Singapore has long been recognized as a leading financial hub in Asia, offering a stable regulatory environment, advanced infrastructure, and access to global markets. For traders and investors looking to engage in currency, futures, and securities trading, the city-state hosts a range of reputable and well-established exchanges and brokerage firms. In this guide, we’ll explore the top 10 currency exchanges in Singapore, detailing their services, strengths, and what sets them apart in the competitive financial landscape.
Whether you're interested in foreign exchange (forex), commodity futures, stock trading, or derivatives, these platforms offer robust solutions tailored to both retail and institutional investors. Let’s dive into the list.
1. Singapore Exchange (SGX)
The Singapore Exchange (SGX) stands at the forefront of the nation’s financial ecosystem. As one of Asia’s largest integrated exchange groups, SGX provides trading in equities, fixed income, derivatives, and commodities. It also operates Asia’s first multi-asset derivatives exchange.
SGX is particularly known for its strong regulatory framework and deep market liquidity. It offers currency futures contracts, including USD/SGD, which are widely used by hedgers and speculators alike. The exchange supports electronic trading through its SGX Reach platform, ensuring fast execution and real-time data access.
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2. UOB Bullion and Futures
A subsidiary of United Overseas Bank (UOB), UOB Bullion and Futures Limited specializes in precious metals and futures trading. While not a full-spectrum currency exchange, it plays a key role in Singapore’s bullion market.
Investors can trade gold, silver, and other commodities with leverage, making it an attractive option for those diversifying into hard assets. The firm is regulated by the Monetary Authority of Singapore (MAS) and integrates seamlessly with UOB banking services, offering margin financing and secure custody solutions.
Its focus on risk management and client education makes it a reliable choice for conservative traders seeking exposure to commodity-linked currencies.
3. Phillip Futures
Phillip Futures Pte Ltd is a well-known name in Singapore’s futures brokerage space. As part of the PhillipCapital group, it offers access to major international exchanges such as CME, Eurex, and HKEX.
The platform supports forex CFDs, index futures, energy products, and agricultural commodities. With low-latency trading systems and 24-hour customer support, Phillip Futures caters to active traders who demand speed and reliability.
Their user-friendly platforms — including MetaTrader 4 (MT4) integration — make it easy for both beginners and professionals to execute strategies across global markets.
4. OCBC Securities
As a subsidiary of OCBC Bank — one of Southeast Asia’s largest financial institutions — OCBC Securities Private Limited offers comprehensive investment services. These include stock trading, bond investments, forex, and commodity futures.
The brokerage provides access to over 15 global markets, including the U.S., Hong Kong, Japan, and Australia. Its research-driven approach delivers daily market insights and technical analysis, helping users make informed decisions.
Security is a top priority, with two-factor authentication and encrypted transactions standard across its digital platforms.
5. DBS Vickers
DBS Vickers Securities, part of DBS Group Holdings, is one of Singapore’s most trusted online brokerage firms. It offers trading in equities, ETFs, bonds, options, and forex across multiple jurisdictions.
What sets DBS Vickers apart is its integration with DBS banking services — allowing seamless fund transfers and margin lending. The platform also features intuitive tools like stock screeners, portfolio trackers, and real-time news feeds.
Regulated by MAS and backed by a strong balance sheet, DBS Vickers is ideal for long-term investors and active traders alike.
6. Maybank Kim Eng
Maybank Kim Eng Securities Pte. Ltd., part of Malaysia’s Maybank Group, has a strong presence in Singapore’s capital markets. It offers brokerage services for stocks, bonds, forex, and derivatives.
The firm is praised for its competitive commission rates and extensive research reports covering ASEAN markets. Its mobile app and desktop platform provide real-time pricing, advanced charting, and algorithmic order types.
Maybank Kim Eng also conducts regular investor education webinars — a valuable resource for new traders navigating currency volatility.
7. City Index (StoneX)
City Index Asia Pte. Ltd., operated under StoneX Group Inc., is a global leader in CFD and forex trading. Regulated by MAS, it offers leveraged trading on over 4,000 instruments — including major/minor currency pairs, indices, commodities, and cryptocurrencies.
Its proprietary platform, ATFX WebTrader, delivers powerful analytics, risk management tools, and customizable dashboards. Traders can also use MT4 with enhanced plugins for automated strategies.
With negative balance protection and segregated client accounts, City Index emphasizes safety without compromising performance.
8. CMC Markets Singapore
CMC Markets, headquartered in London, launched its Singapore arm to serve Asia-Pacific clients. It specializes in online forex and CFD trading with tight spreads and deep liquidity.
The platform uses its award-winning Next Generation trading interface — known for its advanced charting capabilities and over 80 technical indicators. Users can set price alerts, create custom watchlists, and simulate trades via demo accounts.
Highly regulated and transparent, CMC Markets appeals to sophisticated traders who value precision and control.
9. IG Markets
IG Asia Pte. Ltd. is the Singapore branch of IG Group Holdings — the world’s first online spread betting provider. It offers forex, index CFDs, commodities, and shares trading through a secure MAS-regulated environment.
IG’s platform features include real-time market data, sentiment indicators based on client positioning, and AI-powered trade ideas. Educational content is abundant — from video tutorials to live workshops.
Its strong reputation for transparency and innovation makes IG a top pick among experienced traders.
10. Saxo Capital Markets
Saxo Capital Markets Singapore is the local arm of Denmark-based Saxo Bank. It provides access to more than 40,000 financial instruments across 27 global markets via its sophisticated SaxoTraderGO and SaxoTraderPRO platforms.
From forex majors like EUR/USD to exotic pairs and emerging market bonds, Saxo offers unparalleled breadth. Institutional-grade tools include algorithmic trading (via FIX API), multi-leg options strategies, and deep research integration.
While geared toward high-net-worth individuals and professional traders due to higher minimum deposits, Saxo delivers elite-level execution and service.
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Frequently Asked Questions (FAQ)
Q: Are currency exchanges in Singapore regulated?
A: Yes, all legitimate brokers and exchanges operating in Singapore are regulated by the Monetary Authority of Singapore (MAS). This ensures compliance with anti-money laundering laws, capital adequacy requirements, and investor protection standards.
Q: Can foreigners open trading accounts in Singapore?
A: Yes, many brokers accept international clients. However, documentation such as proof of identity, address verification, and source of funds may be required during onboarding.
Q: What types of accounts do these platforms offer?
A: Most offer individual trading accounts, joint accounts, corporate accounts, and sometimes custodial accounts for minors. Demo accounts are also commonly available for practice.
Q: Do any of these platforms support cryptocurrency trading?
A: While traditional currency exchanges focus on fiat forex pairs, some — like IG Markets and Saxo Capital Markets — now offer crypto CFDs. For direct crypto-to-fiat trading, specialized digital asset platforms are recommended.
Q: Is leverage available for forex trading in Singapore?
A: Yes, but MAS imposes limits to protect retail investors. Maximum leverage for forex is capped at 20:1 for major pairs and 10:1 for minor/exotic pairs.
Q: How do I choose the best exchange for my needs?
A: Consider your experience level, preferred assets (e.g., forex vs commodities), desired leverage, fees, platform usability, research tools, and customer support quality before deciding.
Final Thoughts
Singapore's financial ecosystem continues to evolve, offering traders access to world-class infrastructure and a wide array of regulated currency exchange platforms. From integrated giants like SGX to specialized brokers like Saxo Capital Markets and IG Asia, there’s something for every type of investor.
When choosing a platform, always verify MAS licensing status and read user reviews carefully. Whether you're just starting out or scaling up your strategy, pairing your skills with the right exchange can significantly enhance your success potential.
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