Low Deposit Forex Brokers in Singapore
Sorting out forex brokers based on their countries is easy, but what if you also need to start with small capital? For you who look for Singaporean forex brokers with low deposits, this list is specifically compiled to meet your requirements. Browse through their provided details to sharpen your observation, as choosing a good forex broker does not solely depend on its country location and low deposit.
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What is MAS contribution to forex trading in Singapore?
Forex trading in Singapore is overseen by the Monetary Authority of Singapore (MAS). This regulatory body is very strict and alert in seeing suspicious broker or investment activities in its territory.
MAS prohibits brokers from operating without its regulation, protecting traders from fraud and fraudulent practices. Without regulation from MAS, brokers that reside in Singapore will be terminated immediately. In short, you can expect stable and secure forex trading in this country due to MAS' strict authority.
Continue Reading at Top 10 Countries to Live as a Forex Trader
What are the best brokers for Singaporean traders?
Here are a few of the best brokers that Singaporean traders use:
- OANDA: Regulated by MAS (200704926K).
- Plus500: Regulated under MAS (201422211Z).
- Saxo Broker: Regulated by MAS under license number (200601141M).
- Interactive Broker: MAS-regulated broker under license number (CMS100917).
- City Index: MAS regulations with license number (201130598R).
- AvaTrade: Offers SGD trading and local customer support.
- FBS: Offers local customer support for Singaporean traders.
Continue Reading at Top Forex Brokers in Singapore
What should we know about Singapore Dollar (SGD)?
SGD is the currency of the island state of Singapore. Right now, the currency is issued and monitored by the Monetary Authority of Singapore. The SGD pegged its Dollar to the British Pound Sterling until the early 1970s, then switched to the US Dollar for a short period of time. However, from 1985 onwards, the Singapore Dollar floated within an undisclosed bandwidth, closely monitored by the Monetary Authority of Singapore (MAS).
Economy-wise, Singapore ranks in the world's top five financial centers. Singapore's economy depends heavily on its exports including consumer electronics, IT products, pharmaceuticals, and financial services. Their free-market economy operates in an open and corruption-free environment with stable prices and GDP. In terms of trading itself, Singapore has a pretty active trading community. In fact, it has plenty of successful traders.
Continue Reading at USD/SGD Trading: Why and How to Profit from It
Is it legal to trade forex in Singapore?
Singapore belongs to the rare few who allow forex trading. So, yes. You can trade forex in Singapore. It is 100% legal. It is very rare considering most of Sout East Asian countries have strict regulations for this.
Continue Reading at Forex Trading in Singapore: 5 Facts You Need to Know
