Where can I trade indices with leverage in Singapore?
Verdict
- Pepperstone is our pick for leveraged index trading from Singapore: up to 1:200 on major indices for retail clients under its Bahamas licence, 26 index CFDs in its account tables, and no commission on any of them.
- Pepperstone has no MAS licence; Singapore residents are served by Pepperstone Markets Limited (SCB, SIA-F217).
- If you want a MAS-licensed provider, IG Asia, CMC Markets, Saxo, Plus500SG, OANDA and StoneX (FOREX.com) each name a Singapore company with a MAS licence; their index leverage is not in our data.
- XS also accepts Singapore residents and advertises dynamic leverage up to 1:2000, without naming the entity it applies to.
Leveraged index trading in Singapore runs through CFDs, either with a MAS-licensed local firm or an offshore broker. Pepperstone is the offshore option we recommend. Below: its leverage by client type, how that compares with its own regulated markets, and the local alternatives.
Pepperstone: up to 1:200 on major indices
Pepperstone's international site, which serves Singapore residents, sets retail leverage on major indices at up to 1:200, the same as on major forex pairs and gold. Its account tables count 26 index CFDs, covering the US, Europe and Asia (US500, NAS100, US30, GER40, UK100, HK50, JPN225, CN50, AUS200 among them), with spread-only pricing and no commission. You can trade them on the Pepperstone app, MT4, MT5, cTrader and, on Razor, TradingView, and hold the account in SGD.
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Index leverage by entity and client type
Pepperstone's Australian and UK retail limits are shown for comparison, because they show how much higher the Bahamas ceiling is.
| Provider and client type | Major indices | Minor indices |
|---|---|---|
| Pepperstone, Bahamas entity, retail (serves Singapore) | 1:200 | Not separately listed |
| Pepperstone, Bahamas entity, professional | 1:500 | 1:100 |
| Pepperstone, ASIC (Australia), retail | 1:20 | 1:10 |
| Pepperstone, FCA (UK), retail | 1:20 | Not in our data |
| XS (entity not stated) | Up to 1:2000 with dynamic leverage (standard account page) | Not stated |
Why less leverage is often the better deal
Leverage decides how much margin a position needs, not how much you can lose. A $10,000 index position needs $50 at 1:200 and $500 at 1:20; a 2% fall costs $200 either way. The difference is what happens next: at 1:200 that $200 loss is four times the margin, so an account funded close to the minimum is stopped out, while at 1:20 the position survives. Use the high ceiling to keep spare cash in the account, not to open bigger trades. Professional status at Pepperstone (two of three self-certified tests) lifts the ceiling to 1:500 but removes automatic negative balance protection.
MAS-licensed places to trade indices
- IG Asia Pte Ltd (Co. Reg. 200510021K), capital markets services licence.
- CMC Markets, which names a MAS-regulated Singapore business.
- Saxo Capital Markets Pte. Ltd. (200601141M), capital markets services licence.
- Plus500SG Pte Ltd, licence CMS100648.
- OANDA and StoneX Financial Pte. Ltd. (FOREX.com), both MAS-licensed.
- Leverage at these firms is set under MAS rules and is not in our data; ask each for its index margin rates.
Sources
Broker and regulator pages used.
What index leverage does Pepperstone give Singapore residents?
Up to 1:200 on major indices for retail clients of its Bahamas entity; 1:500 for professional clients.
Why is the leverage higher than in Australia?
Pepperstone's Australian clients are under ASIC rules, which cap retail major-index leverage at 1:20; Singapore clients are served under the Bahamas licence instead.
Is there a commission on index CFDs?
Not at Pepperstone; the cost is the spread.
Is leveraged index trading legal for Singapore residents with an offshore broker?
We don't give legal advice. Pepperstone publishes no Singapore-specific eligibility statement, so check your own position before opening an offshore account.
Higher leverage magnifies losses as well as gains, and leveraged index CFDs can lose you money very quickly. Pepperstone Markets Limited reports that 80% of retail investor accounts lose money trading CFDs with it. Not investment advice.