Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs IC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When comparing Pepperstone and IC Markets, both established online brokers, it's important to consider their regulatory status and Trust Scores. Pepperstone, founded in 2010, holds three Tier-1 and two Tier-2 licenses. These licenses contribute to its impressive Trust Score of 95 out of 99, categorizing it as highly trusted according to ForexBrokers.com. This strong regulatory foundation reflects Pepperstone's commitment to providing a secure trading environment, even though it is neither a publicly traded company nor a bank.
Meanwhile, IC Markets was founded in 2007 and also operates as a private entity without banking status. It holds two Tier-1 licenses but lacks Tier-2 licenses, resulting in a ForexBrokers.com Trust Score of 84. This score still places IC Markets in the trusted category, though it signifies a slightly higher risk than Pepperstone. Both brokers offer reliable services, but Pepperstone's higher Trust Score and greater number of licenses make it the more preferred choice in terms of regulatory standing.
| Feature |
Pepperstone
|
IC Markets
|
|---|---|---|
| Year Founded | 2010 | 2007 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 3 |
Looking at commissions and fees, IC Markets generally edges out Pepperstone on all-in trading costs for EUR/USD, especially on its commission-based accounts. IC Markets earns 5 stars and ranks #5 out of 63 brokers for Commissions & Fees, while Pepperstone earns 4.5 stars and ranks #6. Both offer a commission-free Standard account and lower-spread, commission-based accounts that tend to suit active traders.
Pepperstone’s Razor account listed an average EUR/USD spread of 0.10 pips (July 2024); after adding the commission-equivalent of 0.70 pips, the all-in cost comes to 0.80 pips. Razor can be used on TradingView, MetaTrader (MT4/MT5), or cTrader. Pepperstone’s Standard account is commission-free with an average spread of 1.1 pips, making it pricier than Razor. Active Trader rebates can lower costs further: in the U.K. and EU, eligible Professional clients trading at least £20 million per month may get about 15% off per lot, rising to 25% above £200 million. In Australia, Professional clients starting from 100 lots over three months can get roughly 10% off per lot, with reductions up to 30% for more than 3001 lots per month.
IC Markets lists an average EUR/USD spread of 0.02 pips (August 2022). After commissions, the all-in cost is about 0.62 pips on the cTrader Raw Spread account ($3.0 per side, $6 round turn per 100k) or about 0.72 pips on the MetaTrader Raw Spread account ($3.5 per side, $7 round turn). IC Markets also offers a commission-free Standard account with an average 0.62-pip spread, plus discounts for traders who exceed 100 standard lots per month. Pricing can vary by platform and the IC Markets entity you choose (EU/Cyprus, Australia, or Seychelles).
| Feature |
Pepperstone
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $200 |
| Average spread (EUR/USD) - Standard account | 1.1 | 0.62 |
| All-in Cost EUR/USD - Active | 0.8 | 0.62 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and IC Markets both support forex trading as CFDs or spot and include copy trading. Pepperstone lists 1,726 tradeable instruments with 65 forex pairs, while IC Markets offers 3,583 symbols and 61 forex pairs. Each lets you trade cryptocurrency via CFDs, but neither broker lets you buy actual crypto.
Neither broker provides exchange-traded U.S. shares, but IC Markets does offer exchange-traded international shares, whereas Pepperstone does not. For range of investments, IC Markets earns 4.5/5 stars and ranks #22 of 63 (ForexBrokers.com); Pepperstone scores 4/5 stars, ranking #23. Choose Pepperstone if you want a few more forex pairs; pick IC Markets if you prefer more total markets and access to international exchange-traded shares.
| Feature |
Pepperstone
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 3583 |
| Forex Pairs (Total) | 65 | 61 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Pepperstone and IC Markets both check the key boxes for traders who want flexible, easy-to-use platforms and tools. Each broker offers a free demo account for practice, web-based and Windows desktop platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), copy trading, and the ability to place orders directly from charts. A notable difference is that Pepperstone also provides its own proprietary platform, while IC Markets sticks to third‑party options like MT4/MT5.
For Trading Platforms and Tools, both brokers earn 4 out of 5 stars from ForexBrokers.com. In the category rankings, IC Markets places #17 out of 63 brokers, while Pepperstone ranks #21. If you prefer having a broker-built platform alongside MetaTrader, Pepperstone may appeal; if you’re happy with established third‑party platforms and value a slightly higher category ranking, IC Markets has an edge.
| Feature |
Pepperstone
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and IC Markets both deliver capable mobile trading apps for iPhone and Android. Each app supports stock and forex price alerts, 30 technical studies for charting, the ability to draw trendlines, and auto-saving of your chart drawings. Both earned 4 out of 5 stars for Mobile Trading Apps from ForexBrokers.com, signaling a solid experience for on-the-go traders.
The key difference is watchlist syncing. Pepperstone syncs watchlists between the mobile app and your online account, so changes carry over automatically, while IC Markets does not. If cross-device convenience matters to you, Pepperstone has the edge. In ForexBrokers.com’s rankings out of 63 brokers, Pepperstone sits at #19 and IC Markets at #22, a small gap that mirrors their largely similar toolsets and performance.
| Feature |
Pepperstone
|
IC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Pepperstone and IC Markets offer strong market research for everyday traders. Both provide daily market commentary and forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. Each includes Autochartist tools for trade ideas, a sentiment gauge showing long/short positioning, and an economic calendar for global events. Neither broker features TipRanks or Acuity Trading’s Signal Centre.
The standout difference is Trading Central: IC Markets includes Trading Central analytics, while Pepperstone does not. Even so, Pepperstone holds the higher research marks—4.5/5 stars and a #12 rank out of 63 brokers—versus IC Markets at 4/5 stars and #21. If you want Trading Central specifically, IC Markets has the edge; if overall research quality and ranking matter more, Pepperstone comes out ahead.
| Feature |
Pepperstone
|
IC Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone and IC Markets both deliver beginner-friendly education for forex and CFDs. Each runs client webinars at least once a month and offers 10+ beginner videos that cover trading basics, platforms, and risk management. They also add 10+ advanced videos, so newcomers can progress to more complex topics without leaving the same learning hub.
When it comes to quality scores, Pepperstone has a slight edge: 4.5 out of 5 stars and ranked 15th out of 63 brokers for Education by ForexBrokers.com, while IC Markets holds 4 stars and ranks 16th. If you want the higher-rated learning path, Pepperstone may suit you better. If your priority is frequent webinars and a sizable video library, IC Markets is a solid alternative.
| Feature |
Pepperstone
|
IC Markets
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Pepperstone is better than IC Markets. Pepperstone finished with an overall rank of #17, while IC Markets finished with an overall rank of #21.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
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IC Markets
|
|---|---|---|
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| Trust Score | 95 | 84 |
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Pepperstone vs IC Markets: neither online broker offers buying actual (delivered) cryptocurrency, but both support crypto trading via cryptocurrency CFDs.
Pepperstone vs IC Markets: for deposits and withdrawals, both support bank wire transfers and PayPal, Pepperstone also offers ACH/SEPA but not Skrill, while IC Markets lacks ACH/SEPA yet supports Skrill; Visa/Mastercard availability isn’t specified for either broker based on the provided details.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Pepperstone | IC Markets | |
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| Trust Score | 95 | 84 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | IC Markets Review |
| Broker Screenshots | Pepperstone | IC Markets | |
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| Regulation | Pepperstone | IC Markets | |
|---|---|---|---|
| Trust Score | 95 | 84 | |
| Year Founded | 2010 | 2007 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 3 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Pepperstone | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 3583 | |
| Forex Pairs (Total) | 65 | 61 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Pepperstone | IC Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.1 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.8 | 0.62 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $200 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | Pepperstone | IC Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | Yes |
| Trading Tools | Pepperstone | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | IC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Pepperstone | IC Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | IC Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Pepperstone | IC Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Pepperstone Review | IC Markets Review |
| Overall | Pepperstone | IC Markets | |
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| Trust Score | 95 | 84 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | IC Markets Review |
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