Broker Binary Option Singapura – Broker binary options Singapura

Top Singapore Brokers 2020

We’ve tested and reviewed the best Singapore binary options platforms. We’ve done the reviews based on the following criteria:
Good Returns & easy-to-use withdrawals. We ONLY list and approve the best binary brokers with guaranteed fast payouts or withdrawals.
Bonus Conditions.
Secure of funds
24/7 Customer support for Singapore traders.

Binary Options Brokers

Online Trading Platforms

About Binary options for Singapore

Nowadays, Singapore binary options trading has gained momentum than the physical stock trade. All binary options platforms ranked above are providing all the facilities for those who wish to do binary trading in the safest way.

Find trusted brokers to trade binary options for Singapore is not difficult. Some kind of guidance from professionals can make one an expert in this kind of trading. Mostly regulated brokers can provide their assistance in this regard.

All platforms can help in easing the trading procedure. They maintain a track of trading history of their clients and assist them in trading. While selecting a decent broker it is necessary to know the background of the broker whether they are registered with the regulatory authority or not.

The Monetary Authority of Singapore (MAS) is the regulator for all the investment firms that are operating in Singapore. As the binary option is a new industry in Singapore, there are not many brokers registered with MAS.

Mostly regulated brokers have obtained license from CySEC ( Europe ) which is Cyprus based, making efforts to get regulatory approval from European countries. It is better to get a local Singaporean contact number while dealing with European brokers.

There are many binary options brokers offering dedicated support to Singaporean Traders. Some of them to get acquainted are:

• IQ Option: They are surely the most popular binary options trading app in Singapore. They are an European regulated broker offering a free demo account with a low minimum deposit of $10.

Availing the services of a registered broker may ease trading and make profits too.

Binary Options Singapore

Singapore is a small island city state which lies off the coast of the southern tip of the West Malaysia peninsular. Home to a population of 5 million people, Singapore is an economic power house within South East Asia (S.E.A). The flexible and preferential tax policy of the country has produced a conducive investment environment making the country a top destination for foreign direct investment making Singapore Asia’s top financial center. Nevertheless, the financial markets were largely off limits to the average resident in Singapore due to the large capital investment required. However with the debut of binary options in 2008 in the online retail trading sector, many Singaporeans have taken a keen interest in binary options trading. The vast improvement in internet technology and high ownership of smartphones has enabled the average Singaporean to access the financial markets straight from the palm of their hands. In addition, binary options are easy and very affordable to trade with. Their high returns have also made them a very attractive investment vehicle. Nevertheless because binary options in Singapore is a relatively new market innovation, there are concerns about the legitimacy of binary options trading in Singapore.

Best Brokers in Singapore

Given the strict regulatory oversight provided by MAS, the best brokers for Singaporeans are those who are registered and authorized by MAS. But given the lack of firms that are based locally, the next best option for Singaporean traders is to go for offshore brokers which are regulated. Although these companies are not regulated by MAS, it is unlikely that they will act fraudulently as the licensing authority in the broker’s home country will most likely be revoked should the license of the brokerage firm be involved in criminal activities overseas. To assist our readers in making their choice, we have compiled a list of brokers that are suited to the needs of the Singapore binary options traders.

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Regulations

In Singapore, the main financial regulatory body that is responsible for regulating the financial industry is the Monetary Authority of Singapore (MAS). The MAS also act as the central bank of Singapore. Established in 1971, the MAS is empowered by the Monetary Authority of Singapore Act to regulate and supervise the banking and financial industry as well as implementing monetary policies. Its main mission is to promote sustainable economy growth in the country as well as ensuring developing Singapore into “a sound and progressive financial centre”.

The MAS tasks include:

• Acting as the government’s banker
• Conduct the country’s monetary policy
• Developing Singapore as a global financial center
• Issue currency
• Managing the country’s foreign reserve
• Supervising the payment system in the country
• Supervision of the financial industry and ensuring its integrity and stability

While MAS monitors the financial markets in Singapore strictly, this regulatory supervision is based on an existing legal framework. Unlike in Europe, UK and the U.S, binary options trading in Singapore is not as well regulated as other types of more established markets like the spot forex market. This is because binary options fall under a gray area and as such it is extremely difficult for a dedicated binary options broker to obtain a license to operate in Singapore. To date, there have only been a handful of online brokers that have managed to gain authorization from MAS to operate in Singapore. Hence, there is a scarcity of Singapore binary options brokers. But this has not stopped Singaporeans from signing up with offshore based binary options broker as there is no legal restricition to prevent a Singaporean from doing so.

While this has opened up a plethora of choices for Singapore binary options traders, the MAS has advised Singapore binary traders that by dealing with unregulated brokers outside of the country, they will lose access to the dispute resolution mechanism offered by MAS. Investors in Singapore are reminded by MAS to always conduct due diligence on the brokers that they want to sign up with before they open an account. To help investors check if the broker which they are signing up with is authorized, the MAS maintain a list of licensed brokers and “Investor Alert” of unauthorized financial services providers operating in the country.

Deposit methods available in Singapore

As a major tourist financial center in S.E.A, the payment infrastructure in Singapore is well established. All international credit and debit cards are accepted by businesses. In addition because of its large migrant workers population, the remittance industry also supports a wide range of remittance providers such as Western Union and MoneyGram. eWallets are also popular among Singaporeans as most of them holds an eWallet for making payments on online shopping websites. Given the large number of international banks that have established a presence in Singapore, bank wire transfer is also a widely available method of remitting funds overseas. In other words, Singaporeans have at their finger tips a wide range of payment methods which they can use to fund their trading accounts.

• Is it legal to trade binaries in Singapore?

Yes. Binary options trading in Singapore is legal as there is no legal framework to regulate the trading of binaries in the country.

• Are binaries regulated in Singapore?

No. Currently, binary trading is not regulated. However, brokers are not permitted to operate in Singapore without first obtaining a license from the Monetary Authority of Singapore.

• How to trade binaries in Singapore?

There are 2 ways for a Singaporean to trade binaries. The first way is to sign up with a local operator to open a trading account. The second method is to sign up with an offshore brokerage firm. Given the lack of choices of binary options brokers in Singapore, many Singaporeans have opted to sign up and open a trading account with firms which are regulated in Europe.

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