Best Forex Bonuses in Singapore 2026

Forex bonuses in Singapore present a unique situation for traders in 2026. The Monetary Authority of Singapore (MAS) is one of the strictest financial regulators in Asia, and MAS-licensed brokers do not offer promotional bonuses to retail clients. However, Singapore residents can access no deposit bonuses available in Singapore, deposit match offers, and cashback programs from international brokers operating under offshore licenses. Every offer listed on this page is verified against our Broker & Bonus Matrix — we do not invent or estimate figures.

Important: Forex bonuses are banned for retail clients in the EU, UK, Australia, and the United States. Singapore has no equivalent blanket ban on bonuses, but MAS-regulated brokers voluntarily avoid them as part of their compliance culture. The offers on this page are available through brokers’ offshore entities, not their MAS-licensed operations. This page contains affiliate links. We may earn a commission if you open an account through our links — see our affiliate disclosure for full details. Risk warning: Forex and CFD trading carries significant risk. Most retail traders lose money when trading these products. Never trade with funds you cannot afford to lose.

Verified June 2026 by Tim Morris

Best Forex Bonuses for Singapore Traders

Singapore is a global financial hub, but that status comes with strict regulatory oversight. The distinction that matters for bonus seekers: MAS-licensed brokers serve the domestic market with full regulatory protection but no promotional bonuses. International brokers serve Singapore residents through offshore entities with bonus programs but reduced regulatory coverage. Understanding this trade-off is essential before claiming any offer.

The table below lists brokers with verified bonus offers available to Singapore residents. All data comes directly from our Broker & Bonus Matrix — the single source of truth for every figure on this site.

How We Select These Brokers

Not every broker makes this list. Each one must pass our vetting standard before we feature it. That means verified regulation (even if offshore), a clean withdrawal track record, and transparent bonus terms. Brokers that fail the standard go on our do-not-promote list regardless of commission rates.

Singapore traders should pay close attention to three factors when comparing bonus offers: the volume requirement (how many lots you must trade before withdrawing bonus profits), the time limit (how long you have to meet that requirement), and the profit cap (the maximum you can withdraw from the bonus). A large headline bonus number means nothing if the conditions make withdrawal impractical.

For a complete explanation of how each bonus type works and what to watch for, read our forex bonus guide.

No Deposit Bonuses Available in Singapore

A no deposit bonus gives you trading credit without requiring any upfront payment. You register, verify your identity, and receive a small amount of credit to trade with. If you meet the volume and time conditions, you can withdraw real profits. It is the lowest-risk way to test a new broker because you are not putting your own money on the line.

Several brokers in our Matrix explicitly list Singapore (SG) as an eligible country for their no deposit bonus programs. Here is what is currently verified.

NDB Comparison for Singapore Traders

Broker	NDB Amount	Volume Requirement	Time Limit	Profit Cap	SG Eligible
XM	$50	10 micro lots (0.1 standard lots), min 5 round-turn trades	No claim window stated in current T&C	No cap stated	Yes (confirmed)
FBS	$100 (Quick Start)	Complete 7-step educational program	30 days	$100 max profit	Yes
InstaForex	Up to $3,500 (StartUp)	X*3 InstaForex lots	Account converts to demo if no deposit in 7 days	No explicit cap (deposit required first)	Yes (confirmed)
JustMarkets	$30 (last recorded)	5 lots in 30 days, min 60 pips cumulative	30 days	$30 max profit	Unverified — not currently published — SG is not excluded, but the offer is not on JustMarkets’ site (checked 18 Aug 2026)
FXGT	Amount not published ([NEEDS-VERIFICATION] — region-gated; sources conflict between $30 and $50)	Reported 3 QGTLots + 8 closed trades (unconfirmed)	Claim within 30 days of registration	Reported: profits withdrawable only above $300	Region-gated; SG’s presence on the eligible list is doubtful
HFM	$50	4 lots, 10 positions on Gold/Forex	EXPIRED as of June 2026	$300 max withdrawal	Expired

All figures come from our Broker & Bonus Matrix and are verified against broker terms.

Key exclusions for Singapore: Tickmill explicitly excludes Singapore from its Welcome Account offer. Vantage also excludes Singapore from its NDB program. Tickmill’s NFP Machine prediction contest similarly excludes SG residents. Always confirm your eligibility directly with the broker before signing up.

What Singapore Traders Should Check Before Claiming an NDB

Before you sign up for any no deposit bonus, confirm these five things:

1. Volume requirement — how many standard lots you need to trade. If the requirement is very high relative to the bonus credit, the bonus may not be practically withdrawable.
2. Time limit — most NDBs expire within 7 to 30 days. If you cannot trade the required volume in that window, the bonus and profits are forfeited.
3. Profit cap — many brokers limit the maximum profit you can withdraw from an NDB. JustMarkets capped it at $30 under its last recorded terms (that offer is unverified — not currently published on JustMarkets’ site). FXGT requires your profits to exceed $300 before any withdrawal is allowed.
4. KYC verification — Singapore traders will need to provide a government-issued ID (NRIC, passport) and proof of address. Complete verification before you start trading to avoid withdrawal delays.
5. Entity check — confirm which entity you are registering under. You should be opening an account with the broker’s offshore entity (Belize, Seychelles, BVI), not any MAS-licensed subsidiary, as MAS entities do not offer bonuses.

No deposit bonuses are best used as a test drive. They let you try the broker’s platform, check execution quality, and test the withdrawal process — all without putting your own capital at stake. Browse more NDB options on our dedicated no deposit bonus page.

Deposit and Welcome Bonuses in Singapore

Deposit bonuses add extra trading credit on top of your own deposit. You fund your account and receive a percentage of your deposit as bonus credit. These offers increase your effective trading capital, but they come with conditions that you must understand before committing real money.

Deposit Bonus Comparison for Singapore Traders

Broker	Bonus Type	Match % / Amount	Min. Deposit	Volume Requirement	SG Eligible
XM	Deposit	50% up to $500 + 20% up to $4,500 (total max $5,000)	$5	Non-withdrawable credit; no explicit lot requirement	Yes (confirmed)
InstaForex	Welcome 30%	30% on every deposit	$1	X*3 InstaForex lots	Yes (confirmed)
InstaForex	Double Deposit	100% up to $2,000	$1	X*3 InstaForex lots	Yes (confirmed)
JustMarkets	Tiered (last recorded)	50% / 100% / 120% (by deposit size)	$10 / $100 / $500	Bonus / 2 = lots	Unverified — not currently published (checked 18 Aug 2026)
RoboForex	Classic	Up to 120%, max $50,000 total	$10	Bonus / 2 = lots (12-month deadline)	Yes
FXGT	Welcome	Amount not published — the “50% up to $500” figure is unconfirmable from FXGT’s official pages and is flagged [NEEDS-VERIFICATION] in our Matrix	$5	Varies by tier (QGTLots)	Region-dependent
FXGT	Milestone	30% after 3 QGTLots	$5	3 QGTLots to unlock	Yes
Exness	—	No bonus program — Exness officially states it offers no welcome, deposit or trading bonuses	$10	—	N/A
OctaFX	Deposit	50% on each deposit	$25	Bonus / 2 = standard lots	Yes (only EU/UK/AU/US excluded)

Notable exclusions: AvaTrade excludes Singapore from its deposit bonus and referral programs. Windsor Brokers does not explicitly list Singapore. FBS deposit bonus has a confirmed country list that does not include SG — check directly with the broker. HFM’s former Supercharged Bonus (now withdrawn) did not list SG in its eligible countries.

All figures from our Broker & Bonus Matrix. Browse our broker reviews for verified terms.

Key Terms to Understand

• Match percentage — a 100% match doubles your effective capital; a 50% match adds half. Verify the exact percentage in the Matrix.
• Maximum bonus amount — most deposit bonuses are capped even at high match percentages. XM caps the total at $5,000 across both tiers.
• Minimum deposit — some welcome bonuses require a higher minimum than the broker’s standard. Convert SGD to USD to check your budget.
• Volume requirement — the critical factor. Deposit bonuses typically require significant lot volume. JustMarkets required bonus / 2 in lots under its last recorded terms (unverified). InstaForex uses its own lot measurement (1 market lot = 10 InstaForex lots).
• Withdrawal lock — some brokers remove the bonus entirely if you withdraw any funds. Others deduct proportionally. Read terms carefully before depositing.

Cashback and Loyalty Programs

Cashback programs reward ongoing trading activity rather than a single deposit. For active Singapore traders, these programs can deliver more value over time than a one-time deposit bonus.

• XM — XM Traders Club, which awards XM Coins redeemable for bonuses, cash, trading tools and rewards. This program replaced the older XMP scheme, and XM does not publish its earn rates, tiers or redemption values, so we publish no figures for it; the Executive-to-Elite tier tables that still circulate describe the retired program.
• RoboForex — cashback rebates by account type and volume tier. ECN accounts earn 5-10% of commission back. Minimum 10 lots per month. Payouts are withdrawable cash, not bonus credit. Also offers up to 10% annual interest on account balance.
• JustMarkets — 10% cashback from spreads and commissions, paid as JM USD reward currency.
• FXGT — a Rebate Bonus exists, but its rate is region-gated and could not be confirmed from FXGT’s official pages, so it sits at unverified status in our Matrix and we publish no rate for it.
• OctaFX — Trade and Win loyalty program where SG is listed as eligible. Earn prize lots for trading (with status tier multipliers), redeemable for physical merchandise.

Use our bonus finder to filter offers by type, broker, and country.

Brokers That Accept Singapore Traders

Singapore’s position as a premier financial centre means most international brokers actively seek Singapore-based clients. However, the broker landscape splits into two distinct categories that every trader must understand. If you want the ranked shortlist rather than the bonus-by-bonus view on this page, see our best forex brokers in Singapore comparison, which scores the same brokers on regulation, spreads, SGD funding and platform quality.

MAS-Licensed Brokers vs. Offshore Brokers

MAS-licensed brokers operate under the Securities and Futures Act (SFA) and are supervised by the Monetary Authority of Singapore. These include well-known names with Capital Markets Services (CMS) licences. MAS-licensed brokers provide the highest level of regulatory protection: client fund segregation, dispute resolution through MAS channels, and adherence to conduct standards. The trade-off: MAS-licensed brokers do not offer promotional bonuses. Their compliance framework mirrors the strict standards of the EU, UK, and Australian regulators.

Offshore brokers — the ones offering bonuses on this page — operate under international licenses from jurisdictions like Belize (FSC/IFSC), Seychelles (FSA), BVI (FSC), Vanuatu (VFSC), and others. Singapore residents can legally open accounts with these brokers. The trade-off: no MAS regulatory protection, no access to Singapore’s dispute resolution framework, and reduced client fund safeguards.

This is not a minor distinction. If a dispute arises with an offshore broker over bonus terms, withdrawal delays, or account closure, you have no MAS intervention available. Our review methodology explains how we evaluate broker credibility beyond the licence jurisdiction.

Payment Methods for Singapore Traders

Singapore has one of the most efficient digital payment ecosystems in Asia, which works in your favour for forex deposits and withdrawals.

PayNow — Singapore’s real-time payment system linked to your mobile number or NRIC. Some brokers accept deposits via PayNow through local payment processors. Instant transfers, no fees from the PayNow side. Check whether your broker’s payment processor supports PayNow before assuming it is available.

FAST (Fast And Secure Transfers) — Enables instant SGD transfers between participating banks. Useful for local bank wire deposits to broker payment processors operating Singapore bank accounts.

DBS, OCBC, UOB bank transfers — Standard international wire transfers from Singapore’s three major banks. Processing typically takes 1-3 business days. International wire fees apply (typically S$20-S$35 per transfer). Most reliable method but slowest and most expensive.

E-wallets and cards — Major brokers accept Visa/Mastercard, Skrill, Neteller, and sometimes GrabPay or other regional e-wallets. Faster than bank wires but may have lower limits.

SGD account availability — Most international brokers denominate accounts in USD. You pay MYR/SGD-to-USD conversion fees on every deposit and withdrawal. A few brokers offer SGD-denominated accounts — ask about this before committing, as it can save meaningful amounts on frequent transactions.

Broker Comparison for Singapore

Broker	Min. Deposit (USD)	Platforms	Regulation	Bonus Types Available	SG Payment Support
XM	$5	MT4, MT5	CySEC, Belize FSC, DFSA	NDB, Deposit, Loyalty	Bank transfer
InstaForex	$1	MT4, MT5	BVI FSC	NDB, Deposit, Loyalty	Bank transfer
Exness	$10	MT4, MT5, Exness Terminal	FCA, CySEC, FSA (Seychelles)	None — Exness runs no bonus program; partner rebates only	Bank transfer, e-wallets
JustMarkets	$10	MT4, MT5	FSA (Seychelles), CySEC	Unverified — NDB and deposit bonuses not currently published on JustMarkets’ site (checked 18 Aug 2026); cashback unverified	Bank transfer
FXGT	$5	MT4, MT5	FSA (Seychelles), VFSC	NDB, Welcome, Loyalty	Bank transfer, crypto
RoboForex	$10	MT4, MT5, cTrader	FSC (Belize)	Welcome, Deposit, Cashback	Bank transfer
OctaFX	$25	MT4, MT5, OctaTrader	CySEC, MISA (Mwali)	Deposit, Loyalty	Bank transfer
FBS	$5	MT4, MT5	Belize IFSC, CySEC	NDB, Deposit	Bank transfer

Excluded from this table: AvaTrade (SG excluded from deposit bonus and referral programs), Tickmill (SG excluded from Welcome Account and NFP contest), Windsor Brokers (SG not listed as eligible).

All bonus-specific amounts, volume requirements, and time limits are maintained in our Broker & Bonus Matrix. See individual broker reviews for full verified terms.

For regional comparisons, see our country hubs for Malaysia and Indonesia — neighbouring Southeast Asian markets with their own broker availability and local payment methods.

Is Forex Trading Legal in Singapore?

Forex trading is fully legal in Singapore. The Monetary Authority of Singapore (MAS) regulates financial markets under the Securities and Futures Act (SFA), and forex trading is a well-established activity within the city-state’s financial ecosystem.

The MAS Regulatory Framework

MAS is a tier-one global regulator, ranked alongside the FCA (UK), ASIC (Australia), and the SEC (US) in terms of strictness and credibility. MAS-licensed brokers must hold a Capital Markets Services (CMS) licence to deal in forex and CFDs.

Key protections under MAS regulation include:

• Client fund segregation — client money must be held separately from the broker’s operating funds.
• Maximum leverage limits — MAS caps retail forex leverage at 1:50 for accredited investors and lower for standard retail clients (1:20 for major pairs, lower for exotics).
• Risk disclosures — mandatory risk warnings and suitability assessments.
• Dispute resolution — MAS provides regulatory channels for complaints against licensed entities.

Why MAS-Licensed Brokers Do Not Offer Bonuses

MAS does not explicitly ban forex bonuses through a specific regulation the way ESMA does in the EU. However, the practical effect is the same: MAS-licensed brokers operate under conduct requirements that make promotional bonuses effectively incompatible with their compliance obligations. This includes rules around fair dealing, suitability, and not inducing clients to trade beyond their means.

The result: if you want forex bonuses as a Singapore trader, you will be opening an account with a broker’s offshore entity, not its MAS-licensed subsidiary (if it has one). This means accepting reduced regulatory protection in exchange for access to promotional offers. That is a conscious choice every Singapore bonus seeker must make.

Are Forex Bonuses Legal for Singapore Residents?

There is no Singapore law that prohibits residents from claiming forex bonuses offered by international brokers. The MAS framework governs what MAS-licensed entities can offer, not what Singapore residents can accept from offshore providers. Singapore traders are free to open accounts with offshore brokers and claim their promotional offers.

The distinction matters: it is the MAS-licensed broker that faces regulatory constraints, not the individual trader. You will not face legal consequences for claiming a bonus from an offshore broker. However, you will trade without MAS protections.

Tax Considerations

Singapore is known for its favourable tax environment, and this extends to trading income. As a general rule, Singapore does not impose capital gains tax on individuals. Forex trading profits earned by individuals who are not professional traders are typically not taxable.

However, if forex trading constitutes your primary business activity — if you trade professionally, full-time, with significant capital and systematic strategies — the Inland Revenue Authority of Singapore (IRAS) may treat your profits as business income, which would be subject to income tax at prevailing rates.

This is general information, not tax advice. The line between personal investment and business activity can be ambiguous. Consult a qualified Singapore tax professional if you trade actively or in large volumes. Keep detailed records of all deposits, withdrawals, trading activity, and bonus credits received.

SGD and Currency Considerations

When depositing to an offshore broker, you convert SGD to USD (or another base currency) and convert back when withdrawing. Key points for Singapore traders:

• Singapore has no capital controls restricting how much SGD you can convert or send abroad for investment purposes.
• Exchange rate fluctuations between SGD and USD directly affect the real value of your deposits and profits. The SGD/USD rate has been relatively stable historically, but it still introduces currency risk.
• PayNow and FAST transfers process in SGD. Your broker or their payment processor handles the conversion. Check the effective rate being applied — it may differ from the interbank rate.
• Keep records of all currency conversions for accounting purposes.

Islamic Accounts for Singapore Traders

Singapore has a significant Malay-Muslim population, and Islamic finance is well-established in the country’s banking sector. For Muslim traders who require Shariah-compliant trading conditions, most international brokers on this page offer Islamic (swap-free) accounts that do not charge or earn overnight interest.

Key considerations for Singapore Muslim traders seeking bonuses:

• Confirm bonus eligibility on Islamic accounts. Not all bonus programs apply to swap-free account types. Some brokers restrict bonuses to standard accounts only. Contact the broker directly before assuming a bonus works on your Islamic account.
• Swap-free is not always cost-free. Some brokers charge an administration fee on Islamic accounts instead of swaps, or widen spreads to compensate. Compare the total cost of trading on Islamic accounts versus standard accounts.
• MAS and Islamic finance. Singapore actively supports Islamic finance through MAS. However, Islamic forex accounts from offshore brokers operate outside this framework.

For a full explanation of how swaps, bonuses, and Shariah compliance interact, read our guide on Islamic forex bonuses.

How to Choose a Forex Broker in Singapore

Choosing the right broker matters more than choosing the biggest bonus. A generous bonus means nothing if you cannot withdraw your profits. If you are opening a first account rather than adding one, how to start forex trading in Singapore covers the MAS-versus-offshore decision, verification and SGD funding step by step.

Step 1: Decide Between MAS-Licensed and Offshore

If your priority is regulatory protection, choose a MAS-licensed broker. You will not get bonuses, but you will trade under one of the world’s strongest regulatory frameworks. If bonuses and higher leverage are important to you, you will use an offshore broker — but go in with your eyes open about the reduced protections.

Step 2: Verify Regulation

For offshore brokers, check that they hold at least one recognised international licence. Belize FSC, Seychelles FSA, CySEC, and BVI FSC are the most common among bonus-offering brokers. Cross-reference against MAS’s investor alert list, which flags unauthorised entities targeting Singapore residents. Our review methodology explains how we evaluate broker credibility.

Step 3: Confirm Singapore Eligibility

Not all bonus offers accept Singapore residents. Our Matrix tracks this for every offer. As noted above, Tickmill, AvaTrade, Windsor Brokers, and Vantage exclude Singapore from specific programs. Always verify your eligibility directly.

Step 4: Check Payment Method Support

Confirm the broker supports your preferred payment method — PayNow, FAST, DBS/OCBC/UOB bank transfer, or e-wallets. Test the deposit process with a small amount first. Confirm the withdrawal method and processing time before committing larger funds.

Step 5: Read the Bonus Terms Completely

Do not sign up based on the headline number alone. Read the full terms, focusing on volume requirement, time limit, profit cap, and whether withdrawing your deposit forfeits the bonus.

Step 6: Start Small and Test

Deposit the minimum amount first. Test the full cycle: deposit, confirm the bonus credits, place a few trades, and attempt a small withdrawal. If the broker passes the test, scale up.

Step 7: Compare Ongoing Value

A one-time bonus gets you started, but long-term value comes from low trading costs and cashback programs. Singapore traders who trade actively should compare the total cost of trading (spreads plus commissions minus cashback) across brokers, not just the welcome bonus size.

Frequently Asked Questions

Can Singapore residents legally claim forex bonuses?

Yes. There is no Singapore law that prohibits residents from claiming forex bonuses offered by international brokers. The MAS regulates what MAS-licensed brokers can offer domestically, but it does not restrict what Singapore residents can accept from offshore providers. However, trading with an offshore broker means you forfeit MAS regulatory protection. If a dispute arises over bonus terms or withdrawals, you have no local regulatory body to escalate to. The offers on this page come from offshore brokers operating under international licenses such as Belize FSC, Seychelles FSA, and BVI FSC.

Why do MAS-licensed brokers not offer bonuses?

MAS-licensed brokers operate under strict conduct requirements that make promotional bonuses effectively incompatible with their compliance framework. While MAS has not issued a specific regulation banning bonuses (unlike ESMA in the EU), the fair dealing guidelines and suitability requirements mean that MAS-licensed entities avoid incentive-based promotions. This is similar to the practical outcome in the EU, UK, and Australia where bonuses are formally prohibited. If you want access to forex bonuses, you will need to use a broker’s offshore entity.

Is forex trading profit taxable in Singapore?

Singapore does not generally impose capital gains tax on individuals. Forex trading profits earned by individuals in a personal capacity are typically not taxable. However, if trading constitutes a business activity — systematic, frequent, full-time trading as your primary income source — IRAS may treat profits as business income subject to income tax. This is general information, not tax advice. Consult a qualified Singapore tax professional for guidance specific to your situation.

What is the best payment method for forex trading in Singapore?

PayNow and FAST transfers are the most convenient options for Singapore traders. PayNow links to your mobile number or NRIC and enables real-time transfers. FAST provides instant SGD bank-to-bank transfers. For international brokers, standard bank wire from DBS, OCBC, or UOB works reliably but takes 1-3 business days and incurs fees (typically S$20-S$35). Check whether your broker’s payment processor supports PayNow or FAST before assuming these options are available for your specific broker.

Do any brokers offer SGD-denominated accounts with bonuses?

Most international brokers that offer bonuses denominate their accounts in USD, EUR, or GBP. SGD-denominated accounts are uncommon among offshore bonus-offering brokers. This means you will pay SGD-to-USD conversion fees on deposits and withdrawals. If minimising conversion costs is important, ask the broker directly about SGD account availability before opening an account. Some brokers absorb conversion fees on certain payment methods — this can save meaningful amounts over time for active traders.