What is the spread on WTI crude oil?
Verdict
- There is no single WTI spread: it floats with the market and each broker sets its own. Pepperstone is our pick for trading WTI from Singapore, but we could not verify a published WTI spread figure, so read the live quote in its platform before you trade.
- WTI is priced in US dollars per barrel, so the spread is a price gap per barrel; multiply it by the barrels you trade to get the dollar cost of getting in and out.
- Singapore residents are served by Pepperstone Markets Limited, licensed in the Bahamas (SCB, SIA-F217); Pepperstone holds no MAS licence.
- That entity's retail margin table lists a WTOIL-PERP perpetual CFD, and retail leverage on commodities other than gold is up to 1:50.
The spread on WTI crude is not a fixed number. It is the gap between the bid and ask a broker quotes for its oil CFD, it widens and narrows through the day, and every broker prices it differently. This page shows how to find the real figure at Pepperstone, what you pay on top of it, and what a Singapore resident should know about the company behind the account.
Pepperstone for WTI: what is published and what is not
We rank Pepperstone first for oil traders in Singapore because one account covers both crude benchmarks: the retail margin table of its Bahamas entity lists WTOIL-PERP and BRENTOIL-PERP perpetual CFDs, among the 40 commodity CFDs counted in its account tables. You can start with $10, hold the account in Singapore dollars, and trade perpetuals on TradingView, MT5, cTrader or the Pepperstone app. What we could not find is a published average spread for WTI. The cost pages we checked give averages for currency pairs and for gold (0.12 on Razor, 0.19 on Standard), not for oil. So don't trust a WTI number from any comparison site, ours included: open the symbol and watch the bid and ask at the hours you actually plan to trade.
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How to turn a WTI spread into dollars
Because oil CFDs quote a price per barrel, the cost of crossing the spread is simply the spread multiplied by the number of barrels in your position. The figures below are worked illustrations, not Pepperstone quotes:
- A 3-cent spread on a 100-barrel position costs $3 to enter and exit.
- The same 3 cents on 1,000 barrels costs $30.
- If the quoted spread doubles to 6 cents, the 1,000-barrel cost doubles to $60.
- How many barrels one lot represents is set by the broker, so read the contract size in the symbol specification before you size a trade.
The rest of the bill on an oil CFD
The spread is only the first line of cost. Here is what else applies to a Singapore resident's Pepperstone account, as published by Pepperstone for its international entity.
| Item | What Pepperstone publishes |
|---|---|
| Spread | Floating; no WTI average in the pages we verified, so read it live |
| Commission | Not stated for oil in the pages we verified; Razor's published commission covers FX and gold |
| Holding a WTOIL-PERP | Funding rate set weekly in advance and applied daily at 5 pm New York time |
| Retail leverage | Up to 1:50 on commodities other than gold, so margin of 2% of the position value |
| Deposits and withdrawals | Free, except a $20 fee on international bank-wire withdrawals |
Who regulates your oil trades from Singapore
Pepperstone has no Singapore website. Its own pages route Singapore visitors to pepperstone.com/en, which is operated by Pepperstone Markets Limited of Nassau under Securities Commission of The Bahamas licence SIA-F217. The MAS Financial Institutions Directory returns no result for Pepperstone, so you would not be dealing with a MAS-licensed firm. Under the entity's terms, retail clients are not liable for a negative balance; no investor compensation scheme is named. XS also accepts Singapore residents, but the data we hold shows no WTI spread for it. If a local licence matters more to you than cost, IG, CMC Markets and Saxo each name a MAS-licensed Singapore company, though we have not verified their oil spreads.
Sources
Pepperstone's own pages and the MAS register.
Is the WTI spread fixed at Pepperstone?
No. It floats with the market. Pepperstone publishes averages for major currency pairs and gold, but we could not verify one for WTI, so check the live quote in the platform.
Is WTI the same as Brent?
No. They are two separate crude benchmarks, and Pepperstone's Bahamas retail margin table lists them as separate contracts: WTOIL-PERP and BRENTOIL-PERP.
How much margin does a WTI position need?
At the 1:50 retail cap for commodities other than gold, 2% of the position value: a $10,000 position needs $200 of margin.
Does Pepperstone hold a Singapore licence?
No. It holds no MAS licence; Singapore residents are served by its Bahamas entity, Pepperstone Markets Limited.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Pepperstone's international site states that 80% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you can afford that risk. This page is not investment advice; check current terms on the broker's own site before you open an account.