What to look for in a good Singapore forex trading platform online
If you are just beginning to trade forex, it might be very aggravating to choose the right online trading platform due to the sheer number that is available to Singaporeans.

• REGULATION – All reliable online trading platforms must be regulated by some of the international institutions such as FCA (UK), ASIC (Australia) or CySEC (Cyprus). Many Singapore brokers are regulated straight by MAS Monetary Authority (Central bank).

• COMMISSIONS – calculated as a fixed charge that you pay for each round lot traded. They are normally about $7. Some fx brokerages allow a trading account where you don't pay a commission. For this type of account, though, see the spreads for your currency pair. It would tend to be costly than the merchant account where you pay the flat commission transaction charge.

• SPREAD – If you prefer a trading account with no charges, the maximum spread for intraday trading is about 1.2 pips. If you like a trading account with an order execution price, the best Forex broker gives a spread on the EUR / USD currency pair of as low as 0.01 pips.

• CUSTOMER SUPPORT – This is vital! Quality brokers offer customer assistance 24 hours 5 days a week. All of them have customer care not only in the English language but also in other languages and some might even have support in Malay or Thai.

• TRADING PLATFORMS – The MT4 trading platform, or an upgraded version MT5, is now a gold standard in forex trading. Some known trading platforms also include cTrader. Most brokerage is giving its Webtrader solution (many use the Sirix platform which is excellent) and inhouse developed iOS/Android Apps.

Is Forex legal in Singapore?
Yes unlike in Indonesia where forex is illegal, Singaporeans are open to trade currencies online with any forex broker they desire. Currency trading has been very common and is luckily perfectly legal in the nation. Right now, there are more than 550 financial providers present in the country. Though forex trading is legal here, always make sure to check the articles before investing.

To know more, read Best Forex Broker Singapore 2020 for information.
https://www.binarytradingsingapore.com/forex-trading-singapore/