Which Online Trading Platform Is Best In Singapore? Here’s The Answer

Last updated on December 11th, 2021 at 08:32 am

In this article, we will answer the question; which online trading platform is best in Singapore.

I am not surprised by such a question.

Why?

Because of the number of online trading platforms available today.

But after reading this guide, you will be able to narrow down the number of brokers to only a handful.

And then from there, you can pick the best and those that suit your needs as a trader in Singapore.

But before we get started, let me help you answer another burning question;

What to look for on a trading platform in Singapore

As a trader, what should you be looking for on a trading platform?

There are obvious things like the ability to make you money, which works most of the time. 

Unfortunately, almost all online trading platforms promise you to return on investment.

But let’s face it, only a handful of them actually does that. 

Who are these selected few who stand despite the odds?

That is what we are going to find out now.

First, you need a platform that is user-friendly. 

By this I mean a platform that is easy to use and comes with a shorter sign-up process.

The last thing you want is to waste your precious time learning the complicated system instead of making money online trading in Singapore. 

Instead, get a site that is easy to learn and use the extra time to learn trading strategies.

Secondly, you need an online trading platform that is secure and regulated. 

Is it operating within the law?

Is your money safe with them?

It hurts to lose money due to fraudulent brokers, trust me, I know how that feels.

As such, focus on identifying legal brokers in Singapore.

Thirdly, you are trading online to make a profit, right?

Well, after you have turned some profit, the next thing is to make a withdrawal.

This is why you need an online trading platform in Singapore that supports your preferred money transfer methods.

For example;

It should at least support popular money transfer methods within Singapore. 

This way, you can have your earnings within a reasonable time with fewer headaches.

There are more things to consider, but for now, these are the ones you should consider the most.

6 Best Online Brokers in Singapore

Finding the best online broker in Singapore to invest your money can be a daunting task. 

There are many different brokers for you to choose from, but not all of them will offer the best deals. 

In this section, we will go over 3 of the top online brokers in Singapore that will help you make informed decisions about what company is right for you.

1).  DBS Vickers

First, let’s start with DBS Vickers.

DBS is a great option for new and seasoned investors who want to get started quickly and easily, and the best online broker in Singapore. 

They offer online tools that make it easy for you to trade stocks on your own time while ensuring accurate information at all times. 

It also offers personalized customer service so if you ever need help or have questions, there will always be someone ready to assist you. 

This broker does require minimum deposits of $500 but the upside is that they don’t charge any trading fees like other brokers do (you can find more details here: DBS Vicker Review ).

2). Philip Securities

The second best online brokerage in Singapore 2022 has got to be Phillip Securities. 

With an award-winning mobile app and top-notch research reports, this company has everything you need to make profitable investment decisions. 

The best part about Phillip Securities is that there are no trading fees at all, making it extremely low-cost for investors of any kind. 

You can also try out their app with a free demo account before putting your money where your mouth is (so to speak) so if you’re not sure they’re right for you, take them up on the offer!

Key features;

• Singapore broker with over 45 years of financial expertise and a global presence in over 15 countries
• Access to over 40,000 products across more than 26 global exchanges
• Available financial products include: stocks, ETFs, CFDs, DLC, warrants, bonds, unit trusts, FX, futures, share financing, securities borrowing and lending, excess funds management, IPO financing, HK Pre-IPO, regular saving plans, Robo Advisory, managed accounts, and insurance
• Offers CDP linked account, cash management account, and margin account for stock and bond financing at 3.08% p.a.
• POEMS 2.0: Online trading platform available on both web and mobile
• POEMS 2.0 desktop trading tools include Advanced Order Types, Chart-Live, ChartWhiz, News, Research Reports, Account Management, Stock Analytics, Stock Screener, Trading Central, Web TV, Live Order Notifications, Time and Sales, Enhanced SGX Market Depth, Ticker Streamer, Market Watch, FXInvest, Economic Calendar, Live Positions (Beta)

3). OCBC Investor Services

The third top online broker in Singapore goes to OCBC Investor Services which offers lower minimum deposit requirements than most other companies while still providing some great benefits like access to global resources and research reports. 

They also have mobile apps available but don’t quite stack up against the competition when it comes down to tools offered by DBS and Phillip. 

Still, this company is a great way to get started with low fees and solid customer service so it might be worth checking out if those things are important for you (for more info visit: OCBC Investor Services Review ).

• US$20 – Min. Commission Fee US Stocks
• S$25 – Min. Min. Commission Fee SG Stocks
• S$0 – Min. Funding

4). Tiger Brokers

Fourth, Tiger Brokers is designed for both beginners and experienced investors alike. 

They offer a free demo account as well as powerful tools that let you trade on your own time. 

There are minimum deposits of $500 but there’s no limit to the number of trades you can make – which means it might be a good option if you’re looking to save money with low trading fees (for more info visit: Tiger Brokers Review ).

Key features;

• Offers one of the most competitive commission rates of 0.01USD / Share (minimum US$1.99 / order) on ETF trading
• Gain access to over 3,000 global ETFs from 30+ exchanges worldwide including US, SG, HK, AU, and JP stock exchanges
• Leverage an extensive repository of educational videos and online courses to learn how to invest in ETFs
• Help desk assistance is available 24/5 for any immediate customer service issues

5). IW Bank brokers in Singapore

Fifth, IW Bank is always a safe bet when it comes down to online brokers in Singapore 2022 because they have been around since 2008 and consistently provide great service across the board from apps to research reports. 

The only downside compared to other options is their higher minimum deposit requirements ($2000) though this could be worth it considering IW has no trade fees (for more info visit: IW Bank Review ).

6). Hantec Markets

Lastly, Hantec Markets is great for online traders in Singapore who are extremely active because there are no minimum deposit requirements at all. 

However, they don’t offer as many features compared to other brokers so this might not be ideal if you’re new or just getting started – but it’s worth checking out if being able to invest with minimal risk appeals to you.

These three companies represent the best forex trading platform for beginners in Singapore when it comes down to online brokers in Singapore– how do they compare? 

Best online brokerage Singapore: Comparison

Well, DBS offers some good benefits like research reports and no trading costs but their minimum deposit requirements make them not as beginner-friendly as other options. 

On that note, Phillip Securities allows traders at any level to invest easily while also providing excellent apps and support – plus no trading fees. 

Finally, we have OCBC which has lower minimum deposits than most others but still provides useful tools; however, their customer service is not as strong.

The best online broker in Singapore 2022 ultimately depends on your needs and preferences – but the three companies listed here are all great places to start. 

If you’re still unsure, take advantage of the free trials offered by each company before making a final decision. All three offer apps for traders on the go which makes it easy to make trades while out and about or sitting at home!

While these aren’t the only best online brokers in Singapore, each of them offers something unique that can benefit different kinds of investors depending on their needs and goals.

Then there are online trading platforms in Singapore.

Let us look at them;

Which online trading platform is best in Singapore?

Now, we are going to look at some of the best online trading sites in Singapore.

I will take a step further and show you how to open an account with each and place your first trade for free.

Ready?

Let’s get started, shall we?

Olymp Trade in Singapore

Who is Olymp Trade in Singapore?

Olymp Trade is an online trading platform that offers you a unique chance to turn as little as $10 (that’s about 13.32 Singapore dollars) to profit and is one of the best trading platform in Singapore.

And from that, you can place trades with a minimum of $1.

With this broker, you can trade on things like;

• Currencies
• Commodities, as well as for
• Cryptocurrencies among other instruments.

As of the time of writing this article, Olymp Trade has over 25 million user accounts.

Also, the broker is paying out over $8 million per month, and you can be among them.

Is Olymp Trade legal in Singapore?

Is online trading legal in Singapore?

Yes, It is legal to trade Fixed Time Trades (FTT) and Forex with Olymp Trade in Singapore. 

Besides, Olymp Trade complies with IFSC regulations, thus, is a legitimate Digital Options and CFD trading platform provider since 2014. 

Additionally, Olymp Trade accepts traders from Singapore. 

So, the answer to the question; is Olymp Trade legal in Singapore, is yes, it is legal in Singapore.

Moreover, the quality of the platform’s trade execution is certified by the Verify My Trade independent examination.

Why Olymp Trade Singapore?

Besides what you already know, here are some other reasons to use Olymp Trade in Singapore.

• You can start trading with a minimum deposit of $10.
• All client’s funds are insured through the International Financial Commission (of up to $20K per claim). Your money is safe
• The best customer support. Olymp Trade support team is active on social media.
• You also get a free demo account. Here is how to get started

How to use Olymp Trade in Singapore

To trading on Olymp Trade Singapore, you need to create an account.

Use the form below??

Go register here.

Go ahead and click on Start Trading (it is free).

Alternatively, you can use the Registration button (top right corner).

Provide your email and password. Make sure the email is valid because you will need to verify it.

Alternatively, you can use either Apple, Facebook, or your Google account.

Remember to pick your currency and verify you are over 18.

Is Olymp trade legal in Singapore?

Yes, it is legal to trade on Olymp Trade Singapore. You can trade Fixed Time Trades or Forex anytime.

Next answer to which online trading platform is best in Singapore;

IQ Option in Singapore

IQ Option is another one of the best online trading platform in Singapore. 

Started in 2014, the same year Olymp Trade came into existence as well, IQ Option has since grown into the giant it is today.

Here are the markets you can trade in Singapore;

• Options
• Forex
• Stocks
• Crypto
• Commodities
• ETFs

Today, the broker boasts over 47 million users with over 1.3 million trades per day. Still, in numbers, over $20 million is withdrawn every month on IQ Option.

What does this tell you?

People are making money on the platform, and so should you. If you are worried about legal issues, here is the answer.

Is IQ Option Legal in Singapore?

Trading with IQ Option is not illegal in Singapore, so you are welcome to open a trading account on the platform, deposit, trade, and withdraw your profits any time you want.

How to register on IQ Option in Singapore

To open an IQ Option account in Singapore, follow these steps.

1.   Go to the IQ Option website using this link

2.   Click on Sign up.

Provide your first and last names, choose country, your email or phone number, password, and then tick on the box to verify you are over 18.

3.   Verify email

Go to your email inbox and locate an email from IQ Option. 

Open it and click on it to confirm your email.

From there, you will be redirected to the trading room.

You can read more about opening an account here.

Next answer to which online trading platform is best in Singapore…

ExpertOption in Singapore

ExpertOption is another online trading platform you can use in Singapore.

The company is founded with a vision to create a 100% transparent trading experience for traders like you.

The broker provides easy to use trading platform and spends lots of time providing education for their clients.

As you know, numbers don’t lie.

ExpertOption has over 55 million users with over 30 million trades every month.

Is Expert Option legal in Singapore?

ExpertOption is legal in Singapore. 

How to get started with ExpertOption

Follow these steps to open an ExpertOption account in Singapore.

a.   Go to the ExpertOption website (use this link)  

b.   Click on Real Account

Provide your email and password. Tick the box to accept the terms and click open account.

Alternatively, you can use either your GMAIL or Facebook account.

Wrapping up best trading sites in Singapore

Just to recap, these online trading platforms are the best in Singapore;

• Olymp Trade
• IQ Option
• ExpertOption