Forex Brokers from Singapore

To Fajri,

“Can Indonesian people use forex brokers from Singapore?”

Yes. There are no regulations prohibiting Indonesian people from trading with foreign forex brokers owned by overseas entities. As long as the broker in question does not implement regulations prohibiting clients or traders from certain countries (in this case, Indonesia) from joining the broker, you are allowed to trade with that broker.

“If possible, please provide information about Singaporean forex brokers”

We apologize in advance, we are not very familiar with which forex brokers are genuinely originally from Singapore. As an alternative option, you might try other bonafide forex brokers that have a Monetary Authority of Singapore (MAS) license and also have branch offices in Singapore such as OANDA or Saxo Bank. Or you can also see which brokers are recommended for forex trading in Singapore.

Hopefully this can help.

Is Samtrade FX officially registered in Singapore? Is there any regulatory guarantee?

To Johnsen,

As quoted from its official website, Samtrade FX is a forex broker originating from Saint Vincent and the Grenadines. This broker claims to be licensed by the regulatory bodies FSA (SVG), ASIC (Australia), and also FINTRAC (Canada). Although it has been licensed by various official regulatory bodies, the popularity of this broker seems to be less prominent among Indonesian traders. Regarding whether this broker has obtained official legality from the regulatory body in Singapore, we apologize that we are not very knowledgeable about it.

Hopefully this can help.

Is this the same status as offshore brokers in Indonesia? They have their own official regulations, but are not registered in countries with many customers.

Since July 2, 2021, samtrade FX has been included in the Investor Alert List of the Monetary Authority of Singapore (MAS). Please exercise caution when investing your money.