IC Marketsvs
PepperstoneStock Broker Comparison
Two ECN-oriented brokers, IC Markets and Pepperstone, clash over exchange reach, regulation, and platform depth, highlighting how cost and access shape stock CFD choices.
Our Verdict
IC Markets winsby 0.2 pts
IC Markets and Pepperstone are closely matched overall. IC Markets gains a differentiator through phone support, as Pepperstone offers no phone support.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1Phone support available with IC Markets but not Pepperstone.
- 2IC Markets covers 12 exchanges versus Pepperstone’s 8.
- 3Pepperstone has a broader regulator footprint than IC Markets.
Who should choose IC Markets vs Pepperstone?
Find out which stock broker best suits your investing profile.
Choose IC Markets if…
Choose IC Markets if you want direct phone support and access to 12 exchanges.
Choose Pepperstone if…
Choose Pepperstone if you want a broader regulator footprint and higher leverage.
Verdict by Trader Profile
Which broker wins for each type of stock trader, based on costs, safety, features, and editorial scoring.
Best for safety & regulation
It’s a tie
Both equally suited
Pepperstone has a broader regulator footprint than IC Markets.
Best for active traders
It’s a tie
Both equally suited
IC Markets vs Pepperstone: Side-by-Side Stock Broker Comparison
 |  | |
|---|---|---|
| Editorial score | 4.1/ 5 | 3.9/ 5 |
| Min deposit | $200 | No minimum▼ lower |
| Spreads from | 0 pips | 0 pips |
| Commission / lot | $7/lot | $7/lot |
IC Markets vs Pepperstone Stock Broker Pros & Cons
Pros
- 2,000+ share CFDs across US, UK, ASX, European, and Asian exchanges on MT5 and IRESS
- IRESS provides genuine DMA access to ASX and major global equity markets
- Commission-transparent pricing: USD 0.02/share on US stocks, no spread markup
- ASIC and CySEC regulated, tier-1 regulatory coverage for equity CFD trading
Cons
- CFDs only, no real share ownership, ISA wrapper, or dividend reinvestment programme
IC Markets vs Pepperstone: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
1
IC Markets
criteria win
0
Pepperstone
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | IC Markets | Pepperstone |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, SEC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS, SIPC) | Pass | Pass |
| Costs | ||
| Commission-free trading | Fail | Fail |
| Features | ||
| Fractional shares | Fail | Fail |
| Dividend reinvestment (DRIP) | Fail | Fail |
| Extended hours trading | Fail | Fail |
| IPO access | Fail | Fail |
| Short selling | Pass | Pass |
| Stock screener tool | Fail | Fail |
| Support | ||
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Fail |
IC Markets vs Pepperstone: Frequently Asked Questions
The scores are close: IC Markets rates 4.1/5 and Pepperstone rates 3.9/5. IC Markets has a marginal edge in our scoring, but the difference is small enough that your specific priorities — fees, platforms, or regulatory jurisdiction — should guide the final choice.
Both IC Markets and Pepperstone start from the same spread of 0. For stock trading, also compare per-trade or per-share commissions to determine the total cost per transaction.
Pepperstone has no minimum deposit, 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. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, two factors stand out: Pepperstone has no minimum deposit, removing the capital barrier entirely, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
IC Markets lists maximum leverage of 5:1, while Pepperstone lists up to 20:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
Both IC Markets and Pepperstone charge the same commission of $7 per trade on applicable accounts. Stock commissions may be charged as a flat rate per trade or per share; confirm the exact structure on each broker's website.
IC Markets supports cTrader, MetaTrader 5, TradingView, MetaTrader 4, while Pepperstone supports cTrader, IRESS, MetaTrader 5, TradingView, MetaTrader 4. Both provide cTrader and MetaTrader 5 and TradingView and MetaTrader 4. Pepperstone has exclusive access to IRESS.
Neither IC Markets nor Pepperstone is listed as offering commission-free trading in our data. Compare each broker's commission schedule directly, as fees vary by account type and the markets you trade.
Both IC Markets and Pepperstone are covered by a compensation scheme according to our data, providing an additional safety net for your stock investments. Confirm the specific scheme and coverage limit that applies to your account before depositing.
