Best CFD Brokers in Singapore

2 Popular CFD Brokers regulated in Singapore

Apr 2021

Here’s a breakdown of some of the best and most popular CFD brokers in Singapore.
Broker Regulated by Regulatory agencies ensure that brokers operate in a transparent and honest way. They protect the best interests of clients and also feature an investor compensation scheme which protects trader's deposits up to a certain limit. Some of the major regulators in the industry include the CySEC in Cyprus, the FCA in the UK and the ASIC in Australia. Min. deposit Trading platforms A trading platform is a computer or mobile software program used to execute transactions within the financial markets. Spreads from Special features A list of features that provide a given broker with a competitive edge. Ad Disclosure The table below contains links to 3rd party websites of our top partners from whom we receive compensation at no additional cost to you.
MAS S$200 In-house built platform 0,6 PIPs *
  • Very competitive fees
  • User-friendly trading platform
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MAS $150 MT4 0,9 PIPs *
  • Wide number of CFDs
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Remember that CFDs are a leveraged product and can result in the loss of your entire capital.
Trading CFDs may not be suitable for some investors. Please ensure you fully understand the risks involved
* Variable spreads vary according to the current market conditions, recorded for EUR/USD on 07.05.2020 at 17:22 GMT+1.


The CFD market is more live than ever, especially in the Southeast Asian trading hub, Singapore. While many popular European (CySEC) regulated brokers accept traders from Singapore (like IQ Option or XM.com), featuring interesting trading conditions and trading bonuses, we believe that the best option for traders from Singapore is to trade solely with a broker that is regulated by the central bank of Singapore (MAS). A broker that is regulated by the MAS can provide to traders from Singapore extra protection in case they feel like their chosen broker does not have clients’ best interests in mind. Without further due, let’s take a look at important aspects that every Singaporean trader should consider before selecting a CFD broker.

How to go about choosing the best CFD Brokers in Singapore

Not to get scammed or treated unprofessionally, you ought to trade with regulated brokers only. Traders from Singapore should look for brokers that are regulated by the Monetary Authority of Singapore (MAS). This financial regulatory authority oversees MAS regulated entities and makes sure that all companies comply with MAS rules and regulations.

 

Before you select a CFD broker and deposit any funds, make sure that the given company features CFDs that you want to trade. The availability of CFD assets differs drastically from a broker to broker. While one CFD provider might feature CFDs on a couple of forex pairs and stocks, others might provide access to thousands of assets. So in case you already know what assets you want to trade, verify that your CFD broker features them on its platform.

Each CFD broker operating in Singapore offers different maximum leverage (which also differs depending on what assets you trade). While you will most likely use some kind of leverage when trading CFDs, make sure the leverage is in accordance with your trading experience. After all, leverage trading is a two-edged sword.

Many CFD brokers operating in Singapore offer a so-called deposit bonus. You make a deposit in a certain amount and they give you some kind of bonus (usually it is calculated based on the amount you deposit). While the deposit bonus might seem like a great chance to get your hands on a "free capital", it usually isn't that easy and the deposit bonus is tight to certain terms and conditions. If you accept this deposit bonus, make sure you know these conditions in and out so once you get to withdrawing your earnings it is nothing but a smooth ride.

The capital you use for trading CFDs should reflect on your financial situation. Luckily, today many CFD brokers allow to Singaporian traders to start trading CFDs with as low as S$200, which makes trading CFD more accessible in Singapore than ever. If you want to trade with bigger amounts, remember that you should never invest more money than you can afford to lose.

Fees – as low as possible

Fees. Every broker has them and there is no way how to completely avoid them. With that being said, we should go for a CFD broker that charges as low fees as possible. As a CFD trader, the most common fee you have to deal with is the spread (I.e the difference between ask and bid price.). Most CFD brokers will tell you that their spreads are variable and that they change according to the current market conditions. That is why I find the best practice to go directly to the broker's website and check their live spreads on assets I want to trade. By doing so, I know exactly how much they are going to charge me with and I can compare these data with other CFD providers.

Overnight fees

In case you stay in your position when the market is already closed, you will have to pay the overnight fee. As a CFD trader who usually stays in trades for a couple of minutes or hours, this is not a substantial fee. However, if you want to stay in your positions for overnight or a couple of days, make sure you know the overnight funding conditions.

Bonuses

Offering CFDs in one of the most competitive Asian markets (Singapore) ain't easy and that is why most brokers offer some kind of bonuses to boost their attractiveness in the eyes of Singaporean traders. Usually, there are two types of bonuses: deposit bonus and rebates. The former is, as the name suggest bonus to your first deposit and the latter is dependent on your trading activity. (basically, the more you actively trade, the bigger rebate bonus you get)

Broker Deposit bonus Rebates
Plus500 Ranging from S$80 to S$13,000 Yes, for 12 days after the initial deposit
CityIndex No No

2 Popular CFD Regulated Brokers in Singapore

Go to broker
When trading with real money, your capital is at risk.

Plus500

The number of tradable CFDs 2 500+
Shares (1500+-), forex pairs (71), indices (27), cryptocurrencies (4), commodities (25), options (720) and ETFs (95).
Plus500 is a long-established CFD broker with one of the most competitive fees in the CFD industry. Plus500SG is licensed and regulated by the Monetary Authority of Singapore (License No. CMS100648-1). The minimum deposit for Singaporean traders is set at S$200, a free practice demo account can be opened at any time. Plus500 also offers exclusively to Singaporian traders a deposit bonus and a rebate program they can join (T&Cs apply)
Go to broker When trading with real money, your capital is at risk.

CityIndex

The number of tradable CFDs +-4 600
CFDs on forex (84 FX pairs), Shares (4500), Indices (17), Commodities (26), Cryptocurrencies (5)
CityIndex is also regulated by the MAS and features probably the most CFDs on its platform from all CFD brokers. The minimum deposit is set at $150, tho when funding via credit/debit cards, there is a minimum amount per card transaction of $250. The company features a popular trading platform MT4 and a free practice demo as well.

Conclusion – The best CFD Broker in Singapore

Every trader has different preferences so we cannot determine for Singaporean traders who is the best CFD broker on the market. With that being said, this article featured 2 popular CFD providers that are regulated in Singapore by the central bank of Singapore (MAS) and which have in my opinion superior offer.

Michael

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