Best Options Trading Platform Singapore 2024

For traders in Singapore looking for options trading platforms in Singapore, we analyzed and ranked the top online trading platforms to help you pick the best one. Options trades offer high profit margins for online brokers and the competition is fierce between brokers. This is great for investors as it brings innovation and competitive pricing into the industry.

Throughout this review, we will provide you with an overview of top online brokers for options trading in Singapore so you can make an informed pick if you are looking to start your journey as an options trader. If you are looking for the overall best online brokers in Singapore, check out our guide and analysis.

Best Options Trading Platforms in Singapore

Here are the Best Options Online Trading Platforms in Singapore for 2024:

  1. AvaTrade – Proprietary Options Trading Software Singapore – AvaOptions
  2. Interactive Brokers – Best Options Trading Platform in Singapore Overall – Visit IBKR >>
  3. Plus500 – Out Top Pick For Advanced CFD Options Traders in Singapore
  4. IG – Wide Variety of Options Available
  5. Saxo Markets – Best For Experienced Options Traders 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.

Going through all the available online options brokers available in the country may be a time-consuming task and this is the main reason why you should give this review a look, as it will help you in narrowing down your choices to make a quicker decision on which you would like to go with.

1. AvaTrade – Best Options Trading Platform Singapore Overall

AvaTrade is our top pick as the best platform for trading options in Singapore. AvaTrade is an online trading platform headquartered in the British Virgin Islands and regulated by various tier-1 jurisdictions including Ireland (Central Bank of Ireland) and Australia (Australian Securities and Investments Commission).

This online brokerage firm offers a wide variety of financial instruments for residents of Singapore including FX options.

What's the best about AvaTrade?

AvaTrade offers options traders a proprietary platform known as AvaOptions that focuses solely on this type of financial instrument, featuring a wide range of useful tools that are specifically designed to assist options traders in their activities.

Underlying assets available

AvaTrade offers FX options for 40 currency pairs.

How much do you need to open a brokerage account with AvaTrade?

The minimum deposit required to open an account with AvaTrade is $100 for credit cards and debit cards while accounts that are initially funded with a bank transfer require a minimum of $500 to be activated.

There are three types of accounts offered by this online brokerage firm:

  • Standard account
  • Corporate account
  • Islamic accounts – this account is swap-free.

Additionally, traders can also open a Professional trading account with AvaTrade. This account allows for a higher level of leverage. Still, it requires a significant track record of past trading activity along with a minimum of $500,000 balance and past experience in the financial sector.

Fees

Since AvaTrade offers FX Options, the cost of trading each option varies and it is commonly calculated in pips.

Deposits and Withdrawals

AvaTrade does not charge deposit or withdrawal fees. Deposits are credited instantly if they are made using credit cards, debit cards, or e-wallets, while bank transfers may take several days to be credited. We also wrote an in-depth review of AvaTrade for more information.

Withdrawals are reportedly slower than average, as they make take up to 3 days to be credited for credit cards, debit cards, and e-wallets and several days for bank transfers.

Additionally, for credit and debit cards there’s a maximum withdrawal limit of 200% of the last amount deposited. This limit does not apply to bank transfers.

Trading platform

AvaTrade’s offers a proprietary platform known as AvaOptions, which features great visual aids to understand the key elements associated with each option including a historical price chart, a real-time profit/loss chart, a risk/reward assessment tool, and many other similar features that are particularly useful to trade options easily.

The platform also offers the possibility of setting price alerts and notifications sent via push by using the web-based or mobile trading app of AvaOptions.

AvaOption supports 13 different options trading strategies including spots, calls, puts, and spreads, and these strategies can be tweaked in real time easily by using the platform’s user-friendly interface.

AvaOption also features limit and stop orders for option trades.

Read Full AvaTrade Review

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2. Interactive Brokers – Best Options Trading Platform in Singapore for Market Acces

Interactive Brokers is our top pick as the best platform for trading options and market access in Singapore. They offer powerful tools for advanced options and a robust trading platform. Commissions range from USD 0.15 to 0.65 per US option contract, which makes them an industry leader.

3 – Plus500

Featured Image Plus 500
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“CFD Service. Your capital is at risk.”

Plus500 is an Israeli online trading platform that was primarily conceived to serve retail traders around the world.

The company is headquartered in Israel and is regulated by top-tier jurisdictions including the Monetary Authority of Singapore (MAS).

What's the best about Plus500?

Plus500 offers a broad range of options on CFD contracts covering various asset classes including stocks, indexes, commodities, and currency pairs with the possibility of taking leveraged positions on put and call options to boost returns.

Underlying assets available

Since Plus500 options cover CFDs instead of the actual underlying asset, this broker offers a broad range of asset classes from its portfolio of 1,800 stocks (including US stocks), 33 stock indexes (including the US market), 92 ETFs, 22 commodities, 70 currency pairs, and 12 cryptocurrencies.

How much do you need to open a brokerage account with Plus500?

The minimum amount to open an account with Plus500 is $100 if the deposit is made via credit or debit card and $500 if the initial deposit is sent via bank transfer.

Clients from Singapore can opt for two different types of accounts:

  • Demo Account
  • Real account

Plus500 also offers 10 different base currencies for its accounts and traders can find if their currency is supported by contacting this broker’s customer support department.

Fees

There are no commission for trading options with this online brokerage firm as Plus500 is compensated via the bid/ask spread of each option contract. Plus500 does charge Overnight Funding, Currency Conversion Fee, Guaranteed Stop Order, and Inactivity Fees (more information here).

Deposits and Withdrawals

Plus500 does not charge a deposit fee regardless of which funding method is used. Deposits can be made by using a credit or debit card, an e-wallet, or via bank transfer.

On the other hand, the first five withdrawals of the month can be made without incurring a fee with this broker while any subsequent withdrawal will generate a $10 fee.

Additionally, there’s a $50 minimum per withdrawal and a $100 minimum if the withdrawal is made via bank transfer.

If the withdrawal amount is lower, a $10 fee will be deducted from the account.

Deposits and withdrawals made with credit and debit cards or e-wallets are credited instantly while bank transfers take at least two business days to be cleared.

Trading platform

Plus500 offers a proprietary user-friendly trading platform that has been reviewed positively by traders compared to other online brokers.

Both a web-version and a mobile trading app are available for users and they both offer a two-step login feature for an extra layer of security.

The online trading platform interface is not customizable, which is a disadvantage, but it was designed primarily thinking on amateur traders, which means that it is very easy to use.

The mobile trading app is available for both iOS and Android.

4 – IG

IG is one of the oldest online brokers in the financial sector with more than 30 years in the industry and it is regulated by various tier-1 jurisdictions including the Australian Securities and Investments Commission (ASIC).

This broker offers a wide range of securities for clients in Singapore including options on the thousands of instruments covered by their portfolio of CFDs.

IG is also a publicly-traded company listed on the London Stock Exchange.

What's the best about IG?

IG offers options on CFDs that cover more than 17,000 different markets, including US stocks and US market indexes, along with 93 currency pairs.

Additionally, this platform requires a low minimum deposit, offers top-notch research tools, and has a great customer support team.

Underlying assets available

IG offers options on CFDs covering more than 17,000 different markets and a wide range of financial instruments including stocks, indexes, futures, commodities, cryptocurrencies, and forex.

How much do you need to open a brokerage account with IG?

A minimum deposit of £250 is required to open an account with IG if the funding method is a credit card, debit card, or e-wallet, while no minimum amount is required to open an account if the funding method is a bank transfer.

Fees

IG does not charge trading fees on options as their compensation is embedded in the bid/ask spread of each option contract.

Deposits and Withdrawals

No deposit or withdrawal fees are charged by this broker.

Deposits can be made by using a debit or credit card, e-wallets, or bank transfers and the same applies to withdrawals.

Deposits made with credit, debit cards, or e-wallets are credited instantly while bank transfers take longer to clear.

Withdrawals take at least two days to be credited regardless of the method.

Trading platform

IG offers both its proprietary trading platform and MetaTrader 4, which is a third party trading platform.

Both the web version and the mobile trading app of IG are only available in English.

The proprietary trading platform is very user-friendly and highly customizable and the same goes for the mobile trading app.

A demo account can be opened to test the platform before depositing money.

5 – Saxo Markets

Saxo Markets is among the most exclusive online brokers in the world, primarily serving high net worth clients and asset managers from multiple latitudes through its top-of-the-line proprietary trading interface and relying on the support of a well-reputed bank – SaxoBank.

This online broker is regulated by various tier-1 jurisdictions including the Australian Securities and Investments Commission (ASIC).

What's the best about Saxo Markets?

Saxo Bank is not the best choice for amateur or entry-level traders as its services are mostly designed for experienced traders that require advanced tools to conduct their trades. Additionally, Saxo’s customer service team is excellent.

Underlying assets available

Saxo Markets offers options on more than 1,200 listed securities from 23 different global exchanges including stocks, commodities, and forex pairs. Maturities for the 44 FX pairs offered by this broker range from 1 day to 12 months.

How much do you need to open a brokerage account with Saxo Markets?

The minimum amount required to open an account with Saxo Markets in Singapore is S$3,000 for Classic Accounts, S$300,000 for Platinum Accounts, and S$1,500,000 for VIP accounts.

Fees

Forex options with this broker start at 3 pips for the EURUSD pair and commissions on other listed options start at $2 per lot.

Deposits and Withdrawals

No deposit or withdrawal fees are charged by this broker.

Deposits can be made via credit card, debit card, or bank transfer with the downside that deposits with e-wallets are not available.

Withdrawals can only be made to a bank account.

Trading platform

Saxo Markets’ proprietary trading platforms, called SaxoTraderGO and SaxoTraderPRO, are among the best online platforms in the industry, offering a web-based, mobile, and desktop version.

Their interface is very modern and user-friendly, the layout is highly customizable, and they provide a two-step login feature for an extra layer of security.

The mobile version is available for Android and iOS.

What you should look out for to pick an options broker in Singapore?

There are a few variables you should take into account when picking an online options broker.

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

  • Available markets and asset classes – one thing to watch for before picking an options broker is the number of stock exchanges and asset classes covered by the platform. The higher the number, the better, as traders commonly enjoy having a wide selection of available asset classes to trade options on them.
  • Margin accounts – margin accounts are useful to conduct leveraged operations, which means you will use funds borrowed from your brokerage firm. Each platform has its own rules and limits for leveraged transactions and they often express how much leverage you can use in the form of 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 trading 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 – the cost of trading options can be broken down into two: the fee per contract and the trading commission or fee. The cost of trading options has gone down significantly lately and some brokers even offer commission-free option trades.
  • Research tools – trading options successfully involves a significant amount of effort to anticipate market swings to profit from them. Trading tools, research materials, and insights are tools your broker should be able to offer.
  • Education & training materials – derivatives are significantly more complex than traditional financial assets such as stocks and bonds. If you are new to trading options, your broker should be able to offer at least some level of assistance in terms of providing educational materials to help you in your journey of becoming a successful options trader.
  • Types of orders – having a wide range of available alternatives when it comes to trade orders is a positive feature, especially for trading options, as entering and exiting your positions at the right price will have a tremendous impact on your returns.
  • Security – your personal information and money are vital for you and they should be protected by your brokerage firm as well.
  • Interface and ease of use – you will spend a significant amount of time browsing through and screening for potential option trades across various options chains and having a user-friendly interface that displays all the information you need in an easy-to-read and understandable manner is a big plus.
  • Extra features – online trading platforms in Singapore have their own way to serve clients by introducing extra features that are valuable to option traders such as drawing tools, technical indicators, VIP services, and premium research materials, among other things.

Which institution oversees brokerage firms in Singapore?

The Monetary Authority of Singapore (MAS) is the regulatory body in charge of overseeing active brokers in the Singapore market 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 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.

Options Trading In Singapore

Here is a summary of our top picks for options trading:

RankBrokerBest ForWebsite
1Interactive Brokers Top Pick for Options Trading in SG Open Account
2AvaTradeBest Proprietary Platform AvaOptionsOpen Account
3Plus500Our Pick For Advanced Options TradersOpen Account
“CFD Service. Your capital is at risk.”
4IQ OptionGreat for Options TradingOpen Account
5IGWide Variety of Options AvailableOpen Account
6Saxo MarketsBest For Experienced Options TradersOpen Account

Singapore is a highly developed Asian country that occupies a place among the wealthiest economies in the world, being the 8th country with the highest GDP per capita according to the most recent statistics.

One of the things that have helped Singapore in fueling its economic growth is the fact that the country opened up its capital markets and its doors to foreign investors who can freely take positions in Singaporean publicly-traded companies through the country’s primary exchange, the Singapore Stock Exchange (SGX).

This exchange hosts 715 different stocks from companies in Singapore, China, and overseas and it also hosts a wide variety of other asset classes apart from stocks including bonds, exchange-traded funds (ETFs), mutual funds, and derivatives, such as stock options and warrants.

One of the most interesting features of the Singaporean capital markets is that they are highly diversified in terms of the economic sectors that participate in the exchange, which means that investors can get exposure to various industries such as oil & gas and telecommunications to participate in the development of multiple markets.

Many brokers currently offer their trading platforms to Singapore’s residents to allow them to trade options for various instruments within the Singapore Stock Exchange and also from other stock exchanges around the world.

About the author

Ziga Breznik is the owner and head of research at PublicFinanceInternational.org – he is an active investor in the forex, crypto and stock markets – he has seen trading platforms disappear along with his investments – especially during the “crypto boom”. Ziga learned the hard way that finding a reputable and trustworthy online brokerage is key to long-term success in the financial markets. He founded PublicFinanceInternational.org as a platform where he shares his research with one goal in mind: to provide unbiased and trustworthy online brokers reviews.