Live coverageSG · forex market
Forex brokers in Singapore: the strict ones, ranked.
Singapore is the most regulated forex market in Southeast Asia, and the smallest. The MAS doesn't issue many licenses, and the ones it does come with leverage caps that most retail traders find punitive. Most Singaporeans trade with overseas brokers anyway. We list both.
Available to SG traders
22
accept residents
On our list
4
ranked for Singapore
MAS-licensed
3
locally regulated
Leverage cap
1:20 (MAS-licensed)
retail
Top payment
Bank wire
Currency
SGD
22 brokers accept Singapore residents. 3 of those hold a local MAS licence. We currently track and rank 4 for Singapore below.
Best in Singapore
Browse all 44 brokers ranked for Singapore.
From 22 that accept SG residents — the ones we track, scored and sorted by Trust Score.
1
EX
ExnessFeatured
EUR/USD 0.2 typ. · $10 min · 1:2000
93
FCACySEC
2
PE
Pepperstone
EUR/USD 1.0 typ. · $0 min · 1:500
90
FCAASIC
3
IC
IC MarketsFeatured
EUR/USD 1.1 typ. · $200 min · 1:500
88
ASICCySEC
4
ON
OnFin
EUR/USD 0.1 typ. · $1 min · 1:3000
63
MISA
| # | Broker | Trust | EUR/USD | Min dep. | Leverage | Regulators | 30d | |
|---|---|---|---|---|---|---|---|---|
| 1 | EX ExnessFeatured Est. 2008 · MT4 | 93 | 0.2 | |||||
| 2 | PE Pepperstone Est. 2010 · MT4 | 90 | 1.0 | |||||
| 3 | IC IC MarketsFeatured Est. 2007 · MT4 | 88 | 1.1 | |||||
| 4 | ON OnFin Est. 2015 · MT4 | 63 | 0.1 |
Cross-references for Singapore
Our guides for Singapore
Other SEA markets we cover
Brokers serving Singapore
Regulators active in Singapore
Questions traders in Singapore ask.
Is forex trading legal in Singapore?
Yes. Trading with MAS-licensed brokers is fully regulated. Trading with overseas brokers is permitted but unprotected by Singapore consumer law.
Why do most Singaporeans use overseas brokers?
MAS caps retail leverage at 1:20, which most active traders find too restrictive. Overseas brokers under FCA/ASIC offer 1:30–1:500 with comparable regulatory standing.
What protections do I lose?
Singapore's investor compensation scheme doesn't cover overseas accounts. If the broker fails, you're at the mercy of its home regulator's compensation fund (if any).