Pepperstone vs IC Markets: Features, Safety, and More 2024

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Pepperstone and IC Markets are two of the leading forex and CFD brokers that offer online trading services to traders and investors worldwide. Both brokers are highly regulated by top-tier regulatory authorities. Pepperstone is regulated by three Tier-1, two Tier-2, and two Tier-4 jurisdictions, including FCA, ASIC, CySEC, DFSA, CMA, and SCB. On the other hand, the IC Market is regulated by twoTier-1 jurisdictions, one Tier-2 jurisdictions, and two Tier-4 jurisdictions including ASIC, CySEC, SCB, FSA-S, FSCA. These two brokers offer similar services. However, each broker has its own strengths and weaknesses.

In this article, we will compare Pepperstone with IC Markets in terms of trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. We will also explore if Pepperstone is better than IC Markets and vice versa. With this comparison, you can clearly understand which broker is better for your trading style and preferences.

Pepperstone vs IC Markets: In a Nutshell

Pepperstone

Founded in 2010; Pepperstone gives you access to trade more than 1200 forex/CFDs on its powerful platforms; MT4, MT5, cTrader, and TradingView. Courtesy of its technological infrastructure, Pepperstone offers lightning-speed executions, multiple trading tools, and low trading fees. It is regulated in 7 jurisdictions and boasts of over 400,000 clients from all over the world.

Pepperstone At a Glance

Pepperstone At a Glance
  • Founded In: 2010
  • Minimum Deposit: $200
  • Maximum Leverage: 400:1
  • Regulations: ASIC, CySEC, SCB, BaFIN,CMA,DFSA, FCA
  • Trading platform: MT4, MT5, cTrader, DupliTrade, TradingView
  • Account Types: Standard, cTrader raw spread, MetaTrader raw spread , Islamic
  • Payment Options:Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Local Bank Transfers, M-Pesa, Neteller, PayPal, Poli, Skrill, UnionPay
  • US Clients : Not Accepted

IC Markets

Andrew Budzinksi founded IC Markets in 2007 with the aim of using superior technology to provide forex and CFD trading services to both institutional and retail traders. Over the years, the broker has improved in quality and services. It offers true ECN trading with low spreads, high leverage, and fast executions to a global clientele.

ICMarkets Overview

ICMarkets Overview
  • Founded In: 2007 
  • Founder: Andrew Budzinksi
  • Minimum Deposit: $200
  • Maximum Leverage: Upto 1000:1 for FSA Jurisdiction, 30:1 for ASIC, CySEC clients.  
  • Regulations: ASIC, CySEC,  and FSA
  • Trading platform: MT4, MT5 and cTrader
  • Trading Instruments: 2150+ Trading Instruments including Forex, Crypto, Stock, Commodity Indices, Bonds, Futures.
  • Account Types: Standard, Standard, Raw (Metatrader, Ctrader) 
  • Fees: Spread starting from 0.8 Pips(Standard Accounts) or $3 to 3.5 Commission (Raw Accounts)
  • Payment Options: bank/wire transfer, Paypal, credit card, Skrill, Neteller, UnionPay, Bpay, FasaPay and Poli.
  • US Traders: Not Accepted 

Pepperstone vs IC Markets: Pros and Cons

Pepperstone

Pros
  • Regulated in 7 Reputed Jurisdictions (FCA in the UK, CySEC in Cyprus, ASIC in Australia, BaFin in Germany, DFSA in Dubai, CMA in Kenya, and SCB in the Bahamas) 
  • Fast order execution (fast execution on an average of 30 ms) 
  • Competitive spread starting from 0.0 pips 
  • Segregated clients fund with tire 1 bank 
  • No Inactivity Fees 
  • Attractive Trading Conditions 
  • Wide Range of Instruments Offered 
  • Fast and full online account opening 
  • MT4 Smart trader tools, Autochartist, Capitalise.ai, and free VPS are some of the trading tools available.
Cons
  • US Traders not allowed 
  • Only CFDs are Offered 
  • No cent/Micro Account 
  • Minimum deposit 200
  • Support works only 24/5  
  • Limited account protection for non-U.K./E.U. clients
  • No guaranteed Stop loss 
  • 30-day expiry for demo accounts

IC Markets

Pros
  • Fully Regulated broker, ( One tire-1 , jurisdiction, one tire-2 jurisdiction) 
  • Super fast trade execution speed 
  • Straightforward registration process 
  • Low spread, starting from 0 pips. 
  • Easy and Fast Account Opening 
  • Free deposit and withdrawal 
  • Offers standard and raw spread account
  • Trading EA is Allowed 
  • Ability to trade from a mobile device 
  • A demo Account is available
Cons
  • Higher minimum deposit 
  • No investor protection for non-EU Clients 
  • Limited Product Selection 
  • No weekend Trading 
  • US Traders are not accepted

Pepperstone vs IC Markets: Side-by-Side Comparison

Pepperstone
IC Markets
Product
Founded In
Founded In
2010
2007
Founded By
Founded By
Owen Kerr and Joe Davenport
Andrew Budzinksi
Headquarters
Headquarters
Melbourne, Australia
Sydney, Australia
Regulations
Regulations
FCA, ASIC, SCB, CMA, CySEC and BaFin
ASIC, CySEC, FSA, and SCB
Min Deposit
Min Deposit
None
$200
Max Leverage
Max Leverage
1:500
1:1000
Tradable Assets
Tradable Assets
Over 1200 forex, CFDs in stocks, indices, commodities, ETFs and Cryptos
Over 2100 forex, CFDs in stocks, indices, commodities, cryptos, and Bonds.
Fees
Fees
Spread from 1.0 pips, commissions $7/round lot
Spreads from 0.6 pips, Commissions $7/round lot
Platforms and Tools
Platforms and Tools
MT4, MT5, cTrader, TradingView
MT4, MT5, and cTrader
US Traders
US Traders
Not Allowed
Not allowed

Pepperstone Vs IC Markets: Our Scores and Ratings

We rated both brokers, Pepperstone and IC Markets, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

Pepperstone :

9.4
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)9.2
Trading (15%)8.5
Trading tools (10%)9
Customer Support (10%)9.6
Trading Education (5%)8

IC Markets:

9.3
IC Markets Scores
Regulation and Security (40%)9.5
Fees and Commissions (20%)9.5
Trading (15%)8.5
Trading tools (10%)9
Customer Support (10%)9.6
Trading Education (5%)9.4

Final Verdict :

Pepperstone and IC Markets are both top-tier forex and CFD brokers in the industry. They are both experienced brokers who offer excellent trading services that suit beginners, professionals, and even institutional traders. Their fees are minimal while their services are top-notch.

However, there are a few areas where one suits better than the other. For example, if you are a forex trader who trades major currencies and prefers to trade marked-up spreads; then IC Market is recommended because it comes with lower spreads than Pepperstone.

Beginners might find IC Markets’ trading resources and demo account more convenient than that of Pepperstone, which expires after 30 days. Pepperstone is best for pros who need highly regulated brokers and use professional platforms like TradingView.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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