The MetaTrader platform has become one of the most popular trading platforms amongst retail forex and CFD traders. Its intuitive interface, customizability, and automated trading capabilities have made it a favourite for many traders worldwide. Singapore has emerged as one of Asia's leading financial hubs, with a vibrant community of retail forex and CFD traders. Several brokers offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms to traders in Singapore. In this article, we take a look at some of the best MetaTrader brokers available for Singapore-based traders.
Singapore's financial regulatory body, the Monetary Authority of Singapore (MAS), has licensing and regulatory requirements in place for brokers to legally offer trading services to retail traders in the country. All the brokers mentioned below are licensed and regulated by the MAS.
Ranking of the best Forex brokers in 2023 the world
💥💥💥💥💥 Exness Top1 Best Broker - Link Open Account 👈
💥💥💥💥XM Top2 Best Broker - Link Open Account 👈
💥💥💥XTB Top3 Best Broker - Link Open Account 👈
💥💥HFM Top4 Best Broker - Link Open Account 👈
Exness
Exness is a global multi-asset broker that offers trading across forex, metals, energies, indices, stocks, and cryptocurrencies. Founded in 2008, the broker services clients in over 180 countries and has processed over $1 trillion in trades.
Exness offers the MetaTrader 4 and MetaTrader 5 platforms, available as desktop, web, and mobile versions. Traders can access over 80 currency pairs and CFDs across various asset classes. The broker is known for tight spreads and fast execution speeds, starting from 0.1 pips on Razor accounts.
The key strengths of Exness include:
The only downside is that Exness has limited research and education resources compared to other brokers. Overall, Exness offers a reliable and efficient MetaTrader trading experience.
Here Is The Summary Of This Exness Review
XM
XM is a leading multi-asset broker founded in 2009 that offers online trading across forex, precious metals, energies, stocks, indices, and cryptocurrencies. XM services over 3.5 million clients from across 196 countries.
XM offers MetaTrader 4 and MetaTrader 5 platforms for traders. You get access to over 1000+ instruments across major asset classes. Execution is fast with spreads from 0 pips on the XM Zero accounts. The broker offers high leverage up to 1:888 depending on the account type.
Key advantages of trading with XM include:
The only minor limitation is the lack of stocks and ETFs compared to other CFD brokers. Overall, XM is one of the top choices for MT4 and MT5 forex and CFD trading.
XTB
XTB is a leading European brokerage that offers multi-asset trading across forex, stocks, indices, commodities, ETFs, and cryptocurrency markets. Founded in 2002, the broker serves over half a million clients worldwide.
XTB offers MetaTrader 4 and MetaTrader 5 platforms for traders along with its proprietary xStation platform. You get access to over 4000+ instruments across asset classes. A key highlight is the availability of over 1600+ global stocks on the MT5 platform. Execution speeds are fast with average spreads as low as 0.1 pips.
The major pros of trading with XTB include:
The range of tradable assets could be wider when compared to other CFD brokers. But overall, XTB stands as a great choice for stock and ETF traders who prefer MetaTrader platforms.
IC Markets
IC Markets is a popular Australian forex and CFD broker that offers online trading across currencies, commodities, indices, stocks, and cryptocurrencies. Founded in 2007, the broker serves clients from across the globe on its MetaTrader and cTrader trading platforms.
IC Markets offers MetaTrader 4 and MetaTrader 5 suites for forex and CFD trading. You get access to over 232 instruments with spreads starting from 0 pips on the RAW Spread accounts. Execution speeds are fast with servers across global data centers.
The key strengths of IC Markets include:
The broker could improve on its education resources beyond trading platforms. But overall, IC Markets delivers a standout MetaTrader trading experience.
Tickmill
Tickmill is a UK-based brokerage that offers clients online trading access across forex, indices, stocks, commodities and cryptocurrencies. Founded in 2015, Tickmill services clients globally across multiple regulatory jurisdictions.
Tickmill provides the MetaTrader 4 and MetaTrader 5 suite for forex and CFD trading. You get access to over 60 currency pairs along with metals, energies, indices, and share CFDs. The broker is known for its fast execution with spreads from 0 pips on the Pro account.
The key highlights of Tickmill include:
Tickmill could improve on expanding its tradable assets. But for fast forex and CFD trading, Tickmill delivers a great MetaTrader experience.
Plus500
Plus500 is a leading CFD brokerage that offers online trading across forex, stocks, indices, ETFs, options, commodities, and cryptocurrencies. Founded in 2008, Plus500 serves clients across 50+ countries and has processed over $340 billion in transactions.
Plus500 offers the MetaTrader 5 platform along with its proprietary trading app. You get access to over 2500+ instruments with market-leading spreads. The broker is regulated across multiple jurisdictions including Australia, UK, Cyprus and South Africa.
The key advantages of Plus500 are:
The major limitation is that Plus500 doesn't offer the MT4 platform. But overall, it remains a great choice for trading derivatives across global markets on MT5.
IG
IG Markets, branded as IG, is a leading UK-based brokerage that offers online trading across forex, stocks, indices, cryptocurrencies, commodities, and more. Founded in 1974, IG has expanded across global markets and processes over 2 million trades each month.
IG offers MetaTrader 4 and MetaTrader 5 trading platforms along with its proprietary web and mobile apps. You get access to over 17,000+ tradable products. Key features are tight spreads, fast execution, and flexible leverage. IG also provides market research, education, and risk management tools.
The key strengths of IG Markets include:
IG is well-suited for active traders across market segments who prefer the MetaTrader suites. The only limitation is the higher average spreads compared to ECN brokers.
OANDA
OANDA is an award-winning global forex and CFDs brokerage catering to both retail and institutional traders. Founded in 1996, OANDA was a forex trading pioneer developing one of the world's first currency calculators and online trading platforms.
OANDA offers MetaTrader 4 and MetaTrader 5 platforms, available on desktop, web, and mobile. You get access to over 180 currency pairs, commodities, indices, and metals. A key highlight is OANDA's transparent in-house pricing derived from leading bank rates. Spreads are competitive starting from 0.4 pips.
The major advantages of OANDA include:
OANDA doesn't offer trading in individual stocks or cryptocurrencies. But for forex and CFD traders, it remains a top choice for its pricing transparency and powerful trading platforms.
Vantage FX
Vantage FX is an Australian brokerage that provides online trading access across forex, metals, energies, indices, shares, and ETFs. The broker serves retail and institutional traders across multiple jurisdictions and offers MetaTrader platforms.
Vantage FX offers MetaTrader 4 and MetaTrader 5 platforms for forex and CFD trading. You get access to over 250+ assets including major and exotic currency pairs. The ECN-style RAW account offers spreads from 0.0 pips along with market-leading execution speeds.
The major advantages of Vantage FX include:
Vantage could improve on expanding its education resources. But for seamless MetaTrader trading across forex and CFDs, Vantage FX delivers an excellent solution.
AvaTrade
AvaTrade, formerly Avafx, is an industry-leading brokerage that provides online trading across forex, cryptos, stocks, indices, commodities, and more. Founded in 2006, the Irish broker caters to over 200,000 clients globally and executes over 2 million monthly trades.
AvaTrade offers both MetaTrader 4 and MetaTrader 5 platforms for forex, CFD and crypto trading. You get access to a diverse range of over 1000+ instruments from top markets. Spreads are competitive starting from 0.9 pips and great flexibility is provided with the account options.
The key strengths of AvaTrade include:
The range of tradable assets is one of the largest offered. For diverse trading with MetaTrader platforms, AvaTrade is a top choice.
Is MetaTrader 4 legal in Singapore?
The legality of using MetaTrader 4 and trading currencies online depends on whether the broker is regulated by the Monetary Authority of Singapore (MAS). MAS is the primary financial regulatory body in Singapore, and any firm offering financial services needs to be authorized by them.
Unregulated brokers lure customers by offering tighter spreads and higher leverage. However, trading with them comes with significant risks, including:
Hence, it is strongly recommended to open a MetaTrader account only with an MAS-regulated broker. They have to follow strict rules related to capital requirements, segregated accounts, regular audits, and fair trading practices.
Here are some of the best MAS regulated brokers that offer excellent MT4 services:
Best metatrader brokers in singapore for beginners
Beginner traders in Singapore have specific needs when opening a MetaTrader 4 account. Here are key factors to consider:
Educational Resources
When starting out, you need to learn the basics of technical analysis, developing a trading plan, risk management etc. Look for a broker that offers a MetaTrader4 demo account, how-to guides, video tutorials, webinars and in-person seminars. IG, CMC Markets and Pepperstone have an extensive range of educational resources.
Low Minimum Deposit
You don’t want to put a large amount of capital at risk when first learning how to trade. Brokers like IG and CMC Markets allow you to open an account with just $200 SGD minimum deposit.
Customer Support
Having 24/7 multilingual customer support via Live Chat, phone and email is useful when you have questions starting out. Pepperstone is known for its award-winning customer support.
Copy Trading
Social trading platforms like Sirix from CMC Markets allow beginners to copy positions taken by more experienced traders. This takes the complexity out of trading.
Limited Leverage
While brokers may offer leverage as high as 500:1, restrict yourself to a maximum of 30:1 leverage when starting out. High leverage could lead to devastating losses beyond your initial deposit amount.
What is the best broker for MetaTrader?
Here is a comparison of popular brokers for Singapore traders using MetaTrader 4 based on key criteria:
Broker
Regulation
Minimum Deposit
Spreads
Platforms
-
-
-
-
-
IG
MAS
<$200 SGD
From 0.8 pips
MT4/MT5 + Proprietary Platform
CMC Markets
MAS
<$200 SGD
From 1.2 pips
MT4/MT5 + Next Generation
Pepperstone
MAS
<$200 SGD
From 0.0 pips
MT4/MT5 + WebTrader
Interactive Brokers
MAS
<$10,000 SGD
From 0.2 pips
MT4/MT5 + Traders Workstation
Based on the combination of tight spreads, good platform choice, customer service and comprehensive educational resources, both IG and CMC Markets stand out as the top MetaTrader brokers in Singapore.
Pepperstone also offers ultra competitive pricing but has higher minimum deposit requirements. Interactive Brokers provides great pricing too but is more suitable for advanced traders rather than beginners.
Choosing the Best Singapore Forex Broker: A Comprehensive Guide
When choosing a Forex and CFD broker for trading with MetaTrader 4 in Singapore, some key factors to consider are:
1. Regulation
Ensure broker is regulated by the MAS. Avoid off-shore brokers registered in exotic locations. MAS regulation ensures your funds are protected.
2. Trading Products
Select a broker that offers a wide range of trading instruments including Forex, CFDs on indices, commodities, cryptocurrencies, bonds and individual stocks. This allows you to diversify your trading portfolio within a single account.
3. Trading Platforms
The broker should provide access to both MT4 and MT5 platforms. Also check if they offer advanced web and mobile trading platforms for a seamless experience.
4. Execution Quality
Whether you get fair pricing and guaranteed execution of trades depends on the efficiency of the broker’s systems and depth of liquidity providers. Check reviews and compare spreads/commissions.
5. Account Funding and Withdrawals
Convenient methods of depositing and withdrawing in SGD is essential. Check if options like debit/credit cards, bank transfer and e-wallets are supported.
6. Research and Education
For successful trading you need quality market research, analysis tools, educational resources and daily news/commentary. Ensure broker provides extensive materials for self-learning.
FAQs
What are the most popular MetaTrader Brokers in Singapore?
Some of the most popular MT4 and MT5 brokers in Singapore are Exness, XM, XTB, IC Markets, OANDA and Vantage FX. These brokers cater well to the needs of Singapore-based retail forex and CFD traders.
Is it legal to trade with international brokers in Singapore?
Yes, you can legally trade with international brokers as a Singapore resident provided they are regulated by a major financial authority like the UK FCA, ASIC Australia, CySEC Cyprus or other recognized bodies. Most brokers accept clients from Singapore.
Which broker offers the lowest spreads on MetaTrader?
The ECN brokers Exness, IC Markets, and Vantage FX offer some of the lowest spreads starting from 0 pips on their premium accounts. XM also offers 0 pip spreads on certain account types. These make for good choices to keep trading costs low.
Can I engage in hedging on MetaTrader platforms?
Yes, many brokers like IG and Plus500 allow hedging on their MetaTrader platforms. This allows you to hold opposing positions in the same instrument to mitigate risk. Choose a broker that allows hedging based on your trading strategy needs.
Which broker offers the widest variety of instruments on MT4/MT5?
AvaTrade and IG Markets offer the largest variety of tradable assets on their MetaTrader platforms numbering over 1000+ across forex, stocks, indices, commodities etc. Plus500 and XTB also offer a good range of CFDs across global markets.
Conclusion
MetaTrader remains the most popular retail trading platform even as technology evolves. The top Singapore brokers highlighted above deliver reliable and high-quality access to MT4 and MT5 suites for forex and CFD trading.
While all recommended brokers are regulated and authorized for offering trading services in Singapore, you should evaluate them across factors like tradable assets, commissions and spreads, execution quality, and risk management tools. This will enable you to choose the broker that best suits your trading style and requirements.
