Question:
I am looking into investments or courses to take to build portfolio. There are many investment schools teaching about trading, there is one particularly marketing itself as being conducted by a “SGX-accredited speaker”. Do you think this is proof that it is of a certain quality since it is SGX-approved?
DollarsAndSense Answers:
First of all, the Singapore Exchange (SGX) is the entity that administers Singapore’s capital markets, derivatives and other markets. Through its independent RegCo subsidiary, it regulates publicly-listed companies to ensure a healthy, fair and vibrant markets for all participants.
To increase knowledge and interest among retail investors, SGX has an academy that conducts courses on a range of topics, ranging from the entry-level to more advanced courses. To conduct these courses, SGX partners with independent course trainers, full-time traders, and other subject matter experts.
However, SGX does NOT have an accreditation system where it endorses individuals or companies. The term “SGX-accredited speaker” is meaningless, misleading and you should be much more skeptical. If you can’t trust the company to accurately represent their credentials, then can you really trust them with hundreds or thousands of dollars of your money?
For example, SGX might partner with someone to conduct a “How To Read Financial Statements” class. But it does not mean that SGX endorses the person or their expertise in other areas, such as a full-fledged trading system or masterclass on other topics.
If you’re interested in learning to invest, there are plenty of resources on DollarsAndSense, such as this beginners’ guide. Since investing is just one part of your overall financial health, speaking with a trusted financial adviser will also be helpful in determining if you’re adequately insured and how much you can afford to set aside for investing.
Read Also: [Beginners’ Guide] How To Start Investing In Singapore