What is the total cost of a round turn trade?
Verdict
- At Pepperstone, our pick, one round-turn standard lot of EUR/USD costs about US$8 on Razor via MT5 (0.1 pips average spread plus US$7 commission), US$7 on cTrader, and US$11 on the commission-free Standard account.
- The formula: spread cost + commission on the way in + commission on the way out + overnight financing for every night held.
- In an SGD Razor account, commission is SGD 4.55 per side, so SGD 9.10 per round-turn lot, plus the spread.
- Singapore residents trade with Pepperstone Markets Limited, licensed in the Bahamas (SIA-F217); Pepperstone has no MAS licence.
A round turn is one complete trade: open and close. Brokers quote commission per side and spreads as averages, so the total is something you usually have to work out yourself. Here are the sums for the products Singapore traders use most.
Four worked examples at Pepperstone
- EUR/USD, 1 standard lot, Razor on MT5: 0.1 pips × US$10 = US$1 spread + US$3.50 × 2 commission = US$8.
- EUR/USD, 1 standard lot, Razor on cTrader: US$1 spread + US$3.00 × 2 = US$7.
- EUR/USD, 1 standard lot, Standard account: 1.1 pips × US$10 = US$11, no commission.
- Hong Kong share CFD, HK$100,000 position: 0.2% × 2 = HK$400 commission, plus the stock's spread.
- US share CFD, 500 shares: US$0.02 × 500 × 2 = US$20 commission on Pepperstone's published schedule, plus the spread.
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EUR/USD round turn across accounts
| Account | Spread | Commission | Total |
|---|---|---|---|
| Pepperstone Razor, cTrader | US$1 | US$6 | US$7 |
| Pepperstone Razor, MT5 / TradingView | US$1 | US$7 | US$8 |
| Pepperstone Razor, MT4 | US$1 | US$7 (charged at opening) | US$8 |
| Pepperstone Standard | US$11 | None | US$11 |
| XS Elite (US$500 minimum) | US$1 | US$6 | US$7 |
Indices and gold
Index CFDs at Pepperstone carry no commission, so the round-turn cost is the spread times your size per point: on the US500, the published average is 0.4 points on Razor and 0.5 on Standard (Australian data). Gold on Razor averages 0.12 against 0.19 on Standard, with Razor commission of US$3.50 per side, including on cTrader. Leverage doesn't change any of these sums; it only changes the margin you post.
What a round-turn figure leaves out
- Overnight financing, if you hold past the daily rollover.
- Currency conversion, if your account currency differs from the instrument's.
- Slippage: average spreads widen at times, and Pepperstone offers no guaranteed stops.
- Withdrawal costs: free by card or e-wallet, US$20 for international wires on the international costs page.
Sources
Prices as Pepperstone and XS publish them.
Is round-turn commission just the per-side rate doubled?
Yes. At Pepperstone, US$3.50 per side on MT5 is US$7 per lot round turn; on MT4 the same US$7 is charged when the trade opens.
What does a round turn cost on a mini lot?
Scale it down: 0.1 lot of EUR/USD on Razor MT5 costs about US$0.80 (US$0.10 spread plus US$0.70 commission).
Does leverage change the round-turn cost?
No. Spread and commission are charged on the position size; leverage only changes how much margin you post.
Knowing the cost of a trade does not limit its risk. CFDs are leveraged and can lose money rapidly; Pepperstone's international site states that 80% of retail investor accounts lose money with this provider. This is not investment advice.