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While practices such as margin trading are banned in China completely, many global forex brokers accept clients from China. For example, MAS enforces leverage caps, with companies only able to offer a maximum of regarding forex trading. With this in mind, it would be foolish to promote higher leverage as this goes against the rules and could loose consumer trust for your brand.

Singaporean traders are very organised and on-the-ball. They will spot your mistakes and errors of judgement. Singapore is also a small country where reputations can fall easily, so be extremely careful. TIP: Social media ads promoting your education, company culture or community efforts are likely to be more successful both on the platforms and with your local audience. For several years now, offshore businesses have attracted consumers with high leverage and minimal risk warnings resulting in catastrophic losses.

This includes localising the language on your website so that regional traders know the products and services you have to offer. It also involves creating social media accounts and business pages that are easily searchable. Of course, you need to manage them too by providing support in the relevant languages.

You might also want to open a regional office or helpline that people can access. Seeing that local address on your marketing materials is a big win. Or how about creating a digital assistant or a chat portal to put minds at ease? You also need to keep your technology up and running smoothly as glitches or delays in trading displays can lead to serious losses and a lack of trust. Contact Contentworks today for a marketing strategy that works for your brand and target region.

Go ahead and hit share. The world of financial services marketing is full of roadblocks. There are things you can do…. May was an eventful month for global assets. The biggest story was the remarkable collapse of…. The last few years have been rough. COVID lockdowns wreaked havoc upon virtually every sector of…. Taking place from June….

September 28, Singapore is the largest forex trading hub in SE Asia boasting a mature regulatory framework. FX swaps are the largest product class, accounting for around half of all trades. However, there are ongoing licensing issues. And investor safety concerns have been raised. This is because many offshore forex brokers in these regions operate without a license and offer unsafe leverage due to the lack of regulatory oversight.

According to Trade Forex Malaysia, unlicensed brokerages and unfair practices have raised alarms with the regulators in the region and they have issued alerts and warnings time and time again. SC of Malaysia even added many leading brokers in their investor alert for non-compliance and operating without authorisation. To date, 66 brokers have been licensed by the regulator to operate in Indonesia.

Apart from the growing economy, other factors that make Indonesia an attractive destination for forex brokers are demographics and location. Thailand is an exciting destination for international forex brokers. This gives FX traders more confidence as they know investment and trading activities must be conducted in line with the guidelines issued as brokers are legally required to have a license from the SEC. Beware, popular forex brokers have been blacklisted due to failing to comply to this requirement.

However, the actual number of brokerage firms that are actually regulated is far less with only 40 falling under the latter category around 2 years ago in Due to this, in-depth research needs to be conducted to find these companies and make sure that you are dealing with the properly regulated one. This is where we can assist you by doing a part of the job for you. You can view top Singapore forex trading brokers down below including statistics like their reviews, maximum leverage, minimum deposits, regulations, the year of foundation, and trading platforms.

You can visit their pages just by clicking on the appropriate link and preview their offerings in detail. Alternatively, you can view the reviews done by our team of professionals on our website without clicking away to third-party pages. All of the Singapore scamming companies have also been featured, however, the links to their websites are removed to protect the reader from accidentally clicking on them.

The role includes administering different statutes in connection to money, banking, insurance, securities, and the financial sector overall as well as currency issuance. MAS was founded in to oversee monetary functions that are in connection with banking and finance. Prior to its foundation, these operations were done by the government and its different departments and agencies, however, different economic standards were back in the day.

There was no trading on Forex and thus no Singapore forex brokers regulations. As a trader in Singapore, your aim should be to start dealing with a broker who is regulated by the Monetary Authority of Singapore due to the simple fact that one is far more likely to give the professional service, customer support, good platform integration, and etc.

Apart from this, finding legit forex companies in Singapore at this moment and time is like going through a minefield. It is never so easily apparent as the fake firms are manipulating everything starting from Google algorithms as well as faking the credentials to make themselves look much more authentic than they are. MAS is a government affiliate institution, which has several roles as well as leverages to protect the customers of their licensed brokers. They are responsible for the growth and economic development in Singapore.

The roles include:. In the MAS was created. In the government of Singapore has decided to task MAS with the regulation of the insurance industry in addition to financial services like modern MAS listed forex brokers. After a couple of years, in , the whole Securities Industry Act was transferred to the Monetary Authority of Singapore.

In , MAS has decided to merge with the Board of Commissioners of Currency, which was a previous institution to regulate the currency due to the fact that in monetary union between Malaysia, Singapore, and Brunei had dissolved. So overall, everything regarding brokers and their trades is regulated by MAS. Due to this fact, every trader needs to aspire to work with the brokers who are regulated by MAS.

All of the top Singapore forex trading brokers are registered under CMS license. If it is an individual who wants to become a representative of the CMS there is a CMC Representative license as well for these instances. Working under the MAS Act means that the foreign exchange market broker is not allowed to take any position or subsequently act as a principal in the money market or foreign exchange.

For the institution to be allowed to apply for the CMS license it has to first be a company that is already regulated under the Second Schedule of Securities and Futures Act. The firm has to also be in business for more than 5 years and has an extremely exceptional financial track record during this time. This is what clears out the list of forex brokers Singapore, as it is impossible to just make a firm and register straight away.

Strong internal compliance systems, as well as a presentation of the business plans and projections, which are mandatory for all of the interested institutes to apply for this license. In the case of the futures market, this is lowered to SDG million.

Although, none of this is possible without being the resident of Singapore first. There is a non-refundable fee for the application so the company needs to present all of the necessary documents in due time before applying for MAS. The processing itself takes 6 months and a successful candidate will receive CMS license as well as Annual License Fee Advice, which shows how much fee is required to be paid. For MAS regulated forex brokers the license is valid for 3 years and requires the renewal process.

However, the license fee is paid annually. The renewal fees must be all covered at least 1 month prior to the expiration date of the license. Monetary Authority of Singapore has launched its education program MoneySense in , which aims to help the consumers become more financially self-reliant. This shows that the MAS is a very consumer-oriented organization, making it even more obvious why someone should opt for the MAS licensed broker. Its regulatory capacity involves upholding consumer rights and protecting investments, thus, it is very much interested in educating the public about every detail and is oriented to provide citizens with enough information to make well-educated decisions concerning their finances.

This makes it easier for citizens to be wary of new Singapore forex brokers. MoneySENSE works with the MAS and issues of regular consumer alerts, which involves highlighting risks associated with choosing unregulated financial service providers. One of the biggest topics is warning individuals about deliberately misleading or false regulatory information.

This is what scamming FX brokers do all over the world to lure unsuspecting customers into their elaborate financial affairs. They claim that they have a license from a recognized regulatory body with all of the necessary documentation, however, if doublechecked with the issuing institution they will very quickly tell you that this organization has never registered with the regulatory body. This is done to provide a small show of legitimacy and make the whole process more believable. Sometimes a scamming broker may register with a name that closely resembles the one with the active licensing.

Thus it is always recommended to check the spelling, logo, or even eye-ball the font for comparison. This is why every information a forex trading brokers for Singaporeans provide needs to be double-checked with the regulatory body. To counter this, MoneySENSE provides regular trainings and advice on ways to further protect yourself from these fraudulent companies.

This is one of the biggest reasons why someone should opt for MAS-regulated brokers. Everyone licensed and authorized by MAS is legally required to tend to customer complaints with the utmost attention in a prompt and efficient manner. Should a trader decide to write a complaint to the brokerage firm, it is advised to make a written letter to the company itself first.

This is to have a written confirmed letter of complaint as evidence of referral and communication. If a satisfactory solution cannot be reached the customer can start a formal process by contacting the Financial Industry Disputes Resolution Center FIDReC , provided this has to be done in the 6 months period from the last communication with the forex brokers in Singapore. If none of these are up to satisfaction then the case can be taken to the court.

Apart from all of the regulations that are in place to make sure fair and honest financial service is provided, the Monetary Authority of Singapore is also looking into getting some sort of requirements for non-cleared over-the-counter derivatives.

A lot of other regulatory bodies all across the world have taken this initiative and have been more than successful in their endeavors. As an example, the United States financial regulatory body limits the leverage to when it comes to foreign exchange market transactions involving Swiss francs, and for transactions involving Swedish or Norwegian krone.

This is something to keep in mind since this aspect of Singapore forex brokers regulation is yet to come, however, it is under heavy discussing with an executive decision awaiting to come at the end of the year. Thus, this is something to keep in mind if you want to start trading on FX with currency pairs in Singapore. Instead of pulling normal strings, MAS resolves their monetary system issues by interest rates to influence the liquidity of the currency in the system.

This is done through intervention into the SDG and other different money markets. This is something that differentiates average brokers from top Singapore forex trading brokers since they have to become adept at predicting such changes and make valid consultation. They also review their stance quite a bit less frequently than other central banks — once every 6 months.

As rich as Singapore is, as many scammers and fraudulent people it has.

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Get 1 Free Share When Opening an Account. Trade forex with Singapore Forex Brokers regulated by MAS. Southeast Asia is a well-known region for its importance in the economy and a recent world's. Look at the best Forex brokers trading companies in Singapore that as one of the biggest financial hubs of Southeast Asia – other than.