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.
Overall
Overall
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.
Pepperstone (founded 2010) and IC Markets (founded 2007) are online brokers that are not publicly traded and are not banks. According to ForexBrokers.com, Pepperstone has a Trust Score of 94/99, placing it in the highly trusted range (90–99). IC Markets scores 83/99, which falls in the trusted range (80–89).
On regulation, Pepperstone holds 3 Tier-1 licenses (highly trusted) and 2 Tier-2 licenses (trusted). IC Markets holds 2 Tier-1 licenses and no Tier-2 licenses. In simple terms, Pepperstone shows a wider mix of top-tier and mid-tier oversight, while IC Markets has strong top-tier coverage but fewer additional licenses. Always confirm which licensed entity your account will be opened under.
| 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 |
Pepperstone and IC Markets are both strong choices for low trading costs, but IC Markets has a slight edge on overall commissions and fees. Pepperstone earns 5 stars and ranks #6 out of 36 brokers for commissions and fees, with its best pricing on the commission-based Razor account. On that account, Pepperstone listed an average EUR/USD spread of 0.10 pips, and after adding commission, the all-in cost came to about 0.80 pips. Its Standard account is free of commission, but the average EUR/USD spread of 1.1 pips makes it the pricier option.
IC Markets also earns 5 stars, but ranks slightly higher at #5 out of 36 brokers. It offers three account types, including commission-free Standard and commission-based Raw Spread accounts. For EUR/USD, IC Markets listed an average spread of 0.02 pips on its commission-based setup, with all-in costs around 0.62 pips on cTrader and 0.72 pips on MetaTrader, making it one of the more affordable options for active forex traders.
For frequent traders, both brokers offer fee discounts. Pepperstone’s Active Trader program can reduce costs through spread rebates, especially for professional clients in the UK, EU, and Australia. IC Markets also gives discounts to traders who exceed 100 standard lots per month. In simple terms, Pepperstone is a good low-cost broker, but IC Markets is generally the better pick if your main goal is keeping commissions and trading fees as low as possible.
| Feature |
Pepperstone
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $10 | $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.
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Pepperstone and IC Markets both give traders access to forex as a CFD or spot contract, and both support copy trading along with cryptocurrency CFDs. Neither broker offers access to actual delivered crypto or U.S.-listed exchange traded shares, so if you want to buy Apple stock directly, neither platform provides that option. Pepperstone offers 1,726 tradeable symbols and 65 forex pairs, while IC Markets lists a larger overall selection with 3,583 tradeable symbols and 61 forex pairs.
One key difference is that IC Markets offers exchange traded securities on international markets, such as shares listed outside the U.S., while Pepperstone does not. In terms of range of investments, both brokers are close, but IC Markets has the edge with a 4.5-star rating and a #22 ranking from ForexBrokers.com, compared with Pepperstone’s 4-star rating and #23 ranking. For traders looking for a wider mix of markets, IC Markets comes out slightly ahead, while Pepperstone still offers a strong lineup focused on forex and CFDs.
| 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 give traders a wide range of platform choices, making each a solid pick for those who want flexibility. Each broker offers a free demo account, desktop and web-based trading platforms, copy trading, MetaTrader 4, and MetaTrader 5. Both also let users trade directly from charts, which can make placing orders quicker and easier for active traders. In terms of trading platforms and tools, both brokers are rated 4 out of 5 stars.
The main difference is that Pepperstone offers its own proprietary platform, while IC Markets does not. That may matter for traders who want a broker-built platform alongside popular third-party options. On ForexBrokers.com, IC Markets ranks higher in the Trading Platforms and Tools category at #17 out of 36 brokers, compared with Pepperstone at #21. Overall, both brokers are well matched, but IC Markets has a slight edge in ranking, while Pepperstone stands out for having an in-house platform.
| 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 offer mobile trading apps for iPhone and Android, and each includes price alerts, 30 technical studies, trendline drawing, and auto-saving chart drawings. Both brokers also earn a 4-star rating for mobile trading apps, so day-to-day trading features are very similar across the two platforms. In short, either app gives traders the core tools they need to monitor markets and manage trades on the go.
The main difference is watchlist syncing. Pepperstone lets you sync watchlists between the mobile app and your online account, so changes carry over both ways, while IC Markets does not offer that feature. That edge helps Pepperstone stand out slightly for convenience and account consistency, which may also help explain why ForexBrokers.com ranks Pepperstone higher for mobile trading apps, at #19 out of 36 brokers, compared with IC Markets at #22.
| 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 both offer strong market research features for everyday traders. Each provides daily market commentary, forex news from major sources like Bloomberg, Reuters, and Dow Jones, plus an economic calendar to track upcoming global events. Both also include Autochartist tools and sentiment data that help show whether traders are leaning long or short on a pair or instrument.
The main difference is that IC Markets adds Trading Central research tools, while Pepperstone does not. Even so, Pepperstone scores slightly higher overall for research, with a 4.5-star rating and a ForexBrokers.com ranking of #13 out of 36 brokers, compared with IC Markets at 4 stars and #21. Neither broker offers TipRanks or Acuity Trading tools.
| 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 give beginners plenty of learning material, including more than 10 education pieces focused on forex or CFDs, monthly online webinars, and at least 10 beginner and 10 advanced videos. That means either broker can be a good starting point if you want to learn the basics and keep building your skills over time. In simple terms, they both cover the key areas a new trader would expect from a broker’s learning section.
Where Pepperstone edges ahead is in third-party ratings. Pepperstone is rated 4.5 out of 5 for Education and ranks #15 out of 36 brokers on ForexBrokers.com, while IC Markets is rated 4 out of 5 and ranks #16. The difference is small, but Pepperstone has a slight lead overall for educational support, making it the better pick for beginners who want the stronger learning package.
| 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
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 83 |
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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 | 94 | 83 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | IC Markets Review |
| Broker Screenshots | Pepperstone | IC Markets | |
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| Regulation | Pepperstone | IC Markets | |
|---|---|---|---|
| Trust Score | 94 | 83 | |
| 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 CMA 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 | $10 | $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 | 94 | 83 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | IC Markets Review |
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