Singapore has lowered its leverage cap by more than half. This means forex traders in the country will now have access to leverage of 1:20, as opposed to 1:50 as it was before the changes.
The decision was made by the Monetary Authority of Singapore, however, as with regulatory changes put forward by the European Securities and Markets Authority there are certain loopholes which allow for a more generous leverage under strict conditions.
Аccredited investors in Singapore will have access to the original leverage, however, as in Europe, this would mean meeting strict capital requirements.
Among the requirements is a personal net worth of more than 2 million Singaporean dollars ($1.5 million) or proof of an annual income of more than 300,000 Singaporean dollars. Traders with more than 1 million Singaporean dollars in cash may also qualify for the higher leverage.
The decision was made by the Monetary Authority of Singapore, however, as with regulatory changes put forward by the European Securities and Markets Authority there are certain loopholes which allow for a more generous leverage under strict conditions.
Аccredited investors in Singapore will have access to the original leverage, however, as in Europe, this would mean meeting strict capital requirements.
Among the requirements is a personal net worth of more than 2 million Singaporean dollars ($1.5 million) or proof of an annual income of more than 300,000 Singaporean dollars. Traders with more than 1 million Singaporean dollars in cash may also qualify for the higher leverage.
