Avoid getting burnt by binary option scams

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There seems to be a war against binary options trading of late. At the moment, several Forex and financial regulators either completely banning the trade or, at least, discouraging binary option broker singapore.

In the warning, the MAS warned the public against trading binary options, whether with a regulated or unregulated binary option broker singapore. The statement informed Singapore residents that trading with the instrument could cause huge losses or even a binary option broker singapore loss of their investment. Right now, any trader who suspects fraudulent activities by their broker may binary option broker singapore the police and they shall assist to crack down on the suspected broker.

These are all legitimate reasons, because as we all know, binary options trading, just like trading any other financial instrument carries a huge risk.

Despite being only a binary option broker singapore and not actionable, the action will still have an impact on the industry.

Keep in mind that the MAS has not completely shut down binary options, so the industry is still active. The main impact will be the reduction in new customers signing up with binary options brokers. Binary options have a long history dating back some 40 years when they were introduced as a simpler way to trade commodities. Since the global financial crisis between andthough, binary options suddenly became increasingly popular.

Since then, the industry has grown tremendously and binary option broker singapore almost as popular as the Forex trading industry. Now, with the regulatory war against binary options going, you will see traders shifting to other trading instruments while reducing the number of new customers.

This is exactly what the financial regulators are trying to do. This warning by MAS is only the first shot at the binary options industry, and the next course of action may be the complete ban of the trade. Already, Israel has a bill aimed at banning binary options in the country, one which seems very likely to pass, while Netherlands prohibits advertising binary options.

The war is already on, and we can assume the binary options industry is already bleeding. Some pundits believe that binary options may only be a fad and that the current war against binary options may finally put it down. Stay up binary option broker singapore date with the financial markets everywhere you go.

In a statement by the MAS, they stated that the warning was spurred by: What impact does this have on the industry Despite being only a warning and not actionable, the action will still have an impact on the industry.

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Different from the currencies, such as, U. It monitors the exchange rate and manages to allow the exchange rate to float within a bandwidth. The MAS manages the Singapore dollar against a basket of currencies and the composition of the basket is not disclosed. The disadvantage of the system is that, the intervention operations are carried out on each of the currencies in the basket, thus it is complex. It is also difficult to know whether or not the system is operated appropriately. It is very likely that the Singapore dollar will rise when good news from the economic indicators is released.

Therefore, it is important to pay attention to the economic indicators while trading Singapore dollar. The currencies of emerging countries, such as South Africa and Turkey, are usually featured with high interest rates. However, as one of the emerging countries, the interest rates in Singapore are low.

The important economic indicators are listed above. It is necessary to pay attention to the announcements of important person of the Monetary Authority of Singapore MAS and remarks of the Prime Minister. If there is a remark made by an import person or the Prime Minister on the economic stagnation, it is very likely that the market will fluctuate.

Singapore adopts a currency basket based system and the Singapore dollar is relatively stable even if some currencies fluctuate. Since Singapore dollar is one of the Asian currencies, it is also needed to pay attention to the Chinese yuan, the Korean won, and the Japanese yen as the movements of these currencies may have an impact on the Singapore dollar. When the Chinese yuan is revalued, the Singapore dollar is very likely to rise.

Therefore, it is necessary to look at the Chinese yuan revaluation while trading Singapore dollar. On this website, we will introduce a list of best binary options brokers for Singapore residents. Since the payout rates and trading details of brokers are different from one another, it is better to choose the right broker for your purpose. When you trade the Singapore dollar, it is necessary to pay attention to the fact that, since only about 5 million people are living in Singapore, Singapore is heavily dependent on the imports.

When the world situation is unstable, it cannot be said that the risk of price slump will not happen. As all the necessities of life in Singapore are imported, such as water, food and energy, they can be unstable factors for fluctuations. Singapore is the top economic power in Asia and it has experienced rapid development in recent years.

The investment environment has been enhanced and preferential tax policy has been adopted in various aspects to welcome immigrations and investment from abroad. As a result of favorable investment climate, a lot of rich people have moved to Singapore from all over the world and Singapore is considered as a country with a prosperous future.

Even though the Singapore dollar can be freely convertible, it is a managed currency that various regulations are imposed by the government.

It is thus necessary to pay close attention to the general direction of the Singapore government and political issues while trading. The Singapore dollar is often traded in the foreign exchange margin trading. However, it is not a good choice to hold long term positions as the Singapore dollar is a currency with low interest rates. Keeping in mind of important points and factors, you can seize the opportunity to make profits when you trade Singapore dollar binary options.

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