Forex regulation in Singapore
This page explains the authorities and public records connected with retail forex and CFD activity in Singapore. Rules can depend on the product, legal entity, client type and location.
Regulatory overview
MAS licences are few and demanding. Most brokers serve Singapore residents from their Australian or offshore entity.
Authorities
Broker records
| Broker | Authority | Licence | Status | |
|---|---|---|---|---|
 eToro 9.0/10 | MAS | CMS101824 | Review pending | View licence record |
 Plus500 9.0/10 | MAS | CMS100648 | Review pending | View licence record |
 MultiBank Group 8.7/10 | MAS | CMS101174 | Review pending | View licence record |
 CMC Markets 8.5/10 | MAS | Not confirmed | Review pending | View licence record |
 IG 8.5/10 | MAS | Not confirmed | Review pending | View licence record |
 Saxo Bank 8.4/10 | MAS | Not confirmed | Review pending | View licence record |
 FOREX.com 8.2/10 | MAS | Not confirmed | Review pending | View licence record |
 Swissquote 8.2/10 | MAS | Not confirmed | Review pending | View licence record |
 City Index 7.7/10 | MAS | Not confirmed | Review pending | View licence record |
 OANDA 7.5/10 | MAS | Not confirmed | Review pending | View licence record |
Client protections
Under MAS
- Client-money rules
- Applies in limited circumstances
- Capital requirements
- Confirmed
- Negative balance protection
- Not confirmed
- Leverage restrictions
- Applies to eligible retail clients
- Compensation scheme
- Not confirmed
- External dispute resolution
- Not confirmed
- Risk disclosures
- Required for relevant firms
- Reporting or audit
- Required for relevant firms
Complaint routes
We have not confirmed a public complaint-submission route for an authority in Singapore. Check the official website and the broker's governing documents.
Official warnings
Frequently asked questions
Is forex trading regulated in Singapore?
MAS is the authority on record for Singapore. MAS licences are few and demanding. Most brokers serve Singapore residents from their Australian or offshore entity.
Does a foreign licence protect a trader in Singapore?
Only when the account is legally contracted with the licensed entity and the licence permits the relevant service. A broker brand may operate several entities, and the protections follow the entity that signs the account agreement, not the brand.