Monetary Authority of Singapore (MAS) Brokers 2025
Brokers regulated by the Monetary Authority of Singapore (MAS) must facilitate a robust trading environment for local traders in line with regulations. As well as listing the top trading brokers authorized by the MAS, this guide will cover the financial body’s objectives, powers and protections for retail traders.
Best MAS Brokers
These 6 brokers are the best options for traders from Singapore with authorized firms required to abide by various safety standards:
This is why we think these brokers are the best in this category in 2025:
- Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- Moomoo - Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.
- Gemini - Gemini is a cryptocurrency exchange set up in 2014 by the Winklevoss brothers, known for their early involvement in Facebook. The exchange is among the world’s 20 largest and most popular. Gemini clients can trade and stake 110+ cryptocurrencies, with derivatives trading available in some jurisdictions, an advanced proprietary platform and additional features including an NFT marketplace.
- Coinbase - Launched in 2012 as a platform enabling users to buy and sell Bitcoin via bank transfers, Coinbase has emerged as a crypto behemoth, expanding its services to include 240+ crypto assets, developing sophisticated trading platforms for retail investors, listing on the US Nasdaq, and securing licenses with multiple regulators.
- CMC Markets - Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.
- Plus500 - Established in 2008 and headquartered in Israel, Plus500 is a prominent brokerage that boasts over 25 million registered traders in over 50 countries. Specializing in CFD trading, the company offers an intuitive, proprietary platform and mobile app. It maintains competitive spreads and does not charge commissions or deposit or withdrawal fees. Plus500 also continues to shine as one of the most trusted brokers with licenses from reputable regulators, including the FCA, ASIC and CySEC.
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer
Interactive Brokers Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
| Minimum Deposit | $0 |
| Minimum Trade | $100 |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
- With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
- The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.
Cons
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
Moomoo
"Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees."
Jemma Grist, Reviewer
Moomoo Quick Facts
| Bonus Offer | Get up to 15 free stocks worth up to $2000 |
|---|---|
| Demo Account | Yes |
| Instruments | Stocks, Options, ETFs, ADRs, OTCs |
| Regulator | SEC, FINRA, MAS, ASIC, SFC |
| Platforms | Desktop Platform, Mobile App |
| Minimum Deposit | $0 |
| Minimum Trade | $0 |
| Leverage | 1:2 |
| Account Currencies | USD, HKD, SGD |
Pros
- It is reassuring that Moomoo holds licenses with the US Securities and Exchange Commission (SEC) and the Monetary Authority of Singapore (MAS), among others
- The ‘Moomoo Token’ generates dynamic passwords for transaction security - a unique and helpful safety feature
- Moomoo is a Member of FINRA and the Securities Investor Protection Corporation (SIPC), adding another level of security for prospective clients
Cons
- There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers
- There is no phone or live chat support - common options at most other brokers
- It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer
Gemini
"Gemini’s ActiveTrader platform and TradingView integration make it a good choice for serious crypto traders seeking a reliable charting environment, though we were disappointed by some unnecessary fees and previous security breaches."
Michael MacKenzie, Reviewer
Gemini Quick Facts
| Demo Account | No |
|---|---|
| Instruments | Cryptos |
| Regulator | NYDFS, MAS, FCA |
| Platforms | ActiveTrader, AlgoTrader, TradingView |
| Minimum Deposit | $0 |
| Minimum Trade | 0.00001 BTC |
| Account Currencies | USD, EUR, GBP, CAD, AUD, HKD, SGD |
Pros
- The exchange ensures high security standards with 2FA a requirement for all crypto investors
- Crypto perpetual futures are available in many jurisdictions with up to 1:100 leverage
- The TradingView integration delivers top-quality tools, including backtesting and algo trading capabilities
Cons
- There is no practice profile or demo account for prospective traders
- The 'convenience fee' for using the mobile app seems arbitrary and makes it inefficient to use this feature
- There are high fees for some funding methods including a 3.49% fee for card transactions
Coinbase
"Coinbase is ideal for beginners looking for an intuitive platform to buy and sell a wide variety of cryptocurrencies, with robust security and regulatory compliance. However, its fees are higher compared to competitors in our tests, and it’s not as tailored for short-term traders."
Coinbase Quick Facts
| Demo Account | No |
|---|---|
| Instruments | Crypto |
| Regulator | FinCEN, FCA, CBoI, MAS, OAM, DNB, BdE |
| Platforms | Coinbase, Advanced Trade, Wallet, NFT |
| Minimum Deposit | $0 |
| Minimum Trade | $2 |
| Account Currencies | USD, EUR |
Pros
- As a Nasdaq-listed company, Coinbase follows strict financial regulations, with licensing across the US, UK, and Europe. Security includes FDIC insurance for USD balances (up to $250,000) and two-factor authentication (2FA).
- Coinbase supports 240+ cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and newly listed altcoins like $Trump, giving early access to emerging tokens.
- There are platforms for all levels: beginners can use the simple Coinbase app, while Advanced Trade provides lower fees and pro-level tools.
Cons
- Frustrating customer support during testing, with most help options hidden behind login, making it tough for locked-out users or non-account holders to get assistance.
- High crypto fees based on tests, especially compared to competitors like Kraken and BitMEX, and notably on the standard dealing platform.
- There are woeful research tools; Advanced Trade has TradingView charts but lacks features like news feeds, economic calendars, and AI market insights.
CMC Markets
"With advanced charting tools and an extensive range of tradable CFDs, including an almost unrivalled selection of currencies and custom indices, CMC Markets provides a fantastic online platform for traders of all levels. "
CMC Markets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting |
| Regulator | FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA |
| Platforms | Web, MT4 |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN |
Pros
- CMC Markets has a rich investment offering with over 12,000 CFDs and in 2024 added options trading while in January 2025 added extended hours trading on the 'Magnificent 7' US tech stocks and in March 2025 rolled it out to 80+ US equities.
- CMC Markets is heavily regulated by reputable financial authorities and maintains its stellar reputation, helping to ensure a secure and trustworthy trading environment.
- The web platform delivers a fantastic user experience with advanced charting tools for day trading and customizable features, catering to both beginners and experienced traders. MT4 (but not MT5) is also supported.
Cons
- An inactivity fee of $10 per month is applied after 12 months of inactivity, which may deter casual investors.
- While CMC offers an above-average suite of assets, there is no support for trading real stocks and UK clients can’t trade cryptocurrencies.
- The CMC Markets app offers the complete trading package but the design and user experience trails category leaders like eToro.
Plus500
"Plus500 offers a super-clean experience for traders with a CFD trading platform that sports a modern design and dynamic charting. That said, the broker’s research tools are limited, fees trail the cheapest brokers, and there’s room for enhancement in its educational resources."
Plus500 Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto |
| Regulator | FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA |
| Platforms | WebTrader, App |
| Minimum Deposit | $100 |
| Minimum Trade | Variable |
| Leverage | 1:30 |
| Account Currencies | USD, EUR, GBP, AUD, ZAR, CZK |
Pros
- The customer support team continue to provide reliable 24/7 support via email, live chat and WhatsApp
- You can utilize leverage while engaging in long or short positions, allowing for more strategic trading opportunities
- The broker offers commission-free trading on a diverse range of markets, minimizing additional fees while appealing to established traders
Cons
- Algo trading and scalping are not supported, which may deter some day traders
- Plus500’s lack of support for MetaTrader or cTrader charting tools might be a deal breaker for advanced day traders looking for familiarity
- Educational resources are limited compared to best-in-class brokers like eToro, impacting the learning curve for beginners
What Is The Monetary Authority of Singapore?
The Monetary Authority of Singapore (MAS) is the financial regulatory authority of Singapore. It deals with activities pertaining to banking, insurance, securities, money and the overall financial sector. In addition to this, it controls currency issuance and control of foreign exchange rates for USD to SGD exchanges.
The address of its headquarters is at 10 Shenton Way, MAS Building, Singapore. It also has locations around the world, including an office in London and an office in New York.
According to its website, the mission and vision of the MAS are to “promote sustained and non-inflationary economic growth, and a sound and progressive financial services sector”. To achieve this, the MAS develops strategic plans and aims to:
- Conduct exchange rate policy
- Manage official foreign reserves
- Regulate and supervise the financial sector
- Work with the industry to develop Singapore as an international financial centre
The MAS has also managed and administered a series of measures to help achieve its mission, including:
- The Currency Act and legal tender in Singapore
- Dispute resolution schemes regulations (2007)
- Anti-terrorism measures regulations (2002)
- Payment services act (2019)
The Monetary Authority of Singapore has created a set of objectives and desired outcomes:
- Stable financial system
- Safe and sound intermediaries
- Safe and efficient infrastructure
- Fair, efficient and transparent markets
- Well-informed and empowered customers
- Transparent and fair-dealing intermediaries
History
The Monetary Authority of Singapore was established in 1971. Before this, all monetary functions were conducted by government departments, mainly the Board of Commissioners and Currency. In 1970, Singapore’s parliament passed the Monetary Authority of Singapore Act which led to the establishment of the MAS on January 1st, 1971. This was in response to an increasingly complex monetary environment. The act gave the MAS the power to regulate all aspects of finance in Singapore.
Structure
The Monetary Authority of Singapore’s organisational chart can be found on its website. MAS’s day-to-day head is its managing director, Mr Ravi Menon, who is effectively the CEO. He sits atop of the hierarchy, and beneath him is Keith Chnioh and a management team who deal with specific aspects of the MAS.
This includes head of corporate development – Jacqueline Loh, international development head – Andrew Khoo, and head of cyber security and hygiene – Tan Yeow Seng. Team members deal with anything from press releases and news events, to writing the latest prospectus.
The Monetary Authority of Singapore has had a number of notable employees who have had successful careers. These include names such as Chua Kim Leng, Valerie Tay and Lee Yuan Siong.
Responsibilities & Powers
The Monetary Authority of Singapore has many responsibilities, including:
Guidelines & Rules
To provide a safe financial environment both for customers and for financial service providers, the MAS issues guidelines on a variety of subjects, such as individual accountability and conduct, environmental risk management, business continuity management, ESG, technology risk management and outsourcing guidelines.
Public Information
As a government body, the Monetary Authority of Singapore is required to release information to the public. This includes financial statements, such as annual (and quarterly) reports, balance sheets and financial stability reports. It releases reports on its assets under management (AUM), including net profit. It also provides an investor alert list to warn customers of unregulated persons, such as Jardin Smith.
In the same vein, the Monetary Authority of Singapore provides a register of all licensed representatives. The public can conduct an entity license search to check which trading brokers and institutions are regulated by the MAS.
Licensing
Legitimate and trusted online brokers will always aim to become licensed by the Monetary Authority of Singapore. Brokers from Singapore, Myanmar, Hong Kong and all over the world aim to receive a license from MAS, as it allows customers to put a level of trust in the brand. There is a financial institution directory listing all financial service providers that hold licenses, such as Tiger Brokers.
Monetary Policy
The Monetary Authority of Singapore has a series of powers relating to monetary policy, including the ability to implement quantitative easing measures and to ensure sustainable non-inflationary economic growth. It also sets the exchange rate, conducts operational risk and resilience checks, as well as enterprise-wide risk assessments.
Sanctions
When it comes to sanctioning parties that have broken the rules and regulations, there are many things the MAS can do:
- Targeted financial sanctions
- Supervisory reminders
- Prohibition orders
- Civil penalties
- Reprimands
- Warnings
For those wishing to contact the Monetary Authority of Singapore for any support or advice, the helpdesk is available Monday to Fridays between 8:30 am to 6.00 pm, via telephone or email.
FinTech
The Monetary Authority of Singapore’s FinTech regulatory sandbox enables financial institutions to experiment with innovative financial products or services. The MAS provides regulatory support by relaxing specific legal and regulatory requirements for the duration of the sandbox. Upon completion and successful experimentation, the sandbox entity must fully comply with the relevant legal and regulatory requirements.
Cryptocurrency
The Monetary Authority of Singapore has seen the potential of digital and virtual currency, or cryptocurrency and the blockchain. The world is going through a digital transformation which the MAS recognises. It aims to cement itself as a key player for crypto-related businesses and has developed strong regulations for firms to operate.
This has attracted crypto firms like Binance who are now in partnership with the Monetary Authority of Singapore in facilitating the trading of Bitcoin and other cryptos coins. Project Ubin is another collaborative project that the MAS is involved in which aims to explore the use of blockchain and distributed ledger technology for clearing and settlement of payments, for example, PayPal payments.
Environmental Concerns
The Monetary Authority of Singapore believes in sustainable and green trade finance. As the effects of climate change grip the planet, the MAS is incorporating environmental, social and governance (ESG) factors into its financing decisions. It wants to promote sustainable finance within the sector and encourages institutions to consider ESG criteria in their decision making.
Final Thoughts On The MAS
The Monetary Authority of Singapore is responsible for overseeing and supervising all aspects of Singapore’s financial sector, from the central bank to trading brokers and insurance providers.
The MAS sets out tough guidelines that all financial services providers must meet to ensure the market is fair and safe. With other initiatives such as the FinTech and Innovation sandbox, ESG guidelines and cryptocurrency projects, it’s no wonder that the MAS continues to promote Singapore as a robust financial centre.
Before you sign up to a broker, it would be wise to ensure that they hold a license by conducting an entity search on the Monetary Authority of Singapore’s public register. Alternatively, check out our list of MAS brokers today.
FAQs
What Does The Monetary Authority Of Singapore Do?
The MAS is the central bank and financial regulatory authority of Singapore. It covers anything relating to banking, money, insurance, securities and the wider financial sector.
Who Owns The Monetary Authority Of Singapore?
In terms of ownership, the MAS is a government body. It operates as a government agency and is not owned by a private party.
The Monetary Authority Of Singapore Is Under Which Ministry?
The MAS is governed by a board of directors and supported by its management team. It is chaired by Singapore’s Minister for Finance.
Does The Monetary Authority Of Singapore Regulate Forex Brokers?
Yes, the MAS regulates forex brokers. It regulates any financial services provider operating in Singapore. Traders signing up to a broker in Singapore should always ensure that they are licensed by the Monetary Authority of Singapore.
What Preceded The Monetary Authority Of Singapore?
There was no official body prior to the MAS. Before 1971, government departments and agencies regulated the financial sector.