Binary Options in Singapore
Singapore, though often overlooked, is among the fastest growing economies in the world. Whether in insurance, tourism, manufacturing or the service sector, there is a lot of money in Singapore. Binary options is not quite as popular in Singapore as it is in the other Asian countries. This is however not due to any negative reviews or anything else other than the fact that Singaporeans only became aware of binary options about two years ago. With that being said, a few significant steps have been made in making people aware of the potential returns and convenience of binary options. The Monetary Authority of Singapore is the body responsible for regulating all financial institutions, including brokerage firms.
Binary Options in India
India has quite a big population, some of whom reside in almost every corner of the world. Traditionally, India is a trading country and its citizens are known for their entrepreneurial spirit. They do not just trade in tangible goods alone; the Indian Securities Exchange is the oldest in Asia and among the oldest in the world. Although, binary options may have been only recently introduced, the concept of asset trading has been around for centuries.
It is legal to trade in binary options in India, which is not known to have very tough laws. Binary options, and all financial services are under the supervision of the Securities and Exchange Board of India (SEBI). The body gives out licenses to brokerage firms intending to set up shop in India and monitors them to ensure that they stick to the rules. There are currently no Indian-based binary options brokers although many European brokers accept Indian brokers, provided their government has no problem with that. When it comes to the trading language, only one broker, One Two Trade has an Indian version of their site. Hopefully, this will change soon as brokers everywhere realize the amazing potential of the Asian market and India in particular.
Even the older traders can learn new things with binary options
Binary Options in Malaysia
Malaysia has not been left behind by the binary options bandwagon. Investors and even ordinary people in the country are warming up to binary options trading as a platform for channeling their investments. Binary options is legal in Malaysia and all activities are supervised and regulated by the Securities Commission of Malaysia, which operates under Bank Negara Malaysia, which oversees all financial services.
We did not come across any broker based in Malaysia but found quite a number of firms operating from other countries accepting Malaysian traders. That is, if they understand English since there’s no site translated into Malay, the country’s national language. Chinese / Mandarin speakers are quite lucky as there is a trading platform in their national language, as mentioned earlier.
Binary Options in Indonesia and the Philippines
The Indonesian and Philippines governments have no issues with binary options although some might consider the taxes on returns to be a bit high. There are no particular binary options regulation bodies that we know of, except maybe the Central Banks of the two countries, which are normally in charge of the whole financial sector. As such, we advise traders based in these two countries to look for brokers regulated in the EU, preferably by CySEC to be assured of quality service and reliability.