Any individual or company offering financial services in Singapore needs to be either be licensed, exempt or else regulated by MAS.
The best possible way of officially getting financial services in the country is to ensure you deal with those that have MAS regulation.
This is due to the fact that MAS administrative rules and regulations are meant to keep the customers of financial services safe.
MAS does this by ensuring that only competent and professional organization or people offer financial services in the country.
MAS also mandate its brokers to disclose information on the investment products they are marketing to consumers.
When you deal with an individual or forex company not regulated by MAS, you are simply risking your fund and would be unable to get the same protection you’ll get when you trade with under MAS laws.