Which trading app has the lowest fees in Singapore?
Verdict
- Pepperstone's app carries the lowest all-in fees we can verify for Singapore residents: a round-turn lot of EUR/USD costs about $8 on a Razor account in the app (0.1-pip published average plus $3.50 commission per side), with free deposits and no inactivity fee.
- Move the same Razor account to cTrader and the lot drops to $7, because cTrader commission is $3.00 per side on forex.
- XS's Elite account reaches the same $7 but needs $500 to open, and XS reserves the right to charge up to 3% on withdrawals where there has been no trading activity.
- Pepperstone is regulated for Singapore clients in the Bahamas (SCB, SIA-F217), not by MAS; cheap is not the same as locally licensed.
Fees in a trading app come from five places: the spread, commission, funding, withdrawals and idle-account charges. Pepperstone publishes all five and is lowest on the combination we can check. The numbers, and the cheaper or pricier corners, are below.
Pepperstone's app: the lowest total we can verify
On a Razor account Pepperstone publishes a 0.1-pip average on EUR/USD. One standard lot (100,000 units) is worth $10 a pip, so the spread costs about $1, and the in-app commission of $3.50 per side adds $7: roughly $8 for the round trip. The Standard account skips commission and averages 1.1 pips, which is about $11 a lot. Pay in by card, Apple Pay, Google Pay, PayPal, Neteller or Skrill and Pepperstone's international table lists the deposit as free; there is no inactivity or account-keeping fee either. If you fund in Singapore dollars, Razor commission is charged as SGD 4.55 per side instead of the dollar figure.
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Every fee line, not just the spread
XS is the only other firm in our data that both accepts Singapore residents and publishes an average EUR/USD spread with commission. Here is how the full fee picture compares.
| Fee | Pepperstone | XS |
|---|---|---|
| EUR/USD, one lot round trip | $8 Razor in the app or MT5; $7 on cTrader; about $11 Standard | $7 on the Elite account (0.1-pip average + $6 commission) |
| Minimum to open the cheapest account | $10 | $500 (Elite) |
| Deposit fees | None listed | No internal fees, per XS |
| Withdrawal fees | Free, except $20 for an international bank wire | No internal fees, but up to 3% where there was no trading activity or XS identifies abuse |
| Inactivity fee | None | Not in our data |
| SGD account | Yes | No |
Why a zero-commission headline can cost more
Several Singapore-licensed firms advertise spread-only pricing. Phillip Securities, which is regulated by MAS, says FX CFD spreads on POEMS start from as low as 0.3 pips with no commission, and its MT5 offer starts from 0.6 pips on major pairs. Those are minimums, the best price seen, while Pepperstone and XS publish averages. A 'from 0.3' and an 'average 0.1 plus commission' cannot be set side by side honestly without the broker's average, so ask any spread-only app for its average EUR/USD spread before you compare totals. If a MAS licence is non-negotiable, Phillip is one of the few local firms in our data that publishes forex pricing at all.
Fees beyond forex in the Pepperstone app
- Index CFDs: no commission; the cost is in the spread.
- Hong Kong share CFDs: 0.2% per side on Pepperstone's international accounts page.
- US share CFDs: $0.02 per share per side on Pepperstone's UK and Australian fee pages; confirm the rate shown in your app.
- Crypto CFDs: no commission on Pepperstone's published crypto spread table.
Sources
Fee pages published by each broker.
Is trading in the Pepperstone app cheaper than on MT5?
It costs the same: Razor commission is $3.50 per side on both. cTrader is the cheaper Pepperstone platform for forex at $3.00 per side.
Does Pepperstone charge to withdraw to a Singapore bank?
Its international withdrawal table lists bank transfers as free, taking up to 7 business days, while its costs page lists $20 for an international bank wire. Ask which applies to your bank before you withdraw.
Is there a fee if I stop trading for a few months?
Pepperstone charges no inactivity fee. Accounts under 10 currency units and unused for 3+ months may be archived.
Which app is cheapest for small trades?
Pepperstone, on what we can verify: $10 opens an account, and a 0.01-lot EUR/USD trade on Razor costs about 8 cents all in.
Trading leveraged CFDs is high risk and you can lose money quickly. Low fees do not reduce market risk. Nothing on this page is investment advice; check each broker's live fee schedule before you trade.