The Monetary Authority of Singapore is responsible for the regulation of the Singaporean financial markets, including MAS Regulated Forex Brokers. In Singapore, if a broker is looking to set up a business then they need to be in possession of a Capital Markets Service License, as issued by the MAS.

After New York and London, Singapore comes in at third place for being one of the largest Forex centers globally, and the biggest in its region. It is no surprise that many of Singapore’s people are looking to trade Forex to make investments. There are other reasons too, such as a booming economy with a climate that’s excellent for business at present. If you’re looking to invest in Singapore, then read on to find out about MAS Regulated Forex brokers and what the best way to protect your investment is.

 What are MAS Regulated FX Brokers?

The Monetary Authority of Singapore (MAS) is the central bank of Singapore and the most exclusively active financial regulatory agency in Singapore. The MAS also deals with the financial industry in Singapore, in order to transform the country to be a fundamental hub for international finance.

The MAS have various functions that they implement on all the financial entities that are registered with them. The first function is that they act as the Singapore central bank, which includes but not limited to, the handling of any monetary or financial policy, the issuance of currency, the supervision of any payment structure, and it serves as a financial entity to any agent in the Singapore government. The second function of the MAS is that they supervise and oversee all financial services, along with the monitoring of financial stability. They also handle the official foreign reserves of Singapore, and apply financial regulations to transform Singapore into a hub of international finance.

The MAS have a primary objective of sustaining the highest standards of behavior in and out of the financial regulatory agency, in order to protect the agency’s interest and reputation. All of their interactions are guided by the ethical principles of professionalism, integrity, and transparency. Their main priority is to protect the confidentiality of data and information that they have attained throughout their dealings with financial entities.

With MAS regulated Forex brokers, they avoid any circumstances that may concern any conflicts of interest. The financial regulatory agency tends to take the right steps to avoid any potential conflicts of interests. The MAS utilizes all resources they have, in a transparent and efficient manner.

MAS Regulated Forex Brokers List

One of the fair few MAS regulated Forex brokers are Plus500, and AvaTrade, who are exclusively registered with the Monetary Authority of Singapore.

Broker
Description
Trade Now
Octafx
OctaFX
Regulation: CySec
Min. Deposit: $/€/£ 5
Leverage: 1:500
Spreads: Low as 0.4 pips

Review


FP Markets
FP Markets

Regulation: ASIC, CySEC
Min. Deposit: $/€/£ 100
Leverage: 1:500
Spreads: Ultra Tight from 0.0 pips

Review


NSBroker
NSBroker
Regulation: MSFA, BaFin, FCA,
Min. Deposit: $250
Leverage: 1:100
Spreads: Low as 1.2 pips

Review
XM
XM
Regulation: CySEC,FCA,ASIC
Min. Deposit: $/€/£ 5
Leverage: 1:500
Spreads: Low as 0.1 pips

Review
Avatrade
Avatrade
Regulation: ASIC,JFSA,FSCA
Min. Deposit: $/€/£ 250
Leverage: 1:400
Spreads: Floating from 1 pip

Review


IC Markets
IC Markets
Regulation: ASIC
Min. Deposit: $/€/£ 200
Leverage: 1:500
Spreads: Low as 0.0 pips

Review


Etoro
Etoro
Regulation: CySEC,FCA,ASIC
Min. Deposit: $/€/£ 200
Leverage: 1:30
Spreads: Variable

Review

XTB
XTB
Regulation: FCA
Min. Deposit: $/€/£ 250
Leverage: 1:30
Spreads: Low as 0.1 pips

Review


IQOption
IQOption


Regulation: CySec
Min. Deposit: $/€/£ 10
Leverage: 1:1000
Spreads: Floating from 1 pip

Review


OlympTrade
OlympTrade
Regulation: IFC
Min. Deposit: $/€/£ 10
Leverage: 1:500
Spreads: Low as 0.0 pips

Review
Globex360
GlobeX360
Regulation: FSCA
Min. Deposit: No min Deposit
Leverage: 1:500
Spreads: Low as 1.6 pips

Review

 

Why Choose MAS Regulated Broker?

This is important. Trading Forex is risky enough on its own without having the additional worry of choosing a broker that is not regulated. Brokers that have been regulated by the MAS will have their customers’ interests at the forefront of their mind with rules to safeguard client interests. For example, they insist that there are segregated accounts to keep business and client funds separate. This means that if the broker goes bankrupt, a customer can still withdraw their money.

MAS Regulated Forex brokers also have to have professional people within their company and they are also required to disclose any information relating to their investment products that are recommended to their customers.

If you make the decision to opt for an unregulated broker, you run the risk of having a lower level of protection in comparison. This is especially true if the broker is based overseas.

MoneySENSE Alerts

MoneySENSE began in 2003 and aims to help consumers to become more self-reliant financially. MoneySENSE issues consumer alerts on a frequent basis, including those highlight the risks of using unregulated brokers. One type of alert occurs when it learns of unregulated brokers posing as MAS-regulated brokers, with fake licensing. Sometimes, the unregulated brokers are sneaky and use similar names to the regulated ones, so MoneySENSE’s alerts can help consumers to tell the difference.

Complaints against MAS Brokers

MAS Regulated Forex Brokers also have to deal with complaints effectively and promptly – another advantage of choosing the regulated broker. The MAS seems to be focused on consumer interest, showing itself to be mindful of international options on regulation. There are regulators that are more reputable, but there are also those who have a much worse reputation too!

In Conclusion

The Monetary Authority of Singapore, or MAS, is the central bank of Singapore and plays an important role of financial watchdog in Singapore. The MAS handles all business with the financial industry in Singapore, with a future objective of turning Singapore into a dynamic international finance center. MAS regulated Forex brokers must put the interests of their customers as a priority, along with the guidelines that allow brokers to safeguard the client’s interest.

As a trader, if you decide to trust in and trade with an unregulated Forex broker, then you are exposed to more financial risk and less protection; this is highlighted with oversea brokers.

MoneySENSE is an alarm system that notifies customers on a regular basis, along with the emphasis of risk that follows trading with an unregulated Forex broker. A type of alert would be the notification to traders that a certain unregulated Forex broker is posing as an MAS-regulated broker, with fake licensing.

One of the fair few MAS regulated Forex brokers are Plus500, and AvaTrade, who are exclusively registered with the Monetary Authority of Singapore.