What is the best trading app in Singapore for MT5?
Verdict
- For MT5 in Singapore, our pick is the MetaTrader 5 app connected to a Pepperstone account: MT5 is offered on both Standard and Razor, and Razor costs a published 0.1-pip EUR/USD average plus $3.50 commission per side.
- Pepperstone adds Smart Trader Tools for MT5 and allows expert advisors, with a free VPS for eligible and Pro clients.
- Singapore accounts sit with Pepperstone Markets Limited (Bahamas, SCB SIA-F217); Pepperstone has no MAS licence.
- XS also offers MT5; MAS-licensed MT5 options include OANDA and Phillip Securities' Phillip MT5.
MT5 is one app made by MetaQuotes; what changes from broker to broker is the account you log in to. So the real question is which broker's MT5 account is best for a Singapore trader. On published costs and add-ons, Pepperstone's is, with the licensing caveat covered below.
Pepperstone's MT5 account: costs and extras
Pepperstone offers MT5 on both of its accounts. On Razor, EUR/USD averages 0.1 pips and commission is $3.50 per side, so a round-turn standard lot costs $8 on published averages; on Standard, the 1.1-pip average is the whole cost, or $11. Pepperstone allows expert advisors on MetaTrader, supplies its Smart Trader Tools add-ons (Trade Terminal, Mini Terminal, Correlation Matrix and others), and offers a free VPS to eligible and Pro clients so automated strategies keep running when your computer is off.
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Which trading app supports MetaTrader accounts?
The official MetaTrader 4 and MetaTrader 5 apps do; you download one, search for your broker's server, and log in with the account number the broker gives you. Some brokers also build MetaTrader access into their own apps. Among brokers in our data that serve Singapore residents, these offer MetaTrader accounts:
- Pepperstone: MT4 and MT5 on Standard and Razor.
- XS: MT4 and MT5.
- OANDA: MT5 (no MT4 in our data).
- Phillip Securities: Phillip MT5, with major FX pairs from 0.6 pips and no commission.
- CMC Markets: MT4 only in our data.
- IG: MT4 and MT5 on its UK list.
MT5 costs side by side
Only Pepperstone and XS publish average EUR/USD spreads in our data; the others give 'from' figures, which are minimums.
| Broker and account | EUR/USD | Commission | Singapore licence |
|---|---|---|---|
| Pepperstone Razor | 0.1 pips average | $3.50 per side | None; Bahamas SCB |
| Pepperstone Standard | 1.1 pips average | None | None; Bahamas SCB |
| XS Elite | 0.1 pips average | $6 round turn; $500 minimum | None listed |
| Phillip MT5 | Major pairs from 0.6 pips | None | MAS (Phillip Securities) |
| OANDA | From 1.0 pip, or 0.1 plus commission | Core commission not in our data | MAS (OANDA Asia Pacific) |
Before you install MT5
- Open the account first; MT5 needs a login and server name from the broker.
- Choose the account type before you choose the app: Razor for commission pricing, Standard for spread-only.
- If you plan to run expert advisors, check whether you qualify for Pepperstone's free VPS.
- Test MT5 on a small position so you see the commission line on the trade before scaling up.
Sources
Pages behind the costs and features above.
Is MT5 cheaper than MT4 at Pepperstone?
The total is the same on Razor: $7 commission per round-turn lot. MT4 takes it in one charge when the position opens; MT5 splits it into $3.50 per side.
Can I run expert advisors on Pepperstone's MT5 from Singapore?
Yes. Pepperstone allows algorithmic trading and EAs on MT4 and MT5, and offers a free VPS to eligible and Pro clients.
Is Phillip MT5 regulated by MAS?
Phillip MT5 is a platform of Phillip Securities Pte Ltd, which says it is regulated by the Monetary Authority of Singapore.
CFDs and forex on margin are complex and can lose you money fast, whatever platform you use. Pepperstone Markets Limited reports that 80% of retail investor accounts lose money trading CFDs with it. We publish broker-stated terms; this is not investment advice.