Best Trading Platforms in Singapore for Beginners 2022

Alan Lewis

Pro Investor

Updated: 20 December 2022

If you’re based in Singapore and want to trade online, you’ll need to find a top-rated platform.

Your chosen trading platform needs to offer your supported market – whether that’s stocks, commodities, forex, or even crypto. It also needs to offer competitive commissions and spreads, and hold at least one regulatory license.

In this guide, we review the best trading platforms Singapore for 2023.

Best Trading Platforms in Singpore 2023

If you’re in the hunt for the best trading platforms Singapore but don’t have time to read our guide, check out the list of top-rated providers below. You can scroll down to read a full review of each broker.

1. FXVC – Overall Best Stock Broker in Singapore
2. Plus500 – Plus500 – Best Trading Platform Singapore for Asset Diversity
3. Libertex – Best Broker in Singapore for ZERO Spreads
4. Skilling – Best Trading Platform  Singapore for Leverage
5. Bursa Anywhere – Best Broker for Buying Singaporean Shares

Best Trading Platforms Singapore Reviewed

In searching for the best trading platforms Singapore, you need to focus on a number of key metrics. This should centre on tradable assets, fees, spreads, and commissions, payment methods, and of course – regulation.

To save you from hours of research, below we review the best trading platforms Singapore.

1. FXVC – Overall Best Stock Broker in Singapore

Whether you’re searching for a stock broker with low fees, a wide range of shares, or some great trading tools, FXVC is a great option. There are a variety of stock CFDs from different exchanges, so you can trade the price of large companies such as Apple and Amazon.

FXVC’s competitive spreads make this very cost-effective as well. The execution speeds offered by this broker are some of the fastest in the industry with extremely low latency.

A well-designed and user-friendly mobile app is also available on the FXVC website. These two platforms offer a wide variety of technical and fundamental analysis tools that can be used to execute trading strategies. Furthermore, the website features a wide variety of research and analysis resources, such as market reviews, analysis, and ebooks.

You can pick the account type that best suits your needs from FXVC’s five account types.

Your capital is at risk.

3. Plus500 – Best Trading Platform Singapore for Asset Diversity

If your main priority in finding the best trading platform Singapore is access to lots of different markets, Plus500 should be considered. This popular online CFD trading site gives you access to thousands of financial instruments from virtually every market possible.

For example, you can trade thousands of stock CFDs from markets in the US, Canada, Australia, South Africa, the UK, Europe, and more. You can also trade ETFs and indices, as well as commodities like gold, silver, oil, natural gas, and wheat.

If you're also keen on forex, Plus500 is one of the best brokers Singapore for currencies. Once again, this covers a wide variety if markets, including dozens of majors, minors, and exotics. If you're also looking to gain exposure to the digital currency scene, Plus500 offers CFD instruments on a good selection of crypto-assets.

These are also traded against the US dollar and includes the likes of Bitcoin, Ethereum, and Bitcoin Cash. Regardless of which market you decide to access on Plus500, you won't pay any trading commissions and spreads are typically very competitive. There are no ongoing fees and you won't be charged anything to deposit or withdraw funds.

This low-cost CFD Singapore trading platform also offers leverage of up to 1:300. This is offered on major currency pairs, so you'll get less on other CFD markets. Nevertheless, Plus500 requires a minimum deposit of just $100 to get started. Supported payment methods at this MAS-regulated broker include debit cards, Paypal, and bank transfers.

76.4% of retail CFD accounts lose money.

4. Libertex – Best Broker in Singapore for ZERO Spreads

Libertex is an online trading platform that is particularly popular with day traders in Singapore. The reason for this is that Libertex offers extremely low trading fees. Crucially, Libertex does not charge any spreads - so you'll always get the best buy or sell price possible.

This is complemented by a very low commission structure that in most cases - will see you pay less than 0.1% per slide. In terms of what you can trade, Libertex offers a good selection of asset classes - all of which are reprinted by CFDs.

This includes forex, buying stocks, commodities, digital currencies and more. By trading CFDs at this platform. this means that you can get leverage on all supported markets. This goes as high as 1:600 when using the Libertex forex trading platform, albeit, you'll need to be a professional client to get this much.

Libertex is also one of the best trading platforms in Singapore for day traders as it supports MT4. This means that on top of benefiting from zero spreads and low commissions, you'll have access to an abundance of social trading tools, technical indicators, and signals.

When it comes to reputation, this top-rated broker has almost 3 million clients from over 120 countries - many of which are based in Singapore. It has been offering trading services for 23 years and is regulated by several financial bodies. Finally, the minimum deposit on Libertex is just $100 and you can use a debit/credit card, bank wire, or e-wallet.

83% of retail investors lose money trading CFDs at this site.

5. Skilling – Best Trading Platform Singapore for Leverage

If you're looking for the best trading platform Singapore for leverage, Skilling is going to be the best option on the table. This top-rated provider offers leverage of up to 1:500 to retail clients - which is one of the highest we have seen.

Leverage limits of this magnitude are typically offered by shady offshore brokers. But, this couldn't be further from the truth in the case of Skilling. After all, this Singaporean trading platform is heavily regulated - with licenses from the FSA and CySEC, as well as authorisation from the FCA.

If you do want to apply the highest limit of 1:500 to your positions, this is available when trading indices and major currency pairs. You can get 1:200 on gold and minor/exotic currency pairs, and less on other asset classes. Leverage on stock CFDs is a lot lower at 1:10, albeit, this still allows you to trade with 10 times the amount you have in your Skilling account.

Not only is Skilling the best trading platform Singapore for leverage, but it's also really competitive in the fee department. For example, you won't be any trading commissions at all, as all fees are subsequently built into the spread. When trading highly liquid markets like forex or stocks, spreads go as low as 0;.1 pips during busy hours, which is very good.

We also like Skilling as it offers numerous trading platforms for you to choose from. This includes MT4 and cTrader - both of which are preferred by experienced trading pros. If you want to trade at Skilling but you don't have much experience, you'll be better of using the web-trading platform. This is ideal for newbies or those who simply want a straightforward trading experience.

When it comes to the account opening process, this shouldn't take you more than a few minutes at Skilling. You only need to meet a minimum deposit of $100 and you can choose from a variety of payment methods. This includes debit/credit cards, e-wallets, and bank transfers.

71.2% of retail investor accounts lose money when trading CFDs with this provider.

6. Bursa Anywhere – Best Broker for Buying Singaporean Shares 

All the best brokers Singapore that we have discussed so far focus exclusively on international exchanges and markets. This makes sense, as the vast majority of traders will look to access liquid assets like gold, US-listed stocks, and forex.

However, if you're based in Singapore and simply looking to buy shares in home-grown companies, then the best option on the table is going to be Bursa Anywhere. This is because the stock broker allows you to buy Singapore-listed shares through a dedicated mobile app - which is compatible with iOS and Android devices.

We should note that the setup process is somewhat cumbersome, as you need to go through a variety of hoops to get your account verified.

Nevertheless, Bursa Anywhere is a low-cost option, as it does not charge any annual platform fees and you won't need to pay anything to register. Plus, the app comes with a number of useful tools - including alerts on corporate reports and market-to-market portfolios.

Your capital is at risk when trading via this app.

How to Choose the Best Trading Platform Singapore for You

Most traders in  Singapore prefer to use regulated brokers located overseas - as this gets you access to the most liquid tradable markets. As such, there are potentially hundreds of platforms to choose from in the online space.

As this can make it challenging to find a provider that meets your needs, below we discuss the many factors that need to be considered in your search for the best online trading platforms Singapore.

Regulation

We briefly mentioned earlier that there are a number of shady offshore trading platforms market their services to Singaporeans. The key driver here is that these providers offer high levels of leverage. However, by using an unregulated trading platform, your money is at risk.

Plus, you can never be truly sure whether you are trading in transparent and fair conditions. This is why the best brokers Singapore that we have discussed on this page are heavily regulated. For example, our top-rated provider - Plus500, is licensed by three tier-one financial bodies.

This includes the FCA (UK) and CySEC (Cyprus). These bodies ensure that you can trade in a safe and secure ecosystem. Crucially, this means that your funds will be held in segregated bank accounts and that all users of the platform must have their identity verified.

Assets

The best trading platforms Singapore give you access to dozens of asset classes. Once again going back to Plus500, the provider covers thousands of CFD markets.

This includes everything from forex and stocks to cryptocurrencies and commodities. If, however, you are looking to trade a specific instrument, you need to ensure that the provider in question supports it.

For example, if shares are your thing, you'll want to stick with a top-rated stock trading platform like Plus500.

Fees

Although your chosen broker might offer your preferred financial markets, you need to ensure that you can trade these instruments in a low-cost environment.

The main fees that you need to consider in your search for the best trading platforms Singapore are as follows:

• Commissions: Some platforms charge a variable commission when you buy and sell an instrument. With that said, the best trading platform Singapore.
• Spreads: Spreads can vary wildly depending on your chosen platform and the asset class in question. If low spreads are important to your trading strategy, you might want to consider Libertex. This is because the platform charges no spreads at all.
• Overnight Financing: When trading CFDs, you need to pay an overnight financing fee for each day you keep the position open.
• Platform Fee: Some trading platforms in Singapore charge a platform fee. This is usually charged as a percentage of the amount you have in your account. None of the best trading platforms Singapore discussed today charge a platform fee of any sort.
• Deposit/Withdrawal Fee: You might need to pay a fee when you deposit funds - especially if using an international broker. This is because the platform might need to convert ringgit to a major currency like USD or GBP.

As you can see, there are many fees that you might come across when finding a platform that meets your needs - so be sure to perform lots of homework before signing up.

Trading Tools & Features

Irrespective of whether you are a seasoned trade or a complete novice - you'll likely want access to a number of tools and features to help you make better trading decisions.

When reviewing the best trading platforms Singapore, the best broker features that we came across included the following:

Educational Materials

If you're planning to trade for the first time, choosing a platform that offers educational and training tools is crucial. This will ensure that you learn the ropes of how to trade effectively - and in a risk-averse manner. The best broker in  Singapore for this purpose is without a doubt Plus500.

For example, the platform offers a fully-fledged mobile app called InvestMate - which is available on both iOS and Android. This is dedicated exclusively to learning materials - which includes financial courses, risk management, and technical analysis. The online version of the platform also offers heaps of trading guides and market insights.

Leverage

You need to tread carefully when applying leverage, as you can lose a lot more than you had hoped for. But, when used in a risk-averse manner, leverage can allow you to trade without needing to have a large amount of capital.

• For example, one of the best online trading platforms Singapore for leverage is Skilling, which offers up to 1:500 on major forex markets and indices.
• Put simply, an account balance of just $200 would therefore allow you to enter a trade worth $100,000.

Don't forget, your leverage limits will not only be determined by your chosen trading platform - but the specific asset classes you are looking to access. forex, indices, and gold come with the highest limits, while crypto and stocks are usually much lower.

Chart Analysis

The vast majority of day traders and swing traders in Singapore make trading decisions based on the technicals. This means that they know how to read, evaluate, and interpret pricing charts on their chosen asset.

In order to do this, you'll want to choose a trading platform that offers a good range of charting tools. This should include the ability to customize the chart area itself - including candlestick timeframes.

You should also have access to technical indicators and chart drawing tools. If using a platform that supports MT4 - such as Libertex and Skilling, this will provide you with all of the chart analysis tools that you will need.

User Experience

If you're going to be trading online, it's important to select a platform that offers a great user experience. This played a major role when ranking the best trading platforms Singapore in this guide.

For example, all of the platforms discussed today offer the following user experience:

• Easy to open an account - often taking just 10 minutes (including KYC)
• Simple and instant deposit process
• Find your chosen asset via a search facility or filter system
• Seamless order placing process
• Fast execution speeds

Ultimately, if your chosen platform doesn't offer a good all-round user experience, there is every chance that you will find it difficult to trade effectively.

Demo Account

Apart from Bursa Anywhere, all of the best trading platforms Singapore discussed on this page offer a demo account facility. There are no requirements to gain access to this facility - other than quickly opening an account.

As such, you can trade financial instruments in live market conditions without risking any money. This is a great way to learn the ropes before you make a deposit and subsequently starting trading with your own capital.

Mobile App

Most traders in Singapore use brokers that also offer a mobile app. This is because you will always have access to your trading account - should you need to place a last-minute order. For example, you might be away from home and want to close a profitable position.

All of the best trading platforms Singapore that we have reviewed today offer a mobile app for both iOS and Android phones. You will get full functionality - meaning that you will get all of the same account features as found on the main desktop website will be available on the app.

Payment Methods

When it comes to payments, the best trading platforms Singapore accept various deposit methods. We find that the easiest way to fund your brokerage account is via a local debit or credit card - backed by either Visa or MasterCard.

A number of providers - such as Capitall.com, Libertex, and Skilling, also support e-wallets.

Customer Service

As noted earlier, most traders in Singapore use online brokers that are located overseas. This is because they are typically regulated by reputable financial services bodies and offer heaps of tradable markets.

With that said, it's important that your chosen platform offers customer support around the clock.

This will ensure that you are not required to contact a member of the support team during the night. We found that the best trading platforms Singapore offer support via Live Chat.

How to Start with the Best Trading Platform Singapore

Looking to get started with the best brokers Singapore right now? If so, follow the walkthrough below to start trading at commission-free platform Plus500 is less than 10 minutes!

Step 1: Open a Trading Account

Visit the Plus500 website and click on the 'Trade Now' button - which you'll find at the top of the screen.

You will now be asked to enter some personal information, such as your:

• Full Name
• Residential Adress
• Date of Birth
• Mobile Number
• Email Address
• Tax Number

Step 2: Verify Your Identity

You will now need to go through a swift KYC (Know Your Customer) process. Unlike the process at Bursa Anywhere, this can be completed in just a few minutes at Plus500. This is because the platform can verify your ID documents instantly through automated validation tech.

The two documents that you need to upload are:

• Photo ID: Passport, Driver's License, or Government ID Card
• Proof of Address: Bank Statement, Residence Certificate, Household Utility Bill, and Others

Take note, if you don't upload the above documents within 15 days of opening your account, Plus500 will be automatically suspended from using the platform.

Step 3: Deposit Funds

You will now be asked to deposit some funds. At Plus500, the minimum deposit on retail investor accounts is just $20 - or about 25 Singapore dollars.

Supported payment methods to benefit from this small deposit threshold include debit cards, credit cards, Trustly, Neteller and Skrill. If, however, you opt for a traditional bank wire, you will need to deposit at least $250.

Step 4: Search for Asset

Once you have made a deposit, you can start trading at Plus500. The process of finding your chosen market is easy, as you can simply search for the asset you wish to trade.

Or, you can use the filter section at the top of the screen - which breaks down each asset class, such as shares, forex, or commodities.

Step 5: Place a Trade

Once you have found an asset you wish to trade, click on the 'Buy' or 'Sell' button - depending on whether you think the financial instrument will rise or fall.

Then, you simply need to enter the amount you wish to stake on this trade. By default, you will be placing a 'Market Order', meaning that your trade will be executed instantly at the best available price. If, however, you want to enter the trade at a specific price, change this to a 'Limit Order'.

You can also set up stop-loss and take-profit orders on Plus500  -which is suggested for risk-management purposes.

Finally, confirm the order to execute your first trade!

Conclusion

In summary, there are now dozens of top-rated providers in the online trading scene. We have discussed a selection of the best trading platforms Singapore - although there are many more.

The key point to remember is that you should always do your homework before joining an online broker. This should include a focus on metrics like regulation, tradable instruments, leverage, payments, and fees.

If you're looking to start trading with the best trading platform Singapore right now - Plus500 is worth considering. This user-friendly platform allows you to get started with a mere deposit of just $20 - and all supported markets can be traded commission-free!

Plus500 - Best Trading Platform Singapore

Your capital is at risk.

71.2% of retail investor accounts lose money when trading CFDs with this provider.

FAQs

Who is the best broker in Singapore for stocks?

If you're looking for the best active brokers for trading stocks, you might want to consider Plus500 This top-rated platform gives you access to thousands of stocks from multiple international markets - all on a commission-free basis.

Is forex trading legal in Singapore?

Yes, forex trading is legal in Singapore. With that said, most locals use regulated forex brokers located overseas, as these typically offer the most diverse currency markets and most competitive commissions.

Who are the best brokers Singapore for low fees?

If you're based in Singapore and looking for the best online broker for low fees, Plus500 wins hands down. This is because the platform allows you to trade commission-free, and spreads are often industry-leading.

Are Singaporean trading platforms regulated?

Not all trading platforms are regulated, so you need to ensure that your chosen provider holds a license with a reputable financial body before signing up. .

How do you buy stocks in Singapore

If you are planning to trade international stocks listed in the US, UK, or any other region - all you need to do is open an account with commission-free platform Plus500. If, however, you are looking to invest in Singaporean stocks, then Bursa Anywhere is going to be the best option. .

How much do you need to trade in Singapore?

The minimum deposit will vary depending on which broker you sign up with. You can, however, get started with a minimum deposit of just $20 (about 80 ringgit) at Plus500.