SGD Forex Account

4.8 / 5

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Trade over 1,000 instruments on flexible leverage up to 1:500 on the MT4/5 and cTrader platforms. FPMarkets.com 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, cTrader or TradingView without restrictions.
• Copy trading service is available.
• Customer support is available 24/7.

• Dislikes
• No investor compensation fund in the event of bankruptcy.

Our take on FP Markets

Enjoy low spreads and reliable trading conditions at all times with this award-winning broker. Open a Standard account to trade without commission, or a Raw account if you prefer to trade on raw spreads.

Access over 1,000 markets through MT4, MT5, cTrader and more recently TradingView. You'll find over 70 currency pairs, as well as gold and silver priced in US dollars, euros, Aussie dollars and other currencies. 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. Get access to trading signals from Trading Signal and Autochartist as soon as you fund your account. You'll also get access to free trading courses for beginners and experienced traders, weekly webinars and e-books.

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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 Stefan, 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.