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December 17th, 2014, 8:49 am | By trader | Published in LUNCH IS FOR WIMPS | Comments on this postComments Off

It has since been a turbulent year for the industry with the first eight months of 2014 bringing a number of challenges for clients and providers alike of CFD and forex trading services. The lack of volatility across a diverse asset classes has been censured for a protracted period of consolidation for a number of businesses

Singapore, which is one of the richest countries in the world was not been exempted to this trend as a massive survey by Australian research organisation Investment Trends reveal. While the survey was conducted, before the increase in FX volatility came to the marketplace, the results are revealed diminishing appetite of Singaporean traders towards FX in past recent years.

Based on the survey, which was reviewed by Forex Magnates, there were 20,200 investors that have traded FX and/or CFDs in the region throughout the 12 months up to September of 2014. While this represents a yearly decline of 8 % when scaled down 17,000 (flat year-on-year) of those traded CFDs while 13,000 traded forex were down 13 % year-on-year respectively.

While the CFDs markets in the country have finally since gained control following years of steady declines, peaking out at 23,000 traders in three years ago, the same cannot be accounted about forex trading. The trend there is a continuing decline from 29,000 in 2010 during the first year the survey commenced.

Philip Futures Leading Forex OANDA and CFD Brokers Market Share Charts

Based on the survey of 10,000 respondents, Phillip Futures is regarded as the most popular choice for CFD traders at just below 25 %, with IIG Markets tailing behind the second spot at around 17 % followed by City Index and CMC Markets close behind third and fourth (just below 14 % each) respectively.

The recently acquired GAIN capital by City Index has been at the vanguard of the growing and steady business activity throughout the past four years while a relative newcomer to the CFD market OANDA commenced from zero in 2012 and has achieved 5 % market share in the CFDs trading arena correspondingly.

On the forex trading front, the control position of IG Markets last year has been heavily challenged by OANDA which has grown its market share by close to 6 % over the past year and is now being provided with its foreign exchange trading services to just unde18 % of traders in Singapore.

Although IG consolidated its position when compared to last year, which held just above 15 % of the market, it was CMC Markets that expanded its position this year surpassing Phillip Futures for the third spot.

IG, OANDA and CMC Markets are leading the way in customer satisfaction rates with customer providing them positive ratings with OANDA at 92 % while IG and CMC Markets get the consent of 86 % of their clients.

Commendable Mobile Trading Statistics in Singapore

Singapore still remains an advance hub and its population is quite perceptive in participating in accelerating technology adoption trends. Based on the data gathered by Investment Trends, 88 % of present traders are utilising mobile platforms in relation to their CFDs or forex trading activities which is 6 % higher than that of last year and 24 % higher as compared in 2012.

Inquisitively, while Android platform-based devises have overtaken iOS in the country for the first time, it could only be a short term development only as the sales rate of the sixth-gen Apple iPhone has thrust Apple’s stock to all time highs.

Traders from Singapore are paving the way in global charts representing mobile device usage for trading leveraged financial products with the U.K. and the U.S. for the third and second spot.

Singapore remains a challenging marketplace with the tough regulatory framework in the country handled by the Monetary Authority of Singapore has been demanding on brokers who are apt in settling in the country. Moreover, with the solid financial focal point in the region, it can serve as a regional hub for brokers targeting the rewarding Far East market.

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