Hello From Singapore

teojh

Active member
173 29
Hi all

Im also from Singapore. has been researching for more than a year and now trading live for the past 3 weeks.
This is a great forum, that i just had to create an account to view all those topics that i wanted to read up. (y)
 

teojh

Active member
173 29
i wonder if you know who are the biggest traders here and how big are they?
 

lucksa

Junior member
22 0
Hi All,

I am a novice trader in Singapore just learning how to trade forex. Now traing on demo account and also testing the auto-trading Expert Advisor on my other demo account. Hope to meet like minded friends here and share trading experiences and knowledge on Expert Advisor programming technique.

Cheers!
John
 

wowpravin

Junior member
15 0
Hello all,

I am new to Singapore, just shifted from UK. I have spread betting accounts with UK companies which I used to trade. I want to know whether spread betting is legal in Singapore? I just heard that online gambling is illegal in Singapore, does spread betting come under preview of gambling.

Thanks,
Pravin
 

lucksa

Junior member
22 0
Hello all,

I am new to Singapore, just shifted from UK. I have spread betting accounts with UK companies which I used to trade. I want to know whether spread betting is legal in Singapore? I just heard that online gambling is illegal in Singapore, does spread betting come under preview of gambling.

Thanks,
Pravin


not sure about spread betting as I never heard of it in SIngapore.... may I know how does it work?
 

teojh

Active member
173 29
not sure about spread betting as I never heard of it in SIngapore.... may I know how does it work?

its just a different name in singapore. for instance if u trade here at igmarkets , they call everything cfds. over in uk, mainly stocks are also under cfds, while all the other commoditites, indices, forex are under spread betting.
And the main difference actually is that in spread betting you can choose the amount u want to bet on a single point move. in sg, they usually classify an instrument under a normal size or micro or mini contract. there's less flexibility.

the local igmarkets, cmc markets, cityindex asia are actually spreading betting companies in the uk.
just go to their uk sites to understand more.
 
Last edited:

lucksa

Junior member
22 0
its just a different name in singapore. for instance if u trade here at igmarkets , they call everything cfds. over in uk, mainly stocks are also under cfds, while all the other commoditites, indices, forex are under spread betting.
And the main difference actually is that in spread betting you can choose the amount u want to bet on a single point move. in sg, they usually classify an instrument under a normal size or micro or mini contract. there's less flexibility.

the local igmarkets, cmc markets, cityindex asia are actually spreading betting companies in the uk.
just go to their uk sites to understand more.

Thanks Teojh, Since you know it in Singapore quite well, I supposed it is already legalise here
 

wowpravin

Junior member
15 0
Thanks Teojh. I did using spread betting in UK, but CFDs are new to me. Have opened up a demo account with CityIndex to get grips with CFDs. Spread betting was quite easy, just bet as much u want per point and that's it.

Teojh, out of the companies you mentioned, with whom do you trade? If so how is your experience with them.

I am also looking for a someone who allows me to automate the trading in indices like ftse dow jones. Since it is late night in Singapore when US markets work, it is better to leave a program to trade. If any one knows, please do post. I only seem to find automated trading in forex, but not in indices.

Thanks,
Pravin
 

wowpravin

Junior member
15 0
not sure about spread betting as I never heard of it in SIngapore.... may I know how does it work?
Hi,

In spread betting, you don't deal with contracts. You bet an amount per point, and your profit or loss is indicated by how many points the market goes up or down. For e.g, If the dealer offers you bid-ask spread in FTSE as 4200-4205. And if you feel that FTSE will go up, then you place a buy trade with 1 pound per point at 4205. For every point up, you win 1 pound or lose 1 pound for every move down. The pounds you place every point can range from minimum 1 to 100. The same can be done in short-selling.

This is a brief explanation, for more you can go here -
Online Spread Betting | Spread Betting Explained

regards,
Pravin
 

teojh

Active member
173 29
i use phillipfutures.
don't recommend them. For instance now the server is down again. You'll have to call in to make trades. Its the only broker that charges commission for mini contracts. the spread is wide. even the majors can be more than 10 sometimes more than 20 quite often. if eur/usd is 4 pips and remains like that for sometime you should be very happy.

only advantages are their lower age requirement of 18 to open an account. There's also free sms alert. (Igmarkets told me they have this free service too, not sure about the rest.) If you are trading futures as well, i occasionally do so, its still quite alright. They use jtrader, but there is no free charting available.

Singapore Forex (FX) Forum | Currency Trading | Forex Traders - Home has some info as well, i browse thru once in awhile.
 

lucksa

Junior member
22 0
Hi,

In spread betting, you don't deal with contracts. You bet an amount per point, and your profit or loss is indicated by how many points the market goes up or down. For e.g, If the dealer offers you bid-ask spread in FTSE as 4200-4205. And if you feel that FTSE will go up, then you place a buy trade with 1 pound per point at 4205. For every point up, you win 1 pound or lose 1 pound for every move down. The pounds you place every point can range from minimum 1 to 100. The same can be done in short-selling.

This is a brief explanation, for more you can go here -
Online Spread Betting | Spread Betting Explained

regards,
Pravin
Thanks for your explaination.
Regarding spread betting in SIngapore, may be you can ask Teojh, I think he is more experience in strock related trading. Myself is a novie in forex trading, still working on demo account. My ultimate aim is to trade by using Expert Advisor, the auto-trading program. That is why now I am developing my strategya and learning how to code the EA. Hopefully within this year I can successfully launch my first profitable EA.
 

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