List of the 5 best Forex Brokers Singapore and how to find them

It offers one of the best execution speeds in the industry with low latency below 0.004s. Plus500 requires a minimum deposit of £100 if using a credit or debit card, and £500 if using bank transfer. At WikiJob, we are not financial advisors and any information provided throughout this article is for educational purposes only.

• Although the majority of these brokers are not MAS regulated brokers in Singapore, they are still known as safe and secure brokers that can be trusted by traders due to the services that they offer.
• Most demo accounts give you a fixed amount of virtual money, such as $10,000 or $100,000, and you can use it as you wish.
• For example, a market maker could be incentivized to “create” an arbitrage event by front-running their own customer in order to make a profit at the client’s expense.
• The exact website that is best for you will largely depend on your needs and the type of trading that you hope to do.
• XStation is exceptionally popular with their clients, has won several awards and was ranked well in numerous independent industry lists.
• 80.2% of retail investor accounts lose money when trading CFDs with this provider.
• The best place to look is at brokers geared towards retail or casual traders, like eToro, because they have been specifically designed to help beginners.

The company enables business owners to choose White Label MetaTrader , as these trading platforms lead the market, empowering traders with access to tens of trading instruments, tools, and timeframes. XTB has more than 15 years of experience and it offers traders more than 1,500 trading instruments. Clients of the broker can enjoy fair and safe trading as the company is regulated by the FCA, KNF, CySEC, and IFSC, which are well-respected jurisdictions. Traders choose from several convenient payment methods for their deposits and withdrawals, including PayPal.

IG Markets

Furthermore, XM offers Islamic trading account types for Muslim traders from Asian countries. The XM Islamic account frees its clients from paying interest rates, such as swap fees or rollover charges on overnight positions. Moreover, XM Islamic account has won an award for the best Islamic account of 2020.

NordFX is an international forex broker providing online trading services since 2008. The company is headquartered in Mauritius and regulated by the Financial Services Commission . NordFX offers its clients a wide range of forex pairs, CFDs, and metals for trading. RoboForex is a brokerage company that was founded in 2009 to provide first-class financial services to markets all over the world. Roboforex now serves clients in 169 countries and has more than 3.5 million users. In this guide, we will discuss how to choose the best forex brokers, why you should start forex trading, the pros and cons of forex, and more.

Hear from some of the clients we’ve helped.

Although it’s always a good idea to check the terms and conditions before accepting a bonus. We use online research to compare each of the services against each other. Finally we use trustworthy online reviews in addition to our own experience for each platform. One option is to dive in with a demo account and learn the ropes that way. If you would prefer to do that, then use the button below to sign up and get started.

With this in mind, a modern broker must be able to provide the investors with services and products that meet their expectations in every respect. As already mentioned, cost transparency is of the utmost importance when choosing your broker. If the investor sets up a Stop Loss or Take Profit order, the platform will immediately display information on potential profit or loss levels. The calculator provides a transparent view of all transaction parameters, both before entering into and during the transaction. Thanks to this, the client has continuous access to information on fees and costs. XTB, as a leading Forex and CFD broker, offers both the MT4 platform and the innovative xStation platform, designed specifically to meet the needs of their investors.

Looking For a New MT4 Forex Broker?

It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.

In order to suit various types of traders, the broker provides Standard and Professional account types. Spreads and commissions vary across different accounts, but in general are very reasonable. In order to be able to open a Pro account you need to deposit at least $200. As for the Standard account, the minimum amount is starting from $10 and the amount depends on the payment system. To choose the best forex brokers, we focused on identifying mobile-friendly platforms with competitive spreads and trading fees, a wide range of currency pairs, and robust customer support. We also looked for regulated brokers who have been in operation for at least five years.

Can you get rich by trading forex?

ECS doesn’t retain responsibility for any trading losses you might face as a result of using the data hosted on this site. However, it has to be noted that these bonus programs come with complex terms and conditions frequently. None of the trading bonuses are withdrawable immediately and instead require traders to satisfy trading volume requirements before they can withdraw any forex solutions profits generated with bonus money. In case you have already decided to open a trading account with Exness, keep in mind that Exness Group does not accept clients from several countries including the USA. What makes Exness stand apart from the competition is the speed of execution. You don’t need to go through the lengthy process of registration, deposits and withdrawals.

Therefore, the competition between the participating companies is extremely high. This competition has a very positive effect on the quality of the brokerage services available on the market. It sets out certain market standards that the brokers are obliged to follow to attract https://xcritical.com/ customers and retain the existing ones on their trading platforms. However, it also causes a significant diversity on the market in terms of various fee structures, available financial instruments, account types of the brokers, and trading platforms offered to the clients.