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Futures Brokerages in Singapore

There are many forex brokerage in Singapore. However, when it comes to futures brokerage, there are not so many around. The following is a review of the best futures brokers in Singapore.

Phillips Futures Brokerage (www.phillipfutures.com.sg)

Phillips Futures is one of the oldest futures broker in Singapore and is very accessible across various parts of Singapore.

If you already have a stocks trading account with Phillips or a POEMS account, you can link your POEMS account to the futures trading platform. One advantage of linking is that you can transfer funds from the stock trading account to the futures account or from the futures account back to the stock trading account, minimizing lots of paperwork such as cheque writing.

You can go down to the nearest investor center and fill in the  Customer Trading Account Application and Agreement forms. The various investor centers are at the following locations:

Opens on Mon – Fri: 9.00am to 6.00pm only

250 North Bridge Road, #06-00, Raffles City Tower, Singapore 179101  (Very near to City Hall MRT)
Tel: 6531 1585
Email: rc@phillip.com.sg

30 Robinson Road, #01-03 Robinson Towers, Singapore 048546 (Near to Raffles Place MRT)
Tel: 6535 0606
Email: raffles@phillip.com.sg

Also opens on Sat: 9.00am to 1.00pm

3 Shan Road, Singapore 328104 (Near to Balastier, can be difficult to find)
Tel: 6506 0888
Email:  novena@phillip.com.sg

Blk 80, #01-782, Marine Parade Central, Singapore 440080
Tel: 62477555
Email: marineparade@phillip.com.sg

Blk 177, #01-132, Toa Payoh Central, Singapore 310177 (Near to Toa Payoh MRT)
Tel: 63582555
Email: tpy@phillip.com.sg

Blk 636, #01-10, Bukit Batok Central, Singapore 650636 (Near to Bukit Batok MRT)
Tel: 68964555
Email: bkbatok@phillip.com.sg

Blk 102 #01-264, Towner Road, Singapore 322102 (Near to Boon Keng MRT)
Tel: 6299 0555
Email: boonkeng@phillip.com.sg

Blk 306  #01-41, Woodlands St. 31, Singapore 730306
Tel: 6364 8555
Email: marsiling@phillip.com.sg

Blk 710A, Ang Mo Kio Ave 8, #01-2629 Singapore 561710 (Opposite Ang Mo Kio MRT Station)
Tel: 6459 2911
Email: amk@phillip.com.sg

If you do not have a trading account with Phillips, you can open a Futures trading account with Phillips Capital at the various investor centers above.

The Phillips Futures platform is text-based and pretty fast for a broadband connection. Once the buy or sell orders for various futures contracts has been completed, a sms is sent to your registered mobile phone. This is good for people who wants to be informed of their fulfilled pending orders, without constant accessing the Internet.

OptionsXpress Brokerage (www.optionsxpress.com.sg)

Do not be fooled by the name. OptionXpress is a futures broker that allows futures, stocks and options to be traded. It has a modern user-interface that makes it extremely user-friendly. Opened in 2006 in Singapore, it is located at

3 Pickering Street, #02-51 Nankin Row,China Square Central
Singapore 048660

To open an account, there is an online application form that you filled up online. At the end of the application, you will print out, sign the summarized application form and send back to OptionExpress.

Saxo Capital Markets Brokerage (sg.saxomarkets.com)

Offers a free 20-day trial for anyone who would like to test out their trading platform. There is an online and offline software, making it very flexible for people who want to trade at home or in the office. With the large icons emphasizing the important trading functions, you can get up to speed with the trading software.

Located at:

Saxo Capital Markets, 3 Church Street, #30-00, Samsung Hub
Singapore 049483
Tel: 6303 7800
Email: contractsadmin@saxomarkets.com.sg

It opens on Mon – Fri: 8.30am to 5.30pm only.  On the account opening page, there is a pdf application form which you will need to print out and filled in manually. The completed form can be scanned and return via email or fax or sent in via mail.

Funding the Futures Brokerage Account

In terms of funding the account, Phillips Futures allows DBS iBanking Electronic Payment for Shares (EPS) to fund the poems account and the funds need not be converted to US dollars until the position is closed.

OptionsXpress only allow telegraphic transfer in US dollars to fund the OptionsXpress futures account. There might be a concern here as US dollars have been weakening recently and the bank that is used for telegraphic transfer might not be offering the best rate for Singapore dollars (SGD) to US dollars conversion.

All these are the best futures brokerages in Singapore.

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