Singapore is well-known for its highly developed banking system, and the country is home to many low spread forex brokers and other types of financial services firms. All forex brokers operating out of Singapore are regulated by the Monetary Authority of Singapore (MAS), which is also the country’s central bank.
A low spread forex broker in Singapore could be a good option for EU-based traders and others looking for brokers that offer somewhat higher leverage than what is available in their home countries. In addition to serving overseas traders, brokers in Singapore also cater to a large number of local Singaporean forex traders. Because of the strong competition between the various brokers in Singapore, commissions and spreads are often low and trading leverage is high.