Which is the best MT5 broker in Singapore?
Verdict
- Pepperstone is our pick for MetaTrader 5 in Singapore: MT5 runs on both Standard and Razor, Razor charges $3.50 per side (SGD 4.55 on an SGD account) on top of a 0.1-pip average EUR/USD spread, and MT5 is one of the platforms for its perpetual CFDs.
- Pepperstone serves Singapore from the Bahamas (SCB, SIA-F217) and holds no MAS licence.
- For a MAS-regulated MT5 account, Phillip Securities offers Phillip MetaTrader 5 with no commission and major FX 'from as low as 0.6 pips', and OANDA also lists MT5.
- XS, our second offshore pick, offers MT5 with an Elite account at a 0.1-pip average plus $6 per lot.
If you are choosing MT5 today, pick the broker whose MT5 account is cheapest for how you trade and which puts its full product range on it. For Singapore residents that is Pepperstone, with Phillip Securities as the MAS-licensed alternative. Details below.
Pepperstone: MT5 on every account
MT5 is available on both Pepperstone account types for Singapore residents, so you can start commission-free on Standard and switch to Razor's raw pricing later without changing platform. The full product list is there, including the perpetual CFDs that Pepperstone offers on MT5, cTrader, TradingView and its own app but not on MT4: for Singapore clients the Bahamas retail table lists gold, Nasdaq 100, S&P 500, WTI and Brent perpetuals. Smart Trader Tools work on MT5, expert advisors are allowed, and the CopyTrading by Pepperstone app connects to MT5 accounts.
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MT5 pricing at Pepperstone, in dollars and Singapore dollars
Razor commission on MT5 is charged per side, so each half of a trade shows its own cost. In a USD account that is $3.50 per standard lot per side; in an SGD account Pepperstone lists SGD 4.55 per side. With a 0.1-pip average on EUR/USD, a one-lot round trip comes to about $8 in a USD account. The Standard account has no commission and averages 1.1 pips, so about $11 a lot. For gold on MT5, Razor commission is $3.50 per side in USD, or AUD 4.50 in an AUD account.
MT5 options for Singapore residents
Phillip Securities and OANDA appear because they are MAS-regulated and list MT5. Phillip's figures are 'from' minimums; OANDA's pricing in our data comes from its BVI site, so we show only its platform line.
| Pepperstone | XS | Phillip Securities | OANDA | |
|---|---|---|---|---|
| Regulator for Singapore clients | SCB, Bahamas; no MAS licence | No MAS licence listed | MAS | MAS |
| MT5 pricing | Razor 0.1 avg + $3.50/side; Standard 1.1 avg | Elite 0.1 avg + $6 per lot | Major FX from 0.6 pips, no commission | Not in our data for Singapore |
| Minimum deposit | $10 | $500 for Elite | No minimum (CFD account) | $0 |
| Other platforms | Own app, MT4, cTrader, TradingView | MT4, XS app | POEMS, Phillip Nova | OANDA web and mobile, TradingView |
MT5 or MT4 at Pepperstone?
- Pick MT5 for perpetual CFDs, which Pepperstone does not list on MT4.
- Pick MT5 if you like seeing commission per side rather than $7 up front.
- Keep MT4 only for older expert advisors that have not been ported.
- Both run on the same Pepperstone account, so you can use each for what it does best.
Sources
Broker pages used for the figures.
What does Pepperstone charge on MT5 in an SGD account?
SGD 4.55 per standard lot per side on Razor, according to Pepperstone's commission table. Standard has no commission.
Can I trade perpetual CFDs on MT5 at Pepperstone?
Yes. Pepperstone lists MT5 among the platforms for perpetual CFDs; MT4 is not on that list.
Is Phillip MT5 cheaper than Pepperstone?
We can't say from published data: Phillip quotes a 'from 0.6 pips' minimum, Pepperstone a 0.1-pip average plus commission. Compare live spreads at the same time of day.
Does Pepperstone have a MAS licence for MT5 clients?
No. Singapore clients on any platform are served by Pepperstone Markets Limited under a Bahamas licence.
CFDs are high-risk leveraged products and you can lose money rapidly. Platform features do not change that risk. This page is for information only and is not investment advice.