Which forex broker has the best reviews?
Verdict
- We do not rank brokers by review scores, so we cannot name the one with the best reviews; on published facts, Pepperstone is our top pick for Singapore residents.
- Review platforms count different things and mix opinions with experiences; read the content of reviews, not the star average.
- Pepperstone's own pages give two client figures, over 830,000 and over 900,000 traders, a sign that even broker-stated numbers need checking.
- For Singapore residents Pepperstone operates through Pepperstone Markets Limited (SCB Bahamas, SIA-F217), with no MAS licence.
Star ratings make a tempting shortcut, but they mix beginners' losses, service complaints and promotional reviews in one number. We publish verifiable broker terms instead, and on those Pepperstone comes out ahead.
Why Pepperstone leads on what can be checked
Reviews tell you how people felt; published terms tell you what you will get. Pepperstone publishes an average EUR/USD spread of 0.1 pips on Razor (plus USD 3.50 per side) and 1.1 pips on Standard, a USD 10 minimum, an SGD account, free deposits, and retail negative-balance protection. Those are the points to hold reviews against: cost, access to your money and the risk of losing more than you deposited.
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How to read a forex broker's reviews
- Filter for reviews from your country: a UK or Australian client deals with a different company and regulator from a Singapore resident.
- Read the one- and two-star reviews and sort them: withdrawal delays and blocked accounts matter more than losing trades.
- Check whether the broker answers complaints and how.
- Discount reviews that mention bonuses or a named account manager urging bigger deposits.
- Compare what reviewers say with the broker's written terms.
Facts that matter more than stars
| Common complaint | Pepperstone | XS |
|---|---|---|
| Slow withdrawals | Cards up to 2 business days; e-wallets up to 1; bank transfer up to 7 | Neteller instant; Skrill 1 business day; bank 1-7 working days; cards 7-10 |
| Hidden fees | No inactivity fee; USD 20 on international wires | No internal fees; up to 3% fee possible where there was no trading or abuse |
| Losing more than deposited | Retail negative-balance protection | Not in our data |
| Who regulates my account | SCB Bahamas (SIA-F217) | Entity not specified |
Brokers with a Singapore licence
If reviews from Singapore clients under local regulation matter to you, look at firms with a MAS-licensed Singapore company: eToro Singapore (CMS101824), Plus500SG (CMS100648), IG Asia, Saxo, CMC Markets Singapore, OANDA and StoneX. Capital.com does not accept Singapore residents.
Sources
Terms used in place of review scores.
Why don't you publish star ratings?
Because we only publish facts we can source from the broker or a regulator. Ratings mix opinions we cannot verify.
Are broker reviews reliable?
Some are. Look for detailed accounts of withdrawals and support from clients in your country, and ignore reviews tied to bonuses.
How many clients does Pepperstone have?
Its UK accounts page gives two figures: over 900,000 traders (as at 1 March 2026) and over 830,000 traders. We quote both because they disagree.
CFDs and forex are complex, leveraged products with a high risk of losing money rapidly. Good reviews do not change that risk. This page is not investment advice.