How well do you know your forex and CFD provider?

In a country like Singapore, with both unregulated and licensed providers in the industry -
it is important to ensure you do your homework and ask some basic questions before
trusting your money and investments with them.

A few basic questions to ask

  • Are they regulated?
  • What happens to your money if they go bust?
  • Are you able to speak to someone locally?

A few simple rules to follow

  • Look to see if your provider is licensed and regulated. All Singapore based leveraged forex trading and CFD service providers must be licensed by the Monetary Authority of Singapore
  • Unlicensed operators do not have to comply with MAS rules and regulations. This includes not being legally obliged to honour any contracts or claims. Will you feel safe with them knowing you have no protection?
  • Remember the Cyprus banking crisis? Find out where and how exactly your money is kept. An offshore provider may not be required to segregate customer funds from its own, which means counterparty risk is higher. Whereas in Singapore, the MAS requires ongoing monitoring and declaration of counterparty risk exposures.
  • Look for a local phone number or address, so you know you can speak to someone in Singapore. Who can you turn to if something goes wrong overseas?

It is important you only deal with regulated, local companies. Offshore providers may be cheaper in the short term but longer term they could cost you everything.

Find out how IG protects your money

Open an account now

It's free to open an account, takes less than five minutes, and there's no obligation to fund or trade.

You might also be interested in...

  • Learn about IG

    See how we’ve been changing the face of trading for more than 40 years.

  • Mobile and tablet trading

    Use our mobile and tablet apps to trade whatever the time, wherever you are

  • Charting packages

    Use IG charts, plus access advanced ProRealTime and Autochartist packages

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

See important Research Disclaimer.

Contact us

Our office is open 5 days a week Monday to Friday from 9am to 6pm. Support line is available 24hrs a day from 8am GMT Saturday to 10pm GMT Friday

+65 6390 5118

You can also email us helpdesk@ig.com.sg

Visit our storefront office at 9 Battery Road