7 Best Trading Apps in Singapore: Which to Choose in 2023?

Last updated on March 13th, 2023 at 05:28 pm

In this article, you will learn about the best trading apps in Singapore. The first thing we want to make clear is that there are two types of traders: those who trade on a desktop computer and those who trade on mobile devices. 

There are many popular trading apps for both platforms, but not all of them offer the same features or have been created with your needs in mind. 

We will take a look at five different trading applications – one each from desktop and mobile – and compare their strengths and weaknesses so you can find out which one suits your style and goals best!

1). eToro 

eToro is a social trading platform that allows you to follow other traders’ portfolios and copy their trades. 

This means if another trader has an excellent track record, you can mimic all of his or her moves without having to individually research each trade. If the portfolio performs well over time, so will yours!

If there’s one downside here it’s that eToro charges fees for every transaction made by its users – including when they’re copying others’ movements. 

However, given how much money investors are able to save in commissions using this app (which ranges from $0-30), many people feel it’s worth paying these extra costs just because of the service provided by eToro. 

It even comes with features like automated investing, social sharing, and educational resources.

On the upside, eToro allows you to trade with no commissions or fees on stocks that are part of its OneTwoTrade feature (ie: Apple) – so if there’s a stock you want to invest in but can’t find anywhere else, this is definitely your best option! 

What makes it unique?

Social Trading Platform which allows users to copy other traders’ performance. 

2).  IQ Option 

IQ Option is a well-known mobile trading platform in Singapore that has been around since 2013. 

It offers traders access to over 100 assets, including cryptocurrencies like Bitcoin and Ethereum – which are becoming increasingly popular in the trading world! 

Users can open trades with as little as $/€/£100 or 0.01 BTC (Bitcoin) using this app, making it one of the most accessible options available for new investors.

On top of being able to purchase numerous different currencies on IQ Option, you will also receive up to an 85% bonus when signing up through us! 

This means if you deposit just $500 into your account, they’ll automatically add an extra $425 so you have more money to invest with instantly! 

Plus, there are no commissions or fees for initiating a trade, and the platform itself is very user-friendly.

However, there are some downsides to IQ Option that we should discuss. 

For one thing, if you want to withdraw your money from this app (which can only be done through PayPal), they charge an extra $30 fee! 

Also note that while it’s not exactly common on trading platforms like these ones, IQ Option does offer its users negative balance protection – which means even if their account value falls below zero, all of their funds will remain untouched. 

However, neither option guarantees the safety of any assets stored within them during extreme market volatility. 

3). Olymp Trade 

Olymp Trade is a popular mobile app that was founded in 2014. It’s known for being very user-friendly and the fact that it lets traders open trades with just $/€/£20. 

This means if you only have a small amount of money to invest, this may be your best option when compared to other brokers like eToro or IQ Option!

On top of its low minimum deposit requirement, Olymp Trade also offers up to an 85% welcome bonus on new accounts (up until withdrawal). 

If you’re struggling financially but still want access to funds like these ones then we’d highly recommend using this trading platform – plus, there are no commissions or fees associated with making any transactions! 

Unfortunately, while most people consider Olymp Trade to be very user-friendly, it does lack some of the more advanced features you’ll find on other apps like eToro (like social trading). 

This means that if you’re looking for a platform with lots of customization, this might not be your best option – plus, there are no educational resources available online. 

My fave and best trading apps in Singapore.

Read Olymp Trade review in Singapore

4). OctaFX 

OctaFX is a well-known mobile trading platform that was founded in 2012. It has offices located around the world, including Singapore, and offers traders access to over 50 different assets – with up to 85% bonus on new account deposits! 

What’s more? 

There are no commissions or fees associated with making transactions through this app! 

However… it does come at a cost if you wish to withdraw your money. 

OctaFX charges $30 per transaction which means without any sort of promotion, investors will be paying about $300 just so they can pull their own funds out of the system – definitely something worth knowing before signing up for an account. 

Despite its high withdrawal fee (which is very common among brokers like these ones ), OctaFX is still one of the best trading apps in Singapore. 

It has a very simple layout and it’s easy to customize your profile settings. 

They also offer over 15 different language options, which means you can trade with ease even if English isn’t your first language!

5). ExpertOption 

ExpertOption is another popular brokerage app that was founded in 2014. 

It offers traders access to over 60 different assets, including cryptocurrencies like Bitcoin and Ethereum, plus it has a very easy-to-use interface! 

One of the main benefits of using ExpertOption is its low minimum deposit requirement.

While most brokerages require you to have at least $500 before they let you trade with them – ExpertOption only asks for $10! 

Of course, this means there are no bonuses or promotions associated with making deposits so be sure not to withdraw your funds until you’ve built up some sort of profit (or else all your hard work will go down the drain!) 

What’s more? 

This trading app in Singapore also comes equipped with social trading features, which means you can copy the profile of successful traders and earn money off their trades! 

However… there are no educational resources available online – so it’s definitely not for beginners.

But if you’re looking to trade with a lot of different assets then ExpertOption might just be your best option.

It offers lots of customization options (including social trading), plus its minimum deposit requirement is one of the lowest in Singapore! 

That being said, we would only recommend using this app once you’ve found success on another platform because withdrawal fees vary depending on how much cash you put into each transaction.

6). FXTM  

FXTM is an established mobile trading app that was founded in 2011, one of the best trading apps in Singapore. 

It has offices located around the world and offers traders access to over 60 different assets (including cryptocurrencies like Bitcoin and Ethereum). 

One of our favorite things about FXTM is its social trading features. 

Not only can you copy successful trader’s profiles but it also provides educational resources so you can start mastering your skills! 

However… there are no bonuses or promotions associated with making deposits, which means if you want to withdraw your money then prepare yourself for a $3 fee per transaction – plus additional fees depending on how much cash you’ve withdrawn at once.

Despite this high withdrawal fee, we still think FXTM will prove itself as one of the best trading apps in Singapore! 

It has a very user-friendly interface and there are lots of educational resources available online, which means you can start trading with ease – even if English isn’t your first language! 

If social trading is what you’re looking for then FXTM might be the best option. 

But since it doesn’t offer any bonuses or promotions (which many brokerages like these do) we wouldn’t recommend using this app until you’ve found success on another platform.

7). XM  

XM is a very well-known brokerage app that was founded in 2008, another one of the best trading apps in Singapore. 

It has over 100 offices located across the globe and offers traders access to over 60 different assets (including cryptocurrencies like Bitcoin and Ethereum). 

One of our favorite things about XM is its low minimum deposit requirement. 

While most brokerages require you to have at least $500 before they let you trade with them – XM only asks for $5!

Of course, this means there are no bonuses or promotions associated with making deposits so be sure not to withdraw your funds until you’ve built up some sort of profit (or else all your hard work will go down the drain!)! 

What’s more? 

This app is also equipped with social trading features, which means you can copy the profile of successful traders and earn money off their trades! 

However… there are no educational resources available online – so it’s definitely not for beginners.

But if you’re looking to trade with a lot of different assets then XM might just be your best option. 

It offers lots of customization options (including social trading), plus its minimum deposit requirement is one of the lowest in Singapore! 

That being said, we would only recommend using this app once you’ve found success on another platform because withdrawal fees vary depending on how much cash you put into each transaction.

While most people don’t realize how difficult it is to find one that meets their needs, finding the right mobile brokerage in Singapore shouldn’t just happen by luck. 

There are so many factors surrounding each individual’s financial situation that require consideration before investing money into something as volatile as cryptocurrencies, so it’s important to do your research beforehand.

How to pick the best trading apps in Singapore

Consider the following when sorting through best trading platforms in Singapore;

• Customizable interface – How easy is it to navigate the app? Can you customize your preferences and view the information in a way that’s both efficient and productive for your needs? 
• Trading platform: Do they offer social trading features or bonuses/promotions on deposits (like most do)? 
• Minimum deposit amount: Is there a minimum required before making any trades – if so, what is it? 
• Assets available for trade: Does the brokerage Singapore has only allow people to buy stocks with their cash, or can users invest in assets like cryptocurrencies as well (or better yet… both!) 
• Fees associated with transactions: Are there withdrawal fees involved when taking money out of an account after investing into something like Bitcoin? Or are withdrawals free regardless of how much cash was invested?

As you can see, there are a lot of things to keep in mind when looking for the best trading apps Singapore has available! 

This is why we’ve created this blog post – to help narrow down your options and point out some key factors that should be taken into consideration before making any sort of investment.

So there you have it – our top picks for the five best trading platforms in Singapore! 

If you’re looking for an app that offers just as much choice as eToro but without having to pay any extra fees? 

Then we recommend checking out OctaFX. 

However… if low minimum deposit requirements are what you value most, then IQ Option might be worth considering (although note they do charge $30 per withdrawal). 

For all other traders who want access to lots of educational material and a simple layout, then we’d highly recommend checking out the completely free Olymp Trade app!