Best Online Brokers in Singapore: Top 10 (2025)

​In recent years, Singapore has witnessed a significant surge in online brokerage services, driven by investors' growing preference for convenience and accessibility. Unlike traditional banks, which often have higher fees and limited trading platforms, online brokers offer user-friendly interfaces, competitive pricing, and a diverse range of investment options.

As of now, there are 76 recognized market operators regulated by the Monetary Authority of Singapore (MAS).

Our team of experts has thoroughly analyzed all of them to provide you with an independent and comprehensive comparison.​

Broker Definition: What Is a Broker or Stockbroker?

A broker (or stockbroker) is a financial intermediary that facilitates the buying and selling of financial assets such as stocks, forex, commodities, derivatives, and ETFs on behalf of traders and investors. Unlike traditional banks, brokers provide direct access to financial markets, often offering lower fees, advanced trading platforms, and leverage options for active traders.

Types of Brokers in Singapore

Singapore has a highly developed financial market, and traders have access to a variety of brokers that cater to different investment strategies. Below are the main types of brokers available in the country.

Each broker type has specific advantages depending on investment goals, trading experience, and preferred assets. Understanding these differences helps traders in Singapore select the best broker for their needs.

Best Online Brokers: How to Choose the Right One?

Choosing the best online broker depends on several factors, including the type of market you want to trade in, your trading experience, and the tools or platforms you prefer. Some brokers specialize in specific asset classes, while others cater to beginners or experienced traders with tailored features. Below, we explore the best brokers based on the type of assets they offer and the trader’s level of experience.

Best Broker Based on the Type of Assets Traded

Different asset types require different broker features. Forex traders prioritize tight spreads and fast execution, while stock traders look for low commissions and market access. Below are the key factors for each category.

Best Forex Brokers

Forex trading is highly active in Singapore, with several MAS-regulated brokers offering access to global currency markets.

Key factors to consider when choosing a Forex broker:

• Tight spreads and low commissions – Reducing trading costs is crucial for frequent traders.
• Leverage options – Singapore allows regulated leverage for forex traders.
• Fast execution speeds – Delays in execution can lead to slippage, impacting profits.
• Access to major currency pairs – Brokers should offer popular pairs such as USD/SGD, EUR/USD, GBP/JPY, and AUD/USD.

Best CFD Brokers

CFD trading allows traders to speculate on various assets without owning them, making it a popular choice in Singapore.

Important criteria for choosing a CFD broker:

• Diverse asset offerings – CFDs allow speculation on stocks, indices, commodities, and cryptocurrencies.
• Leverage and margin options – Higher leverage increases profit potential but also risk.
• Regulation and security – Ensure the broker is regulated by MAS or an international authority (FCA, ASIC, CySEC).
• Risk management tools – Stop-loss and take-profit orders help manage volatility.

Best ETF Brokers

ETFs (Exchange-Traded Funds) are a cost-effective way to invest in a diversified portfolio.

Factors to consider for ETF trading:

• Low-cost trading – Many brokers offer zero-commission ETF trading.
• Access to global and Singapore ETFs – Options should include Straits Times Index ETF, S&P 500 ETFs, and sectoral ETFs.
• Fractional investing – Some brokers allow small investments in high-value ETFs.
• Dividend reinvestment – Automated reinvestment of ETF dividends can enhance returns.

Best Stock Brokers

Stock trading is a major investment option in Singapore, requiring access to SGX (Singapore Exchange) and global markets.

What to look for in a stock broker:

• Low brokerage fees – Discount brokers like Tiger Brokers and Saxo Markets offer cost-effective stock trading.
• Access to IPOs and international markets – Some brokers provide access to US, European, and Asian stock exchanges.
• Research and analysis tools – Stock screeners, fundamental analysis reports, and technical indicators.
• Dividend processing – Ensure the broker supports automatic dividend payouts and tax reporting.

Best Online Broker Based on Trading Experience

Your trading experience level significantly impacts which broker is best for you. Beginners need simple platforms and educational support, while experienced traders require advanced tools and lower costs.

Best Broker for Beginners

If you’re new to trading, selecting a broker with a user-friendly platform and strong educational resources is essential.

Key features to look for:

• Simple and intuitive interface – Easy-to-use platforms with clear navigation.
• Educational resources – Free webinars, trading tutorials, and beginner-friendly guides.
• Low minimum deposit – Allows small investments to start.
• Demo accounts – Practice trading with virtual money before going live.
• Strong customer support – Reliable assistance, preferably available in English and Mandarin for Singaporean users.

Best Broker for Experienced Traders

Professional traders need a broker that offers low costs, fast execution, and advanced tools.

Essential features for advanced traders:

• Access to multiple markets – Stocks, forex, commodities, and derivatives.
• Low brokerage fees and spreads – Tight spreads and low commissions to maximize profitability.
• Advanced trading tools – Algorithmic trading, technical indicators, and real-time data.
• API and automation support – For high-frequency trading strategies.
• Risk management options – Negative balance protection and custom stop-loss features.

Choosing the right broker depends on your investment goals, experience level, and preferred trading strategies. Evaluating the factors above will help you find a broker that best suits your needs.

Meilleur broker selon la plateforme de trading

Broker avec Metatrader MT4 ou MT5

Best Broker Based on Trading Platform

The choice of a trading platform is a crucial factor when selecting a broker. Some traders prefer MetaTrader 4 or 5 (MT4/MT5) for its advanced tools and automation, while others opt for TradingView for its superior charting capabilities. Below, we discuss the key criteria for each platform.

Best Broker with MT4 or MT5

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are widely used trading platforms offering powerful tools for forex, CFD, and commodity trading.

Key factors to consider when choosing a broker with MT4 or MT5:

• Platform compatibility – Ensure the broker fully supports MT4 or MT5 with all features enabled.
• Advanced charting tools – Access to multiple technical indicators, timeframes, and custom scripts.
• Automated trading support – Expert Advisors (EAs) and algorithmic trading strategies.
• Fast order execution – ECN/STP brokers provide low-latency execution.
• Multi-asset trading – MT5 provides access to stocks, ETFs, and indices, while MT4 focuses on forex and CFDs.
• Customizable interface – Personalization of charts, layouts, and order types.

Best Broker with TradingView

TradingView is a top choice for traders who prioritize detailed charting, community-driven insights, and social trading tools.

What to consider when selecting a broker with TradingView integration:

• Direct execution from TradingView – Some brokers allow placing trades directly through TradingView charts.
• Advanced charting capabilities – Includes hundreds of built-in indicators, drawing tools, and customizable scripts.
• Community and social trading features – Follow and interact with other traders.
• Multi-device compatibility – Cloud-based platform with seamless access across web, desktop, and mobile.
• Real-time market data and alerts – Brokers should provide accurate price feeds with minimal latency.

Best Broker Based on Trading Strategy

Different trading strategies require different broker features. Scalpers need tight spreads and fast execution, swing traders need access to diverse markets, and day traders require low-cost trading with high-speed execution.

Best Broker for Scalping

Scalping involves making multiple trades within short time frames to capitalize on small price movements.

Key features to look for in a broker for scalping:

• Ultra-fast execution speeds – Low-latency ECN/STP brokers are ideal.
• Tight spreads – Lower spreads reduce transaction costs, increasing profitability.
• Low commissions – Some brokers charge a fixed commission per trade instead of wider spreads.
• Direct Market Access (DMA) – Reduces broker intervention, ensuring transparent pricing.
• Stable and reliable platform – No lagging or freezing during volatile market conditions.

Best Broker for Swing Trading

Swing trading involves holding positions for days or weeks to capture medium-term price trends.

What to consider in a broker for swing trading:

• Low overnight swap fees – Since swing traders hold positions overnight, lower swap fees reduce costs.
• Comprehensive analysis tools – Access to fundamental and technical analysis resources.
• Wide range of tradable assets – Swing traders often diversify across forex, stocks, commodities, and indices.
• Flexible order types – Advanced Stop-Loss, Take-Profit, and Trailing Stops.
• Access to economic news and market reports – Helps in strategic decision-making.

Best Broker for Day Trading

Day traders open and close multiple trades within the same day, requiring low fees and high-speed execution.

Key factors when choosing a broker for day trading:

• Low spreads and commissions – Frequent trading means costs must be minimized.
• High-speed trade execution – Avoid brokers with slow execution that could lead to price slippage.
• Real-time market data – Essential for making quick, informed trading decisions.
• Access to multiple markets – Forex, stocks, indices, and commodities.
• Advanced trading platforms – MT4, MT5, or TradingView with high-speed servers.

Selecting the right broker based on your platform preference or trading strategy ensures a more efficient, cost-effective, and profitable trading experience.

What Else Should You Consider When Choosing an Online Broker?

Selecting the best broker is not just about fees and available markets; traders must also ensure their broker is regulated, offers a diverse selection of assets, and provides strong security features. Below, we discuss key factors every Singaporean trader should consider before opening a brokerage account.

Broker Regulation: Why It Matters?

Choosing a regulated broker is essential for fund security, legal protection, and fair trading conditions. Regulated brokers follow strict financial standards, ensuring that client funds are segregated from company accounts and that trading conditions are transparent.

Trusted Regulatory Bodies for Brokers in Singapore and Internationally

• Monetary Authority of Singapore (MAS) – Singapore 🇸🇬 : The MAS is the primary financial regulator in Singapore, overseeing stock, forex, and derivatives brokers. Choosing a MAS-regulated broker ensures compliance with strict financial laws and investor protection measures.
• Financial Conduct Authority (FCA) – United Kingdom 🇬🇧 : One of the most respected financial regulators, ensuring brokers operate with transparency and security.
• Australian Securities and Investments Commission (ASIC) – Australia 🇦🇺 : A leading regulator enforcing high financial standards for brokers worldwide.
• Cyprus Securities and Exchange Commission (CySEC) – Cyprus 🇨🇾 : Many European brokers operate under CySEC regulation, ensuring compliance with MiFID II laws.
• Commodity Futures Trading Commission (CFTC) & National Futures Association (NFA) – USA 🇺🇸 : Governs brokers offering futures and forex trading to US clients.

For Singaporean traders, a broker regulated by MAS or an internationally recognized authority (FCA, ASIC, CySEC) is recommended for better fund security and legal protection.

Tradable Assets Available with Brokers in Singapore

A well-diversified portfolio minimizes risk and increases investment opportunities. Before selecting a broker, traders should ensure they have access to multiple asset classes for maximum flexibility.

Types of Accounts Offered by Brokers

Brokers offer different account types based on the needs and experience level of traders. Below are the most common account types:

• Standard Account – Suitable for most traders, offering standard spreads and market execution.
• Professional Account – Designed for experienced traders, providing lower spreads, higher leverage, and additional features.
• Demo Account – Allows beginners to practice trading with virtual funds before using real money.
• Islamic (Swap-Free) Account – Complies with Sharia law, offering no interest on overnight positions.
• VIP/Premium Account – Comes with exclusive benefits such as lower fees, priority withdrawals, and personal account managers.
• Managed Account (PAMM/MAMM) – Enables investors to allocate funds to professional traders, making it ideal for passive investors.

Platform Features: What Should Traders Look For?

When selecting a broker, platform functionalities are crucial for executing trades efficiently. Below are key features traders should look for:

• Copy Trading – Enables traders to automatically copy the trades of experienced investors.
• Risk Management Tools – Includes Stop-Loss, Take-Profit, Trailing Stops, and Negative Balance Protection to minimize losses.
• Trading Signals & Alerts – Provides real-time market updates and trade recommendations.
• Automated Trading – Supports algorithmic trading using Expert Advisors (EAs) on platforms like MetaTrader.
• Multi-Asset Trading – Allows access to forex, stocks, commodities, indices, and cryptocurrencies from a single account.
• Advanced Charting Tools – Offers custom indicators, multiple timeframes, and trend analysis.
• Mobile Trading App – Ensures access to markets via smartphones and tablets.
• Economic Calendar & Market News – Provides updates on global financial events affecting asset prices.
• Fast Order Execution – ECN/STP brokers provide low-latency execution, reducing slippage.
• Regulatory Compliance & Security – Encrypted transactions and MAS/FCA/ASIC regulation ensure fund safety.

Broker Fees, Spreads, and Commissions

Understanding trading costs is essential for profitability. Below is an overview of the most common broker fees.

• Spread: If a broker offers a spread of 1 pip on the USD/SGD pair, and a trader buys 1 standard lot (100,000 units) at 1.3500 and sells at 1.3501, the trader pays S$10 in spread fees.
• Commission: A stock broker charging S$10 per executed order would cost a trader S$20 round-trip (buy & sell) for a single stock trade.
• Deposit & Withdrawal Fees: Some brokers charge S$25 per withdrawal for international bank transfers, while credit card and e-wallet withdrawals may be free.
• Inactivity Fee: If a trader doesn’t place trades for 6 months, the broker may deduct S$30 per month from the account.
• Swap Fees: Holding a 1-lot long position on USD/SGD overnight could incur S$15 in swap fees, depending on market interest rates.
• Leverage Fees: If a trader borrows S$10,000 with a 5% annual margin rate, the monthly financing cost would be S$42.

By understanding these fees, Singaporean traders can choose a cost-effective broker that aligns with their investment strategy and trading frequency.

How to Start Trading with an Online Broker?

Getting started with an online broker is a straightforward process, but understanding each step ensures a seamless experience. Below, we outline the key stages to begin trading efficiently.

1. Creating a Trading Account

Opening an account with an online broker is quick and simple, requiring only a few steps.

Advantages of account creation:

• Quick registration – Most brokers allow you to sign up using an email ID and phone number, with approval in less than 10 minutes.
• Easy KYC verification – Identity verification is straightforward; traders typically need to upload a passport/NRIC (National Registration Identity Card), proof of address, and bank details, with approval in 24–48 hours.

2. Depositing Funds

Once your account is verified, you need to fund your account before placing trades.

Advantages of broker deposit methods:

• Multiple deposit options – Most brokers accept bank transfers, credit/debit cards, PayNow, PayPal, Skrill, and crypto deposits.
• Instant deposits – Transactions using PayNow and e-wallets are processed instantly, while bank transfers may take a few hours.

3. Placing a Trade Order

After funding your account, you can place your first trade by following these steps:

• Choose the asset you want to trade (e.g., USD/SGD forex pair).
• Select the order type – Market order (instant execution) or limit order (set your preferred entry price).
• Enter the trade size – Define the number of units, shares, or lots you want to buy/sell.
• Apply risk management tools – Set a Stop-Loss (to limit risk) and Take-Profit (to secure gains).
• Confirm the trade – Click “Buy” or “Sell”, and your order will be executed immediately.

4. Withdrawing Funds

Profits or unused funds can be withdrawn from your broker’s platform at any time.

Advantages of broker withdrawals:

• Simple withdrawal process – Withdrawals can be requested via bank transfer, PayNow, or e-wallets with just a few clicks.
• Fast processing time – Most brokers process withdrawals within 24–48 hours, while some instant withdrawal options are available for smaller amounts.

Example of a Trade with an Online Broker (USD/SGD Pair)

Let’s say a Singaporean trader wants to speculate on the USD/SGD exchange rate.

• Market Analysis:
• The current USD/SGD exchange rate is 1.35.
• The trader expects the SGD to weaken, so they buy 1 standard lot (100,000 units) of USD/SGD.
• Trade Execution:
• Buy Order Placed at 1.35.
• Take-Profit Set at 1.37 (to lock in profit).
• Stop-Loss Set at 1.34 (to limit potential losses).
• Market Movement & Profit Calculation: If the price rises to 1.37, the trade is closed with a profit of SGD 2,000 (100,000 x 0.02 SGD).

This example illustrates how traders in Singapore can capitalize on forex price movements for potential profits.

How Do Online Brokers Make Money?

Online brokers generate revenue through multiple sources, depending on their business model. Below are the key ways brokers earn profits:

• Trading Commissions – Some brokers charge a fixed fee per trade, especially for stocks, ETFs, and derivatives.
• Spreads – The difference between the buying and selling price of an asset. Brokers adjust spreads to earn a margin on every trade.
• Deposit & Withdrawal Fees – Some brokers charge fees for processing bank transfers, PayNow transactions, or card payments.
• Inactivity Fees – If an account remains inactive for a certain period (e.g., 6 months), a fee is deducted from the account balance.
• Swap Fees (Overnight Charges) – Interest fees applied when traders hold leveraged positions overnight in forex and CFD trading.
• Leverage & Margin Fees – Interest on borrowed funds used in margin trading, often charged as an annual percentage.
• Premium Services – Some brokers offer advanced tools, market research, signals, and trading insights for a subscription fee.

Selecting a broker with transparent fee structures allows traders to optimize costs and maximize profitability.

What Is the Taxation on Trading Income in Singapore?

In Singapore, trading profits are generally not subject to capital gains tax, making it a tax-friendly destination for investors and traders.

However, taxation depends on the nature of trading activity:

• Capital Gains Tax – Singapore does not impose capital gains tax, meaning profits from stocks, ETFs, and forex trading are typically tax-free.
• Business Income Tax – If trading is conducted as a full-time business activity, profits may be considered taxable business income and subject to corporate tax (17%) or personal income tax (0% to 22%).
• Dividend Tax – Dividends from Singapore-listed stocks are tax-free, but dividends from foreign stocks may be subject to withholding tax, depending on the country of origin.

Traders should consult a tax professional to determine if their trading activity is classified as investment income or business income for tax purposes.

All our guides to the best brokers in Singapore

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.