See our list of the best ones below. Singapore is a haven for Forex traders as its regulation focuses on safeguarding the interest of the trader. All textual content on ForexBrokerz. Even more, it had no natural resources besides its deep harbor and the people. This is the best way to make sure that our recommended brokers are the best for you.
The Securities and Futures Act (SFA) covers financial market operators including brokers for leveraged forex trading in Singapore. It ensures the proper functioning of the market. For individuals, the immediate concern is the protection of own trading and investing capital.
Regulation of Singapore Forex brokers
These started when most retail brokers started offering their services to the average Joe around the world.
However, the risk of losing big is greater on this account and your initial deposit should be at least 10k or better 25k so that you could trade with comfort and ease. If you have any specific needs you may discuss them with your broker and you can be offered VIP or some other kind of account that would fit your needs, capital size and trading style best.
Customer service is the mirror of the character of the broker. If it is not properly functioning in a quick and efficient manner, you will not want to stay with such broker for too long.
Living in Singapore you should also expect customer service in your local language or dialect. Lots of foreign scammy companies can come without being able to offer you that and that would be a red flag not to trade with them.
Brokers compete with each other to win as many customers as they can by offering lots of extra services. It may include free webinars, daily and weekly analysis of various financial instruments, instant news feed from most popular financial news services Reuters, Bloomberg and etc.
Those are really helpful, especially if you are a novice to Forex. As you may see a Singapore trader has a lot to pick from in terms of choosing a reliable Forex broker. We have set expectations which you need to have about your broker in order to trade with piece of mind and concentrate on your trading strategy.
If you need, go through the mentioned points in the article before opening a real account with a specific broker. When you feel confident that you have found the one, then move on and do open an account. See our list of the best ones below. Best Forex Brokers in Singapore This page may not include all available products, all companies or all services. How to Choose a Forex Broker as a Singapore trader High tech hub country of Singapore is one of the richest in Asia Pacific area with a thriving economy, top salaries in the world, big investments from foreign countries and according to statistics it has the largest volumes of transactions in Forex after London and New York.
Account Types A strong and reliable broker will offer you a lot of different types of accounts to choose from. Demo account Before you start trading you need to do some testing.
Micro account Investing in currencies does not mean you need to have millions or hundreds of thousands of dollars to start with. Mini account Mini account is a predecessor of micro account. Customer Service Customer service is the mirror of the character of the broker. Your capital is at risk. ABOUT US FX Empire - the company, employees, subsidiaries, and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as link result of reliance on the information provided on this website.
The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. FX Empire may receive compensation from the companies featured on the network. However, US brokerages still provide more trading options than those from the Asian nation. It is unlike Singapore where one agency, MAS, regulates all the financial functions of the government. While it seems to work well in Singapore, it makes one question if there could have been better regulation had the roles been severed to a specific authority.
FX brokers that use MetaTrader4 have to find alternatives with which to explore the Singapore market. It is essential to point out that Singapore, in spite of its political stability, has been criticized as an authoritarian nation. Some have termed the Forex industry as a cartel-managed sector. While there is little empirical evidence to substantiate some of these allegations, a broker should conduct diligent research on the dynamic of the market before jumping in.
It is the most popular Singapore-based Forex trading company in the world. It is regulated by the regulatory organizations in the respective countries. A London-based Forex broker with offices in the Southeast Asia city-state.
It has been on the market since and has become one of the favorite brokers in the country. Plus is popular in Asia, Australia, and Europe, though under different names. The company is a broker in multi-asset as well as social trading. It has other offices in the UK, Cyprus, and Israel. It is the most popular brokerage among traders who are interested in no dealing desk brokers.
The Chinese Yuan is one of the numerous currencies that this company offers its Singapore traders. Singapore is a haven for Forex traders as its regulation focuses on safeguarding the interest of the trader. Legitimate brokers can thrive in the city-state because MAS protects them from the unfair competition that is common in unregulated markets. However, not all brokers operating in the country are legit.
A trader has to confirm the registration status of the company with MAS; you can quickly find more information about Singapore FX trading market on topbrokers.
Forex Brokers in Singapore. Number of CFD assets. Number of currency pairs. Entry to stock exchanges. Trading with expert advisers. Speed of order execution. Maximum number of trades. Fixed spreads by all accounts. Floating spreads by all accounts. Add brokers for comparison. Was the information useful for you? If you like this discussion on TopBrokers. They remain at the higher level only for a couple of minutes.
When the market returns to normalcy after absorbing the new information, the spreads come back to the original levels. Reliable brokers often offer different accounts options to cater to the needs of different customers. They are as follows:. If you are new to trading, you need to practice and do some testing. A demo account helps you to do that. It also helps you to find out as to how your trading strategies will work when used in real market trading conditions.
You can do all these without risking your money. For trading currencies, you are not required to invest millions of dollars. This account option best suits beginners as they can test waters and the loss will not be much even if they make mistakes in the initial stages.
A mini account is the successor of micro account. Of course, it depends on the leverage that the broker offers as well. Many brokers also offer VIP accounts, depending on your investment capability and trading style. If the customer service department is not quick and efficient in dealing with your issues, it is better to look for another broker.
As a Singapore resident, you should look for brokers that can provide customer service in the local language. Many foreign companies some of them could be scammers may not be able to provide customer service in the local language. Be wary of such brokers. Brokers often compete with one other to win customers. They offer a lot of special services for this purpose.
TOP FOREX BROKERS
15 rows · Singapore Forex Brokers The average forex turnover volume in Singapore is ranges . Read up-to-date reviews of Singapore Forex Brokers at DailyForex. Get useful and important information about the top regulated Forex brokers in Singapore. Asia: Singapore Below is a list of online forex brokers which are incorporated or registered in Singapore. Click on the links in the left column menu for forex brokers in other countries.