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Help Center

You can find important trading FAQs right here. The world of trading can be a little daunting for new investors. A lot of new traders don’t understand a lot of the things they need to know about.

As a way to make things easier for new traders, our team has put together all of the most important questions we could think of to answer them. All the most common questions about online trading platforms in Singapore will be answered on this page, and they will be answered in great detail.

Best Trading Sites Online

Platform Deposit Rating Description Trade
fpmarkets Singapore
  • Most Trusted, Fully Licensed & Largest Forex Broker
  • End-to-end digital workflow platform
  • Accept Crypto, SGD Bank, Paynow. Deposit within 5min, withdrawal within 15min
Visit Site
FXCC Singapore
100% Bonus
  • No.1 Trusted Trading Platform in Singapore
  • Accept Singapore Dollar
  • 100% First Deposit Bonus
Visit Site
Plus500 Singapore
  • The best trading app in Singapore
  • No commissions for trades
  • Alerts on price movements
Visit Site
Fusion Markets Singapore
  • Non-trading fees & Very Low trading fees
  • Excellent customer service
  • Tight Spreads Broker
Visit Site
Eightcap Singapore
  • Quick & Seamless account opening
  • MT4 & MT5 platforms are available
  • No fees for deposits and withdrawals
Visit Site
HYCM Broker Singapore
  • Real Singaporean broker
  • Very Low forex and CFD fees
  • Broker accepts SGD
Visit Site
MMC996 platform Singapore
  • Real Singaporean platform
  • Over 65 global currency pairs
  • Broker accepts SGD
Visit Site
BlackBull Markets Singapore
  • Official Sponsor for 3-Time Motorsport Champion Tom Alexander
  • Wide range of educational tools
  • Top 5 Trading Platform Singapore in Google
Visit Site
Avatrade Singapore
  • Singapore No.1 online platform
  • Fast user-friendly account opening
  • Great markets research tools
Visit Site
XM broker Singapore
  • Low spreads as low as 0.01%
  • True Singapore online broker
  • Market Execution of Less than 1 Second
Visit Site
easyMarkets Singapore
  • Lower Spreads Platform
  • Official Partber Spanish Club Real Madrid
  • Top Singaporean trading broker since 2015
Visit Site
LegacyFX platform
  • Excellent VIP Offers
  • Widest Trading Selection
  • MetaTrader 5 available
Visit Site Broker Singapore
  • 20% Bonus Up To $5000
  • Trade with SGD
  • Top Financial Markets to Trade
Visit Site
Olymp Trade Platform Singapore
  • Clean, intuitive and easy-to-use trading interface
  • No fees and Low commisions
  • Accepts wire transfers from SG banks
Visit Site
exness broker Singapore
  • Highly safe, reliable and trusted Singaporean trading app
  • Countless number of FX pairs
  • Best Multiple trading platforms
Visit Site

Top Online Trading FAQs 2022

Online Trading FAQs

Can I change my registered bank account from a trading platform?

Yes, you can. For most brokers, you will first need to ensure that you have zero balance in your account.

You can contact your broker’s customer service team via live chat or email to change your registered bank account.

Are there any bank charges?

Yes, however most brokers does not impose any bank charges on their clients.

Various banks may impose charges when there is a local or international fund transfer e.g. Remitting bank (User), the Beneficiary bank, the Intermediary bank or others.

Some of the scenarios as follow:

When a user makes an international fund transfer of USD 100 to a broker, they may have to choose one of the following charge options.

However, there are cases where charge options may not be available in certain banks and “SHA” is the default charge option selected.

a) BEN: Charges are borne by the broker

A broker bears all charges of the banks engaged in the transfer of the payment. User only pay the remittance amount. All charges (Remitting bank’s as well those of the Intermediary and Beneficiary banks, etc.) will be deducted from the remittance amount and your Beneficiary will receive the remaining balance.

Outcome: A broker will receive USD 100 less the Remitting Charges and Correspondent Bank Charges.

b) SHA: Charges are shared between User & broker
User pay for the Remitting bank’s charges and the remittance amount. A broker bears the charges of all the other banks’ (the Intermediary and Beneficiary banks, etc.), which will be deducted from the remittance amount. A broker will receive the remaining balance. This is the most common type of charge, where each party bears their respective charges.

Outcome: A broker will receive USD 100 less the Correspondent Bank Charges.

c) OUR: Charges are borne by User

User bear all charges of the payment, i.e. the remittance amount, Remitting bank’s charges, as well as all the other banks’ (Correspondent, Intermediary and Beneficiary banks etc.). The charges are debited from User indicated account after the exact amount has been identified. For cases where a broker has “OUR” arrangement with its correspondents, it will debit the agent charges upfront.

Outcome: A broker will receive USD 100 in full.

Is there a limit for deposit and withdrawal?

It depends on the broker. Most platforms do not have minimum amount for deposits.

For withdrawals, usually there is a minimum limit of USD 100 and there is no maximum limit.

How long does it take to process my deposit or withdrawal requests?

It varies from broker to broker. In most cases It takes 1 business day for local fund transfer and up to 3 business days for international fund transfer.

Are these trading platforms listed available to users worldwide?

Yes, these platforms accept all international users.

What are the trading hours?

You can trade on the platforms 24/7.

What is the difference between using the mobile trading app and desktop version?
There is no difference. Both options provide users to trade with ease and convenience.

What are the benefits of trading gold online?

You may incur handling, valuation and testing fees from banks and retail gold dealers when you buy or invest in physical gold. With these fees, and the difference in the buying and selling price of gold at banks, it would greatly reduce the actual profit and returns on your investment.

Gold trading on our platforms does not incur any of such fees and this translates to greater profits for all our users.