Best Forex Brokers With SGD Accounts

Forex brokers are financial companies that provide access to the foreign exchange market. They act as intermediaries between traders and the interbank system. In addition to forex pairs, most brokers also offer CFDs on commodities, indices, cryptocurrencies, stocks, and other instruments. Brokers support deposits and withdrawals in multiple base currencies, including USD, EUR, GBP, CHF, JPY, AUD, SGD, CAD, NZD, ZAR, THB, NOK, SEK, PLN, HKD, MXN, VND, KWD, etc. The available currencies vary depending on the broker.

An SGD account is a trading account where the main currency is Singapore Dollars (SGD). It is particularly useful for traders in Singapore or those who earn, save, or transact in SGD. With an SGD account, deposits and withdrawals are straightforward, and profits and losses are calculated directly in Singapore Dollars. This reduces conversion fees and makes account management easier.

In this article, we have listed the best forex brokers with SGD accounts. We evaluated these brokers based on regulation, trading platforms, account types, funding options, and trading conditions. By reviewing and comparing these brokers, traders can choose the one that best fits their trading needs and preferences for an SGD base currency account.

A list of the Top 7 SGD accounts Forex Brokers

• Pepperstone
• IC Markets
• Exness
• XM
• AxiTrader
• Go Markets 
• Oanda

Best Forex Brokers with SGD accounts (Compared and Reviewed)

Pepperstone

Founded in 2010 by Owen Kerr and Joe Davenport, Pepperstone is an Australian-based forex and CFD broker that offers online trading services globally. The broker has offices in Melbourne, London, Düsseldorf, Dubai, Limassol, Nassau, and Nairobi. Pepperstone gives you access to trade more than 1,200 forex/CFDs on its powerful platforms: MT4, MT5, cTrader, and TradingView. With its technological infrastructure, Pepperstone offers lightning-speed executions, multiple trading tools, and low trading fees. It is regulated in seven jurisdictions and boasts over 400,000 clients from all over the world. 

Key Features:

• Trading Instruments: 1250+Trading instruments including Forex, Commodities, Cryptocurrencies, Shares/Stocks CFDs, etc 
• Maximum leverage: 1:30 for retail traders of ASIC, CySEC, FCA, and BaFin jurisdictions, 1:200 for SCB Jurisdiction, 1:400 for CMA Jurisdiction, and 1:500 for professional traders. 
• Minimum Deposit: No Minimum Deposit. However, Pepperstone recommends $200 or equivalent for the margin requirement. 
• Account Types: Two ( Standard account, Razor Account) 
• Trading Fees: Spread starting from 1 pip for Standard Account or Commission 3.00 to 3.50 per lot for Razor Account on a Single Trip. 
• PAMM/ MAM:  Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros:

• Pepperstone is regulated in 7 reputed jurisdictions, including FCA in the UK, CySEC in Cyprus, ASIC in Australia, BaFin in Germany, DFSA in Dubai, CMA, and SCB in the Bahamas.
• Fast order execution is ensured with an average of 30 milliseconds.
• Competitive spreads starting from 0.0 pips are offered.
• Clients’ funds are segregated with tier 1 banks for added security.
• There are no inactivity fees associated with the platform.
• Attractive trading conditions are provided.
• Pepperstone offers over 1200 trading instruments for diverse investment opportunities.
• The platform facilitates fast and complete online account opening.
• MT4 Smart Trader Tools, Autochartist, Capitalise.ai, and free VPS are among the trading tools available for users.

Cons:

• US Traders are not allowed 
• Only CFDs are Offered 
• No cent/Micro Account 
• The minimum recommended deposit is $ 200
• Support works only 24/5  
• Limited account protection for non-U.K./E.U. clients
• No guaranteed Stop-loss 
• 30-day expiry for demo accounts

IC Markets

Founded in 2007 by Andrew Budzinksi, IC Markets is an Australian-based forex and CFD broker offering trading services to institutional and retail traders worldwide. The broker offers 2250+ trading instruments including  Forex, commodities, indices, bonds, stocks, futures, and cryptocurrencies. Over the years, the broker has improved in quality and services. It offers true ECN trading with low spreads, high leverage, and fast executions to a global clientele. 

Key Features:

• Regulations: ASIC, CySEC, and FSA
• Trading Instruments: 2150+ including  Forex, commodities, indices, bonds, stocks, futures, cryptocurrencies
•  Minimum Deposit: $200 or Equivalent
• Maximum leverage: up to 1000:1 in FSA jurisdiction, in some countries, it offers 500:1 leverage, for ASIC, and CySEC entity the brokers offers up to 1:30 leverage.   
• Account types: Standard Account and Raw Account (Metater, Ctrader) 
• Fees:  Spread starting from 0.8  pips for Standard Account or 3.00 to 3.50 per lot for Raw Account on a single Trip. 
• PAMM/ MAM:  Not Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros

• Fully Regulated broker, ( One tire-1 , jurisdiction, one tire-2 jurisdiction) 
• Super fast trade execution speed 
• Straightforward registration process 
• Low spread, starting from 0 pips. 
• Easy and Fast Account Opening 
• Free deposit and withdrawal 
• Offers standard and raw spread account
• Trading EA is Allowed 
• Ability to trade from a mobile device 
• A demo Account is available

Cons

• Higher minimum deposit 
• No investor protection for non-EU Clients 
• Limited Product Selection 
• No weekend Trading 
• US Traders are not accepted

Exness

Established in 2008, Exness is a regulated forex and CFD broker. It is regulated by multiple jurisdictions. The broker gives access to trade more than 230 tradable instruments on its MT4 and MT5 Trading platforms. The broker allows copy trading, news trading, and EA Trading. You can start trading with as low as 0.01 lot in Exness. The broker also offers a very tight spread starting from 0.3 pips. The broker is regulated by FCA, CySEC, CMA, CBCS, FSCA, (FSC) in BVI, (FSC) in BVI Mauritius, and FSA in Seychelles. 

Key Features:

• Trading Instruments: 200+ trading instruments including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, 
• Maximum leverage: up to Unlimited :1 
•  Minimum Deposit: $1 
• Account Types: Exness offers 5 different types of accounts including Standard, Standard Cent account, Pro,  Raw Spread, Zero accounts 
• Fees: starting from 0.2 pips for a standard account, 0.3 pips for a standard cent account, 0.1pip for a pro account, up to 3.50 per Lot per one side for a raw spread account, 0.05/lot per side for a zero account,
• PAMM/ MAM:  Not Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros

• Top tire regulations ( FCA, CySEC, FSC, FSA-S SBCS, FSCA, BVI FSC, and so on. 
• The maximum leverage is as high as 1:unlimited or 1:2000
• The minimum deposit is as low as $1 or depends on payment methods
• Free VPS hosting; to qualify, you need to trade for a minimum of 14 days and lifetime deposits of $500;
• Competitive spreads starting from 0.2 pips on standard accounts
• Swap-Free/Islamic Account Provided
• Scalping, EA Trading, and Copy Trading are allowed 
• Instant Withdrawal of Money 24/7

Cons

• No Passive investment programme ( PAMM, MAM Accounts) 
• No Ctrader, Tradingview, zulutrade offered 
• US Traders are not accepted 
• Only MT4 and MT5 Trading Platforms 
• Limited educational resources

XM

Founded in 2009, XM is a forex and CFD broker that offers online trading services globally. It provides access to over 1000+ trading instruments including forex, cryptocurrencies, stock CFDs turbo stocks, commodities, equity indices, thematic indices, precious metals, energies, and shares. The broker is regulated by multiple reputable regulatory authorities, including FSC, ASIC, CySEC, DFSA, and FSCA. The broker offers a full edition of the popular MT4 and MT5 platforms, which include numerous proprietary indicators. XM offers a maximum leverage of 1:1000 to its clients. It is a low-cost broker with spreads starting from as low as 0.6 pips. 

Key Features:

• Trading Instruments: 1000+ including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, Turbo Stocks CFDs, Metals CFDs, Energies CFDs
• Maximum leverage: up to 1000:1 
•  Minimum Deposit: $5 or Equivalent
• Account Types: Micro, Standard, Ultra Low, Shares Accounts 
• Fees: Starting from 0.6 in Ultra-low account, 1 Pips for standard account, and 1 Pips for Micro account
• PAMM/ MAM:  Not Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed 

Pros:

• Regulated by CySEC, ASIC, DFSA in UAE, and FSC Belize.
• Easy and fast account opening
• Minimum deposit is $5
• Over 1000 forex/CFDs are available for trading.
• MT4 and MT5 are the available trading platforms.
• Quality research, market analysis, and access to trading tools like Autochartist.
• Quality training for newbies and ‘ultra-low micro account’ for beginners.
• High leverage up to 1000:1 (this leverage is not available to all the entities of the Group)

Cons:

• Dormant fees are charged after 3 months of no account activity.
• Trading of real stocks is not available to European traders.
• Traders have no other choice apart from the MetaTrader platforms.
• Limited tradable assets.
• No passive investment services (social trading platform, PAMM accounts);
• Funding with PayPal is unavailable

AxiTrader

Founded in Sydney, Australia in 2007 by traders, Axi has grown into a global brand with 60,000 clients from over 100 countries. More than 220 forex and CFDs can be traded on its MT4 platform. The Axi Trading platform will soon be available for real trading. Tools like Autochartist and MT4 NextGen are provided while the Axi Copy Trading app is for social trading.

Key Features

• Trading Instruments: 220+Trading instruments including Forex, shares, IPOs, Indices, commodities, cryptocurrencies
• Maximum leverage: 500:1, However, AXI  offers 1000:1 leverage in some countries 
• Minimum Deposit: No Minimum Deposit. 
• Account Types: Three ( Standard, Pro, Elite Account) 
• Trading Fees: spread starting from 0.9 pips for the standard account, $7 per lot for the pro account, $3.5 per lot for the Elite account 
• PAMM/ MAM:  Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros

• A global broker since 2007.
• Regulated by FCA, ASIC, DFSA, and FMA.
• Serves over 60,000 customers in 100+ countries.
• No deposit and withdrawal fees.
• The minimum deposit is as low as $1.
• Allows scalping, EA trading, and news trading.
• Offers passive investment programs like MAM, PAMM, and Zulutrade.
• Maximum leverage is as high as 400:1.
• Offers a wide range of trading instruments including forex, metals, indices, commodities, and cryptocurrencies.
• Spread betting is available for the UK market.
• Spreads are low and start from 0 pips.
• Easy and digital account opening process.
• AutoChartist, MetaTrader 4 NextGen, and PsyQuation are offered.
• Signal providers and free VPS are offered (conditions apply)

Cons

• Not regulated by CySEC, a leading regulator for EU countries.
• The demo account expires after 30 days.
• The broker does not offer more advanced platforms like MT5 and cTrader; only MT4 is available.
• The commission is $7 for the pro account, which is a bit high compared to competitors.
• Only forex and CFDs are offered; no real tradable assets are available

Go Markets

Established in 2006 in Melbourne, Australia, Go Markets is a forex and CFD broker that offers online trading services globally. It gives traders access to trade more than 1,000 forex and CFDs on its MT4, MT5, and cTrader platforms. The broker’s GO Plus+ account comes with raw spreads and low commissions which is great for pro traders. Autochartist, Trading Central, free VPS, MetaTrader Genesis, market news, and analysis are provided.

Key Features

• Trading Instruments: 1000+ trading instruments including  Forex, Commodities, Metals, Indices, Shares, Cryptocurrencies, Treasuries, ETFs
• Maximum Leverage: The maximum leverage of Go Markets is as high as 500:1. However, leverage may vary based on jurisdiction and tradable assets. For example, the maximum leverage of Asic and Cysec jurisdiction is 30:1 
• Account Type: Two ( Go Plus Account, Standard Account 
• Minimum Deposit: The minimum deposit is $200
• Trading Fees: Spreads start from 0.8 pips on standard account or $2.50 commission per lot per side. 
• PAMM/ MAM:  PAMM is available
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros

• Regulated by  ASIC, CySEC, FSC Mauritius, SVGFSA, FSA-S, DMCC 
• The maximum leverage is as high as 1:500
• Allows Scalping, News trading, and EA/Robot trading. 
• Easy and Fast Account Opening 
• Offers web trading, mobile trading, ECN trading 
• No inactivity Fees 
• Low trading fees on all account types.
• Tight Spreads starting from 0.0 pips

Cons

• Not regulated by FCA UK
• The Minimum deposit is $200
• No investor protection for non-EU clients
• No Paypal, Crypto Deposit 
• Only two types of account ( Standard, Go Plus account)

Oanda

Founded by Drs. Stumm and Olsen in the USA in 1996, Oanda is one of the oldest and most experienced forex brokers in the world. The broker expanded into Asia in 2007, opened its London office in 2011, and its Sydney office in 2014. On its platforms, you can trade over 3,000 forex pairs, CFDs, and even real stocks. The broker is regulated by top regulatory authorities including ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, and FSC in BVI. Oanda offers multiple trading platforms such as MT4, MT5, the fxTrade app, and TradingView. Oanda is also known for its currency transfer services as well as its MarketPlus trading analytics.

Key Features:

• Trading Instruments: CFD trading is not allowed for US clients; however, non-US clients can trade CFDs
• Maximum leverage: The maximum leverage of Oanda is 1:200 (global), 1:50 (US), 1:30 (EU)
• Minimum Deposit: No Minimum Deposit. 
• Account Types: Two (Standard, Elitetrader) 
• Trading Fees:  Spreads range from 0.1 to 0.6, and commissions range from 3.5 to 4 per lot (depending on account type).
• PAMM/ MAM:  
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Pros

• Regulated by the CySEC, FCA, CFTC, JFSA, IIROC, ASIC, MAS and FSC BVI
• Clients can trade over 1800 forex/CFDs and over 2000 real stocks.
• Platforms: MT4, MT5, and Oanda mobile apps on iOS and Android.
• Trading tools provided are MetaTrader premium tools, Autochartist, Market pulse analysis, etc.
• Customer support is provided in multiple languages and via different channels.
• Fast and user-friendly account opening
• The TradingView platform is available, alongside several VPS services for MT4 hosting.

Cons

• Bank withdrawals incur a fee which is transferred to the trader.
• Premium core accounts require a minimum balance of $20,000
• Inactivity fees are charged from dormant accounts.
• No account protection for U.S. clients
• No guaranteed stop-losses for U.S. or U.K. clients
• Traders in the U.S. cannot access single-stock CFDs
• No cent accounts, bonus programme for beginner traders

Can I trust these SGD Accounts Forex Brokers?

Yes, you can trust these SGD accounts, Forex Brokers. Brokersway recommends brokers based on facts and findings. We evaluate brokers based on 170 data points grouped into 6 macro categories,including regulations and security, fees, Trading experience, trading tools, customer support, and trading education. Multiple regulatory authorities regulate these brokers. So they are legit and trusted. Here are the regulations of these brokers

• Pepperstone: Regulated by 7 regulatory authorities, including FCA, ASIC, CySEC, BaFin, DFSA, CMA, and SCB
• IC Markets: Regulated by 3 Regulatory Authorities including FCA, CySEC, and ASIC
• Exness: Regulated by 8 Regulatory Authorities including CySEC, FCA, CMA, FSCA,  FSA in Seychelles, CBCS, FSC (Mauritius), and FSC (BVI)
• XM: Regulated by 5 Regulatory Authorities including ASIC, CySEC, DFSA, FSCA, FSC in Belize (Global)
• AxiTrader: Regulated by 4 Regulatory Authorities including CASIC, FCA, DFSA, FSA-SVG
• Go Markets: Regulated by 5 Regulatory Authorities including ASIC, FSC of Mauritius, CySEC, FSA in Seychelles, FSA in SVG
• Oanda: Regulated by 8 Regulatory Authorities including CySEC, FCA, CMA, FSCA,  FSA in Seychelles, CBCS, FSC (Mauritius), and FSC (BVI)

How Did We Select These SGD Accounts Forex Brokers?

To select the best forex brokers with SGD accounts, we follow the procedures below.

Research:

To choose the best forex brokers with SGD accounts, we conducted extensive research, focusing on the spreads, features, services, and regulations associated with each broker. We analyzed market trends, broker offerings, and user feedback to understand what traders value most. This comprehensive approach allowed us to build a solid foundation for our evaluations.

Data Collection:

We gathered data from various reliable sources, including official regulatory bodies, broker websites, and reputable financial news platforms. This data encompassed key metrics such as trading fees (spreads, commissions),  available assets, leverage options, and client support services. Additionally, we considered user reviews and testimonials to gauge trader satisfaction and experiences.

Verification:

After collecting data, we verified the information to ensure accuracy and reliability. This step involved cross-referencing details from multiple sources, including regulatory websites and independent reviews. By ensuring that our data is accurate, we aim to present an honest assessment of each broker’s strengths and weaknesses.

Live Testing:

We conducted live testing of the shortlisted brokers to provide a real-world perspective. This involved opening demo accounts and executing trades to evaluate the trading platforms, order execution speed, and customer service responsiveness. Our live testing process allowed us to assess each broker’s performance under actual market conditions, providing valuable insights into their functionality.

Scoring:

Finally, we scored each broker based on a set of criteria, including regulatory compliance, trading costs, platform usability, available trading instruments, customer support, and overall user experience. Each category was assigned a specific weight, reflecting its importance in the trading process. The scores helped us rank the brokers, ensuring that our recommendations align with the needs and preferences of traders who want to trade with SGD accounts forex brokers.