A side-by-side forex broker comparison Singapore 2024 to guide you on picking the best forex trading app or platform when trading forex in Singapore.
Some of the brokers are not directly regulated by the Monetary Authority of Singapore (MAS) – the central bank and the financial regulatory authority in Singapore.
But they are regulated by the top and trusted regulatory authorities in the world like the Financial Conduct Authority of the UK and CySEC within the European Union.
The advantage of these international brokers over the local Singapore forex brokers is the trading conditions especially tight spreads.
6 Best Forex Broker Comparison Singapore 2024
What you will learn from this article.
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Forex broker comparison Singapore – general Information
| Exness | ForexTime (FXTM) | Tickmill | XM | IC Markets | Hotforex | |
| Year Founded | 2008 | 2011 | 2014 | 2009 | 2007 | 2010 |
| Offices | Cyprus, Seychelles and United Kingdom | Belize, Cyprus, Mauritius, South Africa and United Kingdom | Seychelles | Australia, Cyprus, Greece and Hungary | Australia, Hong Kong and Viet Nam | Cyprus, Mauritius, Poland and United Arab Emirates |
| MAS Regulated | No | No | No | No | No | No |
| Regulation | FSCA (South Africa), 51024 CySEC 178/12 FCA (UK), 730729 FSA (Seychelles), SD025 | FCA (UK) 777911 CySEC, 185/12 FSCA (South Africa), 46614 FSC (Mauritius), C113012295 | FCA (UK), 717270 CySEC, 278/15 FSCA (South Africa), 49464 FSA (Seychelles), SD008 BaFin 146511 | ASIC 443670 BaFin, 124161 CNMV (Spain), 2010157773 CONSOB (Italy), 3046 CySEC, 120/10 FCA (UK), 538324 FSP (New Zealand), FSP235905 | ASIC ACN 123 289 109 | CySEC, 183/12 DFSA (Dubai), F004885 FCA (UK) 801701 FSA (Seychelles), 8419176-1 FSA (St. Vincent & the Grenadines), 22747 FSC (Mauritius), 094286 FSCA (South Africa), 46632 |
| Minimum Deposit | $10 | $10 | $100 | $5 | $200 | $5 |
| Maximum Leverage | Unlimited* | 1:2000 | 1:500 | 1:888 | 1:500 | 1:1000 |
| Spread | Fixed | Variable | Variable | Variable | Variable | Variable |
| Spreads From | 0 | 0 | 0 | 0 | 0 | 0 |
| Commissions (ECN/Pro Accs) | $3.50 | $2 | $1 | $3.50 | $3.50 | $8 |
| Minimum Trade Size | 0.01 lot | 0.01 lot | 0.01 lot | 0.01 lot | 0.01 lot | 0.01 lot |
| Maximum Trade Size | 200 lots | 2000 | 100 lots | 200 Lots | 1000 lots | 60 lots |
| Maximum number of open trades | Unlimited | 200 | 300 | 200 | 500 | |
| Funding Methods | Bitcoin, Credit/debit cards, Neteller, Perfect Money, Skrill, Tether (USDT), WebMoney and Wire transfer | Bitcoin, Credit/debit cards, DIXIPAY, FasaPay, Neteller, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire transfer and Yandex.Money | Credit/debit cards, FasaPay, Neteller, PayPal, QIWI, Skrill, UnionPay, WebMoney and Wire transfer | CashU, Credit/debit cards, FasaPay, giropay, iDEAL, Moneta.Ru, Neteller, paysafecard, QIWI, Skrill, SOFORT, UnionPay, WebMoney, Western Union and Wire transfer | Bitcoin, BPAY, Credit/debit cards, FasaPay, Neteller, PayPal, Skrill, UnionPay and Wire transfer | Credit/debit cards, Neteller, Perfect Money, Skrill, WebMoney and Wire transfer |
| Official Website | Exness Website | ForexTime (FXTM) Website | Tickmill Website | XM Website | IC Markets Website | Hotforex Website |
Singapore Forex Broker Account Types Comparison
| Exness | ForexTime (FXTM) | Tickmill | XM | IC Markets | Hotforex | |
| Demo Accounts | Yes | Yes | Yes | Yes | Yes | Yes |
| Micro/Cent Accounts | Yes | Yes | Yes | Yes | Yes | Yes |
| Standard Accounts | Yes | Yes | Yes | Yes | Yes | Yes |
| ECN/Pro Accounts | Yes | Yes | Yes | Yes | Yes | Yes |
| Swap-free Islamic Account | Yes | Yes | Yes | Yes | Yes | Yes |
| Managed Account | No | No | No | No | No | Yes |
| Social / Copy Trading | Yes | Yes | Yes | Yes | Yes | Yes |
Singapore Forex Broker Trading Instruments Comparison
| Exness | ForexTime (FXTM) | Tickmill | XM | IC Markets | Hotforex | |
| Forex Pairs | 107 | 21 | 62 | 57 | 65 | 53 |
| Stocks and Indicies | 81 | Yes | 14 | 1295 | 460+ | 23 |
| Cryptocurrencies | 7 | 10 | 12 | |||
| Metals and energies | 12 | 5 | 4 | 7 | 6 | 10 |
| Bonds | 4 | 9 | 3 |
Singapore Forex Broker Trading Platforms Comparison
| Exness | ForexTime (FXTM) | Tickmill | XM | IC Markets | Hotforex | |
| MetaTrader 4 | Yes | Yes | Yes | Yes | Yes | Yes |
| MetaTrader 5 | Yes | Yes | Yes | Yes | Yes | Yes |
| cTrader | No | No | No | No | Yes | No |
| Mobile Trading Apps | Yes | Yes | Yes | Yes | Yes | Yes |
| Web Trader | Yes | Yes | Yes | Yes | Yes | Yes |
Trading Conditions of Forex Brokers in Singapore
| Exness | ForexTime (FXTM) | Tickmill | XM | IC Markets | Hotforex | |
| Strategies Allowed | All | All | All | All | All | All |
| Hedging | Yes | Yes | Yes | Yes | Yes | Yes |
| SWAPs | Yes | Yes | Yes | Yes | Yes | Yes |
| Automated trading | Yes | Yes | Yes | Yes | Yes | Yes |
Other Benefits forex brokers offer for Singaporeans
| Exness | ForexTime (FXTM) | Tickmill | XM | IC Markets | Hotforex | |
| Free trader education | Yes | Yes | Yes | Yes | Yes | Yes |
| Welcome/No-deposit Bonus | No | No | $30 | $30 | No | No |
| Deposit Bonus | No | No | No | 20% | No | 100% |
| Loyalty Program/Rewards | No | Yes | No | Yes | No | No |
| Trading contests | No | No | No | Yes | No | No |
Customer Care channels of Singapore forex brokers
| Exness | ForexTime (FXTM) | Tickmill | XM | IC Markets | Hotforex | |
| Yes | Yes | Yes | Yes | Yes | Yes | |
| Telephone | Yes | Yes | Yes | Yes | Yes | Yes |
| Live Chat | Yes | Yes | Yes | Yes | Yes | Yes |
| Supported Languages | Arabic, Bengali/Bangla, Chinese, English, French, German, Hindi, Indonesian, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Thai, Urdu, Vietnamese | Arabic, Chinese, Czech, English, French, Hindi, Indonesian, Italian, Korean, Malay, Persian, Polish, Russian, Spanish, Thai, Turkish, Urdu, Vietnamese | Arabic, Chinese, English, Indonesian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Thai, Vietnamese | Arabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, Turkish | Chinese, English, Japanese, Russian | Arabic, Bulgarian, Chinese, English, French, German, Greek, Hindi, Hungarian, Italian, Japanese, Korean, Malay, Persian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Tagalog, Thai, Urdu, Vi |
| Join Exness | Join FXTM | Join Tickmill | Join XM | Join IC Markets | Join Hotforex |
Last thoughts on the Singapore forex broker comparison
If you keenly looked at Singapore forex broker comparison, you will see Exness tops the charts, followed by XM Singapore forex broker.
If you want instant withdrawals in your local currency on local payment channels – go with Exness
If you want super low trading conditions – go with Tickmill.
Finally, all the forex brokers here are very reputable. They are regulated in multiple jurisdictions and make it easy for Singapore traders to start forex trading.
