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Best Online Trading Platform Singapore 2020

Singaporeans looking for the best online trading platform have a variety of options. In this list we go over the top brokerage firm in Singapore for 2020.

Online Trading Platform Singapore 2020

Our top picks for the best online trading platform in Singapore are:

  1. IQ Option is the best online broker for Singaporeans. Wide range of instruments. Won multiple awards.
  2. AvaTrade comes in close second. Wide variety of instruments. Regulated by top-tier financial authorities.
  3. Plus 500 comes in number three. Great trading platform and fees for US and SGX stocks. High minimum deposit.
  4. Interactive Brokers Singapore. Wide range of financial products. Credit and debit cards not available.
  5. Saxo Markets at number four. Impressive portfolio of CFDs. Trades can only be made through CFDs.
  6. City Index. Low trading fees for forex CFDs. Their trading platform is somewhat complex.
  7. TD Ameritrade. Fixed trading fees for US stocks and good customer support. Minimum deposit is $3,500.
  8. Phillip Capital. Great local online broker. Pre-paid account stocks are held in a custodian account.

Best Online Brokers Singapore 2020

RankBrokerInfoScoreBest ForWebsite
#1IQ OptionBest Overall4.9/5Stocks, Forex,Options and CryptoOfficial Website
#2AvaTradeBest Web Trading Platform4.9/5Low SpreadsOfficial Website
#3Plus500Best for CFD Traders4.8/5Variety of InstrumenetsOfficial Website
#4Interactive BrokersBest for Low Cost ETFs4.8/5ETFsOfficial Website
#5Saxo MarketsBest for Premium Traders4.6/5Best Premium BrokerOfficial Website
#6City IndexBest for Experienced Traders4.5/5CFD PlatformOfficial Website
#7TD AmeritradeBest for US Markets4.4/5US StocksOfficial Website
#8Phillip CapitalBest Local Singapore Platform4.2/5Local BrokerOfficial Website

Singapore’s economy is one of the wealthiest in the world, as the country has the 8th highest GDP per capita according to recent statistics.

Its highly developed economic system started booming since 1965 when the government introduced a set of structural changes that propelled the economy into an era of unprecedented economic growth.

By encouraging foreign investments through business-friendly policies Singapore has managed to become one of the top economies in the globe, receiving billions of dollars in fresh capital every year and serving as a major hub for multinationals who are seeking to establish themselves in the Asian continent.

Meanwhile, the Singapore Stock Exchange (SGX) is the primary stock exchange in the country with an estimated market capitalization of $800 billion and moving a volume of approximately 30 billion shares per month valued at around $29 billion.

Now that we have provided some context to how online trading platforms work in Singapore, here is a list of the 8 best online brokerage firms for investors in Singapore.

Why should you read this guide?

Singapore is a major financial centre in the Asian continent and this has attracted the interest of the world’s leading investment banks, brokerage firms, and trading platforms.

Browsing through all the alternatives available may be a time-consuming activity, especially if you are eager to start.

To help you out in this endeavor, we have gathered a list of the best platforms available for Singapore’s residents to narrow down the list so you can make an informed decision based on a set of standard variables we have used to qualify each broker.

#1 IQ Option – Best Online Brokerage Overall

IQ Option was founded in 2013 and is regulated by Cyprus Securities and Exchange Commission (CySEC). This trading platform is available as an online brokerage and a mobile app. IQ Option is a very popular online broker in Singapore and has more than 7,000,000 registered users worldwide.

What’s best about this trading platform?

Their platform was awarded multiple awards: Best Trading App, Award of Excellence, Century International Quality Gold ERA Award, WMA Best Technology Application, Best Mobile Trading Platform (IFM Awards) – to name just a few. It is well thought out and user friendly. They handle more than 20,000 transactions per day and their instant withdrawals in 8,5 hours on average.

On average, it takes just 43 seconds to get an answer from the live chat and 20 minutes via email.

Order processing takes just 0.6 seconds on average.

What can you trade?

IQ Option has many asset classes in Forex, Options, Stocks, Crypto Commodities and ETFs.

Forex48 Forex Pairs
Options48 Options
Stocks184 Stocks
Crypto12 Cryptocurrencies
Commodities4 Commodities

Minimum Deposit

Deposit MethodMinimumCommissionProcessing Time
Visa/Mastercard10 EUR
10 GBP
10 USD
300 RUB
Wire Transfer10 EUR
12 USD
10 GBP
300 RUB
0%3-5 Business Days
Skrill10 EUR
10 USD
10 GBP
300 RUB
PayPal10 EUR
10 USD
10 GBP
300 RUB
Neteller10 EUR
10 USD
10 GBP
300 RUB
WebMoney WME10 EUR
10 USD
10 GBP
300 RUB
WebMoney WMZ10 EUR
10 USD
10 GBP
300 RUB


IQ Option spread vary, depending on market conditions and liquidity. Overall spreads are good. IQ option discloses their spreads and updates them regularly. Overnight funding is charged for keeping positions open. Full IQ Option Review

An inactive trading account fee is deducted for the amount of 10€/month for trading accounts that don’t place any orders in 90 consecutive calendar days.

There is a $31 withdrawal fee applicable but only for wire transfers. There is also a minimum withdrawal of 2€.

2 AvaTrade – Competitive trading fees & commissions

AvaTrade was founded in 2006 and is regulated by top tier financial authorities. AvaTrade is a safe broker with award winning support and a variety of tradable assets.

What’s best about this trading platform?

AvaTrade offers a wide variety of instruments: Indices, Forex, Cryptocurrencies, Stocks, Commodities, ETFs, FXOptions and Bonds. This broker is considered safe and is regulated across 6 jurisdictions and 5 continents by top-tier financial authorities. They AvaTradeGO mobile trading app is very user friendly and has a lot of built in tools. They also offer AvaProtect (must be purchased), a unique feature that protects positions by removing risk for a protected period.

What Can You Trade?

Financial InstrumentAvailable
Forex45 Forex Pairs
StocksOver 600 Stocks
Commodities18 Commodities
Indicies22 Indicies
FX Options44 FX Options
Bonds2 Bonds
Cryptocurrencies14 Cryptocurrencies

Minimum Deposit

When depositing money, you have standard options such as Debit and Credit cards and wire/bank account transfers. AvaTrade also offers e-wallet deposits such as Skrill, WebMoney and Neteller (not available to EU and Australian clients). The minimum deposit depends on your base currency.

Debit and Credit Cards:

  • USD account – USD $100
  • EUR account – €100
  • GBP account – £100
  • AUD account – AUD $100

Wire Transfer:

  • USD account – USD $100
  • EUR account – €100
  • GBP account – £100
  • AUD account – AUD $100


In November 2019 AvaTrade dropped their spreads by up to 50%, making them one of the best prices online brokers. Trading fees are low, making it perfect for traders that trade often. Overall their trading fees are good to work with, some are low, while others are average, compared to other platforms.

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3 – Plus500 – Best for CFD Traders

Plus500 was founded in 2008 and is a global CFD and Forex broker. The company is listed on the LSE (London Stock Exchange). Plus500 specializes in CFDs and is truly a leader in this category. Their platform is solid for traders of any level.

What’s best about this trading platform?

The fact that Plus500 is a publicly traded company, listed on the stock exchange makes this a trustworthy broker. Plus500SG Pte Ltd is registered in Singapore. Furthermore, their wide variety of CFDs offered is one of the best in the industry.

What Can You Trade?

Plus500 offers a wide range of CFDs and Forex currency pairs. The following products are available at the moment:

  • Spot Currency Pairs
  • Stock CFDs
  • Stock Index CFDs
  • ETF CFDs
  • Commodity CFDs
  • Cryptocurrency CFDs

Minimum Deposit

If the deposit is made using a credit cards, debit cards or electronic wallet, the minimum to open an trading account with Plus500 in Singapore is USD $100. For bank account transfers, the minimum deposit is $500.


The trading fees are low. Withdrawals are free for the first 5 withdrawals/month. Their commission or trading fees are built into their spreads. The average costs are low, considering all costs.

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4 – Interactive Brokers Singapore

Founded in 1978, Interactive Brokers (IBKR) is a large discount broker that is regulated by two tier-1 jurisdictions: the US Securities and Exchange Commission (SEC) and the Financial Conduct Authority (FCA) of the United Kingdom.

This company has been picked as one of the best platforms for day traders and a great alternative for commodity traders due to its advanced technical analysis features and competitive rates.

What’s best about this trading platform?

Interactive Brokers is based in the US and just recently opened an office in Singapore. Traders have the possibility of trading US stocks and ETFs at fairly low commissions and trading fees. Their platform is user friendly and highly customizable.

Furthermore, the process of opening an trading account with Interactive Brokers can be done 100% online and it only takes between 2 and 3 days to get verified.

What can you trade?

Interactive Brokers offers many popular asset classes available in the world as this online brokerage covers more than 135 exchanges worldwide.

Available products include stocks from over 78 different stocks markets, over 13,000 ETFs, 105 foreign currency pairs, mutual funds from 261 different providers, 62,621 different bond issues, access to 33 options markets and 35 futures markets, 7,100 stock through CFDs and 13 stock indexes.

This broker also offers a limited selection of cryptocurrencies.

IBKR also provides an asset management service called Interactive Advisors that requires a minimum investment of USD $100.

Minimum Deposit

There are many different types of accounts available depending on the type of investor you are. These include:

  • Individual accounts.
  • Joint accounts (held by two or more individuals).
  • Trust accounts.
  • Friends and family accounts (for a client group of 15 members or less).
  • Small business accounts.
  • Advisor accounts.
  • Money manager accounts.

No minimum deposit is required to open an account with Interactive Brokers but there’s a USD$2,000 minimum deposit for margin accounts.


At Interactive Brokers, trading fees are fairly lower compared to the market average. In fact, stock and ETF trades are free for US customers using the IBKR Lite pricing plan.

For customers in Singapore, the fee for trading US stocks is $0.005 per share with a minimum commission of $1 and a maximum fee of 1% of the value of the trade, or 0.5% of trade value maximum for SMART routed orders.

Higher trading fees apply to international stocks (non-US).

For forex pairs the trading fee starts at 0.2 bps for trades below $1 billion with a minimum fee of $2 for EUR/USD.

Inactivity fees are $20 per month if the account balance falls below $2,000 or the account generates less than $10 in commission in a month.

There are no inactivity fees for accounts with over $100,000 or if the trading account generates $10 in commissions / month. Otherwise the client pays $10 minus any commissions paid that month. With IBKR Lite service, available in the US, there are no inactivity fees.

Mutual fund investments cost $14.95 per transaction or 3% of the value of the trade, whichever lower.

For US treasury bonds the cost for a transaction worth $10,000 is $5 and for EU government bonds the cost would be $10. Trading US corporate bonds cost 0.10% of their face value with a maximum fee of $250 or 1% of the value of the trade.

Trading US options costs $6.50 per every 10 contracts while trading US stock index futures cost $8.5 per every 10 contracts.

CFD benchmark fees vary depending on the underlying asset. US stocks generate a fee of $0.005 per share while European and Australian stocks generate a commission fee of 0.05% of the value of the contract.

Wide range of financial productsStocks are not credited to the trader’s CDP account. They are held in a custodian account.
Highly competitive trading feesCredit and debit cards are not available to deposit funds
No minimum deposit required to open an account with IBKR
Regulated by two tier-1 jurisdictions (US and UK)
Great customer support features including live chat, phone calls, and e-mail
Demo trading account available and great educational videos and platform tutorials
One free withdrawal per month
No deposit fees

5 – Saxo Markets

Saxo Markets is an online brokerage firm backed by a Danish bank called Saxo Bank that was founded in 1992. This online brokerage is highly popular, especially among experienced investors, even though its services are a bit more exclusive, and expensive, than other brokerage firms in Singapore.

What’s best about this trading platform?

Saxo Markets provides its investors with an award-winning trading platform that features excellent research materials, technical analysis tools, real-time quotes, and other impressive features.

What can you trade?

Saxo Markets offers many asset classes to their investors such as: stocks, ETFs, bonds, derivatives, commodities, foreign currencies, and CFDs through their SaxoTrader GO and SaxoTrader PRO platforms which provides access to more than 40,000 global markets and 37 global stock exchanges.

When it comes to stocks, Saxo provides investors with a selection of more than 19,000 single stocks including US stocks, stocks ETFs, and Singaporean stocks.

Minimum Deposit

There are essentially three types of brokerage accounts offered by Saxo Markets to investors in Singapore. The minimum deposit varies:

  • Classic account – Minimum deposit: S$3,000.
  • Platinum account – Minimum deposit: S$300,000.
  • VIP account – Minimum deposit: S$1,500,000.

Each of these accounts provides different levels of access to research tools, platforms, educational & training materials, and customer support for clients in Singapore.


Saxo Markets offers one of the lowest costs per trade for Singaporean stocks 0.08%, per trade with a minimum of S$10. Meanwhile, forex trades start at 0.6 pips for the EUR/USD pair.

Here’s a list of the trading fee applicable to other securities traded through Saxo:

  • CFDs – 0.06% of contract value (minimum fee USD$ 7).
  • Bonds – 0.02% of contract value (minimum fee EUR 80).
  • Commodities – commission fee of USD$ 6 per transaction (derivatives) or 0.10% of contract value for spot trades.
  • Mutual funds offered by Saxo Markets are fee 0, which means no commission fee applies to trades involving these financial vehicles.
Saxo Markets is backed by a regulated Danish bank.High minimum deposit for high-end accounts.
Award-winning platform.Stocks are not credited to the trader’s CDP account. They are held in a custodian account.
Top-notch customer service.
Low trading fee for US stocks and SGX stocks.
Wide range of securities available for traders.
Various types of brokerage accounts, including VIP accounts.
Good CFD portfolio.

6 – City Index

Being backed by one of the world’s major retail online brokers, GAIN Capital, has boosted City Index’s credibility within the investment community and investors can benefit from the platform’s top-tier research tools and low-cost approach.

What’s best about this trading platform?

This broker’s main competitive advantage is its low trading fees compared to its closest rivals. Additionally, City Index allows investors to use an advanced feature called AT Pro, which conducts automated technical analysis to provide guidance for thousands of financial instruments while identifying potential trading signals.

What can you trade?

City Index provides CFDs for a wide range of asset classes including more than 4,500 global stocks, 17 indexes, 84 foreign currency pairs, and nearly 26 different commodities.

Minimum Deposit

There are two types of accounts that can be opened with City Index.

  • CFD trading account – gives traders access to the entire CFD portfolio offered by City Index.
  • FX on MT4 account – this trading account is an interesting choice for experienced traders as it allows them to trade both CFDs and spot FXs.

There is no minimum deposit required to open an trading account with this broker.


While City Index doesn’t charge a trading fee, they do charge a commission fee on CFD trades including a 0.08% per stock CFD trade with a minimum fee of S$10.

Furthermore, FX CFD trading fees are highly competitive at 0.5 pips for EUR/USD trades. Meanwhile, the minimum fee for a commodity CFD trade is 0.4 points for US oil.

Low trading fee for forex CFDsIt is a better choice for more experienced traders due to the complexity of their trading platform
Commission fees don’t apply to FX on MT4 accounts
Decent portfolio of stock CFDs (4,500 global shares covered)
Great alternative for hardcore FX traders (84 FX pairs featured)
Decent portfolio of commodities

7 – TD Ameritrade

TD Ameritrade is a US-based electronic trading platform that offers a wide portfolio of financial instruments to traders in Singapore. The potential acquisition of this platform by Charles Schwab makes it an interesting choice, as its portfolio, research tools, and other interesting features may be further enhanced by Schwab’s extensive knowledge base and educational assets.

What’s best about this trading platform?

TD Ameritrade opens the door to the attractive US financial markets to customers in Singapore by offering a wide range of financial instruments through a user friendly platform called ThinkorSwim which operates through both a desktop and a mobile app version.

What can you trade?

TD Ameritrade allows its clients in Singapore to trade US stocks, options, futures, and ETFs at fairly low trading fees.

Minimum Deposit

Opening an trading account with TD Ameritrade is fairly easy and it can be done online. It will take around 20 minutes to complete the process.

Since December 2019, accounts with an average balance of USD $100,000 or above will be entitled to 100 commission-free trades on stocks, ETFs, and options. If the balance is in a range between $50,000 and $99,000 the number of free trades will be 50 and for balances higher than $10,000 but lower than $49,999 the holder will be entitled to 25 fee 0 trades.

The minimum deposit required to open an trading account with this brokerage firm is USD $3,500.


TD Ameritrade charges a fixed brokerage fee of USD$10.65 per transaction to buy and sell US stocks (this includes ETFs). Options, on the other hand, pay a flat fee of USD$0.81 per contract plus USD$10.65 per trade.

Access to the US marketMinimum deposit of $3,500 required to open a TD Ameritrade trading account
Fixed brokerage fees for US stocks tradesThis broker acts as the central depository, which means you can’t store the securities at your CDP account
No trading fees for a limited number of trades for balances higher than USD$10,000
Great research tools and customer support

8 – Phillip Capital

Phillip Capital is a stockbroker with more than 45 years of positive track record in the financial industry and a presence in 15 different countries. The company has over 1 million customers around the world and has a custodian account that exceeds $35 billion from investors including high net worth individuals, hedge funds, companies, and family offices.

The company’s footprint in the Singaporean market can be traced back to 1996 when they introduced their POEMS online brokerage and they have expanded to other latitudes since then, providing services to European and Asian countries including Thailand, China, France, and the United Kingdom.

What’s best about this trading platform?

Phillip Capital understands how the Singaporean markets work as they were the first to introduce an online trading platform in the country. They also offer different types of accounts and their commission fees for SGX trades are very competitive.

Additionally, they also provide access to the US markets and offer a wide selection of mutual funds free of brokerage fees.

What can you trade?

This broker’s POEMS platforms provide access to over 25 markets in Asia, North America, and Europe and Phillip’s platform also offers more than 3,000 ETF products and over 1,000 mutual funds to choose from.

They also provide access to 26 global stock exchanges.

Minimum Deposit

Phillip Capital offers traders three different types of accounts including their Margin, Custodian, and Pre-paid accounts.

Depending on the account you choose, commission fees on different trades may vary.

The good news is, there’s no minimum deposit required to open an account with this broker.


This brokerage firm offers its pre-paid account holders a flat trading fee of S$10 per transaction for SG market trades and US$8.80 for US market trades.

No commission fees or trading fees are charged by this broker for mutual funds.

Phillip offers two different platforms for amateur and experienced traders (POEMS 2.0 and POEMS Mercury)For pre-paid accounts, stocks are not credited to the trader’s CDP account. They are held in a custodian account
Over 45 years of experience in the Singaporean market
Large portfolio of US market and Singaporean stocks
Wide selection of mutual funds and ETFs
Over 1 million active clients registered at POEMS
No minimum deposited required to open an account

What to look for when picking the best online broker in Singapore?

There are a few variables you should take into account when analyzing platforms in Singapore including how expensive it is to trade securities through them, how good is their customer service, their trading fees, the possibility of using your CDP account, and which institution serves as the central depository of the securities in case you are not able to do so.

A more extensive, yet not exclusive, list of those variables includes the following:

  • Available markets and securities – your trading platform should allow you to trade the securities you plan to focus on. There are certain platforms that specialize in providing a wide range of CFDs, while others focus on stocks, bonds, or ETFs. You should know which markets and securities you will have access to before you sign up.
  • Margin accounts – margin accounts are useful to conduct leveraged operations, which means you will use funds borrowed from your brokerage firm. Each trading platform has its own rules and limits for leveraged transactions and they often express how much leverage you can use through a ratio such as 33:1 or 10:1. This means that you can borrow $30 or $10 per each $1 you commit to that particular trade respectively.
  • Customer support – even though the platforms on this list operate smoothly most of the time, if you ever find an issue while conducting your trades you definitely want to count on the best customer service possible to solve the matter as quickly as you can.
  • Cost of trading – this is a major variable to watch out for before you sign up with online brokerages in Singapore as each firm has its own brokerage trading fees depending on the securities you buy and sell.
  • Research tools – trading ideas don’t usually come out of nowhere. Having a brokerage firm that is constantly pushing valuable information in your direction helps you in coming up with new trade ideas every day.
  • Education & training materials – nobody was born as a successful trader. Those who have achieved a certain degree of success investing in the financial markets are constantly learning about economics, businesses, and trading itself. Your trading platform should be able to help by offering educational and training materials to guide you in your journey to become a successful investor.
  • Types of orders – traders understand the importance of having a set of different types of orders they can use to limit losses and to strengthen their exit strategies. While limit and stop-loss orders are the most common, some online brokerage firms allow you to place guaranteed stop-loss orders which are particularly useful, especially for forex traders.
  • Security – your personal information and money are vital for you and they should be protected by your brokerage firm as well. As part of your assessment of the best brokerages in Singapore you should do some research to find out if they have ever dealt with data breaches or if accounts have mysteriously lost money due to unauthorized access of third parties.
  • Interface and ease of use – the place where you’ll spend most of your time as a trader is your computer screen.Therefore, the user interface of your online brokerage should be user friendly. To help you browse through a significant volume of charts, financials, and other relevant information without overwhelming your eyes or without constantly glitching.
  • Extra features – brokerage firms in Singapore have their own way to serve their clients by introducing extra features that are valuable to investors such as drawing tools, technical indicators, VIP services, and premium research materials, among other things.

What kind of financial instruments can you trade through these online platforms?

The largest and most popular brokerages in Singapore allow their investors to trade a wide range of financial assets and investment vehicles, including:

  • Stocks listed in the Singapore Stock Exchange (SGX) and other exchanges around the world, including US stocks.
  • Bonds, including corporate bonds, government bonds, and sovereign bonds.
  • Preferred shares and other similar fixed-income instruments.
  • Derivatives (futures, options, warrants).
  • Contracts for Difference (CFDs).
  • Exchange-traded funds (ETFs).
  • Mutual funds.
  • Foreign currencies.
  • Cryptocurrencies.

Additionally, the may also offer asset management services including actively-managed portfolios and wealth management solutions and advisory services.

What kind of trading fees will you be paying to trade different securities?

Trading fees vary from one brokerage firm to the other and they also fluctuate depending on the securities you intend to buy and sell.

Stock trades for example tend to pay a flat fee per transaction, while bond trades may be carried out with 0 fees, as the broker earns from the bid/ask spread rather than charging the investor’s account directly.

Meanwhile, forex trading fees are usually expressed in a certain amount of ‘pips’ which is one unit of the smallest decimal place in the value of the currency pair.

Moreover, your trading fees may vary widely depending on the type of account you open with your brokerage firm – ie. VIP accounts vs. Standard or Classic accounts.

That being said, most brokers state the minimum commission per trade in their advertisements, even though the actual commission you may end up paying could vary depending on the size of the trade, the liquidity of the security, and some other technical variables.

Regulation in Singapore

The Monetary Authority of Singapore (MAS) is the regulatory body in charge of overseeing active online brokers in Singapore through a set of regulations, licensing requirements, and other rules that promote transparency within the country’s financial markets.

Even though some brokers may not be registered by the MAS, the online brokers in this list are registered with at least one tier-1 regulatory body such as the Securities and Exchange Commission (SEC) of the United States or the Financial Conduct Authority (FCA) of the United Kingdom.

How can you start trading if you live in Singapore?

The first step to start trading if you reside in Singapore is to open a brokerage account with the brokerage firm you decide to work with.

In some cases, brokerage firms allow investors to open a brokerage account without a minimum deposit, while others may demand a small deposit of S$100 or S$200 to start.

Additionally, most online brokers conduct an identity verification process for their investors before activating their accounts by requesting legal documents that confirm your personal information.

These may include but are not limited to, a national ID card, passport, or utility bill, among other documents they may solicit to verify that you are in fact who you say you are.

In most cases only once this step is completed you can start trading securities.

There were 715 securities listed in the SGX by the end of April 2020 including shares of companies in Singapore (463), China (84), and other parts of the world (168).

Furthermore, the stock exchange provides exposure to businesses in various different industries including oil & gas, telecommunications, consumer goods, technology, and utilities and the exchange allows for different types of investment vehicles and asset classes including stocks, bonds, exchange-traded funds, and derivatives.

If you are an investor or trader based in Singapore and you want to learn more about how you can trade securities listed in the Singapore Stock Exchange or in other exchanges around the world, this list will provide you with a selection of the best online brokerage firms in Singapore to help you pick the one that fits your needs and expectations.

Bottom Line

The following list should guide you in the process of picking the best online brokerage in Singapore. If you have already short-listed one or two of the candidates presented here you can also conduct your own research to answer any additional questions you may have.

Additionally, you can sign up for a demo account before you sign up for the service and deposit real money on it. This way, you can test the platform, its features, the research tools available, and other interesting characteristics that could be valuable before you make a decision on who you go with.

You can also visit the website of the Monetary Authority of Singapore (MAS) to get more information on any of the online brokers listed here so you can rest assured that they are credible institutions and that they are appropriately regulated by either the MAS or any other tier-1 regulatory body in the world.

The Best Online Brokers in Singapore in 2020 are:

  1. IQ Option – Best Trading Platform Overall – 4.9/5 – Open Account
  2. AvaTrade – Best Web Trading Platform – 4.9/5 – Open Account
  3. Plus500 – Best Platform for Advanced Traders – 4.8/5 – Open Account
  4. Interactive Brokers – Best for Low Cost ETFs – 4.8/5 – Open Account
  5. Saxo Markets – Best for Premium Traders – 4.6/5
  6. City Index – Best for Experienced Traders – 4.5/5
  7. TD Ameritrade – Best for US Markets – 4.4/5
  8. Phillip Capital – Best Local Singapore Platform – 4.2/5

*CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.