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6 Most Successful Forex Traders in Singapore

The most Successful traders in the world have proven that making money in forex trading is not an impossible feat. Many inspiring stories have been recorded by successful traders around the Southeast Asian region, particularly in Singapore.

  

Choose your quick section of our Forex Traders  in Singapore below.

6 Best Handpicked Forex Traders in Singapore Revealed:

 

Singapore is known as one of the major financial hubs in Asia, with a lot of opportunities on offer – including forex trading.  The list of most Successful Singaporean Forex Traders is also unique, as it features an excellent Female Trader – a rare find.

 

Collin Seow

Twitter account: @collinseow

Collin Seow is the founder of Collinseow.com / TradersGPS and a qualified Chartered Portfolio Manager (CPM) holding a Certified Financial Technician (CFTe) qualification.  Seow is known as a charismatic trainer, his courses assisting potential investors with trading and investment strategies.  Seow has been trading stocks for over 21 years.

 

Rayner Teo

Twitter account: @Rayner_Teo

Rayner Teo is an independent trader, ex-prop trader, and founder of TradingwithRayner.  Teo is without a doubt the most followed trader in Singapore and was voted as one of the top 5 most helpful traders on Twitter, with more than 23,000 users reading his blog each month.  Teo has been trading Forex for over 8 years and has adopted a Trend Following approach.

 

Alex Yeo

Twitter account: @alex_yeo

Alex Yeo is a self-directed trader and co-founder of BigFatPurse, a leading financial education & technology company situated in Singapore.  Yeo primarily trades futures options and holds a Certified Financial Technician (CFTe) designation, accredited by the International Federation of Technical Analysts (IFTA).  Yeo started trading options approximately 3 years ago.

 

Adam Khoo

Twitter account: @adamhooktrader

Adam Khoo is a popular trader, motivator, and author originating from Singapore. Khoo has established multiple training institutions, including Piranha Profits for traders, Wealth Academy for investors, and Adam Khoo Learning Technology Group (AKLTG) for children and teens. In addition, Khoo is also a  best-selling author with books such as Secrets of Self-Made MillionairesMaster Your Mind Design Your DestinySecrets of Millionaire Investors, and many more under his belt.  Khoo graduated from the National University of Singapore as one of the top 1%.  In 2008, Khoo took his place on the list of the 25 richest Singaporeans under 40.

 

 

Karen Foo

Twitter account: @karenFoo8

Karen Foo is known as a world-class financial advisor and has been invited to speak at multiple international events in various countries such as Brunei, China, Hong Kong, and many more.  Foo has been included in the Top 30 Financial Experts of Asia by Street Smart University and is frequently invited to be a motivational speaker for events participated by CEOs and top investors.  Foo is also a bestselling author who shares her experiences in her books, including Turning Ideas into Profit and Your Cash Moves, the preface of which is written by Adam Khoo.  Foo actively shares motivational words, tips, tricks, experiences, and strategies in forex trading through her social media accounts.

 

Lukasz Wilhelm

 

Although Lukasz Wilhelm does not live in Singapore, he does have a wide range of students from this part of Asia. For this reason, Wilhelm is included in this list. He is by far the most successful of the listed traders in terms of trade profit having. Wilhelm has made over $2M in a single day. Lukasz Wilhelm is the developer of the IQD momentum Trading system. Wilhelm is also a hedge fund manager which takes pride in growing new traders into potential millionaires.

 

When it comes to profits and risks in the Forex Market, they walk shoulder to shoulder. Singaporean traders need to know how to reduce their risk and one of the key things is to choose a reliable Forex brokerMultiple globally regulated Forex Brokers accept Singaporean traders and here is an overview of the 10 Best available.

 

Pepperstone

 

Pepperstone was founded in 2010 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the UK’s Financial Conduct Authority (FCA).

 

Pros and Cons

 

Pros Cons
Segregates client funds Limited range of instruments
Established in 2010
Min. deposit from $200

 

Trading platforms on offer include MetaTrader 4MetaTrader 5 and cTrader. All three FX trading platforms come with a free demo account which will allow traders to test out the forex broker and platform for 30 days.

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Mini account Bank Transfer
Offers STP Standard account PayPal
Low min deposit MAM/PAMM account Skrill
Offers Negative Balance Protection Islamic account Payoneer
Neteller

 

Pepperstone offers 24/5 multiple language support via email, phone and live chat.

 

XM Group

 

XM Group (XM) is a group of regulated online brokers regulated by the Cyprus Securities and Exchange Commission.

 

Pros and Cons

 

Pros Cons
• Low stock CFD and withdrawal fees • Limited product portfolio
• Easy and fast account opening • Average forex and stock index CFD fees
• Great educational tools • No investor protection for non-EU clients

 

XM offers traders more than 1000 financial instruments to trade on both the MT4 and MT5 platforms, including Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDsForex trading is available on over 55 pairs, including the major USD, GBP, EUR and JPY pairs.  Traders must take note that XM does not offer binary options or futures.

 

Trading benefits

 

Trading Features Accounts Offered Funding Methods
Negative Balance Protection Micro Wire Transfer
Low Spreads Standard Credit/Debit
Low Commission XM Zero Neteller
Hedging Allowed UnionPay
Scalping Allowed WebMoney
Qiwi

 

Customer Service is available via live chat, Phone and email support.

 

HotForex

 

HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.

 

Pros and Cons

 

Pros Cons
Segregates client funds Limited range of instruments
Established in 2010 Not FCA Regulated
Regulated by CySEC
Min. deposit from $1

 

The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar.  The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

 

Trading Benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Micro account Credit cards
Allows hedging Mini account Bank Transfer
Offers STP Standard account Neteller
Low min deposit Zero spread account
Offers Negative Balance Protection Islamic account

 

Customer support is available via phone and email.

 

IQ Option

 

IQ Option is a broker developed under the IQ Option Europe company which was founded in 2013. IQ Option contains a CySEC license Cyprus Securities and Exchange Commission from Cyprus, with permission to provide its financial services within the European Economic Area zone, with several licenses from other EU local jurisdictions. IQ Option offers its clients services in binary options, stocks and shares, currencies, and ETF trading.

 

Pros and Cons

 

Pros Cons
Regulated by the Cyprus Securities and Exchange Commission (CySEC)

 

Does not provide MT4 and MT5 trading platforms

 

Easy and convenient method of opening an account

 

Not available for traders in the US, Canada, Australia, Japan, and other countries

 

Wide range of trading instruments on offer

 

 
No deposit and withdrawal fees

 

 

 

IQ Option provides clients with a proprietary platform which is also used for CFDs and for binary options tradingTraders can also install the mobile trading app which is provided free of charge. The mobile trading app has been designed specifically for use on smartphones and mobile devices and allows traders to check their account status, keep updated with all the developments in the market as well as to execute trades.

 

Trading benefits

 

Trading Features Accounts Offered Funding Methods
Low min. deposit Standard Alipay
Low Spreads VIP Credit Card
Regulated by CySec Demo MoneyGram
Perfect Money
QIWI
Skrill
Wire Transfer

 

The IQ Options trading platform and website are available to traders in thirteen different languages and allows traders to choose the currency to trade with. The selections of currencies are: GBP, RUB, EUR, IDR, USD, MUR, and Yuan.

 

Customer service is available via email, live chat or the telephone.

 

HYCM

 

HYCM is an online broker which was founded in 1977 and offers Forex and CFDs trading on the popular MT4 forex trading platform plus mobile apps for Android and iOS.

 

Pros and Cons

 

Pros Cons
Segregates client funds Doesn’t offer VPS
Established in 1977 Inactivity Fee
Regulated by Financial Conduct Authority Limited range of instruments
Min. deposit from $1 Not ASIC Regulated

 

Traders starting off with HYCM will need to make a minimum deposit of at least $100 and have the choice to sign up for a demo account perfect for various levels of traders, experienced or novice.

a wide variety of instruments and currency pairs are available for trade:

 

  • Over 100 instruments
  • Over 40 currency pairs

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Micro account Credit cards
Allows hedging Mini account Bank Transfer
Low min deposit Standard account PayPal
Islamic account Payoneer

 

HYCM customer service is available through WhatsApp, Skype, Viber, Telegram Instant messaging services, Facebook Chat and Phone – 24/5.

 

City Index

 

City Index is a world leader in spread betting, FX and CFD Trading, regulated by the Financial Conduct Authority (FCA).  The City Index trading platform offers traders a range of customisation options, which includes 16 chart types with 65+ indicators specifically designed for investors to perform technical analysis.

 

Pros and Cons

 

Pros Cons
Used by 140,000+ traders Doesn’t allow scalping
Established in 1983 Inactivity Fee
Regulated by Financial Conduct Authority, ASIC and MAS Limited range of instruments
Min. deposit from $25

 

To open a live trading account, traders will need a minimum deposit of at least $25.  City Index offers over 12,500 different instruments to trade, including over 84 currency pairs on the ever-popular MetaTrader4 trading platform.

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows hedging Demo account Credit cards
Offers STP Micro account Bank Transfer
Low min deposit Mini account Payoneer
Guaranteed stop loss Standard account
Managed account

 

Multilingual Customer support is available by email, phone, or live chat.

 

AvaTrade

 

AvaTrade is an online broker which was founded in 2006 and offers Forex, CFDs, Spread Betting and Social Trading and is a global broker with their head office situated in The British Virgin Islands. AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa by ASIC, CySEC and FCA.

 

Pros and Cons

 

Pros Cons
Used by 200,000+ traders Doesn’t offer VPS
Established in 2006 Not FCA Regulated
Regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI
Min. deposit from $100

 

For those who are looking to start out with AvaTrade will need a minimum deposit of $250 and a demo account is available for those who want to get acquaint with the popular MT4 forex trading platform.  AvaTrade also offer mobile apps for Android and iOS.

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Micro account Bank Transfer
Low min deposit Mini account PayPal
Standard account Skrill
Islamic account Payoneer
Neteller

 

Customer support is available by email, phone, or live chat.

 

Saxo Bank

 

Saxo is a globally regulated, multi-asset class broker which offers traders the option to trade on more than 40,000 instruments covering Forex, CFDs, Stocks, Options, ETFs, Commodities, Futures, Bonds and Mutual Funds from a single account across multiple platforms including their own – SaxoTraderGO and professional-grade SaxoTraderPRO.

 

Pros and Cons

 

Pros Cons
Segregates client funds Doesn’t allow hedging
Established in 2012 Limited range of instruments
Regulated by Financial Conduct Authority Not ASIC Regulated
Min. deposit from $6,500

 

The Saxo Group is regulated in 15 jurisdictions including authorisation from the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Services Agency of Japan (FSA) and many more.

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Offers STP Mini account Bank Transfer
Low min deposit Standard account Payoneer
ECN account

 

Customer support is available in nearly 30 different languages via phone, email and an FAQ section.

 

OctaFX

 

OctaFX is an online broker which was founded in 2011, offering Forex trading.  As OctaFX is regulated by the Financial Conduct Authority (FCA), each new client must pass a few basic compliance checks when signing up for an account.  OctaFX has won numerous industry awards over the course of 9 years and is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5.

 

Pros and Cons

 

Pros Cons
Used by 300,000+ traders Doesn’t offer VPS
Established in 2011 Limited range of instruments
Regulated by FSA Not FCA Regulated
Min. deposit from $5

 

OctaFX provides an array of educational tools to assist beginner traders to become more experienced and even professionals in trading.

 

Trading benefits

 

Trading benefits Accounts Offered Funding Methods
Allows scalping Demo account Credit cards
Allows hedging Micro account Bank Transfer
Offers STP Mini account Neteller
Low min deposit Standard account
Guaranteed stop loss Zero spread account
Negative Balance Protection STP account
Islamic account

 

Customer Support is available 24/5 via Live Chat, Email, Phone, WhatsApp and an Enquiry Form across multiple languages including English, Indonesian, Hindi, Chinese and more.

 

Forex Time (FXTM)

 

FXTM or ForexTime was founded in 2011 and  is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295.  FXTM offers users seven different accounts types where the execution method, range of markets, available platform, and commissions and fees may vary.  Three accounts are offered under the Standard category.  Forex Time (FXTM) is a MetaTrader broker which offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.

 

Pros and Cons

 

Pros Cons
Segregates client funds Limited range of instruments
Established in 2011 Not ASIC Regulated
Regulated by CySEC
Min. deposit from $10

 

FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.

 

Trading benefits

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Micro account Bank Transfer
Offers STP Mini account Payoneer
Low min deposit Standard account Neteller
Offers Negative Balance Protection Zero spread account
ECN account
Islamic account

 

Customer Service is available phone, email, online chat options – WhatsApp, live chat, Viber, Telegram or Messenger.

 

Conclusion

 

For traders who wish to learn more about trading in general, it is strongly recommend that they first focus on self-education. Most Forex Brokers will offer a comprehensive guide of seminars, webinars or articles and a demo account is also a good way to refine their trading strategies without taking risks with actual money

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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