FinanceMagnates
Authorities in Singapore will block access to Octa and XM, two brokers offering forex and contracts for differences (CFDs), for providing services to residents of the city-state without holding a local licence.Access to the two platforms will be blocked from 20 June, local media Channel News Asia reported today (Friday).“Consumers with active accounts with Octa and XM will not be able to access their websites through Internet Access Service Providers based in Singapore,” a joint news release from the police and the Monetary Authority of Singapore (MAS) stated.You may also like: XM Owner Is Buying Controlling Stake in a Cyprus BankTrading Platforms Must Have a Local LicenceThe Singaporean authorities highlighted that the two platforms breached the local Securities and Futures Act (SFA) by not holding a licence…
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Singapore to Block Access to Octa and XM for Unlicensed Operations
Arnab Shome
06:26
Authorities in Singapore will block access to Octa and XM, two brokers offering forex and contracts for differences (CFDs), for providing services to residents of the city-state without holding a local licence.Access to the two platforms will be blocked from 20 June, local media Channel News Asia reported today (Friday).“Consumers with active accounts with Octa
