Singapore Binary Options Brokers
Singapore Binary Options Brokers
Ever since the creation of the Singapore dollar in 1967, many investors prefer to trade using this type of currency on the financial markets. The Singapore government supported this universal preference by backing up the currency with assets. Its central bank, the Monetary Authority of Singapore (MAS), monitors the national currency and its dependency on inflation, import and export, meaning that binary options trade entails constant monitoring of those factors.
The MAS takes immediate measures to counteract any fluctuations in inflation and maintain market stability, offering ample opportunities for risk averse, inexperienced traders. Singapore’s financial market is ideal for investment and binary options, in particular, although MAS is not yet ready to regulate binary options brokers as theirs is the fastest growing niche in the online trading industry.
The most promising binary options brokers currently operating on the Singapore market and especially suited for trade in Singapore currency are, among others, Top Option, MarketsKing, Opteck and XP Markets, all of which are regulated by Cyprus Securities and Exchange Commision and therefore licensed to trade in the EU. As the binary options trade is relatively new in the industry, most companies are not yet regulated, so it’s best for new traders to invest their money through brokers authorized by CySEC.
A more detailed list of the binary options brokers currently operating under CySEC regulation is provided by BinaryOptions, along with tips on features to look out for as you search for the best broker in Singapore. Matters such as transparency, ease of transaction, variety of contract types and quality of customer service should be taken into account by anyone looking to use binary options trading tools.
TopOption, for instance, uses the SpotOption platform, offers payouts of up to 85 per cent and requires a minimum deposit of $100. With a rich portfolio of tools and trading products, features such as ProPotion, 60 Seconds, Binary Builder, One Touch, Stock Pair, Trader’s Choice, buy-out option, history graphs, and up to 180 assets on offer, TopOption is a leading binary options broker.
The SpotOption user-friendly platform is compatible with most browsers and can even be used on a SmartPhone using mobile functionality. Additionally, TopOption supports multiple languages and offers customer services in various languages, so that trading through this broker is a breeze for even the inexperienced trader.
Depending on the sum invested, you may be given a bonus of up to $2,500 representing a fixed percentage number, as an incentive to begin trading on TopOption. Among the many organisations that regulate TopOption’s activity, FSA, CySEC, CNB, NBS, MFSA and AMF are the most relevant, and their authorisations offer traders maximum protection against illegal activity, making TopOption the safest broker to date.
XP Markets
By comparison, XP markets, on the other hand, is a newer broker which uses the Tradologic platform and deals in equities, Forex, indices etc. The platform offers returns of up to 81 per cent on Touch, Digital and Range trade, its interface is remarkably user-friendly, and is web-based for immediate access across the globe, just like SpotOption.
Their bonus scheme may go up to 150 per cent on first deposits, depending on the amount. A broker with similar status, MarketsKing is The Cedar Finance’s British branch founded in 2012 using the SpotOption platform. It supports English, French, German and Italian, it requires a minimum trade of amount of $5, a deposit of $100 and it accepts traders from the USA.
A company that offers toll free customer service to traders in Singapore is 24Option, a broker with its own trading platform. TradeRush deals in Singapore Straits Times indices, Redwood boasts an impressive array of assets, including stocks, indices, commodities, Forex pairs, among which the Singapore Dollar.
PowerOptions & ZoneOptions
PowerOption is remarkable for its round the clock customer support via telephone and Live Chat with real-time suggestions as you trade with assets from various countries, including Singapore. Zone Options guarantees your first trade, refunding investments of up to $50 for any new account holders that are nationals of several countries, among which Singapore.
OptionBit & EZTrader
For companies with promising growth trends, look for OptionBit and EZtrader. EZTrader is the fastest growing binary options broker in Singapore, with payouts of up to 95 per cent, personal advice, free e-course, cash bonus, welcome gifts, and professional assistance. OptionBit is the binary options market leader for Singapore, which offers free access to the Algobit signals-trading tool, with real-time information concerning optimum market opportunities and accurate trade suggestions.
Global Option
The novice trader will appreciate Global Option, who brings an individualised approach to learning, with one-on-one training sessions in addition to high payouts and generous cash bonuses.
As can be seen, Singaporeans have a selection of binary options brokers to choose from, yet none of them have Malay translations for their websites. There are some who have Mandarin translations on their platforms. Fortunately, virtually all of them have English platforms, meaning that most Singapore nationals will be able to use them.
In Summary
Returning to TopOption. we believe they are head and shoulders above all other brokers due to their bonus packs, their asset portfolio, trading tools, deposit and withdrawal procedures and customer service.
Depending on the type of customer, TopOption will offer an account opening bonus of up to $5,000, ranging from 25 per cent to 50 per cent, spot trends, trader preference tools, eBooks and video tutorials, up to 180 assets, including the Singapore Straits Times index, a multilingual platform, a TopOption academy, payments and withdrawals in foreign currency, and various trade options, such as 60 second, One Touch, Call/Pull and OptionBuilder. Additionally, they have an international toll-free number, a prompt customer service desk and a live chat tab on the homepage to support customers from all over the world.