Is binary options legal in Singapore?

Singapore reminds us of luxury cruises, the magnificent city lifestyle, skyscrapers, malls, and a developed financial market. Luckily, binary options trading has become increasingly popular as a result of internet and technological advancements. Most traders in Singapore are well aware of trading strategies involved with binary options trading. Well, what if you are interested in binary options trading in Singapore? It is completely your responsibility to check  – is binary options legal in Singapore?

Is option trading legal in Singapore

Brokers offering Binary Option in Singapore legally

There are regulators of global repute like CySEC, FSA, MiFID, FMRRC, and IFSC. They regulate and monitor binary options brokers so that you can trade in a safe, secure and transparent environment. Most of the trustworthy brokers are regulated by multiple governing bodies and offer their services in Singapore. Hence you can choose from such brokers without thinking much on – Is binary option legal in Singapore? 

  • Trading account starting with $10
  • Payout up to 95%*
  • Most trusted broker in Singapore
  • Quick deposit and withdrawal
  • Free Demo with $10,000 
  • Minimum deposit $10
  • Free trading signals
  • PC, iOS and Android Apps
  • Fund withdrawal to card or wallet
  • Free Demo Account with $10,000 
  • Minimum deposit $5
  • Bonus deposit available
  • Free education on strategies
  • Free Demo Account with $1,000
  • 1 hour fund withdrawal 
  • Complies with IFSC
  • Payout up to 90%
  • Minimum deposit $10
  • Advanced trading platform
  • Quick fund withdrawal processing
  • Weekend trading available
  • Free Demo Account with $10,000

The role of regulators – Is binary option legal in Singapore?

The key regulatory body regulating binary options trading is the Monetary Authority of Singapore. It assists in protecting the financial marketplace of the nation against financial troubles. Monetary Authority of Singapore has helped in preserving the transparency of binary options and Forex trades in the country. Additionally, it has dominated the binary options and currency marketplace.Is Binary option legal in Singapore

Due to the existence of the regulatory body, individuals are guarded against unscrupulous brokers who try to cheat individuals with their unfair trading practices. The Monetary Authority of Singapore assists in assessing broker performance for evaluating the integrity and trustworthiness of the brokers in the nation. The traders get a reasonable understanding of the credibility of the brokers before trading with them.

They also run appropriate activities for comprehending Forex market risks as well as the linkages. Aside from regulation, the Monetary Authority of Singapore can also be involved in generating awareness among individuals. The traders are trained to use various technology tools linked with all the financial markets, especially in binary options trading. This function contributes to the growth and maturation of the binary options trading marketplace and related technological advancements.

But, the traders must be careful while selecting a broker. The broker, which complies with reputed international regulatory bodies, is relatively safe compared to a completely unregulated broker.

Effectiveness of regulators

Financial trading in Singapore is not immune to external components like global news, political developments, etc. Therefore, binary options trading can be influenced by overseas players on the currency market, technological progress connected to the international situation. As lots of binary options brokers are abroad, Singapore can’t govern the binary options trading marketplace single-handedly.

Therefore, the regulators should encourage binary options trading like any other Options trading. The regulatory bodies need to promote binary options brokers in Singapore to provide their services. The traders may consult with the brokers’ record issued by the Authority to inspect the trustworthiness of the brokers and transaction accordingly. They’re also able to learn technical abilities about trading in binary options.