Forex Trading Singapore 2025

Compare forex trading platforms, brokers, and currency exchange services in Singapore. Find competitive spreads, leverage options, and trading tools from MAS-regulated providers.

24/7 Trading

From 1.2 Pips

MAS Regulated

Singapore Forex Market Overview

Global Financial Hub

• 4th largest forex trading center globally
• Daily turnover of $633 billion (2022)
• Strategic timezone bridging Asia-Europe
• Strong regulatory framework under MAS

SGD Trading

• SGD is 13th most traded currency
• Strong against regional currencies
• Managed float exchange rate system
• Low inflation and stable economy

Trading Hours

• Asian session: 6:00 AM - 4:00 PM SGT
• European session: 3:00 PM - 12:00 AM SGT
• US session: 9:30 PM - 6:00 AM SGT
• Overlaps provide highest liquidity

Compare Forex Providers in Singapore

Provider	USD/SGD Spread	EUR/SGD Spread	Min Trade Size	Leverage	Commission
DBS Treasures Bank • MAS Singapore	3 pips	4 pips	$10,000	1:20	0.25%
OCBC FX Trading Bank • MAS Singapore	2.5 pips	3.5 pips	$5,000	1:20	0.20%
UOB ForeignExchange Bank • MAS Singapore	3.5 pips	4.5 pips	$10,000	1:20	0.30%
HSBC FX Center Bank • MAS Singapore	2 pips	3 pips	$25,000	1:20	0.15%
Standard Chartered FX Bank • MAS Singapore	2.8 pips	3.8 pips	$15,000	1:20	0.25%
Saxo Capital Markets Broker • MAS Singapore	1.5 pips	2 pips	$1,000	1:200	Commission-free
IG Singapore Broker • MAS Singapore	1.2 pips	1.8 pips	$1,000	1:200	Commission-free
OANDA Asia Pacific Broker • MAS Singapore	1.8 pips	2.2 pips	$1	1:50	Commission-free
City Index Broker • MAS Singapore	1.4 pips	1.9 pips	$1,000	1:200	Commission-free
Phillip Securities Broker • MAS Singapore	2 pips	2.5 pips	$5,000	1:100	0.10%

Detailed Provider Comparison

DBS Treasures

Bank • Regulated by MAS Singapore

Best Spread

3 pips

Trading Conditions

Min Trade:$10,000

Leverage:1:20

Commission:0.25%

Trading Platforms

• DBS Online Banking
• Phone dealing

Key Features

• 24/7 trading
• Phone dealing
• Online platform
• Research reports

OCBC FX Trading

Bank • Regulated by MAS Singapore

Best Spread

2.5 pips

Trading Conditions

Min Trade:$5,000

Leverage:1:20

Commission:0.20%

Trading Platforms

• OCBC Digital
• Mobile app

Key Features

• Real-time rates
• Mobile trading
• Market analysis
• Risk management

UOB ForeignExchange

Bank • Regulated by MAS Singapore

Best Spread

3.5 pips

Trading Conditions

Min Trade:$10,000

Leverage:1:20

Commission:0.30%

Trading Platforms

• UOB Mighty
• Phone dealing

Key Features

• Dedicated dealer
• Advisory services
• Currency hedging
• Forward contracts

HSBC FX Center

Bank • Regulated by MAS Singapore

Best Spread

2 pips

Trading Conditions

Min Trade:$25,000

Leverage:1:20

Commission:0.15%

Trading Platforms

• HSBC Online
• HSBCnet

Key Features

• Premier service
• Global rates
• Risk analytics
• Professional advice

Standard Chartered FX

Bank • Regulated by MAS Singapore

Best Spread

2.8 pips

Trading Conditions

Min Trade:$15,000

Leverage:1:20

Commission:0.25%

Trading Platforms

• SC Mobile
• Online banking

Key Features

• Priority banking
• Market insights
• Currency tools
• Hedging solutions

Saxo Capital Markets

Broker • Regulated by MAS Singapore

Best Spread

1.5 pips

Trading Conditions

Min Trade:$1,000

Leverage:1:200

Commission:Commission-free

Trading Platforms

• SaxoTraderGO
• SaxoTraderPRO

Key Features

• Professional platform
• Advanced charting
• News feed
• Expert advisors

IG Singapore

Broker • Regulated by MAS Singapore

Best Spread

1.2 pips

Trading Conditions

Min Trade:$1,000

Leverage:1:200

Commission:Commission-free

Trading Platforms

• IG Trading platform
• Mobile app

Key Features

• Tight spreads
• Mobile trading
• Educational resources
• Demo account

OANDA Asia Pacific

Broker • Regulated by MAS Singapore

Best Spread

1.8 pips

Trading Conditions

Min Trade:$1

Leverage:1:50

Commission:Commission-free

Trading Platforms

• OANDA Trade
• MT4
• API

Key Features

• Fractional units
• Historical data
• API access
• Advanced orders

City Index

Broker • Regulated by MAS Singapore

Best Spread

1.4 pips

Trading Conditions

Min Trade:$1,000

Leverage:1:200

Commission:Commission-free

Trading Platforms

• City Index platform
• Mobile app

Key Features

• Spread betting
• CFD trading
• Research tools
• Mobile alerts

Phillip Securities

Broker • Regulated by MAS Singapore

Best Spread

2 pips

Trading Conditions

Min Trade:$5,000

Leverage:1:100

Commission:0.10%

Trading Platforms

• POEMS platform
• Mobile trading

Key Features

• Local support
• Research reports
• Portfolio management
• Risk tools

Major SGD Currency Pairs

USD/SGD

US Dollar vs Singapore Dollar

Daily Volume:$45 billion

Typical Spread:1.2-3.0 pips

EUR/SGD

Euro vs Singapore Dollar

Daily Volume:$12 billion

Typical Spread:1.8-4.0 pips

GBP/SGD

British Pound vs Singapore Dollar

Daily Volume:$8 billion

Typical Spread:2.5-5.0 pips

JPY/SGD

Japanese Yen vs Singapore Dollar

Daily Volume:$6 billion

Typical Spread:2.0-4.5 pips

AUD/SGD

Australian Dollar vs Singapore Dollar

Daily Volume:$4 billion

Typical Spread:2.8-5.5 pips

CHF/SGD

Swiss Franc vs Singapore Dollar

Daily Volume:$2 billion

Typical Spread:3.0-6.0 pips

Forex Trading Strategies

Carry Trade

Medium Risk

Profit from interest rate differentials between currencies

Time Horizon: Long-term (3-12 months)

Example: Borrow low-yield JPY to buy high-yield SGD

Pros:

• Earn daily interest
• Long-term trend following
• Lower transaction costs

Cons:

• Currency risk
• Interest rate changes
• Requires large capital

Scalping

High Risk

Quick trades capturing small price movements

Time Horizon: Very short (seconds to minutes)

Example: Buy USD/SGD at 1.3500, sell at 1.3505

Pros:

• Quick profits
• Limited exposure time
• Many opportunities

Cons:

• High transaction costs
• Requires constant monitoring
• Stressful

Swing Trading

Medium Risk

Hold positions for days to weeks

Time Horizon: Medium-term (2-10 days)

Example: Trade USD/SGD based on weekly support/resistance

Pros:

• Less time intensive
• Capture larger moves
• Technical analysis focused

Cons:

• Overnight risk
• Requires patience
• Market gaps

News Trading

High Risk

Trade based on economic announcements

Time Horizon: Short-term (minutes to hours)

Example: Trade SGD on MAS policy announcements

Pros:

• High volatility opportunities
• Predictable timing
• Fundamental based

Cons:

• High risk
• Slippage
• Requires fast execution

Forex Risk Management

High-Risk Investment Warning

Forex trading involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is appropriate for your financial situation.

Position Sizing

Never risk more than 1-2% of your account on a single trade

• Calculate position size based on stop loss
• Use consistent risk per trade
• Avoid overleverage

Stop Loss Orders

Always use stop losses to limit potential losses

• Set stops before entering trades
• Don't move stops against you
• Use technical levels for stops

Diversification

Don't put all your capital in correlated currency pairs

• Trade different currency groups
• Avoid too many SGD pairs
• Consider time diversification

Emotional Control

Keep emotions in check and stick to your trading plan

• Don't revenge trade
• Take breaks after losses
• Keep a trading journal

Leverage Management

Use leverage carefully as it amplifies both gains and losses

• Start with low leverage
• Understand margin requirements
• Monitor margin levels

Market Analysis

Combine technical and fundamental analysis

• Follow economic calendars
• Understand central bank policies
• Monitor global events

Factors Affecting Singapore Dollar

Fundamental Factors

MAS Policy Decisions

Exchange rate policy adjustments affect SGD strength

Economic Growth

GDP growth rates influence investor sentiment

Trade Balance

Singapore's export performance impacts currency demand

Global Risk Sentiment

SGD often acts as a safe haven in regional uncertainty

Oil Prices

As a refining hub, oil prices affect Singapore's economy

Technical Analysis

Support and Resistance

Key price levels where SGD tends to reverse direction

Moving Averages

50-day and 200-day MAs show trend direction

RSI Indicators

Relative Strength Index identifies overbought/oversold conditions

Chart Patterns

Head and shoulders, triangles indicate potential reversals

Volume Analysis

Trading volume confirms price movements and breakouts

Forex Regulation in Singapore

MAS Oversight

• Capital Market Services License required for FX brokers
• Strict segregation of client funds
• Regular audits and compliance checks
• Investor compensation scheme protection
• Anti-money laundering requirements

Investor Protection

• Maximum leverage limits for retail clients
• Negative balance protection
• Clear disclosure of risks and costs
• Cooling-off periods for new accounts
• Professional vs retail client classifications

Getting Started with Forex Trading

Education

Learn forex basics, terminology, and market mechanics

• Read forex guides
• Watch tutorial videos
• Understand currency pairs

Choose Provider

Compare brokers based on spreads, regulation, and features

• Check MAS licensing
• Compare costs
• Test platforms

Demo Trading

Practice with virtual money before risking real capital

• Open demo account
• Test strategies
• Learn platform

Start Small

Begin with small positions and gradually increase exposure

• Fund account
• Start with majors
• Use stop losses

Ready to Start Forex Trading?

Compare forex providers, understand the risks, and start your currency trading journey with proper education and risk management.

Currency Calculators Trading Guides