Overview of Forex Market in Singapore
Singapore is the largest Forex market in Asia Pacific and third largest Forex market in the world after the United Kingdom and United States.
From data of 53 central banks and Singapore central bank (MAS), a summary of trading volume is as follows:
- The largest financial center in the world is the United Kingdom which accounts for 43.1% of global market share,
- followed by the United States which accounts for 16.5%
- Singapore and Hongkong which accounts for 7.6%, and Japan which accounts for 4.5%.
- Reference: The Straits Times
Forex trading volume in Singapore market
- Singapore market on average gains Forex trading volume of 640 billion US dollars per day.
- Reference: Singapore Central Bank (MAS)
Forex brokers in Singapore
In Singapore, a Forex broker can be set up legally by applying for registration directly with Singapore central bank (Monetary Authority of Singapore).
At present, there are many brokers listed at MAS, including:
- Monetary Authority of Singapore (Co. Reg. No. 200510021K)
- Office Address: 9 Battery Road #01-02 MYP Centre, Singapore, 049910
- Monetary Authority of Singapore (Co. Reg. No.: 200601141M)
- Office Address: 3 Church Street, #30-00 Samsung Hub, Singapore, 049483
- Office Address: 168 Robinson Road, Capital Tower #20-01, Singapore, 068912
- Office Address: 1 Temasek Avenue, Millenia Tower #18-07, Singapore, 039192
Any of the regulated Forex brokers who are internationally recognized can accept Singaporean clients and can have a deal with them.
1. XM Group
✓Accepts Singaporean Clients
- Year Founded: 2009
- Regulators: FCA, ASIC, CySEC, FSC
- Promotion: Trading Bonus $30, Deposit Bonus
- Minimum Deposit: $5
- Maximum Leverage 1:1000
- Visit XM Website
2. Exness
✓Accepts Singaporean Clients
- Year Founded: 2008
- Regulators: FCA, CySEC, FSA, and others
- Promotion: Swap-Free 2 Level, Free VPS Server
- Minimum Deposit: $10
- Maximum Leverage: Unlimited
- Visit Exness Website
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