The Starting Point: Three Questions That Needed Answers
The trader began with three specific questions: Is the platform registered with MAS? What does it cost to trade and withdraw? And what happens if something goes wrong? These three questions, rather than a general feature assessment, drove the entire evaluation. That focus made the process faster and more useful than a typical top-to-bottom review read-through.
The MAS Verification Step
The first action was a search on mas.gov.sg — both the register and the Investor Alert List. The trader noted the result of that search, including whether the platform appeared under a named legal entity with a Singapore address. That result informed how much weight to give the platform's own marketing claims in subsequent steps. If the MAS step turns up no listing either way, the appropriate response is to ask the platform directly and request the licence number if one is claimed.
Fee Mapping Against a Real Trade Scenario
Rather than reading the fee schedule in the abstract, the trader mapped the stated fees against a specific scenario: a single trade of a fixed size, held for three days, then withdrawn in full. Adding up the spread cost, the overnight financing charge for three days, and the withdrawal fee gave a total cost figure for that scenario. Comparing that figure against the potential return on the trade made it clear whether the fee structure was compatible with the intended trading approach.
The Documentation Habit
Before registering, the trader downloaded and saved the current version of the terms and conditions, the fee schedule, and the promotional terms that had been advertised. Each document was saved with the date. This took under ten minutes and created a complete record of the conditions at registration. The trader reported that this step alone — which most traders skip — changed how confident they felt going into the registration process.