(20 July 2023 – Asia) Hong Kong (HK) and Singapore fight it out to be crowned the most attractive foreign exchange (FX) trader location ahead of New York, London, Paris and other major FX hubs according to Forex Suggest.
Analysing job postings, wage data and ease of trading/download speed for selected FX trading roles in global markets, Forex Suggest revealed that Singapore narrowly rated ahead of Hong Kong as the number one FX trader country in the world. The city state won out off the back of its status as an investor safe-harbour with a triple-A sovereign credit rating and minimal legal limitations.
“We included the country’s inflation rate and gave each country a forex legality score out of three. Countries scored one if forex trading is banned, two if it is legal with restrictions, and three, if it is fully legal” a Forex Suggest spokesperson commented to CorporateTreasurer,
Within HK and Singapore, which FX providers are winning the fierce battle for Asia Business FX?
East & Partners newly enhanced Hong Kong and Singapore Business FX services, based on direct interviews with 1,864 CFOs and treasurers, delve deeper into competitive positioning dynamics between leading bank and non-bank FX providers. The long running analyses now in their tenth year of continuous reporting deliver strategic insight into rapidly evolving FX customer behaviour in Asia’s major FX hubs.
Source: East & Partners Business FX Singapore & Hong Kong Services (N: 1,864)