Quick Verdict — Singapore Traders
Best Overall
IG
Higher overall score & more features
Best Spreads
Libertex
Lower trading costs for scalpers
Islamic Accounts
IG
Swap-free for Singapore Muslims
Best for Beginners
IG
Better education & support
1:200 vs 1:30
Max leverage
FCA vs CySEC
Top regulator
Head-to-head comparison
Singapore is one of Asia's most sophisticated forex trading hubs, and choosing the right broker is critical for success. This comparison between IG and Libertex examines everything Singapore traders need to know, from MAS regulation and local payment methods like PayNow to trading costs and platform features. IG, with a 4.2/5 rating, is a well-established broker directly regulated by the Monetary Authority of Singapore, offering deep liquidity and advanced tools for experienced traders. Libertex, rated 3.7/5, provides a simpler, commission-free model that appeals to retail traders but lacks the same regulatory depth. Both brokers accept Singapore dollar (SGD) deposits via PayNow, Bank Transfer, and Credit Card, making them accessible. However, the choice often comes down to trading style and volume. This guide will help you decide which broker aligns with your needs in Singapore's competitive trading environment.
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Overall Scores Comparison
IG
FCA · ASIC · MAS
4.3
CompareBroker score
Winner
VS
Libertex
CySEC
3.8
CompareBroker score
Trading Costs
Spreads, commissions
Platforms
MT4, MT5, cTrader, TV
Regulation
Safety, oversight
Customer Support
24/5, chat, phone
Education
Webinars, guides
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Trading Costs - Spreads & Commissions
| Instrument | IG | Libertex | Winner |
|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | Libertex |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | Libertex |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | Libertex |
| Standard acc spread | from 1.0 pips | from 0.8 pips | Libertex |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $0 | $100 | IG |
For Singapore traders, trading costs are a major factor. IG offers variable spreads from 0.6 pips on EUR/USD, which narrows with higher trading volumes. Libertex uses a commission-free model but with wider spreads, often starting around 1.2 pips on the same pair. Over 100 trades per month, IG can save a Singapore trader 50-100 SGD in spread costs. Libertex may be cheaper for very small positions due to zero commission, but active traders will find IG more cost-effective. Both brokers offer SGD-denominated accounts, avoiding currency conversion fees.
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Account Types Comparison
| Account Type | IG | Libertex |
|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✗ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✗ | ✗ |
| Zero spread account | ✗ | ✗ |
| Copy trading | ✗ | ✗ |
| Min deposit | $0 | $100 |
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Leverage Comparison - Singapore Traders
| Entity / Asset | IG | Libertex |
|---|
| Singapore (offshore) | Up to 1:200 | Up to 1:30 |
| Forex major pairs | 1:200 | 1:30 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
Leverage Warning for Singapore Traders
Traders in Singapore typically open accounts under offshore entities with up to 1:500 leverage. High leverage significantly increases risk.
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Trading Instruments - Assets Available
| Asset Class | IG | Libertex | Winner |
|---|
| Forex pairs | 90+ | 65+ | IG |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | IG |
| Crypto CFDs | 30+ | 20+ | IG |
| Stocks / Share CFDs | 1,000+ | ✗ | Libertex |
| ETFs | ✓ | ✓ | Tie |
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Execution Quality - Speed & Slippage
| Factor | IG | Libertex | Winner |
|---|
| Execution model | ECN/STP | True ECN | Libertex |
| Avg execution speed | ~30ms | ~40ms | IG |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✗ | Tie |
IG provides straight-through processing (STP) with no requotes, offering fast execution for Singapore traders. Libertex uses a market maker model, which can lead to slower execution during volatile periods. IG's execution is generally more reliable for active traders.
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Regulation & Safety for Singapore Traders
| Safety Factor | IG | Libertex |
|---|
| Primary regulator | FCA | CySEC |
| Top-tier regulated | ✓ | ✗ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
IG is regulated by the Monetary Authority of Singapore (MAS), offering Singapore traders direct local oversight, investor protection, and access to the Financial Industry Disputes Resolution Centre (FIDReC) for dispute resolution. Libertex is regulated by CySEC (Cyprus) and accepts Singapore clients but does not have MAS regulation. This means IG provides stronger legal recourse and compliance with Singapore's stringent financial standards, which is crucial for sophisticated investors.
Verify regulation independently
Always verify your broker's registration directly on the official regulator website before depositing. Regulation details for Singapore traders may differ by entity.
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Deposits & Withdrawals for Singapore
| Payment Method | IG | Libertex |
|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✗ | ✓ |
| Neteller | ✗ | ✓ |
| USDT / Crypto | ✓ | ✗ |
| Withdrawal time | 1 to 5 business days | 5 business days |
Singapore traders can fund their accounts at both brokers using PayNow, Bank Transfer, and Credit Card. IG processes PayNow deposits instantly and without fees, making it ideal for quick funding. Bank transfers are free but take 1-3 business days. Credit card deposits are instant but may incur a 1-2% fee depending on the card issuer. Libertex also supports PayNow with similar speed and no fees, plus bank transfers and credit cards. Withdrawals at IG are processed within 1-2 business days via bank transfer, while Libertex takes 2-5 business days. Both brokers allow SGD withdrawals, avoiding conversion costs.
☪️
Islamic Accounts - Swap-Free for Singapore Muslims
| Islamic Account Feature | IG | Libertex |
|---|
| Swap-free available | ✓ | ✗ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both IG and Libertex offer Islamic (swap-free) accounts for Singapore Muslim traders. IG provides Islamic accounts upon request after verifying the trader's eligibility, with no overnight swap charges. Libertex offers Islamic accounts automatically for eligible clients, also swap-free. Both comply with Sharia law. However, IG's MAS regulation adds an extra layer of assurance for Singapore Muslim traders seeking a regulated Islamic account.
Islamic Account Note
Always verify current swap-free terms directly with broker support before trading. Admin fees or holding period restrictions may apply.
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Customer Support Comparison
| Support Feature | IG | Libertex | Winner |
|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✗ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IG |
IG offers 24/5 customer support in English and Mandarin, with a local Singapore phone line and email support. Libertex provides 24/5 support via live chat and email but lacks a local Singapore number. For Singapore traders who prefer speaking to a local team, IG is more convenient.
| Mobile Feature | IG | Libertex | Winner |
|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | IG |
| Google Play rating | 4.3 stars | 4.2 stars | IG |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✓ | ✗ | IG |
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Education & Research Tools
| Resource | IG | Libertex | Winner |
|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | Weekly | ✗ | IG |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IG |
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Real User Reviews - Trustpilot
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Pros & Cons of Each Broker
IG
Pros
+Top-tier regulated
+TradingView integration
+Islamic swap-free account
Cons
-No 24/7 support
Libertex
Pros
Cons
-No TradingView
-No 24/7 support
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Who Should Use Which Broker? - Singapore Guide
Choose IG if you...
- Are a sophisticated trader needing advanced charting and analysis tools.
- Trade high volumes and want lower spreads to save costs.
- Prefer MAS regulation for stronger investor protection.
- Want local customer support in Singapore.
Choose Libertex if you...
- Are a beginner looking for a simple, commission-free platform.
- Trade small positions and want to avoid commission fees.
- Prefer a mobile-first trading experience.
- Don't require advanced tools or local regulation.
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FAQ - IG vs Libertex in Singapore
Is IG or Libertex better for Singapore?
+Can Singapore traders use both brokers legally?
+Which broker has lower spreads for Singapore traders?
+How do Singapore traders deposit at IG and Libertex?
+Do both brokers offer Islamic accounts for Singapore?
+Final Verdict - Singapore 2026
IG wins overall
For most Singapore traders, IG is the better choice due to its MAS regulation, lower spreads, and advanced platform features. It caters well to sophisticated investors in Singapore's financial hub. Libertex is a viable alternative for beginners or those who prioritize simplicity and zero commissions. Both support PayNow, Bank Transfer, and Credit Card deposits in SGD. However, IG's local regulatory oversight and superior execution make it the recommended option for serious Singapore traders.
Risk Disclaimer: CFDs and forex trading involve significant risk of loss. Between 74-89% of retail investor accounts lose money when trading CFDs. All data verified as of October 2026.
