Singapore Forex Brokers are fx brokers that offer services to the citizens of Singapore. Singapore as a countries has developed into a major forex trading hub.
Singapore Forex Brokers List
MAS, JFSA, DIFC
Over the past few years, South East Asia has reported a significant growth in forex trading volumes for all asset classes. For a while now, Hong Kong, Sidney and Singapore have been competing for dominance in this region. However, Singapore managed to prevail the other two and enforce its position as a major global forex and OTC derivatives hub. The average forex turnover volume in Singapore ranges between two hundred sixty and three hundred billion dollars per day, ranking among the five biggest forex centers worldwide.
At the moment, more than six hundred financial institutions are based in Singapore, and these range from banks to insurance companies to forex and CFD brokers. The operations of the financial service providers are overseen by the Monetary Authority of Singapore (MAS). This organization is empowered to act as Singapore’s central bank and to serve as a regulatory body when it comes to forex trading. In order to operate and offer trading services in the country, a forex broker must obtain a MAS license.
Trading forex and other speculative products in Singapore is very popular among its residents. However, before any forex broker in Singapore can accept forex and CFD clients, they must be authorised by the Monetary Authority of Singapore (MAS), which is the financial regulatory body in Singapore. When choosing a broker to trade forex, make sure to check its regulation and variety of services.