Pepperstone or CMC Markets, which is better for Singapore traders?
Verdict
- Pepperstone is our pick over CMC Markets for most active Singapore traders: published average costs (EUR/USD 0.1 pips on Razor plus commission), SGD accounts, and five platforms including cTrader and TradingView.
- CMC Markets has the regulatory edge: it runs a MAS-licensed Singapore company, while Pepperstone serves Singapore from the Bahamas without a MAS licence.
- CMC lists no minimum deposit and offers guaranteed stop-loss orders on its UK site, with the fee refunded if the stop isn't triggered.
- CMC's platform line-up in our data is narrower: its Next Generation platform, mobile app and MT4.
CMC Markets is one of the few CFD brokers with a licensed company in Singapore; Pepperstone serves the city from its international site. That single difference shapes most of the comparison, but not all of it. On platforms and published costs Pepperstone pulls ahead, and the details below show by how much.
Our verdict for Singapore traders
For a trader who wants several platforms on one account and transparent average pricing, Pepperstone is the better fit: MT4, MT5, cTrader, TradingView and its own app, with Razor averaging 0.1 pips on EUR/USD plus commission. CMC Markets suits a trader who wants a MAS-regulated Singapore company and guaranteed stops, and is happy on CMC's own platform or MT4. Neither broker publishes a swap-free account for Singapore residents.
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Regulation: CMC has the local licence
CMC Markets lists CMC Markets Singapore as regulated by the Monetary Authority of Singapore, though the licence number is not printed on the page we cite. Pepperstone has no Singapore company; residents deal with Pepperstone Markets Limited, licensed by the Securities Commission of The Bahamas (SIA-F217). For you that means CMC's complaints and conduct rules sit under MAS, while Pepperstone's sit under the Bahamas entity's terms, with no compensation scheme named.
Side-by-side terms
CMC's spread and stop-loss terms are from its UK site.
| Pepperstone | CMC Markets | |
|---|---|---|
| Singapore regulation | None; Bahamas SCB | MAS (CMC Markets Singapore) |
| Minimum deposit | $10 | $0 |
| EUR/USD | Razor 0.1 pips avg + $3.50/side; Standard 1.1 avg | Standard from 0.5 pips; FX Active from 0.0 + 0.0025% per transaction |
| Platforms | MT4, MT5, cTrader, TradingView, own app | Next Generation, mobile app, MT4 |
| Guaranteed stop-loss | Not published | Yes; fee refunded in full if not triggered |
| Swap-free account | Not for Singapore residents | None published |
| Withdrawals | Free on listed methods; cards up to 2 business days | No charge for card or standard bank withdrawals |
Platforms: one CMC platform or five at Pepperstone
CMC's Next Generation is its proprietary web platform, backed by a mobile app and MT4 (including WebTrader). Pepperstone adds MT5, cTrader and TradingView to its own app and MT4. If you already code expert advisors for MT5, build cBots in cTrader, or chart on TradingView, Pepperstone is the only one of the two that supports them in our data.
Which one to pick
- Pick CMC Markets if a MAS-licensed company and guaranteed stops are non-negotiable.
- Pick Pepperstone if you want cTrader, MT5 or TradingView, an SGD base account and published average spreads.
- Either way, compare live spreads on your main markets for a week before moving size.
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Sources
Both brokers' pages.
Is CMC Markets regulated in Singapore?
Yes. CMC Markets Singapore is regulated by MAS; CMC's page does not print the licence number.
Does CMC Markets offer MT5?
Not in our data. CMC lists its Next Generation platform, a mobile app and MT4.
Which has the lower minimum deposit?
CMC Markets lists no minimum; Pepperstone's is $10 or the local equivalent.
Leveraged CFDs carry a high risk of rapid losses at any broker. Pepperstone Markets Limited states that 80% of retail investor accounts lose money trading CFDs with it. Terms quoted are broker-published and may change; this comparison is not investment advice.