IC Markets vs Pepperstone
Two of the best raw spread brokers compared on spreads, platforms, regulation, and execution.
Verdict: Both are excellent brokers. IC Markets edges ahead for pure execution speed and scalping. Pepperstone offers broader regulation and TradingView integration. Neither is a wrong choice.
IC Markets vs Pepperstone: Side by Side
| Feature | IC Markets | Pepperstone |
|---|---|---|
| Founded | 2007 | 2010 |
| Regulation | ASIC, CySEC, FSA | FCA, ASIC, CySEC + 4 more |
| Min Deposit | $200 | $0 |
| Spreads From | 0.0 pips | 0.0 pips |
| Commission (Raw) | $3.50/lot/side | $3.50/lot/side |
| Leverage | Up to 1:500 | Up to 1:400 |
| Platforms | MT4, MT5, cTrader | MT4, MT5, cTrader, TradingView, Pepperstone Platform |
| Instruments | 60+ | 1,350+ |
| Execution Speed | <40ms | <30ms |
Spreads and Costs
Both brokers offer identical pricing: 0.0 pips from raw spreads with $3.50 per lot per side commission. In practice, average spreads on EUR/USD are very similar at 0.0 to 0.2 pips. The real difference is that Pepperstone has no minimum deposit while IC Markets requires $200. For cost-conscious traders, both are among the cheapest options available.
Regulation
Pepperstone wins on regulation with seven licenses including the FCA (UK), the strongest retail forex regulator globally. IC Markets holds three licenses including ASIC. Both segregate client funds. For traders who prioritize regulatory safety, Pepperstone has a clear edge.
Platforms
Both support MT4, MT5, and cTrader. Pepperstone now offers 5 platforms total, adding TradingView integration and their own proprietary Pepperstone Trading Platform (browser, Android, iOS). IC Markets sticks with 3. For platform variety, Pepperstone has a clear edge. Pepperstone also supports 1,350+ instruments including ETFs and CFD forwards, compared to IC Markets' 60+.
Execution and Scalping
Both brokers are excellent for scalping with no dealing desk, deep liquidity, and fast execution. IC Markets has a long-standing reputation as the scalper's broker of choice, but Pepperstone's execution has improved significantly and is now comparable. Both allow EAs, hedging, and all trading styles.