Which broker offers the tightest USD/SGD spread?
Verdict
- We cannot name the tightest USD/SGD spread: none of the brokers in our data, Pepperstone included, publishes a USD/SGD average.
- Our pick for trading it is still Pepperstone Razor, because its model is raw spread plus a fixed SGD 4.55 commission per side, so the spread you see is the market's, not a mark-up.
- On Pepperstone's Standard account, the cost includes a 1-point mark-up inside the spread instead of a commission, as Pepperstone describes it.
- Pepperstone serves Singapore residents through Pepperstone Markets Limited (SCB Bahamas, SIA-F217), which has no MAS licence.
This is a question we would rather answer honestly than with a made-up number. No broker in our fact set publishes an average spread for USD/SGD. What we can show is which pricing model gives you the closest-to-market price, and how to measure the spread yourself.
Why Pepperstone Razor is our pick for USD/SGD
Razor passes on the raw interbank spread and charges a separate commission, published at USD 3.50 per side, or SGD 4.55 per side if your account is in Singapore dollars. Because the commission is fixed, a tighter market spread goes straight into your pocket. Pepperstone lists 93 forex CFDs on its international accounts page (data from 12 March 2025); confirm USD/SGD in the platform's symbol list before you fund, since our data does not list the pairs individually.
Affiliate link — we may earn a commission at no extra cost to you.
How to measure the USD/SGD spread yourself
- Open the platforms of two or three brokers at the same time of day.
- Note the bid-ask difference on USD/SGD at several moments: during Singapore hours, at the London open and around US data.
- Add each broker's commission, converted into pips. On a USD/SGD lot, SGD 9.10 round trip divides by SGD 10 per pip to about 0.9 pips.
- Compare the totals, not the headline spread.
What the published figures elsewhere tell you
| Broker | Published figure | What it covers |
|---|---|---|
| Pepperstone Razor | 0.1 pips average | EUR/USD only |
| XS Elite | From 0.1 pips | EUR/USD only |
| Phillip Securities POEMS | From as low as 0.3 pips | FX CFDs in general, minimum |
| Phillip MT5 | From as low as 0.6 pips | Major FX pairs, minimum |
Things that matter more than the spread on USD/SGD
- Overnight swap: a pair held for days can cost more in financing than in spread.
- Account currency: in an SGD account, profits on USD/SGD land in your own currency.
- Licensing: Phillip Securities is MAS-regulated; Pepperstone and XS are not. Capital.com does not accept Singapore residents.
Sources
Pricing pages behind this answer.
Why don't brokers publish USD/SGD spreads?
The brokers in our data publish averages for a handful of major pairs only; for other pairs, the spread is shown live in the platform.
Is USD/SGD more expensive to trade than EUR/USD?
We have no published USD/SGD averages to compare it with, so check live quotes for both pairs at the same moment.
Can I trade USD/SGD in an SGD account?
Yes, an SGD account can trade any pair the broker offers; profits and losses are converted into SGD.
Forex and CFDs are leveraged products that carry a high risk of rapid losses. Spreads change constantly. This page does not give investment advice.