Pepperstone vs IC Markets
Which broker is superior: Pepperstone or IC Markets? Read our comparison of the two brokers to help you choose the right one for your trading needs.
IC Markets and Pepperstone are both strong choices for experienced traders. Each offers reliable platforms and tools. Both provide demo accounts to practice trading. However, IC Markets might be preferable for more experienced traders due to its lower spreads, while beginners may find Pepperstone’s range of educational resources more beneficial.
Pepperstone and IC Markets lack proprietary platforms, but they both support popular third-party platforms. Pepperstone stands out for its demo account flexibility and beginner support. This can make it a better fit for less experienced traders. IC Markets excels in offering competitive trading fees, making it attractive for cost-conscious traders.
Both brokers thrive on customer support and regulation. They comply with multiple regulatory bodies, ensuring user protection. IC Markets offers a wider range of withdrawal options and financial assets. Conversely, Pepperstone places more emphasis on user education and diverse account options for various trading preferences.
Regulation & Trust
IC Markets is well-regulated by top bodies, such as ASIC and CySEC. It ensures a reliable trading environment. On the other hand, Pepperstone tops IC Markets in regulation by being authorized by 4 green-tier regulators. Although IC Markets faced a 2024 lawsuit over client evaluations, it continues to maintain trust through strong regulatory oversight. Both companies are not listed on stock exchanges and don’t publicly disclose financial data.
Accounts & Banking
Pepperstone offers both Standard and Razor accounts, similar to IC Markets’ Standard and Raw Spread accounts. Both brokers provide traders with market access at competitive costs. Opening an account is straightforward with both brokers, but Pepperstone offers more base currency options and a swap-free account. IC Markets provides a Raw Trader Plus option for high-volume traders, enhancing their banking offerings. Pepperstone’s deposit methods focus on cards, bank transfers, and PayPal, while IC Markets provides more flexible options like branch cash deposits and Klarna.
Assets & Markets
IC Markets offers over 2,250 instruments, focusing heavily on forex and CFDs. It provides more opportunities than Pepperstone, which offers over 1,300 assets, limited to CFDs. Both brokers present high leverage options: up to 1:200 for Pepperstone and 1:500 for IC Markets. Pepperstone’s asset range is more diverse but lacks stock ownership opportunities. Meanwhile, IC Markets supports a broad array of commodities, indices, and cryptocurrencies.
Fees & Costs
IC Markets is superior in providing lower trading fees with exceptionally low spreads. However, both brokers do not offer interest payments on cash balances. Pepperstone features a rebate program reducing costs for traders who meet trading volume requirements. Both brokers typically do not charge deposit fees, but withdrawal fees can vary. IC Markets charges a $20 fee on bank wire withdrawals.
Platforms & Tools
Pepperstone lacks a proprietary trading platform but supports MetaTrader, cTrader, and TradingView. IC Markets also provides these platforms, focusing on execution services. IC Markets recently added TradingView support. Thus, both brokers have strong third-party support, providing advanced charting and trading tools. Copy trading is available on both platforms but limited. Pepperstone offers innovative features like Capitalise.ai, while IC Markets enriches its platforms with vibrant trading communities.
Research
Both brokers fall short compared to industry leaders. Pepperstone has useful research tools and daily articles. IC Markets provides Autochartist and Trading Central tools with valuable analytics. IC Markets enriches the trading experience with a better range of technical summaries and news feeds. However, its educational resources lag in quality and organization.
Education
Pepperstone excels with accessible educational content like guides, AI-toolkits, and webinars. It expands knowledge for new traders. IC Markets offers basic trading tutorials but lacks organization. It does not compare to leaders like CMC Markets. Both brokers could improve by categorizing content based on experience levels.
Customer Support
Both brokers offer notable customer support with live chat, email, and phone assistance. Pepperstone extends Arabic support and FAQs, while IC Markets ensures efficient support with limited agent knowledge. Both companies address customer inquiries promptly.
Is Pepperstone or IC Markets Better For Beginners?
Pepperstone is better for beginners due to its educational offerings and friendly account opening procedures. With no minimum deposit, varied accounts, and accessible demo accounts, Pepperstone excels in supporting new traders.
Is Pepperstone or IC Markets Better For Experienced Traders?
IC Markets outshines Pepperstone for experienced traders seeking low spreads and a broad instrument range. With the Raw Spread account and support for advanced trading platforms, IC Markets meets professional trader needs efficiently.
Why Pick Pepperstone Over IC Markets?
Pepperstone offers strong educational resources, no minimum deposits, and flexible demo options. Its regulatory oversight provides a secure trading environment. With competitive platforms and swift customer support, it’s a strong option for novice traders.
Why Pick IC Markets Over Pepperstone?
IC Markets appeals with low trading costs, fast execution, and advanced platform support. The wide array of instruments ensures ample trading opportunities. For experienced traders focusing on cost-effectiveness, IC Markets is the preferred choice.
Pepperstone vs IC Markets Details
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Pepperstone
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IC Markets
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Pepperstone, established in Australia in 2010, is a highly-regarded forex and CFD broker serving more than 400,000 international clients. It provides access to over 1,300 instruments through leading trading platforms such as MT4, MT5, cTrader, and TradingView, while keeping fees relatively low and transparent. The company is regulated by known authorities including FCA, ASIC, and CySEC, offering a safe trading environment for all. | IC Markets is a renowned forex and CFD broker recognized for its high-quality pricing, extensive range of trading tools, and superior trading technology. Established in 2007 in Australia, it operates under the oversight of ASIC, CySEC, and FSA. It has drawn in over 180,000 traders from across 200 countries. | |
| Instruments | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto (only Pro clients), Spread Betting | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto |
| Demo Account | ✓ | ✓ |
| Minimum Deposit | $0 | $200 |
| Trading Platforms | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower |
| Payment Methods | Apple Pay, BPAY, Credit Card, Debit Card, Google Wallet, Mastercard, Neteller, PayPal, PIX Payment, POLi, Skrill, UnionPay, Visa, Wire Transfer | BPAY, Credit Card, Klarna, Mastercard, Neteller, PayPal, POLi, Rapid Transfer, SafeCharge, Skrill, Swift, UnionPay, Visa, Wire Transfer |
| Minimum Trade | 0.01 Lots | 0.01 Lots |
| Regulator | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB | ASIC, CySEC, FSA, CMA |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
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| Assets & Markets Rating | ||
| Platforms Rating | ||
| Fees & Costs Rating | ||
| Customer Support Rating | ||
| Education Rating | ||
| Research Rating | ||
| Accounts & Banking Rating | ||
| Mobile Apps | iOS & Android | iOS & Android |
| App Review | Pepperstone is exceptional for its great integration with the MT4, MT5, cTrader, and TradingView apps, making it an excellent option for traders using these top trading platforms. These apps provide a stable and reliable mobile trading experience, boosted by Pepperstone’s fast execution speeds and diverse asset classes. Recent upgrades earned it second place in DayTrading.com’s 2025 ‘Best Trading App’ award. | IC Markets offer mobile apps for cTrader, MT4, MT5, and TradingView platforms. These apps are designed separately for Android and iOS, utilizing each system's capabilities. They offer raw pricing and spreads from 0.0, making them useful trading tools for all trader skill levels. Notably, the apps maintain the fast transaction speed IC Markets is known for, ensuring a professional and responsive trading experience. |
| Android App Rating | ||
| iOS App Rating | ||
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| Margin Trading | ✓ | ✓ |
| Account Types | STP, ECN, DMA, MAM | ECN, DMA, MAM, PAMM |
| AI / Machine Learning | ✓ | ✗ |
| Robo Advisor | ✗ | ✗ |
| Negative Balance Protection | ✓ | ✓ |
| Market Maker | ✗ | ✗ |
| P2P Trading | ✗ | ✗ |
| Spot Trading | ✓ | ✓ |
| Auto Trading | Expert Advisors (EAs) on MetaTrader | Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade |
| Copy Trading | ✓ | ✓ |
| Copy Trading Platform | Pepperstone enables traders to follow strategies of experienced traders via MetaTrader Signals, DupliTrade, and its new copy trading app (available in select regions) in partnership with Pelican Trading, offering access to many skilled traders and customizable risk settings. However, it does not support cTrader Copy, which may discourage users who prefer Spotware's terminal. | Introduced in February 2023, the IC Social app provides an easy way to learn, share, and replicate the positions of other traders quickly. The app includes risk management tools and supports trading groups. IC Markets also offers access to Signal Start and popular third-party copy trading platforms like ZuluTrade and cTrader Copy. |
| Social Trading | ✗ | ✓ |
| Trade Signals | Yes (Via Chartist Software) | Signal Start |
| VPS Hosting | ✓ | ✓ |
| Tournaments | ✗ | ✗ |
| Demo Competitions | ✗ | ✗ |
| Ethical Investing | ✗ | ✗ |
| Custodial Account | ✗ | ✗ |
| Guaranteed Stop Loss | ✗ | ✗ |
| Inactivity Fee | $0 | $0 |
| Islamic Account | ✓ | ✓ |
CFD Trading | ||
Pepperstone remains a top-notch CFD broker based on our recent tests. The broker offers swift execution speeds averaging 30ms, a high fill rate of 99.90% and over 1,300 assets to trade. This ensures a smooth trading experience without interruptions or the need for re-quotes. | You can trade over 2,250 CFDs 24/5 in various markets like forex, commodities, indices, stocks, and bonds. IC Markets uses high-level technology and liquidity to provide the best conditions for scalpers, hedgers, and algorithmic traders. | |
| Leverage | 1:30 (Retail), 1:500 (Pro) | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) |
| FTSE Spread | 1.0 | 1.0 |
| GBPUSD Spread | 0.4 | 0.23 |
| Oil Spread | 2.5 | 0.03 |
| Stocks Spread | 0.02 | 0.02 |
Forex Trading | ||
Pepperstone offers exceptionally low forex spreads, averaging 0.12 pips on EUR/USD in the Razor account, with over 100 currency pairs to choose from. This exceeds what most competitors offer. Pepperstone uniquely provides three currency indices (USDX, EURX, JPYX), a rare feature in trading platforms. Pepperstone has claimed our 'Best Forex Broker' award twice. | IC Markets offers extremely low 0.0-pip forex spreads on major currency pairs like EUR/USD, making it an ideal choice for those seeking excellent execution, which averages at 35 milliseconds. Moreover, high-volume traders can enjoy rebates up to $2.50 per forex lot. | |
| GBPUSD Spread | 0.4 | 0.23 |
| EURUSD Spread | 0.1 | 0.02 |
| EURGBP Spread | 0.4 | 0.27 |
| Assets | 100+ | 75 |
| Currency Indices | USD, EUR, JPY | |
Cryptocurrency | ||
Pepperstone remains a reliable crypto broker. It offers a standard selection of digital tokens, including well-known ones like Bitcoin and altcoins such as Ripple. Traders can utilize up to 1:10 leverage with these cryptos. Moreover, its crypto indices give a comprehensive perspective of the digital currency markets, a feature not typically seen on most trading platforms. | IC Markets provides 20+ cryptocurrencies for trading through CFDs, featuring less popular tokens like Avalanche, Kusama, and Uniswap. Traders can benefit from commission-free trades and high leverage up to 1:200 on the MetaTrader platforms. | |
| Spread | BTC 30, ETH 0 | BTC 42.036 |
| Coins | BCH, BTC, ETH, LTC, DASH, ADA, LINK, DOGE, EOS, DOT, XRP, XLM, XTZ, UNI, BNB | BTC, BCH, DOT, DSH, EMC, EOS, ETH, LNK, LTC, NMC, PPC, XLM, XRP, ADA, BNB, DOG, UNI, XTZ |
| Crypto Lending | ✗ | ✗ |
| Crypto Mining | ✗ | ✗ |
| Crypto Staking | ✗ | ✗ |
| Auto Market Maker | ✗ | ✗ |
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