Are you confused about whether to choose IC Markets vs Pepperstone as a broker for your investing needs?
In this side-by-side comparison, we analyse Pepperstone vs IC Markets to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.
Below, you’ll find the pros and cons of each broker, as well as a comparison of the features offered, the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!
Pepperstone vs IC Markets
- Pepperstone is our recommendation overall. Offers top-tier regulation, including FCA in the UK, and a wide range of platforms and additional tools. You can check our in-depth Pepperstone review here.
- IC Markets is ideal for traders who prioritize low spreads and fast execution, especially those employing short-term or algorithmic strategies. However, it’s crucial for traders to use the ICMarkets.eu entity to ensure investor protection – since icmarkets.com is not regulated in Europe and offers no investor compensation scheme.
All in all, we recommend Pepperstone over IC Markets because it is properly regulated by top-tier authorities such as the FCA in the UK or BaFin in Germany, offering a higher level of trust and security.
Additionally, Pepperstone is endorsed by the r/Forex subreddit—the largest forex community on the internet—alongside Interactive Brokers, which further attests to its credibility in the forex/CFD community.
Disclaimer: Trading Forex and CFDs involves significant risk and may not be suitable for all investors. Keep in mind that most CFD traders lose money. Ensure you fully understand the risks involved and seek independent advice if necessary.
Comparison table
About Pepperstone
Established in 2010, Pepperstone has become one of the world’s largest forex brokers.
Pepperstone is regulated by several top-tier financial authorities, including ASIC (Australia), FCA (UK), BaFin (Germany), Dubai (DFSA) and Cyprus (CySEC).
It offers leverage up to 500:1 in most regions. In the UK and Europe, leverage is capped at 30:1 due to EU regulations.
A minimum deposit of $0 USD is required for all account types.
It also offers Islamic Accounts (Swap-free – interest-free – accounts are available for halal trading) and UK residents can access tax-free spread betting accounts as well.
Pepperstone pros and cons
Pros
- Quick customer support response times
- No fees for deposits, withdrawals, or account inactivity
- Competitive spreads in the Razor account with active trader rebates
- High leverage options up to 1:500 for Pro clients; Max retail leverage 1:400 (depending on location)
Cons
- Limited to CFD trading; no direct asset ownership
- Higher Forex spreads in the standard account
- Crypto offerings are limited compared to competitors
- Limited educational resources
About IC Markets
Founded in 2007, IC Markets has grown into one of the leading forex and CFD brokers globally.
IC Markets is regulated by top-tier financial authorities like ASIC in Australia. Other regulators include CySEC (Cyprus), and the FSA (Seychelles).
The broker offers leverage up to 500:1 for clients outside Europe and Australia, while in the EU and Australia, leverage is limited to 30:1 and 20:1, respectively, due to regulatory requirements.
IC Markets has no minimum deposit requirement across its account types.
The platform supports Islamic Accounts (Swap-free) for halal trading, and offers a range of account types suited to different trading styles and needs.
IC Markets pros and cons
Pros
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Tight spreads and low commissions
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Wide range of platforms and tools
- Widely used by the forex and CFD community
Cons
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Limited product portfolio (only CFDs, no real stocks)
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Investors outside the EU are not covered by investor protection
- icmarkets.com is not regulated by top-tier regulators
Regulation
- Pepperstone: Pepperstone is highly regulated by several top-tier authorities, including ASIC, the Financial Conduct Authority (FCA) in the UK, BaFin in Germany, CySEC, and the Dubai Financial Services Authority (DFSA). As such, it is the clear winner here, especially if you live in Australia, UAE, or the UK!
- IC Markets: IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles.
- Important note: The entity ICMarkets.com is not regulated in Europe, meaning there is no investor protection for European clients using this entity. European traders should use ICMarkets.eu, which is regulated by the Cyprus Securities and Exchange Commission (CySEC).
Fees and Spreads
Both offer very low spreads, starting from 0.1 pips on EUR/USD on Pepperstone and 0.0 pips on EUR/USD on IC Markets.
Trading Platforms
- Pepperstone: MT4, MT5, cTrader, and TradingView.
- IC Markets: MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView, and Zulutrade.
Market Instruments
- Pepperstone: Over 1,200 financial instruments, including forex (90 currency pairs), indices, commodities, cryptocurrencies, shares.
- IC Markets: Wide range of stock CFD, forex, indices, commodities, and crypto CFDs (Over 2,200 financial instruments).
Customer Support
- Pepperstone: Availability: 24/7 via phone, live chat, and email.
- IC Markets: Availability: 24/7 via email, phone, and live chat.
Deposits and Withdrawals
Pepperstone
- Minimum Deposit: $0
- Methods Available: Credit/debit cards, PayPal, bank transfer, and others.
- Fees: No fees for deposits and withdrawals.
IC Markets
- Minimum Deposit: $200
- Methods Available: Credit/debit cards, PayPal, Neteller, Skrill, bank transfer, and more.
- Fees: No fees for deposits and withdrawals.
User Experience and Feedback
- European Regulation: Many European traders prefer Pepperstone due to its strong regulation within Europe, offering greater security.
- Customer Service: Pepperstone consistently receives recognition for its high-quality customer support.
IC Markets vs Pepperstone: our veredict
Pepperstone
Best overallIC Markets
Best for traders who prioritize low spreads and fast execution, however, keep in mind the regulation issues mentioned before.
Choosing between these two online brokers isn’t always an obvious decision. The differences between Pepperstone vs IC Markets come from the trading platforms, products, regulation, and fees.
Ultimately, the best trading platform for you will depend on your profile, personal preferences, and objectives. Explore the websites above and decide for yourself!
Additionally, always verify whether the broker is regulated in your country and offers the levels of protection and security that you deem essential.
Want to know more about Pepperstone vs IC Markets? Explore our in-depth broker reviews, comparison table, and BrokerMatch tool.
Disclaimer: Trading Forex and CFDs involves significant risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.
