Which is the lowest fee CFD broker in Singapore?
Verdict
- Pepperstone is the lowest-fee CFD broker for Singapore residents on published averages: a round-turn lot of EUR/USD costs $7 on Razor via cTrader (0.1-pip average plus $6 commission) and $8 on MT5 or TradingView.
- XS's Elite account ties at $7 on the same maths but needs a $500 opening deposit; FP Markets' Raw account works out at $7.10.
- Spread-only claims from MAS-licensed brokers are 'from' minimums, not averages, so they can't be set against an average like for like.
- Beyond the spread, Pepperstone charges no deposit or inactivity fees, though its costs page lists $20 for an international bank-wire withdrawal.
Cheapest depends on what you measure. On the one number most CFD traders pay every day, the round-turn cost of a standard lot of EUR/USD, Pepperstone ties for lowest among brokers that take Singapore clients. The worked figures below use each firm's published averages, then cover the fees that sit outside the spread.
Pepperstone Razor on cTrader: $7 a lot
One standard lot is 100,000 units, so on EUR/USD each pip is worth $10. Pepperstone publishes a Razor average of 0.1 pips ($1) and charges $3.00 per side on cTrader, which brings a full round turn to $7. The same trade on MT5, TradingView or Pepperstone's own platform carries $3.50 per side, so $8. On MT4 the $7 commission is taken once when the position opens. Standard accounts drop the commission and average 1.1 pips, or $11 a lot. If your base currency is SGD, the Razor commission is SGD 4.55 per side.
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Broker cost comparison for Singapore traders
All rows use published average EUR/USD spreads for brokers that accept Singapore residents. None of these three holds a MAS licence; that question is separate from cost.
| Account | Average spread | Commission (round turn) | Total per lot |
|---|---|---|---|
| Pepperstone Razor, cTrader | 0.1 pips ($1) | $6 | $7 |
| Pepperstone Razor, MT5 / TradingView | 0.1 pips ($1) | $7 | $8 |
| Pepperstone Standard | 1.1 pips ($11) | None | $11 |
| XS Elite ($500 minimum) | 0.1 pips ($1) | $6 | $7 |
| FP Markets Raw | 0.11 pips ($1.10) | $6 | $7.10 |
| FP Markets Standard | 1.21 pips ($12.10) | None | $12.10 |
Which CFD broker in Singapore has the tightest spreads?
On raw spread alone, a commission account always looks tighter than a commission-free one, which is why we compare totals. Pepperstone, XS and FP Markets all publish averages around 0.1 pips on their commission accounts. MAS-licensed brokers mostly publish minimums: CMC Markets from 0.5 pips on its standard account and IG from 0.6 points (both on their UK sites), and Phillip Securities from 0.3 pips on POEMS FX CFDs. A minimum shows the best moment, not a typical one, so those figures are not evidence that a broker is cheaper or dearer than Pepperstone's average.
Which broker has the lowest overall trading costs in Singapore?
Spread and commission are most of the bill for active traders, but not all of it. On Pepperstone's international site:
- Deposits are free on every listed method, including cards, PayPal, Skrill, Neteller and bank transfer.
- There is no inactivity or account-keeping fee; accounts under 10 currency units left unused for three months or more may be archived.
- Withdrawals are listed as free, but the costs page mentions a $20 charge for an international bank wire, so use a card or e-wallet where you can.
- Positions held overnight pay or earn financing, which can outweigh the spread on long holds.
- Share CFDs carry their own commission: $0.02 per share on US stocks.
Sources
Published by each broker on its own site.
Which broker has the best spreads overall?
On published averages, Pepperstone Razor, XS Elite and FP Markets Raw all sit near 0.1 pips on EUR/USD. Add commission and Pepperstone on cTrader and XS Elite tie at $7 per round-turn lot, with Pepperstone needing $10 to start against $500 for XS Elite.
Is the Standard account ever cheaper than Razor?
Not on EUR/USD at Pepperstone's published averages: $11 a lot on Standard against $7 to $8 on Razor. Standard suits traders who prefer one all-in spread to a separate commission line.
Does Pepperstone charge to deposit?
No. Every method on its international funding table is listed as free, from cards and Apple Pay to bank transfer and crypto.
Trading CFDs on margin can lose you money quickly, and leverage magnifies losses as well as gains. Pepperstone Markets Limited reports that 80% of retail investor accounts lose money trading CFDs with it. This is general information rather than investment advice, and broker pricing can change without notice.