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, read on to find about brokers in Singapore and how best to protect your investment.

 

MAS Regulated Forex Brokers List

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

Review


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

Review


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

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

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

Review

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

Review


 

Why choose a 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 do exist regulators that are more reputable, but there are also those who have a much worse reputation too!