Forex Brokers Regulation in Singapore

Regulatory body for Singapore forex called Monetary Authority of Singapore(MAS). The MAS Act gives MAS the authority to regulate all elements of monetary, banking and financial aspects of Singapore. The MAS has been given powers to act as a banker to and financial agent of the Government. It has also been entrusted to promote monetary stability, and credit and exchange policies conducive to the Singapore  growth of the economy

MAS’ Objectives

• To do monetary policy and issue currency, and to manage the official foreign reserves and the issuance of government securities
• To make innovate and collaborate among banking, insurance, securities and futures industries, and develop strategies in partnership with the private sector to promote Singapore
• To build a cohesive and integrated organization of excellence.

To make this goal, they make some regulation for Singapore forex brokers. And they must comply it to registered in MAS.

Since it is legal to trade Forex in Singapore, we have seen many brokers setting up here. It is easy to find brokers regulated by the Monetary Authority of Singapore (MAS) to trade with. Regulated brokers are required by MAS to place customers’ funds in a segregated account so the money is protected. In the others words, they separated between customers funds and company asset. In order to trade Forex, the trader has to trade through a broker

Regulation: Make sure you choose MAS regulated broker instead of an overseas or unregulated broker. If you are a foreigner and wish to trade in Singapore, it is best that you look up for more information at the MAS website or check with the Singapore forex brokers. There may be tax implications depending on your nationality, be aware about this regulation. There are also anti-money laundering guidelines. And others strict policies to comply by Singapore forex brokers.

MAS Website : http://www.mas.gov.sg