Forex trading: everything you need to know if you are a Singapore based trader
Forex is considered as the most chaotic market among international traders. It’s also a choice that could turn out being profitable for your business. So, today we are here to help you choosing a forex broker in Singapore: following a few rules will allow you to have an incredible trading experience.
How can I become a Forex trader in Singapore?
First of all, we want to reassure you: Forex trading is completely legal in Singapore. In fact, there is an authority called MAS (Monetary Authority of Singapore): one of the major entities who make rules to safeguard traders online. So, you can operate without problems if you pay attention to regulations and certifications owned by a platform!
The process to access to Forex is very easy: you pick a good broker and open an account. Naturally, you gave to prove your identity to start using the platform!
CMC Markets: the first best broker in Singapore
One of the most appreciated Forex broker in Singapore is CMC Markets. Obviously, we are presenting you a trusted platform: he has a regulation from ASIC, FCA and also from the major authority in Singapore: you can really operate safely!
This broker is famous because he tries to satisfy every kind of user: in fact, you can select different accounts to start as a professional trader or a beginner. You should also know that you can use a free demo account: an advantage to become familiar with these new financial instruments, but without taking risks!
CMC Markets is known as a broker that offers law spread: on Forex, you can trade starting with 0.3 pips; this is really helpful for those ones that have a reduced capital. So, if you are a Singapore based trader looking for a complete experience of trading, CMC markets is the first proposal you can value.
Swissquote: a regulated broker to trade in Singapore
Swissquote is another platform that we recommend to global traders: this is an international broker who owns a lot of certification by regulated authorities. This means that you can access to Forex with a safe and professional broker; an essential requirement to trade without worrying about scams.
This broker offers many accounts: standard, premium, prime. Naturally, if you are starting as a beginner, the best choice is the standard account with a law minimum deposit. We want to be clear: when you pick a professional account, you can easily see that spread are lower!
Swissquote proposes also a demo account with no minimum deposit and an Islamic one to guarantee a large number of satisfied users!
Swissquote has not a welcome bonus, but this doesn’t mean that his platform is not a good one: even better, is certainly one of the most famous!
Saxo Bank: the last best broker in Singapore
We want to offer tou a wide choice, that’s why you should know Saxo Bank. Even in this case, you can acces to Forex in the safest way: he has regulations from international trading authorities.
This platform is really appreciated because is rich of assets to trade on with law and competitive spread. In fact, you can trade on you favourite currency pairs starting form 0,3 pips.
Saxo Bank offers best proposal if you pick a professional account, but you must know that the minimum deposit is higher.
If you need to control by yourself the services offered by Saxo Bank, we have a simple solution: you can start with a full demo account. Naturally, the broker doesn’t require a minum deposit, but users will use the entire platform becoming comfortable with this new trading platform!