Which trading app is safest to use in Singapore?
Verdict
- On regulation alone, a MAS-licensed app is the safer default in Singapore, and Pepperstone is not one: it serves Singapore residents through Pepperstone Markets Limited, licensed in the Bahamas (SCB, SIA-F217), and the MAS directory has no entry for it.
- Pepperstone remains our overall pick for traders who accept an offshore account, because its published protections are clear: retail clients are not liable for negative equity and client money is held separately.
- MAS-licensed apps in our data include eToro Singapore (CMS101824), Plus500SG (CMS100648), IG Asia, CMC Markets, Saxo, OANDA, StoneX (FOREX.com) and Phillip Securities.
- Whatever you pick, look the firm up in the MAS Financial Institutions Directory and check that the company on your client agreement matches.
'Safe' in trading has two parts: is the firm properly supervised where you live, and what happens to your money if things go wrong. Pepperstone scores well on the second and not at all on the first for Singapore. Here is both sides, the licensed alternatives, and how to check any app yourself.
Straight answer: MAS licence first, then our pick
If 'safest' means a firm supervised by the Monetary Authority of Singapore, choose one of the MAS-licensed apps in the table below. If you accept an offshore provider for better pricing and platform choice, Pepperstone is our pick, and here is the honest trade. For Singapore it relies on its Bahamas licence: no local site, no Singapore entity and no compensation scheme named for this entity's clients. In its favour, the entity's terms make retail clients not liable for negative equity, its protection page describes segregated client money, and the wider group holds licences from ASIC, the FCA, CySEC, BaFin and the DFSA for clients in those markets.
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What protects you at Pepperstone, and what doesn't
- Protects: no negative balance for retail clients under the Bahamas terms; a discretionary, one-time cover of up to USD 100,000 for Pro clients only.
- Protects: client money held separately, according to the international site's protection page.
- Missing: a MAS licence; the directory search returns no result for Pepperstone.
- Missing: a named compensation scheme for clients of Pepperstone Markets Limited.
- Note: the international site states that 80% of retail CFD accounts lose money with this provider, which is a reminder that the biggest risk is the product, not the firm.
MAS-licensed trading apps in our data
Each firm names a Singapore company that holds a MAS licence. Licence numbers are shown where the firm prints one.
| Firm | Singapore entity | Licence reference | App or platforms |
|---|---|---|---|
| eToro | eToro Singapore Pte. Ltd. | CMS101824 | eToro app and web |
| Plus500 | Plus500SG Pte Ltd | CMS100648 | Plus500 app and web |
| IG | IG Asia Pte Ltd | Not printed | IG app and web, MT4, MT5, TradingView |
| Saxo | Saxo Capital Markets Pte. Ltd. | Not printed | SaxoTrader, SaxoInvestor, TradingView |
| OANDA | OANDA (Co. Reg. 200704926K) | Not printed | OANDA Mobile, MT5, TradingView |
| Phillip Securities | Phillip Securities Pte Ltd | Not printed | POEMS, Phillip MT5, Phillip Nova |
How to check any trading app yourself
- Search the firm's name in the MAS Financial Institutions Directory and note the exact company name.
- Open the client agreement and check that the same company is your counterparty, not an overseas affiliate.
- Check that your deposit goes to an account in that company's name.
- Read the negative-balance and client-money sections of the terms.
- Make a small deposit and withdraw it before funding the account properly.
Where XS stands
XS accepts Singapore residents, but its regulations page lists entities in Australia, Cyprus, the UAE, South Africa, Seychelles, Labuan, Mauritius and Kuwait, and none in Singapore. Ask which company would hold your account before you deposit.
Sources
Regulator and broker pages.
Is Pepperstone regulated in Singapore?
No. It holds no MAS licence; Singapore residents are served by Pepperstone Markets Limited under a Bahamas (SCB) licence.
Is my money protected if Pepperstone fails?
Pepperstone names no compensation scheme for clients of its Bahamas entity. Its protection page describes segregated client money, which is separate from a compensation guarantee.
Which MAS-licensed app has the lowest minimum?
In our data, eToro Singapore publishes $10. Plus500 sets minimums per payment method.
Does a MAS licence remove trading risk?
No. It governs how the firm is run and how client money is handled, not whether your trades make money.
Regulation reduces some risks but not market risk: leveraged CFDs can lose you money quickly. This page summarises published licences and terms as of its update date and is not investment or legal advice.