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
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.
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.
Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005.
Soh's Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX.
"I do not have a financial advisor's license. I am not qualified by any regulator to give financial advice. I do not know you the reader. Your investment means and motive may be different from me. My posts here are based on observations and meant for education. I am not responsible for for any consequence from your actions."