Which broker is better for Singapore traders in 2026? Expert analysis across 12 categories.
Singapore is one of Asia’s most advanced forex trading hubs, and traders here demand low costs, fast execution, and reliable regulation. IC Markets and Hantec Markets are two brokers that serve Singapore clients, but they cater to different trader profiles. IC Markets, with a 4.8/5 score, is a global ECN broker known for tight spreads and deep liquidity—ideal for sophisticated investors using MetaTrader or cTrader. Hantec Markets, scoring 3.6/5, is a smaller broker with a focus on personalised service and a more traditional dealing desk model. Both accept SGD deposits via PayNow, bank transfer, and credit card, and both allow Singapore traders to trade major forex pairs, indices, and commodities. This comparison examines spreads, platforms, regulation, and local deposit methods to help you decide which broker fits your trading style in Singapore’s competitive environment.
| Instrument | IC Markets | Hantec Markets | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | Hantec Markets |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | Hantec Markets |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | Hantec Markets |
| Standard acc spread | from 1.0 pips | from 0.8 pips | Hantec Markets |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $10 | Hantec Markets |
For Singapore traders, trading costs directly impact profitability, especially for high-volume strategies. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a $3.50 commission per lot per side. This is highly competitive for scalpers and day traders in Singapore. Hantec Markets has higher spreads, typically from 1.2 pips on EUR/USD with no commission, making it more expensive for active traders. Over 100 lots per month, IC Markets saves Singapore traders hundreds of dollars in spread costs. For swing traders or lower-frequency traders, Hantec Markets' fixed spreads may offer simplicity, but IC Markets remains the cost leader for serious traders.
| Account Type | IC Markets | Hantec Markets |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✗ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $200 | $10 |
| Entity / Asset | IC Markets | Hantec Markets |
|---|---|---|
| Singapore (offshore) | Up to 1:5000 | Up to 1:500 |
| Forex major pairs | 1:5000 | 1:500 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
| Asset Class | IC Markets | Hantec Markets | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | IC Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | IC Markets |
| Crypto CFDs | 30+ | ✗ | IC Markets |
| Stocks / Share CFDs | ✗ | 1,700+ | Hantec Markets |
| ETFs | ✗ | ✗ | Tie |
| Platform | IC Markets | Hantec Markets |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✓ | ✗ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
Singapore traders often use MetaTrader 4, MetaTrader 5, or cTrader for advanced charting and automated trading. IC Markets supports all three, including cTrader’s web and mobile versions, which is popular among algorithmic traders. Hantec Markets offers MT4 and its own web platform but lacks cTrader. For Singapore traders who rely on Expert Advisors (EAs) or custom indicators, IC Markets provides broader compatibility and faster execution through its Equinix NY4 data centre. Both brokers offer mobile apps, but IC Markets’ platform range is more suited to the technical demands of sophisticated investors in Singapore.
| Factor | IC Markets | Hantec Markets | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | Hantec Markets |
| Avg execution speed | ~30ms | ~40ms | IC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
IC Markets uses an ECN/STP model with execution speeds under 40 milliseconds, making it ideal for scalpers and high-frequency traders in Singapore. Hantec Markets operates a hybrid dealing desk, which can introduce requotes during fast markets. IC Markets’ direct market access and no dealing desk intervention provide more consistent fills for Singapore traders, particularly on major forex pairs like USD/SGD and EUR/USD.
| Safety Factor | IC Markets | Hantec Markets |
|---|---|---|
| Primary regulator | ASIC | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Regulation is a key concern for Singapore traders, even though MAS does not directly oversee offshore brokers. IC Markets is regulated by the Seychelles Financial Services Authority (FSA) and holds licenses in Cyprus (CySEC) and Australia (ASIC). Hantec Markets is regulated by the UK’s Financial Conduct Authority (FCA) and the Financial Services Authority (FSA) in Seychelles. For Singapore traders, FCA regulation offers strong client protection, including negative balance protection. IC Markets’ ASIC license also provides a high standard of oversight. Neither broker is MAS-regulated, but both operate legally and accept Singapore clients with appropriate risk disclosures.
| Payment Method | IC Markets | Hantec Markets |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✗ |
| Withdrawal time | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days | Crypto / USDT: 1 to 3 hours (for eligible wallets)E-wallets: Within hours up to 1 dayBank / Wire Transfers: 2 to 5 business days |
Singapore traders can fund their accounts using PayNow, bank transfer, or credit card at both brokers. IC Markets accepts SGD deposits via PayNow with instant processing and no fees, plus bank transfers (1-3 business days) and credit cards (instant). Minimum deposit is $200 SGD. Hantec Markets also supports PayNow and FAST transfers, with a minimum of $500 SGD. Credit card deposits are available but may incur a small fee. Withdrawals at IC Markets are processed within 1-2 business days via bank transfer or PayNow, while Hantec Markets takes 2-5 business days. Both brokers do not charge internal withdrawal fees, but bank intermediary fees may apply. For Singapore traders, PayNow offers the fastest and most cost-effective deposit method at both brokers.
| Islamic Account Feature | IC Markets | Hantec Markets |
|---|---|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Muslim traders in Singapore can open Islamic (swap-free) accounts at both IC Markets and Hantec Markets. IC Markets offers swap-free accounts on request for all account types, with no overnight interest charges on forex and metal pairs. Hantec Markets provides a dedicated Islamic account option that is automatically swap-free. Both brokers require the account to be used for genuine trading purposes and not for arbitrage. For Singapore Muslim traders, IC Markets’ lower spreads make it a more cost-effective choice for swap-free trading, especially for longer-term positions.
| Support Feature | IC Markets | Hantec Markets | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
IC Markets offers 24/7 multilingual support via live chat, email, and phone, with a dedicated team for Asia-Pacific clients including Singapore. Response times are typically under 30 seconds for live chat. Hantec Markets provides support during Asian trading hours via phone and email, with live chat available but less responsive. For Singapore traders, IC Markets’ round-the-clock support is more reliable, especially during volatile market sessions.
| Mobile Feature | IC Markets | Hantec Markets | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | IC Markets |
| Google Play rating | 4.3 stars | 4.2 stars | IC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
| Resource | IC Markets | Hantec Markets | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | ✗ | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
Choose IC Markets if you...
Choose Hantec Markets if you...
For sophisticated Singapore traders, IC Markets is the clear winner with its 4.8/5 score, lower spreads, faster execution, and broader platform support. It handles high-volume strategies efficiently and supports PayNow deposits for quick funding. Hantec Markets, scoring 3.6/5, is a reliable alternative for traders who prioritise FCA regulation and a simpler trading experience, but its higher spreads and slower execution limit its appeal for active traders. Neither broker is MAS-regulated, but both are legally accessible from Singapore. If cost and speed matter most, choose IC Markets. If regulatory comfort and a traditional approach are your priorities, Hantec Markets may suffice.