Head-to-head · 2026
IC Markets vs Pepperstone
Pepperstone edges it overall with 4.6 versus 4.4, winning 4 of six categories. Both brokers cost about the same to trade on EUR/USD.
Pepperstone
Active traders who want tier-1 regulation and raw pricing
4.6/5
Visit PepperstoneFull review| Feature | IC Markets | Pepperstone |
|---|---|---|
| Overall score | 4.4 | 4.6 |
| EUR/USD standard spread | 0.8 pips | 1.1 pips |
| Raw account | 0.1 + $7 | 0.1 + $7 |
| Cheapest cost per lot | $8.0 | $8.0 |
| Minimum deposit | $200 | $0 |
| Tier-1 regulators | ASIC, CySEC | ASIC, FCA, CySEC, BaFin |
| All regulators | ASIC, CySEC, FSA (Seychelles), SCB (Bahamas) | ASIC, FCA, CySEC, BaFin, DFSA, CMA (Kenya), SCB (Bahamas) |
| Founded | 2007 | 2010 |
| Currency pairs | 61+ | 90+ |
| Max leverage | 1:500 (1:30 ASIC/EU retail) | 1:500 pro / 1:30 retail |
| Platforms | MT4, MT5, cTrader, TradingView | MT4, MT5, cTrader, TradingView, Pepperstone App |
| Copy trading | Yes | Yes |
| Swap-free accounts | Yes | Yes |
| US clients | No | No |
Highlighted cells mark the better value where one is clearly better. Data checked October 2026.
Category by category
Costs: IC Markets vs Pepperstone
Both brokers cost about the same to trade on EUR/USD. On its standard, commission-free account IC Markets quotes around 0.8 pips on EUR/USD. On its standard, commission-free account Pepperstone quotes around 1.1 pips on EUR/USD. Both offer raw-spread pricing: IC Markets at $7 and Pepperstone at $7 per round-turn lot.
Regulation and safety
IC Markets is regulated by ASIC, CySEC, FSA (Seychelles), SCB (Bahamas). Pepperstone is regulated by ASIC, FCA, CySEC, BaFin, DFSA, CMA (Kenya), SCB (Bahamas). Pepperstone scores higher for trust in our methodology. Both are available in Australia, European Union and Most other countries. Only IC Markets serves South Africa. Only Pepperstone serves United Kingdom.
Platforms
Both support MT4, MT5, cTrader, TradingView. IC Markets offers MT4, MT5, cTrader, TradingView; Pepperstone offers MT4, MT5, cTrader, TradingView, Pepperstone App.
Which should you choose?
Choose IC Markets if…
- raw spreads averaging around 0.1 pips on EUR/USD
- mT4, MT5, cTrader and TradingView all supported
- fast execution suited to scalping and expert advisors
Choose Pepperstone if…
- razor account with raw spreads and $7 round-turn commission
- fCA, ASIC, CySEC and BaFin regulation
- mT4, MT5, cTrader and TradingView
Frequently asked questions
Is IC Markets better than Pepperstone?
Pepperstone edges it overall with 4.6 versus 4.4, winning 4 of six categories. Both brokers cost about the same to trade on EUR/USD.
Which is safer, IC Markets or Pepperstone?
Pepperstone scores higher for trust (4.8 vs 4.4), with tier-1 regulation from ASIC, FCA, CySEC, BaFin.
Which has the lower minimum deposit?
Pepperstone has the lower minimum at $0, compared with $200.
Do IC Markets and Pepperstone both offer MetaTrader?
IC Markets: MT4, MT5. Pepperstone: MT4, MT5.
Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly. Between roughly 60% and 89% of retail investor accounts lose money when trading CFDs, depending on the provider. Consider whether you understand how they work and can afford to lose your money. Read the full risk warning.