The 4 best Forex brokers with a $1 minimum deposit in Singapore revealed. We have explored and tested several prominent Forex brokers with a $1 minimum deposit in Singapore to identify the 4 best.
This is a complete guide to the 4 best Forex brokers with a $1 minimum deposit in Singapore.
In this in-depth guide you’ll learn:
- What $1 minimum deposit is
- What are the 4 best Forex brokers with a $1 minimum deposit for traders in Singapore
- How to choose the best Forex brokers with a $1 minimum deposit in Singapore
- How to start trading with a $1 minimum deposit in Singapore
- The advantages of trading with a low minimum deposit
And lots more…
So, if you’re ready to go “all in” with 4 best Forex brokers with a $1 minimum deposit in Singapore…
Let’s dive right in…
- Candice Barnes
10 Best Forex Brokers in Singapore
Rank
Broker
Review
Regulators
Min Deposit
Official Site
What is a $1 minimum deposit?
A $1 minimum deposit requirement in Forex trading refers to the smallest amount of money a trader can fund their account with. This low entry barrier allows individuals to enter the foreign exchange market with minimal financial risk. It caters to beginners and those with limited capital, promoting accessibility and inclusivity.
4 Best Brokers With $1 Minimum Deposit in Singapore – Comparison
| 🔍Broker | 🫴🏻$1 Minimum Deposit Broker | 🚀Open an Account | 📈Maximum Leverage | ✏️Minimum spread |
| 🥇HFM | ✅ Yes | 👉 Click Here | 1:2000 | From 0.0 pips |
| 🥈Admirals | ✅ Yes | 👉 Click Here | 1:200 | from 0.0 pips |
| 🥉OANDA | ✅ Yes | 50:1 | From 0.0 pips | |
| 🏆XTB | ✅ Yes | 👉 Click Here | 30:1 | From 0.5 pips |
HFM
HFM stands out with its unique feature of no minimum deposit requirement. This ensures accessibility for traders with varying capital. HFM provides a user-friendly trading experience through platforms like MetaTrader 4 and 5, catering to diverse preferences.
Overall Rating
- 4.9/5
Min Deposit
0 SGD / 0 USD
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
53
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Singaporean traders benefit from an extensive range of assets, enabling diversified portfolios. With a commitment to inclusivity and flexibility, HFM empowers traders in Singapore to navigate the Forex market without the constraints of a minimum deposit, fostering a dynamic and accessible trading environment for both novice and experienced individuals.
Unique Features
| 🔍Feature | ℹ️ Information |
| ⌛Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 📱Social Media Platforms | Facebook Telegram YouTube |
| 🫴🏻 MAS Regulation? | None |
| 🗂️Trading Accounts | Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account |
| 📊Trading Platform | MetaTrader 4 and MetaTrader 5 |
| 💴Minimum Deposit in SGD | No minimum deposit requirement |
| 🛢️Trading Assets | Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| 🗂️SGD-based Account? | None |
| 🫴🏻 SGD Deposits Allowed? | None |
| 🎁Bonuses for Singaporean traders? | ✅ Yes |
| ✏️Minimum spread | From 0.0 pips |
| 🆓 Demo Account | ✅ Yes |
| ☪️Islamic Account | ✅ Yes |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| With a spread of only 0.9 pips, the EUR/USD currency pair provides Singaporean traders with a very competitive offering. | HFM traders in Singapore are offered limited options for local deposit and withdrawal options. |
Trust score
HFM has a trust score of 85%
Is there a minimum deposit requirement for trading with HFM in Singapore?
No, HFM does not impose a minimum deposit requirement, offering flexibility for traders in Singapore with varying capital to enter the Forex market.
How diverse is the range of assets available for trading with HFM in Singapore?
HFM offers an extensive array of assets, allowing traders in Singapore to create diversified portfolios and explore various investment opportunities.
Admirals
Admirals stand out with its remarkably low $1 minimum deposit requirement, providing an affordable entry point for traders in Singapore. The platform offers competitive spreads, ensuring cost-effective trading.
Admirals support popular trading platforms like MetaTrader 4 and 5, providing a user-friendly experience.
Overall Rating
- 4.9/5
Min Deposit
SGD1.33 or USD1
Regulators
FCA, ASIC, CySEC, EFSA, JSC
Trading Desk
MT4, MT5, Admirals Mobile App
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Traders in Singapore benefit from comprehensive educational resources, empowering them with market insights and strategies. With a commitment to accessibility and education, Admirals caters to both novice and experienced traders in Singapore, fostering a dynamic and inclusive Forex trading environment.
Unique Features
| 🔍Feature | ℹ️ Information |
| ⌛Regulation | FCA, ASIC, CySEC, EFSA, JSC |
| 📱Social Media Platforms | Facebook YouTube |
| 🫴🏻 MAS Regulation? | None |
| 🗂️Trading Accounts | Trade MT5 Account, Invest MT5, Zero MT5, Bets MT5, Trade MT4, Zero MT4 |
| 📊Trading Platform | MetaTrader 4 MetaTrader 5 Admirals Mobile App |
| 💴Minimum Deposit in SGD | SGD1.33 or USD1 |
| 🛢️Trading Assets | ESG Trading Instruments Forex Cryptocurrency CFDs Commodities Indices Stocks ETFs Bonds Spread Betting |
| 🗂️SGD-based Account? | None |
| 🫴🏻 SGD Deposits Allowed? | ✅ Yes |
| 🎁Bonuses for Singaporean traders? | ✅ Yes |
| ✏️Minimum spread | from 0.0 pips |
| 🆓 Demo Account | ✅ Yes |
| ☪️Islamic Account | ✅ Yes |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Trustworthy trading solutions are offered by Admirals, a respected broker, to traders all over the globe. | The 30-day time limit on Admirals’ demo account limits the amount of time traders have to practise and perfect their strategies. |
| Sophisticated trading tools are available on the platform, facilitating traders’ ability to conduct in-depth market analysis and make informed decisions. | Traders in regions where some services are not available owing to jurisdictional constraints may have fewer options to choose from. |
| Thanks to its extensive selection of more than 8,000 financial products, Admirals offers a broad choice of trading possibilities for different investment plans. | Admirals imposes inactivity penalties on traders who do not engage in trading activities for an extended period of time. |
Trust Score
Admirals has a trust score of 88%
What is the minimum deposit requirement for trading with Admirals in Singapore?
Admirals offers a remarkably low minimum deposit requirement of $1, making it accessible for traders with limited capital to enter the Forex market.
What are the trading platforms available with Admirals in Singapore?
Admirals provide access to popular and user-friendly trading platforms, including MetaTrader 4 and 5, ensuring a seamless and efficient trading experience for users in Singapore.
OANDA
Oanda distinguishes itself with a no minimum deposit requirement, making it accessible for traders in Singapore of all levels. This unique feature ensures flexibility and inclusivity in entering the currency markets.
Oanda’s proprietary trading platform, user-friendly and innovative, empowers traders with advanced charting tools, real-time data, and customizable interfaces. The platform caters to diverse trading strategies, providing a seamless experience for both beginners and experienced traders in Singapore.
Overall Rating
- 4.9/5
Min Deposit
0
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA, MAS
Trading Desk
MT4, OANDA Platform, TradingView
Crypto
Yes
Total Pairs
71
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
With Oanda’s commitment to accessibility and cutting-edge technology, it stands as a reliable choice for those seeking a dynamic and user-centric Forex trading environment.
Unique Features
| 🔍Feature | ℹ️ Information |
| ⌛Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA, MAS |
| 📱Social Media Platforms | Facebook YouTube |
| 🫴🏻 MAS Regulation? | ✅ Yes |
| 🗂️Trading Accounts | Standard Account Core Account Swap-Free Account Demo Account |
| 📊Trading Platform | MetaTrader 4 OANDA Platform TradingView |
| 💴Minimum Deposit in SGD | There is no specific minimum deposit required |
| 🛢️Trading Assets | Index CFDs Forex Metals Commodity CFDs Bonds CFDs Precious Metals Real-time Rates |
| 🗂️SGD-based Account? | ✅ Yes |
| 🫴🏻 SGD Deposits Allowed? | ✅ Yes |
| 🎁Bonuses for Singaporean | |
| traders? | ✅ Yes |
| ✏️Minimum spread | From 0.0 pips |
| 🆓 Demo Account | ✅ Yes |
| ☪️Islamic Account | ✅ Yes |
| 🚀Open an Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Many well-known regulators throughout the world have granted licenses to OANDA. | You can’t take use of all the safeguards put in place to prevent negative balances for EU citizens. |
| A wide variety of assets are available for trading for Singaporean traders, including CFDs and FX pairings. | OANDA makes money off of spreads, which makes the pricing schedule more confusing because spread rates are often changing. |
| Since there is no minimum deposit needed to trade on OANDA, users are able to utilize a variety of financial resources. | For international money transfers, you have a few choices, and some of them could be really pricy. |
| OANDA provides a free demo account that can be used forever. | Language barriers and an absence of understanding of local markets lead to localized support gaps. |
Trust Score
Oanda has a trust score of 93%
Does Oanda offer automated trading?
Yes, traders in Singapore can access automated trading tools on the MT5 trading platform from Oanda.
Does Oanda allow for trading of CFDs to traders in Singapore?
Yes, traders can access CFDs on the Oanda platform.
XTB
With a wide selection of trading tools and platforms, XTB has become a trusted name in the industry. XTB offers a safe trading environment for traders in Singapore thanks to its worldwide presence and stringent regulatory supervision.
Traders in Singapore prefer XTB because of its superior trading tools, instructional resources, and responsive customer support.
Overall Rating
- 4.6/5
Min Deposit
USD 250 (776 NGN)
Regulators
FCA, CySEC, IFSC, KNF
Trading Desk
No Trading Desk
Crypto
Yes
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Traders benefit from the reward program and the competitive fee structure. Nevertheless, XTB had room to grow if it broadened its customer base, provided more account kinds, and made it easier to personalise its platform.
It would be advantageous to provide round-the-clock customer service and expand the variety of assets it offers. When looking for a dependable and feature-rich trading platform, XTB is a good pick.
Unique Features
| 🔍Feature | ℹ️ Information |
| ⌛Regulation | FCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, IFSC |
| 📱Social Media Platforms | Facebook YouTube |
| 🫴🏻 MAS Regulation? | None |
| 🗂️Trading Accounts | Standard Account Swap-free Account Islamic Account Professional Account |
| 📊Trading Platform | xStation 5 xStation Mobile |
| 💴Minimum Deposit in SGD | There is no specific minimum deposit required |
| 🛢️Trading Assets | Forex Indices Commodities Stock CFDs ETF CFDs Cryptocurrencies |
| 🗂️SGD-based Account? | None |
| 🫴🏻 SGD Deposits Allowed? | None |
| 🎁Bonuses for Singaporean traders? | ✅ Yes |
| ✏️Minimum spread | From 0.5 pips |
| 🆓 Demo Account | ✅ Yes |
| ☪️Islamic Account | ✅ Yes |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Multiple globally known regulatory authorities oversee XTB, establishing trust in its dependability and adherence to industry norms. | Due to legal limits, XTB provides less leverage to retail accounts than other brokers. Traders seeking increased leverage should bear this in mind. |
| XTB offers traders a full set of trading tools, including powerful charting capabilities and extensive research facilities, allowing them to make informed trading decisions. | XTB’s customer support is prompt and efficient, although it only operates during the week. |
| XTB’s cheap pricing structure, which includes low or no deposit/withdrawal fees and a low minimum deposit requirement, allows traders to trade cost-effectively. | Although XTB allows the trading of genuine stocks in certain countries, CFD trading is its core focus. |
| XTB offers approximately 3900 equities, ETFs, commodities, indices, cryptocurrencies, and FX pairs, allowing traders to diversify their portfolios across many marketplaces. | Some users have commented that the XTB platform’s customising possibilities are restricted, which may be a consideration for traders who prefer individualised trading experiences. |
Trust Score
XTB has a trust score of 95%
Does XTB offer charting or analytical tools for traders in Singapore?
Yes, traders in Singapore have access to powerful charting capabilities and extensive research facilities, allowing them to make informed trading decisions.
Does XTB offer a demo account?
Yes, beginner traders in Singapore can access a free demo account from XTB before signing up for a live trading account.
How to choose the best Forex brokers with a $1 minimum deposit in Singapore
Singaporean traders must evaluate the following components of a Forex broker with a $1 minimum deposit to decide whether the broker is suited to their unique trading objectives and/or needs.
Regulations and Licenses
This is the first important component that traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others. Singaporean traders must beware when dealing with brokers that only have offshore regulations such as FSA, SVG BVI, FSC, and others.
Account Features
Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.
Deposits and Withdrawals
Singaporean traders must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees.
Range of Markets
The range of markets offered refers to the number and range of tradable instruments that the broker offers. Singaporean traders must consider what they wish to trade and what is available.
Customer Support
Customer Support is another crucial factor and Singaporean traders must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.
Trading Platform
A trading platform is the Singaporean trader’s portal to the financial markets. Traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.
Education and Research
Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:
✅eBooks
✅Trading guides
✅Trading knowledge on leveraged products
✅A risk warning on complex instruments
✅Educational videos
Research can include some of the following:
✅Trading tools
✅Commentary
✅Status of International Markets
✅Price movements
✅Market sentiments
✅Whether there is a volatile market
✅Exchange Rates
✅Expert opinions and several other resources can help experienced traders make informed trading decisions.
The Best Forex Brokers in Singapore
In this article, we have listed the best brokers that have a USD1 minimum deposit available to Singaporean traders. We have further identified the brokers that offer additional services and solutions to traders in Singapore
Best MetaTrader 4 / MT4 Forex Broker
Overall, Alpari is the best MT4 Forex broker in Singapore. Investors often see Alpari as a safe option because it has a great reputation for being a reliable market maker. Alpari guarantees that trading times will have been less than one millisecond. Nearly two million people have signed up to use Alpari so far.
Best MetaTrader 5 / MT5 Forex Broker
Overall, AvaTrade is the best MT5 Forex broker in Singapore. One reason AvaTrade has a good reputation for honesty is that it keeps different client accounts with trustworthy banks in all the places where it does business.
Best Forex Broker for beginners
Overall, eToro is the best Forex broker for beginners in Singapore. Aside from the simulated trading accounts, eToro Academy, and the eToro Plus paid membership plan, there are many other ways that users can gain from using eToro.
Best Low Minimum Deposit Forex Broker
Overall, Oanda is the best low minimum deposit Forex broker for traders in Singapore. The cutting edge trading tool at Oanda is useful for all types of forex traders.
Best ECN Forex Broker
Overall, XM is the best ECN forex broker in Singapore. Cost, customer service, value, and safety are the four things that XM looks at the most when providing an online trading site.
Best Islamic / Swap-Free Forex Broker
Overall, Tickmill is the best Islamic / Swap-Free forex broker in Singapore. As a brokerage, you can trust Tickmill to give you correct details. This broker is a great choice for a wide range of buyers because it has low spreads, small fees, and a lot of account options. You can get Tickmill in a number of languages right now, and it can be useful in many scenarios.
Best Forex Trading App
Overall, Exness offers the best trading app for traders in Singapore. The Exness Trader app is a great tool for Singaporean sellers because it has a lot of useful features and functions. Candlestick charts, technical indicators, and mathematical tools can be very helpful for traders who are just starting out.
Best Forex Rebates Broker
Overall, FxPro is the Best Forex Rebates Broker in Singapore. People who use FxPro can use both ECN and STP services. Retail buyers on the FX market can get up to 30% back in cash every month.
Best Lowest Spread Forex Broker
Overall, Pepperstone is the best lowest spread forex broker in Singapore. Pepperstone has spreads that start at 0.0 pip for buying US dollars versus euros. It has been a long time since Pepperstone Markets hasn’t been a top exchange.
Best Nasdaq 100 Forex Broker
Overall, IG is the best Nasdaq 100 forex broker in Singapore. Due to its wide range of products, state-of-the-art trade tools, and good market conditions, IG has grown to become one of Singapore’s top 20 platforms. There are a lot of reliable online dealers that serve the Singaporean market, but IG stands out because it offers a wide range of assets and is closely watched by regulators.
Best Volatility 75 / VIX 75 Forex Broker
Overall, IC Markets is the best Volatility 75 / VIX 75 forex broker in Singapore. Singaporean traders can now reach global financial markets thanks to cutting-edge trading tools from IC Markets.
Best NDD Forex Broker
Overall, BDSwiss is the best NDD forex broker in Singapore. When it comes to foreign CFD and forex providers and traders, BDSwiss stands out. It is in charge of more than 16,000 partner accounts and up to €20 billion in foreign exchange transactions every month.
Best STP Forex Broker
Overall, Octa is the best STP forex broker in Singapore. Octa has been given more than twenty-eight awards. Octa has found that using ECN and STP, or straight-through processing, can cut transaction costs by about a third.
Best Sign-up Bonus Broker
Overall, HFM is the best sign-up bonus broker in Singapore. The trading tool from HFM is liked by traders because it is of high quality and doesn’t cost too much. Users with different levels of experience can easily find their way around the HFM website because it has so many asset markets and account-setting options.
How to start trading with a $1 minimum deposit in Singapore
It is commonly believed that a substantial sum of money is necessary to begin forex trading. But this isn’t always the case. Thanks to the proliferation of internet trading platforms, even a little initial investment of $1 will get you started. If you want to start trading foreign exchange with just one dollar, here are the steps:
Step 1: Find a broker the offers a cent account in Singapore
To begin trading foreign exchange with just one dollar, you must first locate the top forex brokers in Singapore that provide micro accounts. You can trade with as little as one dollar in a micro account, a special kind of trading account. For those just starting out, this is a great way to dip a toe in the water without putting down any serious cash.
Read reviews written by other traders before you choose a forex broker. Choose a broker with experience and a solid reputation from an established financial regulatory body.
Step 2: Start trading on a demo account
Opening a demo account is the following step after locating a broker that provides micro accounts. You can practise trading with virtual funds instead of real ones by opening a demo account. Before you start trading with actual money, this is a fantastic method to learn the ropes and put your trading strategies to the test.
Free practice accounts with all the bells and whistles of a real account are available from the majority of brokers. What this implies is that you can practise trading in a virtual environment while accessing real-time market data. It is advised to dedicate a few weeks to training on a demo account prior to transferring to a live one.
Step 3: Begin trading with $1
You can start trading with real money after you’ve learnt the basics of FX with a demo account. Having said that, it’s recommended to begin with a modest sum, like $1. If you do this, you can lessen the impact of any mistakes you make.
Remember to keep your expectations reasonable while beginning with such a tiny sum. Although you might not notice substantial gains immediately, the objective is to acquire knowledge and progressively raise your trading capital as time goes on.
The advantages of trading with a low minimum deposit
Traders in Singapore should be aware that trading is never without risk, particularly when using leverage, even though they can start with a low minimum deposit. It only takes a little negative shift in the currency pair you’re trading for your entire account to collapse. Starting with more than the account minimum can help lessen this problem by making the amount of leverage more manageable.
One lot is not a limiting factor for traders using a forex micro account. You can trade 10 mini lots for the price of one standard lot. A trader can tailor the trade and exert more control over risk by employing tiny lots as opposed to ordinary lots.
Mini lots generally allow for substantially more leverage when traded with retail forex brokers, which is another reason why some traders choose to employ them. By reducing trade quantities, this reduces risk for them. Even though mini forex trading allows for more leverage, most forex traders still trade in 100,000 units (10 mini lots) to take advantage of it.
Trading using a micro account is a great way to test the waters. One could be used by a seasoned forex trader to try out a different method or technique. To make it work, the trader needs to log in and trade just like they normally would with their forex account; otherwise, the results won’t be fair.
To sum up, a micro account is a great way to start out with limited risk and maximum potential reward when trading foreign exchange in Singapore. Micro forex accounts are often used by specialists since they allow them to try new tactics with little risk.
Conclusion
Overall, Forex brokers that offer a low minimum deposit of just $1 allow beginner traders in Singapore to start Forex trading with significantly reduced risk of loss. That said, traders in Singapore should always sign up with a regulated Forex broker.
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Frequently Asked Questions
Is it common for brokers to offer a $1 minimum deposit in Singapore?
While minimum deposit requirements can vary among brokers, a $1 minimum deposit is not very common. It’s essential to research and confirm the terms and conditions associated with such offers to ensure they meet your trading needs.
Are there any hidden fees or conditions associated with the $1 minimum deposit offer?
Brokers may have additional fees or specific conditions tied to a low minimum deposit. It’s crucial to understand if there are any transaction fees, withdrawal charges, or other conditions that could affect your trading experience.
What types of accounts are available with a $1 minimum deposit?
Brokers might offer different account types, each with its features and benefits. Understanding the limitations and advantages of the account associated with the $1 minimum deposit can help you make informed decisions about your trading strategy and preferences.
Can I access the full range of trading instruments and features with a $1 minimum deposit?
Some brokers may limit the access or features available to accounts with a minimal deposit. Clarify whether you can trade all available instruments, utilize advanced trading tools, and access educational resources with the $1 minimum deposit account.
How secure is the broker offering a $1 minimum deposit in Singapore?
Security and reliability are paramount when selecting a broker. Verify the broker’s regulatory status, check customer reviews, and understand the measures they have in place to protect your funds and personal information. Ensuring the broker is reputable can help you trade with confidence.
