Which is the best MT4 broker in Singapore?
Verdict
- Pepperstone is our pick for MetaTrader 4 in Singapore: MT4 runs on both its Standard and Razor accounts, Razor costs $7 commission per lot charged once at opening on top of a 0.1-pip average EUR/USD spread, and its Smart Trader Tools add extra MT4 apps.
- Expert advisors, MetaTrader Signals and Pepperstone's CopyTrading app all work with MT4, and eligible or Pro clients get a free VPS.
- Pepperstone has no MAS licence; Singapore clients are served by its Bahamas entity (SCB, SIA-F217). CMC Markets offers MT4 from a MAS-regulated Singapore business.
- XS, our second choice, runs MT4 too, with an Elite account at a 0.1-pip average plus $6 per lot and a $500 minimum.
MT4 is the same software at every broker; what differs is the price feed, the commission model and the extras around it. On those, Pepperstone is our first choice for Singapore residents. Below: how its MT4 pricing works, the tools it adds, and the MAS-licensed option if you need one.
Pepperstone: MT4 on both accounts, with add-ons
Some brokers restrict MT4 to one account type; Pepperstone's international site offers it on Standard and Razor alike. On top of the plain platform, Pepperstone supplies Smart Trader Tools, a package of MT4 and MT5 add-ons including Trade Terminal, Correlation Matrix, Mini Terminal and Smart Lines (Pepperstone gives both '28' and '60+' as the size of the package on different pages). Expert advisors are allowed, a free VPS is offered to eligible and Pro clients, and the CopyTrading by Pepperstone app connects to MT4 accounts if you want to follow other traders. Minimum funding is $10 or your local equivalent, in SGD if you prefer.
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How MT4 commission works at Pepperstone
MT4 is the one Pepperstone platform where Razor commission is charged in a single go: $7 per standard lot when the position opens, rather than $3.50 on each side as on MT5. The total is the same, but your balance shows the full commission immediately. A worked example on EUR/USD, one lot, USD account:
- Razor on MT4: 0.1-pip average spread ($1) + $7 commission at opening = about $8 round trip.
- Standard on MT4: 1.1-pip average spread, no commission = about $11.
- Half a lot halves both: about $4 on Razor and $5.50 on Standard.
MT4 brokers for Singapore residents compared
CMC Markets is included as the MAS-licensed MT4 option. Its spreads are published as 'from' minimums on its UK site, not averages, so the cost rows are not like for like.
| Pepperstone | XS | CMC Markets | |
|---|---|---|---|
| Regulator for Singapore clients | SCB, Bahamas; no MAS licence | No MAS licence listed | MAS (Singapore business named; licence number not printed) |
| MT4 accounts | Standard and Razor | Yes | Yes, including WebTrader |
| EUR/USD pricing | Razor 0.1 avg + $7 per lot; Standard 1.1 avg | Elite 0.1 avg + $6 per lot | From 0.5 pips standard; from 0.0 plus commission on FX Active (UK site) |
| Minimum deposit | $10 | $500 for Elite | $0 |
| SGD account | Yes | No | Not in our data |
Should you still choose MT4 over MT5?
Choose MT4 if you already own expert advisors or indicators written for it; they will not run on MT5 without being rewritten. Otherwise MT5 is the better default at Pepperstone: it charges commission per side, and it is one of the platforms Pepperstone lists for its perpetual CFDs, which MT4 is not. A Pepperstone account lets you hold both, so you can keep old robots on MT4 while trading manually on MT5.
Sources
Platform and pricing pages.
Is MT4 available on Pepperstone's Standard account?
Yes. On the international site that serves Singapore, both Standard and Razor support MT4.
Why does my Pepperstone MT4 balance drop by $7 when I open a trade?
On MT4 the Razor commission for both sides, $7 per lot, is charged when the position opens.
Can I run expert advisors on Pepperstone MT4?
Yes. Pepperstone supports algorithmic trading and EAs on MT4 and MT5, and offers a free VPS to eligible and Pro clients.
Is there a MAS-licensed MT4 broker?
CMC Markets offers MT4 and names a MAS-regulated Singapore business. Pepperstone and XS do not hold MAS licences.
MetaTrader makes leveraged trading easy, including automated trading, and losses can build quickly. Pepperstone's international site states that 80% of retail investor accounts lose money with it. Not investment advice.