Unlike the older days now there are many trading options and many trading platforms as well. Different trading platforms provide their services in different parts of the world and one of them is Singapore. When we talk about trading in Asia, Singapore is one of the biggest places in terms of trading. According to stats, there were trades worth around $5 trillion in Singapore alone last year.
It means that Singapore brings many opportunities for the trading of different types. One of those types that we will be discussing here is Options Trading Singapore. It is a little different than some other trading types and here is all that you need to know about it.
Best options trading brokers Singapore
What are options trading?
Before we dive right into options trading, it is important to know a little about the options. So, when we discuss options in the trading context, options represent contracts. These contracts are linked to any asset that could be a stock, a commodity, or anything else.
Now coming towards options trading, it gives you the right to make contracts and then sell or buy contracts according to a specific price at a specific time and date. Upselling brings profit while you can also bear the loss if you have to buy at higher prices and sell at lower prices.
How to trade options in Singapore?
Now that you have the basic idea of what is options trading, here we will elaborate on how it works in detail. A major misconception here is that when you buy an option you buy the asset that underlies the contract that you bought.
However, this is not how options trading works. Say that you bought a contract, now you will have the right to sell or keep that contract at a specific price for a specific time. In this way, you can buy and sell contracts, and this will help you earn money. Buying can be done with a call option while selling comes with a put option.
Best options trading Singapore platforms Reviewed
When we take a look at the market of Singapore, we see a lot of trading platforms offering their options trading services. So, we did thorough research, and we were able to shortlist some of the best platforms in Singapore that provide the best options trading services. Here are the best platforms that you can go for.
AvaTrade is the best options trading platform choice in Singapore because it brings the perfect blend of features and reliability. It is a very reliable option because it comes under many tier-1 regulations around the world. Now coming towards the trading options, it brings many trading options for you including options trading.
Considering these options, you can also call it a one-stop trading platform for you in Singapore. AvaTrade brings some trading tools that can assist you in many online trading activities. So, if you are a beginner, it might be the right platform to start with. AvaTrade brings the following benefits to its users:
- Easy to meet minimum deposit requirements
- Different account types
- Cheaper fees
Plus500 is a CFD trading platform that is established in Israel, and it is known around the world for its exceptional trading functionalities and experience. You do not need to worry about reliability or safety because it operates via a subsidiary that comes under the regulation of MAS.
The trading experience on Plus500 is also pretty amazing as the platform provides a wide range of options CFDs and user-friendly tools and features. It also allows going for different account types (demo and real money account)to meet your requirements. Some benefits of Plus500 include:
- No commissions for options CFD trading. Spreads apply.
- Friendly deposit methods and fee.
- Instant transfers depending on which method you went for.
3. IQ Option
If you are among those traders who need the best reliability, then IQ Option is the trading platform that you need to go for. It comes with CySEC regulation meaning that everything will be reliable, safe, and secure. Trading options here can be a little tricky for beginners because of the binary and digital options methodology used here.
The interesting thing is that there are more than 90 different assets that you can trade on. So, options trading with IQ Option can be a fun thing for many investors and traders. IQ Option brings many benefits including:
- Different account types
- No fees
- Easy deposits and withdrawals
Different trading platforms come with different unique qualities. The one about IG is that it is one of the oldest trading platforms available today in the financial world. With over 30 years of service, it comes under the regulation of many tier-1 authorities so there is no need to worry about the safety and reliability options.
IG is a trading platform that focuses on user-friendly features to provide an amazing experience. Here are some benefits of going with it:
- Minimum deposit requirements are low
- World-class research tools are available
- Amazing customer support for Singapore
5. Saxo Markets
The last trading platform that we will be discussing here is Saxo Markets. It is a good choice for beginners in the world of options trading because of its UI features and the experience of trading. To make things even better for beginners, Saxo Markets provides an amazing customer support team for Singapore.
Saxo Market provides trading options for both web platforms as well as mobile platforms. Additionally, the mobile app is available for both iOS and Android platforms. Below are some advantages of choosing Saxo Markets:
- Cheaper trading fees
- No deposit or withdrawal fees
- Industry-leading trading platforms
These were the best options for trading Singapore platforms.
Options trading counts among the most effective and profitable trading techniques that you can try. According to stats, there were around 39-million options contracts on average per day in 2021. This was with a significant increase from the year 2020. So, it means that options trading might be your perfect choice to start earning with trading.
Options trading Singapore might be fascinating at first, but it is important to do proper research. Always choose your options trading Singapore platform after considering every aspect so that you get the best value and experience.