Brokersview December 2024 Assessment: Big changes in Singapore's Top 10 Brokers

In the December 2024 BrokersView assessment, Decode Global emerged as the top performer among 26 brokers, excelling in key trading factors such as execution price and spreads. FP Markets and GO Markets secured second and third places, each demonstrating notable strengths in specific categories.

1. Decode Global

Decode Global claimed the number one spot thanks to its strong performance in execution price and spreads.

Execution Price: Decode Global delivered excellent execution prices, ranking first. The average slippage on EURUSD, GBPUSD, and XAUUSD was 1, 0, and 1.2 points, respectively, showcasing its ability to provide tight execution.

Spreads: With an average spread of 10.9 points for EURUSD, 11.8 points for GBPUSD, and 16.5 points for XAUUSD, Decode Global ranked second in this category, outperforming 92% of brokers.

However, its performance in trading speed, stability, liquidity, and swap rates was less impressive.

2. FP Markets

FP Markets secured the second spot, excelling in four categories: trading speed, liquidity, execution price, and spreads.

Liquidity: Ranked second in liquidity, FP Markets’ average quoting frequency was 89 times per minute for EURUSD, 138 times for GBPUSD, and 205 times for XAUUSD, surpassing 92% of brokers.

Execution Price: The execution price on EURUSD, GBPUSD, and XAUUSD was 0, -0.2, and 0 points, placing FP Markets fourth in this category.

Trading Speed: Its average trading speed of 370ms ranked ninth, while the fastest transaction speed was also 370ms.

Spreads: The average spreads for EURUSD, GBPUSD, and XAUUSD were 11.5, 13.6, and 20.1 points, respectively, ranking eighth and outperforming 69% of brokers.

Despite its strong performance in several areas, its stability and swap rates were not as competitive.

3. GO Markets

GO Markets secured third place with strong performances in trading speed, liquidity, execution price, and swap rates.

Trading Speed: GO Markets achieved an average trading speed of 327ms and the fastest transaction speed of 316ms, ranking sixth.

Liquidity: Its liquidity ranked sixth, with an average quoting frequency of 97 times per minute for EURUSD, 141 times for GBPUSD, and 140 times for XAUUSD, outperforming 76% of brokers.

Execution Price: The execution price on EURUSD, GBPUSD, and XAUUSD was 0, -0.5, and -5.6 points, ranking eighth.

Swap Rates: Its swap rates for EURUSD, GBPUSD, and XAUUSD were -2.77, -3.48, and -15.9 USD/lot, respectively, ranking eighth.

While GO Markets performed well in several key areas, its performance in stability and spreads was lacking.

The brokers ranked 4 to 10 are ThinkMarkets, MHMarkets, EC Markets, Swissquote, FxPro, Tickmill and EBC Financial Group.

Among these, AUS Global was recognized for the best trading speed, FXTM for the best trading stability, FxPro for the best trading liquidity, Decode Global for the best price execution, Pepperstone for the best spread, and Doo Prime for the best swap rates.

Conclusion

These assessment results offer valuable insights for investors, particularly in Singapore, when choosing a forex broker. Investors should consider their specific trading needs and priorities to form a long-term partnership with a broker that aligns with their strategy.For more detailed evaluation data, please refer to the BV assessment column.