Singapore: banks are worried about online traders

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For a long time, Singapore has been home to the world’s most successful banks and financial institutions. However, there has been a recent cause for desperation which has not been seen since the recession of 2007. Surprisingly, it is not the result of tensions due to the President of the US, Donald Trump, or the potential risk of a new recession to the global economy.

Brexit caused volatile trading conditions and other events which create new opportunities for online traders.

The banks in Singapore are now scared that the online traders will have access to a trading platform which is so advancing that they have been trying to keep it disclosed for many years.

And so, these old bankers who once had so much privilege and power must make room for a new type of millionaire, who is young, working from their laptop or phone while beating the bankers at their very own game.