The trading world has come a long way now. In the earlier times, there were brokers, traders, and a lot of other middlemen that increased the cost and decreased the loss of trading. However, now things have become very different with online trading opportunities. Online trading platforms have made trading around the world significantly easy and the same goes for Singapore.
Singapore counts among the largest trading venues in the whole of Asia because there were more than $1 billion in trades last year. This has only been possible because of the availability of a large number of trading platforms in Singapore. So, if you are also looking for the best trading platform Singapore , you are at the right place. Here we will guide you about the top trading platforms that you can select in Singapore.
Best Trading Platforms in Singapore
Top Trading Platform Singapore Reviewed
1. Interactive Brokers
Interactive Brokers has been providing exceptional services since 1977. Although it is a US-based trading platform, it comes with a long list of global regulations making it one of the biggest trading platforms in the world. So, it can be a very safe choice for you. To ensure the best safety of its users, it comes with a 2FA login.
Coming towards the features and benefits it brings an application that makes trading and investment very easy. Additionally, you can get different alerts here making monitoring your trades and expected trades efficient. To provide a better trading experience it comes with tighter margins and lower rates. In this way, Interactive Brokers also keeps things competitive in the Singapore market.
Pros
- Interactive Brokers has a low trading fee in comparison
- There is a wide range of products available
- Interactive Brokers provides several research tools
Cons
- The account opening process is not that simple.
2. Saxo Bank
Next up on the list is Saxo Bank, which is not as old as Interactive Brokers, but it has been providing its services since 1992. The online investment and trading services you get here are exceptional in every way. As it is also a global trading platform it also comes with many global regulations making it very safe and reliable.
However, it is important to note that different locations get different services and options from Saxo Bank. Speaking of its fee, some things have no fee at all while others have a low fee. However, you still need to be a little careful because the pricing model is a bit mixed here.
Pros
- It provides amazing research tools
- There is a wide array of trading options available
- There is no withdrawal fee here
Cons
- The minimum deposit requirement might be higher for some people.
3. TD Ameritrade
TD Ameritrade is another US-based trading platform providing its services to the people of Singapore. TD Ameritrade has been there since 1975 and today it is a great choice for people who have lots of trading experience. In this way, the research tools provided at TD Ameritrade bring amazing opportunities to make good profits for experienced traders.
Like most of the top trading platforms in Singapore, it also comes with many global regulations to ensure that you are trading on a safe platform. 2-factor login makes this trading platform further secure. While there are amazing features and functionalities, things like deposits and withdrawals need a little work to be done for bringing better options.
Pros
- Trading fees are low on different trading options
- TD Ameritrade provides one of the best customer support experiences in Singapore
- Amazing mobile and desktop user experience
Cons
- It brings options to trade only US markets.
4. Capital
Capital.Com might be one of the youngest options that we are going to share here because it comes from 2016. However, it is only because of its reliable platform and its amazing trading features that it has made its way into our top 5 options for you.
Some traders often look for good customer service and Capital.com makes the best choice in Singapore for such traders.
Pros
- Trading fees and commissions are extremely low
- The account opening process is simple and easy
- Customer support is available over chat as well as email
Cons
- Not a lot of options for different currency
5. Oanda
The last platform that we will be discussing here is Oanda and it is a private trading platform that comes with worldwide regulations. While the security and safety of usage come as standard for all Oanda users, the features may differ depending on your location and account.
To bring an immersive trading experience you can use the web platform as well as the mobile trading platform of Oanda. The good part is that it brings additional features like notifications and price alerts to enhance the trading experience for you.
Pros
- Amazing research tools are available
- The account opening process is quick and simple
- You get one free card withdrawal every month
Cons
- Customer support is not available 24/7
Our considerations for selecting the best trading platform Singapore
There are not a lot of things that a trading platform brings. However, bringing the best quality in the few things it brings can make a major difference. For our selection of the best trading platforms in Singapore, we were mainly considering the following things:
- User experience on mobile and desktop trading platforms
- Fees and margins
- Reliability and safety
- Deposit and withdrawal ease
- Range of trading products
The above 5 trading platforms brought all of these things in the best way for traders in Singapore.
Final Verdict
Even though there are a lot of choices available in Singapore, not each of them can be your best trading platform. The reason behind it is that every trading platform focuses on different things and features.
So, when choosing your best trading platform Singapore, you must list out your requirements first and then decide. It is because around 79% of traders lose their trades because of selecting the wrong provider. In this way, your decision will be much better for your trading experience.
