Invest in gold: Top brokers in Singapore for 2025

How to invest in gold

Investing in physical gold

Buying physical gold involves purchasing gold bars or coins from a recognised dealer or financial institution. This investment gives you direct ownership and is often valued for its ability to hedge against inflation and provide crisis protection. However, you need to consider the costs and security aspects of storing and insuring your gold. Storage options in Singapore include home safes, safe deposit boxes at local banks, or specialised vaulting services.

Example

You buy a 100g gold bar at SGD 110 per gram, making your total purchase SGD 11,000. You opt for a secure vaulting service charging SGD 180 annually for storage and SGD 35 for insurance. After three years, your storage and insurance costs total SGD 645. If gold rises to SGD 145 per gram, your bar is now valued at SGD 14,500.

Investing via ETFs and sector company stocks

Investing in gold ETFs and gold mining stocks means buying units or shares that track the price of gold or the performance of companies in the gold sector, often listed on the SGX or major international exchanges. ETFs make it easy to gain diversified exposure to gold without handling physical assets, and mining shares offer potential for dividends and extra growth, but are subject to company and market risks.

• Pros:
• High liquidity
• quick entry and exit
• no physical storage needed
• potential dividends (for shares).
• Cons:
• Management fees (for ETFs)
• price can be volatile
• market/currency risk for foreign products.

Example of investment returns

Example: You buy SGD 8,000 in a gold ETF at SGD 80 per unit. Two years later, the ETF price rises to SGD 100 per unit, making your holding worth SGD 10,000. You sell, booking a SGD 2,000 gain (before fees). Alternatively, investing SGD 5,000 in a mining company stock that pays a 2.5% annual dividend earns you SGD 125 per year, aside from price changes.

Investing in gold with derivatives

Gold derivatives, such as CFDs and futures, allow you to speculate on gold prices by using leverage, magnifying both gains and risks. With as little as 5–15% of the total value as margin, you can take much larger positions. Unlike investing in ETFs or physical gold, derivatives allow you to profit from both rising and falling prices but are only suitable for experienced, risk-tolerant investors due to the possibility of significant losses.

Example of a CFD trade on Gold

Example: You open a CFD “buy” position on 10 ounces of gold at SGD 4,500/oz, with 10% margin (SGD 4,500). Gold climbs to SGD 4,700/oz; your profit is SGD 2,000 ((200 × 10) SGD), minus fees. A 5% drop would mean a loss of SGD 2,250, exceeding your margin if not managed carefully.

How to Choose the Best Broker to Invest in gold

Selecting the best broker to invest in gold in Singapore depends on the investment method you prefer and your financial objectives. Whether you're seeking direct physical exposure, looking for liquidity through ETFs and stocks, or aiming to actively trade market moves with derivatives, the broker's capabilities, cost structure, and trustworthiness should match your strategy and experience.

Best broker for physical purchase

If you want to buy and hold physical gold, you need a broker or dealer that guarantees authenticity, safe handling, and convenient storage. This approach is suited for investors seeking direct ownership and long-term wealth protection.

• Only sells certified gold bars or coins (preferably LBMA-accredited or from reputable Singaporean refineries)
• Transparent pricing that separates spot price, premiums, and any GST or handling fees
• Offers secure storage options in MAS-licensed vaults within Singapore
• Insurance coverage included or available for your holdings
• Clear and fair buyback policies, enabling easy resale if desired
• Regulated by relevant authorities (such as MAS or Enterprise Singapore)
• Positive customer feedback and a proven operational history

Expert advice

Always confirm that the broker or dealer is regulated, compare all fees (purchase, storage, insurance, resale), and make sure you can verify the authenticity of your gold. Responsive customer support is essential for peace of mind.

Best broker to invest in ETFs and sector company stocks

To invest in gold ETFs or gold mining stocks, choose a stockbroker who provides reliable access to global markets, competitive fees, and robust trading tools suitable for Singapore-based investors.

• Holds a Capital Markets Services Licence (CMSL) issued by MAS
• Broad access to SGX, US, and other global exchanges where gold ETFs and related stocks are listed
• Competitive commission rates and transparent, minimal platform or custody fees
• Easy account opening for Singapore residents, with SGD and multi-currency funding options
• Modern online trading platform or app featuring research, analytics, and portfolio tracking
• Prompt and knowledgeable customer service with in-house market specialists
• Clear reporting of account statements, tax documents, and all associated costs

Expert advice

Ensure your broker is MAS-regulated, fully transparent about all costs, and offers easy access to major gold ETFs and sector stocks. Quality user support and a reliable platform help ensure a smooth investing experience.

Best broker to trade gold with derivatives

Traders seeking to profit from short-term gold price movements via derivatives (such as CFDs or gold futures) need a broker with state-of-the-art trading platforms, strict regulatory compliance, and strong risk controls.

• Properly licensed for derivatives trading by MAS or other major global regulators (such as FCA, ASIC)
• Transparent pricing, with tight spreads and low commissions for CFDs/futures
• Access to a wide range of gold derivatives, including spot, CFDs, futures, and options
• Advanced trading platform with real-time charts, technical indicators, and order types (stop-loss, take-profit)
• Risk management features like margin monitoring, negative balance protection, and clear margin calls
• Fast, multi-channel client support, available especially during volatile market hours
• Comprehensive education materials and demo account for strategy testing

Expert advice

Only use MAS-regulated brokers for derivatives trading, and always check their risk management tools, pricing structure, and platform reliability. Good training resources and responsive support are essential for safe and effective leveraged trading.

Why invest in gold?

Gold stands as a time-tested choice for Singaporean investors who value stability, flexibility, and growth potential in their portfolios. With its consistent performance during economic shifts and market volatility, as well as its global acceptance, gold offers unique advantages for those seeking effective portfolio protection and diversification.

• Safe haven in crisis: Gold prices often rise during periods of financial, economic, or geopolitical stress, guarding wealth when other assets may fall.
• Inflation hedge: Gold helps preserve your purchasing power as the cost of living increases over time.
• Portfolio diversification: Gold’s value doesn’t always move in sync with stocks or bonds, reducing overall portfolio risk and smoothing returns.
• High liquidity: Gold is easily tradable worldwide, providing fast access to cash if needed.
• Supported by central banks: Robust purchases by global central banks continue to underpin gold’s value.
• Strong long-term performance: Over the past decade, gold has delivered substantial gains, outpacing inflation and many alternative investments.

Gold’s proven resilience and long-term price appreciation highlight its ability to preserve and steadily grow capital for Singaporean investors across varying economic environments.

The fees associated with investing in gold

Before investing in gold, it’s important for Singapore investors to be aware of the different types of fees involved. These costs can vary depending on whether you buy physical gold, invest through ETFs or mining stocks, or use derivative products such as CFDs. By understanding and comparing the most common fees, you can better manage your investment strategy and avoid surprises that affect your net returns.

Buy/Sell Commissions

Every time you buy or sell physical gold, you’ll often pay a flat commission or premium depending on the bar or coin’s weight and dealer’s policy. ETFs and sector stocks are generally charged a commission per transaction, while derivative products like CFDs may have a small per-contract fee or build the cost into the spread.

Real Example:

Buying a 100g gold bar (about $10,800 based on current prices) from a local Singapore dealer might include a $45 buy commission. Selling it back may incur another $45 fee. For a $6,000 gold ETF purchase, a $12 commission may apply for each buy and sell order.

Brokerage Fees

Physical gold dealers usually don’t charge ongoing brokerage fees if you take delivery. For ETFs or gold stocks, some brokers may charge an annual platform or custody fee, or a small percentage fee per transaction. CFD platforms typically have no ongoing brokerage fees since costs are mainly in the spread or commission.

Real Example

Holding S$12,000 in a gold ETF on a Singapore broker might incur a 0.2% annual fee (S$24 per year), or a monthly custody charge of $5 (S$60 per year). There are normally no such fees for gold held physically in your possession.

Spreads

The spread is the difference between the price you pay to buy and what you receive if you sell immediately. Physical gold spreads can range several dollars per ounce above or below spot price. ETF spreads are typically tighter, while CFDs use pips or a per-ounce price difference.

Real Example

If spot gold is $3,350/oz, a Singapore gold dealer might sell at $3,362 and buy at $3,350—a $12/oz spread. For a gold ETF trading at $66 with a 0.15% spread, buying/selling 50 shares could result in roughly $5 in total spread cost. A 30-pip CFD spread is $3/oz; if you trade 10 ounces, that is $30 per trade.

Other Fees

Beyond the main transaction fees, you may face ongoing storage or insurance costs for physical gold, annual management fees and potential FX conversion for ETFs, or financing and inactivity fees for derivative products.

Real Example

Storing S$20,000 worth of physical gold in a private Singapore vault may cost 1% per year (S$200) in storage plus 0.3% (S$60) for insurance. A gold ETF with a 0.3% management fee on S$10,000 costs S$30 each year. Keeping a gold CFD position overnight for 15 days at 0.05% daily fee would total S$75.

The tax on income from trading gold in Singapore

Investing in gold in Singapore is governed by specific tax rules that vary depending on how you invest—whether it is through physical gold, ETFs, mining stocks, derivatives, or digital gold accounts. Understanding the tax regimes helps you make informed investment decisions and ensures you know your reporting responsibilities.

• Physical gold (bars/coins): Profits from the sale of gold by individuals are generally not taxed in Singapore if held as a personal investment.
• Gold ETFs/ETCs: Buy and sell gains are not taxed for individuals unless you are trading frequently or as a business; there is no capital gains tax.
• Gold mining company shares: Dividends received by individuals from Singapore companies are not taxable; if investing via a corporate entity, the standard 17% corporate tax rate applies.
• Derivative products (CFDs, futures): Gains or losses are taxable only if trading is part of your regular business; otherwise, occasional individual trading is not taxed.
• Digital gold accounts: Like physical gold, capital gains are not taxed for passive individual investors; active trading may be treated as income.
• Corporate investors: Any profits, including gains on disposal or trading income, are subject to the corporate tax rate of 17%.

As a Singapore tax resident investor, capital gains from most gold investments are not subject to tax, provided your activities are not considered a trade or business by IRAS. Investors need to report gold-related income only if their gold activity constitutes regular trading or is operated as a business. Otherwise, personal portfolio gains (whether on coins, bars, ETFs, or accounts) are typically tax-exempt and do not require reporting. Corporate entities, however, must declare all profits and gains from gold in their annual corporate tax return. Always keep clear records of transactions for compliance and possible clarification in the event of a tax query.

Our 10 Tips for Choosing the Right Broker to Speculate on gold

Selecting a reliable and well-suited broker is one of the most important decisions for those wanting to speculate on gold via derivatives such as CFDs or futures. The broker you choose can influence your trading costs, access to markets, platform experience, and even your level of investor protection. Carefully comparing key features will help you make an informed choice and navigate the dynamic gold market confidently.

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.