The Securities and Futures Act and Financial Advisers Act put together provide an integrated regulatory framework that provides us with the set of rules that govern financial market businesses. Singapore forex licenses are issued by regulatory body of Singapore named MAS (Monetary Authority of Singapore). MAS supervises financial companies and forex brokers strictly in Singapore. MAS registered forex brokers follow guidelines on stringent risk management practices.
You need license if you intend to any of the following businesses
- Forex Trading
- Securities Trading Services
- Securities Financing Services
- Leveraged Trading Services
- Asset Management Services
- Securities Custodial Services
- Fund Management Etc.
They cover credit, market, liquidity, operational, technology and insurance business-related risks, internal controls and the role of an institution’s Board of Directors MAS always assess the adequacy of financial institutions' risk management systems and controls. Before being a MAS approved forex broker, MAS regulatory framework should be understood well.
Monetary Authority of Singapore is central bank of Singapore and they also control monetary policy. This MAS regulatory framework looks like Forex License in India and money transactions should be done carefully. Forex License UK is an alternative of Singapore forex license and better for money transactions but Singapore is always good as financial hub of Far East. Also MAS regulatory requirements is easier than Forex License UK.