IC Markets vs Pepperstone
If you are reading this article, you’re likely having trouble deciding whether Pepperstone or IG Markets is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.
In this Pepperstone vs IG Markets review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
|Feature||IC Markets (visit site)||Pepperstone (visit site)|
|ASIC, FSA, CySEC||FCA, ASIC, DFSA|
Type of Broker:
U.S. Clients Allowed:
Commissions / Spreads:
|Spreads, Commission||Standard Account is Spread Only|
Features and Platforms
Traders at Pepperstone receive the best MT4/MT5 upgrade available among all brokers, closely followed by what IC Markets offers. Both Australian brokerage powerhouses also offer cTrader as an alternative. MAM/PAMM accounts enable retail account management, and social trading is available via market-leading third-party providers at Pepperstone and IC Markets. Both brokers offer a nearly identical product and services portfolio, including maximum leverage of 1:500 and quality research. IC Markets maintains a better in-depth educational section and is a prime destination for automated trading solutions, while Pepperstone has a volume-based rebate program.
|Type of Platform:||MT4, MT5, cTrader, ZuluTrade, Myfxbook Autotrade||MetaTrader 4, MetaTrader 5, cTrader|
Guaranteed Stop Loss:
Guaranteed Limit Orders:
Interest on Margin:
The similarities between Pepperstone and IC Markets extend into available markets. The former features 61 currency pairs and nine cryptocurrency pairs versus 61 and 10 at the latter. Pepperstone lists 23 commodity instruments, and IC Markets notes 22 commodities and four futures contracts. IC Markets pulls ahead with equities, where traders get 730+ equity CFDs and 25 index CFDs. Pepperstone only has 64 equity CFDs and 14 index CFDs. IC Markets also features eleven bond CFDs versus zero at Pepperstone. Both grant an equal asset selection to Forex, cryptocurrency, and commodity traders, and IC Markets pushed ahead with equities.
Typical Spreads and Fees
With a minimum mark-up of 1.0 pips, which equals $10 per 1.0 standard lot, the commission-free pricing environment at Pepperstone and IC Markets remains equally elevated. Both brokers offer traders a commission-based alternative with access to raw spreads of 0.0 pips for a commission of $7.00 per round lot. Pepperstone has an Active Trader Program, where high-frequency traders can lower the cost to $5.95. Pepperstone and IC Markets levy swap rates on leveraged overnight positions and forward corporate action to clients. Third-party payment processor charges apply at both, where most traders get an identical cost structure.
Security and Trust
Since Pepperstone and IC Markets remain the two most competitive Australian brokers, their primary regulator is the Australian Securities and Investments Commission (ASIC). The former operates units regulated by the UK Financial Conduct Authority (FCA), the Securities Commission of the Bahamas (SCB), and the Dubai Financial Services Authority (DSFA). The latter maintains licenses from the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA). Client deposits remain segregated, and negative balance applies as mandated by regulators. Both brokers rank among the most secure and trustworthy ones globally, with a high degree of transparency.
IC Markets vs Pepperstone – Verdict
Pepperstone and IC Markets offer traders many similarities. It starts with the trading platform choice, where the former delivers the best MT4/MT5 upgrade package and the latter the second-best among all international brokers. Both offer the MAM/PAMM service that supports retail account management, and cTrader is available as a competitive alternative. The maximum leverage is 1:500, and both support social trading via leading third-party providers. Quality in-house research exists at both brokers, and the pricing environment remains identical. Pepperstone does feature a volume-based rebate program, while IC Markets grants new traders with superior educational products. Forex, cryptocurrency, and commodity traders have a similar choice of assets at Pepperstone and IC Markets. The latter takes a notable lead in the equity market, making it an overall better choice for diversified traders. Depending on the needs of traders, both brokers present an excellent solution with IC Markets ahead.
Which trading platform is better: Pepperstone or IC Markets?
The choice of trading platforms at both brokers remains identical. The core MT4/MT5 trading platforms receive the best and second-best upgrade package among all brokers, placing Pepperstone marginally ahead. MAM/PAMM accounts and cTrader are also available.
How many Forex pairs and CFDs are available to trade?
Pepperstone and IC Markets both maintain 61 currency pairs. IC Markets has notable more overall CFDs with 850+ versus 170+ at Pepperstone.
Which is the more reliable broker?
Both brokers have over a decade of experience and maintain an equally safe, secure, and trustworthy brokerage, ranking among the best in the industry.
Which is better, Pepperstone or IC Markets?
With a similar business model, Pepperstone and IC Market offer an almost identical product and services portfolio. Overall, IC Markets takes the lead over Pepperstone due to its broader asset selection and superior educational services.