Best CFD Trading Platform in Singapore

What happened?

CFD trading platforms in Singapore have been under the spotlight recently.

This came after the Monetary Authority of Singapore (MAS) and Singapore Police Force (SPF) announced that two overseas CFD trading platforms - Octa and XM, will be blocked in Singapore from 20 Jun 2025. 

This is because these CFD trading platforms offered leveraged foreign exchange, commodities, indices and equities trading to Singapore customers without licences under the Securities and Futures Act (SFA).

CFD, or Contracts for Difference, are leveraged products that allow traders to take larger positions with a small upfront margins. This amplifies both your potential profits and losses.

From this development, I thought it is worth highlighting that we should always make sure we are trading with a broker licensed and regulated by the Monetary Authority of Singapore (MAS).

This led to me to find out which are some MAS-regulated CFD trading platforms available in Singapore, and how they compare on spreads, commission and financing charges, product range as well as platform features. 

Best CFD Trading Platform in Singapore

CFDs are a way for traders in Singapore to take a view on global markets, from stocks and forex to commodities, without owning the actual asset. 

But for traders in Singapore, it often comes down to Choices, Fees, and Decisions.

Whether you’re just starting out or already an experienced trader, we break down the fees, product range, usability, and key features of each.

FOREX.com (Formerly City Index)

FOREX.com (formerly City Index) is a well-established UK broker offering tight spreads and robust CFD research tools for traders seeking both FX and equity exposure.

Not only is it licensed by the MAS since 2006, it is also backed by the NASDAQ-listed StoneX Group.

• Spreads & pricing: FX spreads from ~0.5 pips on major pairs; no commission on FX and index CFDs (costs rolled into spreads).
• Fees: No deposit/withdrawal fees; S$15/month inactivity fee after 12 months dormant.
• Equity/Index CFDs: Access to thousands of global share and index CFDs; stock CFDs incur a commission (~0.08% per trade).
• Platforms & analytics: Supports MT4, proprietary Web Trader, and TradingView integration. Offers research tools including Trading Central, Chasing Returns insights, and performance analytics.

FOREX.com delivers competitive pricing, an expansive range of equity and index CFDs, and research capabilities for traders who value both depth and analytical sophistication. 

IG Singapore

IG Singapore offers one of the most comprehensive CFD platforms, catering to retail and professional traders with access to a broad range of global markets and advanced tools.

They are licensed with the MAS under IG Asia Pte Ltd and also regulated globally by authorities such as the FCA in the UK and ASIC in Australia.

• Pricing: FX spreads from ~0.6 pips; no commission on most CFDs. Share CFDs incur commission (around 0.1% or fixed per-share fees).
• Product offerings: Trade CFDs  across 17,000+ markets, including FX, indices, equities, commodities, cryptocurrencies, bonds, ETFs, futures and options.
• Research & analytics: Rich tools including sentiment data, Reuters/Bloomberg newsfeeds, economic calendars, Trade Analyzer, and third-party research (TipRanks).
• Advanced tools: Includes ProRealTime charting (free with ≥4 monthly trades, otherwise S$60/month fee), Autochartist for trade signals, TradingView and MT4 integration, plus proprietary platform and L2 Dealer for DMA.

Overall, IG is the go-to all-rounder for Singapore CFD traders, offering market variety and platform sophistication.

At the same time, share CFD commissions and platform subscription fees is one consideration for high-frequency or small-balance users.

CMC Markets

CMC Markets delivers a powerhouse trading experience with its platform for active, chart-focused traders who demand deep market coverage and sophisticated tools.

They are also licensed and regulated by the MAS under CMC Markets Singapore Pte Ltd.

• Competitive costs: FX spreads from ~0.5-0.7 pips; no commission on most CFDs, though share CFDs incur ~0.10% or fixed per-share fees. An inactivity fee applies after 12 months
• Fees & financing: Low overnight financing rates; optional “FX Active” account offers spreads from 0.0 pips plus fixed commission.
• Product breadth: Offers over 10,000 CFDs across FX, indices, shares, commodities, ETFs, bonds and crypto.
• Next Generation platform: Award-winning, fast, and customizable, with advanced charting (80+ indicators, 40+ drawing tools), pattern scanners, module linking and multi-layout support.
• Rewards: High-volume traders and chartists receive tiered rebates (CMC Rewards+) and access to premium tools like Bloomberg and pattern-projection modules.

In short, CMC Markets is a top-tier CFD platform in Singapore, blending extensive product variety, zero-commission trading and advanced analytics.

Phillip Securities

Phillip Securities (POEMS CFD) offers a trusted Singaporean brokerage with deep local roots and solid global CFD access.

Established in 1975, PhillipCapital is regulated by the MAS and holds client funds in trust, ensuring safety.

• Fees structure: Uses variable spreads and commission-based pricing (e.g., SGD 25 or 0.128% for SG stock CFDs).
• Financing costs: Financing charges are relatively high (long rates ~6.75% p.a., short ~3‑8% depending on instrument).
• Product access: Over 5,000 CFD contracts, including SGX-listed and global stocks, indices, FX and commodities.
• Trading platforms: Offers POEMS desktop/web, Pro, and MT5. One plus point is that the interface feels more traditional and less streamlined than modern competitors.

The bottom line is, POEMS CFD is a reliable choice for Singapore investors seeking local market access and regulatory comfort.

That being said, its traditional platform, commission-based pricing, and elevated financing rates make it less optimal for cost-sensitive or high-frequency traders.

Learn more about Phillip Securities (POEMS) here.

OANDA Singapore 

OANDA Singapore is a MAS‑regulated broker renowned for FX CFD trading.

Its user‑friendly fxTrade platform, available on web, mobile, MT4, and TradingView, appeals to both beginners and experienced traders.

• Competitive spreads:  EUR/USD and USD/JPY spreads start from around 0.6 pips on its spread-only account. There’s no separate commission since costs are built into the spreads.
• Fee structure: No commission on standard accounts; alternative “core pricing” offers tighter spreads with USD 30 commission per USD 1 million traded.
• Interface & usability: The intuitive fxTrade (web and mobile) is praised for its clean layout, drag-and-drop charting and accessible risk tools, something which beginners may find appealing.
• Product range: Strong FX focus with over 70 currency pairs, plus CFDs on indices, commodities, cryptos, and bonds. However, the overall product variety remains limited compared to other multi-asset platforms.

OANDA is a cost-effective choice for Singapore traders focused on FX CFDs, offering straightforward pricing and excellent usability.

Plus500

Plus500 offers a simple, commission-free CFD trading experience for both casual and beginner traders who want a clean interface without bells and whistles.

They are licensed by the MAS under Plus500SG Pte Ltd and are also publicly listed on the London Stock Exchange.

• Pricing: No commission; costs are built into spreads (~0.8 pips on EUR/USD on average). Inactivity fee of S$10/month kicks in after three months of no login.
• Product range: Offers 2,800+ instruments including FX indices, commodities, shares, ETFs and crypto CFDs.
• Platform: Intuitive proprietary WebTrader and mobile apps with essential charting, watchlists, alerts, and risk tools like guaranteed stop orders. However, features like customisation, expert advisors or platform integration are not supported.
• Tools & analytics: Features basic +Insights sentiment analytics and an economic calendar, but lacks advanced charting or third-party research.

What to Look for in a CFD Trading Platform in Singapore

To help us decide on the best CFD trading platform in Singapore, we would consider a few key factors.

• Licensed by the MAS
• Tight spreads
• Product range
• Platform features
• Commission and financing charges

Here's why it is important to consider these factors

#1 - MAS Regulation

Always check that the broker is licensed by the MAS.

This ensures your funds are held in segregated accounts and the platform meets strict capital and conduct requirements.

These are key safeguards in the high-risk world of leveraged trading.

#2- Tight Spreads

Spreads are the difference between the buy and sell prices.

The tighter the spread, the less you pay to enter and exit a trade.

Needless to say, this is especially important for active traders or scalpers executing multiple trades a day.

#3 - Product Range

A good CFD platform offers access to more than just FX or commodities.

Look for platforms that cover equities, indices, commodities, ETFs, bonds so you can diversify or shift your strategy without switching brokers.

#4 - Platform Features

From mobile trading apps and advanced charting tools to integrated research and risk management functions, the key thing is that your platform should support how you trade.

Bonus points if it includes demo accounts or educational content for skill-building.

#5 - Commission and Financing Charges

Beyond spreads, be sure to check the full cost of trading.

This includes overnight financing (swap) fees, commission on share CFDs and inactivity fees.

Depending on your use, low fees can significantly improve net returns over time.

Here's how the various platforms compare on these factors.

For a quick glance, you may find it helpful to refer to the table below.

What are CFDs and How Do They Work?

CFDs, or Contracts for Difference, let you trade on the price movement of an asset, without actually owning it.

Instead of buying the asset, you make a contract with your broker. You agree to settle the difference between the opening and closing price of your trade.

You can use CFDs to trade a wide range of markets — stocks, forex, indices, commodities, and even cryptocurrencies.

One big advantage of CFDs is flexibility. You can go long (buy) if you think prices will rise, or go short (sell) if you expect prices to fall. This allows you to potentially profit in both rising and falling markets.

CFDs also offer leverage, meaning you can control a larger position with a smaller upfront amount. But while leverage can boost profits, it can also increase losses just as quickly.

Because of this, CFDs are often used for short-term trading, especially by more active or experienced traders who want to take advantage of market swings.

Risks of CFD Trading — What Investors Should Know

While trading CFDs offers flexibility and the potential for quick gains, it also carries significant risks that investors should understand before jumping in.

#1 - Leverage Risk

CFDs are leveraged products, meaning you only need to put up a small fraction of the full trade value.

This is also known as margin.

While trading with margin amplifies potential returns, it also magnifies losses.

In volatile markets, it’s possible to lose more than your initial capital, especially if stop-loss orders or risk controls aren’t in place.

#2 - Market Volatility

CFDs are often used for short-term trades, which makes them particularly sensitive to sudden price swings.

Fast-moving markets, especially in FX or crypto, can result in rapid losses if trades move against you, sometimes in seconds.

#3 - Financing Costs

Holding CFD positions overnight often incurs daily financing charges, especially for leveraged long positions.

These costs can add up quickly and eat into profits, making CFDs more suitable for short-term strategies rather than long-term investing.

#4 - Complex Products

It goes without saying that CFDs are not suitable for all retail investors.

Their structure, pricing and risk profile can be difficult to fully grasp without prior trading experience.

This also means that proper education and demo trading accounts are paramount for beginners.

What would Beansprout do?

There are many different platforms to choose from when it comes to trading CFDs, and we should always picks a trading platform that is licensed by the MAS.

Rather than picking the ‘best’ platform in terms of popularity, you should pick the best platform for your own needs.

Put differently, it really depends on what matters most to you, whether it’s low trading costs, access to advanced tools, or a wide product range across global markets.

For beginners, platforms like Plus500 and OANDA offer clean, intuitive interfaces and commission-free pricing, making them potential picks for new traders who want to start simply without being overwhelmed by too many features.

If you value tight spreads, advanced charting, and a broader product suite, CMC Markets and IG are strong contenders. 

Do you prefer trading with a familiar name? Phillip Securities’ POEMS CFD provides access to CFDs with the comfort of a local broker.

No matter your level, we suggest opening a demo account to test the platform’s features and fit before putting real money on the line.

If you are ready to start trading CFDs, you can explore the platforms above and sign up for a demo account to test which suits your style.

Are there any promotions for CFD trading platforms?

FOREX.com Promotion

CMC Markets Promotion

IG.com Promotion

Phillip Securities (POEMS) Promotion

Disclaimer

The Information provided is not to be regarded as an offer, a solicitation or an invitation to deal in any investment product or an advice or a recommendation with respect to any investment product, and does not have regard to the specific investment objectives, financial situation and particular needs. 

Contracts for Difference (“CFDs”) are leveraged products and carry a high level of risk to your capital as prices may move rapidly against you. Losses can exceed your deposits and you may be required to make further payments. Countdowns carry a level of risk to your capital as you could lose all of your investment. Invest only what you can afford to lose. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. 

Terms and Conditions apply. Please review the T&Cs before applying.

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