Best Trading Platforms in Singapore (2023)

Best trading platforms in Singapore reviewed

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.

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.

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.

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.

Building upon the reputable brand of TD Ameritrade, TD Ameritrade Singapore offers a comprehensive suite of investment options catering to active traders seeking commission-free trading for stocks, ETFs, and futures while paying only $0.70 per contract fee for stock options.

One of the standout features of TD Ameritrade Singapore is its advanced trading platform, thinkorswim which offers cutting-edge tools and features. Its user-friendly interface and extensive functionality also make it ideal for beginners and experienced traders. The platform is available on desktop, web, and mobile devices. It provides real-time market data, advanced charting capabilities, customizable watchlists, and a wide range of technical analysis tools.

For professional traders, the thinkorswim desktop platform provides advanced tools that facilitate in-depth analysis, strategy testing, and risk/reward monitoring. For instance, features like Stock Hacker, Option Hacker, and Spread Hacker give you the flexibility to select from numerous predefined scans or customize your own, enabling you to identify potential trading opportunities that align with your specific criteria. Additionally, TD Ameritrade Singapore provides exceptional customer support, ensuring you can easily connect with their dedicated team through various channels, including live chat, email, phone calls, or even in-person appointments.

On the downside, TD Ameritrade Singapore does not provide access to some major asset classes, including Forex, cryptocurrencies, bonds, and mutual funds.

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.

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.

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. 82% 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.