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Is forex trading legal in Singapore?

Yes. Leveraged forex and CFDs are legal in Singapore when offered by a firm licensed by the Monetary Authority of Singapore (MAS), and retail leverage is limited.

Checked 12 Nov 2026Not legal advice

Short answer: forex trading is legal in Singapore. Firms dealing in leveraged forex or CFDs need a Capital Markets Services (CMS) licence from MAS, and retail clients face a minimum margin of 5% on major currency pairs, which means leverage of up to 20:1.

Who regulates what

  • Monetary Authority of Singapore (MAS) is the central bank and financial regulator. It licenses firms that deal in leveraged forex and OTC derivatives under the Securities and Futures Act.
  • Licensed firms appear in the MAS Financial Institutions Directory, with the regulated activities they are allowed to carry out.

Leverage limits

Client typeMinimum margin on major FX pairsMaximum leverage
Retail5%20:1
Accredited, expert or institutional investor2%50:1

These are regulatory floors; brokers can ask for more margin.

Brokers we review with a Singapore company

Comparison sites that read the MAS directory list Singapore companies for IG (IG Asia Pte Ltd), OANDA (OANDA Asia Pacific Pte. Ltd.) and Interactive Brokers (Interactive Brokers Singapore Pte. Ltd.). Confirm the company and its licensed activities on the MAS directory before you open an account.

Watch out: MAS keeps an Investor Alert List of firms that may be wrongly presumed to be licensed. An offshore broker that accepts Singapore clients without a MAS licence leaves you with no Singapore regulator to turn to.

How to check a broker

  1. Find the exact company name in the account agreement.
  2. Search it in the MAS Financial Institutions Directory and check it is licensed for leveraged forex or OTC derivatives.
  3. Search the name on the MAS Investor Alert List.

FAQ

What leverage can I get in Singapore?

Up to 20:1 on major currency pairs as a retail client. Accredited, expert and institutional investors can get up to 50:1.

Can Singaporeans use overseas brokers?

Some offshore brokers accept Singapore residents, but they are not supervised by MAS. How the law applies to an individual is a legal question; ask a Singapore lawyer.

Related

Compare all 11 brokers · Is IG regulated? · Is OANDA regulated? · How to check a broker's legal entity

Sources

  1. MAS Financial Institutions Directory
  2. MAS Investor Alert List
  3. CompareForexBrokers: Forex trading in Singapore (margin rules and MAS entities)

Forex and CFDs are leveraged products and most retail accounts lose money. General information, not financial or legal advice.