Trading today has become very different from how trading used to be a few years ago. Now there are a lot of different things that you must consider for successful trading. While some people only concentrate on selecting the right platform, it is also important to select the right trading strategy. There are different trading strategies and one of them is Day Trading Singapore.
An interesting thing is that the competition in Day trading is not that tough. It is because 80% of traders leave this strategy in the first 2 years of their trading journey. However, day trading Singapore needs you to stay certain about different things and here we will consider all of them.
Best Day Trading Singapore Platforms
The significance of Day Trading Singapore
When we talk about trading the usual idea is to buy and then wait for the prices to go up. The prices keep on fluctuating at short intervals. However, a major price hike or drop only happens after some time. The significance of day trading is that the traders do not hold their trade for a long time. There is no waiting for days or weeks to see if they are making a profit or not.
So, whatever instrument they are trading on they sell it within the day while locking small profits. Usually, this trading practice helps in earning profits or retaining the amount at least. This makes it somewhat better than holding trades for a long time; however, it is also based on luck for the most part.
Top Day Trading Brokers Singapore Reviewed
Tiger Brokers
Tiger Brokers is the trading platform offering its services in Singapore that brings many features and services. The reason for it being on the top of our list is that it comes with the lowest fees for day trading and other types of trading.
Moreover, it comes with call support as well as email support to bring reliability for the traders. Along with all of these things, you can trade on different markets and commodities from one account in Singapore.
POEMS
POEMS comes among the oldest trading platforms and online brokerages in Singapore. It provides trading options for more than 40000 different types of products. While it has been in service for over 40 years, currently its services are available in 15 different countries. While the trading options are amazing here, you will be amazed by how user-friendly withdrawals and deposits are.
City Index
Although it is not a local trading platform in Singapore, it maintains an excellent trading experience. In terms of platform security, it brings several regulations including MAS meaning the best reliability. Another thing that makes City Index a very reliable platform to go with is that it has a serving history of 38 years making it one of the oldest platforms.
City Index brings many attractive things for beginners including low minimum fees as well as welcome gifts.
IG
IG is one of the world’s leading trading platforms. If you want to go for day trading in Singapore, you can choose it as your main platform because of the tools and features it brings. IG comes with the regulation of several authorities around the world making it very reliable. Additionally, it has a good history of being the most reliable platform available.
IG allows you to trade in thousands of markets with its amazingly easy-to-use UI. Moreover, it comes with web and mobile application platforms to make things convenient. IG also makes a good option for beginners because its Academy can provide them with the start they need.
Moomoo
Yet another amazing platform that is operational in Singapore. Moomoo offers a ton of features and tools for its users while charging the least fees possible. This is what makes it a good option for day trading in Singapore. As it is a local platform there will be no complaints regarding customer service.
How can you choose your best day trading platform?
While the trading technique and timing matter the most in day trading in Singapore. It is also important that you select the right trading platform for day trading. It is because all the trading platforms in Singapore don’t provide the best day trading experience by different means. So, here is how you can select which platform is best for your Day Trading Singapore needs
Security
Security and reliability are the first and the biggest thing you must look for. Different trading platforms come with different regulations. It is better to look for one that comes with the most international regulations. However, looking for MAS regulations is the best for people in Singapore.
Cost
The next thing is the cost that you have to pay for their services. There are a few different ways of charging users that include:
- Fees of deposit and withdrawal
- Trading fees
- Commissions
What you need to do is to look for the options that bring the cheapest options for you. In this way, your earning opportunities will increase.
Features
Another important thing to look for is the set of features. Here we are not talking about things like trading options offered. Instead, you need to look for the features that will enhance your experience. Different features include:
- Education
- Data and news availability
- Analytical features
- Technical features
- Mathematical strategies and more
In all of these things, you must look if your day-trading needs are fulfilled or not.
Research tools
The last thing that you need to look for is research tool availability. Whether you are a beginner or an experienced trader, getting quality research tools can always help in increasing your winning chances.
Final Verdict
Day Trading Singapore is a trading technique that has around 12% volume of the whole trading world. According to stats, this is going to increase in the coming years with increasing trading options in the whole world. So, if you are planning to start your trading journey it could be the right thing to start with.
We hope that now you know how you can select the best Day Trading Singapore platform for a better experience.