Company

Spread

for EUR/USD

Min.

Deposit

Platforms

Offered

Account

Types

Spread

Type

Funding

Methods

Customer

Support

Execution

Details
CFDs are leveraged products and can result in the loss of your capital. Rankings are influenced by affiliate commissions. All information collected on 1/11/2017.

The Ultimate Guide to

Choosing a Broker
For Singapore

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:

Ready?

Part 1

Why Choose
For Singapore?

scored best in our review of the top brokers for singapore, which takes into account 120+ factors across eight categories. Here are some areas where scored highly in:

  • + years in business
  • Offers + instruments
  • A range of platform inc.
  • 24/7 customer service
  • Tight spreads from pips
  • Used by 0+ traders
  • Offers demo account
  • 0 languages
  • Leverage up to

offers one way to trade: . If you wanted to trade EURUSD through copy trading or other means, skip to part two.

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

have a trust score, which is . This is largely down to them being regulated by , segregating client funds, being established for over years, and much more. For comparison:

Trust Score comparsion

Trust Score
Year Established
Regulated by
Uses tier 1 banks
Company Type Private Private Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We've compared these in detail in part three of this guide.

Part 2

Who is (& Isn’t)
Suitable For

As mentioned, allows you to trade in one way: .

Suitable for:

  • Spread Betting
  • CFD Trading
  • Forex Trading
  • Social Trading

Not Suitable for:

To trade with , you'll need a minimum deposit of $. offers a range of different account types for different traders including a , .

Finally, isn't available in the following countries: . They do not offer islamic accounts either.

Part 3

A Comparison of vs. vs.


Want to see how stacks up against and ? We've compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Fixed Spreads
Variable Spreads
EUR/USD Spread
GBP/USD Spread
USD/CAD Spread
USD/JPY Spread
DAX Spread
FTSE 100 Spread
S&P500 Spread

Comparison of account & trading features

Spread type Fixed
EUR/USD Spread
EUR/GBP Spread
Crude Oil Spread
Gold Spread Private Private Private
DAX Spread

Part 4

City Index

www.cityindex.com.sg

City Index are one of the top six contracts for difference (CFD) brokers for traders in Singapore, with a market share of around 9% in 2012. The City Index group have offices in London, Sydney, Dubai, Shanghai and Singapore, and they are regulated by the Monetary Authority of Singapore (MAS), which ensures that they act in accordance with stringent client money rules. They also have a Leveraged Foreign Exchange Trading licence.

The broker started its operations in 1983, and with over 30 years experience they have gained numerous positive client testimonials regarding their CFD and Forex trading services. City Index are famous for their powerful MetaTrader4 FX software, which helps clients trade online effortlessly. The software provides one-click dealing, smart comparison graphs, real-time stock performance and much more.

City Index offer a free demo account, in which clients get 1000 virtual Singapore Dollars to trade with before starting the live account. Traders from Singapore can open an account with City Index with just 500 SGD.

IG Markets

www.ig.com/sg/

IG Markets Singapore is a subsidiary of IG Group, the UK-based financial services firm, which deals in contracts for difference (CFDs) trading, financial spread betting, stockbroking and consultancy. The Monetary Authority of Singapore grant IG Markets a licence for leveraged foreign exchange trading and dealing in securities, and they are licensed to trade CFDs in commodities by International Enterprise Singapore. With 15% of the CFD market share and 13% of the FX market share, they were in the top three providers for retail traders in Singapore in 2012.

IG Markets have a special web-based platform for traders. The platform has a slew of tools, including options to set alerts on Tear-off prices, Reuters trading news, charts, watch-lists and real-time stock tracking. IG also has a special iOS and Android app. There’s no minimum balance requirement to open an account with IG Markets. Investment Trends ranked IG Markets as the top FX broker in Singapore in 2013.

AvaTrade

www.avatrade.com

AvaTrade are an Ireland-based FX and CFD broker offering trading services in stock indices, currencies, commodities, bonds, ETFs as well as Bitcoin and other cryptocurrencies. AvaTrade are authorised and licensed to operate worldwide by several different regulatory bodies, including the the Japanese Financial Services Agency (FSA) and the Central Bank of Ireland within the EU. They have offices in 11 locations around the world, the closest to Singapore being in China and Japan.

AvaTrade have over 200,000 registered customers around the world and offer various online tools for easy direct market access (DMA). These tools include MetaTrader 4, MT4 Floating Spreads and AVAOptions.

Clients can open an AvaTrade demo account with US$100,000 virtual funds before opening a real account. The minimum deposit requirement for a live account with AvaTrade is US$100. Clients from Singapore can credit their account using several payment methods including Visa, MasterCard and Wire Transfer.


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