The latest Investment Trends Singapore CFD & Singapore CFD & FX Report, looked at derivative traders’ attitudes and investing habits based on a large-scale survey of more than 13,000 Singaporean investors.
In-depth analysis of the leading brokers in Singapore has revealed who the best CFD brokers are in terms of key service elements.
The comprehensive report found that an estimated 22,300 Singaporean traders placed at least one trade on either CFDs, FX or both during the year.
IG and CMC Markets, two of the largest forex brokers in the market, were revealed amongst the best brokers. CMC Markets actually received the highest ratings in a number of key areas, reinforcing its position as one of the best CFD brokers currently operating.
Each year, Investment Trends recognises the best performing brokers in a range of categories, based on their client satisfaction ratings. CMC Markets was highest rated for:
- Customer service
- Value for money
- Its mobile platform
- Educational materials
Dr Irene Guiamatsia, Research Director at Investment Trends, revealed that CMC Markets and IG were amongst the top spread betting brokers. She said: “The largest brokers are successfully maintaining their strong position in the market, and they are growing. This is in line with the flight to quality that has been witnessed globally in the aftermath of the Swiss Franc crisis.”
The research revealed that investors and traders in Singapore were highly loyal, with only 7 per cent switching from a top CFD broker to another provider.
“Increasing customer loyalty is the outcome of a combination of factors, and certainly a testament of high client satisfaction levels across the industry,” added Guiamatsia.
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Richard founded the Good Money Guide (previously Good Broker Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.