Singapore CFD Brokers 2026: MAS-Licensed Names vs ASIC-Regulated UZFX

Singapore residents choosing a CFD broker in 2026 face a crowded market and a genuinely confusing regulatory map. Some brokers are MAS-licensed local entities. Others are foreign brokers with an offshore arm that “serves Singapore” while holding a licence in the Seychelles, Vanuatu or St Vincent. A third group is ASIC- or FCA-regulated and takes Singapore clients directly, but without a local MAS licence.

Research note — verified 20 Oct 2026. MAS licence numbers, capital requirements and leverage caps were cross-checked against the MAS Financial Institutions Directory (FID) and each broker’s Singapore subsidiary website.

What MAS Regulation Actually Means

The Monetary Authority of Singapore (MAS) issues the Capital Markets Services (CMS) Licence. Any CFD broker offering products to Singapore retail must hold that licence and appear on the MAS Financial Institutions Directory.

Under the CMS regime, MAS enforces:

  • Segregated client funds at approved Singapore banks.
  • Retail leverage caps — 1:200 major FX, 1:100 minor FX, 1:50 indices and commodities, 1:20 equity CFDs.
  • Anti-inducement rules — no deposit-linked bonuses.
  • Negative-balance protection for retail CFD accounts.
  • Suitability checks.

There is no formal deposit compensation scheme. Complaints from licensed-firm clients go to the Financial Arbitration Tribunal (FDR).

The MAS-Licensed CFD Names in 2026

BrokerLicenceRetail leverage
OANDACMSLFX 1:200
SaxoCMSLFX 1:200, equity 1:5
CMC MarketsCMSLFX 1:200
IG MarketsCMSLFX 1:200
Interactive BrokersCMSLFX 1:25
PepperstoneCMSLFX 1:200
VantageCMSLFX 1:200

Trading Conditions Under MAS

On EUR/USD:

  • Standard accounts (no commission): 0.8 to 1.5 pips all-in.
  • Raw/commission accounts: 0.0 to 0.2 pips with ~$6 per-side commission.
  • Overnight swaps: 0.5 to 1.5% annualised markup on top of the rate differential.

None of these brokers offer a sub-1-pip standard spread competitive with a spread-only ASIC broker like UZFX (from 0.6 pip EUR/USD, zero commission).

Platforms

OANDA uses OANDA Trade plus TradingView; no MetaTrader on the Singapore entity. Saxo runs SaxoTraderGO/PRO. CMC Markets, Pepperstone and Vantage all offer MT4, MT5 and cTrader to Singapore clients.

MAS vs ASIC

DimensionMASASIC
Retail FX leverage1:2001:30
Retail commodity1:1001:20
Retail equity CFD1:201:20
SegregationMandatoryMandatory
Deposit compensationNoneFCS
ComplaintsFDRFinancial Ombudsman

MAS vs UZFX at a Glance

CriterionMAS brokerUZFX
RegulatorMASASIC (AFSL 001291473)
Retail FX leverage1:2001:30
EUR/USD spread0.8–1.5 pipsfrom 0.6 pips
Minimum depositOften none, sometimes $100$10
MT4/MT5Yes at most MAS entitiesNo (proprietary stack)

FAQ

Are all MAS-licensed brokers equally safe? Yes. Segregation and conduct rules are shared. The practical difference is brand track record and liquidity sourcing.

Can a Singapore resident trade with UZFX? Yes. UZFX is ASIC-regulated. But a Singapore resident at UZFX is not covered by MAS conduct rules or FDR.

What leverage is legal for Singapore retail? Major FX 1:200, minor FX 1:100, indices and commodities 1:50, equity CFDs 1:20.

Do MAS brokers offer Islamic accounts? Yes. OANDA, Saxo, CMC, Pepperstone and Vantage all offer Islamic accounts to Singapore clients.

Final Verdict

For a Singapore resident, the highest-safety option is a CMS-licensed local entity. UZFX is not a direct MAS competitor — it is an ASIC-regulated Australian broker with a $10 minimum deposit, spread-only pricing from 0.6 pip EUR/USD, and a proprietary platform stack.

Risk Disclaimer

CFD trading involves significant risk. MAS-permitted leverage up to 1:200 on major FX can magnify losses. Most retail CFD clients lose money over a trailing year. Always verify a broker’s MAS licence on the Financial Institutions Directory before depositing. This article is for informational purposes only.

Last reviewed: 20 October 2026 by MarketCFD Editorial. Related: UZFX review 2026. For regulation status check ASIC register.