SGD Forex Account
By Stéphane on 27/09/2023
Compare regulated brokers that accept the Singapore dollar (SGD) as a base currency for your Forex or share trading account.
Brokers we recommend
Trade over 1,000 instruments on flexible leverage up to 1:500 on the MT4/5 and cTrader platforms. FP Markets is a true ECN broker and accepts all trading styles without restrictions.
Pepperstone is an award-winning broker regulated in 7 jurisdictions. Trade over 1,200 instruments on MetaTrader 4, 5, TradingView or cTrader. Pepperstone allows all trading styles.
Exness.com is an offshore broker trusted by over 500,000 active clients. Trade Forex, crypto, commodities, stocks and indices on MetaTrader 4 or 5 with unlimited leverage (conditions apply).
Comparison table
Here's how and why rated these brokers, or learn more about our impartial 18-point methodology.
| Overall | Markets | Trading environment | Deposits and withdrawals | Investor protection | Customer service | |
|---|---|---|---|---|---|---|
| FP Markets | 4.8 | 5.0 | 4.8 | 5.0 | 4.0 | 5.0 |
| Pepperstone | 4.7 | 5.0 | 4.8 | 4.4 | 4.8 | 4.7 |
| Exness | 4.3 | 3.8 | 4.0 | 5.0 | 3.8 | 4.7 |
| Forex (CFD) | Cryptos (CFD)* | Stocks (CFD) | Indices (CFD) | ETFs (CFD) | Metals (CFD) | Energy (CFD) | Commodities (CFD) | Bonds (CFD) | |
|---|---|---|---|---|---|---|---|---|---|
| FP Markets | 72 | 12 | 1000 | 16 | 46 | 17 | 4 | 5 | 2 |
| Pepperstone | 96 | 20 | 957 | 23 | 112 | 12 | 4 | 16 | |
| Exness | 96 | 11 | 98 | 10 | 4 | 3 |
| MT4 | MT5 | cTrader | Copy trading | TradingView | |
|---|---|---|---|---|---|
| FP Markets | |||||
| Pepperstone | |||||
| Exness |
| Bank transfer | Binance Pay | Debit card | Credit card | BTC (Bitcoin) | USDT (Tether) | NETELLER * | Skrill * | Broker to broker transfer | |
|---|---|---|---|---|---|---|---|---|---|
| FP Markets | |||||||||
| Pepperstone | |||||||||
| Exness |
| Australia | Bahamas | Cyprus (EU) | Seychelles | South Africa | St. Vincent & the Grenadines | UAE | UK | |
|---|---|---|---|---|---|---|---|---|
| FP Markets | ||||||||
| Pepperstone | ||||||||
| Exness |
* Availability is subject to local laws and regulations.
Note: for brevity, this table only shows the most popular payment methods and regulators. Open a free account with any of these brokers to view funding options available in your country.
Trade over 1,000 instruments on flexible leverage up to 1:500 on the MT4/5 and cTrader platforms. FP Markets is a true ECN broker and accepts all trading styles without restrictions.
- Likes
- Flexible leverage up to 1:500.
- Trade over 1,000 financial instruments.
- Trade on MT4/5 or cTrader without restrictions.
- Copy trading service is available.
- Customer support is available 24/7.
- Dislikes
- No TradingView integration is available for now.
- No investor compensation fund in the event of bankruptcy.
We've traded through this broker's MT5 Raw account and can vouch for its low spreads and reliable trading environment. Its Raw account is designed for day traders and scalpers, and its Standard account will suit all others.
We also like the breadth of instruments available through its platform. You'll find over 70 currency pairs, as well as gold and silver priced in US dollars, euros and Aussie dollars. You can also go long or short on stocks and government bonds through over 40 ETFs.
Its free educational content also sets it apart from the competition. Fund your account to get access to trading signals from Trading Signal and Autochartist. You'll also get access to free trading courses for beginners and experienced traders, weekly webinars and e-books.
Pepperstone is an award-winning broker regulated in 7 jurisdictions. Trade over 1,200 instruments on MetaTrader 4, 5, TradingView or cTrader. Pepperstone allows all trading styles.
- Likes
- Trade over 1,200 instruments across many asset classes.
- Trade on MT4/5, cTrader or even TradingView.
- All trading styles and EAs are allowed.
- Wide range of currencies for your trading account.
- Excellent customer service.
- Dislikes
- You cannot choose which Pepperstone entity to open an account with. For example, you will need to open an account with Pepperstone's FCA-regulated entity if you live in the UK.
We particularly enjoy Pepperstone's integration with TradingView, which makes it possible to open and close positions directly from the charts. This in addition to its support for the popular MetaTrader 4, 5 and cTrader platforms.
Fees are a big factor for any trader. And Pepperstone's competitive spreads and commissions are a significant plus point for us. Its Standard account with low and variable spreads will appeal to all traders. And its Raw account is designed for Forex day traders and scalpers.
Deposits and withdrawals are easy and hassle-free, which is exactly what we look for in a broker. Whenever we've reached out to customer service, we've found their agents to be responsive and attentive.
Exness.com is an offshore broker trusted by over 500,000 active clients. Trade Forex, crypto, commodities, stocks and indices on MetaTrader 4 or 5 with unlimited leverage (conditions apply).
- Likes
- Low and stable spreads.
- No swap charges across most FX pairs.
- Unlimited leverage on MetaTrader 4 and 5 (conditions apply).
- Withdrawals processed instantly in a wide range of currencies.
- Negative balance protection is available.
- Dislikes
- No access to a compensation fund in the event of bankruptcy.
- No CFDs on agricultural commodities, ETFs or government bonds.
Once you start trading with Exness, you soon understand why this broker is trusted by over 500,000 active clients. We traded through its MT5 Standard account with spreads from just 0.3 pips. Most instruments have no swap charges at all, which makes it easy to estimate how profitable each trade could be.
You'll find a wide range of instruments through its platform. These include over 100 currency pairs, crypto, U.S. stocks, global indices and commodities. The gold and silver crosses against the euro, the British Pound and the Aussie dollar will appeal to gold bugs.
Its web trading platform, built around TradingView charts, is sleek. If you're into technical analysis, you'll be able to customise charts with over 100 indicators and save them for later. Visit Exness to create an account and see for yourself what this broker has to offer.
Brokers that accept SGD
FP Markets
FP Markets (FPMarkets.com) allows traders to open an account with the Singapore dollar (SGD) as their account's base currency. Fund your account through an international bank transfer, Visa, MasterCard or even crypto-currency. FP Markets will credit your MT4 or MT5 account instantly, with no fees applied. Funds deposited into its IRESS trading account are typically processed within one business day and are subject to fees.
About the Singapore Dollar
The Singapore Dollar, abbreviated as SGD or S$, is the official currency of the Republic of Singapore. Banknotes and coins are issued by the Monetary Authority of Singapore (MAS).
Unlike most central banks, that use interest rates to drive monetary policy, MAS focusses only on the exchange rate(1). This is because Singapore is a small and open economy with a focus on international trade. In the past, the MAS has allowed the Singapore dollar to appreciate in order to reduce inflationary pressures at home, by simultaneously lowering the cost of imports, and reducing overseas demand for Singaporean exports.
Since 1985, the currency has been allowed to float, within a band, around central parity against a basket of currencies(2). This currency basket consists of Singapore's largest trading partners. However, the MAS has revealed neither their names, nor the width of the policy band, in order to maintain maximum flexibility in its implementation of monetary policy.
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About the author
I'm Stéphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.
- 1. Monetary Authority of Singapore. What is MAS' Monetary Policy Framework and its Rationale?. https://www.mas.gov.sg/monetary-policy/Singapores-Monetary-Policy-Framework/faqs/section-2
- 2. Bank for International Settlements. An exchange-rate-centred monetary policy system: Singapore’s experience. https://www.bis.org/publ/bppdf/bispap73w.pdf