Asia Forex Mentor · Singapore · Forex
AFM's Recommends Forex Broker in Singapore.
One independently reviewed forex broker for Singaporean traders — assessed for regulation recognised in Singapore, SGD deposit support, execution quality, and OCP-style 4H/daily chart trading suitability.
1 Featured Broker · No Rankings
Last Updated March 2026
How we select →
Trustpilot
4.2 / 5
1,200+ verified reviews
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Preferred by Traders
Trusted by 500,000+ traders across Asia
Asia Forex Mentor · Singapore · Forex
AFM's Recommends Forex Broker in Singapore.
One independently reviewed forex broker for Singaporean traders — assessed for regulation recognised in Singapore, SGD deposit support, execution quality, and OCP-style 4H/daily chart trading suitability.
1 Featured Broker · No Rankings
Last Updated March 2026
How we select →
IC
IC Markets
ASIC · CySEC · FSA Regulated · Est. 2007 · True ECN Execution
🏆 Best ECN Broker 2025
⬡ Titanium Partner
✓ AFM Trusted
9.1
AFM Trust Score / 10
Excellent · Top 5% of reviewed brokers
Min. Deposit
$200
EUR/USD Spread
0.0 pips
Max Leverage
1:500
Platforms
MT4 · MT5 · cT
Why This Broker for Singapore Forex Traders
What makes IC Markets the right fit for traders in Singapore
- ASIC regulated — strongly recognised and respected by the Singaporean financial community. One of the top-tier regulatory bodies accepted for offshore trading from Singapore.
- SGD bank transfer deposits supported via DBS, OCBC, and UOB — no international wire fees or currency conversion costs when funding from Singapore.
- Raw ECN spreads from 0.0 pips — the most cost-effective execution environment for active Singapore-based OCP traders who trade 4H and daily charts.
- Sub-40ms average execution speed — matching Singapore session hours, including the SGX open overlap with Tokyo and the afternoon European session entry window.
- Islamic swap-free accounts available — accessible for Muslim Singaporean traders without needing to compromise on execution quality or spread conditions.
AFM Verdict — Ezekiel Chew
Founder, Asia Forex Mentor · Tested live March 2026
“Singapore traders have access to excellent brokers, but IC Markets stands out for raw spread quality. If you're trading the OCP system from Singapore, the 0.0 pip ECN environment is exactly what you need — and ASIC regulation gives you the protection level that serious Singaporean traders expect. The SGD deposit via local banks removes the last practical friction point.”
Why Singapore Traders Choose It
- SGD deposits via DBS, OCBC, UOB local bank transfer
- 0.0 pip raw ECN spreads — best execution for active traders
- ASIC regulated — credible and respected in Singapore
- Islamic account available
- Sub-40ms average execution speed
Watch Out For
- Not directly MAS-regulated — uses ASIC licence
- $3.50/lot commission on Raw account (on top of 0.0 spread)
- $200 minimum deposit in USD (≈SGD 270)
AFM Trust Score Breakdown
Regulation Strength (30%)
9.3
Execution Quality (25%)
9.5
Spread Transparency (20%)
9.0
Customer Support (15%)
8.5
Trader Retention (10%)
8.8
Frequently Asked Questions
Is IC Markets safe and regulated?
Yes. While they onboard Singaporean clients under their offshore or Australian entity depending on the specific account setup, they are heavily regulated by ASIC (Tier-1) and CySEC, making them a highly trusted broker globally.
Can I deposit in SGD with IC Markets?
Yes. IC Markets supports SGD deposits directly via local Singaporean banks such as DBS, OCBC, and UOB. This saves you from expensive international wire fees and currency conversion rates.
What is the minimum deposit?
The minimum deposit for an IC Markets account is $200 USD, which translates to approximately $270 SGD depending on current exchange rates.
Is IC Markets good for OCP traders?
Yes, it is highly recommended. The raw ECN spreads (from 0.0 pips) provide the ideal execution environment for price action traders using 4H and daily chart setups as taught in the One Core Program.
Upcoming Event · Singapore · Forex
IC Markets × AFM Singapore Traders Session — OCP on 4H Charts
📅 April 5, 2026 · 7PM SGT · Free for AFM subscribers
Register now →
AFM Partnership — What IC Markets Has Done with AFM
- Best ECN Broker Award 2025 — AFM Broker Awards
- Titanium Partner of Asia Forex Mentor
- 4 AFM webinar appearances — recordings available on broker videos page
- Headline sponsor of AFM Singapore Traders Summit 2025
- 1 AFM-produced independent YouTube review — clearly labelled
Open an Account · Singapore
Trading involves risk. 73% of retail CFD accounts lose money. Capital at risk. Not MAS regulated — uses ASIC licence.
Quick Stats
Founded
2007
HQ
Sydney, AU
Regulation
ASIC · CySEC · FSA
Min. Deposit
$200 (≈SGD 270)
EUR/USD Spread
0.0 pips (Raw)
Commission
$3.50/lot (Raw)
Islamic Acc.
✓ Available
SGD Deposits
✓ DBS · OCBC · UOB
AFM's Recommended Forex Broker in Other Countries
🇬🇧 United Kingdom
🇺🇸 United States
🇦🇪 UAE / Dubai
🇸🇬 Singapore
🇵🇭 Philippines
🇧🇷 Brazil
🇦🇷 Argentina
📅
Events in Singapore
IC Markets × AFM Singapore — OCP on 4H Charts. April 5, 2026 · 7PM SGT · Free.
View all events →
🏆
AFM Broker Awards 2025
IC Markets won Best ECN Broker 2025 — independently judged by the AFM editorial team.
See all winners →
🎬
IC Markets Review Video
AFM's independent IC Markets review — execution test, spread comparison, Ezekiel's verdict.
Watch video →
