IC Markets vs Pepperstone Forex Broker Comparison
A head-to-head comparison of IC Markets and Pepperstone across regulation, trading costs, platforms, and editorial scoring.
Score 4.7 / 5
4 bonusesTrue ECN routing with raw 0.0 pip spreads on majors plus commission, deep liquidity, and the cleanest MT4 / MT5 / cTrader stack we test.
VS
Score 4.7 / 5
4 bonusesMulti-regulated Australian ECN-style broker with fast execution, MT4 / MT5 / cTrader / TradingView and a strong active-trader rebate program.
Our Verdict
Too close to call
IC Markets and Pepperstone are extremely closely matched with scores of 4.7/5 and 4.7/5. The right choice depends on your individual trading priorities.
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
It's a tie
Both equally suited
Both brokers offer spreads from 0 pips.
Best for safety & regulation
It's a tie
Both equally suited
Both brokers show an equally strong safety profile across regulation, fund protection, and client safeguards.
Best for platform choice
Recommended
Pepperstone offers more exclusive platform options: IRESS.
Best for beginners
Recommended
Both brokers share the same editorial score of 4.7/5, but Pepperstone requires a lower minimum deposit ($0 vs $200 for IC Markets), making it more accessible for new traders.
IC Markets vs Pepperstone: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.7/ 5 | 4.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.6 / 5 | 4.8 / 5▲ |
Fees & Spreads 30% weight | 5.0 / 5▲ | 4.8 / 5 |
Platforms & Tools 20% weight | 4.6 / 5 | 4.6 / 5 |
Customer Support 10% weight | 4.5 / 5 | 4.6 / 5▲ |
| Founded | 2007 | 2010 |
| Headquarters | Sydney, Australia | Melbourne, Australia |
| Min deposit | $200 | No minimum |
| Spreads from | 0 pips | 0 pips |
| Commission / lot | $7/lot | $7/lot |
| Max leverage | 500:1 | 500:1 |
| Withdrawal fee | Free | Free |
| Regulators | FSCA ASIC CySEC | FCA ASIC CySEC DFSA BaFin FMA |
| Platforms | MetaTrader 4 MetaTrader 5 cTrader TradingView | MetaTrader 4 MetaTrader 5 cTrader TradingView IRESS |
| Active bonuses | ||
| Visit broker | Visit IC Markets | Visit Pepperstone |
IC Markets vs Pepperstone Forex Broker Pros & Cons
Pros
True ECN routing with raw 0.0 pip spreads
All three major platforms (MT4, MT5, cTrader)
Deep liquidity from 25+ tier-1 sources
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
FCA, ASIC, BaFin, CySEC, DFSA licensed
Razor account: tight spreads + transparent commission
TradingView + MT4 / MT5 / cTrader
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Cons
Not available to US residents
Higher minimum deposit than IG/OANDA
No proprietary platform
Cons
Not available to US residents
No proprietary platform
IC Markets vs Pepperstone: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
Highlighted rows show where the two brokers differ
| Criteria | IC Markets | Pepperstone |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
IC Markets vs Pepperstone: Frequently Asked Questions
IC Markets and Pepperstone share the same editorial score of 4.7/5. The right choice depends on your priorities: trading costs, platform preference, or regulatory coverage.
Both IC Markets and Pepperstone offer spreads starting from 0 pips, making them equivalent on this metric. Consider commissions and account types when evaluating total trading costs.
Pepperstone has a lower minimum deposit of no minimum required, while IC Markets requires at least $200. This makes Pepperstone more accessible for traders with limited starting capital.
Both IC Markets and Pepperstone hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Both are considered safe. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners: Pepperstone has a lower minimum deposit (no minimum), lowering the barrier to entry; both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
IC Markets offers maximum leverage of 500:1, while Pepperstone offers up to 500:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
Both IC Markets and Pepperstone charge the same commission of $7 per lot on applicable accounts.
IC Markets supports MetaTrader 4, MetaTrader 5, cTrader, TradingView and Pepperstone offers MetaTrader 4, MetaTrader 5, cTrader, TradingView, IRESS; both support MetaTrader 4, MetaTrader 5, cTrader, TradingView; Pepperstone exclusively offers IRESS.
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Score 4.7 / 5
Score 4.7 / 5
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