Due to the problem of network communication, it is difficult to ensure the reliability of real-time precise point positioning (PPP) timing/time transfer with real-time precise products. With the continued reduction in the signal-in-space range error (SISRE), the performance and feasibility of GPS or Galileo PPP timing/time transfer with broadcast ephemeris were analyzed firstly in real-time. Then, we present a smoothing method and time series decomposition method to reduce the noise and the interpolation error for GPS or Galileo PPP timing\time transfer with broadcast ephemeris in real-time. The results showed that GPS or Galileo PPP timing with broadcast ephemeris can achieve 4×1E-14 level at 15360 s at the current state. The accuracy is about (0.46~0.81) ns and (0.44~0.61) ns for GPS or Galileo PPP time transfer. The frequency stability is about 7.0×1E-14 and 5.0×1E-14 levels at 15360 s for GPS and Galileo PPP. Importantly, by applying our approach, the maximum improvement in frequency stability for GPS or Galileo PPP timing/time transfer is up to 99 %. Furthermore, the average accuracy of GPS or Galileo PPP time transfer can achieve approximately 0.3 ns, which is improved by up to 67.3 % as compared to the traditional method.