Frequently asked questions about Singapore
Are crypto trading tournaments available to Singapore residents?
Yes — but only through MAS-licensed exchanges (Coinhako, Independent Reserve, Crypto.com Singapore) for spot products. MAS restricts crypto-derivatives access for retail investors, so leveraged tournament events from offshore exchanges are typically not eligible for Singapore-resident accounts.
Can I enter US prop firm evaluations from Singapore?
Most US prop firms (Topstep, Apex Trader Funding, FTMO, FundedNext) accept Singapore residents. Eligibility is set by each firm's individual terms; verify against the firm's current jurisdiction list before paying for an evaluation.
How are tournament prizes taxed in Singapore?
Singapore does not tax most one-off windfalls for non-professional traders. Repeated, systematic tournament income could be classified as trade income and assessable. For amounts above modest thresholds or recurring contest winnings, consult a Singapore tax advisor.
What's the InvestSG Trading Tournament?
An annual April competition for Singapore equity traders, with around S$6,000 in total prize pool. Considered the most established domestic equities contest. SGX-listed instruments only.
Do MAS-licensed exchanges run tournaments?
Yes, periodically. Coinhako, Independent Reserve and Crypto.com Singapore have run trader contests historically, though scale is smaller than offshore-exchange events because retail derivatives are gated.
