Forex trading Singapore - Forex Brokers in Singapore
Forex trading Singapore – Trade Forex with the market leaders in Singapore. Trade Forex with the global providers of online Forex trading in Singapore. The Forex brokers accepting Singapore traders are analyzed for best trading conditions and trustworthiness. These brokers are the pioneer in the market and comply with the stringent regulations of multiple regulators. We thoroughly analyze the brokers for their credibility and integrity, then we recommend them to the traders. So that the traders get the maximum trading capability, competitive spread, and more profit while trading with these Forex brokers in Singapore. When you are looking for “Forex Brokers Singapore“, you can check out the brokers listed here.
FBS Forex Singapore is one of the preferred Forex brokers in Singapore. They have gained the trust of the Singapore Forex traders as they are offering a no deposit bonus of $50 to start with. FBS Singapore complies with the standards set by IFSC and accepts traders from all over the world including Singapore. You can trade in a safe and transparent trading environment with FBS in Singapore.
Trading Gold and Silver – Online Forex trading Singapore
Invest in precious metals as a diversification strategy or trade them just to make a profit from its price fluctuations. You get free professional analysis and currency forecast with high accuracy to increase your profitability. These recommendations work well for day traders and for long-term investors when used with proper risk management.
CFD trading allows trading on whether the value of a financial product (Asset – EURUSD, GBPUSD, XAUUSD etc ) is likely to increase or decrease so that you can profit from both rising or falling market. CFD trading provides you higher leverage which magnifies your potential profit as well as potential loss. Hence CFD traders mostly take short-term trades just to profit from price variations. Most of the traders from Singapore trading online Forex in Singapore trade CFD on currency pairs, Metals, Oil etc. However, you must be careful while using leveraged trading. The leverage may be used to multiply your profit but the potential loss should be limited by setting the Stop Loss. You must trade Online Forex in Singapore in a demo trading account to get the proper knowledge and skill without risking your money.
Forex trading Singapore- Why should you trade Forex in Singapore?
The Forex market involves trillions of US Dollars in trading volume every day. Almost $5.5 trillion worth daily trade volume take place in the Forex market, so in terms of the trading volume, Forex market is the largest market in the world. It is a decentralized marketplace, hence no agency or government has any kind of absolute control over it. The Forex market set the market rate of one currency with respect to the other, which fluctuate due to several factors. This brings the opportunity to make a profit from the price fluctuation of one currency with respect to the other. The Forex market is the highly liquid market and it offers trading opportunity 5 days a week and 24 hours a day. This is the reason many traders from Singapore prefer to trade Forex.
CFD trading Singapore – Online trading Singapore
CFD stands for “Contract for Difference”. It is the contract between the broker and the trader to exchange the difference between the opening and closing price of the contract. CFD is a derived financial product where you have no obligation to buy the underlying asset. Hence you don’t have to get into the complications of buying the underlying asset and pay the related costs in owning the asset. (taxes, stamp duties etc.) The best thing about CFD trading is that it allows you to trade in both direction – you can take a short SELL) or long (BUY) position. You can use the leverage to trade a position of $10,000 with a deposit of margin amount of $500. This amounts to 1:20 leverage. If the trade goes in your favor, your profit gets 20 times multiplied. Else your loss gets 20 times magnified in case of a losing trade. Hence you must be careful while using leverage while trading CFD.
Forex brokers Singapore – Minimum Spread and flexible margin
Most Forex brokers recommended here offer tight spreads and flexible leverages to enable you to trade in bigger sizes. But using higher leverages magnifies your potential losses too. Hence, you must use leverage cautiously while trading Forex in Singapore. Flexible leverage helps you to choose your leverage requirement yourself. While selecting the broker to trade with you must be careful about the Brokers’ integrity and credibility along with their customer support standards.