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Best Trading Platforms in Singapore (2024)

Toni Nasr, CFA, FRM| Updated April 3rd, 2024

In the dynamic and evolving world of financial markets, having a reliable and efficient platform that caters to your specific needs is crucial. The best trading platform goes beyond providing essential functionalities and offers a range of additional features highly valued by traders. These features include fast and easy execution of orders at optimal prices, the ability to monitor instrument watchlists, instant alerts for important events, and access to real-time news updates.

However, in Singapore, where a wide range of trading platforms are available, finding the one that meets your requirements can be challenging. Each platform comes with its own unique features, tools, and services, making the selection process quite complex.

In this article, we will explore and compare the best trading platforms in Singapore and compare the best options available. We will carefully analyze platform features, trading tools, pricing structures, customer support, and security measures. Continue reading this article to discover our list of the top trading platforms in Singapore.

Best Trading Platforms in Singapore

Interactive Brokers | Best overall

Interactive Brokers offers a comprehensive range of trading platforms. Their investment platform, Trader Workstation (TWS), is an advanced desktop platform designed for active investors who engage in multi-product trading. Additionally, IBKR provides an easy-to-use mobile app called IBKR GlobalTrader.

Saxo Bank | Best for powerful trading tools

Saxo offers a range of trading platforms suitable for different needs. From the simple and fast SaxoInvestor platform to the award-winning SaxoTraderGO and the fully customizable SaxoTraderPRO, you can access powerful trading tools tailored to your preferences.

Pepperstone | Best for MetaTrader4 (MT4) and MetaTrader5 (MT5)

Pepperstone is a popular broker that offers several trading platforms like TradingView, MetaTrader4 (MT4), MetaTrader5 (MT5), and cTrader, which are well-suited for social trading and copy trading features, allowing users to automatically replicate the trades and strategies of successful traders.

Plus500 | Ideal for CFDs

Plus500 is a leading multi-asset online broker that provides commission-free trading in CFDs on Indices, Forex, Commodities, Cryptocurrencies, Shares, Options, and ETFs. They offer their own user-friendly proprietary web trading platform called WebTrader.
Disclaimer: 82% of retail CFD accounts lose money.

Best Trading Platforms in Singapore compared

Broker Interactive Brokers Saxo Bank Pepperstone Plus500
Products available Stocks, ETFs, Options, Futures, Forex, Commodities, Bonds, and Funds Stocks, ETFs, Options, CFDs on Indices, Commodities, Forex, and Cryptocurrencies CFDs on Stocks, ETFs, Forex, Indices, Commodities and Cryptocurrencies CFDs on Stocks, Indices, Commodities, Forex, ETFs, Options, Cryptocurrencies
Minimum deposit S$0 S$3,000 S$0 S$200
Deposit Method Bank transfer Bank transfer, credit/debit cards, and electronic wallets Bank transfer, credit/debit cards, PayPal, Neteller, and Skrill, and more. Bank transfer, credit/debit cards, PayPal, PayNow, ApplePay
Fees on stocks Between $0.0005 and $0.0035 per US share.

Between 0.02% and 0.08% for SG shares.

Between 0.03% and 0.08% for US stocks (min. $1 per order)

Between 0.03% and 0.08% for SG stocks (min. S$3 per order)

$0.02 per side  for US CFD shares

Between 0.07% and 0.20% per side for international CFD shares

$0

In the following reviews, we discuss the features of each trading platform, where each broker differs in terms of pricing, accessible markets and instruments, and other special features.

Best trading platforms in Singapore reviewed

1# Interactive Brokers

interactive brokers logo
Visit Interactive BrokersBest Trading Platforms in Singapore (2024) 1

Interactive Brokers at a glance

Products availableStocks, ETFs, Options, Futures, Forex, Commodities, Bonds, and Funds
Maximum LeverageUp to 30x
Minimum DepositS$0
RegulatorsFINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS, MNB

Founded in 1978, Interactive Brokers is one of the largest international brokers listed on the NASDAQ exchange (Ticker: IBKR) and is regulated by many international top-tier regulators with no minimum deposit requirement. 

Interactive Brokers supports various account base currencies, including SGD, USD, EUR, and other major currencies. However, funding these accounts is limited to bank transfers. They offer one of the tightest spreads in the market, ensuring favourable trading conditions, but their commission is tier-based, meaning it varies depending on your monthly trading volume.

Interactive Brokers offers a comprehensive range of trading platforms to cater to the diverse needs of traders. These platforms include the web-based Client Portal, the GlobalTrader Mobile app, and the professional-grade Trader Workstation (TWS), offering a wide array of features and tools to meet the diverse needs of traders.

The web-based Client Portal is designed to be user-friendly, making it accessible to both beginners and experienced investors. It provides real-time monitoring, customizable watchlists, alerts, and a range of advanced features, such as over 120 technical indicators for advanced technical analysis. Traders can create personalized templates, access advanced charting tools, utilize various order types, and benefit from Smart Routing, which selects the optimal trading route for each trade.

Best Trading Platforms in Singapore (2024) 2

Best Trading Platforms in Singapore – IBKR Web App

Interactive Brokers offers the IBKR Mobile app providing convenience and advanced functionality for traders who prefer to trade on the go. A notable feature of IBKR Mobile is the chatbot IBot, which allows users to quickly access basic information and execute or close orders directly through the chat interface. IBot serves as a natural language trading interface, enabling traders to complete key trading tasks in TWS using plain English commands. This feature enhances the user experience and simplifies trading activities.

IBKR GlobalTrader is another mobile trading app offered by Interactive Brokers that allows traders to engage in simple and worldwide trading. The app offers the flexibility to trade in fractions and invest with as little as $1, making trading accessible to traders of all levels. You can also open a simulated trading account to practice trading before opening a live account and gain access to $10,000 in simulated cash to trade in a simulated trading environment.

On the downside, you might be overwhelmed by the number of buttons and features available on each platform, especially if you are new to trading. However, Interactive Brokers offers a lot of educational materials and video tutorials to assist you in navigating and utilizing their platforms effectively. These resources can be beneficial regardless of the specific platform you are trading or using. 

You can check our comprehensive Interactive Brokers review for more details.

3# Saxo Bank

Saxo-logo
Visit Saxo BankBest Trading Platforms in Singapore (2024) 1

62% of retail CFD accounts lose money.

Saxo Bank at a glance

Products availableStocks, ETFs, Options, CFDs on Indices, Commodities, Forex, and Cryptocurrencies
Maximum LeverageUp to 20x
Minimum DepositS$3,000
RegulatorsASIC, FSA, FCA, SFC, MAS, FINMA, and DFSA

Saxo Bank is a distinguished multi-asset broker renowned for its exceptional trading platform experience and extensive range of over 72,000 tradable instruments. It was founded in 1992 and offers a comprehensive suite of trading tools, in-depth research capabilities, and premium features.

Best Trading Platforms in Singapore (2024) 4

Saxo Investor Trading Platform

Saxo offers a range of trading platforms designed to meet the diverse needs of investors.

  • SaxoInvestor, their simple and fast investment platform, is ideal for beginners. It provides curated stock lists, trending investment themes, and easy access to a variety of asset classes such as stocks, mutual funds, ETFs, bonds, and managed portfolios. You can conveniently manage your investments on your phone, tablet, or computer;
  • For more experienced traders, SaxoTraderGO is an award-winning platform with advanced features. It offers enhanced trade tickets, comprehensive charting tools, options chains, performance analysis, fundamental and technical analysis tools, and a detailed account overview. It supports both mobile and desktop access, allowing traders to set up a one-screen layout or utilize a second screen for charting;
  • SaxoTraderPRO is a fully customizable, professional-grade platform with features like algorithmic orders, one-click trading, options chains, and advanced charting packages. You can fully customize the workspace across multiple screens and benefit from advanced workspace management and multi-channel linking between modules. 

Saxo also provides connectivity to third-party platforms, allowing you to extend your capabilities through custom tools that suit your specific trading requirements. These tools include asset-specific analysis tools, advanced strategy backtesting, and hyper-responsive charting. Saxo ensures best-in-class execution and competitive pricing across all their platforms, and traders can connect to Saxo’s capital markets infrastructure through FIX API or OpenAPI for tailored multi-asset liquidity and seamless access to market data.

Saxo Bank lets you open an account in a wide range of currencies, including SGD, USD, EUR, GBP and several other major currencies. However, it is important to note that the minimum initial funding requirement is SGD 3,000, which may be higher than some other brokers.

3# Pepperstone

Best Trading Platforms in Singapore (2024) 5
Visit PepperstoneBest Trading Platforms in Singapore (2024) 1

74-89% of retail CFD accounts lose money.

Pepperstone at a glance

Products availableCFDs on Stocks, ETFs, Forex, Indices, Commodities and Cryptocurrencies
Maximum LeverageUp to 200x
Minimum Deposit$0
RegulatorsASIC, SCB, CySEC, FCA, BaFin, and DFSA

Pepperstone was established in 2010 and currently serves more than 300,000 traders across the globe. It is an excellent choice for Singaporean traders seeking to utilize the popular MetaTrader while enjoying free deposits and withdrawals. Additionally, Pepperstone provides access to trade CFDs across various asset classes, including shares, indices, commodities, ETFs, and currency indexes. 

With Pepperstone’s range of trading platforms, you can access reliable technology, fast execution, and diverse tools to enhance your trading experience. Whether you prefer the popularity of MetaTrader 4 (MT4), the advanced functionality of MetaTrader 5 (MT5), the intuitive design of cTrader, or the integrated power of TradingView, Pepperstone has a platform to suit your trading needs. Here’s a brief description highlighting the main features of each platform.

  • MetaTrader 4 (MT4): It is the renowned Forex trading platform where you can customize the platform to match your trading style, create and execute expert advisors using MQL4, identify high probability trades with Autochartist, and utilize a wide range of 28 indicators and expert advisors with Smart Trader Tools;
  • MetaTrader 5 (MT5): The platform offers enhanced functionality, advanced features and easy coding with MQL5. It provides faster processing, 38 inbuilt indicators, 21 timeframes and advanced customization options;
  • cTrader: An intuitive and user-friendly trading platform designed to provide advanced features allowing you to control slippage and order fills. You can benefit from FIX API connectivity and coding in C# with cTrader Automate, and it offers powerful charting and extensive customization options. TradingView is easily integrated with Pepperstone through cTrader, where you will get access to the web-based social network for traders. It enables interaction and facilitates the sharing of trading ideas among a large trading community.

Pepperstone allows account opening in multiple currencies, including SGD, USD, EUR and more. In addition, you can benefit from significant leverage of up to 1:200, although it is essential to consider the potential risks associated with higher leverage.

4# Plus500

Best Trading Platforms in Singapore (2024) 7
Visit Plus500Best Trading Platforms in Singapore (2024) 1

80% of retail CFD accounts lose money.

Plus500 at a glance

Products availableCFDs on Stocks, Indices, Commodities, Forex, ETFs, Options, Cryptocurrencies
Maximum LeverageUp to 20x
Minimum DepositS$200
RegulatorsASIC, CySEC, FMA, MAS, SFSA, FSCA, FCA

Established in 2008, Plus500 is another broker included in our list of the best trading platforms in Singapore. It has developed its own user-friendly web trading platform and a mobile app that provides access to over 2,800 CFDs. It’s a great choice for those wanting to keep their costs low, as it offers tight spreads, free deposits, and withdrawals. Its services are mostly compensated through the “market spread,” meaning you won’t have to pay any commissions for your trades (overnight fees still apply).

Plus500 offers a wide range of indicators and drawing tools that assist you in analyzing trends and market movements. You can open an account online, and you can fund it by bank transfer, credit or debit cards, PayPal, PayNow, or ApplePay, and the minimum deposit is S$200.

Best Trading Platforms in Singapore (2024) 9

Best Trading Platforms in Singapore – Plus500 Webtrader Trading Platform

Plus500 provides accessible customer support through a live chat feature available directly on their trading platform. You can open an account in multiple currencies, including SGD, USD, EUR, GBP, and several other major currencies. However, it’s important to note that they do charge a 0.70% currency conversion fee.

On the downside, Plus500 provides very few educational materials and research reports compared to other brokers. Additionally, if you don’t access your account for three consecutive months, a $10 (or equivalent, depending on your currency) monthly fee will be charged. This is a shorter timeframe than some other brokers, who typically impose this fee after one year of inactivity. 

Want to know more about Plus500? Check our Plus500 Review.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorized by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe, such as leverage limitations and bonus restrictions.

What Makes a Good Trading Platform?

A well-designed and efficient trading platform can significantly enhance your trading experience and improve your chances of success in the financial markets. Here are some key factors that make a trading platform stand out:

  • User-friendly interface: Intuitive and easy-to-navigate interface that enables smooth and seamless trading with a clear and organized layout;
  • Order execution: Fast and efficient order execution with minimal slippage and a platform that supports various order types to suit different trading strategies, including market orders, limit orders, stop orders, and others;
  • Regulation: Regulation by reputable financial authorities such as the Australian Securities and Investments Commission (ASIC) to ensure compliance with industry standards and protect investor interests;
  • Customization and personalization: Ability to save and customize watchlists, create personalized trading templates, and set up custom alerts. If you are a professional trader, you might be looking for a platform that is highly customizable;
  • Excellent customer support: Availability of multiple channels of support, such as live chat, email, and phone, with knowledgeable and responsive support representatives;
  • Products available: A diverse selection of assets allows you to explore various markets, diversify your portfolio, and take advantage of different investment opportunities. You might want to consider a trading platform that includes the main products you want to trade.

The Bottom Line

Identifying the best trading platforms in Singapore can be challenging, given the numerous options available. In this review, we have highlighted the key features of the top trading platforms in Singapore, which are summarized below:

Best Trading Platforms in Singapore
#1 Interactive Brokers Best overall
#2 Saxo Bank Best for powerful trading tools
#3 Pepperstone Best for MT4 and MT5
#4 Plus500  Ideal for CFDs

To discover the most suitable broker for your needs, our “Help Me Choose” tool is at your disposal. Additionally, you can refer to our comprehensive comparison table, which offers an in-depth analysis of the essential features provided by different global brokers. Additionally, you can check our reviews for an in-depth analysis of each broker and its platform 

Whether you are a new investor or a seasoned professional, we hope this article helped answer a few of your concerns. When choosing a trading platform, we recommend opening a demo account and testing the features before making the final decision.

Other FAQs

Is online trading legal in Singapore?

Yes, online trading is legal in Singapore, and the Monetary Authority of Singapore supervises the financial markets. 

What is the minimum balance to start trading in Singapore?

Many brokers do not have any minimum balance requirement, so you can start trading with as low as $1.

Is Robinhood available in Singapore?

Unfortunately, Robinhood is not yet available in Singapore. However, you can check our list of Robinhood alternatives in Singapore for more info.

Can I trade options in Singapore?

Yes, you can trade options in Singapore. You can check our article on the best options brokers in Singapore, which provides an in-depth comparison and analysis of various options brokers.

Can I trade multiple asset classes on trading platforms in Singapore?

Yes, many trading platforms in Singapore offer access to multiple asset classes, including stocks, bonds, commodities, and Forex.

Can I use demo accounts on trading platforms in Singapore to practice trading before investing real money?

Yes, many trading platforms offer demo accounts that allow you to practice trading strategies and familiarize yourself with the platform without risking real money. All the trading platforms mentioned in this article offer demo accounts.

Toni Nasr, CFA, FRM
Fintech Analyst

Toni is a Fintech Analyst with over 8 years of experience in the financial industry where he worked as a financial control analyst at a regional bank and later conducted independent investment research analysis.

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