As cryptocurrency adoption continues to grow across industries and individual users, the demand for reliable crypto exchanges in Singapore has surged. With strict regulatory oversight from the Monetary Authority of Singapore (MAS), traders and investors need platforms that combine compliance, security, low fees, and ease of use. Whether you're a beginner or an experienced trader, choosing the right exchange can significantly impact your trading success.
This comprehensive guide explores the 7 best crypto exchanges in Singapore, evaluating them based on key factors such as transaction fees, supported cryptocurrencies, payment methods, security, user experience, and regulatory compliance. We’ll also include practical insights to help you make an informed decision tailored to your trading goals.
Key Factors When Choosing a Crypto Exchange in Singapore
Before diving into the list, it’s essential to understand what makes a crypto exchange ideal for Singaporean users:
- MAS Licensing & Compliance: A licensed exchange ensures legal protection and fund safety.
- SGD Support: Seamless deposits and withdrawals in Singapore Dollars improve convenience.
- Low Trading Fees: Competitive fee structures preserve your profits over time.
- Security Measures: Look for two-factor authentication (2FA), cold storage, and insurance funds.
- User-Friendly Interface: Especially important for beginners navigating their first trades.
- Supported Cryptocurrencies: More coins mean greater portfolio diversification.
- Customer Support: 24/7 assistance via live chat or email is crucial during technical issues.
Now, let’s explore the top platforms shaping the crypto landscape in Singapore.
1. BYDFi – Best for Futures and Copy Trading
BYDFi is a globally recognized cryptocurrency exchange serving over 500,000 users across 150+ countries, including Singapore. Launched in 2020, it has quickly risen as one of the most trusted platforms due to its advanced trading tools and full compliance with MAS regulations.
The platform supports 300+ cryptocurrencies, including major assets like BTC, ETH, XRP, DOGE, and SHIB. It also offers access to more than 400 trading pairs with a daily trading volume exceeding $23 billion, according to CoinMarketCap.
👉 Discover how BYDFi delivers powerful tools for active traders.
Key Features:
- Low Fees: 0.10% taker and 0.10% maker fees for spot trading; 0.02% maker and 0.06% taker fees for futures.
- High Leverage: Up to 125x leverage on perpetual contracts.
- Copy Trading: Beginners can mirror successful traders’ strategies automatically.
- Free Demo Account: Practice risk-free before using real funds.
- KYC Optional for Basic Use: Full verification increases withdrawal limits.
- Multi-Payment Support: Deposit via Visa, Apple Pay, Google Pay, or bank transfer in SGD and 60+ fiat currencies.
- Mobile App: Available on iOS and Android with a 4.2/5 rating on Google Play.
While BYDFi lacks staking or NFT marketplaces, its strengths in futures trading, low costs, and intuitive design make it a top pick for both novice and experienced traders.
2. Phemex – Best for Anonymous Futures Trading
Founded in 2019, Phemex has built a strong reputation among derivatives traders. With over 5 million users worldwide and operations in 200+ countries, it's particularly popular in Singapore for its privacy-focused model and high-performance trading engine.
Phemex supports 346+ digital assets and handles over $26 billion in average daily trading volume. It allows SGD deposits through bank transfers and credit cards, making it accessible for local users.
Why Traders Choose Phemex:
- Zero KYC Required: Ideal for users seeking anonymity.
- Ultra-Low Fees: 0.01% maker and 0.06% taker fees on futures; 0.10% on spot trades.
- Up to 100x Leverage: Competitive margin options for aggressive strategies.
- Strong Risk Protection: Fair price marking prevents unnecessary liquidations.
- Insurance Fund: Shields traders from auto-deleveraging events.
- Free Premium Tier: For $9.99/month, users enjoy zero trading fees and higher limits.
- Copy Trading & Paper Trading: Great for learning and testing strategies.
Despite lacking lending services and passive income features, Phemex excels in speed, cost-efficiency, and trader protection—making it ideal for those focused on derivatives.
3. Coinbase – Best for Beginners
One of the oldest and most reputable exchanges globally, Coinbase launched in 2012 and serves over 100 million verified users. It's widely regarded as the go-to platform for newcomers due to its clean interface and educational resources.
With 250+ supported cryptocurrencies and full MAS licensing, Coinbase offers a secure gateway into crypto for Singaporeans. While its spot fees are relatively high at 0.40%–0.60%, it compensates with exceptional usability.
Standout Features:
- User-Friendly Design: Perfect for first-time investors.
- Web3 Wallet Integration: Direct access to decentralized apps (dApps).
- NFT Marketplace: Buy, sell, and explore digital collectibles.
- Educational Content: Earn crypto by learning about blockchain technology.
- Price Alerts & Notifications: Stay updated on market movements.
Coinbase requires full KYC and isn't ideal for advanced traders due to limited leverage and tools—but its trustworthiness and simplicity make it unmatched for beginners.
👉 Learn how to start your crypto journey with confidence.
4. Kraken – Most Secure and Reliable Exchange
Established in 2011, Kraken is renowned for its robust security framework and transparency. Holding ISO 27001 certification, Kraken has never suffered a major hack—earning long-term trust from institutional and retail investors alike.
It supports 185+ cryptocurrencies and offers futures trading with up to 50x leverage. Though SGD isn’t directly supported for deposits, users can trade via international bank transfers or third-party payment processors.
Why Kraken Stands Out:
- Advanced Security: Two-factor authentication, session controls, SSL encryption.
- Proof of Reserves: Publicly verifiable asset backing.
- Tiered Fee Structure: Spot fees range from 0.16% (taker) down based on volume.
- Excellent Customer Support: 24/7 live chat, phone support, and chatbots.
- Educational Hub: Guides for new traders on market analysis and risk management.
Kraken’s interface may feel complex for absolute beginners, but its reliability and depth of features make it a favorite among serious investors.
5. Zipmex – Focused on Southeast Asia
Headquartered in Singapore, Zipmex launched in 2018 to serve the growing ASEAN crypto market. While not yet fully licensed by MAS, it remains compliant with local financial laws and supports SGD transactions seamlessly.
With around 100+ supported cryptos, Zipmex emphasizes passive income opportunities through products like ZipUp and ZipLock staking—offering yields up to 14% on ZMT tokens and 11% on stablecoins.
Key Benefits:
- SGD Deposits/Withdrawals: Low-cost transfers with minimal fees.
- Staking Programs: Attractive returns for long-term holders.
- Simple UI: Easy navigation for casual traders.
- Fixed Trading Fees: Flat 0.20% rate for all spot trades.
However, Zipmex lacks futures trading and advanced charting tools—making it better suited for savers than active traders.
6. Luno – Most Beginner-Friendly
Luno has been around since 2013 and operates in over 10 countries. Fully licensed by MAS, it's known for its simplicity and focus on education—ideal for those just starting out.
Though it supports only 8+ cryptocurrencies, including BTC, ETH, SOL, and USDC, Luno prioritizes ease of use over breadth of selection.
Notable Features:
- Free SGD Transfers: No deposit or withdrawal fees in local currency.
- Fixed 1% Fee: Transparent but higher than competitors.
- Luno Learn Program: Free courses to build crypto literacy.
- Secure Storage: Cold wallets and 2FA protection.
Best for buying and holding rather than frequent trading.
7. Coinhako – Simple Exchange for New Users
Founded in 2014 and based in Singapore, Coinhako focuses exclusively on the local market. It holds full licensing under the Payment Services Act and emphasizes ease of entry.
Supporting 50+ cryptocurrencies, Coinhako offers recurring buys, price alerts, and free SGD deposits/withdrawals—though its mobile app rating is low at 2.4/5 stars.
Pros:
- Fully compliant with MAS standards
- No fees on fiat or crypto deposits
- Simple registration process
Cons include high trading fees (up to 1%) and lack of advanced tools.
Frequently Asked Questions (FAQ)
Q: Are crypto exchanges legal in Singapore?
A: Yes, crypto exchanges are legal if licensed by the Monetary Authority of Singapore (MAS). Always verify a platform’s regulatory status before signing up.
Q: Which exchange has the lowest fees in Singapore?
A: Phemex and Kraken offer some of the lowest trading fees—especially for futures—with maker fees as low as 0.01%.
Q: Can I buy crypto with SGD?
A: Yes. Most top exchanges like BYDFi, Coinbase, Luno, and Zipmex support SGD deposits via bank transfer or card payments.
Q: Do I need to complete KYC?
A: Most platforms require KYC for withdrawals above certain limits. However, BYDFi and Phemex allow limited trading without verification.
Q: Which exchange is best for beginners?
A: Coinbase, Luno, and Coinhako offer intuitive interfaces and educational tools perfect for new users.
Q: Is leverage trading allowed in Singapore?
A: Yes—but only on approved platforms offering regulated derivatives. BYDFi and Phemex provide high leverage options up to 125x.
👉 Compare real-time trading features across top platforms today.
By aligning your priorities—whether they’re low fees, security, anonymity, or beginner support—you can find the perfect fit among these leading exchanges. Always conduct due diligence and consider starting with a demo account to test performance before committing capital.