The Singapore Dollar (SGD) is freely traded in the foreign exchange market, and retail forex trading in Singapore is legal. Partly because of this trade and diversity in economic function is Singapore a good place for Forex trading or investment.
This is a healthy economy with global links and reach. Singapore’s economy boasts high trade in machinery and transport equipment, and chemical products, and diversifies to vegetable oils, wax and fats, animals, and food manufacturing. Retail forex traders in Singapore also trade tax-free, another benefit for local traders. They include convenient market trading hours, high liquidity, an abundance of trading pairs to choose from, and the availability of margin in the form of leverage to improve your chances of recording sizable gains in a volatile market. Over the past few decades, Singaporeans have also learned the many benefits of forex trading. With a highly educated citizenry and a population of nearly five and a half million, this small but impressive country sports a lively forex trading community of over 50,000 active retail forex traders. Nearly 70% of the local population also regards itself as belonging to the middle class, a sign of affluence and a burgeoning mentality for investment and trading activities. It is, therefore, no surprise that Singapore is the third-largest foreign exchange centre in the world, behind London and New York.
It is the only country in Asia presently with a “AAA” credit rating, and its GDP per Capita has consistently ranked in the Top Ten for this statistic. Open a Forex demo account Why start trading forex in SingaporeĪs an acknowledged centre for international trade, Singapore’s financial success has been a miracle in the region. Forex trading, however, involves high risk, which can provide many profit opportunities, but only if you have prepared in advance by practising using a broker’s demo system and have developed a step-by-step trading strategy to approach this market in a disciplined fashion.
If you are a newcomer to forex trading in Singapore, please read on and learn how easy it is to get started, who the primary regulator is for this activity, and why forex trading can benefit you. An island country located below Malaysia, it has become a powerhouse in international trade, a leader in innovative technologies, and a haven for global investment. The Republic of Singapore has been a fantastic success story, rising from the ashes of WWII to become a major financial hub in Southeast Asia.
0 kommentar(er)
