Singapore FOREX Market

Presented by
Pradeep bandi
Roll no 02

History

The Singapore dollar was pegged to the British pound sterling at a rate of
S$60 = 7 until the early 1970s.
Then to the US Dollar for a short period of time.
Moved towards pegging its currency against a fixed and undisclosed tradeweighted basket of currencies from 1973 to 1985.
From 1985 onwards, the Singapore Dollar has floated within an undisclosed
bandwidth, closely monitored by the Monetary Authority of Singapore (MAS)
to guard against imported inflation and ensure that Singapore's exports
remain competitive.

Features

Lower trading cost

High liquidity

You will just need computer or mobile with internet access.

24 hours a day(mon-fri).

Singapore is a multi-racial and multi-lingual society that welcomes foreign

visitors.

Only a small margin is needed to purchase a contract of a much higher

value.

The country is a financial hub in the region; has many world-class banks,
brokers and wealth-managers.
Strong regulatory regime in place to regulate brokers and protect forex
traders.
Strong regulation exists to protect money belong to individuals and
enterprises.

Size of market

Foreign exchange turnover was US$291 bn, a 2.96% increased compared to

oct 2013.
It has emerged as the largest FX center in Asia.
3rd largest FX center in world after united kingdom and united states.
Foreign exchange reserves of Singapore as of sep 2014 is 266142 millions of
US$ according to BIS survey.

Trading procedure
Opening a online forex brokerage account

Research different brokerages.

Request information about opening an account.
Fill out the appropriate paperwork.
Activate your account.

Start trading

Analyze the market.

Determine your margin.

Place your order.

Watch your profit and loss.

Settlement procedure

Continuous Linked Settlement (CLS).

Clearing and Payment Services Pte Ltd (CAPS).

Interbank GIRO.

Credit transfers.

E-Banking.

Conclusion
Singapore is best place in Asia to learn forex trading, forex trading is best way
to earn money, procedure to open a account is very easy, for trading you need
a computer or phone with internet access, Just you have to updated with daily
news , and have good knowledge of analyzing.