Plus500 has been one of the best CFD brokers globally since 2008. The broker offers a wide range of online CFDs on forex, shares, commodities, and more!
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The Monetary Authority of Singapore (MAS) is a leading financial regulator tasked with overseeing all the online forex and CFD brokers in Singapore. In the UK, many brokers are overseen by this authority, thus allowing investors to access and explore Singapore financial markets. So, if you have been looking for the best MAS-regulated broker in the UK, this guide is tailored for you.
Besides recommending the top brokers overseen by MAS in the UK, we share additional trading tips. These include choosing the right platform, how to start trading with such brokers, and more.
*76.6% of retail investor accounts lose money when trading CFDs with OANDA provider
**80% of CFD retail accounts lose money on Plus500
***Investment Trends 2022
In this guide
Best MAS Regulated Brokers in the UK
Compare MAS Regulated Brokers in the UK
In our pursuit of recommending the best MAS-regulated brokers in the UK, we go beyond mere testing – we thoroughly compare each contender. Our goal is to leave no table unturned, ensuring that you receive a comprehensive overview before making crucial decisions. Below, we present a detailed table comparing the features of our recommended brokers. Explore this information to make well-informed choices tailored to your trading preferences.
Brief Overview of Our Recommended MAS Brokers’ Fees and Assets
When choosing the best MAS-regulated broker in the UK, prioritise your needs to identify a suitable option. Among the features you need to consider include the broker’s fees and assets, which we have highlighted in the tables below for informed decisions.
Based on our multiple tests and analyses, OANDA takes the lead as our top MAS-regulated broker in the UK. With no minimum deposit requirement, getting started was easy as we had to deposit any amounts we could afford. Moreover, this MAS-regulated broker does not charge any transaction fees across all its supported payment methods. We also like its feature of fully automated trading platforms to ensure users have the best experience. You can trade on its Web, MT4, and TradingView platforms.
Unfortunately, this broker does not support the buying and taking ownership of the underlying assets. Fortunately, there is a vast selection of CFD instruments, including forex, shares, commodities, indices, and more. And the best part is that OANDA supports spread betting, which to UK traders, exposes them to tax-free trading activities. Simply put, OANDA supports professional traders with advanced trading tools on its third-party platforms. For newbies, there is a virtually funded demo account and an excellent collection of learning materials at your disposal.
1
OANDA Review
TradingGuides Rating:
✔ Outstanding research tools
✔ Fast and user-friendly account opening
76.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the risk of losing your money.
Advanced market analysis tools and learning materials offered
A user-friendly and modern design desktop and mobile trading platform
Cons
Only CFD and spread betting services are offered. No buying and taking ownership of the underlying asset
Its inactivity fee of £10 monthly kicks in after only 12 months
Type
Fee
Minimum deposit
$0
Overnight fee
Yes
Deposit fee
$0
Withdrawal fee
$0 to your PayPal account*
Inactivity fee
Yes
*We do not charge a fee for withdrawals made to your PayPal account. If your PayPal account is denominated in a currency other than GBP, EUR or USD, you may incur an exchange fee levied by PayPal.
With OANDA, you can trade forex, indices, metals (a wide range of metals, including gold and silver), commodities and bonds.
2. AvaTrade - Best MAS Regulated Broker For Low-Budget Traders
In our extensive exploration of brokers regulated by the Monetary Authority of Singapore (MAS), AvaTrade emerged as an appealing choice, particularly for low-budget traders seeking a regulated and reliable platform. AvaTrade’s regulation by MAS and other authorities, such as FCA, ensures a level of trust and security for traders operating within Singapore’s financial landscape. The platform’s user-friendly interface and accessibility make it an attractive option for individuals starting with limited trading capital.
We also like that AvaTrade has a low minimum deposit requirement of £100, with competitive spreads. AvaTrade lists 1250+ trading securities, enabling traders with limited funds to access various markets without facing exorbitant entry barriers. Furthermore, AvaTrade’s commitment to providing quality educational resources, risk management tools, and superior social trading platforms contributes significantly to its appeal among novice traders. In this regard, we give it a 4.9-star rating.
1
AvaTrade Review
TradingGuides Rating:
✔ One of the most popular brokers in the UK/EU
✔ Quick deposits and withdrawals
AvaTrade impresses with a robust portfolio of over 1250 assets, encompassing a wide range of trading instruments.
Forex – AvaTrade facilitates trading in a broad spectrum of currency pairs, enabling exposure to the dynamic forex market and diverse CFD options.
Stocks and Commodities – The platform offers a comprehensive selection of stocks and commodities, allowing users to invest in companies and raw materials across global markets.
Cryptocurrencies – AvaTrade supports trading in cryptocurrencies, providing access to a multitude of digital assets, including popular ones like Bitcoin, Ethereum, and more.
ETFs, Bonds, Treasuries, and Indices – AvaTrade’s offerings extend to ETFs, bonds, treasuries, and indices, offering diversification opportunities and exposure to various sectors and industries.
3. Plus500 - Best MAS Regulated Broker for CFD Trading
CFD trading has been made easier with Plus500, thanks to its commission-free trades. We like that this MAS-regulated broker has a user-friendly interface that is compatible with both desktop and mobile devices. Moreover, Plus500 is customisable, allowing users to trade long-term even while advancing their skills. If you are new to CFD trading, try the Plus500 demo account and explore the available securities. The account is virtually funded and risk-free, so you do not have to spend real money.
Getting started at Plus500 requires a minimum deposit requirement of £100 for UK clients. Spreads applicable are also low, from 0.0 pips on major currency pairs. And with free transactions on all deposits and withdrawals, we believe it is suitable for any low-budget CFD traders exploring the financial market. You have an opportunity to day trade without spending a lot of money. While Plus500 may lack some features, such as social trading, we like its advanced resources on its Professional Trading platform. These include higher leverage limits of up to 300:1 for professional clients.
1
Plus500 Review
TradingGuides Rating:
✔ Educational materials
✔ Regulated in many countries
Excellent selection of learning and research materials
Low minimum deposit requirement
Commission-free trades and low spreads
A user-friendly and customisable desktop and mobile trading platform
Cons
Limited asset offerings compared to its peers
No social trading
Type
Fee
Overnight Funding
yes
Currency Conversion Fee
0.7%
Guaranteed Stop Order
spread applies
Inactivity Fee
$10 per month
Withdrawls/Deposits
$0
Plus500 provides access to 2800+ CFDs across a wide range of different asset classes, including: Indices – Country and Sector, Forex, Commodities, Individual shares, ETFs, Options
Note: 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
4. City Index - Best MAS Regulated Broker for Forex Trading
City Index is a forex, CFD, and spread betting broker that gave us one of the best experiences. From our analysis, we find it reliable, especially the response rate of its 24/5 support service. Its team handled our issues professionally and left us satisfied to focus fully on our activities. Plus, we like its forex trading features, whereby we traded over 84 currency pairs with spreads starting from 0.7 points on major currency pairs. And if you prefer trading forex on advanced platforms, City Index hosts the MT4 and TradingView platforms for you.
Besides forex, City Index is home to an additional 13,500 CFD and spread betting instruments. You can explore these securities to identify options best for your portfolio diversification. For beginners, there are adequate learning materials, including guides, articles, courses, and more, for skills development. A £10,000 virtually funded demo account is also at your disposal to test City Index and gauge your skill level before making a commitment.
A user-friendly and intuitive design forex trading platform
Lists over 84 currency pairs and an additional 13,500+ assets for portfolio diversification
Quality learning and market analysis tools on its MT4 and TradingView platforms
Reliable and responsive support service via phone, email, and live chat
Cons
Its demo account is only valid for a period of 12 weeks after activation
No buying and taking ownership of the underlying asset
Type
Fee
Minimum deposit
£100
Overnight fee
+2.5% on long positions
Deposit fee
2%
Withdrawal fee
0$
Inactivity fee
$15
EUR/USD spreads from
0.5 pts
Trade major indices with spreads from
0.4 pt
Commission on shares
0.08%
Trade US Crude with spreads from
1.5 pts
Spot gold spreads from
0.5 pts
City Index has a wide selection of over 12,000 assets. You can trade CFDs on over 4500 shares, and over 65 global currency pairs.
5. Interactive Brokers - Best MAS Regulated Broker for Beginners
Interactive Brokers (IBRK) has been around for decades and continues to impress users with its superior features. While many users find its desktop platform challenging to navigate, we actually had an amazing experience. We were primarily impressed by its IBKR GlobalTrader app, which is user-friendly and has an excellent search function. Any beginner will have a blast trading with this app. Besides, there is a Free Trial account funded with virtual money to test its performance before committing.
We like the fact that IBKR has no minimum deposit requirement, thus making it easier for newbies to get started with any amounts they can afford. Although its trading charges are a bit higher compared to those of its peers, expect no transactions or inactivity fees. Other platforms with quality learning and research materials at this MAS-regulated UK broker include IBKR Desktop, IBKR Mobile, and Trader Workstation.
1
Interactive Brokers Review
TradingGuides Rating:
✔ One of the oldest broker
✔ Top trading platform for advanced
Vast selection of learning and market analysis tools
A user-friendly and customisable IBKR GlobalTrader app for beginners
Has a Free Trial account for gauging your skill level risk-free
Cons
Many advanced tools and sophisticated graphs on its desktop platform can feel daunting to beginners
High trading fees
Type
Fee
Minimum Deposit
$10
Deposit Fee
Free
Withdrawal Fee
Free
Inactivity Fee
$0
Interactive Brokers’ clients can trade stocks, options, futures, forex, cryptocurrencies, bonds, and funds in 150 markets.
What is MAS?
The Monetary Authority of Singapore (MAS) is the leading financial regulator in Singapore. Its responsibility is to oversee the activity of brokerage firms and other financial institutions to ensure the integrity of the region is maintained. The main goal is to keep online trading and investing safe from imposters and money laundering activities. This way, traders and investors can securely and transparently explore the financial market.
It is crucial to find out whether a broker is MAS-regulated to ensure you trade/invest under the best conditions. To do so, visit your broker’s official website and confirm the regulatory status at the bottom of its homepage. You can also do so by visiting MAS official website and typing the broker’s name.
How the MAS Protects You
As mentioned above, the Monetary Authority of Singapore (MAS) is Singapore’s financial regulator. It issues licences and oversees brokers’ and other financial institutions’ activities to ensure traders are protected. With a MAS-regulated broker, you will be treated fairly, thus giving you an exciting experience.
Being treated fairly means that you will enjoy favourable leverage limits of up to 1:20 for retail traders and 1:50 for professionals who have been accredited. With such limits, MAS ensures you do not expose yourself to too much risk, and the amount of loss you may incur in a leveraged position is reduced. This is unlike trading with higher leverage limits that may leave you with massive losses should a trade work out against you.
MAS also protects traders by ensuring all brokers it oversees store your funds in segregated tier-one bank accounts. These accounts differ from brokers’ accounts, and the brokers will not have access to them even in the event of bankruptcy. The funds are only accessible to you and you can get them back anytime you see fit.
Since the financial market is dominated by fraudsters, MAS takes additional measures to protect users and their personal details. Through account verification during registration processes, MAS-regulated brokers are able to keep away imposters and money laundering activities. Plus, the brokers are mandated to disclose trading risks of exploring CFD instruments on their home pages. This way, the brokers may not misrepresent what online trading entails just to attract more customers.
How to Choose the Best MAS Regulated Broker UK
There are very specific things that you have to check before you sign up for a broker. This is to ensure your own safety as well as the safe-keeping of your funds. It will also help you find a broker that you feel comfortable with, and that helps you perform at your very best.
Below, we’ve listed the most important factors when picking the best MAS-regulated broker in the UK.
As mentioned many times before, regulation is the most important factor when picking a new broker. As a UK-based trader, it is crucial that your broker is licensed and regulated by the Financial Conduct Authority (FCA). In addition, since you found this guide, you want to check if the said broker has a licence from the Monetary Authority of Singapore (MAS), even though that licence carries no weight in the UK.
A MAS-regulated broker’s trading platform is your gateway to the market. Therefore, choose an option with a user-friendly interface to streamline your trading experience. Also, look for brokers that cater to your skill level, offering essential trading tools, insightful research materials, and demo accounts to assist in refining your strategies. Some brokers also host multiple trading accounts. Based on your skill level, settle with one that suits your trading requirements.
The best MAS-regulated UK broker should host the assets you prefer exploring. Do not assume availability, as you may end up disappointed. A broker with a wide selection of instruments is worth committing to. It makes it easier to explore new markets and identify the best options for your portfolio diversification. Most importantly, confirm whether it supports buying and taking ownership of an underlying asset or derivatives trading. Availability and support must suit your preference.
Always confirm the trading and non-trading costs when considering a UK MAS-regulated broker. You see, trading and investing can be addictive, and having a budget will give you the best cash management strategy. You do not want to overspend and risk losing more than you are comfortable with. Some of the fees to confirm include commissions, spreads, deposits and withdrawals, inactivity fees, financing costs, currency conversion fees, and more. It is also essential to choose a broker with a favourable minimum deposit requirement, as they vary from broker to broker.
Having efficient and fast transactions enables traders to quickly access the markets and take advantage of available opportunities. With the best MAS-regulated brokers like the ones we recommend above, you are guaranteed efficient transactions via multiple methods. These include credit/debit cards, e-wallets, or bank transfers. You simply need to identify a broker with a convenient option for you.
Before committing to a broker, contact its support service team and gauge their response rate. How they handle your issues also matters since you will understand what to expect once you commit. Besides being reliable and responsive, the best support should be accessible during your trading hours. This is whether it is 24/7 or five days a week. Plus, it should be reachable via convenient channels, including live chat, email, and phone.
It is crucial to consider the above elements when choosing the best MAS-regulated broker in the UK. However, analysing user comments and ratings on the broker also matters. Through their reviews and ratings, you will understand the broker’s strengths and weaknesses from a user perspective. You will then decide on whether it’s worth committing to. For honest opinions, visit Google Play, the App Store, and Trustpilot.
How to Register an Account with a MAS-Regulated Broker
Registering an account with a MAS-regulated broker is easy. From our experience, the procedures involved are straightforward and take minutes to complete. This is especially if you share accurate details as required.
Here is step-by-step guidance on how to sign up for a trading account with such brokers.
Start by visiting the official website of your preferred MAS-regulated broker. On this page, we share links to our recommendations for quick access. Do not rush to press the register button without understanding the broker’s terms of service. And if it has a trading app, ensure you install it on your iOS or Android mobile device. This way, you will continue trading or investing even as you step away from your desktop.
Depending on a broker, click the sign-up, register, or join now button to start creating your account. A form will be provided for you to fill out with your personal details. These include your name, email, phone number, date of birth, source of income, and more.
Some MAS-regulated brokers in the UK may also engage you in a questionnaire to gauge your skills and assign favourable leverage limits. Plus, you will be required to create a unique username and password for an added layer of safety to your account.
Once you complete step 2 above and click next, your broker will require some verification documents. It is a standard protocol required by all FCA-regulated brokers to keep the UK’s online trading and investing environment free from imposters and money laundering activities. For most brokers, you must share a copy of your identity card, passport, or driver’s licence for identity verification. Additional documents will also be required to verify your location. These include a recent utility bill or bank statement.
The verification process may take hours to days to complete. However, fret not, for your broker will send you an email notification once your account is fully activated. Upon receiving this notification, fund your account per the broker’s minimum deposit requirement. It is also crucial to ensure you engage in fast transactions by using convenient payment methods. These can be credit/debit cards, e-wallets, or bank transfers.
You will automatically be redirected to your broker’s listed securities once it confirms your deposit. Whether you want to purchase stocks or trade cryptos as CFDs, choose your preferred instrument and trade size. Then, open a position and keep tracking it to ensure everything works out as expected. Since the financial market can be unpredictable, we also advise you to apply risk management controls in your activities. This way, you will avoid incurring massive losses, as your positions will automatically close once they reach a specific level.
FAQs
How do I know if my MAS broker is regulated?
Being regulated is crucial for brokers since they’re not able to operate legally if they’re not. Therefore, brokers are proud and transparent with all their licenses, making it easy to find information about different regulators and licenses.
In most cases, all you have to do is visit the said broker’s website and scroll down to the bottom of the page to find a list of all regulators. As a UK-based trader, you have to ensure that the broker you pick is regulated by the Financial Conduct Authority (FCA) – a MAS license is only to be considered a bonus.
Which brokers are regulated by MAS?
There is a multitude of brokers regulated by the MAS that operate in the UK today. And since Singapore is a major, international financial hub, you can rest assured that they are all quality brokers.
However, not all brokers are created equal and in this guide, we have listed the best MAS-regulated brokers in the UK. That does not mean that our recommendations are complete, but rather that we only feature the best of the best.
Is eToro MAS regulated?
Unfortunately, one of the best online brokers in the world, eToro, is not regulated by the MAS. Subsequently, the broker is not available to traders based in Singapore.
Instead, eToro is regulated in the UK, the United States, the European Union, Australia, and several more jurisdictions.
If eToro is ever issued a Singaporean brokerage license, we will update this guide accordingly.
Are MAS regulated brokers safe?
Yes, MAS-regulated brokers can be considered safe. In fact, the Monetary Authority of Singapore (MAS) is one of the strictest financial regulators in the world, tasked with overseeing and regulating every financial institution in Singapore.
That means that MAS-regulated brokers live up to the same strict standards as banks in the country.
Just keep in mind that a MAS license does not have any value in the UK since the FCA is tasked with regulating brokers in The United Kingdom.
What is MAS regulation?
MAS is an abbreviation of the Monetary Authority of Singapore and it’s the main financial regulating body in Singapore. Their tasks include safe-keeping banks, financial institutions, and online brokers. They are also tasked with prioritizing customer and funds protection to ensure that trading is conducted in a fair and safe manner.
Conclusion
UK-based traders and investors can now explore the Singaporean financial markets, thanks to the availability of MAS-regulated brokers in the region. Do not only base your choice on a broker’s regulatory status but consider other elements we share above. And remember, having the best broker is not a sure-fire way to success. Having extensive market knowledge and developing solid strategies is crucial. Most importantly, remain disciplined, stick to your plans, and learn from your mistakes.
Moreover, other licenses should also be considered such as CFTC (the US), CySEC (the EU), and ASIC (Australia).
How we test?
Our test process is really based on two different aspects: our independent tests and research, as well as user reviews from Google Play, the App Store, and Trustpilot, etc.
The first thing we do when testing is to check every detail and test every tool and instrument. Our experts spend more than 200 hours on every article. We pay special attention to the specific function or the criteria that we’re comparing during the comparing stage. This means that we must determine which broker is more suited for beginners, and which is better suited for experts, for example.Find out more about our test process here.
Is a regular dad trying to be smart about how we play and win in this big game of life. He has worked within the very best of the financial industry producing numerous training resources. He is an experienced copywriter with immense financial background. Now earns a full time living as a Trader, and as our writer.
His articles help everyday families build sustainable wealth, stop stressing about their financial security, and start living the life they’ve always wanted.
If he is not trading or writing, he is at the gym.
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