6 Best Forex Broker Comparison Singapore 2021

A side-by-side forex broker comparison Singapore 2021 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 2021

Forex broker comparison Singapore – general Information

ExnessForexTime (FXTM)TickmillXMIC MarketsHotforex
Year Founded200820112014200920072010
OfficesCyprus, Seychelles and United KingdomBelize, Cyprus, Mauritius, South Africa and United KingdomSeychellesAustralia, Cyprus, Greece and HungaryAustralia, Hong Kong and Viet NamCyprus, Mauritius, Poland and United Arab Emirates
MAS RegulatedNoNoNoNoNoNo
RegulationFSCA (South Africa), 51024 CySEC 178/12 FCA (UK), 730729 FSA (Seychelles), SD025FCA (UK) 777911 CySEC, 185/12 FSCA (South Africa), 46614  FSC (Mauritius), C113012295FCA (UK), 717270 CySEC, 278/15  FSCA (South Africa), 49464 FSA (Seychelles), SD008 BaFin 146511ASIC 443670
BaFin, 124161
CNMV (Spain), 2010157773
CONSOB (Italy), 3046
CySEC, 120/10
FCA (UK), 538324
FSP (New Zealand), FSP235905
ASIC ACN 123 289 109CySEC, 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 LeverageUnlimited*1:20001:5001:8881:5001:1000
SpreadFixedVariableVariableVariableVariableVariable
Spreads From000000
Commissions (ECN/Pro Accs)$3.50$2$1$3.50$3.50$8
Minimum Trade Size0.01 lot0.01 lot0.01 lot0.01 lot0.01 lot0.01 lot
Maximum Trade Size200 lots2000100 lots200 Lots1000 lots60 lots
Maximum number of open tradesUnlimited200300200500
Funding MethodsBitcoin, Credit/debit cards, Neteller, Perfect Money, Skrill, Tether (USDT), WebMoney and Wire transferBitcoin, Credit/debit cards, DIXIPAY, FasaPay, Neteller, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire transfer and Yandex.MoneyCredit/debit cards, FasaPay, Neteller, PayPal, QIWI, Skrill, UnionPay, WebMoney and Wire transferCashU, Credit/debit cards, FasaPay, giropay, iDEAL, Moneta.Ru, Neteller, paysafecard, QIWI, Skrill, SOFORT, UnionPay, WebMoney, Western Union and Wire transferBitcoin, BPAY, Credit/debit cards, FasaPay, Neteller, PayPal, Skrill, UnionPay and Wire transferCredit/debit cards, Neteller, Perfect Money, Skrill, WebMoney and Wire transfer
Official WebsiteExness WebsiteForexTime (FXTM) WebsiteTickmill WebsiteXM WebsiteIC Markets WebsiteHotforex Website

Singapore Forex Broker Account Types Comparison

ExnessForexTime (FXTM)TickmillXMIC MarketsHotforex
Demo AccountsYesYesYesYesYesYes
Micro/Cent AccountsYesYesYesYesYesYes
Standard AccountsYesYesYesYesYesYes
ECN/Pro AccountsYesYesYesYesYesYes
Swap-free Islamic AccountYesYesYesYesYesYes
Managed AccountNoNoNoNoNoYes
Social / Copy TradingYesYesYesYesYesYes

Singapore Forex Broker Trading Instruments Comparison

ExnessForexTime (FXTM)TickmillXMIC MarketsHotforex
Forex Pairs1072162576553
Stocks and Indicies81Yes141295460+23
Cryptocurrencies71012
Metals and energies12547610
Bonds493

Singapore Forex Broker Trading Platforms Comparison

ExnessForexTime (FXTM)TickmillXMIC MarketsHotforex
MetaTrader 4YesYesYesYesYesYes
MetaTrader 5YesYesYesYesYesYes
cTraderNoNoNoNoYesNo
Mobile Trading AppsYesYesYesYesYesYes
Web TraderYesYesYesYesYesYes

Trading Conditions of Forex Brokers in Singapore

ExnessForexTime (FXTM)TickmillXMIC MarketsHotforex
Strategies AllowedAllAllAllAllAllAll
HedgingYesYesYesYesYesYes
SWAPsYesYesYesYesYesYes
Automated tradingYesYesYesYesYesYes

Other Benefits forex brokers offer for Singaporeans

ExnessForexTime (FXTM)TickmillXMIC MarketsHotforex
Free trader educationYesYesYesYesYesYes
Welcome/No-deposit BonusNoNo$30$30NoNo
Deposit BonusNoNoNo20%No100%
Loyalty Program/RewardsNoYesNoYesNoNo
Trading contestsNoNoNoYesNoNo

Customer Care channels of Singapore forex brokers

ExnessForexTime (FXTM)TickmillXMIC MarketsHotforex
EmailYesYesYesYesYesYes
TelephoneYesYesYesYesYesYes
Live ChatYesYesYesYesYesYes
Supported LanguagesArabic, Bengali/Bangla, Chinese, English, French, German, Hindi, Indonesian, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Thai, Urdu, VietnameseArabic, Chinese, Czech, English, French, Hindi, Indonesian, Italian, Korean, Malay, Persian, Polish, Russian, Spanish, Thai, Turkish, Urdu, VietnameseArabic, Chinese, English, Indonesian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Thai, VietnameseArabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, TurkishChinese, English, Japanese, RussianArabic, Bulgarian, Chinese, English, French, German, Greek, Hindi, Hungarian, Italian, Japanese, Korean, Malay, Persian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Tagalog, Thai, Urdu, Vi
Join ExnessJoin FXTMJoin TickmillJoin XMJoin IC MarketsJoin 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.