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SG · Country profile

Best brokers in Singapore

The Monetary Authority of Singapore (MAS) supervises the market; brokers such as Webull and moomoo hold a Capital Markets Services licence under the Securities and Futures Act 2001. For securities, Part 11 of the Securities and Futures Act requires the exchange to keep a fidelity fund, which compensates non-accredited investors for defalcation by an exchange member; SDIC deposit insurance does not cover securities. For retirement saving there is the voluntary SRS, whose savings moomoo and Tiger Brokers say can be invested through their platforms, and the CPF Investment Scheme: CPF members can invest Ordinary Account savings above SGD 20,000 through a CPF Investment Account with DBS, OCBC or UOB, with at most 35% in shares.

The ranking

Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.

Brokers available
31of 72
With a local licence
11
Tier-1 regulated
30
Avg. score
4.0

Market in figures

Singapore: the broker market in figures

31 of the 72 brokers in our dataset accept clients resident in Singapore. The figures below count only what a record documents — a missing entry never counts as a yes.

SGD as an account currency
15of 31
Customer support in English
31of 31
Commission on a €5,000 share order
€0 – €511 providers with a comparable price
No custody fee (documented)
15of 31

Run your own numbers

Country profile

Market profile

Supervision, investor protection and tax — the three points that decide the account.

Singapore

SG · Country profile

Local currency
SGD
Local regulator
MAS
Recorded providers
31 of 72

Investor protection

No general compensation scheme for securities accounts. Part 11 of the Securities and Futures Act (“Investor Compensation Scheme”) requires each approved exchange to keep a fidelity fund that compensates investors other than accredited investors for defalcation by a CMS-licensed firm that is a member of the exchange; it can also reduce a shortfall in that member's bankruptcy. It covers only dealings on that exchange. SDIC insures Singapore-dollar deposits at member institutions up to SGD 100,000 per person and institution; foreign-currency deposits, structured deposits, securities and fund units are not covered.

The part that decides

Tax notes

Per the tax authority IRAS, gains from buying and selling shares and other financial instruments are generally viewed as personal investments and are not taxable. Dividends from a Singapore-resident company under the one-tier system are exempt (except from co-operatives); foreign dividends received by resident individuals are exempt unless received through a partnership in Singapore. Foreign withholding taxes still apply: Singapore has no tax treaty with the United States, so US dividends bear 30% US withholding tax. Contributions to the Supplementary Retirement Scheme (SRS) reduce taxable income — up to SGD 15,300 a year for citizens and permanent residents, SGD 35,700 for foreigners; withdrawals from the statutory retirement age are 50% taxable, earlier ones fully taxable plus a 5% penalty.

Brokers that withhold tax locally

Our dataset records no provider as a tax withholding agent for this country. How you declare the income is governed by the country's tax law.

Orientation based on the general legal position — not tax advice. Your personal situation and the legislation in force at the time govern.

Available here

The ranking

Ranked by our overall score across ten weighted criteria. Only providers that accept clients resident here.

See all brokers
Where you live decides which brokers and promotions are open to you. The page language is independent of it.

Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.

Rank 1IG logo

IG

The most complete leveraged-trading operation in Europe — and it prices like it knows that.

  • Experienced CFD and spread bet traders
  • Multi-asset traders who want one account

Volume rebate — CFD volume rebate at the Bermuda entity

Stocks (per order)
Free
Minimum deposit
None
FX conversion
0.8 %
StocksETFsOptionsFutures+9
  • Pros: Around 17,000 tradable markets in a single account — shares, indices, FX, commodities, bonds, ETFs, turbo warrants and crypto CFDs, subject to regional restrictions
  • Cons: The 0.8% currency conversion mark-up on foreign-currency CFD and spread bet trades is where much of the real cost hides — on a USD position round-trip it comfortably exceeds the spread
Group index 100/100
FCABaFin, FINMA, ASIC, MAS, JFSA, DFSA
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 2Interactive Brokers logo

Interactive Brokers

The cheapest serious route to almost every market on earth — if you can live with the learning curve.

  • Active and professional traders
  • Multi-currency investors

Up to USD 1,000 in stock — Referral programme with share credit

Note: this button leads to the Interactive Brokers home page and is not a referral link. The share credit is only available if you open the account through an invitation from an existing Interactive Brokers client.

Stocks (per order)
0.05 %
Minimum deposit
None
FX conversion
0 %
StocksETFsOptionsFutures+8
  • Pros: US stocks from USD 0.0035 per share on the Tiered plan, minimum USD 0.35 per order and capped at 1% of trade value
  • Cons: Customer support is the most common complaint: many requests go through the ticket system, and public reviews (e.g. on Trustpilot) often cite slow replies and template answers
Group index 90/100
SECFCA, CBI, ASIC, MAS
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 3CMC Markets logo

CMC Markets

One of the best charting packages in retail CFD trading, wrapped around a narrower product range than the market count suggests.

  • Technical and chart-driven traders
  • UK and Irish spread betting
Stocks (per order)
Free (CFD)
Minimum deposit
None
FX conversion
0.7 %
StocksETFsOptionsForex+6
  • Pros: Next Generation is one of the strongest charting suites bundled with a retail CFD account —115+ indicators, 70 chart patterns, 12 chart types and pattern-recognition scanners, at no extra cost
  • Cons: None of CMC's derivatives is exchange-traded: the options it quotes are OTC and cash-settled, and there are no cleared futures at all, so CMC is the counterparty on every derivative contract and no clearing house stands behind it
Group index 94/100
FCAASIC, BaFin, MAS
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 4

Pepperstone

Raw spreads and five platforms for traders who care about execution cost, not about owning the asset.

  • Active FX traders
  • Scalping and day trading

From 0.0 pips — Raw spreads from 0.0 pips with commission

Stocks (per order)
0.1 % (CFD)
Minimum deposit
US$10
FX conversion
n/a
StocksETFsForexCFDs+5
  • Pros: Razor all-in EUR/USD cost of about 0.8 pips - a 0.0 to 0.1 pip raw spread plus USD 3.50 per lot per side
  • Cons: Everything is a CFD. You never own the share or ETF, so there are no voting rights, no transferable holdings and no dividend tax reclaim
Group index 82/100
FCAASIC, BaFin, CySEC, DFSA, SCB, CMA
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 5Saxo logo

Saxo

A Danish bank that trades like a professional platform — broad, polished, and no longer expensive.

  • Multi-asset portfolios
  • Bond investors

Tiered — Improved pricing at higher account tiers

Stocks (per order)
0.08 %
Minimum deposit
None
FX conversion
0.25 %
StocksETFsOptionsFutures+7
  • Pros: Full Danish banking licence (Finanstilsynet licence 1149) and SIFI designation — a stronger structural safeguard than a broker-only permission
  • Cons: Currency conversion costs 0.25% over mid-market for EU and Swiss clients, and up to 0.60% at the UK entity's Classic tier — the single largest hidden cost for cross-currency investors
Group index 96/100
DFSAFCA, FINMA, MAS, JFSA
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 6

moomoo

One of the most data-rich free trading platforms on the market — if you happen to live in one of the seven countries it serves.

  • Data-driven active traders
  • US options traders
Stocks (per order)
Free
Minimum deposit
None
FX conversion
n/a
StocksETFsOptionsFutures+3
  • Pros: Free Nasdaq TotalView Level 2 depth on the US platform — Webull charges USD 3.99 per month for comparable data
  • Cons: Available to residents of only seven countries — the United States, Canada, Singapore, Australia, Japan, Malaysia and New Zealand — with no EU, UK or DACH entity
Group index 86/100
FINRAMAS, ASIC, CIRO, SC
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 7CapTrader logo

CapTrader

Interactive Brokers' market access wrapped in German regulation, German support and a German phone number.

  • German-speaking options and futures traders
  • Active traders who want IBKR pricing with German support
Stocks (per order)
0.1 %
Minimum deposit
€2,000
FX conversion
0 %
StocksETFsOptionsFutures+7
  • Pros: BaFin-supervised German investment firm (institution number 10156708) with a Düsseldorf address, German contract law and a free German hotline until 20:00
  • Cons: No Abgeltungsteuer is withheld. German investors gain a compounding advantage but must declare everything themselves via Anlage KAP, and a Freistellungsauftrag is not possible — for many people that alone rules CapTrader out
Group index 81/100
BaFinCBI, FCA
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 8

IC Markets

One of the cheapest routes to raw institutional FX pricing - as long as you check which entity you are signing with.

  • Algorithmic and EA traders
  • Scalping and high-frequency FX
Stocks (per order)
0.1 % (CFD)
Minimum deposit
€200
FX conversion
n/a
StocksFuturesForexCFDs+5
  • Pros: All-in EUR/USD cost of roughly 0.6 to 0.8 pips on Raw Spread - a 0.0 to 0.1 pip raw spread plus USD 3.50 per lot per side
  • Cons: Most non-EU, non-Australian clients contract with Raw Trading Ltd under Seychelles licence SD018 - an offshore regulator with no investor compensation scheme behind it
Group index 70/100
ASICCySEC, FSCA, FSA, SCB, CMA
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 9tastytrade logo

tastytrade

An options-specialist US broker: USD 1 per contract to open, closing commission-free — built by people who trade premium for a living.

  • Options premium sellers
  • High-volume multi-leg traders

USD 0 to close — No commission to close options positions

Stocks (per order)
Free
Minimum deposit
None
FX conversion
n/a
StocksETFsOptionsFutures+5
  • Pros: Equity options are USD 1 per contract to open, USD 0 to close and capped at USD 10 per leg — large multi-leg orders scale for free
  • Cons: FINRA censured and fined tastytrade USD 850,000 in 2026 for failing to run adequate best-execution reviews on equity orders routed to five payment-for-order-flow market makers between 2020 and 2023
Group index 82/100
FINRASEC, NFA
Protection depends on your legal entity
Visit brokerRead review

Risk warning: investing in securities involves risk. You may lose some or all of the capital you invest.

Rank 10Kraken logo

Kraken

The most heavily licensed venue in crypto — and the only one that is also a chartered US bank.

  • Traders who prioritise regulatory quality
  • Crypto derivatives and margin traders
Stocks (per order)
Share trading not offered
Minimum deposit
€1
FX conversion
n/a
StocksETFsOptionsFutures+3
  • Pros: Wyoming SPDI bank charter through Kraken Financial — a full-reserve institution required to hold 100% unencumbered liquid assets against customer fiat, with a Federal Reserve limited-purpose master account
  • Cons: Entry-tier spot pricing of 0.40% maker and 0.80% taker is the most expensive base rate among major regulated venues, and you need USD 10,000 of 30-day volume before it drops below 0.40% taker
Group index 78/100
CBIFCA, SEC, CFTC, WY DoB, CySEC, VARA, BVI FSC
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 11

OANDA

Thirty years, six top-tier licences and one of the strongest mobile apps in FX - attached to spreads you have to work around.

  • Beginners
  • Mobile-first traders
Stocks (per order)
0.06 % (CFD)
Minimum deposit
None
FX conversion
1 %
StocksETFsForexCFDs+6
  • Pros: Regulated by six tier-1 authorities - CFTC/NFA, FCA (542574), CIRO, ASIC (AFSL 412981), MAS and the JFSA - a licence footprint almost nobody in retail FX matches
  • Cons: The default spread-only account is expensive: EUR/USD has been measured at 1.4 to 1.7 pips against roughly 0.8 pips all-in at raw-spread competitors
Group index 89/100
CFTC/NFAFCA, ASIC, CIRO, MAS, JFSA, KNF, BVI FSC
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Rank 12

ThinkMarkets

Raw-spread pricing, six licences and a strong mobile app - held back by its withdrawal record.

  • Active FX traders
  • Mobile-first traders
Stocks (per order)
in the spread (CFD)
Minimum deposit
None
FX conversion
n/a
StocksETFsForexCFDs+4
  • Pros: ThinkZero all-in EUR/USD cost of about 0.8 pips - raw spreads from 0.0 pips plus USD 3.50 per lot per side on forex and metals
  • Cons: 75 percent of ThinkMarkets UK retail accounts lose money trading CFDs, and disclosures across the group's entities have ranged from roughly 68 percent to 89 percent
Group index 79/100
FCAASIC, JFSA, CySEC, FSCA, FSA
Protection depends on your legal entity
Visit brokerRead review

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Accounts and offers

Tax-advantaged accounts in Singapore

What tax law provides, with source and date. Whether an account suits your situation is not something we judge — this is not tax advice.

Tax-advantaged accounts in Singapore
AccountLimitMinimum holding periodTax treatmentHoldings and rulesSource
SRSSupplementary Retirement SchemePension product
  • contributions up to SGD 15,300 per year, for citizens and permanent residents
  • contributions up to SGD 35,700 per year, for foreigners
not stated
  • Contributions reduce taxable income
  • Sales inside the account trigger no tax
  • Dividends and interest are not taxed as they arrive
  • Taxed on withdrawal or payout
not statedSource: mof.gov.sgAs of 25 October 2026
SRS
Voluntary retirement account. Every dollar contributed reduces taxable income, within the contribution cap and the SGD 80,000 cap on all personal income tax reliefs together. Returns are not taxed before withdrawal. Withdrawals on or after the statutory retirement age prevailing at the first contribution are 50% taxable; earlier withdrawals are fully taxable and incur a 5% penalty. The caps have applied since 1 January 2016 (MOF, updated 15 April 2026).

What brokers in our comparison offer in Singapore

Only brokers that accept clients resident in Singapore, and only what a source documents. A broker missing from a row is undocumented — not a “no”.

SRS offered

  • moomooSource: moomoo.comAs of 25 October 2026

    Per moomoo, cash, CPF and SRS savings can be invested on one platform (“CPF/SRS Account Linkage”).

Licence from a regulator of the country

By trading style

Best broker per category

Every category weights the rating criteria differently — which is why the same provider rarely wins everywhere.

Transparency

Not available here

Transparency means showing the gaps too. These recorded providers do not accept clients resident here.

Tax and protection

Tax, supervision and investor protection in Singapore

Every fact with its source and the date we read it. Not tax or investment advice.

Supervision

Investor protection

  • Deposit Insurance Scheme (SDIC)Bank deposits: up to SGD 100,000 per client and institutionSource: sdic.org.sgAs of 26 October 2026

    Per SDIC, Singapore-dollar deposits with member banks and finance companies are insured, including monies placed under the SRS and the CPF Investment Scheme; foreign-currency deposits, structured deposits and investment products such as unit trusts and shares are not (SDIC, “Scope of DI Coverage”). Deposit insurance therefore does not cover securities held with a broker.

Such schemes pay when an institution fails and cannot return securities or cash. They do not cover falling prices.

US withholding tax

30% on US dividends: there is no income tax treaty with the US

Source: irs.govAs of 25 October 2026

Singapore has no row of its own in IRS Table 1 (rev. May 2023), so the “Other Countries” rate of 30% applies to US dividends.

Locally licensed providers we do not compare (yet)

Not rated and not part of our ranking; listed alphabetically. The details come from the providers themselves and the sources named.

  • Endowus

    not rated
    Regulator:
    MAS
    Licence:
    CMS 101051
    Offer per source:
    SRS
    Website: endowus.comSource: endowus.comAs of 25 October 2026

    Investment platform focused on SRS and CPF savings; per Endowus, assets are held in the client's own name at Endowus and UOB Kay Hian.

  • Tiger Brokers (Singapore)

    not rated
    Regulator:
    MAS
    Offer per source:
    SRS
    Website: tigerbrokers.com.sgSource: tigerbrokers.com.sgAs of 25 October 2026

    Per its own website, “Invest with CPF/SRS” and linking of a CDP securities account; the company states it is authorised to operate only in Singapore. The page read gives registration number 201810449W but no licence number.

Sources and dates

We read every fact in these sections at the source named, on the date shown. Law and offers change; the source is what counts.

Show 8 sources
  1. Source: webull.com.sgAs of 25 October 2026
  2. Source: mof.gov.sgAs of 25 October 2026
  3. Source: moomoo.comAs of 25 October 2026
  4. Source: home.saxoAs of 25 October 2026
  5. Source: irs.govAs of 25 October 2026
  6. Source: sdic.org.sgAs of 26 October 2026
  7. Source: endowus.comAs of 25 October 2026
  8. Source: tigerbrokers.com.sgAs of 25 October 2026

Head to head

The top 8, row by row

Fees apply to retail accounts under normal market conditions. Each provider's data date is on its review.

The top 8, row by row — Singapore
Rank#BrokerOverall scoreStocks (per order)Minimum depositFX conversionLocal licenceTax withheldAsset classesAction
1IG logoIGFCA · BaFin · FINMA4.5FreeNone0.8 %Local licenceTax withheld13Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

2Interactive Brokers logoInteractive BrokersSEC · FCA · CBI4.50.05 %None0 %Local licenceTax withheld12Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

3CMC Markets logoCMC MarketsFCA · ASIC · BaFin4.4Free (CFD)None0.7 %Local licenceTax withheld10Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

4PepperstoneFCA · ASIC · BaFin4.40.1 % (CFD)US$100.8 pipsLocal licenceTax withheld9Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

5Saxo logoSaxoDFSA · FCA · FINMA4.40.08 %None0.25 %Local licenceTax withheld11Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

6moomooFINRA · MAS · ASIC4.3FreeNonen/aLocal licenceTax withheld7Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

7CapTrader logoCapTraderBaFin · CBI · FCA4.20.1 %€2,0000 %Local licenceTax withheld11Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

8IC MarketsASIC · CySEC · FSA4.20.1 % (CFD)€2000.8 pipsLocal licenceTax withheld9Visit broker

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Provider holds a licence from a supervisory authority of this country. Our dataset records the provider as a tax withholding agent for this country.

Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.

Countries

Frequently asked questions

31 of the 72 providers recorded in our dataset accept clients resident in Singapore. The highest rated right now are IG, Interactive Brokers and CMC Markets. The full ranking with fees and regulation is at the top of this page.

Content on Brokaro is for information purposes only and is not investment, legal or tax advice. All information is provided without guarantee; only the provider's own statements are authoritative.

Read on

Guides and calculators for investors in Singapore

Background on tax, fees and regulation — and calculators for your own amounts.

Guides

Calculators

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