Who is the best CFD broker in Singapore?
Verdict
- Pepperstone is our top pick for CFD trading from Singapore: a $10 minimum, SGD base-currency accounts, a published Razor average of 0.1 pips on EUR/USD plus commission, and MT4, MT5, cTrader, TradingView and its own app on one account.
- The trade-off is regulation: Singapore residents are served by Pepperstone Markets Limited, licensed in the Bahamas by the SCB (SIA-F217), and Pepperstone holds no MAS licence.
- If a MAS-licensed firm is a must, IG, CMC Markets, OANDA, Saxo and FOREX.com each name a Singapore company holding a MAS capital markets services licence.
- XS is our second choice: its Elite account ties Pepperstone's cTrader cost on EUR/USD but needs $500 to open. Capital.com does not accept Singapore residents.
Among the brokers we track that accept Singapore residents, Pepperstone ties for the lowest published EUR/USD cost and offers the widest platform choice. It does not offer a local licence, and for some traders that outweighs any spread. Both sides, and the alternatives, are below.
Why Pepperstone gets our vote for Singapore CFD traders
Four things decide most CFD accounts, and Pepperstone publishes a clear answer on each. Cost: Razor averages 0.1 pips on EUR/USD plus $3.50 commission per side on MT5 and TradingView, or $3.00 on cTrader; Standard averages 1.1 pips with no commission. Funding: hold the account in Singapore dollars and start with $10 or the local equivalent. Range: its account tables count 93 FX pairs, 26 indices, 40 commodities, 1,162 share CFDs, 95 ETFs and 31 crypto CFDs. Platforms: Razor runs on MT4, MT5, cTrader, TradingView and Pepperstone's own web platform and app. Under the international entity's terms, retail clients are not liable for a negative balance.
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What you give up: no MAS licence
Pepperstone has no Singapore website. Its own language tags send Singapore visitors to pepperstone.com/en, run by Pepperstone Markets Limited (company 177174 B, Nassau, The Bahamas) under Securities Commission of The Bahamas licence SIA-F217. A search of the MAS Financial Institutions Directory returns no result for Pepperstone. In practice:
- No investor compensation scheme is named for clients of the Bahamas entity.
- Retail leverage reaches 1:200 on FX, gold and major indices, far above the 1:30 cap on major FX that Pepperstone applies to retail clients in the UK and Australia.
- Pepperstone publishes no Singapore-specific eligibility statement, so confirm in the sign-up form that Singapore residence is accepted.
CFD broker comparison for Singapore traders
Pepperstone and XS accept Singapore residents through offshore companies. CMC Markets stands in here for the MAS-licensed route; its headline spreads are 'from' figures, not averages, so read the cost row with that in mind.
| Pepperstone | XS | CMC Markets | |
|---|---|---|---|
| Singapore licence | None; Bahamas SCB SIA-F217 | None listed on its regulation page | MAS (CMC Markets Singapore) |
| Minimum deposit | $10 | $500 for the Elite account | $0 |
| EUR/USD cost | Razor 0.1 pips avg + $3.50/side; Standard 1.1 pips avg | Elite 0.1 pips avg + $6 round turn | From 0.5 pips Standard; from 0.0 plus commission on FX Active (UK pages) |
| Platforms | MT4, MT5, cTrader, TradingView, own app | MT4, MT5, XS app | Next Generation, mobile app, MT4 |
| SGD account | Yes | No (USD, EUR, JPY) | Not in our data |
| Guaranteed stop-loss | Not offered | Not in our data | Yes on UK pages; fee refunded if not triggered |
What is the best CFD trading platform in Singapore?
If you mean the software rather than the company, it depends on how you trade, and a Pepperstone Razor account lets you move between all the main options without changing broker:
- TradingView: chart and place orders from the same screen (Razor accounts only).
- cTrader: the cheapest Razor commission on FX at $3.00 per side, plus C# bots through cTrader Automate.
- MT4 or MT5: expert advisors, plus Pepperstone's Smart Trader Tools add-ons.
- Pepperstone's own web platform and app: available on Standard and Razor alike.
Four checks before you fund a CFD account
- Read the client agreement and note the company you contract with and its regulator.
- Decide whether MAS supervision is a requirement for you; if it is, Pepperstone and XS are off the list.
- Size positions as if the limit were far lower than 1:200; the ceiling is not a target.
- Make a small deposit and withdrawal before trading size; Pepperstone lists card withdrawals within 2 business days.
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Sources
Terms as each broker or regulator publishes them.
Is Pepperstone regulated by MAS?
No. Singapore residents deal with Pepperstone Markets Limited, licensed by the Securities Commission of The Bahamas (SIA-F217). The MAS directory returns no result for Pepperstone.
Can I use Capital.com from Singapore?
No. Capital.com lists Singapore among the countries it does not accept, which is why XS takes second place on this page.
How much leverage does a Singapore retail client get at Pepperstone?
Up to 1:200 on FX, gold and major indices, and 1:20 on shares and BTC/USD, under the Bahamas entity. Losses scale just as quickly as gains at those levels.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Pepperstone's international site, which serves Singapore residents, states that 80% of retail investor accounts lose money when trading CFDs with this provider. Nothing here is investment advice; confirm every term on the broker's own site before you open an account.