Biggest Forex & CFD Brokers in Singapore 2026 — By Client Base & Revenue

Broker size can be measured several ways: active client count, total client assets under management (AUM), annual revenue, or trading volume processed. Each metric tells a different story. Interactive Brokers has over 2.8 million accounts but is primarily a multi-asset brokerage, not a dedicated forex house. IG Group has fewer accounts but processes significantly more CFD trading volume per client.

For Singapore traders, broker size matters for three reasons: financial stability (larger brokers are less likely to become insolvent), liquidity depth (larger brokers aggregate more counterparty flow, reducing the cost of providing tight spreads), and regulatory standing (large publicly-listed brokers face the most scrutiny and have the strongest incentive to maintain clean regulatory records).

The largest brokers serving Singapore traders in 2026 are not necessarily the cheapest or most trader-friendly. IG Group and Saxo Bank, despite their scale, carry higher minimum deposits and wider spreads than ASIC-regulated ECN brokers like Fusion Markets or IC Markets. Size provides safety — but active traders should prioritise execution quality over broker scale.

1. Interactive Brokers — Largest by Client Count
Interactive Brokers (IBKR) holds MAS regulation and is the world's largest electronic broker by client assets, with over $400 billion in client equity and 2.8 million+ accounts globally. IBKR is primarily a multi-asset platform — stocks, bonds, options, futures, forex — rather than a pure CFD broker. For sophisticated Singapore traders who want access to global equities and forex from a single regulated account, IBKR is unmatched in breadth. Minimum deposit: $0 (but $2,000 margin requirement to access forex).

2. Saxo Bank — Largest by Singapore Presence
Saxo Bank holds a full MAS Capital Markets Services licence and has one of the strongest institutional retail presences in Singapore. With 1.2 million+ clients globally and a Singapore office for direct client service, Saxo is the largest locally-registered online broker serving Singapore retail traders. SaxoTraderGO and SaxoInvestor platforms are widely considered best-in-class for multi-asset interface. Higher minimum deposit ($2,000–$10,000 for active accounts).

3. IG Group — Largest CFD Provider Globally
IG Group is the world's largest CFD provider by revenue and holds both FCA (UK) and MAS licences. Over 313,000 active clients globally in 2025. IG is particularly strong in index CFDs, share CFDs, and options — not just forex. Its Singapore-specific support and locally regulated status make it highly trusted. Standard spreads are wider than ECN brokers, but IG's multi-asset range and established presence are unmatched.

4. CMC Markets — Largest Spread-Betting Heritage
CMC Markets holds FCA and MAS licences and has been active in Singapore for over a decade. Its Next Generation platform is widely rated as one of the most feature-rich proprietary trading platforms in retail CFDs. CMC serves 77,000+ active clients globally. It is particularly competitive in commodity and index CFD spreads. Not the cheapest on forex, but broad instrument coverage and MAS regulation make it a trusted institutional choice.

5. IC Markets — Largest Pure-ECN Forex Broker
Among pure-ECN forex brokers (as opposed to multi-asset brokerages), IC Markets is the largest with 180,000+ active trading accounts and over $1 billion in daily trading volume. ASIC regulated. The preferred choice for high-volume Singapore forex traders who want institutional-grade execution without the account minimums or spread premiums of institutional platforms like Saxo.

Tighter Spreads — The largest brokers (Saxo, IG) actually charge wider spreads than smaller ECN specialists like Fusion Markets and IC Markets. Scale helps with liquidity sourcing but large brokers also have higher overhead (offices, staff, marketing) that is passed to clients through wider spreads or commissions.

Better Execution — Execution quality is determined by technology and liquidity provider relationships, not broker size. IC Markets, despite being smaller than Saxo, has superior average execution speeds and lower slippage for forex due to Equinix co-location and a purely ECN model. Larger brokers that operate as market-makers (taking the other side of client trades) have inherent conflicts of interest.

Safer Client Funds — Fund safety is about regulatory requirement (segregation rules), not broker size. A small ASIC-regulated broker with segregated client funds at NAB is safer than a large unregulated offshore broker with a billion dollars under management. Regulation, not size, is the determinant of fund protection.

Better Customer Service — Singapore traders frequently report faster and more personal customer service from mid-sized ASIC brokers (Vantage, VT Markets) than from the global giants (IG, Saxo) where Singapore clients are a small fraction of the total client base.