1Top-tier

MAS regulated forex brokers

Monetary Authority of Singapore · 🇸🇬 Singapore

The Monetary Authority of Singapore (MAS) is the financial regulator for Singapore, established in 1971. ForexLicenses.com classifies it as tier 1 (top-tier regulation). We currently match 13 brokers in our database to an MAS licence.

MAS is Singapore's central bank and integrated financial regulator. Brokers offering leveraged foreign exchange must hold a Capital Markets Services (CMS) licence for leveraged FX trading, meet capital requirements and hold customer money in trust. Retail leverage on major pairs is capped at 20:1. The Financial Institutions Directory lets you confirm a licence, and the Investor Alert List names unregulated entities that may be mistaken for authorised firms. A Singapore licence is widely viewed as a strong indicator of institutional quality in the Asia-Pacific region.

Key rules for retail clients

Tier: Tier 1 — Top-tier regulation
Compensation: No compensation scheme for leveraged FX
Leverage: 20:1 on major FX pairs for retail investors
Negative balance protection: Not a regulatory requirement
Client money: Customer money must be held in trust accounts with approved banks
Complaints: Financial Industry Disputes Resolution Centre (FIDReC)

Brokers licensed by the MAS 13

Broker Licences on record Licence Score Actions

1 I IG Spread betting & CFD provider, since 1974 ASIC BaFin CFTC / NFA FCA FINMA JFSA+5 93Very strong Licences Visit site

2 P Plus500 Forex & CFD broker, since 2008 ASIC CFTC / NFA FCA MAS CySEC DFSA+4 92Very strong Licences Visit site

3 S Swissquote Trading bank, since 1996 FCA FINMA MAS SFC CSSF DFSA+1 92Very strong Licences Visit site

4 CM CMC Markets Spread betting & CFD provider, since 1989 ASIC BaFin CIRO FCA MAS FMA (NZ) 86Very strong Licences Visit site

5 FC FOREX.com Forex & CFD broker, since 2001 ASIC CFTC / NFA CIRO FCA JFSA MAS+1 86Very strong Licences Visit site

6 S Saxo Trading bank, since 1992 ASIC FCA FINMA JFSA MAS SFC+2 84Very strong Licences Visit site

7 IB Interactive Brokers Multi-asset broker, since 1978 ASIC CBI CFTC / NFA CIRO FCA JFSA+2 83Very strong Licences Visit site

8 O OANDA Forex & CFD broker, since 1996 ASIC CFTC / NFA CIRO FCA JFSA MAS+2 82Very strong Licences Visit site

9 MG MultiBank Group Forex & CFD broker, since 2005 ASIC BaFin MAS CySEC FMA (NZ)CIMA+1 80Very strong Licences Visit site

10 CI City Index Spread betting & CFD provider, since 1983 ASIC FCA MAS 72Strong Licences Visit site

11 CI CGS International Multi-asset broker, since 1994 MAS 60Moderate Licences Visit site

12 PS Phillip Securities Multi-asset broker, since 1975 MAS 60Moderate Licences Visit site

13 UK UOB Kay Hian Multi-asset broker, since 1985 MAS 60Moderate Licences Visit site

Frequently asked questions

How do I check if a broker is MAS regulated?

Search the firm's name or licence number on the MAS official register (https://eservices.mas.gov.sg/fid), confirm the status is current and that the website domain you're using is listed, then check the MAS warning list for clones.

Does the MAS offer investor compensation?

No compensation scheme for leveraged FX

What leverage do MAS-regulated brokers offer?

20:1 on major FX pairs for retail investors

Is negative balance protection required by the MAS?

It is not a regulatory requirement under the MAS, though some brokers offer it contractually.