Singapore · Phase 1 launch 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.
Brokers
22
Top regulator
MAS
Top payment
Bank wire
Leverage cap
1:20 (MAS-licensed)
Currency
SGD
Best in Singapore
All 33 brokers serve Singapore.
1EX
ExnessFeatured
EUR/USD 0.1 · $10 min · 1:2000
93
FCACySEC
2PE
Pepperstone
EUR/USD 0.1 · $200 min · 1:500
90
FCAASIC
3IC
IC MarketsFeatured
EUR/USD 0.0 · $200 min · 1:500
88
ASICCySEC
| # | Broker | Trust | EUR/USD | Min dep. | Leverage | Regulators | 30d | |
|---|---|---|---|---|---|---|---|---|
| 1 | EX ExnessFeatured Est. 2008 · MT4 | 93 | 0.1 | |||||
| 2 | PE Pepperstone Est. 2010 · MT4 | 90 | 0.1 | |||||
| 3 | IC IC MarketsFeatured Est. 2007 · MT4 | 88 | 0.0 |
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).