Easily Trade – Apple, Microsoft , Tesla and Google Stocks – Open a FREE Account Here

9 Best Cryptocurrency Brokers in Singapore

4.7/5 - (12 votes)
4 Best Volatility 75 Index Brokers in Singapore
Updated : August 8, 2024

The 9 Best Cryptocurrency Brokers in Singapore revealed. After conducting a thorough analysis of the cryptocurrency trading scene in Singapore, our team has identified the top nine brokers that stand out for their exceptional services.

Our article provides a comprehensive evaluation of each broker’s features, security measures, fees, and other important info. This will help traders search for the best platform to make cryptocurrency investments. In this in-depth guide, you’ll learn about the following:

 

  • Exploring the Cryptocurrency Market in Singapore
  • The 9 Best Cryptocurrency Brokers in Singapore
  • How To Start Trading Cryptocurrencies in Singapore
  • Our Conclusion on the 9 Best Cryptocurrency Brokers in Singapore
  • Popular FAQs about the 9 Best Cryptocurrency Brokers in Singapore

 

And lots more…

So, if you’re ready to go “all in” with the 9 Best Cryptocurrency Brokers in Singapore…

Let’s dive right in…

10 Best Forex Brokers in Singapore for 2024

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

4.4/5

User Score

#2

4.7/5

User Score

#3

4.5/5

User Score

#4

4.4/5

User Score

#5

4.7/5

User Score

#6

4.6/5

User Score

#7

4.7/5

User Score

#8

4.8/5

User Score

#9

4.8/5

User Score

#10

4.7/5

User Score

Exploring the Cryptocurrency Market in Singapore

 

Our investigation into Singapore’s cryptocurrency market has uncovered a dynamic ecosystem that is not only keeping up with but also actively influencing the future of digital finance. The regulatory framework, specifically the Payment Services Act (PSA), is vital in supporting this growth.

In our experience, requiring licenses from the Monetary Authority of Singapore (MAS) for businesses involved in digital payment tokens (DPT) ensures that the sector operates transparently and responsibly.

The proactive regulatory approach in Singapore’s crypto landscape is truly remarkable. The MAS creates an environment that promotes security and trust, appealing to businesses and investors.

The recent amendments to the PSA demonstrate Singapore’s dedication to enhancing consumer protection and market integrity. These changes now encompass custodial services and cross-border transfers, further solidifying Singapore’s commitment to continuous improvement.

According to our research, the Singaporean population’s strong proficiency in technology is an undeniable advantage, leading to a significant increase in the use of cryptocurrencies.

Although not officially recognized as legal tender, the fact that digital assets are widely accepted as an alternative form of payment reflects the nation’s growing confidence in them. With the absence of capital gains tax on individual crypto investments, Singapore has become an attractive option for global investors.

It is clear that the government agencies in Singapore are making dedicated efforts to find a careful equilibrium between fostering innovation and implementing necessary regulations.

Through careful management, Singapore has become a highly sought-after destination for businesses and investments in the crypto industry

We have to mention that other nations could benefit from studying Singapore’s approach to regulating their own cryptocurrency markets effectively.

Overall, this model strongly emphasizes meeting the needs of traders, businesses, and investors, all while fostering innovation and driving economic growth.

9 Best Cryptocurrency Brokers in Singapore – Comparison

🔍Broker🫴🏻Crypto Broker🚀Open an Account💵Minimum Deposit⬆️Crypto Leverage Cap
🥇HFM✅ Yes👉 Click Here0 SGD (0 USD)1:50
🥈easyMarkets✅ Yes👉 Click Here34 SGD ($25)1:400
🥉Capital.com✅ Yes👉 Click Here27 SGD ($20)1:100
🏆eToro✅ Yes👉 Click Here2,700 SGD ($2,000)1:2
🥇AvaTrade✅ Yes👉 Click Here125 SGD ($100)1:25
🥈HYCM✅ Yes👉 Click Here27 SGD ($20)1:5
🥉Exness✅ Yes👉 Click Here14 SGD ($10)1:400
🏆Eightcap✅ Yes👉 Click Here135 SGD ($100)1:20 (SCB Regulation)
🥇CMC Markets✅ Yes👉 Click Here0 SGD ($10)1:2

9 Best Cryptocurrency Brokers in Singapore (2024)

  1. ☑️HFM – Overall, The Best Cryptocurrency Broker in Singapore
  2. ☑️easyMarkets – Best CFD Broker
  3. ☑️Capital.com – Best Broker for Beginners
  4. ☑️eToro – Best Broker for Investing
  5. ☑️AvaTrade – Best Online Trading Platform
  6. ☑️HYCM – Best Mobile App
  7. ☑️Exness – Best Multi-Asset Broker
  8. ☑️Eightcap – Best Educational Resouces
  9. ☑️CMC Markets – Best Financial Service Provider

HFM

 

HFM Review

 

We’ve done a lot of research on HFM, a reputable international broker that offers traders in Singapore an amazing selection of cryptocurrencies.

Their platform offers a large selection of cryptocurrencies combined with fiat and other digital assets, allowing traders of different risk appetites and preferences to employ various trading tactics.

The competitive spreads charged by HFM allow traders to optimize profits by reducing transaction costs. The trading experience is further improved by their advanced charting tools and user-friendly UI.

 

Overall Rating

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

 

For those in Singapore who are new to cryptocurrency trading, HFM’s educational materials are a great resource as they offer a strong foundation in this exciting sector.

According to our evaluation, Singaporean traders entering the cryptocurrency market who want a reliable international broker should seriously consider HFM.

 

Unique Features

⌛Regulations and LicensesFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
🗂️Account TypesCent, Premium, Zero, Pro, Pro Plus
💴Base CurrenciesUSD, NGN, ZAR
🎁Bonuses✅ Yes, deposit bonuses, top-up bonuses, giveaways, affiliate promotions, trader awards, loyalty programs, demo contests, merchandise
📊Trading PlatformsMetaTrader 4, MetaTrader 5, HF App
💵Minimum Deposit0 SGD (0 USD)
➡️Average Crypto Spread (BTC/USD)36 pips
🔢Number of Cryptocurrencies40
⬆️Crypto Leverage Cap1:50
🪙Crypto Deposits and Withdrawals??✅ Yes
🚀Open an Account👉 Click Here

 

HFM Review

 

Pros and Cons

✅Pros❌Cons
There is a range of assets that can be tradedThere are limited crypto deposit and withdrawal options
HFM offers leverage of up to 1:50 on cryptoSingaporeans can’t register an SGD-denominated account
Crypto spreads are competitive compared to other brokersThere are limited deposit and withdrawal options

 

 

easyMarkets

 

EasyMarkets Review

 

easyMarkets stands out as a broker that truly grasps the needs and preferences of today’s crypto traders. Since its establishment in 2001, easyMarkets has successfully broadened its services to encompass a diverse selection of cryptocurrencies.

 

The increasing demand for digital assets in the region has driven this strategic move. Traders in Singapore can utilize a platform that grants access to popular cryptocurrencies and provides exclusive risk management tools such as dealCancellation and Freeze Rate.

 

Overall Rating

Min Deposit

34 SGD ($25)

Regulators

BVI FSC, CySEC, ASIC, FSA

Trading Desk

TradingView, MetaTrader 4, MetaTrader 5, easyMarkets

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

on easyMarkets’ website

 

Upon examining easyMarkets, it becomes evident that they prioritize transparency and simplicity. With the platform’s fixed spreads, traders can confidently execute strategies without being concerned about unpredictable transaction costs. We believe that this stability is particularly advantageous in the dynamic realm of crypto trading.

 

Unique Features

⌛Regulations and LicensesBVI FSC, CySEC, ASIC, FSA
🗂️Account TypesWeb/App VIP, Web/App Premium, Web/App Standard, MT4 VIP, MT4 Premium, MT4 Standard, MT5
💴Base CurrenciesEUR, CAD, CZK, JPY, NZD, AUD, PLN, TRY, CNY, HKD, USD, SGD, CHF, GBP, MXN, NOK, SEK, ZAR, BTC
🎁Bonuses✅ Yes, first deposit bonus, partnership program, referral bonus
📊Trading PlatformsTradingView, MetaTrader 4, MetaTrader 5, easyMarkets
💵Minimum Deposit34 SGD ($25)
➡️Average Crypto Spread (BTC/USD)85 pips
🔢Number of Cryptocurrencies20
⬆️Crypto Leverage Cap1:400
🪙Crypto Deposits and Withdrawals??✅ Yes
🚀Open an Account👉 Click Here

 

easyMarkets Review

 

Pros and Cons

✅Pros❌Cons
Fixed spreads ensure accuracy in terms of trading costs calculatedWide spreads on crypto assets
Well-regulated in several regionsLeverage up to 1:400 is extremely high for volatile assets like crypto
Offers a range of account currencies, including SGDNo local offices or regulations in Singapore

 

 

Capital.com

 

Capital.com Review

 

Capital.com has captured our interest with its fresh and inventive approach to crypto trading. It has quickly risen to prominence as a prominent player in the online trading industry.

 

Traders in Singapore have the opportunity to explore a wide range of cryptocurrencies on their platform. Furthermore, Capital.com offers a fascinating AI-powered trading platform that utilizes artificial intelligence to deliver customized insights and trading recommendations.

 

In our experience, this advanced technology can potentially assist traders in making well-informed decisions. They also provide a demo account, a valuable tool for beginners to practice trading strategies in a risk-free environment.

 

Capital.com

Overall Rating

Min Deposit

27 SGD ($20)

Regulators

FCA, ASIC, CySEC, NBRB, FSA

Trading Desk

Capital.com API, TradingView, MT4, Capital.com web, CFD trading app

Crypto

Yes

Total Pairs

0

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

We also found that they offer commendable educational resources that provide a comprehensive overview of the crypto market and trading techniques.

 

We consider Capital.com a formidable option for Singaporean traders searching for a state-of-the-art platform equipped with advanced AI capabilities.

 

Unique Features

⌛Regulations and LicensesFCA, ASIC, CySEC, NBRB, FSA
🗂️Account TypesCFD Trading Account
💴Base CurrenciesUSD, GBP, EUR, PLN, AUD
🎁BonusesRebates for active traders
📊Trading PlatformsCapital.com API, TradingView, MetaTrader 4, Capital.com web, CFD trading app
💵Minimum Deposit27 SGD ($20)
➡️Average Crypto Spread (BTC/USD)100 pips+
🔢Number of Cryptocurrencies400+
⬆️Crypto Leverage Cap1:100
🪙Crypto Deposits and Withdrawals?None
🚀Open an Account👉 Click Here

 

Capital Review

 

Pros and Cons

✅Pros❌Cons
Low minimum deposit to get startedExtremely wide crypto spreads
Offers a wide selection of crypto assetsThere are no crypto deposit and withdrawal payment methods
Traders can use powerful platforms to access crypto assetsNot regulated in Singapore

 

 

eToro

 

eToro Review

 

eToro is a prominent broker that has made a noteworthy impression in the trading industry through its cutting-edge social trading platform.

 

The platform provides a wide selection of cryptocurrencies for traders in Singapore, enabling them to trade popular digital assets such as Bitcoin, Ethereum, and more.

 

The platform offers a distinctive social trading feature that allows users to track and replicate the trades of accomplished traders.

 

Overall Rating

Min Deposit

2,700 SGD ($2,000)

Regulators

CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC

Trading Desk

eToro platform

Crypto

Yes

Total Pairs

60+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

We believe this presents a valuable opportunity for beginners to gain insights from seasoned traders. eToro provides a user-friendly interface and mobile app, allowing traders to manage their portfolios while moving easily.

 

After thoroughly examining the platform, it is clear that eToro stands out as a compelling choice for crypto traders in Singapore. This is primarily due to its wide range of cryptocurrency options and cutting-edge social trading features.

 

Unique Features

⌛Regulations and LicensesCySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC
🗂️Account TypesStandard Retail Account
💴Base CurrenciesUSD
🎁Bonuses✅ Yes, the eToro Club bonus
📊Trading PlatformseToro platform
💵Minimum Deposit2,700 SGD ($2,000)
➡️Average Crypto Spread (BTC/USD)700 points
🔢Number of Cryptocurrencies60+
⬆️Crypto Leverage Cap1:2
🪙Crypto Deposits and Withdrawals??✅ Yes, eToro Money
🚀Open an Account👉 Click Here

 

eToro Review

 

Pros and Cons

✅Pros❌Cons
The best option for crypto social and copy tradingWide spreads charged on crypto
Traders can deposit and withdraw in crypto using eToro MoneyStrict cap on crypto leverage
Award-winning broker with a good reputationNot regulated in Singapore
Offers risk management tools to mitigate risks in volatile marketsOnly offers one retail account

AvaTrade

 

AvaTrade Review

 

AvaTrade provides a diverse selection of trading instruments, including cryptocurrencies. Traders in Singapore can benefit from AvaTrade’s wide range of digital assets, including popular options like Bitcoin, Ethereum, and Ripple.

This allows for the opportunity to diversify portfolios and explore different trading strategies. Their platform offers spreads and leverage to enhance trading potential and profitability.

 

Overall Rating

Min Deposit

135 SGD (100 USD)

Regulators

ASIC, FSA, CBI,  BVI, FSCA, FRSA, ISA

Trading Desk

MT4, MT5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

51

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Our research shows that AvaTrade offers a user-friendly interface and advanced trading tools, catering to the needs of both novice and seasoned traders.

Based on our analysis, AvaTrade emerges as a preferred option for crypto traders in Singapore, thanks to its extensive range of cryptocurrency options and customer-focused features.

 

Unique Features

⌛Regulations and LicensesCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC
🗂️Account TypesRetail, Islamic, Professional
💴Base CurrenciesZAR, USD, GBP, AUD
🎁Bonuses✅ Yes, referral bonus
📊Trading PlatformsAvaTrade WebTrader, AvaOptions, AvaTradeGO, MetaTrader 4, MetaTrader 5, AvaSocial, DupliTrade, ZuluTrade
💵Minimum Deposit125 SGD ($100)
➡️Average Crypto Spread (BTC/USD)0.10%
🔢Number of Cryptocurrencies20
⬆️Crypto Leverage Cap1:25
🪙Crypto Deposits and Withdrawals?None
🚀Open an Account👉 Click Here

 

AvaTrade Review

 

Pros and Cons

✅Pros❌Cons
Extremely low and competitive crypto feesNot regulated in Singapore
There is a range of crypto assetsOffers a single retail account
Offers some of the most extensive education and researchDoesn’t support crypto deposits or withdrawals

 

 

HYCM

 

HYCM Review

 

HYCM offers a carefully chosen range of popular cryptocurrencies, allowing traders to access the most liquid and established digital assets.

 

HYCM’s trading platform is highly regarded for its advanced charting tools and technical indicators, making it a valuable resource for traders who rely heavily on technical analysis.

 

Overall Rating

Min Deposit

27 SGD ($20)

Regulators

FCA, CySEC, CIMA, DFSA

Trading Desk

MT4, MT5, HYCM trader

Crypto

Yes

Total Pairs

69

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Their customer support is highly regarded for its prompt and helpful assistance to traders, which impressed us.

 

Overall, we found that HYCM is an excellent option for Singaporean traders who appreciate top-notch service and advanced trading tools. Their dedication to delivering a premium trading experience sets them apart.

 

Unique Features

⌛Regulations and LicensesFCA, CySEC, CIMA, DFSA
🗂️Account TypesFixed, Classic, Raw
💴Base CurrenciesUSD, EUR, GBP, AED, JPY
🎁Bonuses✅ Yes, welcome bonus, deposit bonus, referral bonus
📊Trading PlatformsMetaTrader 4, MetaTrader 5, HYCM trader
💵Minimum Deposit27 SGD ($20)
➡️Average Crypto Spread (BTC/USD)90 pips variable, 100 pips fixed
🔢Number of Cryptocurrencies28
⬆️Crypto Leverage Cap1:5
🪙Crypto Deposits and Withdrawals?✅ Yes
🚀Open an Account👉 Click Here

 

HYCM Review

 

Pros and Cons

✅Pros❌Cons
Competitive spreads charged on crypto assetsThe spreads on cryptocurrencies are extremely wide
Allows crypto deposits and withdrawalsLimited third-party platform support
Offers flexible account typesDoesn’t support SGD as an account base currency

 

 

Exness

 

Exness Review

 

Based on our evaluation, Exness has attracted a dedicated community of traders from around the globe. They have a diverse selection of digital assets available for trading with various fiat currencies and other cryptocurrencies.

Exness’ trading platforms are renowned for their exceptional speed and unwavering reliability, making them indispensable in the dynamic realm of cryptocurrency trading. Their highly competitive spreads can help traders save on transaction costs.

 

Overall Rating

Min Deposit

14 SGD / 10 USD

Regulators

FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA

Trading Desk

MT4, MT5

Crypto

Yes

Total Pairs

120+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

We also found that Exness provides various account types, each offering unique features and advantages to accommodate a diverse group of crypto traders in Singapore.

After thoroughly examining Exness, it is clear that Singaporean traders looking for a fast and reliable platform with competitive spreads should consider exploring this option.

 

Unique Features

⌛Regulations and LicensesFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA
🗂️Account TypesStandard, Standard Cent, Raw Spread, Zero, Pro, Social Standard, Social Pro, Demo, Islamic
💴Base CurrenciesUSC, EUC, GBC, CHC, AUC, CAC, AED, ARS, AUD, AZN, BDT, BHD, BND, BRL, CAD, CHF, CNY, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, JOD, JPY, KES, KRW, KWD, KZT, MAD, MXN, MYR, NGN, NZD, OMR, PHP, PKR, QAR, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF, ZAR
🎁BonusesNone
📊Trading PlatformsMetaTrader 4, MetaTrader 5, Exness Terminal, Exness App
💵Minimum Deposit14 SGD ($10)
➡️Average Crypto Spread (BTC/USD)71 pips on Zero
🔢Number of Cryptocurrencies10
⬆️Crypto Leverage Cap1:400
🪙Crypto Deposits and Withdrawals?✅ Yes
🚀Open an Account👉 Click Here

 

Exness Review

 

Pros and Cons

✅Pros❌Cons
Offers an SGD-denominated accountDoesn’t offer any bonuses or promotions
Traders can deposit and withdraw in several currenciesLimited localized education and support for Singapore

 

 

Eightcap

 

EightCap Review

 

With its cutting-edge crypto trading platform, Eightcap has quickly gained attention in the online trading industry.

 

While exploring their platform, we were pleasantly surprised by the extensive range of cryptocurrencies available. This included not only popular coins but also a diverse selection of altcoins.

 

Overall Rating

Min Deposit

135 SGD ($100)

Regulators

CySEC, SCB, ASIC, FCA

Trading Desk

MT4, MT5, TradingView

Crypto

Yes

Total Pairs

45

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

The platform provided by Eightcap is designed to be user-friendly and intuitive, catering to both novice and experienced traders with its advanced features. Active traders may find their low spreads and fast execution speeds particularly appealing.

 

We were extremely satisfied with the customer support offered by Eightcap. They were quick to respond and provided valuable assistance.

 

Overall, we’re confident that Eightcap would be ideal for Singaporean traders seeking a contemporary platform offering competitive pricing and exceptional customer service.

 

Unique Features

⌛Regulations and LicensesCySEC, SCB, ASIC, FCA
🗂️Account TypesStandard, Raw, TradingView
💴Base CurrenciesAUD, USD, EUR, GBP, NZD, CAD, SGD
🎁BonusesNone
🗂️Trading PlatformsMetaTrader 4, MetaTrader 5, TradingView
💵Minimum Deposit135 SGD ($100)
➡️Average Crypto Spread (BTC/USD)12 USD
🔢Number of Cryptocurrencies100+
⬆️Crypto Leverage Cap1:20 (SCB Regulation)
🪙Crypto Deposits and Withdrawals?✅ Yes
🚀Open an Account👉 Click Here

 

Eightcap Review

 

Pros and Cons

✅Pros❌Cons
Regulated by entities like FCA and CySECNot regulated in Singapore
Offers an SGD-denominated accountDoesn’t have an office in Singapore
Allows crypto paymentsLimited third-party tools and platforms

 

 

CMC Markets

 

CMC Markets Review

 

The reputable international broker CMC Markets extends its expertise and renowned reputation to the exciting world of crypto trading. Their platform provides Singaporeans various crypto trading tools, such as advanced charting, technical indicators, and risk management features.

CMC Markets offers exceptional educational resources, providing traders with comprehensive market analysis and valuable trading insights. The customer support provided by the team is highly professional and responsive, ensuring that traders always receive timely assistance.

 

CMC Markets Review

Overall Rating

Min Deposit

0 SGD ($10)

Regulators

BaFin, FCA, ASIC, MAS, FMA, IIROC, DFSA

Trading Desk

MT4, Next Generation, CMC Markets App

Crypto

Yes

Total Pairs

158

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

on CMC Markets’ website

 

Overall, we found that CMC Markets is an excellent option for Singaporean traders looking for a sophisticated platform with comprehensive trading tools and top-notch customer support. Their commitment to quality and service is truly compelling.

 

Unique Features

⌛Regulations and LicensesBaFin, FCA, ASIC, MAS, FMA, IIROC, DFSA
🗂️Account TypesCFD, Spread Betting, Corporate
💴Base CurrenciesGBP, EUR, USD, AUS, CAD, NOK, NZD, PLN, SEK, SGD
🎁Bonuses✅ Yes, the referral program
📊Trading PlatformsMetaTrader 4, Next Generation, CMC Markets App
💵Minimum Deposit0 SGD ($10)
➡️Average Crypto Spread (BTC/USD)75 pips
🔢Number of Cryptocurrencies18
⬆️Crypto Leverage Cap1:2
🪙Crypto Deposits and Withdrawals?None
🚀Open an Account👉 Click Here

 

CMC Markets Review

 

Pros and Cons

✅Pros❌Cons
Singaporeans can register an SGD-denominated accountDoesn’t support crypto payments for deposits or withdrawals
No set minimum deposit requirementWide spreads on crypto
Offers a decent range of proprietary and third-party apps and platformsLimited retail accounts

 

 

How To Start Trading Cryptocurrencies in Singapore

 

How To Start Trading Cryptocurrencies in Singapore

 

Singapore has emerged as a thriving hub for cryptocurrency trading thanks to its progressive stance on financial technology.

As experienced individuals in the world of cryptocurrency, we aim to offer you a thorough guide to navigating the regulatory landscape and selecting the ideal broker for your requirements.

 

Understand The Regulatory Framework

Singapore’s regulatory body, the Monetary Authority of Singapore (MAS), has established a comprehensive framework for cryptocurrency trading. You can trade with peace of mind by creating a secure environment for investors and ensuring compliance with local regulations.

 

Choosing Your Path: Finding a Reputable Broker

Choosing a broker is an essential first step in your crypto trading journey. It is important to thoroughly research and select a broker that aligns with your trading objectives and adheres to MAS guidelines. Choosing this option will establish the foundation for your trading journey.

 

Opening an Account

Opening an account with your chosen broker is usually a simple and hassle-free process involving the following:

 

✅Complete an online application form with your personal information. Here is where you can provide your essential details, including your name, contact information, and identification.

✅Verification must comply with strict KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations. It is necessary to verify your identity. Typically, you must provide certain documents, such as a passport and proof of residence.

✅Once the verification process is complete, you can proceed to deposit funds into your account. Brokers frequently provide a range of options, such as bank transfers and credit cards, to cater to the preferences of traders in Singapore. Many brokers also support various crypto deposits.

✅Get to know the broker’s trading platform before you start trading. It’s important to be familiar with how it works. Several brokers provide demo accounts, which are extremely useful for gaining a sense of the market without putting actual money at stake.

✅Now that your account is funded and you understand the platform well, it’s time to dive into trading. Starting with small trades can help you gain a better understanding of market dynamics.

 

Tips for a Successful Start in Crypto Trading

Trading cryptocurrency in Singapore can yield significant rewards, but it is crucial to approach it with caution and be well-prepared. Here are a few pointers to assist you in getting started:

 

✅The cryptocurrency market is known for its unpredictable nature. It is important to dedicate time to educating yourself about various cryptocurrencies, stay updated on market trends, and familiarize yourself with different analysis techniques.

✅Begin with smaller investments to manage risk as you gain experience. Starting small is a prudent approach allowing you to build your investment portfolio gradually.

✅Protect your investments from significant losses using risk management tools such as stop-loss orders.

✅Stay informed about the latest news and events that can impact the cryptocurrency market.

✅Ensure the safety of your account by using robust passwords and implementing two-factor authentication.

✅Stay informed about the tax regulations concerning cryptocurrency gains in Singapore.

Conclusion

 

Having thoroughly explored the realm of cryptocurrency brokers in Singapore, we have gained several valuable insights. Singaporeans have a wide range of options to choose from, each with its own set of advantages and disadvantages.

Certain platforms stand out for their user-friendly interfaces and extensive educational resources, making them particularly well-suited for beginners. On the other hand, some platforms provide advanced trading tools and features tailored to the needs of more experienced traders.

Overall, we can conclude that the crypto scene in Singapore is dynamic and constantly changing, providing plenty of opportunities for both new and experienced traders to get involved in this thrilling market.

You Might Also Like: Best Micro Accounts

You Might Also Like: Best PAMM Accounts

You Might Also Like: Best Swap-Free Accounts

You Might Also Like: Best NDD Brokers

You Might Also Like: Best Low-Spread Brokers

Frequently Asked Questions

Yes, cryptocurrency trading is permitted in Singapore, with clear guidelines established by the Monetary Authority of Singapore (MAS) to ensure compliance with AML and CTF safeguards.

 

Yes, the cryptocurrency market is open 24/7, and several brokers provide round-the-clock trading options. However, certain platforms might restrict trading hours for specific assets.

Trading cryptocurrencies directly requires you to possess the underlying asset, whereas CFDs allow you to speculate on price swings without ownership. CFDs provide leverage; however, they are riskier due to increased losses.

Yes, some well-established brokers registered by the Monetary Authority of Singapore (MAS) provide crypto CFD trading alongside Forex and other assets.

Table of Contents