Singapore has predominantly been a strong economy driven by oil and petroleum exports. However, the economy had understood the need for diversification due to the entry of new competitors. Overall the nation has slow progress to explore global investment products.


Forex market hours

Forex market hours is one of the most important facts of trading forex in Singapore. It is open for 24 hours a day with 5 days a working week having three important sessions. They are the Asian session- Tokyo, US session- New York and the European session- London. There are sometimes when two sessions are open at the same time known as session overlap.

1. London forex market session -
It is the first session of a trading session which is referred to as the European session. It begins at 10 AM Riyadh time ends at 6 PM Riyadh time. It is the most active trading session with great liquidity leverage, which means a huge volume of trading is done in this session. This session also overlaps with the other two sessions.

2. New York forex market session -
It is referred to as the US trading session. It begins at 3 PM Riyadh time and closes by 8 PM or 11 PM Riyadh time. This session has the highest liquidity around 3 PM Riyadh time to 6 PM Riyadh time.

3. Tokyo forex market session -
Being referred to as the Asian trading session, it begins at 11 PM GMT and ends at 8 AM GMT.
Market hours for trading in forex in Singapore provide the traders with flexible trading hours. However, it is advisable to trade during the most liquid hours to make successful trades. Also, some of the most rewarding market times happen when two or more markets are open at the same time. One can concentrate on these aspects while making a trade to ensure profitable trade.

Forex brokers in Singapore

Due to the growth of forex trading in Singapore, the number of forex brokers has increased in Singapore. Not all these brokers are registered. It is imperative that while choosing a broker one should check whether he is registered with the agencies authorized to carry in forex trade. One needs to also keep abreast of how the broker charges them. Some of them recover separate commission or some charge a mark upon the spread.

Also one should trade with a broker who provides good customer service. Proper technical analysis should be provided by the brokers to their customers. Also when the trade volumes are high there is more leverage and thus there are possibilities of making huge profits too.

Making money by forex trades

The number of retail investors has increased due to increasing awareness of the importance of foreign currencies in global economies and their impact on every economy. Thus, now a lot of retail investors are investing in forex markets in SINGAPORE. Traders can pick up a few currencies which are safe rather than the exotic ones in the beginning. Some brokers also offer demo trading facilities to help traders. The traders need to have their opinion about the rise or fall of a particular currency and only then make a buy or sale contract of that currency as against another.

However, one should always bear in mind to invest as much as one can afford to pay. If the market moves in the opposite direction to the opinion of the trader he may make huge losses. There is nothing like stop-loss options or risk minimizing features in forex trading.

Click on the link below to learn more.
https://www.binarytradingsingapore.com/forex-trading-singapore/