Kane PepiLooking for the best trading platform in Singapore for low fees, tight spreads, and supported asset classes?
In this guide, we compare the best trading platforms in Singapore for a range of markets, from forex and stocks to cryptocurrencies and options.
Read on to select a Singaporean trading platform in 2023.
Best Singapore Trading Platforms Reviewed
We have scoured the online investing marketplace for the best trading platforms in Singapore.
Below, the top Singapore online trading platforms for 2023 are ranked:
- Evest – Overall Best Trading Platform in Singapore 2023
- OKX – Crypto Trading Platform With Super-Low Fees
- Skilling – Go Long or Short on Stock CFDs at 0% Commission
- eToro – Invest in Over 2,500 Global Stocks and ETFs on a Zero-Commission Basis
- Libertex – Trade Forex With Multipliers of up to 999x
- AvaTrade – Low-Cost CFD Broker Supporting MT4/5
- Moomoo – Invest in Traditional Securities With No Account Minimums
- Tiger – MAS-Regulated Trading Platform With Multiple Asset Classes
Investing comes with risks. Only invest money you can afford to lose.
Best Singapore Trading Platforms Reviewed
No two trading platforms in Singapore are the same, with providers offering varying levels of service in terms of licensing, fees, available markets, customer support, and more.
Therefore, in the following sections, we offer comprehensive reviews of the best trading platforms in Singapore for 2023.
1. Evest – Overall Best Trading Platform in Singapore 2023
Evest offers the overall best trading platform in Singapore, with the provider supporting hundreds of financial instruments across the most popular asset classes. This includes a wide range of international stocks from leading marketplaces such as the US and Germany.
Evest also supports one of the best platforms for forex trading – which covers a broad selection of majors, minors, and exotics. Traders in Singapore will also be able to speculate on the future value of indices, cryptocurrencies, and commodities like oil and gold. Evest offers two options when it comes to trading online.
Some traders will elect to buy and sell assets via MetaTrader 5, which is a popular third-party trading platform that supports a huge range of advanced tools and features. Through Evest, it is possible to trade via the MetaTrader 5 desktop software, mobile app, or web-trading interface.
Evest also offers its own proprietary trading platform, which can be accessed via standard web browsers alongside a mobile app. This option offers many analysis tools and charting features, but is more suitable for beginners. Either way, we like that Evest offers some of the lowest trading fees in this space.
For instance, all supported financial instruments can be traded on a spread-only basis. EUR/USD, for example, can be traded from just 0.9 pips. Do note that spreads will vary depending on the selected account type. Traders from Singapore will get the best rates on the diamond account, which requires a $50,000 first-time deposit.
The silver account is more affordable and requires just $250 to get started. Another option to consider is the free demo account, which enables traders to test Evest out without needing to deposit any funds. Those wishing to start trading at Evest today with real money can make a deposit via a debit/credit card, bank wire, and e-wallet.
| Supported Markets | Stocks, forex, commodities, indices, crypto – all through CFDs. |
| Pricing System | Spread-only on buy and sell orders. |
| Minimum Deposit | $250 |
| Top 3 Features | Ultra-low pricing, wide range of markets, leverage offered on all supported CFD instruments |
What We Like
Investing comes with risks. Only invest money you can afford to lose.
2. OKX – Crypto Trading Platform With Super-Low Fees
OKX is one of the leading crypto trading platforms globally. Not only in terms of fees and supported markets, but core trading features and tools. We should, however, note that traders in Singapore only have access to the OKX DEX (decentralized exchange), rather than its main centralized platform.
This isn’t necessarily a drawback, as the OKX DEX offers everything a trader needs to speculate on the future value of cryptocurrencies. Plus, there is no requirement to open an account and subsequently provide personal information, contact details, or KYC documents when opting for the OKX DEX.
Instead, traders simply need to connect their crypto wallet. The OKX DEX supports more than 40 blockchain networks, which covers everything from Bitcoin and Ethereum to Solana and BNB. Another innovative feature of the OKX DEX is that it is compatible with over 100 decentralized exchanges via a bridge aggregator.
In simple terms, this means that OKX enables traders to secure the very best price possible on their preferred trading pair. When it comes to specific fees, this will vary depending on the pair and current market conditions. But nonetheless, when setting up a trade, the OKX DEX will sort the list of supported platforms from the lowest to the highest rate.
Another popular feature offered by the OKX DEX is the ability to earn passive income. This is a great alternative to simply leaving idle crypto funds in a wallet. Staking, for example, offers APYs of up to 40% as of writing. Even higher APYs are possible when engaging in crypto yield farming.
| Supported Markets | Cryptocurrencies from over 40 blockchain networks |
| Pricing System | DEX aggregator system secures the best price possible from 100+ exchanges |
| Minimum Deposit | N/A |
| Top 3 Features | Access 100+ crypto exchanges via one platform, secure the lowest price possible, earning tools with competitive APYs |
What We Like
Investing comes with risks. Only invest money you can afford to lose.
3. Skilling – Go Long or Short on Stock CFDs at 0% Commission
Next up on this list of the best trading platforms in Singapore is Skilling. This trading platform specializes in CFDs across a wide selection of financial markets. This covers everything from forex and commodities to stocks, indices, and cryptocurrencies. All supported markets at Skilling can be traded with leverage.
Major forex pairs, for example, can be traded with a margin requirement of just 3.33%. Minor and exotic forex pairs, gold, and major indices can be traded with a margin requirement of just 5%. Elected professional clients have access to much higher levels of leverage, with major forex pairs requiring a margin of just 0.5%.
Skilling is also one of the Singapore stock trading platforms for low fees. There are no trading commissions charged, so traders will only need to cover the spread. When trading forex and other asset classes, commissions start from just $35 for every $1 million traded. Spreads on major forex pairs start from just 0.2 pips which again, is very competitive.
Skilling supports a range of trading platforms including its own proprietary suite, which can be accessed through any web browser. MT4, cTrader, and TradingView are also supported. Skilling also offers one of the best trading apps in Singapore. The Skilling app is free to download and is compatible with both iOS and Android smartphones.
| Supported Markets | Stocks, forex, commodities, indices, crypto – all through CFDs. |
| Pricing System | 0% commission on stock CFDs. Commissions start from $35 for every $1 million traded on other asset classes. |
| Minimum Deposit | €100 |
| Top 3 Features | 0% commission stock trading, leverage of up to 1:30, supports TradingView and MT4 |
What We Like
Investing comes with risks. Only invest money you can afford to lose.
4. eToro – Invest in Over 2,500 Global Stocks and ETFs on a Zero-Commission Basis
eToro is a regulated online trading platform with licenses from a range of tier-one bodies, including the FCA, CySEC, SEC, and ASIC. This popular trading platform requires a minimum deposit of just $50 to get started and payments can be made via a bank wire, debit/credit card, and several e-wallets.
eToro is perhaps the best Singaporean trading platform for investing in real stocks and ETFs. Thousands of stocks and ETFs are supported on a 0% commission basis and the minimum investment is just $10 per trade. eToro supports exchanges in the US, Germany, France, the UK, Hong Kong, and many other global marketplaces.
eToro also offers a trading platform for forex, with nearly 50 currency pairs available across the majors, minors, and exotics. Forex, alongside commodities and indices, can be traded on a spread-only basis. For example, EUR/USD can be traded from just 1 pip. eToro also enables users to invest in cryptocurrencies from just $10.
The commission charged when buying and selling cryptocurrencies is 1%. More than 70 cryptocurrencies are supported, with the most popular markets including Bitcoin, Ethereum, BNB, XRP, Cardano, and Litecoin. eToro also offers copy trading tools. This enables users to copy the buy and sell orders of an experienced trader.
| Supported Markets | Real stocks, ETFs, and crypto. Also trade stocks, forex, commodities, indices, and crypto through CFDs. |
| Pricing System | 0% commission on real stocks and ETFs. 1% commission on real crypto investments. Spread-only on CFD assets. |
| Minimum Deposit | $50 |
| Top 3 Features | Invest in global stocks and ETFs without paying any commission, copy trading tools, heavily regulated |
What We Like
Investing comes with risks. Only invest money you can afford to lose.
5. Libertex – Trade Forex With Multipliers of up to 999x
One of the best forex trading platforms in Singapore that we came across is Libertex. Not only in terms of fees, but high levels of leverage. For example, Libertex notes that major currency pairs like EUR/USD and GBP/USD can be traded with multipliers of up to 999x.
This means that for every $999 traded, a margin requirement of just $1 is needed. In addition to forex, Libertex also supports stocks, ETFs, commodities, and indices. We should, however, note that all supported financial instruments are traded via CFDs. Nevertheless, all CFDs at Libertex can be traded on a commission-free basis.
We found that spreads are very competitive too, with USD/CAD and EUR/USD trading with an average of 0.3 pips and 0.4 pips respectively. Libertex offers three options when it comes to selecting a suitable trading platform. On top of its own native web trader, it is also possible to trade via MT4 and MT5.
Those looking to trade on the move can also download the Libertex app for iOS and Android. Libertex also offers a free demo account that is preloaded with $50,000 in paper funds. This enables users to test the trading platform out before committing.
| Supported Markets | Stocks, forex, commodities, indices, crypto – all through CFDs. |
| Pricing System | Spread-only |
| Minimum Deposit | Not stated, but the minimum trade size is $10. |
| Top 3 Features | High trading multipliers, user-friendly interface, tight spreads |
What We Like
Investing comes with risks. Only invest money you can afford to lose.
6. AvaTrade – Low-Cost CFD Broker Supporting MT4/5
AvaTrade is an established trading platform that has been active in this industry for 16 years. The platform is heavily regulated, with licenses from nine separate bodies. AvaTrade is a CFD-only broker, which means no direct ownership of assets that are traded.
This does, however, mean that instruments can be traded without paying any commission, and both buy and sell orders are supported when entering a position. AvaTrade offers access to plenty of popular asset classes, including global stocks, ETFs, bonds, precious metals, energies, and indices.
In addition to spot currencies, AvaTrade is also one of the best options trading platforms in Singapore. Forex options can be traded on a wide selection of pairs and spreads on EUR/USD start from just 0.9 pips. AvaOptions is the specialist platform for options trading and is compatible with both desktop and mobile devices.
AvaTrade offers leverage within conventional retail client limits, with major forex pairs requiring a margin of just 3.33%. Finally, AvaTrade requires a minimum first-time deposit of $100.
| Supported Markets | Stocks, forex, commodities, indices, crypto, bonds, and FX options – all through CFDs. |
| Pricing System | Spread-only |
| Minimum Deposit | $100 |
| Top 3 Features | Top options trading platform, 0% commission on all markets, great educational materials |
What We Like
Investing comes with risks. Only invest money you can afford to lose.
7. Moomoo – Invest in Traditional Securities With No Account Minimums
Moomoo is an online investment platform that is popular with beginners and those on a budget. There is no minimum account balance required when joining and fees are very competitive across the board. For example, when buying US-listed stocks, there is no commission to pay.
There is, however a $0.99 platform fee for each order placed. On the flip side, registered users have access to real-time NASDAQ quotes.
When trading stocks listed in Singapore, there is a 0.03% commission. This is also the case with ETFs and REITs. Moomoo is also a popular trading platform for buying and selling options, with fees of just $0.65 for each contract traded. Moomoo also offers a free demo account that comes preloaded with $1 million in virtual money.
| Supported Markets | Real stocks, ETFs, REITs, options, futures, and funds. |
| Pricing System | 0% commission on US stocks, plus a $0.99 platform fee. 0.03% commission on Singapore stocks. $0.65 per options contract traded. |
| Minimum Deposit | No minimum |
| Top 3 Features | Invest in domestic stocks at 0.03% commission. Low-cost options trading, great for beginners |
What We Like
Investing comes with risks. Only invest money you can afford to lose.
8. Tiger – MAS-Regulated Trading Platform With Multiple Asset Classes
The final option to consider on this list of the best trading platforms in Singapore is Tiger. This platform is a locally-based brokerage that is regulated by the MAS. Tiger supports multiple asset classes from both the domestic and international markets, most of which can be traded with competitive fees.
For example, Singapore-listed stocks can be traded at a commission of 0.03%, and those based in the US attract a fee of $0.005 for every share that is bought and sold.
The aforementioned commissions are also the same when trading ETFs and REITs. When trading options in the US, this will cost $0.65 per contract. Hong Kong-based options cost 0.2% of the trade value. There is no minimum requirement when opening an account with Tiger.
| Supported Markets | Real stocks, ETFs, REITs, options, warrants, and futures |
| Pricing System | 0% commission on US stocks, plus a $0.99 platform fee. 0.03% commission on Singapore stocks. $0.65 per options contract traded. |
| Minimum Deposit | No minimum |
| Top 3 Features | Regulated by the MAS, no minimum deposit, supports domestic and global markets |
What We Like
Investing comes with risks. Only invest money you can afford to lose.
How we Select the Best Singapore Trading Platforms
When compiling our list of the best trading platforms in Singapore - here are the main metrics and features that we prioritized
Licensing and Security
All of the Singapore trading platforms reviewed on this page are licensed by at least one reputable regulatory authority.
Some are regulated by multiple bodies. Either way, safety and security are always the main focus when ranking trading platform providers.
Range of Assets
Many Singapore online trading platform providers support multiple asset classes.
Evest, for instance, supports everything from stocks and forex to commodities and cryptocurrencies.
Fees
We only consider trading platforms that offer competitive fees. Many of the platforms discussed today - such as Evest and Skilling, offer 0% commission trading on all supported markets.
Spreads should also be considered, which is the gap between the buy and sell price of the asset being traded.
Tools and Analysis
The best trading platforms in Singapore will offer access to analysis tools.
This should include technical indicators for chart analysis, as well as market insights and news updates for fundamental research.
Minimum Deposit
Some trading platforms have a minimum deposit requirement in place and this can vary depending on the chosen account type.
At Evest, the standard account has a minimum first-time deposit of $250. Subsequent deposits can be made into the account with a lower minimum of just $50.
Demo Account
We also prefer trading platforms that offer a demo account. This enables users to practice trade on the respective platform in a risk-free environment.
After using the demo account for a sufficient amount of time, traders can then decide whether the platform is right for their needs.
Mobile App
The best trading platforms in Singapore offer a native mobile app.
The likes of Evest, OKX, Skilling, and many other providers in this space offer a free app for iOS and Android.
We also give preference to trading apps that are convenient to use.
Payment Methods
Traders will need to deposit funds into an account to buy and sell assets with real money.
Most of the platforms reviewed today support instant payments via debit/credit cards and even e-wallets. Although bank wires are also an option, this can take 1-5 working days to process.
Customer Service
Finally, we also prefer trading platforms in Singapore that offer localized customer service. The easiest way to reach assistance is via a live chat feature.
Types of Trading Platforms
Looking for the best trading platform in Singapore for a specific asset class or market?
Here’s an overview of what options are available to online traders in Singapore:
Stocks and ETFs
The best stock trading platforms in Singapore offer access to multiple exchanges and markets at competitive fees. Both Evest and Skilling stand out in this regard, considering that all supported stocks and ETFs can be traded without commission.
Libertex is also considered a top stock trading platform for beginners.
Crypto
Singaporeans have access to many cryptocurrency trading platforms. Evest is the best option for traders that wish to buy and sell crypto CFDs with leverage.
Those that wish to invest in cryptocurrencies in the traditional sense may consider OKX.
Forex
Forex can be traded at any of the trading platforms reviewed on this page.
In terms of standout providers, both Evest and Skilling offer dozens of forex pairs at super-low trading fees. Both providers also support leverage.
Options
The best platform for forex options is AvaTrade. Through the AvaOptions platform, traders can speculate on currencies with leverage. No commissions are charged by AvaTrade. Another popular options trading platform in Singapore is Moomoo.
Commodities
Many of the trading platforms discussed today - including Evest, Skilling, and eToro, support both hard and soft commodities. This includes everything from oil and natural gas to gold and silver.
Are Trading Platforms Legal in Singapore?
Yes, trading platforms in Singapore are legal. Some platforms are authorized and regulated by the MAS, albeit, this isn’t a jurisdictional requirement.
On the contrary, some of the best trading platforms used by Singaporeans are actually based overseas.
In turn, other regulatory bodies will likely oversee the platform, such as the FCA, ASIC, or CySEC.
Just make sure that irrespective of where the platform is based, it is licensed by a tier-one body - such as those mentioned above.
Conclusion
In summary, the best trading platforms in Singapore have been reviewed and ranked, with Evest coming out as the number one option across multiple asset classes.
Whether it’s forex, stocks, commodities, indices, or cryptocurrencies - all markets at Evest can be traded at 0% commission.
It takes less than 10 minutes to open a verified account and the minimum first-time deposit is just $10.
Investing comes with risks. Only invest money you can afford to lose.
FAQs
Which platform is best for trading in Singapore?
What trading platforms are legal in Singapore?
Which is the best app for trading in Singapore?
Which forex trading platform is best in Singapore?
Which brokerage app is best for beginners in Singapore?
Is Moomoo or Tiger better?
This article was written for Business 2 Community by Kane Pepi.
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