Which trading app is best for trading the Nasdaq and US indices?
Verdict
- Pepperstone is our pick for trading the Nasdaq and other US indices from Singapore: its published Razor averages are 1 point on NAS100, 0.4 on US500 and 2 on US30, and index CFDs carry no commission.
- Besides the cash CFDs, NAS100 and US500 also come as perpetual CFDs on Pepperstone's Bahamas retail margin table; perpetuals trade 24/7 and have no expiry.
- Retail leverage on major indices is up to 1:200 under the Bahamas (SCB) licence that serves Singapore; Pepperstone has no MAS licence.
- We hold no verified US-index spreads for XS or the MAS-licensed apps, so we can't rank them on price.
For US index trading the useful numbers are the spread on each index, whether there is a commission on top, and when you can trade. Pepperstone publishes all three. Here they are, with the three contract types you'll see in the app.
Pepperstone: tight US index spreads and no commission
Pepperstone prices index CFDs through the spread only, and its Razor account carries the lower spreads on indices without adding a commission, so for index traders Razor is simply the cheaper account. The app, MT5, cTrader and TradingView (Razor) all carry the same US benchmarks: NAS100 for the Nasdaq 100, US500 for the S&P 500 and US30 for the Dow. The figures below come from Pepperstone's index-fee table, published on its Australian site with August 2026 data; check the same symbols in your app, since the international site may differ.
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US index spreads at Pepperstone
| Index | Razor | Standard | Forward contract, minimum |
|---|---|---|---|
| NAS100 (Nasdaq 100) | 1 / 1 | 1.2 / 1.2 | 3 |
| US500 (S&P 500) | 0.4 / 0.4 | 0.5 / 0.5 | 1 |
| US30 (Dow Jones) | 2 / 2 | 2.3 / 2.3 | 5 |
Cash CFD, forward or perpetual: three ways to hold the Nasdaq
- Cash CFD (NAS100): the tightest spread; you pay or receive overnight financing for each night you hold.
- Forward (NAS100-F): a wider spread (3 points minimum) on a dated contract; usually chosen for longer holds.
- Perpetual CFD (NAS100-PERP, also US500-PERP): no expiry, trades 24/7, and a funding rate that Pepperstone sets weekly in advance and applies daily at 5 pm New York time. Both appear on the Bahamas retail margin table that applies to Singapore clients.
What a trade costs per point
Index spreads are in points, so the money cost depends on your stake. At $1 per point, opening and closing NAS100 on Razor costs about $1 in spread, US500 about 40 cents and US30 about $2. At $10 per point those become $10, $4 and $20. Because there is no commission, that is the whole dealing cost for a trade opened and closed the same day. Margin is separate: at the 1:200 retail maximum, a position worth $20,000 needs $100 of margin, and a 0.5% move against it consumes all of that.
Before you trade US indices from Singapore
- The US cash session falls in Singapore's evening and night; perpetuals let you react outside it, including weekends.
- Your account sits with Pepperstone Markets Limited in the Bahamas; no compensation scheme is named for its clients.
- Retail clients are not liable for negative equity under the entity's terms, but stops are not a price guarantee.
- If you'd rather use a MAS-licensed firm, IG, CMC Markets, Saxo and Plus500 each name a Singapore company with a MAS licence; compare their live index spreads with the table above.
Sources
Published by Pepperstone.
Is there a commission on Nasdaq CFDs at Pepperstone?
No. Pepperstone charges no commission on index CFDs on either account; the cost is the spread.
Can I trade the Nasdaq at the weekend?
Through NAS100-PERP, the perpetual CFD, which Pepperstone says trades 24/7. The cash CFD follows the normal weekday schedule.
What leverage applies to US indices for Singapore clients?
Up to 1:200 on major indices for retail clients under the Bahamas licence; professional clients can reach 1:500.
Which is cheaper for indices, Razor or Standard?
Razor. It has lower index spreads and no index commission, for example 1 point versus 1.2 on NAS100.
Index CFDs are leveraged and can move fast, especially around US data releases; you can lose money quickly. Spreads quoted are broker-published averages and minimums and can change. Not investment advice.