Who supervises brokers in Singapore?

Supervision sits with MAS. 11 of the providers available here hold a licence from a local authority; the rest operate under a foreign authorisation. Investor protection: No compensation scheme for securities; deposits up to SGD 100,000 (SDIC).

Does the broker withhold tax in Singapore for me?

No reviewed provider withholds tax in Singapore. You have to declare your investment income yourself — factor that effort in before choosing a foreign provider.

🇸🇬 SG · Country profile

Best brokers in Singapore

Singapore is among the most tax-attractive locations for investors and tightly regulated at the same time. There is no general compensation scheme for securities accounts — protection rests mainly on MAS supervision and segregated client money. On top of that, Part 11 of the Securities and Futures Act requires the approved exchange to maintain a fidelity fund, which compensates non-accredited investors for defalcation by an exchange member.

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

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
Reviewed providers: 31 of 72

Investor protection

No compensation scheme for securities; deposits up to SGD 100,000 (SDIC)

The part that decides

Tax notes

Singapore levies no capital gains tax. Dividends from a Singapore-resident company under the one-tier system are exempt in the shareholder's hands and there is no dividend withholding tax; foreign dividends received by resident individuals are likewise exempt unless received through a partnership in Singapore. Foreign withholding taxes still apply — Singapore has no tax treaty with the United States. Frequent, dealing-like activity can be assessed as taxable trading income.

Brokers that withhold tax locally

No reviewed provider withholds tax here — you have to declare the income yourself.

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.

All brokers in this category

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.

IG

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

4,5

Experienced CFD and spread bet tradersMulti-asset traders who want one accountUK ISA and SIPP investors

Volume rebate — CFD volume rebate at the Bermuda entity

Stocks (per order): Free
Minimum deposit: None
EUR/USD spread: 0.9 pips

Around 17,000 tradable markets in a single account — shares, indices, FX, commodities, bonds, ETFs, turbo warrants and crypto CFDs, subject to regional restrictions
Six top-tier licences — FCA (FRN 195355), BaFin, FINMA, ASIC (AFSL 515106), MAS and JFSA — plus a mid-tier DFSA licence in Dubai; the FINMA licence among those six is a full Swiss banking licence at IG Bank S.A., which puts Swiss cash under esisuisse protection
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 100/100Protection depends on your legal entity

FCABaFin+5

StocksETFsOptionsFuturesForex+8

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Interactive Brokers

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

4,5

Active and professional tradersMulti-currency investorsOptions and futures traders

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

Stocks (per order): 0.05 %
Minimum deposit: None
EUR/USD spread: 0.1 pips

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
Currency conversion at 0.20 basis points (minimum USD 2) — an order of magnitude cheaper than most European brokers' 0.25%–1.5%
Customer support is the standout weakness — ticket-first, slow, and frequently answered with generic templates

Group index 90/100Protection depends on your legal entity

SECFCA+3

StocksETFsOptionsFuturesForex+7

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CMC Markets

The best charting package in retail CFD trading, wrapped around a narrower product range than the market count suggests.

4,4

Technical and chart-driven tradersUK and Irish spread bettingActive FX traders on FX Active

Stocks (per order): Free
Minimum deposit: None
EUR/USD spread: 0.7 pips

Next Generation is the strongest charting suite bundled with a retail CFD account — 115+ indicators, 70 chart patterns, 12 chart types and pattern-recognition scanners, at no extra cost
0% commission on UK and European share CFDs (Greece the sole exception at 0.45%), against IG's spread-plus-conversion model
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 94/100Protection depends on your legal entity

FCAFCA+4

StocksETFsOptionsForexCFDs+5

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Pepperstone

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

4,4

Active FX tradersScalping and day tradingMetaTrader and cTrader users

From 0.0 pips — Raw spreads from 0.0 pips with commission

Stocks (per order): 0.1 %
Minimum deposit: US$10
EUR/USD spread: 0.8 pips

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
No inactivity fee, no account-keeping fee and no account closure fee, confirmed on Pepperstone's own costs page
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 82/100Protection depends on your legal entity

FCAASIC+5

StocksETFsForexCFDsCrypto+4

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Saxo

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

4,4

Multi-asset portfoliosBond investorsOptions and futures traders

Tiered — Improved pricing at higher account tiers

Stocks (per order): 0.08 %
Minimum deposit: None
EUR/USD spread: 0.7 pips

Full Danish banking licence (Finanstilsynet licence 1149) and SIFI designation — a stronger structural safeguard than a broker-only permission
US stocks and ETFs at 0.08% with a USD 1 minimum on the entry-level Classic tier, and 0.05%/0.03% at higher tiers
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 96/100Protection depends on your legal entity

DFSAFCA+3

StocksETFsOptionsFuturesForex+6

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moomoo

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

4,3

Data-driven active tradersUS options tradersAsia-Pacific investors

Stocks (per order): Free
Minimum deposit: None
5,000 order: €0

Free Nasdaq TotalView Level 2 depth on the US platform — Webull charges USD 3.99 per month for comparable data
USD 0 commission and USD 0 contract fee on US stocks, ETFs and equity options for US residents
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 86/100Protection depends on your legal entity

FINRAMAS+3

StocksETFsOptionsFuturesCrypto+2

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CapTrader

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

4,2

German-speaking options and futures tradersActive traders who want IBKR pricing with German supportMulti-currency and global stock investors

Stocks (per order): 0.1 %
Minimum deposit: €2,000
FX conversion: 0 %

BaFin-supervised German investment firm (institution number 10156708) with a Düsseldorf address, German contract law and a free German hotline until 20:00
Eurex options and futures at EUR 2.00 per contract, Mini-DAX futures at EUR 1.00 and CME Micro E-minis at USD 1.25 — competitive with anything available to German retail traders
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 81/100Protection depends on your legal entity

BaFinCBI+1

StocksETFsOptionsFuturesForex+6

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IC Markets

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

4,2

Algorithmic and EA tradersScalping and high-frequency FXcTrader users

Stocks (per order): 0.1 %
Minimum deposit: €200
EUR/USD spread: 0.8 pips

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
Raw Pro at USD 1.50 per lot from a USD 5,000 balance and Raw Pro+ at USD 1.00 per lot from USD 100,000 - a real volume ladder rather than a marketing tier
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 70/100Protection depends on your legal entity

ASICCySEC+4

StocksFuturesForexCFDsCrypto+4

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tastytrade

The cheapest serious options broker in the US — built by people who trade premium for a living.

4,2

Options premium sellersHigh-volume multi-leg tradersSmall-account futures traders

USD 0 to close — No commission to close options positions

Stocks (per order): Free
Minimum deposit: None
5,000 order: €0

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
Futures at USD 1.00 per contract per side and micro futures at USD 0.75, with options on micro futures also USD 0.75
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 82/100Protection depends on your legal entity

FINRASEC+1

StocksETFsOptionsFuturesCrypto+4

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Kraken

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

4,1

Traders who prioritise regulatory qualityCrypto derivatives and margin tradersAPI and algorithmic traders

Stocks (per order): Free
Minimum deposit: €1
5,000 order: €0

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
Two MiCA Crypto-Asset Service Provider authorisations plus an EMI licence from the Central Bank of Ireland, passported across all 30 EEA countries
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 78/100Protection depends on your legal entity

CBICBI+10

StocksETFsOptionsFuturesForex+2

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OANDA

Thirty years, six top-tier licences and the best mobile app in FX - attached to spreads you have to work around.

4,1

BeginnersMobile-first tradersUS and Canadian residents

Stocks (per order): 0.06 %
Minimum deposit: None
EUR/USD spread: 1.7 pips

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
Trading since 1996, with client money segregated and FSCS cover up to GBP 85,000 for UK clients and CIPF cover up to CAD 1,000,000 in Canada
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 89/100Protection depends on your legal entity

CFTC/NFAFCA+6

StocksETFsForexCFDsCrypto+5

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ThinkMarkets

Raw-spread pricing, six licences and the best mobile app in the CFD category - held back by its withdrawal record.

4,1

Active FX tradersMobile-first tradersRaw-spread scalping

Stocks (per order): in the spread
Minimum deposit: None
EUR/USD spread: 1.1 pips

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
Three top-tier licences - FCA 629628, ASIC AFSL 424700 and JFSA registration 0250 - alongside CySEC 215/13 and FSCA FSP 49835
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 79/100Protection depends on your legal entity

FCAASIC+4

StocksETFsForexCFDsCrypto+3

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By trading style

Best broker per category

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

Forex

Weighted on: Fees · Trading platform

Stocks

Weighted on: Fees · Product range

Options

Weighted on: Fees · Trading platform

Futures

Weighted on: Fees · Trading platform

Crypto

Weighted on: Fees · Safety & regulation

CFDs

Weighted on: Fees · Safety & regulation

ETFs

Weighted on: Fees · Safety & regulation

Beginners

Weighted on: Education · Trading platform

1OANDA4,1
2eToro4,1
3AvaTrade4,1

Lowest cost

Weighted on: Fees · Safety & regulation

Transparency

Not available here

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

Charles SchwabNot offered
Fidelity InvestmentsExplicitly excluded
Capital.comExplicitly excluded
XTBExplicitly excluded
NordnetNot offered
QuestradeNot offered
Admirals (Admiral Markets)Not offered
AJ BellNot offered
interactive investorNot offered
LYNXNot offered
Qtrade Direct InvestingNot offered
Trading 212Not offered
Wealthsimple TradeNot offered
BybitExplicitly excluded
DEGIRONot offered
flatexNot offered
comdirectNot offered
ConsorsbankNot offered
EstablyNot offered
Freedom24Not offered
Public.comNot offered
RobinhoodExplicitly excluded
Scalable CapitalNot offered
TickmillExplicitly excluded
Vantage MarketsExplicitly excluded
BitpandaNot offered
CornèrtraderNot offered
ExnessExplicitly excluded
Hargreaves LansdownNot offered
LightyearNot offered
Smartbroker+Not offered
Trade RepublicNot offered
finanzen.net ZERONot offered
FreetradeNot offered
Markets.comExplicitly excluded
YuhNot offered
SkillingExplicitly excluded
BUXNot offered
justTRADENot offered
PostFinance E-TradingNot offered
Revolut InvestNot offered

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#	Broker	Overall score	Stocks (per order)	Minimum deposit	FX conversion	Local licence	Tax withheld	Asset classes	Action
1	IGFCA · BaFin · FINMA	4,5	Free	None	0.8 %	Local licence	Tax withheld	13	Visit broker
2	Interactive BrokersSEC · FCA · CBI	4,5	0.05 %	None	0 %	Local licence	Tax withheld	12	Visit broker
3	CMC MarketsFCA · ASIC · BaFin	4,4	Free	None	0.7 %	Local licence	Tax withheld	10	Visit broker
4	PepperstoneFCA · ASIC · BaFin	4,4	0.1 %	US$10	0.8 pips	Local licence	Tax withheld	9	Visit broker
5	SaxoDFSA · FCA · FINMA	4,4	0.08 %	None	0.25 %	Local licence	Tax withheld	11	Visit broker
6	moomooFINRA · MAS · ASIC	4,3	Free	None	n/a	Local licence	Tax withheld	7	Visit broker
7	CapTraderBaFin · CBI · FCA	4,2	0.1 %	€2,000	0 %	Local licence	Tax withheld	11	Visit broker
8	IC MarketsASIC · CySEC · FSA	4,2	0.1 %	€200	0.8 pips	Local licence	Tax withheld	9	Visit broker

Provider holds a licence from a supervisory authority of this country. Provider withholds capital gains tax in this country automatically.

Countries

Frequently asked questions

31 of the 72 providers we review 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.

Keep comparing

Other countries

Neighbouring countries

Regulation and tax rules stop at the border — the comparison is worth it.

Hong KongSFC · HKD34brokers AustraliaPopularASIC · AUD36brokers United Arab EmiratesCMA · DFSA · FSRA · AED38brokers

Other countries

Germany54 Austria51 Switzerland46 United Kingdom43 United States16 Netherlands49 France46 Canada17 Italy46 Spain46 Poland43 Sweden44 Norway44 Denmark44 Belgium30 Portugal44 Ireland46 New Zealand29

See all countries

Best brokers in Singapore

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

Broker

Overall score

Stocks (per order)

Minimum deposit

FX conversion

Local licence

Tax withheld

Asset classes

IGFCA · BaFin · FINMA

4,5

Free

None

0.8 %

Visit broker

Interactive BrokersSEC · FCA · CBI

4,5

0.05 %

None

0 %

Visit broker

CMC MarketsFCA · ASIC · BaFin

4,4

Free

None

0.7 %

Visit broker

PepperstoneFCA · ASIC · BaFin

4,4

0.1 %

US$10

0.8 pips

Visit broker

SaxoDFSA · FCA · FINMA

4,4

0.08 %

None

0.25 %

Visit broker

moomooFINRA · MAS · ASIC

4,3

Free

None

n/a

Visit broker

CapTraderBaFin · CBI · FCA

4,2

0.1 %

€2,000

0 %

Visit broker

IC MarketsASIC · CySEC · FSA

4,2

0.1 %

€200

0.8 pips

Visit broker

Market profile

Singapore

Tax notes

The ranking

Best broker per category

Not available here

The top 8, row by row

Frequently asked questions

Which brokers accept clients from Singapore?

Who supervises brokers in Singapore?

How is investment income taxed in Singapore?

Does the broker withhold tax in Singapore for me?

Other countries

Neighbouring countries

Other countries

Market profile

Singapore

Tax notes

The ranking

Best broker per category

Not available here

The top 8, row by row

Frequently asked questions

Which brokers accept clients from Singapore?

Who supervises brokers in Singapore?

How is investment income taxed in Singapore?

Does the broker withhold tax in Singapore for me?

Other countries

Neighbouring countries

Other countries