Sponsored By
de | cn | ru

Market News

Singapore forex trades drop, main growth expected from institutions

 Singapore, which according to the Bank of International Settlements data is among the three largest forex markets with an average daily volume of $517 billion in 2016, is keeping its position, despite the dropping number of trades, shows an Investment Trends report on the country's market. According to it, in 2016 Singapore increased its market share by 30% from 2015.

 

The data shows that in 2016 an estimated 22 300 people placed at least one forex trade, down from 24 500 in 2015. The report also finds that almost half of the previously active traders has not placed a single trade in 2016. At the same time, the number of forex brokers in Singapore increased, with the new arrivals attracting one in seven trades.

 

According to Michael Go, head of forex market development for Asia Pacific at Thomson Reuters, quoted by Euromoney, the main driver for future growth will be within the corporate space as incentives grow and regional treasury centers start to set up hubs in Singapore.

 

“FX growth in Singapore will be further strengthened if it continues to support the Asian headquarters for mega banks, global institutional investors and multinational companies, as well as the leading private wealth management firms in Asia”, he said.

 

At the same time, the retail leaders at the Singapore market are still the major global players like PhillipCapital, but IG, CMC Markets and Oanda are closing in, shows the report.

 

There are also a growing number of local players, among which are UOBBF, OCBC Securities, KGI, Maybank, UOB Kay Hian, Haitong, etc.

 

As per the local regulations, all forex brokers, 14 as of the beginning of 2017, must have a license from the Monetary Authority of Singapore.

 

 

TAGS: singapore 

Related forex news

Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec, FCA MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$200 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

More Forex Market News

Europe introduces stricter regulation in the crypto sector

Apr 20 2018 14:42:28

    Crypto exchanges operating in the EU will have to be registered with the relevant authorities and will be required to introduce customer due diligence procedures, including ID verification. Read more

FCA adds CFDStocks to its warning list

Apr 19 2018 13:31:23

  The UK Financial Conduct Authority (FCA) warned binary options broker CFD Stocks (www.cfdstocks.com/) has been providing financial services in the country without being authorized. Read more

UK’s FCA warns against unauthorized forex broker GreenFields Capital

Apr 18 2018 13:54:24

  UK’s financial markets and services provider, the Financial Conduct Authority (FCA) has published a warning against forex broker GreenFields Capital. The broker is doing business in the UK and targeting local citizens without having the required authorization, the FCA said. Read more

Forex

Google play no longer allows binary options apps

Apr 16 2018 14:37:06

  Google updated its developer policies and banned binary options apps from the Google Play Store for Android devices previous week. The online giant's move is what seems the final nail in the coffin for these controversial fiancial instruments with huge scam potential. Read more

FCA regulation: Good for markets and consumers

Apr 12 2018 15:40:26

It’s taken 10 years for the embers of the global financial crisis to dim and cool. For those who were economically active when global debt markets ignited, the burns may still feel fresh. Read more

FCA warns against unregulated forex brokers Safemarkets and IDB Trades

Apr 12 2018 13:53:28

  The UK Financial Conduct Authority (FCA) warned against Safemarkets and IDB Trades earlier this week. According to the regulator, the two forex brokerages have been providing financial services in the country without being authorized. Read more

CySEC fines €30 000 parent of Trade.com

Apr 04 2018 15:04:31

  The Cyprus Securities and Exchange Commission (CySEC) said it has fined €30 000 the Leadcapital Markets Ltd. Read more

Spain’s CNMV warns of two unregulated forex brokers

Apr 03 2018 13:49:40

  Spain’s financial markets regulator, the CNMV, has issued warnings against two unregulated companies: MEDIA GC LIMITED (TRADEGC), and MEDIA CLIENT SERVICE, S.L. Read more

UK’s FCA warns of forex, CFD broker KayaFX

Mar 30 2018 13:50:52

 UK’s Financial Conduct Authority (FCA) has published a warning against the forex and CFD broker KayaFX. As per usual, the warning is issued because KayaFX offers its services in the UK, without having the proper authorization. Read more

Ontario’s regulator warns of forex, CFD broker Aidan Trading

Mar 29 2018 11:51:12

The Ontario Securities Commission (OSC) has published a warning against the forex and CFD broker Aidan Trading. According to the regulator, Panama-based Aidan Trading Corp. also operating as Aidan Trading and doing business as www.aidantrading. Read more

Forex
de | cn | ru