How do you check if a company is regulated by MAS?

As the world's fourth largest financial center, Singapore, where loose policies, good financial environment, so that many foreign exchange brokers have chosen to land in Singapore.

The Monetary Authority of Singapore, referred to as "MAS", was established in 1971. Unlike regulators in many countries, the MAS has a dual role, one as a central bank and the other as a regulator of the financial sector.

The biggest feature of MAS supervision is that it can closely follow the needs of Singapore's financial development and implement different regulatory concepts at different stages. Before the financial crisis in 1998, MAS advocated a high degree of legal system and was known for its strictness. After financial globalization, the concept of MAS also changed from "control" to "supervision". From the implementation of compliance supervision to focus on risk supervision and indirect supervision. This also makes Singapore's financial sector development has been in the forefront of the world.

How can I check if a broker is licensed by MAS?

The detailed steps are as below:

1. Find the licensed/reference no.(preferred) or name of the forex broker, which you can get from the broker's website; 

2. Enter the reference no. or name into the search bar on https://eservices.mas.gov.sg/fid;

Note:

If you can't find the broker's profile on MAS wesbite, it's probably an unauthorised broker and please keep away of it.

3. And you'll get the broker's contents on MAS website. At this time you need go through the 'License Type/Status' and check if the broker has the authorization to provide 'Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading' under 'Dealing in Capital Markets Products';

4. If all the steps above have been done, don't forget to check the most important information: check if the broker contact details published on MAS website matches the ones you'll go to trade with, especially the website and email etc. 

If no, please keep away the broker because it's probably an unauthorized firm and your money will fall in danger.