As one of Asia’s leading financial centres, Singapore offers retail investors a sophisticated, well-regulated environment for options trading. The market has matured significantly: a growing number of brokers regulated by the Monetary Authority of Singapore (MAS) now offer competitive options trading, and fee competition has intensified, with several platforms offering low or even promotional zero-commission options trades.
One important characteristic to understand upfront: options trading for Singapore residents is predominantly focused on US markets (the deep, liquid options markets on the NYSE, NASDAQ, and CBOE), rather than on the Singapore Exchange (SGX), where listed equity options are far less liquid. This means Singapore-based options traders are typically trading US-listed options during US market hours – roughly 9:30 PM to 4:00 AM Singapore time during US daylight saving (around April to September), and an hour later otherwise.
When choosing an options broker in Singapore, two things matter above all: regulation and cost structure (commission per contract, platform fees, and FX conversion costs, since you’ll likely fund in SGD and trade USD-denominated options). On regulation, it’s worth understanding that Singapore options traders effectively have two categories of broker to choose from:
- MAS-regulated brokers with a local Singapore entity (such as Interactive Brokers Singapore and Saxo Markets Singapore). These are directly licensed by the Monetary Authority of Singapore (MAS), which sets capital requirements, operational standards, and local retail investor protections.
- US-based brokers that accept Singapore residents cross-border (such as tastytrade and Firstrade). These are not MAS-regulated, but operate under US regulation (SEC, FINRA) with SIPC protection up to USD 500,000 (USD 250,000 for cash) – a higher headline protection figure than most local schemes, though governed by US rather than Singapore law.
Both categories are legitimate, but the distinction matters: with a MAS-regulated broker your relationship is governed by Singapore law and you have recourse through local channels, whereas with a US-based broker you’re a cross-border client under US rules. We cover the strongest options in both categories below. Let’s get to it.
The best options brokers in Singapore
Interactive Brokers: Best overall
With a history spanning more than 40 years, IBKR remains one of the most trustworthy brokers available and is unofficially the globe’s default broker, including Singapore. For options, there is a per-contract fee starting from USD 0.15 per contract.
Saxo: Best for research
While a Danish online broker, Saxo Bank has prepared an incredible offering for residents of Singapore inclusive of listed options, forex options, commodities, futures, and more. The fees on US stock options start from $0.75 per contract.
tastytrade: Best for social trading
Tastytrade, formerly known as Tastyworks, stands out as an up-and-coming options broker focusing on the retail trader who truly wants to hone their craft. They provide options trading in addition to futures, stocks, indices, ETFs, and cryptocurrencies while keeping to USD 1 per options contract (0 to close).
Firstrade: Best for low fees
Firstrade is a US-based online broker disrupting the field of international options trading with commissions as low as free. It also offers stocks, bonds, ETFs, mutual funds, and cryptocurrencies, but does fall short when it comes to research material.
| Options Broker | Commission per Contract | Best for |
| IBKR | Up to $0.65 | All |
| Saxo Bank | Up to $2 | Research |
| Tastytrade | $1 | Social trading |
| Firstrade | Free | Low fees |
#1 Interactive Brokers Singapore
IB at a glance
Interactive Brokers (IBKR) operates in Singapore through Interactive Brokers Singapore Pte. Ltd., which is licensed and regulated by the Monetary Authority of Singapore (MAS) (Licence No. CMS101000). As a subsidiary of the NASDAQ-listed IBKR (founded 1978), it brings world-leading global market access, deep liquidity, and rigorous risk management to Singapore-based options traders – earning it the top spot on our list.
IBKR’s biggest advantage for options traders is access to all major US options exchanges (CBOE, NYSE, NASDAQ) – the deep, liquid markets where Singapore options trading is concentrated – alongside stocks, ETFs, futures, bonds, and forex across 150+ markets in 33 countries. It serves both beginners and professionals through a layered platform ecosystem.
Options pricing (among the most competitive available to Singapore traders):
- US options: from USD 0.15 to USD 0.65 per contract depending on premium and pricing tier (Tiered pricing rewards higher-volume traders with lower rates).
- SGX options: SGD 5.00 per contract.
- No account opening fees and no custody fees. Note: IBKR applies a minimum monthly activity requirement (around USD 10 in commissions) on some account types, so very infrequent traders should factor this in.
- Low FX conversion (0.03%) – particularly valuable for Singapore traders funding in SGD and trading USD-denominated options.
Platforms: for beginners, IBKR GlobalTrader offers a simplified mobile experience for trading stocks and options globally, with US options at a flat USD 0.10 per contract (plus exchange and regulatory fees). For active and professional options traders, Trader Workstation (TWS) provides institutional-grade tools, including OptionTrader, Probability Lab, and Risk Navigator for building and managing multi-leg options strategies.
Interested? Read our comprehensive IBKR review.
#2 Saxo
Saxo Bank at a glance
62% of retail CFD accounts lose money.
Our runner-up, Saxo (formerly Saxo Bank) is a deeply research-oriented, multi-asset broker with a track record spanning over three decades. Saxo Markets Singapore is licensed and regulated by the Monetary Authority of Singapore (MAS) as a Capital Markets Services (CMS) licence holder, with client funds segregated and held on trust with HSBC. It caters to all experience levels, but its premium design, depth of research, and broad product range make it especially well-suited to intermediate and advanced options traders.
Saxo offers one of the widest product ranges of any broker in Singapore – 23,000+ stocks, 7,000+ ETFs, plus bonds, mutual funds, futures, forex, CFDs, and listed options across 50+ global exchanges, including the main US options markets (CBOE, NYSE, NASDAQ) that matter most for Singapore options traders.
Platforms: Saxo consolidated its trading platforms in 2025. SaxoTrader is now the unified, award-winning web and mobile platform, scaling from beginner-friendly to professional use with advanced charting, options chains, and multi-leg strategy tools. SaxoInvestor is the simpler companion platform for long-term, buy-and-hold investors.
Account tiers and pricing: Saxo offers three account tiers, differentiated mainly by minimum funding and the fee discounts they unlock:
- Classic – no minimum funding; standard pricing.
- Platinum – SGD 300,000 minimum; lower commissions and tighter spreads.
- VIP – SGD 1,500,000 minimum; the lowest rates, priority support, and interest on uninvested cash.
US options pricing starts around USD 1 per contract on the entry-level tier, decreasing for higher-tier and higher-volume traders. Saxo charges no platform fees, and there’s no custody fee if you opt into securities lending. Worth noting: options pricing at Saxo is competitive but generally higher than IBKR’s, and uninvested cash earns interest only on the VIP tier – so cost-sensitive, lower-balance options traders may find IBKR more economical.
Interested? Read our comprehensive Saxo review.
#3 tastytrade
tastytrade at a glance
Based in the US, tastytrade (formerly tastyworks) is an options-focused broker built specifically for active, “do-it-yourself” options traders. It offers stocks, options, futures, and crypto, and its platform was created by the team behind TD Ameritrade’s thinkorswim – which shows in its options-centric design, with some of the best risk-visualisation and strategy-building tools in the industry. tastytrade was named #1 for Options Trading in StockBrokers.com’s 2026 Annual Awards.
Important for Singapore traders: tastytrade is not MAS-regulated, but it does accept Singapore residents as cross-border clients. It operates under US regulation (SEC, FINRA, NFA) with SIPC protection up to USD 500,000 (USD 250,000 cash), plus excess SIPC insurance through its clearing firm. Non-US clients receive the same SIPC protection as US residents. The trade-off versus a MAS-licensed broker: your account is governed by US law, and the platform operates entirely in USD, so you’ll incur FX conversion costs funding from SGD.
Options pricing is among the most competitive available: USD 1 per contract to open, capped at USD 10 per leg, and free to close. Stocks and ETFs trade commission-free, and there are no account minimums, deposit fees, or inactivity fees. This capped-per-leg structure makes tastytrade especially cost-effective for traders running large or multi-leg options positions.
There’s a learning curve – beginners should understand the basics of the options Greeks (delta, gamma, theta, vega) before diving in – but tastytrade backs this up with strong educational content, including live programming and research tools. It’s competitive on cost and purpose-built for options, though it lacks the broad multi-asset range and global market access of IBKR or Saxo.
#4 Firstrade
Firstrade at a glance
A US-based online broker and disruptor challenging incumbent options brokers with a no-frills design that gets straight to the point, Firstrade offers options trading at $0 per contract (no commission), alongside stocks, ETFs, bonds, mutual funds, crypto, and extended-hours trading. For cost-focused options traders, that zero per-contract pricing is one of the most aggressive structures available anywhere.
Important for Singapore traders: Firstrade is not MAS-regulated, but it accepts Singapore residents as cross-border clients. It operates under US regulation (SEC, FINRA) with SIPC protection up to USD 500,000 (USD 250,000 cash). As with tastytrade, your account is governed by US law rather than Singapore’s local framework.
Firstrade’s research leaves a lot to be desired, as it relies largely on Morningstar reports without adding much of its own forecasting. However, it does have an impressive Options Wizard that incorporates more than 65 technical indicators and various profit-and-loss simulations.
The main limitation for Singapore users: Firstrade operates solely in USD, so funding from SGD incurs FX conversion costs, and it lacks the SGD support, premium add-ons, and broader trading tools of the MAS-licensed brokers above. For traders who want the lowest possible options commissions and are comfortable with a US-regulated, USD-only account, it’s a strong low-cost choice – but those who prefer SGD support, local MAS regulation, or richer research should look elsewhere.
What makes a good broker for options trading in Singapore?
The best options brokers in Singapore operate in a market shaped by global standards, with US markets setting the benchmark as the world’s most active options marketplace. To identify the genuinely best options brokers for Singapore-based traders, we evaluate each platform across seven key criteria:
- Regulation and investor protection – the strongest option is a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS), which ensures local capital requirements, operational standards, and retail safeguards. Some US-based brokers accept Singapore residents cross-border instead; these aren’t MAS-regulated but offer SIPC protection (up to USD 500,000) under US law. Either can work – just be clear which framework applies to your account.
- Competitive and transparent pricing – low per-contract commissions, clear platform fees, and no hidden costs. Fee competition among Singapore brokers has intensified, with some offering promotional zero-commission options trades.
- Access to US options markets – since options trading in Singapore is predominantly US-focused, access to the main US options exchanges (CBOE, NYSE, NASDAQ) with deep liquidity is essential.
- Low FX conversion costs – because you’ll fund your account in SGD but trade USD-denominated options, currency conversion fees can meaningfully affect your overall cost. Multi-currency account support is a plus.
- Advanced options trading tools – multi-leg strategy builders, options chains, Greeks analytics, probability calculators, and risk management features for executing and managing options strategies.
- Reliable platforms and execution – stable web, desktop, and mobile platforms with fast, reliable order routing and real-time data, particularly important when trading US options during Singapore’s overnight hours.
- Quality research and education – options-specific tutorials, strategy guides, market commentary, and alerts to help traders learn and stay informed.
Not every options broker available in Singapore meets all seven criteria – but the ones that do consistently earn their place on this list.
Note: Options trading in Singapore is overwhelmingly focused on US-listed options. While the Singapore Exchange (SGX) lists some derivatives, SGX equity options have limited liquidity, so most Singapore-based options traders access the deep, liquid US options markets (CBOE, NYSE, NASDAQ) through their broker instead. Keep in mind this means trading during US market hours – roughly 9:30 PM to 4:00 AM Singapore time.
Bottom line
Options trading in Singapore is robust and competitive in 2026, with both MAS-regulated local brokers and US-based platforms accepting Singapore residents, all at increasingly low fees. As retail interest continues to grow, choosing the right options broker comes down to your priorities – regulation, cost, platform sophistication, and whether you need SGD support.
Each of our recommended brokers excels in a different area. As a quick recap:
- Interactive Brokers Singapore – the top all-round choice. MAS-regulated, with the deepest global market access, competitive US options pricing (from USD 0.15-0.65 per contract), the lowest FX fees (0.03%), and professional-grade tools through TWS.
- Saxo – the strongest runner-up for intermediate-to-advanced traders. MAS-regulated, with an exceptional multi-asset range and the unified SaxoTrader platform, though options pricing runs higher than IBKR’s.
- tastytrade – the specialist’s choice for options-focused traders. US-regulated (not MAS) but accepts Singapore residents, with SIPC protection, best-in-class options tools, and capped pricing (USD 1 per contract, capped at USD 10 per leg, free to close).
- Firstrade – the lowest-cost option. US-regulated (not MAS) but accepts Singapore residents, with $0 options commissions and SIPC protection, though it’s USD-only with limited research.
The key decision for Singapore traders is the regulatory trade-off: MAS-regulated brokers (IBKR, Saxo) give you local oversight and SGD support, while US-based brokers (tastytrade, Firstrade) offer rock-bottom options pricing and SIPC protection but operate under US law in USD. Active US options traders who prioritise cost may lean toward tastytrade or Firstrade; those who value local regulation, multi-currency support, and broader market access will prefer IBKR or Saxo.
Need a personalised recommendation? Try our BrokerMatch tool to find the right options broker for your specific needs.
FAQs
Can you buy options in Singapore?
Absolutely! Singapore is one of the world’s leading economies and financial centres. However, options brokers are generally limited to following US-based stocks.
What is an options broker?
Usually related to “full-service brokers” that try to provide all the necessary tools for an intermediate or professional trader, an options broker is an online intermediary between you and the exchanges that enables the trading of options. The best options brokers in Singapore offer stock options, futures, and options on futures. Most US-based options brokers like Robinhood do not work in Singapore.
How do you open an options trading account?
While the process changes per options broker, it remains relatively straightforward. Simply be ready to provide digital copies of official IDs (i.e., passport, driving license, etc.) and proof of address, and transfer an opening sum through ACH or wire, for example. The options broker, like IBKR, may want to verify your age as well.
How do you buy options?
Thanks to advances in web and mobile trading platforms, trading options remains largely intuitive. Almost all mobile apps guide you through the purchase (opening) process and the selling (closing) process. Web platforms may have a learning curve and require an introductory tutorial. This is the case for some users who use IBKR, for example.
However, we recommend at least a beginner options course to walk you through calls, puts, strategies, opening, closing, and margin trading.
What are the risks of buying, trading, and selling options?
Since options trading almost always includes the use of margin or borrowed funds, the risks generally are much greater than trading stocks or commodities with only the cash you own. This is referred to as leverage. Again, we recommend completing a basic course in options trading, which is almost always provided by brokers serving Singapore.
