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Best Futures Brokers in Singapore (2024)

Ivo Kolchev| Updated January 24th, 2024

Futures trading is an increasingly popular investment option among Singaporeans looking to invest in the future prices of commodities, currencies, and other financial instruments. However, finding the best online investment platform to trade on can be quite challenging.

That’s where we come in. We’ll compare the best futures brokers’ fees, features, and trading platforms, providing you with the essential information you need to choose the one that best suits your requirements.

Whether you’re an experienced trader or starting out, you’ll find everything you need to know here. So, read on to discover the top futures brokers in Singapore.

The Best Futures Brokers in Singapore

  1. Interactive Brokers: Best overall futures broker with its iconic Trader Workstation platform.
  2. Saxo Bank: Best for a wide-ranging futures offering through its in-depth SaxoTraderGO platform.
  3. Tiger Brokers: Best for sign-up bonuses through its innovative Tiger Trade platform.
Best Futures Brokers in Singapore (2024) 1

#1 Best overall futures broker

Min. deposit of $0
Interest on uninvested cash balances, including for SGD
Founded in 1978 and listed on NASDAQ
View BrokerBest Futures Brokers in Singapore (2024) 2Read review
Interactive Brokers summary
Trader Workstation is the flagship desktop platform of Interactive Brokers (IBKR), a leading online broker that offers a comprehensive range of futures trading products globally with access to over 35 market centres.
CommissionFrom $0.10 (Depending on exchange and account type)RegulatorsFINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS, and MNB
Futures offeringAgriculture, Currency, Energy, Equity Index, Fixed Income, Metals, and Volatility FuturesInterest on uninvested cashSGD: 2.828%; USD: 4.83%; EUR: 3.421% (as of November 2023)
SGD available as base currencyNo
Saxo-logo

#2 Best futures platform for a wide-ranging futures offering

Min. deposit of S$3,000
Interest on uninvested cash balances, but not for SGD
Excellent reputation (founded in 1992)
View BrokerBest Futures Brokers in Singapore (2024) 2Read review
SaxoTraderGo summary
SaxoTraderGo is the most popular trading platform of Saxo Bank, offering access to over 250 futures from 25 global exchanges.
CommissionFrom $1.25 per contract (Depending on exchange and account type)RegulatorsASIC, FSA, FCA, SFC, MAS, FINMA, DFSA
Futures offeringMetals, Energy, Power/Electricity, Grains, Meats & Dairy, Softs, Equity Indices, Currencies, Bonds, and STIR (short-term interest rate) futuresInterest on uninvested cashUSD: Up to 4.059%; EUR: Up to 2.65%; GBP: Up to 3.93% (as of January 2024)
SGD available as base currencyYes

62% of retail CFD accounts lose money.

tiger brokers logo

#3 Best for sign-up bonuses

Min. deposit of S$0
Interest on uninvested cash, including for SGD
Founded in 2014 and listed on NASDAQ
View BrokerBest Futures Brokers in Singapore (2024) 2Read review
Tiger Brokers summary
Tiger Trade, available for desktop and mobile, is Tiger Brokers’ futures trading platform, offering access to a myriad of futures contracts, including index futures on the MSCI Singapore Index.
CommissionFrom $1.37 (Depending on exchange)RegulatorsSEC, FINRA, ASIC, MAS
Futures offeringIndex, Treasury, Metal, Energy, Forex, Agriculture, Equity, and Digital Asset FuturesInterest on uninvested cashUp to 5.0% in USD and SGD (depending on money market conditions)
SGD available as base currencyYes

Brokers Comparison

Before we delve into the specific capabilities offered by each of the trading platforms, let’s compare how the three brokers stack up:

Broker Minimum Deposit Futures offering Futures commission, US SGD available as base currency
Interactive Brokers $0 Agriculture, Currency, Energy, Equity Index, Fixed Income, Metals, and Volatility Futures. As low as USD 0.1 per contract (depending on the exchange and account type) No
Saxo Bank S$3,000 Metals, Energy, Power/ElectricityGrains, Meats & Dairy, Softs, Equity Indices, Currencies, Bonds, and STIR (short-term interest rate) futures. From USD 1.25 per contract (depending on exchange and account type) Yes
Tiger Brokers $0 Index, Treasury, Metal, Energy, Forex, Agriculture, Equity, and Digital Asset Futures  As low as USD 1.37 per contract (depending on exchange)   Yes

Interactive Brokers (IBKR) is a great option for retail investors interested in optimising their trading commissions. It is ideal for beginners or professionals looking for a large number of instruments and a secure broker. 

On the downside, if you are new to investing, the platform may be a bit complicated with too many buttons and features.

You can check IBKR’s dedicated futures website for more information on the broker’s futures offering.

Saxo Bank has a product offering similar to IBKR, albeit with slightly higher commissions. SaxoTraderGO’s functionalities arguably make it more suited to sophisticated investors who can take full advantage of the platform’s functionalities. 

Saxo Bank also has a dedicated website detailing the broker’s futures offering.

Tiger Brokers boasts a comprehensive futures offering, especially for the Asia-Pacific region, the broker’s home market. You can check the company’s website to explore the full range of futures contracts available to trade. As the company is in growth mode, it has a very attractive reward offering for new clients, helping it stand out against more established brokers.

#1 Interactive Brokers - Trader Workstation

Best Futures Brokers in Singapore (2024) 5
View BrokerBest Futures Brokers in Singapore (2024) 2

Interactive Brokers at a glance

Desktop, web, and mobile versions
Free software (no fees to use it)
Customisable and user-friendly platform
Education, news, and analysis
Free Demo Account

Trader Workstation (TWS), the proprietary trading platform of Interactive Brokers, is one of the most innovative trading platforms developed by a brokerage firm. It includes two subsets: the “TWS Mosaic”, which displays a fully customisable workspace, and the “Classic TWS”, where you can find more complex/advanced tools for more experienced traders.  

You get comprehensive order management, technical charts, watchlists, and other portfolio tools in a single view. You can organise your trading activity by asset classes and, at the same time, keep up to date with relevant market news impacting the markets. TWS offers powerful trading tools like ComboTrader, which helps traders create proprietary combination order strategies or choose from multiple templates with predefined programs to execute futures trades.

Interactive Brokers also offers a web-based alternative called “Client Portal”, a “light” version of TWS, which lets you keep track of your portfolio performance and other essential features with few constraints. The same goes for its mobile app, which lets you check every piece of information on the go.

IBKR offers competitive pricing starting at $0.1 per contract, among the lowest on the market. Although the pricing structure is a bit complex, it is important to note that IBKR has no added spreads, ticket charges, platform fees, or account minimums, making it a great option for traders looking to minimise their costs. However, the fee you pay will depend on your monthly traded volume. You can learn more about the pricing structure on IBKR’s dedicated futures pricing page here.

Below we present a table with a small selection of futures contracts available on IBKR and their respective commissions:

Market Contract Commission per Contract in USD (Minimum USD 1.00)
United States E-micro Futures USD 0.10 to USD 0.25 
Canada S&P/TSX 60 Futures CAD 0.30 to CAD 2.40
Australia Mini SPI Futures  AUD 0.20 to AUD 1.00
Germany Mini DAX Futures EUR 0.28 to EUR 0.80
Bitcoin Bitcoin Futures USD 5.00
Commodities Commodities Futures USD 0.25 to USD 1.05
Stocks Stocks Futures USD 0.25 to USD 0.85 (depending on exchange)
E-Micro FX E-Micro FX Futures USD 0.05 to USD 0.15

View from Interactive Brokers Web Trader

#2 SaxoTraderGO

Saxo-logo
View BrokerBest Futures Brokers in Singapore (2024) 2

62% of retail CFD accounts lose money.

SaxoTraderGO at a glance

Desktop, web, and mobile versions
Free software (no fees to use it)
Customisable and user-friendly platform
Education, news, and analysis
Free Demo Account

Features three platforms for trading: SaxoInvestor, SaxoTraderGO, and SaxoTraderPRO. Assuming that most people visiting this page have average knowledge of financial markets, we will focus on the middle one: SaxoTraderGO, which, by the way, is the most popular consumer-facing trading platform of the broker.

SaxoTraderGO is an award-winning web-based platform with crucial features: fundamental and technical analysis tools, an extensive charting package, performance analysis, a comprehensive account overview, and a user-friendly interface.

When you trade futures, you will have access to a comprehensive all-in-one screen where you can manage your investments from a wide range of asset classes, currencies, and countries. Saxo Bank has a dedicated futures trading page available here.

The fee on futures contracts will depend on your monthly traded volume. You can learn more about the pricing structure on Saxo Bank’s dedicated futures pricing page here

Below, we present a table with a small selection of currency futures contracts available on SaxoTraderGO and their respective commissions, ranging from Classic from the lowest traded volume to Platinum and VIP for investors trading high volumes:

Contract / Currency Bronze Silver Gold Platinum Diamond
AUD AUD 10.00 (Min. AUD 12.50) AUD 10.00 (Min. AUD 12.50) AUD 10.00 (Min. AUD 12.50) AUD 5.00 (Min. AUD 12.50) AUD 1.00 (Min. AUD 0)
US USD 6.00 (Min. USD 0) USD 4.50 (Min. USD 0) USD 3.00 (Min. USD 0) USD 2.00 (Min. USD 0) USD 1.25 (Min. USD 0)
CAD CAD 6.00 (Min. CAD 10.00) CAD 6.00 (Min. CAD 10.00) CAD 6.00 (Min. CAD 10.00) CAD 3.00 (Min. CAD 10.00) CAD 1.00 (Min. CAD 0)
EUR EUR 6.00 (Min. EUR 10.00)  EUR 6.00 (Min. EUR 10.00) EUR 6.00 (Min. EUR 10.00) EUR 3.00 (Min. EUR 10.00) EUR 1.00 (Min. EUR 0)
GBP GBP 5.00 (Min. GBP 8.00)  GBP 5.00 (Min. GBP 8.00)  GBP 5.00 (Min. GBP 8.00)  GBP 2.50 (Min. GBP 8.00)  GBP 1.00 (Min. GBP 0) 

These commissions are for each contract and each trade (buy or sell) through SaxoTraderGo and exclude exchange fees.

Saxo Markets offers advanced tools for trading futures contracts. With the Futures Spread Trading feature, you can place orders to buy and sell multiple contracts simultaneously. The Depth Trader feature lets you see all the buy and sell orders waiting to be executed so that you can manage your trades more effectively. 

You can also monitor real-time futures prices and trade directly from the exchange with the Time and Sales feature. Saxo Markets provides 24-hour support and educational resources for all types of traders. VIP traders can receive priority support and exclusive invitations to events.

View from SaxoTraderGO

#3 Tiger Trade

tiger brokers logo
View BrokerBest Futures Brokers in Singapore (2024) 2

Tiger Trade at a glance

Desktop, web, and mobile versions
Free software (no fees to use it)
Customisable and user-friendly platform
Education, news, and analysis
Local Market Access

Tiger Trade is Tiger Brokers’ flagship futures trading platform. The platform offers a desktop and mobile version, covering the whole spectrum of your trading needs – from a quick way to check the latest news to a customizable interface to help your in-depth analysis. 

Tiger Vault allows you to earn money on any uninvested cash – an excellent choice for conservative investors or in bear markets. What’s more, you can keep the cash in several currencies, including the Singapore dollar. You can read more here.

The platform’s futures offering is quite comprehensive, with a detailed breakdown of fees due for each futures contract variety available here. The total fee you end up paying is a sum of the broker’s commission, a platform fee, an exchange fee, and a regulatory fee. The exact amount varies widely but is set as low as 1.37 USD for some of the most popular contracts.

To help you get acquainted with Tiger Trade and the mechanics driving financial markets, Tiger Brokers has developed a free e-learning section available here. Last but not least, make sure to consider the broker’s exclusive offering to Singaporeans!

Tigers Brokers stands out with its bonus offering

The bottom line

To sum it up, here’s a brief overview of our findings:

Best Futures Brokers in Singapore

#1 Interactive BrokersBest Overall
#2 Saxo BankBest for a wide-ranging futures offering
#3 Tiger BrokersBest for sign-up bonuses

With our comparison complete, here is what you need to do to get started on trading futures:

  1. Find a suitable broker.  Make sure the broker works with residents of Singapore. Consider the fees and market access of the broker if you are interested in trading niche futures contracts.
  2. Open an account and deposit money: After deciding which broker’s trading platform to use, you must go through the account opening process and deposit money.
  3. You can now trade futures in Singapore: Having considered the pros and cons of each broker, and after going through the account opening process, you can take advantage of the endless possibilities offered by the futures market!

We hope that this post addressed some of your concerns. Do your research to find the best investing strategy for you!

Happy investing!

Ivo Kolchev
Investor & Finance Writer

Ivo is a former portfolio manager and financial advisor, turned into a freelance finance writer and stock trader. He enjoys following the financial markets and have invested for over ten years.

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