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Although a fairly small country, Singapore is actually a large forex market (in terms of trading volume). According to the 2016 Triennial Central Bank Survey in 2016, it is the biggest FX center in Asia and the third-largest globally after London and New York.
As required by law, the forex brokers operating in the Singapore must have a license from the Monetary Authority of Singapore (MAS). This is an organization empowered to act as the country’s central bank, to manage the official foreign reserve of the country, to develop and promote Singapore as an international financial center, and to be in charge of financial services providers. The latter includes drafting of guidelines, licensing, close supervision aimed at sound and progressive financial services sector.
The local financial regulator’s task is to ensure that authorized brokerages provide high level of customer protection, including but not limited to keeping client funds in segregated accounts. In addition, MAS makes sure that those entities are not creating unfavorable trading conditions for clients and that their employees are sufficiently competent and experienced. The authority also has complete authority over the companies to impose fines and revoke licenses, if it finds any violations.
Above is a list of some of the best forex brokers in Singapore.
Singapore forex brokers news
Authorities in Singapore have launched an investigation into one Hodlnaut, a local crypto lending and borrowing platform. The police has reason to
Binance.sg recently addressed its users and said that it will be officially shutting down its license application in Singapore. Binance Asia Services
The Monetary Authority of Singapore (MAS) has become the latest regulatory agency to flag the major cryptocurrency exchange Binance. It seems, even
Singapore’s leading financial regulator disclosed that it will launch a challenge on an international scale for Central Bank Digital Currency (CBDC) solutions,
DBS Bank will be launching a digital currency exchange. The largest lender in Singapore, through its new project, will allow for institutional
This Wednesday, the Monetary Authorities in Singapore (MAS) decreed that all Wirecard entities present in the city-state are to seize all payment
Singapore based crypto exchange revealed that it was a victim of a $150 million hack, as Bitcoin and other digital coins had
Barclay Plc, the multinational British bank, revealed that it will commence an FX pricing engine in Singapore. This news came this Wednesday,
A new payments legislation recently adopted in Singapore will allow global crypto companies to legally expand their operations in the country, after
Omega Crypto is yet another unregulated Forex brokerage that has been added to the long warning list of the Financial Conduct Authority
In a single case a Singapore national lost over 3,1 million USD (4,3 million SGD) to scammers who lured him with a
Singapore has lowered its leverage cap by more than half. This means forex traders in the country will now have access to
The Monetary Authority of Singapore (MAS) together with the country’s Central bank warned of scammers falsely attributing statements, advertising bitcoin investment opportunities,
The Singapore crypto exchange Bitrue said today it had been hacked for over 4,5 million USD. The coins Ripple (XRP) and Cardano
The police in Singapore has arrested two men for using multi-level marketing schemes to promote OneCoin – a scam cryptocurrency, founded in