Which offshore brokers accept Singapore residents?
Verdict
- Pepperstone is our pick among offshore brokers that accept Singapore residents; it serves them through Pepperstone Markets Limited, licensed in the Bahamas (SCB SIA-F217), and holds no MAS licence.
- XS, ActivTrades and FP Markets also accept Singapore residents in our broker records, through groups whose licences include offshore regulators such as the Seychelles FSA, the Bahamas SCB or Mauritius's FSC.
- Capital.com does not: our broker data lists Singapore among the countries it does not accept.
- Only Pepperstone tells you which company will hold a Singapore resident's account; with the others, confirm it in the client agreement.
'Offshore' here means a broker that serves Singapore residents from a company licensed outside Singapore, rather than through a MAS-licensed local firm. Four brokers in our records fit. They differ most in one detail that matters: whether they tell you which company you will actually contract with.
Pepperstone: the clearest offshore set-up
Pepperstone's own site routes Singapore visitors to pepperstone.com/en, whose footer names the contracting company: Pepperstone Markets Limited, company no. 177174 B, Nassau, licensed by the Securities Commission of The Bahamas under SIA-F217. Retail clients are not liable for negative balances under its terms, client money is segregated, and accounts can be held in SGD. Costs are published: Razor EUR/USD at a 0.1-pip average plus USD 3.50 per side, Standard at 1.1 pips with no commission, and a $10 minimum.
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Offshore brokers that accept Singapore residents
XS's acceptance comes from the country list on its own sign-up form; the others from our broker records. All four also hold onshore licences elsewhere, such as ASIC or CySEC, but those cover clients of those specific companies.
| Broker | Offshore licences on its site | Company for Singapore clients | Entry point |
|---|---|---|---|
| Pepperstone | SCB Bahamas SIA-F217 | Named: Pepperstone Markets Limited | $10 |
| XS | FSA Seychelles SD089; LFSA Labuan MB/21/0081; FSC Mauritius GB25204786 | Not stated on the pages we checked | $0 listed; $500 for Elite |
| ActivTrades | SCB Bahamas (ActivTrades Corp); FSC Mauritius GB24203277 | Not stated on the pages we checked | $0 |
| FP Markets | FSA Seychelles SD130; FSC Mauritius GB21026264 | Not stated on the pages we checked | $100 |
How the three alternatives differ
- XS: EUR/USD Elite average of 0.1 pips with a $6 round-turn commission and $500 minimum; MT4, MT5 and its own app; leverage up to 1:2000 with dynamic tiers; no SGD account (USD, EUR, JPY).
- ActivTrades: Bahamas entity lists 1:400 on forex; 0.5% conversion fee when payment and account currencies differ; no SGD base currency.
- FP Markets: Raw EUR/USD average of 0.11 pips plus $3 per side; SGD is a funding currency; $100 minimum.
Before you open an offshore account
- Find the company named in the client agreement you will sign.
- Look that company up on its regulator's register.
- Search the MAS Financial Institutions Directory so you know whether a local licence exists.
- Check negative-balance protection and any compensation scheme for that company.
- Make a small deposit and withdrawal before funding fully.
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Sources
Licences and terms published by each broker.
Is Pepperstone an offshore broker for Singapore residents?
Yes, in the sense that its Singapore clients deal with a Bahamas company; the wider group is also regulated by ASIC, the FCA, CySEC, BaFin and the DFSA.
Why isn't Capital.com on the list?
Our broker data lists Singapore among the countries Capital.com does not accept.
Do offshore brokers offer higher leverage?
Usually. Pepperstone's Bahamas entity allows 1:200 on retail FX, against 1:30 at its UK and Australian companies.
Leveraged CFD trading is high risk: losses can build quickly and may wipe out your deposit. Pepperstone's international site reports that 80% of retail investor accounts lose money when trading CFDs with this provider. This is not investment advice; verify current terms directly with any broker you consider.