The Monetary Authority of Singapore (MAS) is the central bank and financial regulator in Singapore.
MAS was founded in 1971 and is known for its very strict framework and vigorous oversight.
MAS and the British FCA are considered the most reputable financial regulators in the world.
Any Forex broker operating in Singapore must obtain a license from MAS in order to be allowed to operate.
|🔒 Negative Balance Protection||No|
|💰 Compensation Scheme||No|
The leverage for retail clients is restricted to 1:20, however, Qualified Professional Investors can get leverage up to 1:50.
MAS Forex Brokers List
Below are some reputable forex brokers with entities in Singapore that are regulated by MAS.
You can also check yourself if a broker is regulated by MAS, by simply typing in the broker name in their directory: eservices.mas.gov.sg/fid
Please note most brokers automatically assign you to the relevant entity of their brokerage group.
If you are a European citizen, for instance, you normally get signed up under their EU entity (if applicable).
Saxo Bank is a Danish bank with entities in several jurisdictions, including Singapore.
Their entity in Singapore (Saxo Capital Markets Ltd.) is regulated by MAS and holds a Capital Markets Services Licensee.
Using a MAS-regulated forex broker is considered very safe and you can rest assured that the regulator keeps strict financial oversight.
If you specifically want to open an account with a MAS-regulated broker, and the brokerage group is regulated in your jurisdiction, you should contact the brokerage.