To find the best low-spread Forex brokers in Singapore, we have thoroughly tested and researched the leading brokers on the market to make sure we give traders the best, most affordable options. In this guide you will learn:
- What low-spread trading is in Singapore
- The 5 best low-spread Forex brokers in Singapore
- The most frequently asked questions about low-spread Forex brokers in Singapore
We strive to assist traders in maximizing their profits while lowering their trading expenses by concentrating on brokers who provide the best combination of low spreads, rapid execution, and strong regulatory supervision.
Come along as we compare and contrast five of the top low spread Forex brokers serving Singaporean traders based on features, pros, and cons.
- Candice Barnes
10 Best Forex Brokers in Singapore
Rank
Broker
Review
Regulators
Min Deposit
Official Site
What is low-spread trading in Singapore?
Low spread trading refers to Forex trading conditions where the difference between the bid price (the price at which you can sell) and the ask price (the price at which you can buy) is minimal.
This small difference, known as the spread, is essential for traders because it directly impacts their potential profit margins. Lower spreads mean lower costs for entering and exiting trades, making it an attractive option for high-frequency traders, day traders, and traders in Singapore dealing in large volumes.
5 Best Low-Spread Brokers in Singapore – Comparison
| 🔍Broker | 🫴🏻Low-Spread Broker | 🚀Open an Account | 💵Minimum Deposit | ➡️Minimum Spreads |
| 🥇AvaTrade | ✅ Yes | 👉 Click Here | SGD135.25 or USD100 | 0.0 pips |
| 🥈HFM | ✅ Yes | 👉 Click Here | IDR 81,340 or USD5 | 0.0 pips |
| 🥉IC Markets | ✅ Yes | 👉 Click Here | SGD 270.22 or USD200 | 0.0 pips |
| 🏆Pepperstone | ✅ Yes | 👉 Click Here | No minimum deposit | 0.0 pips |
| 🏅FXTM | ✅ Yes | 👉 Click Here | SGD13.51 or USD10 | 0.0 pips |
5 Best Low-Spread Brokers in Singapore (2024)
- ☑️AvaTrade – Overall, The Best Low-Spread Broker in Singapore
- ☑️HFM – Best Affiliate Program
- ☑️IC Markets – Excellent Educational Resouces
- ☑️Pepperstone – Best MT4 Broker
- ☑️FXTM – Best Islamic (Swap-Free) Account
AvaTrade
Traders in Singapore often prefer AvaTrade because of its well-known, competitively low spreads. Spreads on major currency pairs start at 0.0 pips on AvaTrade, allowing traders to execute efficient transactions with minimal transaction fees.
Based on our research, we found that AvaTrade’s spreads on major pairings like EUR/USD usually stay around 0.1 pips when the market is regular. Day traders and scalpers, who maximize their trading methods with tight spreads, will find this low spread environment quite helpful.
Overall Rating
- 4.9/5
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
MetaTrader 4 and MetaTrader 5, two of AvaTrade’s many trading platforms, come with cutting-edge features that improve trade accuracy. Slippage is minimized because of the broker’s dedication to offering deep liquidity and fast execution speeds, which improve the trading experience even further.
Traders in Singapore can rest easy knowing that AvaTrade is regulated by the Monetary Authority of Singapore (MAS) and has local customer assistance. If you’re a trader looking to maximize your profits with minimal effort, AvaTrade is a good option.
Unique Features
| 🔍Feature | Description |
| ✏️Average Spreads on Major Currency Pairs | EUR/USD: 0.9 pips, GBP/USD: 1.6 pips, USD/JPY: 1.1 pips |
| ➡️Minimum Spreads | 0.0 pips |
| 💴Commission Fees per Lot | No commission on Standard Account; from $3 per lot on other accounts |
| ⏱️Execution Speed | Very fast execution speeds |
| 👉Slippage Rates | Low slippage rates |
| 🌟Liquidity Providers | Multiple top-tier liquidity providers |
| 📊Trading Platforms Offered | MetaTrader 4, MetaTrader 5, AvaTrade WebTrader, AvaTradeGO, AVASocial |
| ⌛Regulatory Oversight | Regulated by ASIC, FSA, CySEC, and others |
| 🗂️Account Types Available | Standard, Professional, Spread Betting (UK/IE), Islamic |
| 📈Leverage Options | Up to 1:400 (depends on jurisdiction) |
| 💷Deposit and Withdrawal Fees | No deposit fees; withdrawal fees may apply depending on method |
| 🔟Customer Support Quality | 24/5 multilingual support with local Singaporean support |
| 🛢️Range of Tradable Instruments | 1,250+ instruments including forex, stocks, indices, commodities, cryptos |
| 🪛Trading Tools and Resources | Advanced charting tools, automated trading, educational resources |
| 💵Minimum Deposit Requirements in SGD | SGD135.25 or USD100 |
| ✔️Availability of Local Currency (SGD) as Base Currency | SGD available as a base currency |
| 📝Regulatory Compliance with MAS (Monetary Authority of Singapore) | ✅ Yes |
| 🎁Promotions and Bonuses for Singaporean Traders | Occasional promotions and bonuses available for Singaporean traders |
| 🗣️User Reviews and Ratings | Generally positive; praised for platform variety and support |
| 🎓Availability of Educational Resources | Extensive educational materials including webinars, tutorials, and articles |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| AvaTrade offers the AVASocial platform, enabling seamless copy trading. | Copy trading features are not available on all account types, limiting accessibility. |
| The AVAProtect feature allows traders to protect trades from losses for a small fee, adding security to copy trades. | Some advanced copy trading tools are only available on specific platforms like AVASocial. |
| AvaTrade’s copy trading tools are integrated into user-friendly platforms like MetaTrader 4 and 5. | There may be limited availability of experienced traders to copy in less popular markets. |
| Comprehensive educational resources are available to help traders understand copy trading. | Occasional technical issues with the AVASocial app can disrupt trading. |
| AvaTrade provides detailed performance statistics of top traders to aid in informed decision-making. | High leverage options in copy trading can increase risk, especially for inexperienced traders. |
| Traders can start copy trading with a low minimum deposit. | Limited customization options for copying trades compared to other brokers. |
Trust score
AvaTrade has a trust score of 93%
HFM
Traders in Singapore have much to gain from HFM since it is a prominent broker that offers some of the market’s lowest spreads. Traders can participate in cost-effective trading with HFM, as spreads on popular currency pairings start from 0.0 pips.
We found that HFM’s tight spreads are competitive across the board, averaging about 0.1 to 0.2 pips for important pairs like EUR/USD. Because of this, HFM is a great option for high-frequency traders and scalpers who are trying to keep their trading expenses down.
By minimizing the possibility of slippage, HFM’s strong trading infrastructure guarantees fast execution speeds, further improving the trading experience.
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
The regulatory structure of HFM is backed by numerous top-tier financial institutions, including the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), which brings a sense of security and reliability to Singaporean traders.
With its cutting-edge trading platforms, extensive educational resources, and dedication to offering a low spread trading environment, HFM is a go-to broker for traders looking to boost their trading potential.
Unique Features
| 🔍Feature | Description |
| ✏️Average Spreads on Major Currency Pairs | EUR/USD: 1.2 pips, GBP/USD: 1.8 pips, USD/JPY: 1.4 pips |
| ➡️Minimum Spreads | 0.0 pips |
| 💴Commission Fees per Lot | $6 per lot (round turn) on Zero Spread account |
| ⏱️Execution Speed | Fast execution speeds |
| 👉Slippage Rates | Low slippage rates |
| 🌟Liquidity Providers | Top-tier liquidity providers |
| 🛢️Trading Platforms Offered | MetaTrader 4, MetaTrader 5, HFM App |
| ⌛Regulatory Oversight | Regulated by FCA, CySEC, DFSA, FSCA |
| 🗂️Account Types Available | Micro, Premium, Zero Spread, Auto, PAMM, HFM Copy |
| 📈Leverage Options | Up to 1:1000 (depends on account type) |
| 💷Deposit and Withdrawal Fees | No deposit fees; withdrawal fees depend on method |
| 🔟Customer Support Quality | 24/5 multilingual support with local support options |
| 🛢️Range of Tradable Instruments | Over 1,200 instruments including forex, commodities, indices, shares, bonds |
| 🪛Trading Tools and Resources | Automated trading, advanced charting tools, VPS service |
| 💵Minimum Deposit Requirements in IDR | IDR 81,340 or USD5 |
| ✔️Availability of Local Currency (SGD) as Base Currency | SGD available as a base currency |
| 📝Regulatory Compliance with MAS (Monetary Authority of Singapore) | ✅ Yes |
| 🎁Promotions and Bonuses for Singaporean Traders | Occasional promotions and bonuses for new and existing traders |
| 🗣️User Reviews and Ratings | Generally positive; praised for account variety and low spreads |
| 🎓Availability of Educational Resources | Comprehensive educational materials including webinars, tutorials, and articles |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| HFM offers the HFCopy account specifically designed for copy trading. | Copy trading is only available for forex and CFDs, limiting asset class diversity. |
| The platform provides a detailed leaderboard of strategy providers, helping traders choose whom to copy. | The minimum deposit for HFCopy accounts is relatively high compared to other account types. |
| HFM supports a range of trading strategies, allowing for diversified copy trading. | Traders might face occasional slippage due to market volatility. |
| No additional fees are charged for copy trading services, making it cost-effective. | Some strategy providers may have inconsistent performance, increasing risk. |
| The user-friendly interface simplifies the process of setting up and managing copy trades. | Limited availability of top-performing strategy providers during certain market conditions. |
| Comprehensive performance metrics are provided for each strategy provider. | Copy trading on HFM might not be as advanced as some specialized copy trading platforms. |
Trust score
HFM has a trust score of 85%
IC Markets
Another popular choice among Singaporean traders is IC Markets, a prominent broker known for its extremely low spreads. If you’re a trader looking for affordable trading conditions, IC Markets has you covered with Raw Spread accounts that start at 0.0 pips on popular currency pairs.
Based on our analysis, IC Markets has some of the lowest average spreads in the business for pairs like EUR/USD, typically hovering around 0.1 pips. This is especially helpful for day traders and scalpers because they need narrow spreads to trade efficiently.
Overall Rating
- 4.9/5
Min Deposit
270 SGD (200 USD)
Regulators
ASIC, CySEC, FSA, SCB
Trading Desk
MT4, MT5, cTrader, IC Social, Signal Start, ZuluTrade
Crypto
Yes
Total Pairs
64+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Consistently low spreads, minimal slippage, and optimal trade execution speeds are all results of IC Markets’ dedication to ECN execution and access to large liquidity pools.
Securities and Investments Commission (ASIC) and Financial Services Authority (FSA) oversee the broker, giving Singaporean traders an additional sense of security and trust.
When it comes to cost-conscious traders, IC Markets is the best option thanks to its advanced trading platforms, dependable customer service, and emphasis on delivering a low spread trading environment.
Unique Features
| 🔍Feature | Description |
| ✏️Average Spreads on Major Currency Pairs | EUR/USD: 0.1 pips, GBP/USD: 0.4 pips, USD/JPY: 0.2 pips |
| ➡️Minimum Spreads | 0.0 pips |
| 💷Commission Fees per Lot | $3.50 per lot (round turn) on Raw Spread account |
| ⏱️Execution Speed | Very fast execution speeds |
| 👉Slippage Rates | Extremely low slippage rates |
| 🌟Liquidity Providers | Multiple top-tier liquidity providers |
| 📊Trading Platforms Offered | MetaTrader 4, MetaTrader 5, cTrader |
| ⌛Regulatory Oversight | Regulated by ASIC, CySEC, FSA |
| 🗂️Account Types Available | Standard, Raw Spread, Islamic |
| 📈Leverage Options | Up to 1:500 |
| 💷Deposit and Withdrawal Fees | No deposit fees; withdrawal fees may apply depending on method |
| 🔟Customer Support Quality | 24/7 multilingual support with local Singaporean support |
| 🛢️Range of Tradable Instruments | Over 2,000 instruments including forex, commodities, indices, bonds, cryptocurrencies |
| 🪛Trading Tools and Resources | Advanced charting tools, automated trading, VPS service |
| 💵Minimum Deposit Requirements in SGD | SGD 270.22 or USD200 |
| ✔️Availability of Local Currency (SGD) as Base Currency | SGD available as a base currency |
| 📝Regulatory Compliance with MAS (Monetary Authority of Singapore) | ✅ Yes |
| 🎁Promotions and Bonuses for Singaporean Traders | Occasional promotions and bonuses available for Singaporean traders |
| 🗣️User Reviews and Ratings | Highly positive; praised for low spreads and fast execution |
| 🎓Availability of Educational Resources | Extensive educational materials including webinars, tutorials, and articles |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| IC Markets supports copy trading through popular platforms like Myfxbook AutoTrade and ZuluTrade. | Some copy trading platforms may charge additional fees or commissions. |
| The broker offers low spreads and fast execution speeds, enhancing the efficiency of copy trades. | Limited direct support for copy trading from IC Markets, relying on third-party services. |
| Comprehensive performance analytics are available to evaluate potential traders to copy. | The complexity of setting up copy trading on external platforms can be a barrier for beginners. |
| Integration with MetaTrader 4 and 5 allows for advanced copy trading features. | Potential latency issues with third-party copy trading platforms during high volatility. |
| Deep liquidity ensures minimal slippage during copy trades. | Lack of in-depth educational resources specifically for copy trading. |
| Copy trading services are accessible with a relatively low minimum deposit. | Some advanced copy trading features may not be available on all account types. |
Trust score
IC Markets has a trust score of 86%
Pepperstone
Trading on Pepperstone is a great way for Singaporean traders to cut costs because of the platform’s well-respected, extremely narrow spreads. On major currency pairs, Pepperstone’s Razor account offers spreads as low as 0.0 pips.
Pepperstone offers traders extremely low pricing, as shown by our thorough evaluation of their trading circumstances. Typical spreads on pairs like EUR/USD generally vary between 0.0 and 0.1 pips.
Because their profitability is dependent on minimal transaction costs, high-frequency traders and scalpers will find this to be an especially beneficial development. With Pepperstone’s state-of-the-art trading infrastructure, you can expect lightning-fast execution times with almost no slippage at all.
Overall Rating
- 4.9/5
Min Deposit
14 SGD ($10)
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MT4, MT5, cTrader, TradingView
Crypto
Yes
Total Pairs
1000+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Trading on Pepperstone is safe and dependable since the platform is overseen by reputable financial regulators including the FCA and the Australian Securities and Investments Commission (ASIC).
The extensive training materials and local customer support offered by Pepperstone make it an attractive broker for individuals in Singapore. Traders can maximize their returns and trade with confidence on Pepperstone because they offer some of the market’s lowest spreads.
Unique Features
| 🔍Feature | Description |
| ✏️Average Spreads on Major Currency Pairs | EUR/USD: 0.09 pips, GBP/USD: 0.38 pips, USD/JPY: 0.23 pips |
| ➡️Minimum Spreads | 0.0 pips |
| 💴Commission Fees per Lot | $3.50 per lot (round turn) on Razor account |
| ⏱️Execution Speed | Fast execution speeds |
| 👉Slippage Rates | Very low slippage rates |
| 🌟Liquidity Providers | Top-tier liquidity providers |
| 📊Trading Platforms Offered | MetaTrader 4, MetaTrader 5, cTrader, TradingView |
| ⌛Regulatory Oversight | Regulated by ASIC, FCA, DFSA, SCB |
| 🗂️Account Types Available | Standard, Razor, Swap-Free |
| 📈Leverage Options | Up to 1:500 |
| 💷Deposit and Withdrawal Fees | No deposit fees; withdrawal fees depend on method |
| 🔟Customer Support Quality | 24/5 multilingual support with local Singaporean support |
| 🛢️Range of Tradable Instruments | Over 1,200 instruments including forex, commodities, indices, cryptocurrencies |
| 🪛Trading Tools and Resources | Advanced charting tools, automated trading, VPS service |
| 💵Minimum Deposit Requirements in SGD | No minimum deposit |
| ✔️Availability of Local Currency (SGD) as Base Currency | SGD available as a base currency |
| 📝Regulatory Compliance with MAS (Monetary Authority of Singapore) | ✅ Yes |
| 🎁Promotions and Bonuses for Singaporean Traders | Occasional promotions and bonuses for new and existing traders |
| 🗣️User Reviews and Ratings | Generally positive; praised for low spreads and customer service |
| 🎓Availability of Educational Resources | Comprehensive educational materials including webinars, tutorials, and articles |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Pepperstone offers integration with leading copy trading platforms like Myfxbook AutoTrade, ZuluTrade, and DupliTrade. | Relying on third-party platforms for copy trading can lead to occasional technical issues. |
| Low spreads and high execution speeds enhance the performance of copy trades. | Some copy trading services may have higher minimum deposit requirements. |
| Extensive performance data and analytics are available for selecting top traders to copy. | The performance of copy trading can be inconsistent due to market conditions. |
| The broker supports copy trading on MetaTrader 4 and 5, providing a familiar environment for users. | Limited direct customer support for issues related to third-party copy trading platforms. |
| Pepperstone offers a comprehensive educational section to help traders understand copy trading. | Potential for higher risk due to the use of leverage in copy trades. |
| Copy trading services are available with no additional fees, making it cost-effective. | Not all advanced copy trading features are available across all platforms. |
Trust score
Pepperstone has a trust score of 95%
FXTM
Low spread trading conditions are offered by FXTM, commonly known as ForexTime. Spreads on popular currency pairs start at 0.0 pips on FXTM, allowing traders to minimize trading costs.
Based on our research, FXTM offers competitive spreads on major pairs such as EUR/USD, which typically range from 0.1 to 0.2 pips. Mobile day traders and scalpers in Singapore who need to keep their costs low will appreciate this low spread environment.
Overall Rating
- 4.9/5
Min Deposit
14 SGD (10 USD)
Regulators
CySEC, FSCA, FCA, CMA, FSC Mauritius
Trading Desk
MT4, MT5, FXTM Trader
Crypto
Yes
Total Pairs
60
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
In addition to its dedication to providing tight spreads, FXTM also boasts significant liquidity, quick execution speeds, and a focus on minimizing slippage to improve the trading experience.
Investors from Singapore will appreciate that the broker is well-regulated by numerous bodies, including as the FCA and the CySEC. If you are looking for a dependable and affordable trading partner, FXTM is a great option because of its user-friendly trading platforms and extensive educational materials.
Unique Features
| 🔍Feature | Description |
| ✏️Average Spreads on Major Currency Pairs | EUR/USD: 0.1 pips, GBP/USD: 0.3 pips, USD/JPY: 0.2 pips |
| ➡️Minimum Spreads | 0.0 pips |
| 💴Commission Fees per Lot | $4 per lot (round turn) on ECN account |
| ⏱️Execution Speed | Fast execution speeds |
| 👉Slippage Rates | Low slippage rates |
| 🌟Liquidity Providers | Top-tier liquidity providers |
| 📊Trading Platforms Offered | MetaTrader 4, MetaTrader 5, FXTM Trader |
| ⌛Regulatory Oversight | Regulated by FCA, CySEC, FSCA |
| 🗂️Account Types Available | Standard, ECN, ECN Zero, FXTM Pro |
| 📈Leverage Options | Up to 1:2000 (depends on account type) |
| 💷Deposit and Withdrawal Fees | No deposit fees; withdrawal fees depend on method |
| 🔟Customer Support Quality | 24/5 multilingual support with local Singaporean support |
| 🛢️Range of Tradable Instruments | Over 250 instruments including forex, commodities, indices, stocks |
| 🪛Trading Tools and Resources | Advanced charting tools, automated trading, VPS service |
| 💵Minimum Deposit Requirements in SGD | SGD13.51 or USD10 |
| ✔️Availability of Local Currency (SGD) as Base Currency | SGD available as a base currency |
| 📝Regulatory Compliance with MAS (Monetary Authority of Singapore) | ✅ Yes |
| 🎁Promotions and Bonuses for Singaporean Traders | Occasional promotions and bonuses for new and existing traders |
| 🗣️User Reviews and Ratings | Generally positive; praised for low spreads and educational resources |
| 🎓Availability of Educational Resources | Extensive educational materials including webinars, tutorials, and articles |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| FXTM Invest allows for easy and straightforward copy trading with detailed leaderboards. | Copy trading is primarily available only for forex and CFDs, limiting asset diversity. |
| Low minimum deposit requirements make copy trading accessible to more traders. | Some top strategy providers may require higher minimum investments. |
| Comprehensive performance statistics are available to help traders choose the best strategies to copy. | Occasional technical issues with the FXTM Invest platform can disrupt trading. |
| The platform offers a wide range of strategy providers, increasing diversification options. | Limited customization options for copying trades compared to some other brokers. |
| FXTM provides educational resources specifically tailored to copy trading. | Performance of strategy providers can be inconsistent, increasing risk. |
| The broker offers competitive spreads and fast execution speeds, enhancing copy trading efficiency. | High leverage options in copy trading can amplify losses for inexperienced traders. |
Trust score
FXTM has a trust score of 93%
Conclusion
While looking for a low spread Forex broker in Singapore, it’s important to find one that offers both affordable fees and powerful trading tools.
Trading with Forex brokers that have a low spread allows you to maximize profits by reducing transaction costs, according to our experience. The reasonable spreads, dependable execution, and extensive platforms offered by each of the brokers are essential for carrying out successful trading strategies.
For high-frequency and day traders, low spread trading is essential since it lowers the cost per trade and enables more precise entry and exits.
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Frequently Asked Questions
Can I trade multiple asset classes with low spread brokers?
Yes, many low spread brokers offer a wide range of instruments, including forex, commodities, indices, and cryptocurrencies.
How do low spreads benefit high-frequency traders?
Low spreads are essential for high-frequency traders as they enable frequent trading without significantly eroding profits through high transaction costs.
What platforms are commonly offered by low spread brokers?
Low spread brokers often provide popular platforms such as MetaTrader 4, MetaTrader 5, and cTrader, which offer advanced trading tools and analytics.
Do low spread brokers offer educational resources?
Many low spread brokers provide extensive educational materials, including webinars, tutorials, and articles, to help traders improve their skills.
Are there any specific promotions or bonuses for traders in Singapore?
Some brokers offer promotions and bonuses, such as welcome bonuses or deposit incentives, specifically targeting traders in Singapore.
What regulatory oversight should I look for in a low spread broker?
Ensure that the broker is regulated by reputable authorities, such as the Monetary Authority of Singapore (MAS), to guarantee a secure trading environment.