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Author: Robert Sammut
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Robert Sammut

Singaporean Options Trading

If you're looking to trade binary options, then Singapore is a great place to start your trading journey, and you probably have many, like, which broker should you choose? Well, as awareness of binary options grows more and more brokers are offering their services to Singaporeans, even via mobile or tablet devices, it's not a problem.

With little regulation and legal hurdles, you won't struggle to find a broker. Many international brokers have also made their sites properly accessible to countries around the world; most offer their platforms translated into local languages, so you don't even need to speak English to trade comfortably.

With our expert research, reviews and recommendation of only the best brokers you know when we put our name to a company you will be choosing with confidence and safety, ensuring that your experience of binary options trading is a great one. Read on to find our recommended broker sites to place your trades at.

Top Rated Options Sites

#1 - Pocket Option: Best Overall

Pocket Option Logo
9.8
Superb
Bonus Up-to $2000 Assets 130+
Min. Trade $1 *Payout % 92.76%
Over 130+ assets to trade now
Instant access to social trading
Single account option, for everyone
Tournament with prize of $50,000
IFMRRC is not an official regulator
Limited account funding methods
Deposit Methods
Bitcoin Klarna PaySafeCard MasterCard
149 visited this site today
Pocket Option Review

Editors Summary

Pocket Option offers many excellent features to new and existing traders. When you check-out the various account types, you will see that they work with traders of any level – newbie, beginner, experienced, master etc. This site is so easy to use, and while CySEC does not license them, they have good feedback online and tick all of the boxes of a trusted broker. We love the ease of use and no-frills approach which is replicated with a great user experience.

#2 - Olymp Trade: Best Free Demo

Olymp Trade Logo
9.3
Excellent
Bonus Up-to $1600 Assets 70+
Min. Trade $1 *Payout % 91.48%
Over 70+ assets to trade now
Min deposit $10, min trade $1
Exceptional level of education
Big emphasis on ‘client experience’
Not available to US/EU citizens
Some reports of platform ‘lagging’
Deposit Methods
Visa PaySafeCard MasterCard Neteller
85 visited this site today
Olymp Trade Review

Editors Summary

Olymp Trade is a massive player in the fixed time trading marketplace, and their seamless platform and competitive rates of return are excellent. Their minimum $10 deposit and $1 trades means that the service is accessible to anyone who wants to trade and their education service supports their commitment to new traders as one of the best brokers.

#3 - ExpertOption: Best Mobile App

ExpertOption Logo
9.1
Very Good
Bonus Up-to $1000 Assets 50+
Min. Trade $1 *Payout % 89.72%
Over 50+ assets to trade now
Multiple accounts for all budgets
Support available in 15 languages
Free support manager for traders
Maximum trade expiry is 15 minutes
50x trading requirement for bonuses
Deposit Methods
AMEX PayPal PaySafeCard Neteller
41 visited this site today
ExpertOption Review

Editors Summary

The recent entry of ExpertOption into the fixed time trades market gives them the benefit of being able to offer what their traders want. Their demo account allows novices to dip their toe without risk and to learn the basics of trading before they start. With a range of account types and the ability to open an account with as little as $50 and make $1 trades, they aren't out of reach for those who want to start slow and get to grips with what they are doing.

Risk Warning / Ad Disclosure

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.

Options Sites in Singapore

Singapore

Like many countries where binary options trading isn't as commonplace as perhaps in Europe or the US, Singapore has a lack of regulated home-grown brokers. This lack of regulated native brokers is good news for international options brokers who are always looking to break into new markets and extend their reach. So how do you choose a broker and what should you be considering when making your decision?

Licensing And Regulation

There is only one regulated and recommended broker that is local to Singapore. If there is only one regulated, you can be sure that there are many more that are operating unregulated, in this case, your money is most definitely at risk. Never invest your money with a broker who isn't licensed and regulated by reputable authorities.

Customer Support

While you may prefer the idea of trading with local business, in your local language, the best offshore brokers even go so far as to offering translation services on their sites to languages like Malay and Mandarin. They will also provide comprehensive customer support in many languages. Before you invest, check what forms of assistance they offer and how easy they are to contact.

Mobile Trading Tools

Most transactions, from banking to shopping, now take place on a mobile device. If you have a mobile phone and an internet connection, no doubt you want to be able to trade on the go. Make sure that the broker you choose offers an app or a suitable mobile responsive website.

Free Demo Account

The demo account is the best way to test a platform without risking your funds. While a no deposit bonus also gives you that opportunity, the demo account offers you a more substantial sum to practise trading. Use the demo account to get familiar with the functionality and layout of the platform and to execute many trades.

While there isn't a vast choice of local brokers, most Singaporeans prefer to trade in a foreign currency making offshore brokers an attractive prospect.

Broker Fees And Tax

Todays Top Traders
Trader Broker Asset Profit

Like any country Singapore will have tax laws and regulations however any profits made from financial instruments such as binary options trading or Forex trading are not classed as income they are classed as a personal investment and fall into the capital gains bracket. That said you should always check with your accountant or another financial expert to ensure that these rules do apply to you as rules and regulations are subject to change and can depend on personal circumstances.

Alongside taxes, the other thing to consider is any fees that arise from binary options trading. As most brokers are offshore, there will need to be a consideration as to whether trading in a foreign currency will have an impact on you when you withdraw funds and the currency is converted back. Is there a conversion fee charged by your bank or credit card?

If you are going to be using a payment method like an e-wallet, then you need to check if they will take a percentage or if they charge a fee per transaction. If the broker charges a fee per transaction, then you will need to consider how many transactions you make and not withdraw every time you complete a successful trade.

Singaporean Licencing

While trading is now legal across all districts; this hasn't always been the case, and it has only been the last couple of years that the industry has seen real growth. Up until recently, it was only legal to trade binary options in 6 districts of Singapore. Now that has been extended to the entire state. The Monetary Authority of Singapore oversees regulation, but there is a very apparent lack of regulated brokers. It is still a tricky industry to regulate in many countries as it is still very much an unknown quantity.

Mainly the binary options industry across Asia is regulated by each country's national bank. It happens to be the Monetary Authority of Singapore who has imposed sanctions on unregulated brokers, but like anything when something is new and unknown, there are those that get in early doors and try to make a quick buck. These scam companies operate at the expense of the trader who invests their money in good faith never to see it again. While it is not illegal to trade it is unlawful for an unregulated broker to offer services.

The good news is that it is entirely legal for offshore brokers to offer their services to Singaporeans and many of the top international brokers have taken the opportunity to make their websites accessible and easy to use for many across the world. As binary options become more popular and more widely recognised the regulation will improve which will make room for new native brokers to enter the market place, but in the meantime, there are a whole host of offshore brokers.

If you're looking to trade binary options, then Singapore is excellent.

How we Recommend Brokers

Our team of experienced experts has extensively researched every broker that we recommend. We do not put our name to any broker that we aren't entirely confident that they operate above board. From the bonuses and demo accounts that they offer to the user experience on mobile devices, we check every aspect of trading to ensure that we only bring you the very best.

We score each broker in each area so that you can see which brokers offer the benefits you want. We have vetted hundreds of brokers from across the world looking at every aspect of trading including:

  • Licensing and regulation
  • Welcome bonuses and incentives
  • Trade types and payouts
  • Mobile trading experience and ease of use of platform
  • Minimum deposit and minimum trade requirements
  • Demo account availability and features
  • Customer help and support
  • Contests and other special features

We look at everything that the broker has to offer to you as traders and how they differ from the competition and our scores reflect this.

If you are looking for somewhere safe to invest your money and don't have too many other criteria, then you can be safe in the knowledge that all of the brokers that we recommend will be suitable for you. If your standards are a little more select and you want to choose a broker based on the payout or the welcome bonus then equally we will be able to show you those that match your requirements.

One thing is for sure if you are looking for the best binary options Singapore has to offer we have a broker that will fit your needs, and we can help. Our job is to help you make the most of your trading experience ensuring that you trade safely and that the experience is an enjoyable one.

Our Review Rating System (More Info)

10% 10% 10% 15% 15% 20% 20% Pie Core
  • Account Types
  • Banking & Payouts
  • Bonuses & Promotions
  • Mobile Trading
  • Trade Types
  • Special Features
  • Customer Support
Expert Reviews

Frequently Asked Questions

FAQ

Is binary trading in Singapore legal and safe?

Where once binary options trading was only legal in six states of now it is legal in all ten districts. The Monetary Authority of Singapore regulates the industry, but there is only one regulated local based broker.

Do I need to pay fees and taxes on my profits?

The profits from binary options trading are classed as a personal investment and therefore capital gains, not income. Because of this, it is not subject to income tax.

Can I test brokers before trading with real money?

Most brokers offer attractive welcome bonuses while others offer demo accounts with no deposit required. It is worth looking at what is available that fits your criteria.

Is it easy to make deposits and withdrawals?

Depositing with any broker should be a straight forward process. When it comes to withdrawing funds, you will need to confirm your identity for fraud purposes.

Can I trade using my mobile or tablet device?

Many brokers offer apps on both Android and iOS as well as having a mobile responsive website unless you are going to be sat behind a laptop or PC all day you need to be able to trade on the go.

Top Rated Options Site

#1 - Pocket Option: Best Overall

Pocket Option Logo
9.8
Superb
Bonus Up-to $2000 Assets 130+
Min. Trade $1 *Payout % 92.76%
Over 130+ assets to trade now
Instant access to social trading
Single account option, for everyone
Tournament with prize of $50,000
IFMRRC is not an official regulator
Limited account funding methods
Deposit Methods
AMEX PaySafeCard Neteller Skrill
122 visited this site today
Pocket Option Review
Risk Warning / Ad Disclosure

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.

Meet The Author
Robert Sammut
Robert Sammut
Trading Coach

Robert has consulted for our website for five years and is a well-established member of the team. While he is passionate about the site, most of Robert’s time is focused on his current position as CEO of a professional coaching company.

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