Trading USD/SGD

The USD/SGD, a minor forex pair, is made up of the US dollar (USD) and the Singapore dollar (SGD), two of the world’s strongest and most stable currencies. The past decade has seen a period of productive collaboration between the countries, which has cultivated a promising investment opportunity.

Importantly, the FX pair offers an accessible route into the Pacific market, but while it may attract investors from all over the world, generating a profit is not easy. This guide will break down everything you need to know about trading USD/SGD. From exchange rates to forecasts, trends, and technical analysis, read on to find out what this currency pair has to offer. We also list the best USD/SGD brokers below.

USD/SGD Trading Brokers

Click a broker for details
  1. 1
    FOREX.com
    Active Trader Program With A 15% Reduction In Costs

    Ratings
    4.9 / 5
    4 / 5
    4.3 / 5
    4.6 / 5
    4.6 / 5
    4.3 / 5
    4.8 / 5
    4.5 / 5
    3.6 / 5
    3.8 / 5

    $100
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Futures, Futures Options
    MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
    Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN
  2. 2
    NinjaTrader

    Ratings
    4.3 / 5
    2.8 / 5
    2.9 / 5
    4.3 / 5
    4.5 / 5
    4 / 5
    4 / 5
    3.5 / 5
    3 / 5
    3.2 / 5

    $0
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Options, Commodities, Futures, Crypto
    NinjaTrader Desktop, Web & Mobile, eSignal
    ACH Transfer, Debit Card, Wire Transfer
    USD
  3. 3
    OANDA US
    CFDs are not available to residents in the United States.

    Ratings
    4.5 / 5
    3.5 / 5
    2.8 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.3 / 5
    3.8 / 5
    4.7 / 5
    3.7 / 5

    $0
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)
    OANDA Trade, MT4, TradingView, AutoChartist
    Wire Transfer, Visa, Mastercard, Debit Card, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD
  4. 4
    IG
    Forex trading involves risk. Losses can exceed deposits.

    Ratings
    4.9 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.8 / 5
    4.5 / 5
    4.9 / 5
    5 / 5
    4.6 / 5
    4 / 5

    $0
    0.01 Lots
    1:30 (Retail), 1:250 (Pro)
    FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
    Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
    PayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit Card
    USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD
  5. 5
    Interactive Brokers

    Ratings
    4.5 / 5
    3.5 / 5
    4.5 / 5
    4.3 / 5
    3.3 / 5
    3 / 5
    4.4 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5

    $0
    $100
    1:50
    FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
    Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
    Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
    Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card
    USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF
  6. 6
    Videforex
    20% to 200% Deposit Bonus

    $250
    $0.01
    1:500
    Binary Options, CFDs, Forex, Indices, Commodities, Crypto
    TradingView
    Skrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum Payments
    USD, EUR, GBP, AUD, RUB
  7. 7
    ForexChief
    $100 No Deposit Bonus

    $10
    0.01 Lots
    1:1000
    VFSC
    CFDs, Forex, Metals, Commodities, Stocks, Indices
    MT4, MT5
    Wire Transfer, Bitcoin Payments, Credit Card, UnionPay, Skrill, Neteller, WebMoney, Perfect Money, Debit Card, Ethereum Payments, FasaPay, Volet
    USD, EUR, GBP, JPY, CHF
  8. 8
    RedMars

    Ratings
    2.8 / 5
    3.3 / 5
    2.5 / 5
    2.8 / 5
    2 / 5
    1 / 5
    0.5 / 5
    0.5 / 5
    4.7 / 5
    4.6 / 5

    €250
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    CySEC
    CFDs, Forex, Stocks, Indices, Commodities, Cryptos
    MT5
    Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, Visa
    USD, EUR
  9. 9
    DNA Markets

    Ratings
    3 / 5
    4 / 5
    4 / 5
    3.9 / 5
    3.5 / 5
    3.6 / 5
    1.8 / 5
    1.6 / 5
    4.8 / 5
    4.4 / 5

    $100
    0.01 Lots
    1:500
    ASIC
    CFDs, Forex, Indices, Commodities, Stocks, Crypto
    MT4, MT5
    Credit Card, Debit Card, Wire Transfer, BPAY, Skrill, Neteller, Bitcoin Payments, Bitwallet, AstroPay, Mastercard
    USD, EUR, GBP, CAD, AUD, NZD, SGD
  10. 10
    Coinexx
    100% Deposit Welcome Bonus

    0.001 BTC
    0.01 Lots
    1:500
    Forex, Commodities, Indices, Cryptocurrencies
    MT4, MT5
    Bitcoin Payments, Ethereum Payments
    USD

This is why we think these brokers are the best in this category:

  1. FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.
  2. NinjaTrader - NinjaTraders supports the trading of popular currencies including the EUR/USD. The software also offers advanced features to streamline the trading experience, including complex order types like market if touched (MIT) and one cancels other (OCO).
  3. OANDA US - OANDA offers a diverse selection of 68 currency pairs, more than many alternatives. The broker’s in-house platform offers superb day trading capabilities via powerful TradingView charts, including 65+ technical indicators and 11 customizable chart types.
  4. IG - IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD.
  5. Interactive Brokers - IBKR presents an extensive range of over 100 major, minor, and exotic forex pairs, surpassing the offerings of nearly all leading alternatives, though not CMC Markets. Forex trading occurs over multiple platforms and boasts institutional-grade spreads starting from 0.1 pips and 20 complex order types, including brackets, scale, and one-cancels-all (OCA) orders.
  6. Videforex - Trade 35 major, minor and exotic forex pairs through CFDs with floating spreads from 0.1 pips. Alternatively, binary options allow you to speculate on rising and falling prices with a fixed stake and payout.
  7. ForexChief - ForexChief supports spot foreign exchange trading on all account types for 40+ major, minor and exotic currency pairs. Trading takes place on the leading MT4 and MT5 platforms, which offer dozens of in-built technical tools for short-term forex strategies.
  8. RedMars - RedMars strongest investment category is forex with more than 50 currency pairs, from majors to minors and exotics. Spreads start from 0.0 pips, catering to active currency traders, and leverage can reach 1:500. However, there are no forex heatmaps or research tools to support aspiring forex traders.
  9. DNA Markets - DNA Markets continues to deliver an excellent environment for forex traders with 50+ currency pairs and low spreads from 0.0 pips on the EUR/USD during tests. The MetaTrader 4 platform, available on desktop, web and mobile, was also designed specifically for forex trading.
  10. Coinexx - Trade 70 major, minor and exotic forex pairs with ultra-low ECN spreads and fast execution via the MT4 or MT5 platforms. There are also zero SL/TP limits and automated forex trading is well catered for.

Trading USD/SGD Comparison

Trading USD/SGD Comparison
Broker Forex Assets EUR/USD Spread Forex App Rating Minimum Deposit Regulator
FOREX.com logo 80+ 1.2 4.9 / 5 $100 NFA, CFTC
NinjaTrader logo 50+ 1.3 3.5 / 5 $0 NFA, CFTC
OANDA US logo 65+ 1.6 4 / 5 $0 NFA, CFTC
IG logo 80+ 0.8 4.9 / 5 $0 FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA
Interactive Brokers logo 100+ 0.08-0.20 bps x trade value 4.3 / 5 $0 FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
Videforex logo 35 Floating from 0.1 pips 2.5 / 5 $250 -
ForexChief logo 40 0.4 - $10 VFSC
RedMars logo 50+ 0.7 - €250 CySEC
DNA Markets logo 50+ 1.0 4.3 / 5 $100 ASIC
Coinexx logo 60+ From 0.0 pips - 0.001 BTC -

FOREX.com

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

Christian Harris, Reviewer

FOREX.com Quick Facts

Bonus OfferActive Trader Program With A 15% Reduction In Costs
GBPUSD Spread1.3
EURUSD Spread1.2
EURGBP Spread1.4
Total Assets80+
Leverage1:50
PlatformsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

  • With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
  • The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
  • FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.

Cons

  • Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
  • FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.

NinjaTrader

"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."

Tobias Robinson, Reviewer

NinjaTrader Quick Facts

GBPUSD Spread1.6
EURUSD Spread1.3
EURGBP Spread1.6
Total Assets50+
Leverage1:50
PlatformsNinjaTrader Desktop, Web & Mobile, eSignal
Account CurrenciesUSD

Pros

  • Traders can get free platform access and trade simulation capabilities in the unlimited demo
  • NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
  • NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC

Cons

  • The premium platform tools come with an extra charge
  • Non forex and futures trading requires signing up with partner brokers
  • There is a withdrawal fee on some funding methods

OANDA US

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

Rebecca Holden, Reviewer

OANDA US Quick Facts

GBPUSD Spread3.4
EURUSD Spread1.6
EURGBP Spread1.7
Total Assets65+
Leverage1:50
PlatformsOANDA Trade, MT4, TradingView, AutoChartist
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD

Pros

  • Day traders can enjoy fast and reliable order execution
  • Beginners can get started easily with $0 minimum initial deposit
  • The broker's API facilitates access to 25 years of deep historical data and rates from 200+ currencies

Cons

  • There's only a small range of payment methods available, with no e-wallets supported
  • The range of day trading markets is limited to forex and cryptos only
  • It's a shame that customer support is not available on weekends

IG

"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."

Christian Harris, Reviewer

IG Quick Facts

GBPUSD Spread0.9
EURUSD Spread0.8
EURGBP Spread0.9
Total Assets80+
Leverage1:30 (Retail), 1:250 (Pro)
PlatformsWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Pros

  • IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis
  • As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
  • The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading

Cons

  • While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
  • IG has discontinued its swap-free account, reducing its appeal to Islamic traders
  • IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors

Interactive Brokers

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

Christian Harris, Reviewer

Interactive Brokers Quick Facts

GBPUSD Spread0.08-0.20 bps x trade value
EURUSD Spread0.08-0.20 bps x trade value
EURGBP Spread0.08-0.20 bps x trade value
Total Assets100+
Leverage1:50
PlatformsTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Account CurrenciesUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Pros

  • The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
  • IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
  • IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries.

Cons

  • IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
  • Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
  • TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.

Videforex

"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."

William Berg, Reviewer

Videforex Quick Facts

Bonus Offer20% to 200% Deposit Bonus
GBPUSD SpreadFloating from 0.1 pips
EURUSD SpreadFloating from 0.1 pips
EURGBP SpreadFloating from 0.1 pips
Total Assets35
Leverage1:500
PlatformsTradingView
Account CurrenciesUSD, EUR, GBP, AUD, RUB

Pros

  • Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, which is in line with competing brands like IQCent
  • The support times are fast and reliable based on tests - few brokers offer 24/7 multi-lingual video support
  • Videforex allows you to enter positions with just ¢0.01

Cons

  • The broker isn’t overseen by a trusted regulatory agency
  • US clients aren’t accepted due to legal restrictions
  • No MetaTrader 4 integration

ForexChief

"xChief continues to prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The broker's rebate scheme and investment accounts will particularly appeal to seasoned traders. However, the lack of top-tier regulatory oversight is a major drawback."

William Berg, Reviewer

ForexChief Quick Facts

Bonus Offer$100 No Deposit Bonus
GBPUSD Spread0.9
EURUSD Spread0.4
EURGBP Spread0.9
Total Assets40
Leverage1:1000
PlatformsMT4, MT5
Account CurrenciesUSD, EUR, GBP, JPY, CHF

Pros

  • xChief offers STP/ECN execution with low spreads from 0.0 pips and low commission rates starting from $2.50 per side
  • Traders can access a copy trading solution via the MetaQuotes Signals service
  • The low minimum deposit of $10 will appeal to beginners, as well as the beginners’ guides in the Library

Cons

  • The broker trails competitors when it comes to research tools and educational resources
  • xChief is an offshore broker with weak regulatory oversight from the VFSC, so traders will receive limited safeguards
  • Fees and minimums are imposed on most withdrawal methods, including a €60 minimum for SWIFT bank transfers

RedMars

"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."

Christian Harris, Reviewer

RedMars Quick Facts

GBPUSD Spread0.7
EURUSD Spread0.7
EURGBP Spread1.1
Total Assets50+
Leverage1:30 (Retail), 1:500 (Pro)
PlatformsMT5
Account CurrenciesUSD, EUR

Pros

  • Clients in the EU, in particular, can trade with peace of mind knowing RedMars is authorized by the CySEC with up to €20K compensation available through the ICF in the event of bankruptcy
  • The broker is one of a limited number of firms to offer an account specially designed for VIPs with premium support and invites to exclusive events
  • Getting started on RedMars is incredibly easy - you can be up and running in just a few minutes based on tests

Cons

  • With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
  • RedMars falls short for newer traders, with little in the way of education, no beginner-friendly platform, a steep minimum deposit, and inadequate support during testing
  • The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.

DNA Markets

"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "

Jemma Grist, Reviewer

DNA Markets Quick Facts

GBPUSD Spread1.0
EURUSD Spread1.0
EURGBP Spread1.0
Total Assets50+
Leverage1:500
PlatformsMT4, MT5
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SGD

Pros

  • Short-term trading strategies are permitted including scalping and automated trading using Expert Advisors (EAs)
  • The broker provides 24/5 customer support with response times of <2 minutes during testing
  • Convenient account funding is available with 7 base currencies, a $100 deposit and a wide range of payment methods

Cons

  • Despite access to MT4 and MT5, there is no proprietary trading app for seamless account management whilst on the go
  • Unlike many alternatives, there are limited educational and research tools for traders seeking an all-in-one solution
  • Although it continues to strengthen its client base and reputation, DNA Markets lacks the track record of top brokers like Vantage

Coinexx

"Traders seeking highly leveraged CFDs with a broker that uses crypto as a base account currency will find a good match in Coinexx. The ECN model also offer tight spreads from 0 pips. On the downside, traders should note the weak regulatory oversight."

Tobias Robinson, Reviewer

Coinexx Quick Facts

Bonus Offer100% Deposit Welcome Bonus
GBPUSD SpreadFrom 0.0 pips
EURUSD SpreadFrom 0.0 pips
EURGBP SpreadFrom 0.0 pips
Total Assets60+
Leverage1:500
PlatformsMT4, MT5
Account CurrenciesUSD

Pros

  • MetaTrader 4 and MetaTrader 5 integration
  • Free VPS for active traders
  • Full range of investments including cryptos

Cons

  • Limited educational materials for new traders
  • No copy trading service for aspiring investors
  • No regulatory oversight reduces safety

Live Chart

USD/SGD Economies

The United States is the wealthiest country in the world and it has one of the highest per capita incomes of $66,000. 80% of its GDP comes from services, 19.1% from industry, and only 0.9% from agriculture.

The USD is used as a reserve currency, and drops or rises in its price affect many other currencies. Political and financial US events also impact the global forex market.

Historically, the Singapore dollar has served as an investment haven for traders. This is due to Singapore’s high interest and growth rates, loose controls, and less developed labor markets. The combination of these makes for an appealing investment option.

Furthermore, Singapore has seen significant economic growth after the Covid-19 pandemic. It now stands as one of the wealthiest economies in the Asia-Pacific region and rivals even the largest of the Western states, such as the UK and France.

The strength of Singapore’s position is in part due to its geography. It lies at the heart of several major international shipping routes, perfectly positioning it to be one of the world’s biggest international trading hubs. The country operates a free-market economy that heavily relies on international trade. The high dependency on trade means that fluctuations in foreign exchange markets can have significant implications on the value of the SGD.

Why Trade USD/SGD

Risks Of Trading USD/SGD

While there are benefits of live trading USD/SGD, there are also drawbacks:

Influences On USD/SGD Price

USD/SGD Currency Correlations

No single currency moves independently of others. Currency pairs are all intrinsically linked. As a result, changes in any single one can have implications for others. For example, a move in the Euro would affect the price of USD, which in turn affects the price of SGD.

Currency pairs either have a positive correlation or a negative correlation:

Application

You can use the relationships between pairs to your advantage. For example, when trading the GBP/USD, keep an eye on the Euro/US Dollar, which can inform investment options. Although additional factors affect movements, such as economic policy and political events like the war in Ukraine, it is worth understanding the relationships between currency pairs.

USD/SGD Trading Strategy

An effective day trading or futures USD/SGD strategy should be more than just knowing how to use pip values to your advantage. Different strategies will work to facilitate a variety of aims in a multitude of environments. So, traders should always consider their objectives. Whether you prefer to use swap or forward rates or rely heavily on daily, 5, 10, or even 30-year charts, there are some basics that provide a good starting point.

Timing

Unlike some stock markets, forex trading usually operates between normal business hours. Although there is no ‘best time’ to trade, there are certain windows that tend to be more favorable.

Importantly, the optimum time to trade forex is when the market is most active. During these periods, trading spreads (mid rates) tend to narrow. This means less money goes to the market makers, and more money goes directly to traders. When two markets are open at the same time, market volume increases dramatically, as does volatility. Both of which can translate to greater returns for investors.

Between 17:00 GMT and 18:00 GMT is when most trading happens on the Singapore and Sydney exchanges. As a result, it is the prime time to trade USD/SGD.

Risk Management

A tight risk management strategy should form the foundation of any type of USD/SGD investing. The 1% rule is a popular risk management strategy that lends itself to most objectives. The rule dictates that a trader should never use more than 1% of their portfolio on any given position. In doing so, investors minimize losses and increase the opportunity for long-term USD/SGD trading.

Establishing stop/loss limits is another risk management technique that can prove beneficial.

USD/SGD Price History

The SGD was adopted as the official currency of Singapore in 1967. Initially, it was exchanged at par with the Malaysian Ringgit, but in 1973 it was pegged to the GBP, followed by the USD for a short time. Today, it is pegged to a trade-weighted basket of currencies.

The SGD is regulated by the country’s central bank, the Monetary Authority of Singapore (MAS), which was established in 1971. The USD/SGD has seen a relatively stable history, but as with any forex pair, spot buying and selling rates are heavily influenced by political and economic factors.

Recent events such as the Covid-19 pandemic, high oil prices, and the Russia-Ukraine war have influenced the global forex market. The USD to SGD last 6 months charts have shown the US economy slowly strengthening against Singapore’s. A swift recovery from the pandemic was a major contributing factor. However, inflation rates of 8.3%, the highest they’ve been since the 1980s, have scared investors, many of which believe a recession could be possible.

As for records, the USD/SGD hit an all-time high of 1.81 in May 2002 and an all-time low of 1.19 in August 2011.

Note, a view of USD to SGD historical conversions (e.g., yesterday, the last 6 months, or even 20-years) is available at online FX brokers. Some even provide one-month forward forecasts and hedging cost details.

Final Word On Trading USD/SGD

Trading USD against SGD can provide plenty of opportunities to generate returns. The relative stability of the pair makes for an attractive proposition for both forex beginners and more experienced investors. While global events over recent months and years have made it increasingly difficult to forecast future trends, the outlook for the pair in 2024 looks promising. See our list of top brokers to start trading today.

FAQs

How Is USD/SGD Quoted?

The USD/SGD illustrates the number of Singapore dollars you can purchase for one US dollar. The conversion rate varies throughout the day. See a live chart for a real-time update.

What Is The USD And SGD Exchange Rate History?

There are multiple resources available online where traders can view historical price data, including at leading forex trading platforms. Having an understanding of how a currency pair has behaved previously can help investors forecast how it may move in the future.

How Can I Work Out The USD Into SGD Conversion?

There are many tools and resources available online that chart live rates. Most are free to use when you sign up for a forex trading account.

What Impacts The USD/SGD Exchange Rate?

The value of the USD/SGD is influenced by several factors, but primarily the strength of the respective economies. News announcements, interest rate changes, GDP data, and political events can all shift prices.

What Is The USD To SGD Selling Rate?

The selling rate or conversion rate is the number of SGD required to buy one USD. Most top forex brokers and currency converters offer competitive FX rates.

Is SGD Stronger Than USD?

At the time of writing, the USD has been gaining momentum against the SGD. For the latest accurate information, consult a live USD/SGD chart.