Best MAS Regulated Brokers in Singapore

Singapore's forex and CFD trading market is thriving, attracting a growing number of traders from around the world. At the core of this expansion is the Monetary Authority of Singapore (MAS), the central bank and regulatory authority overseeing the nation's financial sector. The MAS ensures market stability by regulating forex and CFD brokers, enforcing fair practices, and protecting client funds through stringent requirements.

For traders in Singapore, choosing a MAS-regulated broker is crucial for safety, security, and credibility. MAS-licensed brokers comply with some of the strictest financial regulations in the world. In this detailed article, we will explore some of the best MAS-regulated brokers in Singapore, highlighting their key features and what makes them stand out.

Key Factors to Consider When Choosing a MAS-Regulated Broker

Every trader should choose a broker that aligns with their specific goals and preferences. That said, certain universal factors are essential for all. These include:

• Regulation - Ensure that the broker is licensed by MAS and appears in the official MAS Financial Institutions Directory. The MAS Financial Institutions Directory is the best way to confirm whether a broker is really under the regulation of the MAS. Many MAS-regulated brokers are also licensed in other top-tier jurisdictions, such as the FCA (UK), the CySEC (Cyprus), or the ASIC (Australia), which further enhances their credibility.
• Spreads and Commissions - Trading costs vary across brokers. Compare spreads and commission structures to ensure you get the most competitive pricing for your trading strategy.
• Trading Instruments - Look for brokers that provide access to a wide range of instruments to diversify your trading portfolio.
• Trading Platforms - The platform is your gateway to the markets. Most traders look for robust, user-friendly platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5). Some brokers also offer powerful proprietary platforms with advanced features.

With these factors in mind, let’s look at some of the top MAS-regulated forex brokers in Singapore.

Plus500

Plus500 is a globally recognised broker that is regulated by the Monetary Authority of Singapore (MAS). The broker holds a capital markets services license from the MAS in Singapore under the name Plus500SG Pte Ltd, with the license number CMS100648. On top of that, this broker operates under the regulation of the FCA in the UK, the CySEC in Cyprus, the ASIC in Australia, and the FSCA in South Africa.

Positively, this broker gives its clients access to a variety of market products, allowing them to diversify their investments. The lineup of products on this trading site includes CFDs on forex, indices, commodities, shares, options, ETFs, and cryptocurrencies. These are accessible through the user-friendly Plus500 trading platform, available on desktop, web, and mobile devices.

The company has over 30 million registered users and is publicly listed on the London Stock Exchange under the ticker symbol PLUS, where it is also a constituent of the FTSE 250 Index. Regarding spreads, this broker applies a floating spread depending on the asset and market conditions. As an example, the EURUSD pair has a spread of 0.9 pips at the time of writing this. Plus500 does not charge commission fees.

80% of retail investor accounts lose money when trading CFDs with this provider.
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Forex.com

Forex.com is another top broker under the regulation of the MAS in Singapore. Specifically, Forex.com is regulated by the MAS through its parent company, StoneX, with the company registration number 201130598R. On top of that, it operates under the regulation of the CFTC and NFA in the US, the CySEC in Cyprus, the FCA in the UK, the CIRO in Canada, among others.

Forex.com gives traders access to a wide selection of financial instruments, with more than 5,500 assets available. In Singapore, traders can access CFDs on forex, stocks, indices, commodities, cryptocurrencies, and precious metals. To facilitate trading, the broker supports multiple platforms such as MetaTrader 4, MetaTrader 5, TradingView, and its proprietary Forex.com Trader platform.

When it comes to pricing, Forex.com is within market standards. The Standard Account offers spreads starting from 0.8 pips, while the MetaTrader Account begins at 1.0 pips. These two accounts do not charge a commission. For those seeking lower spreads, the Raw Account provides spreads from 0.0 pips, but charges a commission of $5 per $100,000 traded.

75% of retail investor accounts lose money when trading CFDs with this provider.
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IG

IG is a globally recognised broker with a strong presence in Singapore, regulated by the MAS under the entity IG Asia Pte Ltd. The broker holds a Capital Markets Services License from the MAS with the registration number 200510021K. Beyond Singapore, IG is also under the regulation of the FCA, the ASIC, the CySEC, the BaFin in Germany, and the CFTC and NFA in the US.

IG provides access to a broad range of markets, with over 17,000 tradable instruments. These include CFDs on shares, forex, indices, commodities, and ETFs. These market products are accessible on different platforms, which include MetaTrader 4, L2 Dealer, and ProRealTime. This allows traders to pick and choose the platform that best suits their needs.

On another note, the spreads in IG are manageable, and most traders would be able to afford them. The spreads on IG can fall as low as 0.6 pips for some major currency pairs with no commission. These are some of the lowest spreads in the market today.

70-74% of retail investor accounts lose money when trading CFDs with this provider.
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eToro

eToro is one of the most popular online brokerage firms globally and is also regulated by the Monetary Authority of Singapore (MAS). It operates in Singapore under eToro Singapore Pte. Ltd., which holds a Capital Markets Services (CMS) license with the license number CMS101824. In addition to its MAS license, eToro is regulated in several other top-tier jurisdictions, including the FCA, the ASIC, the CySEC, and the ADGM’s FSRA, among others.

Trading on eToro is facilitated through its user-friendly, proprietary platform eToro. The broker offers a vast array of instruments, including CFDs on forex, commodities, indices, stocks and ETFs. Additionally, the broker supports the trading of real stocks and ETFs. The trading costs are competitively low, with major currency pairs having spreads that start from 1.0 pips.

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
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CMC Markets

CMC Markets is also regulated by the Monetary Authority of Singapore (MAS), providing traders in the region with another solid option for trading. The broker operates under CMC Markets Singapore Pte Ltd, holding the registration number UEN 200605050E. In addition to MAS, CMC Markets is also regulated by the FCA and the ASIC.

CMC Markets is well-known for its extensive product offering. Traders in Singapore can access over 12,000 financial instruments, including CFDs on forex, indices, cryptocurrencies, commodities, individual stocks, stock baskets, and government bonds. The broker provides trading through its proprietary Next Generation platform, MetaTrader 4, and TradingView.

In terms of costs, CMC Markets stands out for its highly competitive pricing. Spreads start as low as 0.5 pips on major currency pairs, making it a top choice for cost-conscious traders.

Swissquote

Swissquote is a well-established and highly regarded broker that holds a Capital Markets Services (CMS) license from the MAS in Singapore. It operates in this jurisdiction under Swissquote Pte Ltd with the registration number 201906194G. Further, this broker is supervised by the FINMA in Switzerland, the FCA, the CySEC, and the DFSA in Dubai, among others.

Swissquote offers a comprehensive range of trading products, including CFDs on forex, stocks, cryptocurrencies, bonds, indices, ETFs, commodities, and more. To trade these market products, this broker avails MT4, MT5, and CFXD as the trading platforms from which to choose.

Further, Swissquote features some fairly competitive spreads starting from as low as 1.7 pips on the standard account. The Premium account has a spread as low as 1.4 pips, while the Prime account has spreads from 1.1 pips. These three accounts do not charge any commissions to traders. Uniquely, Swissquote also offers custom spreads on the professional account.

Interactive Brokers

Interactive Brokers (IBKR) is a top-tier brokerage firm with a significant global footprint. It is regulated by the Monetary Authority of Singapore (MAS), with the license number CMS100917. It is also regulated by other authorities worldwide, including the SEC and CFTC in the US, the FCA, the ASIC, and the CIRO in Canada.

Interactive Brokers is renowned for its unparalleled access to global markets. It provides direct access to over 160 markets, supporting extensive portfolio diversification. These global markets include forex currency pairs, stocks, options, futures, bonds, funds, and crypto. Interactive Brokers provides powerful trading platforms, including Trader Workstation (TWS) and the IBKR Platform.

Furthermore, this broker has some of the lowest trading fees in the market. Spreads for major currency pairs are as low as 0.1 pip, but they come with a commission fee that varies based on our selected pricing plan.

Saxo Bank

Saxo Bank is another prominent broker regulated by the Monetary Authority of Singapore (MAS). It operates under Saxo Capital Markets Pte Ltd with the registration number 200601141M. In addition to MAS, Saxo Bank is licensed and supervised by the FCA, the FINMA, and the ASIC.

Notably, Saxo Bank has one of the deepest collections of market products, making it a comprehensive platform for diversified portfolios. Traders in Singapore can access over 71,000 instruments from various global markets. These include CFDs on ETFs, forex, stocks, indices, bonds, commodities, and index options, along with real stocks and ETFs. The trading platforms available include SaxoTraderGO, SaxoTraderPro, and TradingView.

In terms of costs, Saxo Bank offers competitive pricing for its various trading accounts. The accounts include classic, platinum, and VIP accounts. The spreads on this broker site start from as low as 0.6 pips for major currency pairs on the Classic account, 0.5 pips on the Platinum account, and 0.4 pips on the VIP account.

Conclusion

Singapore's forex trading landscape is defined by the strong regulatory framework enforced by the Monetary Authority of Singapore (MAS). This regulatory framework is critical, as it provides traders with the assurance of a fair trading environment. The brokers discussed here all operate under this stringent oversight, offering traders a blend of safety, advanced technology, and access to a diverse range of global market products.

Nonetheless, each broker presents a unique value proposition that sets it apart from the rest. Ultimately, the best choice depends on your individual trading strategy, experience level, and financial goals. Aspiring traders should conduct thorough due diligence and verify licenses via the official MAS Financial Institutions Directory. Additionally, consider starting with a demo account to test out your broker of choice and build confidence.