Many traders in Singapore use mobile apps to trade. Many brokers operate in this country, each offering their own platform. Before making a choice, it is important to evaluate apps to find the one that perfectly suits your goals and strategy. TU analysts compared Top 5 mobile apps. You will be able to choose the Best Binary Trading App in Singapore for 2024, based on our assessments.
Pocket Option is an unregulated broker focused on cooperating with professional traders who do not need training or additional bonuses.
Binary is the right broker for those who appreciate a variety of financial instruments. Due to the low minimum deposit, the company is suitable for novice traders who do not want to risk large amounts of money.
VideForex is a broker for novice traders and professional market participants that allows you to make trades on your own or receive income through the trade copying service.
The IQ Option broker is for novice traders who are not yet ready to trade on Forex but would like to get their first trading skills.
QUOTEX is a non-regulated binary option broker, which offers a proprietary trading platform, does not charge additional commission and allows you to start trading with a minimum investment amount.
Best Binary Trading App in Singapore for 2024
| Pocket Option | Binary.com | VideForex | IqOption | QUOTEX | |
|---|---|---|---|---|---|
|
Trading platform |
MT5, Web, Mobile |
WebTrader, Mobile |
Proprietary platform, Mobile platforms |
IQ Option |
Mobile MT4, Web platform, Browser platform |
|
Min deposit |
$5 |
$5 |
$50 |
$10 |
$10 |
|
Trading instruments |
currency |
indexes, Forex, goods, stock, random index |
Commodities, Currencies, Options, Stocks, Crypto, currency pairs / CFD |
Options, stock, Forex, Crypto, Commodities, indexes, CFDs on ETFs |
currency pairs / CFD, indices, Cryptocurrencies, Commodities |
|
Signals |
No |
No |
Yes |
No |
No |
|
Analytical support |
No |
Yes |
Yes |
Yes |
No |
|
Training |
No |
Yes |
Yes |
Yes |
No |
|
Additional tools |
Yes |
Yes |
Yes |
Yes |
No |
1
Best Binary Apps in Singapore - Pocket Option
The Pocket Option broker is part of Gembell Limited holding, which was founded by a group of professionals seasoned in trading and investment activities. The company is mass-market requirements-based, therefore, it provides quality services to binary options trading in the OTC market access. The broker strives to make the trading process as simple, clear, and convenient as possible. For this reason, PO TRADE BROKER has developed a unique trading platform to ensure stable trading for traders and investors.
👍 Advantages of trading with Pocket Option for traders in Singapore:
•low threshold for entering the market; the first deposit starts at $5;
•social trading platform generates passive income.
👎 Disadvantages of Pocket Option for traders in Singapore:
•not licensed by any reputable regulator;
•to trade Forex through MetaTrader 5, you need to deposit at least $1,000;
•support service responds within 24-48 hours, which is also too slow.
2
Best Binary Apps in Singapore - Binary.com
Deriv (Binary.com) offers trading services with a focus on derivative products like binary options and CFDs. The company has a history that dates back to 1999 and is regulated by several entities including the Malta Financial Services Authority (MFSA).
The broker also offers competitive fees and a low minimum deposit, making it accessible to traders with varying budget sizes. Flexible trade duration varies from 1s to 365d.
Deriv Multipliers blend the potential gains of leveraged trading with the controlled risk associated with options. This trading type allows traders to increase their market exposure while managing risks with built-in features like stop-loss and take-profit orders. Multipliers provide a balance between high-risk trading and traditional instruments.
👍 Advantages of trading with Binary.com for traders in Singapore:
•extensive experience (the company has been operating for more than 20 years) and the availability of a regulator;
•the minimum amount for replenishing and opening a bid is $5 and $1, respectively.
👎 Disadvantages of Binary.com for traders in Singapore:
•online chat for support is not available on the company's website;
•no cent account;
•sometimes there are platform failures;
•there is no trust management accounts;
•sometimes there are delays in the withdrawal of funds;
•some clients have difficulties with the registration process;
•sometimes technical support takes a long time to respond.
3
Best Binary Apps in Singapore - VideForex
VideForex is an international broker that allows traders from all over the world to trade on the Forex market. The company provides clients with more than 100 instruments, ways to earn passive income, and three types of accounts that differ in various functions. VideForex indicates that its activities are regulated and the personal data of users is protected.
👍 Advantages of trading with VideForex for traders in Singapore:
•You have access to a demo account.
•Support is available 24/7.
•The broker offers several methods to deposit and withdraw funds.
•Customers of VideForex may trade independently, as well as copy trades of professional traders.
•Transactions can be made from the broker's web platform and through mobile apps.
•VideForex provides lightning-fast execution of withdrawal transactions, within 1 hour.
👎 Disadvantages of VideForex for traders in Singapore:
•The broker does not provide educational materials for its clients.
4
Best Binary Apps in Singapore - IqOption
The company was founded in 2013 and today is among the leaders in this genre thanks in large part to its proprietary platform. In 2017, the broker was awarded the highest award by the Communicator Awards.
👍 Advantages of trading with IqOption for traders in Singapore:
•convenience from a visual narrative, the platform is user-friendly for novice traders;
•one of the highest levels of remuneration in the segment of binary options.
👎 Disadvantages of IqOption for traders in Singapore:
•a limited number of timeframes in comparison with MT4, without the possibility of setting non-standard intervals;
•the online platform is heavy on your computer’s RAM;
•there is a shared offer, not all trading conditions are displayed on the website and in the personal account. You have to investigate them either through trial and error or with the help of support services;
•there is no possibility of adding additional indicators, no algorithmic trading is provided;
•delays in cash withdrawal.
5
Best Binary Apps in Singapore - QUOTEX
Quotex is a well-regarded binary options broker for trading currencies, commodities, cryptocurrencies, and indices. Investors can profit up to 90% on successful trades.
The proprietary web-based trading platform is user-friendly and tailored specifically for binary options trading. Additionally, Quotex's mobile app has gained significant popularity among users, with over 1 million downloads.
One of the advantages of trading with Quotex is the low minimum investment per trade, starting at just $1. The broker does not impose any trading commissions or fees for deposits and withdrawals, making it an affordable option for traders. The broker also offers 24/7 multilingual customer support and valuable features like trading signals, technical indicators, and risk-free trades.
👍 Advantages of trading with QUOTEX for traders in Singapore:
•Affordable minimum investment amount – USD 10;
•No trading fees and no deposit, withdrawal and account fees;
•Simple and user-friendly trading platform designed for binary option trading.
👎 Disadvantages of QUOTEX for traders in Singapore:
•Leveraged trading is not available;
•No license of an international regulator;
•There is no quality education and instruments for analysis on the website;
•You cannot withdraw the deposit bonus;
•Shares are not included in the available trading instruments.
Best Binary Trading App in Singapore 2024: Education for Investors
When choosing the app, it is important to consider educational tools offered by brokers. TU analysts prepared a comparison of educational programs.
Pocket Option - Education for Investors
Investment Education Online
Information
There is a "Training" section on the Pocket Option website, but it is not informative enough. Find more information in the "FAQs" sub-section of the "Help" section. There is practically no information about Forex trading.
The broker allows opening a demo account, which allows you to improve on your trading skills without financial risks.
Binary.com - Education for Investors
Investment Education Online
Information
The Binary website has an educational section where you can get the information you need to trade options, currency pairs, and futures contracts, as well as metals successfully.
To use in practice the knowledge that the trader received on the Binary website, the experts of the brokerage company recommend opening a demo account. Training on a free practice account will give novice traders the experience and skills to trade on a real account.
VideForex - Education for Investors
Investment Education Online
VideForex broker does not provide its clients with training materials or resources that may be useful for beginners and professionals.
To test their trading skills and new trading strategies, VideForex clients can use a free demo account, without the risk of financial losses because the money is virtual.
IqOption - Education for Investors
Investment Education Online
Information
You will find the basic trading training course in the form of separate video tutorials on the IQ Option website. Also, the emphasis is placed on information support, fundamental news, and analytics.
There is a demo account for gaining experience, confidence, familiarity with this broker’s platform.
QUOTEX - Education for Investors
Investment Education Online
QUOTEX is not involved in providing education in the area of digital option trading. Its website does not feature educational articles and video tutorials, which can help novice traders learn about the new type of activity. The FAQ section provides the overall idea about options.
The broker has demo accounts, where you can practice and test your knowledge without any financial risk.
Summary
In this review, you had an opportunity to learn about the features of 5 brokers, which traders in Singapore choose the most. However, now you need to choose the best of them. You can do it using the scores given by the Traders Union. Check out the score table that will help you choose the Best Binary Trading App in Singapore 2024.
| Pocket Option | Binary.com | VideForex | IqOption | QUOTEX | |
|---|---|---|---|---|---|
|
Overall score |
6.87 |
8.11 |
5.54 |
6.44 |
7.55 |
|
Execution of orders |
9.52 |
9.82 |
8.79 |
9.37 |
9.78 |
|
Investment instruments |
4.29 |
9.54 |
1.52 |
1.25 |
4.32 |
|
Withdrawal speed |
9.64 |
10 |
5.21 |
4.93 |
9.25 |
|
Customer Support work |
4.38 |
5.41 |
6.31 |
6.85 |
5.26 |
|
Variety of instruments |
6.01 |
5.12 |
8.76 |
10 |
8.21 |
|
Trading platform |
7.38 |
8.76 |
2.64 |
6.24 |
8.45 |
|
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FAQ
Is it possible to register with a broker using the mobile app?
Yes. Brokers provide an opportunity to open an account and pass verification directly in the mobile app.
If a broker has several platforms, does it mean it offers several apps?
No. If a broker has several trading platforms, there is either an option to switch between them in the app, or only one trading platform is available (usually the proprietary one).
Can a platform function less effectively in the app than in the web version?
The platforms of reliable brokers with good apps work as smoothly as the web version. Therefore, there are almost no instances when the app runs poorly and the web version runs well. That may happen only in case of technical failures, which also happen rarely if the app is good.
Are there versions of the apps for tablets?
In some cases, Forex brokers develop separate versions of apps for smartphones, tablets and even for TV sets.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.