Best MAS (Singapore) Regulated Forex Brokers 2018
The OTA edge is our award winning market timing strategy. City Index are famous for their powerful MetaTrader4 FX software, which helps clients trade online effortlessly. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
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If you are a forex trader that wants to trade out of Singapore then which are the best brokers for you? Inside this article, we lay out the very best brokers, based on a combination of our research and through feedback from our users.
The country and city of Singapore is a very wealthy and business friendly destination. The country has a high standard of living, contributing to its status as one of the most sought-after investment destinations in the world.
There has been an influx of businesses from all sectors, including various financial companies and Forex brokers. With such a powerful and massive market like this, the country needs a powerfully competent financial regulator. The regulatory authority responsible for managing the financial success in this country is the Monetary Authority of Singapore MAS. MAS has been making a significant impact on the financial markets in the country since its inception in The regulatory authority has grown over the years and now oversees and administers statutes pertaining to money, banking, insurance, securities and other financial entities, as well as the issuing of currency.
The agency is responsible for the regulation and supervision of all Forex brokers offering their services in Singapore. As well, the MAS takes on the role of the Central Bank of Singapore, which includes the roles of regulating all financial firms operating in the country.
With these roles, it undertakes the responsibility of maintaining a safe, secure, and transparent economy. Although, the MAS does act as a banker to the government and other financial entities. A major part of the Monetary Authority of Singapore is the protection of investors. Everything they do and all the services they provide are in place for the protection of investors by safeguarding the integrity of financial markets.
One of the largest areas of protection the MAS provides investors is the prevention of fraud and financial abuse. They achieve this level of protection by making it mandatory for all financial firms or entities providing services out of Singapore to adhere to their strict regulatory guidelines. MAS regulated brokers enjoy a relatively free and uninterrupted marketplace from MAS and the government. However, they must follow some guidelines to maintain a free and transparent marketplace.
They bid on the fact that most of the traders loose money in Forex trading and take their loss as their own income. But on the other hand the biggest disadvantage of trading with a market maker broker is the security of your funds as this broker is not interested in you making profit in Forex trading. Such broker manipulates the market and may offer its own currency rates that are not necessary to be the real rates of the Forex market.
The STP Straight Through Processor and the ECN Electronic Communication Network brokers work on a different principle and do not play against the client because such brokers are not involved in the definition of quotations, they only reflect the price of their liquidity providers and earn the spread difference between the buy and sell rates of the currency pairs.
There are a number of Forex brokers and Financial companies operating in Singapore, you can find different types of them using different trading platforms. On our website we recommend only reliable companies that offer the security of your funds and trading orders. If you are about to start trading Forex it is very important to define your needs and expectations from both a Forex trading platform and a Forex broker.
Thus you will be able to find the best combination that will provide you with great trading services and security of your transactions. I am trading with eToro for the last 3 months and I want to say that this is an awesome company. I love their trading platform, it is easy to use and has advanced features as well.
The feature that I love the most is their copytrader. I copy some good traders there and they make me money from time to time. Your email address will not be published. The Best Forex Brokers: Facebook stocks have reached their historical highs. Is it a good time to buy Facebook stocks now?