MAS CMS License holders for leveraged foreign exchange trading 2013-14

Capital Markets Services License-holders regulated by Monetary Authority of Singapore

MAS

As at 25 January 2013As at 07 January 2014
BLACKROCK (SINGAPORE) LIMITEDBLACKROCK (SINGAPORE) LIMITED
CIMB SECURITIES (SINGAPORE) PTE. LTD.CIMB SECURITIES (SINGAPORE) PTE. LTD.
CITIGROUP GLOBAL MARKETS SINGAPORE PTE. LTD.CITIGROUP GLOBAL MARKETS SINGAPORE PTE. LTD.
CITY INDEX ASIA PTE. LTD.CITY INDEX ASIA PTE. LTD.
CMC MARKETS SINGAPORE PTE LTDCMC MARKETS SINGAPORE PTE LTD
CUSTOM HOUSE CURRENCY EXCHANGE (SINGAPORE) PTE. LIMITEDCUSTOM HOUSE CURRENCY EXCHANGE (SINGAPORE) PTE. LIMITED
DBS VICKERS SECURITIES (SINGAPORE) PTE LTD
FIRST STATE INVESTMENTS (SINGAPORE)
GFT GLOBAL MARKETS ASIA PTE LTDGFT GLOBAL MARKETS ASIA PTE LTD
GOLDMAN SACHS (SINGAPORE) PTE.GOLDMAN SACHS (SINGAPORE) PTE.
G.K. GOH FINANCIAL SERVICES (S) PTE. LTD.G.K. GOH FINANCIAL SERVICES (S) PTE. LTD.
IG ASIA PTE LTDIG ASIA PTE LTD
MAYBANK KIM ENG SECURITIES PTE. LTD.MAYBANK KIM ENG SECURITIES PTE. LTD.
MERRILL LYNCH (SINGAPORE) PTE. LTD.MERRILL LYNCH (SINGAPORE) PTE. LTD.
MF GLOBAL SINGAPORE PTE LIMITED (IN CREDITORS' VOLUNTARY LIQUIDATION)MF GLOBAL SINGAPORE PTE LIMITED (IN CREDITORS' VOLUNTARY LIQUIDATION)
MORGAN STANLEY ASIA (SINGAPORE) PTE.MORGAN STANLEY ASIA (SINGAPORE) PTE.
OANDA Asia Pacific Pte. Ltd.OANDA Asia Pacific Pte. Ltd.
OCBC SECURITIES PRIVATE LIMITEDOCBC SECURITIES PRIVATE LIMITED
ONG FIRST TRADITION PTE LTDONG FIRST TRADITION PTE LTD
PHILLIP FUTURES PTE LTDPHILLIP FUTURES PTE LTD
PICTET ASSET MANAGEMENT (SINGAPORE) PTE LTD
SAXO CAPITAL MARKETS PTE. LTD.SAXO CAPITAL MARKETS PTE. LTD.
TRAVELEX GLOBAL FINANCIAL SERVICES (SINGAPORE) PTE. LTD.
UOB BULLION AND FUTURES LIMITEDUOB BULLION AND FUTURES LIMITED
UOB KAY HIAN PRIVATE LIMITED UOB KAY HIAN PRIVATE LIMITED
WUBS FINANCIAL SERVICES (SINGAPORE) PTE. LTD.

Source: Number of Financial Institutions and Relevant Organisations in Singapore

As a simple summary, we see new entrants First State Investments, Pictet Asset Management and WUBS Financial Services while DBS Vickers and Travelex Global exit the stage. Folks who do not recognise the name WUBS may recall its more recognisable brand Western Union.

 

Facts, leveraged foreign currency trading in Singapore

3rd largest forex centre

According to the preliminary results of the BIS Triennial Central Bank Survey 2013, Singapore is now the 3rd largest foreign exchange trading centre in the world. Singapore advanced from the 4th spot in 2010 to 3rd, displacing Japan.

 

Securities and Futures Act

The Securities and Futures Act (SFA) covers financial market operators including brokers for leveraged forex trading in Singapore. It ensures the proper functioning of the market. Some reasons why MAS regulation is important.

 

Messages from the monetary authority

It is important for traders to make use of services provided by regulated forex brokers.

Why should consumers not deal with unregulated persons?

Consumers are strongly encouraged to deal only with persons that are regulated by MAS. MAS’ regulatory regime aims at safeguarding the interests of consumers by ensuring that only competent and professional persons may provide financial services. If a consumer chooses to deal with persons that are not regulated by MAS, he forgoes the protection afforded under laws administered by MAS, particularly if these persons are based overseas.

And this story relates our own encounter with unregulated persons ‘Forex Scam: Fraudulent setup claiming to be regulated broker‘.

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Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005. Soh Tiong Hum is a member and regular speaker at Technical Analysts Society Singapore events and has a bi-monthly lunch time event at IG Singapore on forex and stock markets. He is an avid blogger on technical analysis topics; his Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX. Come find Tiong Hum on Google+
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