Last year’s Bank of International Settlements data on global FX trading made pleasant reading for Singapore, showing that the island state had grown its market share by 30% from in 2015.
However, research firm Investment Trends highlights the complexity of the country’s retail market in its 2016 ‘Singapore CFD and FX report’. It found that an estimated 22,300 individuals placed at least one FX trade last year — down from 24,500 in 2015, with almost half of all previously active traders not placing a single trade during 2016 — yet the number of new brokers increased over the same period.
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