Pepperstone vs IC Markets

Pepperstone or IC Markets – which is better for UK traders 2024? Compare Pepperstone and IC Markets in this detailed breakdown of their platforms, features and fees.

Pepperstone vs IC Markets Comparison Table 2024
Pepperstone IC Markets
rating empty
rating full
4.8
rating empty
rating full
4.8
Pepperstone is ranked #7 among CFD brokers. IC Markets is ranked #9 among CFD brokers.
Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for traders at all levels. IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
Pros
  • Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for trading.
  • There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
  • Pepperstone emerges as a low-cost broker, especially for serious traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
  • Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
  • Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
  • IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for traders.
  • As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
  • With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.
  • IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
  • You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
Cons
  • There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to trading.
  • Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
  • Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
  • Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
  • While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
  • The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
  • There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
  • Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
  • Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
Awards
  • Best Forex Broker - DayTrading.com 2024
  • Best Overall Broker - DayTrading.com 2023
  • Best Trading App - DayTrading.com 2022
  • Best Forex Broker - DayTrading.com 2021
  • Best MT4 Broker - Good Money Guide 2023
  • #1 Overall Client Satisfaction - UK Investment Trends 2022
  • #1 Value for Money - UK Investment Trends 2022
  • #1 Quality of Trade Execution - UK Investment Trends 2022
  • #1 Ease of Platform Navigation - UK Investment Trends 2022
  • #1 Charting - UK Investment Trends 2022
  • Best Forex Broker Overall - Compareforexbrokers.com 2022
  • Best MT4 Broker - Good Money Guide Best MT4 Broker 2022
  • Top 5 MetaTrader brokers - Broker Chooser Top 5 MetaTrader Brokers 2022
  • Best MT4/MT5 Broker 2023 - DayTrading.com
  • Best Forex Broker 2022 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Trading App 2020 - DayTrading.com
FCA Regulated
Yes No

List of FCA Regulated Brokers

Instruments
CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto(only Pro clients), Spread Betting CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
Demo Account
Yes Yes
Minimum Deposit
$0 $200
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB ASIC, CySEC, FSA
Mobile Apps
iOS & Android iOS & Android
Trading App

Pepperstone excels for its excellent integration with the MT4, MT5, cTrader, and TradingView apps, making it a standout option for traders familiar with these leading third-party trading solutions. Despite the absence of a proprietary app, these platforms deliver a stable and reliable mobile trading experience, enhanced by Pepperstone’s almost unrivalled execution speeds and wide range of asset classes.

IC Markets deliver mobile apps for their cTrader, MT4, MT5 and TradingView  platforms. They have been developed on Android and iOS separately, taking full advantage of the functionality available on each. With raw pricing, and spreads from 0.0, the apps deliver an excellent trading tool for all levels of trader. Yet what really stands out is how they’ve managed to maintain the lightning-fast execution speed IC Markets is known for, right within the apps. It’s a seamless trading experience that feels both professional and highly responsive.

iOS App Rating
rating empty
rating full
4.4
rating empty
rating full
3.1
Android App Rating
rating empty
rating full
4.1
rating empty
rating full
4.2
Margin Trading
Yes Yes
MetaTrader 4
Yes Yes
MetaTrader 5
Yes Yes
cTrader
Yes Yes
AlgoTrader
No No
OmniTrader
No No
TradingView
Yes Yes
Autochartist
Yes No
eSignal
No No
Trading Central
No Yes
STP Account
Yes No
ECN Account
Yes Yes
DMA Account
Yes Yes
MAM Account
Yes Yes
PAMM Account
Yes Yes
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
Yes No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade
Copy Trading
Yes Yes
Copy Trading Platform
Pepperstone facilitates the replication of experienced traders' strategies through MetaTrader Signals and DupliTrade. However, it lacks support for cTrader Copy and does not offer a proprietary social trading network similar to those found on platforms like eToro or Vantage, which foster lively social trading communities for aspiring traders. Launched in February 2023, the IC Social app offers an intuitive way to learn, share, and mirror the positions of other traders with just a few clicks. Additionally, the app features risk management tools and supports dedicated trading groups. Alternatively, IC Markets grants access to Signal Start, along with well-known third-party copy trading platforms including ZuluTrade and cTrader Copy.
Social Trading
No Yes
Trade Signals
Yes (Via Chartist Software) Signal Start
VPS Hosting
Yes Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0 $0
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • JPY
  • CHF
  • HKD
  • SGD
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • JPY
  • CHF
  • HKD
  • SGD
Commodities
  • Gold
  • Silver
  • Oil
  • Corn
  • Palladium
  • Precious Metals
  • Platinum
  • Copper
  • Gasoline
  • Cocoa
  • Coffee
  • Cotton
  • Livestock
  • Sugar
  • Wheat
  • Natural Gas
  • Soybeans
  • Orange Juice
  • Aluminium
  • Nickel
  • Zinc
  • Gold
  • Oil
  • Silver
  • Orange Juice
  • Cocoa
  • Coffee
  • Corn
  • Soybeans
  • Sugar
  • Wheat
  • Natural Gas
CFD
Pepperstone maintains its position as one of the fastest and most dependable CFD brokers during our latest round of testing. With execution speeds averaging around 30ms and an outstanding fill rate of 99.90%, the broker ensures a seamless trading experience without requotes or dealing desk interference. It also provides ample trading opportunities across over 1,300 assets. You gain access to over 2,250 CFDs, available for trading 24/5 across popular markets such as forex, commodities, indices, stocks, and bonds. Utilizing deep liquidity and advanced bridge technology, IC Markets ensures optimal conditions for scalpers, hedgers, and algo traders alike.
Leverage
1:30 (Retail), 1:500 (Pro) 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
FTSE Spread
1.0 1.0
GBPUSD Spread<
0.4 0.23
Oil Spread
2.5 0.03
Stocks Spread
0.02 0.02
Forex
Pepperstone offers ultra-competitive forex spreads averaging 0.12 pips on EUR/USD in the Razor account, accompanied by a diverse portfolio comprising 100+ currency pairs - an extensive selection surpassing most competitors. Additionally, Pepperstone distinguishes itself by offering three currency indices (USDX, EURX, JPYX), not commonly found among alternative platforms. Pepperstone has now won our annual 'Best Forex Broker' award twice. IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.
Assets
100+ 75
GBPUSD Spread
0.4 0.23
EURUSD Spread
0.1 0.02
EURGBP Spread
0.4 0.27
Currency Indices
  • USD
  • EUR
  • JPY
Cryptocurrency
Pepperstone continues to prove itself as one of the most trusted crypto brokers. Although its selection of digital tokens is average, you can trade popular cryptos like Bitcoin and altcoins like Ripple with up to 1:10 leverage, while its crypto indices provide a holistic view of the digital currency markets not found on most trading platforms. IC Markets offers 20+ cryptocurrencies which are tradable via CFDs, including lesser-known tokens such as Avalanche, Kusama and Uniswap. Commission-free trading is available, and experienced crypto traders can access high leverage up to 1:200 in the MetaTrader platforms.
Spread
BTC 30, ETH 0 BTC 42.036
Coins
  • BCH
  • BTC
  • ETH
  • LTC
  • DASH
  • ADA
  • LINK
  • DOGE
  • EOS
  • DOT
  • XRP
  • XLM
  • XTZ
  • UNI
  • BNB
  • BTC
  • BCH
  • DOT
  • DSH
  • EMC
  • EOS
  • ETH
  • LNK
  • LTC
  • NMC
  • PPC
  • XLM
  • XRP
  • ADA
  • BNB
  • DOG
  • UNI
  • XTZ
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Pepperstone IC Markets
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
More Comparisons
Pepperstone
vs

IC Markets
vs