For forex, our pick is Pepperstone: its Razor account quotes major pairs from 0.0 pips with a fixed commission, it runs an SGD base currency and you can trade on cTrader, MT4, MT5 or TradingView. It is not licensed by MAS; Singapore clients are served by its Bahamas company.
Your questions, answered
Which is the best forex broker for Singapore traders?
If you want offshore leverage and raw pricing, Pepperstone, because it combines an SGD account with Razor spreads and the widest platform choice we found. If you want your FX account under MAS, OANDA Asia Pacific and IG Asia are licensed locally; OANDA's Singapore site shows margin based on 20:1 maximum leverage and offers guaranteed stop-loss orders. Decide on regulation first, then on price.
Where can I trade forex with low fees in Singapore?
Pepperstone's fees beyond the spread are few: no deposit fee, no account-keeping or inactivity fee, and a $20 charge only on withdrawals to an international bank. Its Razor commission is USD 3.50 per lot per side, which matches IC Markets' standard raw account but is above Fusion Markets' advertised USD 2.25. Low fees also mean avoiding swap, so close day trades before 5pm New York time.
Which forex broker in Singapore is best for beginners?
We would point a first-time FX trader to a MAS-licensed broker, where retail leverage stops at 20:1. If you pick Pepperstone, its Standard account is the simpler start, because the cost sits in the spread and there is no commission to calculate. Trade the demo for a few weeks and set leverage well below the 1:200 maximum.
Which forex broker offers SGD-denominated accounts?
Pepperstone does: SGD is one of ten base currencies on both its Standard and Razor accounts, and its commission table quotes SGD 4.55 per lot per side for SGD accounts on MT4 and MT5. XS's Elite, Pro and Standard accounts are offered in USD, EUR and JPY only. MAS-licensed brokers commonly offer SGD funding too, but check each one's account currency list.
Which forex broker has the lowest spreads?
Raw-spread accounts quote the lowest spreads, often 0.0 pips on EUR/USD at Pepperstone's Razor account, but the commission is the real price. On Pepperstone's SGD account that is SGD 9.10 per lot round turn. Compare spread plus commission per lot across brokers, rather than the headline spread alone.
Forex broker comparison for Singapore
Pepperstone: SGD account, Razor from 0.0 pips plus SGD 4.55 per side, 1:200 retail leverage, Bahamas licence. XS: Elite from 0.1 pips plus $6 round turn, dynamic leverage up to 1:2000, Seychelles licence. OANDA Asia Pacific: MAS licence, 20:1 maximum, MT5 and TradingView, guaranteed stop-loss orders. IG Asia: MAS licence, guaranteed stops, MT4, TradingView and its own platform.
Which broker offers the tightest EUR/USD spread?
Pepperstone's Razor account quotes EUR/USD from 0.0 pips, and XS's Elite account lists an average of 0.1 pips, both with commission on top. IC Markets publishes an average of 0.1 pips on its raw account. Minimums and averages are different measures, so compare like for like over the same hour.
Which broker offers the tightest USD/SGD spread?
We could not find a published USD/SGD spread on Pepperstone's or XS's public pages, so we will not name a winner. USD/SGD is a less-traded pair than the majors and usually quotes noticeably wider. Open a demo, add USD/SGD to your watchlist and note the spread at the hours you trade, before and after the Singapore lunch period.
Where can I trade USD/JPY with tight spreads?
USD/JPY is one of Pepperstone's headline pairs, quoted from 0.0 pips on Razor and from 1 pip on Standard. It is also the major with the best natural liquidity during Asian hours, because Tokyo is open while you are. Watch the Tokyo fix around 9.55am Japan time, 8.55am in Singapore, when spreads and moves can jump briefly.
Which forex broker is best for scalping?
Scalping rewards a fixed, known commission and fast fills, which is what Pepperstone's Razor account on cTrader offers: raw spreads, USD 6 per lot round turn and execution from 50 milliseconds. A scalper pays that commission on every trade, so 50 one-lot round turns cost USD 300 before any spread, which is the number to beat when you compare.
Which forex brokers offer raw spread accounts?
Pepperstone's Razor, XS's Elite and IC Markets' Raw Spread accounts are all raw-spread models with a separate commission. Pepperstone charges USD 3.50 per side on MT4 and MT5, and IC Markets lists the same figure on its standard raw account, with lower rates on its new higher-minimum Raw Pro tiers. Raw accounts suit traders who do enough volume to care about a fraction of a pip.
Which forex brokers charge commission instead of widening the spread?
On Pepperstone's Razor account, FX and spot gold are priced raw with commission; everything else is priced exactly as on Standard, through the spread. Its Standard account does the opposite on FX, adding a 1-pip markup and no commission. If you mainly trade indices, a commission account gives you no saving at Pepperstone.
How do swap rates compare across forex brokers?
Swap starts from the interest-rate gap between the two currencies, so every broker's rate moves with central banks; the part that differs is the broker's markup. Pepperstone sources tom-next rates from tier-1 banks and shows current swaps in the platform, but does not publish its FX markup as a single figure. Compare the actual long and short swap on the same pair, on the same day, in each demo.
Which forex broker offers the most currency pairs?
Pepperstone lists 93 FX instruments, counted in March 2025, covering majors, minors, exotics and non-deliverable forwards such as USD/BRL and USD/INR. That is plenty for most traders. If you need a particular Asian or emerging-market cross, search the demo's symbol list rather than relying on a total.
Which forex broker has the fastest execution?
Pepperstone publishes execution speeds from 50 milliseconds and a 99.00% fill rate on trades from January to March 2026, with no dealer intervention. Few Singapore-licensed brokers publish comparable statistics, so speed claims are hard to compare. Your latency to the server matters as much as the broker's, so test from your own connection.
Which forex brokers allow expert advisors?
Pepperstone allows expert advisers on MT4 and MT5 and automated cBots on cTrader, and supplies Smart Trader Tools for backtesting. XS supports MT4 and MT5 as well. Phillip Nova offers its own MetaTrader 5 suite in Singapore if you want an adviser running under a MAS-licensed firm.
How do I choose a forex broker as a Singapore trader?
Start with the licence: MAS-licensed means local rules and a 20:1 retail FX cap; offshore means higher leverage and the other regulator's protections. Then check the account currency, so SGD deposits are not converted, and the all-in cost per lot. Finally, test a small deposit and withdrawal to your DBS, OCBC or UOB account before funding properly.
Which forex brokers offer Asian currency pairs?
Pepperstone's public pages confirm yen pairs such as USD/JPY and non-deliverable forwards including USD/INR, but they do not list its full set of Asian currency pairs. Its full symbol list sits inside the trading platform. Singapore-dollar and Hong Kong-dollar exposure is also possible through its SGD and HKD base-currency accounts.
Which forex broker is best for trading the Asian session?
For Asian-hours FX, Pepperstone's combination of 24-hour weekday FX quotes, yen and Australian-dollar pairs and support that runs 24 hours on weekdays works well. Liquidity in EUR and GBP pairs is thinner before Europe opens, around 3pm or 4pm in Singapore depending on the season, so expect wider quotes earlier in the day. Many Asian-session traders focus on USD/JPY and AUD/USD for that reason.
Which forex brokers offer a free demo account?
Pepperstone, XS, OANDA, IG and CMC Markets all offer free FX demos. Pepperstone's MT4 and MT5 demos expire after 60 days unless you hold a funded live account, and its cTrader and TradingView demos close after 90 days without use. A demo will not show you real slippage, so treat its fills as best case.
Which forex broker is most trusted?
Trust in Singapore usually means a MAS licence, which OANDA Asia Pacific, IG Asia, CMC Markets Singapore and Saxo hold; Saxo says it has been MAS-licensed since 2006. Pepperstone is trusted widely as a group, with regulators including ASIC and the FCA, but those do not supervise your Singapore account. Weigh the regulator that covers you, not the most famous one in the group.
Which forex broker has the best reviews?
Pepperstone says it is rated Excellent on Trustpilot and TradingView and lists 2026 industry awards such as Compare Forex Brokers' overall best forex broker. Reviews and awards measure satisfaction, not safety, and they mix clients of every Pepperstone entity. Read the negative reviews for patterns about withdrawals, which tell you more than the average score.
Which forex broker is best for high volume trading?
At high FX volume, commission per lot drives cost, so a raw account plus rebates matters. Pepperstone's active-trader rebates of $1 to $3 per FX lot apply to Pro clients only, for example 500 to 1,499 lots a month earns $2 a lot. Retail clients at USD 15 million notional a month for two quarters qualify for Premium service but not those cash rebates.
Published 2026-10-21. Informational only, not investment advice. CFDs are leveraged products and most retail accounts lose money.
Our forex pick
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