The Best Prop Firm in Singapore for 2026

Does a foreign prop firm need a MAS licence to operate in Singapore?

Singapore's Securities and Futures Act requires a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore for firms that carry on a regulated activity -- dealing in capital markets products, leveraged foreign-exchange trading, or fund management -- as a business for clients. The defining threshold is intermediation: holding client money, dealing in regulated products for clients, or soliciting Singapore retail investors.

FundedFast does not cross that threshold. It is a Malta-based proprietary trading firm selling a simulated evaluation: no client funds are held, no live trading is executed on anyone's behalf, and no regulated product is offered. Payouts are a profit share from FundedFast's own capital based on simulated performance. The model sits outside the CMS licensing perimeter, so FundedFast is not MAS-licensed, does not need to be for this activity, and makes no claim of MAS authorisation or endorsement.

This is general information, not legal advice. MAS has not published guidance specific to simulated-evaluation prop firms. Consult a local legal advisor before purchasing a challenge.

Are FundedFast payouts taxable for a Singapore tax resident?

Singapore is unusually favourable here. It taxes on a largely territorial basis and has no capital gains tax, and IRAS confirms that foreign-sourced income received by an individual resident -- including funds deposited into a Singapore bank account -- is generally not taxable, provided it is not received through a Singapore partnership. FundedFast payouts come from a Malta-registered company, so for most residents receiving them as a personal activity they fall within that foreign-source exemption.

The key caveat is the trade-or-business test. If IRAS assesses your trading as a trade or business -- weighing transaction frequency, holding period, profit-seeking motive, and how organised the activity is -- the profits become taxable as ordinary income at progressive rates from 0% up to 24% on chargeable income above SGD 1,000,000 (from YA2024). The distinction is fact-specific and no single factor decides it. The November 2025 IRAS guidance on foreign-sourced gains under Section 10L applies to companies, not individuals.

This is general information, not tax advice. Whether your activity is investment or a trade is fact-specific. Consult an IRAS-registered tax adviser before filing.

How do FundedFast payouts reach traders in Singapore?

FundedFast pays in USD or EUR via crypto (USDT/USDC), SWIFT bank transfer, or PayPal -- weekly, typically processed within 24-48 hours of a valid request. Singapore's infrastructure handles all three with little friction: DBS, OCBC, and UOB accept inward SWIFT transfers in USD and EUR to multi-currency accounts, and Singapore has one of the world's most developed licensed crypto ecosystems, with MAS-licensed Major Payment Institutions such as Coinbase Singapore and Circle for converting USDT or USDC to SGD.

PayNow handles instant SGD transfers once funds are converted but does not receive foreign currency directly; a multi-currency service such as Wise is a practical bridge for receiving USD and forwarding to a local account. Receiving foreign payouts into a Singapore bank account carries no tax on the receipt itself under the individual foreign-source exemption above.