Pepperstone is our pick on platform choice and its Razor pricing, but it is the only one of the three without a MAS licence. IG Asia and CMC Markets Singapore are MAS-licensed locally, so they offer Singapore-law protection and lower, MAS-capped leverage.
Short answer: Choose Pepperstone for MT4, MT5, cTrader and TradingView with raw-spread pricing; choose IG or CMC Markets if a Singapore licence and local legal recourse come first.
IG Asia Pte Ltd and CMC Markets Singapore (CMS licence 100063) are licensed by MAS; Pepperstone serves Singapore from The Bahamas (SCB SIA-F217).
Pepperstone's retail FX leverage is 1:200; MAS sets a 5% minimum margin on retail FX CFDs at licensed firms, which is 20:1.
IG offers guaranteed stops; Pepperstone does not offer guaranteed stop-loss orders.
Platforms: Pepperstone has MT4, MT5, cTrader, TradingView and its own app; IG lists its web platform, app, MT4, ProRealTime, L2 Dealer and TradingView; CMC lists its own platform, MT4 and an investing app.
The real trade-off: licence versus toolkit
Every comparison here comes back to one point. IG and CMC Markets put your account under the Monetary Authority of Singapore, its conduct rules and its leverage caps. Pepperstone gives you more third-party platforms and higher leverage, but the company holding your money is regulated in The Bahamas.
Neither choice is wrong. A trader who scalps on cTrader and wants raw spreads may accept the offshore licence knowingly; a trader who wants a local regulator to complain to should start with a MAS-licensed firm. Decide which of those you are before comparing spreads.
Best platform range
Five platforms including cTrader and TradingView, Razor raw spreads with a published commission, SGD accounts and a $10 minimum, under a Bahamas licence rather than MAS.
Pepperstone's international site states that 80% of retail investor accounts lose money when trading CFDs with this provider.
MetaTrader alternative
MT4, MT5 and the XS app with spreads from 0.1 pips on EUR/USD on the Elite account ($6 round-turn commission, $500 minimum), regulated for these clients by the FSA Seychelles.
Pepperstone, Capital.com and XS are our partners. We may earn a commission if you open an account through our links. That does not change the facts on this page.
Your questions, answered
Is Pepperstone or IG better for CFD trading in Singapore?
IG is the better fit if you want a MAS-licensed provider, guaranteed stops and a very wide market list; its Singapore site advertises CFDs on 13,000 markets. Pepperstone is the better fit if you want cTrader or MT5, raw spreads plus commission and higher leverage. The cost of that choice is giving up Singapore-law protection, because Pepperstone's Singapore clients are served from The Bahamas.
Pepperstone or CMC Markets, which is better for Singapore traders?
CMC Markets Singapore holds MAS capital markets services licence 100063 and offers its own CMC platform, MetaTrader 4 and a separate investing app for shares, ETFs and REITs across 15 markets. Pepperstone adds MT5, cTrader and TradingView but has no Singapore licence. If you also want to buy real shares alongside CFDs in one relationship, CMC's local set-up is more complete; for pure CFD platform choice, Pepperstone wins.
How do Pepperstone and Oanda compare on spreads?
Pepperstone publishes minimums: EUR/USD from 0.0 pips plus commission on Razor, or from 1 pip with no commission on Standard. OANDA Asia Pacific's Singapore homepage does not show an equivalent minimum, so we will not quote one. The fair test is to open both demos and record EUR/USD at the same moment, then add Pepperstone's commission to its spread before you compare.
Is Pepperstone cheaper than Forex.com for forex trading?
We cannot say from published figures. FOREX.com's international site is run by GAIN Global Markets Inc., regulated in the Cayman Islands, and we found no Singapore-specific site or MAS licence for it, so we did not have a comparable Singapore price list. Pepperstone's Razor costs are public: raw spreads plus USD 3.50 per lot per side, or SGD 4.55 on an SGD account.
Pepperstone or Phillip Nova, which is better for a Singapore trader?
Phillip Nova is a MAS-licensed, Singapore-based firm founded in 1983 within the PhillipCapital Group and a founding clearing member of SGX's derivatives market, so it suits traders who also want exchange-traded futures. Pepperstone is narrower, offering CFDs only, but gives cTrader, MT4 and its own app on top of MT5 and TradingView. Pick Phillip Nova for local regulation and futures access, Pepperstone for a CFD-only account with more platform choice.
Which broker has tighter gold spreads, Pepperstone or IG?
Pepperstone's published minimum on spot gold is 0.08 on Razor, plus commission, and 0.2 on Standard. IG's Singapore homepage does not state a gold minimum we could compare, so a fair answer needs live quotes. Remember IG can attach a guaranteed stop to a gold trade, which Pepperstone cannot, and that has a cost of its own.
Pepperstone or Oanda for MetaTrader trading?
OANDA Asia Pacific offers MT5 alongside TradingView, its web platform and app, and it is MAS-licensed. Pepperstone offers both MT4 and MT5, plus Smart Trader Tools for backtesting and expert-adviser support across 1,350-plus instruments. If you still run MT4 expert advisers, Pepperstone is the one that supports both versions; OANDA's MAS licence and its guaranteed stop-loss option are its edge.
Is Pepperstone or CMC Markets better for beginners in Singapore?
For a complete beginner we lean towards a MAS-licensed provider such as CMC Markets, because local regulation and the 20:1 leverage cap on retail FX limit how much damage an early mistake can do. Pepperstone's Standard account is simple, with no commission outside share CFDs and a free demo, but leverage up to 1:200 is a lot of rope for a first account. If you choose Pepperstone, set your own lower leverage and stop size on day one.
Which is better for scalping, Pepperstone or Forex.com?
Pepperstone publishes the numbers scalpers look for: execution from 50 milliseconds, a 99.00% fill rate for the first quarter of 2026, no dealer intervention, and raw Razor spreads on cTrader at a fixed USD 6 per lot round turn. We could not find comparable figures from FOREX.com for Singapore residents. For scalping, measure your own fills on a demo first, because slippage around data releases matters more than any advertised minimum.
Pepperstone or IG on execution speed, which is better?
Pepperstone states execution from 50 milliseconds and a 99.00% fill rate on trades in the first quarter of 2026, with no dealer intervention. IG's Singapore homepage did not publish a comparable speed figure when we checked, so we will not rank one over the other on speed. Test both on demo during the London-New York overlap, which runs late evening Singapore time.
Which offers better value for high volume traders, Pepperstone or Oanda?
Pepperstone's volume discounts sit inside its active-trader programme, which is for professional clients only, paying back $1 to $3 per FX lot depending on monthly volume. Retail clients trading at least USD 15 million notional a month for two consecutive quarters can qualify for its Premium service, with an account manager. OANDA's Singapore site mentions dedicated relationship managers, but we found no public rebate table to set against Pepperstone's.
Pepperstone or Phillip Nova, which has the better trading app?
Phillip Nova's main app is NOVA, and it also offers TradingView and its own MetaTrader 5 suite. Pepperstone's app covers 1,350-plus CFDs with price alerts, full-screen charts, one-tap trading and AI-assisted market discovery, and its accounts also run on the MT4, MT5, cTrader and TradingView apps. Choose on the markets you trade: futures traders will want NOVA, CFD-only traders will find Pepperstone more flexible.
Pepperstone or Moomoo, which is better for leveraged trading?
They are different products. Moomoo Singapore is a MAS-regulated stockbroker whose leverage comes from margin financing on real shares, with rates it advertises from 2.8%, plus options; we found no CFDs on its Singapore site. Pepperstone offers leveraged CFDs on FX, indices, commodities and shares at up to 1:200 retail. Margin on shares you own is usually the gentler route; CFD leverage is higher and faster to hurt.
Pepperstone or Tiger Brokers for CFD trading?
For CFDs, Pepperstone, because Tiger Brokers Singapore's site presents shares, options, futures and margin trading but no CFD product that we could find. Tiger is licensed by MAS and offers 24/5 trading on more than 9,500 US stocks and ETFs, which may cover what you want without a CFD at all. If you specifically want index, FX or commodity CFDs, Tiger is not the comparison.
Published 2026-10-21. Informational only, not investment advice. CFDs are leveraged products and most retail accounts lose money.
Best platform range
MetaTrader alternative