Binary options trading is now very popular all over the globe but one of the countries where binary trading has recently exploded is Singapore. There are hundreds of binary options brokers that accept Singapore traders, which is both a good thing and a bad thing. The good thing about this is that traders can choose from a large selection of service providers.
The bad thing is that a lot of these brokers are scams and offer fraudulent and fake services. The main thing to always look at is to make sure that the broker you sign up is regulated and licensed.
Below these lines you will see a toplist of Singapore binary options brokers that are both regulated and offer very high quality services. The best brokers among these are 24Option and Stockpair. OneTwoTrade is also starting to become a significant force on the market. If you happened to read some other of my articles on my website then you will notice that I always recommend that traders only register at binary options brokers that have a valid license issued in their home country or in another jurisdiction.
This is important because if a broker is licensed then it means that it only offers safe and fair online trading services. A licensed broker will never scam anyone or conduct any shady practices because the government is supervising it and any wrongdoing will have serious consequences.
Now, the issue with some countries, such as Singapore is the fact that it does not directly regulate and license binary options. This means that unlicensed and unregulated brokers can also offer their binary options services in Singapore. For these cases there is a good solution that can overcome this problem. The solution is to choose a Singapore binary options broker that is licensed in another jurisdiction.
There are many kinds of licenses that binary brokers can receive. Somewhere above I said that binary brokers cannot get a direct license in Singapore so why should it be relevant if they have licenses elsewhere? If the FCA in the UK licenses a broker, then that broker cannot just offer safe services in the UK and then scam everyone else from other countries.
And this is actually not just a matter of opinion or interpretation. So, a UK licensed binary options broker will treat any of their clients, including from Singapore, as if they would be from the UK.
They are not allowed according to the law to treat UK traders one way and Singapore binary options traders differently. The huge problem is that only a limited number of brokers have such licenses while most have no licenses at all.
And since Singapore does not have specific binary options laws and does not offer binary trading licenses, the shady brokers are also technically allowed to access the country. And this is where the list that I created comes into play. I specifically set out to only list binary options brokers for Singapore traders that have the above-mentioned licenses.
The listed brokers either have one of the mentioned licenses or all of them together. So, now we got the legal part sorted. To summarize everything, the idea is that you as a binary options trader from Singapore need a broker that is licensed elsewhere but it has to be in a reputable country, preferably in the United Kingdom.
But there are other criteria you should be looking at when deciding what broker to choose. Once you have selected a legal Singapore binary options broker you will have to look at issues such as minimum deposit, payout rate, types of binary options offered and any extra services. This is important because this way you will be able to test the broker out without having to commit too much money right from the beginning. Then, another important issue is that of the payout rate.
A high payout rate means that on each winning trade you will earn more money. After this, you should also check the types of options available.
This is important because these exotic types of options usually offer higher payouts. Once you become more experienced you can make killer money with these. A new trend is to offer long-term options as well and you as a Singapore trader should profit from these to the max. Long-term options have long expiration times such as several days or weeks and can be combined with news trading.
So, lets wrap this up by pointing out again that there are probably several hundred binary options brokers in Singapore at this moment. The good thing is that there are brokers that are licensed in other countries such as the UK, and other European Union countries.
These brokers offer safe trading conditions for Singapore traders as well. Always trade at such brokers only. NEVER trade at a broker that does not have any license. Once you have a shortlist of licensed brokers, then move on to evaluate them using the criteria I have shown above, such as payout rate, minimum deposit and types of options.
Sign up at the broker that offers the best trading conditions. Below you will find a list of binary options brokers in Singapore that I personally believe are the best in the business. And that would be all for this article. I hope I could help you decide which binary options broker to choose if you are from Singapore.
Remember what I said above, only the regulated brokers are safe. If you stick to the ones listed above then your assets will always be safe and you will always be offered only high quality services. Find out what other traders have to say and complain about this broker. In this article I will talk about binary options brokers that accept PayPal for deposits and withdrawals.
Learn which binary brokers offer PayPal for their traders. In this article I will talk about the binary options laws and regulations in Italy and about how to find the best Italian binary options brokers that are licensed and regulated in the country. Broker licenses — European Union, United Kingdom, Cyprus There are many kinds of licenses that binary brokers can receive. But how is this relevant for binary options brokers in Singapore? So, where to sign up? Other criteria for choosing a binary broker So, now we got the legal part sorted.
Final Words and Broker Recommendations So, lets wrap this up by pointing out again that there are probably several hundred binary options brokers in Singapore at this moment. Be the First to Comment! Notify of new replies to this comment.More...