In this review, we’ll take a closer look at FXCM Singapore and its offerings to help you make an informed decision.
The Best Fx Brokers in Singapore
Regulation and Safety
One of the most important factors to consider when choosing a forex broker is regulation and safety. FXCM Singapore is regulated by the Monetary Authority of Singapore (MAS), which is the country’s central bank and financial regulatory authority. MAS has strict regulations in place to protect traders’ funds and ensure that forex brokers operate in a fair and transparent manner.
FXCM Singapore is also a member of the Singapore Exchange (SGX), which further enhances its credibility and safety. SGX is one of the leading exchanges in Asia and is known for its strict regulatory framework and high standards.
Trading Platforms
FXCM Singapore offers a range of trading platforms, including the popular MetaTrader 4 (MT4) platform and the proprietary Trading Station platform. MT4 is a powerful platform that offers advanced charting and analysis tools, as well as the ability to automate your trading strategies. Trading Station is a comprehensive platform that includes advanced charting, custom indicators, and a range of order types.
Mobile Trading
If you prefer to trade on the go, FXCM Singapore also offers mobile trading apps for both iOS and Android devices. The apps are designed to provide a seamless trading experience, with advanced charting and analysis tools, as well as the ability to place trades and manage your account from anywhere.
Trading Instruments
FXCM Singapore offers a range of trading instruments, including forex, commodities, indices, and cryptocurrencies. The forex offerings are particularly extensive, with over 40 currency pairs available for trading. This allows traders to diversify their portfolios and take advantage of a range of market opportunities.
Account Types
FXCM Singapore offers two main account types: Standard and Active Trader. The Standard account is suitable for most traders and requires a minimum deposit of $50. The Active Trader account is designed for high-volume traders and requires a minimum deposit of $25,000. The Active Trader account offers lower spreads and commissions, as well as dedicated support from a team of experts.
Education and Support
FXCM Singapore provides a range of educational resources to help traders improve their skills and knowledge. These include webinars, video tutorials, and a range of trading guides and articles. The broker also provides 24/5 customer support via phone, email, and live chat, as well as a dedicated support team for Active Trader account holders.
Fees and Spreads
FXCM Singapore offers competitive spreads and commissions, with typical spreads starting from 0.2 pips for major currency pairs. The broker also charges a commission of $0.04 per 1k lot for forex trades. There are no fees for deposits or withdrawals, although there may be fees associated with certain payment methods.
Conclusion
Overall, FXCM Singapore is a reliable and trustworthy forex broker that offers a range of features and services to help traders achieve their financial goals. The broker is regulated by the MAS and is a member of the SGX, which enhances its credibility and safety. FXCM Singapore offers a range of trading platforms, mobile trading apps, and trading instruments, as well as competitive fees and spreads. The broker also provides a range of educational resources and customer support to help traders improve their skills and knowledge.
FXCM Review FAQs
Does FXCM have Singapore office?
Yes, FXCM has a Singapore office. FXCM Singapore is a subsidiary of FXCM Group, LLC, and is located at 15 Beach Road, #03-01 Beach Centre, Singapore 189677. The office is regulated by the Monetary Authority of Singapore (MAS) and provides support and services for traders in Singapore and the Asia-Pacific region.
What is FXCM margin in Singapore?
The margin requirements for FXCM Singapore vary depending on the trading instrument and the account type. For forex trading on the Standard account, the margin requirement is typically 3.33% or leverage of 30:1 for major currency pairs, and up to 20% or leverage of 5:1 for exotic currency pairs. The margin requirements for the Active Trader account are lower, with leverage of up to 400:1 available for forex trading.
For other trading instruments, such as commodities, indices, and cryptocurrencies, the margin requirements vary depending on the specific instrument and market conditions. FXCM Singapore provides detailed information on its margin requirements for each instrument on its website, and traders can also contact customer support for more information. It’s important to note that trading on margin carries a high level of risk, and traders should carefully consider their risk tolerance and trading objectives before using leverage.
What is FXCM Singapore open time?
FXCM Singapore provides 24-hour trading services for most of the trading instruments offered, including forex, commodities, and indices. The market hours for forex trading are from Sunday at 5 pm Eastern Time (ET) to Friday at 5 pm ET, which is equivalent to Monday at 6 am Singapore Time (SGT) to Saturday at 6 am SGT. However, trading hours may vary depending on the specific instrument and market conditions, and there may be times when trading is closed due to public holidays or other events.
No reviews yet
