Best Forex Trading Platform Singapore 2021 - Public Finance International
Best Forex Trading Platform Singapore 2021 - Public Finance International |
- Best Forex Trading Platform Singapore 2021 - Public Finance International
- Best US Forex Brokers 2021 - Public Finance International
- Global Forex Trading Platform Market Landscape and its Growth Prospect By 2025: Millennium Alpha, Reviews.com,LLC, eToro Social Trading, AvaTrade, cTrader – Clark County Blog - Clark County Blog
| Best Forex Trading Platform Singapore 2021 - Public Finance International Posted: 19 Apr 2021 06:18 AM PDT Trading Forex is one of the most popular forms of retail trading. Over the last decade, Singapore has become one of the largest global Forex markets. Forex trading relies on trading one form of currency for another and capitalizing on the difference to earn a profit. For example, a trader may trade Singaporean Dollars for American Dollars (SGD/USD) to earn a profit on the difference between the two. In this article, we checked out some of the most popular Forex brokers available to Singapore traders. We looked at their trading platform, commission and spreads, and other aspects of each broker. If you're still not sure which broker to choose, we put together a useful FAQ and information resource at the end. Best Forex Brokers Singapore 2021Every retail broker offers something different to its clients. We looked at some of the most popular brokers and compared them in terms of customer service, research and educational tools, and commissions. This is our selection:
eToroeToro is one of the most popular retail trading platforms. They provide brokerage to millions of users and facilitate thousands of transactions every hour. Their customer service is among the best in the business. They are regulated by trusted authorities all over the world, so you can rest assured that everything is above board. eToro has access to many tradable instruments including Forex, CFDs, stocks, and commodities. This means traders can easily diversify their portfolios and strategies. 
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. IQ OptionIQ Option first went live in 2013 and since then has grown into one of the most highly regarded brokers worldwide. They are based in Cyprus and regulated by CySEC. Opening an IQ Options account is easy: the minimum deposit to start an account is low and set up is quick. Users have the option to choose a VIP or demo account in addition to the standard account type. 
Plus500Plus500 is one of the most strictly regulated brokers on the market. They started as an online retail broker in Israel in 2008 and have grown globally to be regulated in 9 different regions. Plus500 is technically not a Forex broker, although they offer CFD trading based on underlying Forex pairs. This means traders do not own any currency, instead, they speculate on various currencies' performance. Although the minimum deposit amount is relatively high, Plus500 excels in fees and commission charges. They charge highly competitive rates and don't charge a withdrawal fee. 
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. XTBXTB is a globally-based online Forex and CFD broker with offices in Warsaw and London. XTB offers an impressive 49 currency pairs available to trade. Their Forex trading fees are competitively low. Another point in their favor is the promise of free withdrawals over $100. XTB charges inactivity fees for any account that hasn't traded in a year. Their commission structure is competitive with any other retail broker. They also offer a $0 minimum deposit to open accounts. 
PepperStonePepperStone is regulated by the ASIC in Australia and the FCA in the UK. They are not listed on any stock exchange and are not required to release their financial statements. PepperStone trades over 60 currency pairs in Forex. They also offer a wide variety of CFD options to traders. They have partnered with multiple social trading platforms to allow their users to mimic the trades of high-profit signal providers from different brokers. This is a useful trading strategy for newer traders looking to learn from more experienced users.
HYCMHynep Market (HYCM), was launched in 2007 focusing specifically on bringing trading to markets in Asia. Over the years, they have been awarded several awards for customer service and broker support. HYCM has 70 currency pairs available to trade. Traders using HYCM can trade Forex and CFDs but cannot trade cryptocurrency, stocks, or commodities. The biggest draw for HYCM is the range of services it offers to its traders, both novice and professional. New traders can choose from thousands of high-performance signal providers on the platform.
HotForexHotForex is a European ForEx broker regulated by CySEC in Cyprus. They launched in 2010 and have expanded to multiple regions. HotForex offers competitive fees on 47 different currency pairs. Their website advertises that users have access to stocks and commodities, but users should be aware that these are only available through highly volatile CFDs. They have a variety of commission-free, spread-only accounts as well as the "Zero" account, which charges commission. This is sure to fit any trader's needs and demands from their broker. 
CMC MarketsCMC Markets is a long-standing CFD and Forex broker. They are based in the UK and regulated by the FCA. CMC Markets is listed on the London Stock Exchange so they release yearly financial statements. They are committed to customer service and care. Their help-line is available 24/7, something most brokers cannot compete with. They offer over 300 currency pairs to Forex traders which makes them stand out over other Forex brokers. They also have a range of CFD offerings. 
Saxo MarketsSaxo Markets is a Danish retail broker, a subsidiary of Saxo Bank. It is regulated by various European agencies and has been in operation since 1992. They use a proprietary trading platform called SaxoTraderPro, and a web-based platform called SaxoTraderGo. They offer a wide range of Forex pairs as well as a selection of other trading instruments such as stocks, bonds, ETFs, and futures. 
OandaOanda is a broker that trades entirely in CFDs and Forex. They are regulated by the SEC. It is a private company and is not required to release its financial statements. It offers a range of over 70 different currency pairs for Forex trading, as well as a selection of CFDs based on underlying assets. They offer tight spreads on Forex trading and further sweeten the deal by providing one free deposit and withdrawal from your trading account each month. 
FXPrimusFXPrimus is the brokerage arm of Primus Global Ltd. and began operation in 2009. They are registered in Cyprus and are regulated by CySEC. Traders have access to three different account types, depending on their minimum deposit amount. Higher tier trading account get benefits such as telephonic market updates or consultations with market specialists. FXPrimus has 40 currency pairs available to trade, as well as a selection of equities and stocks. 
IGIG is regulated by the FCA and Germany's BaFin. Today, IG is one of the largest Forex brokers in the world. They are considered highly reliable. Trading with IG gives access to both MT4 and IG's proprietary trading platform. Their design has won them several awards and is one of the most intuitive platforms we've used. It is highly customizable and flexible. They have over 200 currency pairs open for trading and a wide variety of other tradable instruments.
City IndexCity Index is a global Forex and CFD broker that launched in 1983 and is regulated by high-level authorities all over the world. They are a publicly listed subsidiary of GAIN Capital. Their Forex offering is somewhat narrow considering they are such a large and popular broker, offering just over 80 currency pairs. An advantage is that traders have access to cryptocurrency trading. City Index hosts frequent webinars and has lots of platform tutorials to make trading easier. 
Best Forex Trading App SingaporeSo now we've rounded up some of the best Forex Platfroms in Singapore, but which firm stands out above the rest? Every trader's needs are different and eToro is best equipped to cater to the widest variety of traders. They have an excellent limitless demo account that traders can use to test out their trading strategies. Their trading platform is easy to use and well equipped for all levels of traders. A two-step authentication login means that the platform is secure. Open a Free Trading Account with eToro How to pick a Forex Broker?Fees & CommissionsBrokers charge their users a proportional fee for every trade. Platforms such as eToro charge very little for the commission, but they take a proportional cut of each trade. Most of these platforms make money from active traders, they penalize users who do not trade frequently. These are called inactivity fees and are used by most brokers. RegulationThe regulations that each broker must adhere to change depending on where that broker is based. Traders can choose to trade with brokers that are not regulated by the MAS, but they run the risk of not being protected if that broker turns out to be a scam. MAS has set guidelines for the maximum leverage amounts as well as rules regarding segregated client funds. EducationBrokers often have educational tools on their platforms. These can vary from slide shows on market indicators to webinars from experts. Some brokers have resources that are useful to traders at all levels. Others cater specifically to novice users. If you're already experienced with retail trading, try and find a broker that has educational tools that will be useful to you. Risks of Forex TradingLike all forms of trading, Forex carries with it some risk. These come in all forms but could all result in the trader losing money despite their hard work. LeverageLeverage is perhaps one of the most controversial aspects of retail trading. It allows brokers to increase the trader's initial margin to secure a larger position than they would otherwise be able to afford. Many traders appreciate using leverage as it can increase their profits from relatively small capital investment, but it can also increase losses. Using leverage can result in losing more money than your initial margin. VolatilityVolatility is what makes retail trading an equally risky and profitable endeavor. Traders rely on instruments being somewhat volatile for their positions to increase or decrease in value. However, this volatility can also be dangerous. Traders could take a "sure-fire" position expecting it to head in a particular direction only for market conditions to cause a sudden spike. Anyone familiar with the recent GameStop debacle will understand how volatile markets can lead to massive losses. High-riskMany traders are attracted to Forex trading because of its short-term, high-risk, high-reward nature. Forex positions can be held long-term, but it is also common for day-traders to use strategies like scalping to accrue profits from trades over minutes or seconds. Like any short-term, high-reward strategy, there is a considerable amount of risk. Because of the volatility of Forex markets, traders may take on large losses over a short amount of time. Why Trade Forex?LiquidityBecause Forex is one of the most popular markets among retail traders, it has a high level of liquidity. The Bank of International Settlements recently estimated that daily Forex volumes are traded more than $5 billion every day. The high volume means that traders can expect that their trades will be executed quickly since there is almost always another trader looking to take the opposite position. FeesForex is often traded on short-term positions. This is beneficial to traders for multiple reasons. One of these benefits is that fees for shorter trades tend to be lower. Because Forex positions are often not held overnight, Forex traders don't have to pay their broker overnight fees which can start eating into potential earnings. Barrier to EntryTrading is a complex practice that relies on knowledge of interconnected markets to accurately predict the trend of assets. Forex trading largely cuts out the need for in-depth market knowledge by simply trading on currency strength. It is much easier to understand the interplay between the prices of currencies as opposed to the market sentiments that affect the prices of stocks or commodities. Forex Market Hours and Best Time To TradeForex traders are looking to capitalize on fluctuations in currency pairs. There are various strategies that Forex traders can choose from such as swing-trading, scalping, or long-term trading. The best time to trade will depend on which strategy a trader is using. However, the best time, in general, to look for trades is when multiple global markets are open. Every region has its operating times which are dictated by its timezone. For example, if you're looking to trade JPY/USD (Japanese Yen/ US Dollar) pairs, you will need to do some when at least one of these markets is open. If both of the markets are trading, there is a higher level of fluctuation between the two. How Much Do I Need to Start Trading? Every broker will require a different minimum deposit to open an account. Some brokers do not require any deposit to open an account. But traders will still need some capital to open a position. Traders can use leverage to increase the position they can take. The recommended amount needed to start trading is around S$250. Can I Trade Without a Broker? No. Unless you work in the stock exchange, traders need to use a broker to facilitate their trades. Can You Become Rich Trading Forex? Yes. It is possible to make a large amount of money trading Forex, but it is not likely. Recently the EU has required that brokers release data on the number of traders who make profits and losses using their platform. These numbers are not encouraging. Most brokers report that anywhere between 70-85% of traders lose money. A more reliable way to make money is to invest in long-term, diverse portfolios to earn a profit. When does the Forex Market Open In Singapore? The Singapore Forex market is open between 9 am and 5 pm, Monday to Friday. What is CFD Forex Trading? CFD (Contracts for Difference) trading relies on buying or selling contracts based on an underlying instrument. Trading CFDs on Forex means that, without ever technically owning the instrument, traders can speculate on the direction of currency pairs. One of the reasons CFDs are popular is that traders can earn a profit even if the underlying instrument trends downwards, provided they short-sell their contracts.  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Best US Forex Brokers 2021 - Public Finance International Posted: 06 Apr 2021 12:00 AM PDT We have created a complete guide below on trading forex in the US. This covers everything from the best forex brokers for US citizens to the specifics of the foreign exchange market when trading in the States. The foreign exchange market offers plenty of opportunities. It is also an enormous global market that requires proper regulation. If you are keen to dive into the exciting world of forex, then you will need to find the right broker to help you trade. Best US Forex BrokersThe list below is based on a variety of factors like fees, security, regulation, trading platforms and more. This is our selection of the best brokers for Forex Trading in the US.
Forex.comForex.com is a leading broker for high-volume traders. Extensive forex trading can be done thanks to the wide range of currency pairs available. This broker is specifically focused on forex trading, but it is not the best choice for traders wanting to expand their investment portfolio. 
Interactive BrokersBusy day traders love Interactive Brokers. This is largely due to the Trader Workstation desktop platform that offers great tools for enhanced day trading. The fees are low, the speeds are high, and there are some great investment options. This is a versatile trading platform that suits forex traders well due to the wide-ranging currency pairs. 
IGWhen it comes to US forex brokers, IG ticks all the right boxes. The broker is well regulated and offers fantastic tools for trading on the foreign exchange market. There are versatile options for trading and the platform is user-friendly. IG also offers great speeds for quickly closing transactions at real-time market prices.
TD AmeritradeThis versatile US forex broker appeals to all kinds of traders. The online trading platform can be used for all sorts of investments – offering wide market access. Trading is limited to the US, and the broker is particularly good for long-term investing and retirement planning too. 
thinkorswimThinkorswim is a trading platform offered by TD Ameritrade. This is a powerful platform for serious traders thanks to its many tools available. The platform is suitable for all types of forex traders thanks to its excellent research options and educational content on offer. Thinkorswim is an appealing forex trading platform thanks to its many currency pairs available. 
Ally InvestAlly Invest is a great forex broker to use thanks to the easy investing process. The broker offers automated, managed portfolios for investors seeking this help. The platform has no monthly fees, and Ally Invest's self-directed trading is commission-free. Ally is a large online bank, and they offer plenty of helpful financial tools to their customers. 
ATC BrokersThis multi-assets trading platform offers many great features for smart, efficient forex trading. Users can enjoy a demo account, social/copy trading, and excellent research and comparison tools. There are plenty of good currency pairs available for foreign exchange trading. ATC Brokers is an appealing choice for both beginner forex traders and experienced investors due to the research tools and user-friendly platform that is offered. 
OandaThis private company broker is a top choice for forex trading thanks to its many currency pairs available. The research tools are top-notch, with great technical indicators. The API offer is excellent, and the trading platform is easy to use.
NadexForex traders can enjoy low fees and quality tools on the Nadex trading platform. This isn't the first choice for beginner traders, as the platform is quite tricky to navigate. Experienced traders can enjoy a good selection of spread and binary options. Trading is also very speedy. 
FXChoiceThis global online trading platform is one of the best options for efficient forex trading. Active traders get a commission discount, and there is great automated and social trading. FX Choice allows you to trade forex, CFDs, crypto, and commodities on MT4 or MT5. The platform has a wide range of trading tools to suit all kinds of investors. 
How to Pick a Forex Broker?Choosing the best US forex brokers comes down to several factors. Here are some important considerations to make when looking for a forex broker in the USA. RegulationUS forex brokers need to be regulated for safe trading. This is a legal requirement, but it also enhances the safety of the trading platform for investors. In the USA, forex brokers are regulated by the CFTC and NFA. Fees & CommissionsDifferent forex brokers offer different fees and commission structures. This needs to suit your trading strategy. If the fees are too high, traders can lose a significant amount to their broker. Currency Pairs You Can TradeForeign exchange trading is all about currency pairs. These are the two different types of currencies that you will be exchanging. The best forex brokers offer wide-ranging forex pairs for more versatility and wider trading options and greater flexibility. Account TypesThere are various account types for traders to choose between. These include demo accounts, micro accounts, mini accounts, standard accounts, VIP accounts, and more. The account types should match the trader and their experience level. Always see what account types are available from your broker. Order TypesWhen forex trading, there are five different order types to consider. These are market orders, limit entry orders, stop entry, stop loss, and trailing stop orders. Different brokers and trading platforms offer these orders in unique ways. Make sure that this works for your trading strategy. Leverage Available and MarginLeverage is when traders open positions worth more than their capital behind them. Margin is the deposit amount that is needed for opening a position in a trade. Different brokers offer different levels of leverage and margin available. Always consider what you will have to work with before choosing the trader, as this can make up an important part of any forex trading strategy. Account MinimumsThe amount of money needed to open an account and start trading differs between brokers. Make sure that the account minimum is suitable for your available capital and trading requirements. Trading Tools AvailableTrading platforms optimize the experience by offering helpful tools that allow investors to make more informed decisions. Specialized trading tools can help investors to analyze the market and better understand what trades they should make. Research AvailableForex trading relies on traders making informed decisions. This is helped by powerful research facilities that the broker and platform offer. Make sure to consider what research options are available, as this can seriously influence your trading experience. Mobile AppActive traders often rely on mobile apps for fast and easy trading. Not all brokers offer mobile platforms for trading, which can be an essential addition for many traders. Device CompatibilityMake sure that the trading platform offered works with your computer or mobile device. Trading platforms availableDifferent trading platforms are supported by different forex brokers for a more wide-ranging and enhanced trading experience. This commonly includes the different versions of MetaTrader, cTrader, and so on. The broker you choose will need to support platforms that work with your investment strategy. Customer SupportGreat customer support can make all the difference when dealing with US forex brokers. Always look into what kind of support is offered, and what other users have to say about the support. This can make a huge difference when you need it. What is Forex Trading?Trading forex involves the buying and selling of currencies. The foreign exchange market is always changing, with different currency pairs fluctuating in value all the time. Forex trading is when you buy a certain amount of a single currency, and trade for a different currency. The exchange rate determines how much of each currency you can get. Trading Forex In The USATrading forex in the US is legal, but it needs to meet a few requirements. Traders will need to go through US forex brokers who are properly regulated and meet the correct specifics for safe, legal trading. All US forex brokers need to be registered with the Commodity Futures Trading Commission (CFTC) which is the main regulator. The other regulator in the US is the National Futures Association (NFA). ANy broker serving US clients, or operating in the US, needs to abide by the laws they enforce. Forex trading in the US is often done through day trading. This is when a trader starts their day with no currency and closes the day with no open transactions – buying and selling throughout the day. Regular market trading hours in the US are from 9.30 am to 16.00. However, the forex market operates 24 hours a day, 5.5 days a week. Traders buy, sell, or exchange currencies for speculative and hedging reasons. RFEDRetail Foreign Exchange Dealers (RFED) is an entity that works as a counterparty to an OTC, off-exchange forex transaction where the trading doesn't involve any of the exchanges. FIFI RuleAs part of the NFA compliance rules, traders need to follow the First In First Out (FIFO) rule. This is when the earliest trades need to be closed in situations where several open trades on the same currency pairs exist. Dodd-Frank ActForex trading in the US follows laws that mostly fall under the Dodd-Frank Act. This act, passed in 2010, was implemented to enforce stronger regulations on forex trading as a result of the 2007-2008 financial crisis. As a result of the Dodd-Frank Act, there are fewer US forex brokers around, as the laws slowed down much trading. All of the US forex brokers listed below comply with the Dodd-Frank act and all US regulations. FAQWhat is a pip? When exchanging two different currencies, the amount of change in the exchange rate is the pip. What is a lot? When you trade in foreign exchange, the amount of a certain currency you buy is called a lot. Often, this is 100,000 units. What are leverage and margin? Leverage is opening a new position that is worth more than the capital you have backed behind it. Margin is how much you need to deposit for opening a new position in a forex trade. Dealing-desk and agency broker difference A dealing desk broker accepts trades from clients without actually trading in the underlying market. Agency brokers keep the client's best interests in mind when taking transactions from them. Agency brokers have a level of responsibility to act for their client's best needs.  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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