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MAS (Singapore) Regulated Forex Brokers

MAS Regulated Forex Brokers in Singapore
The Monetary Authority of Singapore, also known as the MAS, is the only regulatory body responsible for overseeing the Central Bank, Forex brokers, financial institutions, insurers, capital markets, and so on in Singapore. MAS was founded in 1971 under the Monetary Authority of Singapore (MAS) Act. The organization ensures the safety and security of all the traders, investors, and service providers of the financial markets by administering the required laws and regulations. MAS also cooperates with reputable organizations such as the International Association of Insurance Supervisors (IAIS) and the International Organization of Securities Commissions (IOSCO) to keep up with the same set of international standards.
IG
IG
Min Deposit $300
Standard Account
Leverage up to 1:50
Floating Spreads

Forex, CFDs, Metals, Bonds, Commodities, Options, ETFs
IG platform, ProRealTime, MT4
Bank wire, Credit cards

Regulation: FCA, BMA, MAS, NFA, FSCA, ASIC
Year Founded: 1974
Headquarters: UK

Oanda
Oanda
Min Deposit $1
Standard, Premium
Leverage up to 1:100
Floating Spreads

Forex, CFDs, Metals, Bonds
OANDA Trade desktop, MT4 Platforms
Bank wire, Credit cards, Paypal

Regulation: FCA, ASIC, MAS, IIROC, FSA, NFA
Year Founded: 1996
Headquarters: USA

Swissquote
Swissquote
Min Deposit $1000
Standard, Premium, Prime, Pro account
Leverage up to 1:100
Floating Spreads

Forex, Stocks, Shares, bonds, Futures, ETFs
Advanced Trader, MT4 & 5
Bank wire, Credit cards

Regulation: FINMA, FCA, DFSA, SFC, MFSA, MAS
Year Founded: 2000
Headquarters: Switzerland

Interactive Brokers LLC
interactive brokers
Min Deposit $10000
Individual, Joint, Trust
Leverage up to 1:40
Floating Spreads

Forex, CFDs, Metals, Energies, Stocks, Bonds
TWS Platform, IBKR Mobile & Web Platform
Bank wire, Credit cards

Regulation: FCA, NFA, CFTC, SEC, MAS
Year Founded: 1977
Headquarters: USA

MAS Forex Regulation in Singapore

MAS or the Monetary Authority of Singapore is an integrated supervisory organization in charge of regulating the central bank (i.e., exchange rate, official foreign reserves, and liquidity) as well as financial markets’ participants (i.e., Forex brokerage firms, financial institutions, capital markets intermediaries, insurance companies, investment service providers, and stock exchange) in Singapore. It should be noted that the Monetary Authority of Singapore (MAS) Act in 1970 led to the establishment of MAS as a regulator for the financial services sector, as of January of 1971. Moreover, the Security Industry Act 1973 has also empowered MAS to oversee the insurance industry. MAS is to protect the financial markets within its jurisdiction against malpractice and financial misconduct in the hope of maintaining a safe and flourishing financial center for all its participants. To that end, trying to attain a well-developed and ever-growing economy for all of Singapore is at the top of MAS’s list of priorities. MAS takes pride in its integrity, commitment, high standards, as well as its quality of teamwork. MAS also takes necessary initiatives when it comes to breaking the rules and regulations to keep the reputation of this financial center intact.

To operate more effectively as a regulator, MAS constantly makes sure that the existing as well as new trends – that could potentially make market participants susceptible – undergo a series of methodical examinations. Furthermore, MAS must educate the investors about the financial risks so they can avoid unnecessary pitfalls. MAS also knows how important it is to adapt to technological advances that come along and have the right skills for surviving and thriving in the financial industry. MAS’s board of directors, nominated by the president, takes care of the policy and general administration of the organization’s activities and also exchanges relevant regulatory and monetary information with the government. The board of directors answers to the Parliament of Singapore.

MAS consists of unique advisory panels and committees for receiving quality advice, namely the MAS Cyber Security Advisory Panel (CSAP), the International Advisory Panel (IAP), the International Technology Advisory Panel (ITAP), and the Singapore Note and Coin Advisory Committee (SNCAC). MAS cooperates with regional groups including the ASEAN and ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meetings (AFMGM and AFMGM+3), as well as widely known organizations such as the International Monetary Fund (IMF), the World Bank Group (WBG), the Basel Committee of Banking Supervision (BCBS), the International Association of Insurance Supervisors (IAIS), and the International Organization of Securities Commissions (IOSCO).

MAS Functions and Duties

MAS, as a dutiful regulator, seeks to ensure a safe and secure business environment for all of those who want to do business in the financial markets of Singapore. Additionally, MAS takes actions concerning monetary policies (e.g., exchange rate and liquidity), currency, and payment systems on behalf of the government of Singapore. MAS also monitors financial service providers’ operations closely to make certain that their activities are above board, handles the official foreign reserves of Singapore, and attempts to promote Singapore as a fine international center for doing business. To perform its duties, as a banker and as a governmental financial agent, MAS cooperates with both regional and international organizations for better and more improved regulatory services. Other areas of MAS responsibilities include Anti Money Laundering and Terrorism, Enforcement of Disciplinary Measures, FinTech Regulatory Sandbox (for innovative financial products and services), and Cyber Security.

Here’s How You Can Check Your MAS Forex Broker’s License:

MAS provides a “Financial Institutions Directory” page where you can search for your broker’s license type or their activities in Singapore. Simply go to the webpage, type in the required info in the box or browse through the page to find the details of your forex broker.
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