IC Markets
ASIC/CySEC
Pepperstone
BaFin/FCA/ASIC
IC Markets vs Pepperstone
Head-to-Head Comparison 2026
By SofiaOur Verdict
Pepperstone has a higher rating of 4.5/5 compared to IC Markets (4.4/5). The minimum deposit is lower at Pepperstone with 0 €. Pepperstone is BaFin-regulated, while IC Markets is supervised by ASIC/CySEC. IC Markets has been in the market since 2007, making it the more experienced provider. On spreads, IC Markets offers EUR/USD from 0.0 pip (Raw Spread) + $3.50 per lot per side, 0.8 pip (Standard), while Pepperstone offers EUR/USD from 0.0 pip (Razor) + $3.50 per lot.
Comparison Table
| Criteria | IC Markets | Pepperstone |
|---|---|---|
| Rating | 4.4/5 (2200 reviews) | 4.5/5 (1800 reviews)✓ |
| Regulation | ASIC/CySEC | BaFin/FCA/ASIC |
| Fees | From 0.0 pips + $3.50 commission (Raw Spread) | Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip |
| Min. Deposit | 200 $ | 0 € |
| Instruments | Forex, Indices, Commodities, Stocks CFDs, Bonds, Crypto CFDs, Futures CFDs | Forex, CFDs, Indices, Commodities, Stocks CFDs, Crypto, Currency Indices |
| Platforms | MT4, MT5, cTrader | MT4, MT5, cTrader, TradingView |
| Options Trading | No | No, but over 1,200 CFD instruments |
| Spread (typical) | EUR/USD from 0.0 pip (Raw Spread) + $3.50 per lot per side, 0.8 pip (Standard) | EUR/USD from 0.0 pip (Razor) + $3.50 per lot |
| Execution Speed | ~40 ms (Equinix NY4/LD5) | ~30 ms (Equinix LD5) |
| Founded | 2007 | 2010 |
| Headquarters | Sydney | Melbourne |
Detailed Comparison
Fee Comparison
IC Markets: From 0.0 pips + $3.50 commission (Raw Spread). Minimum deposit: 200 $. Spread: EUR/USD from 0.0 pip (Raw Spread) + $3.50 per lot per side, 0.8 pip (Standard).
Pepperstone: Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip. Minimum deposit: 0 €. Spread: EUR/USD from 0.0 pip (Razor) + $3.50 per lot.
Execution Quality
IC Markets
Execution: ~40 ms (Equinix NY4/LD5)
Pepperstone
Execution: ~30 ms (Equinix LD5)
Product Range
IC Markets (7 categories)
Pepperstone (7 categories)
Trading Platforms
IC Markets
- MT4
- MT5
- cTrader
Pepperstone
- MT4
- MT5
- cTrader
- TradingView
Regulation & Security
IC Markets is regulated by ASIC/CySEC (HQ: Sydney).
Pepperstone is regulated by BaFin/FCA/ASIC (HQ: Melbourne).
Who Is It For?
IC Markets
ECN broker with ultra-low spreads and fast execution
✓ Ultra-low spreads from 0.0 pips
✓ Fast order execution (under 40ms)
✓ cTrader platform available
✗ No proprietary platform
✗ Educational content could be more comprehensive
Pepperstone
ECN broker with Razor account and ultra-fast execution
✓ Razor account with raw spreads from 0.0 pip
✓ Fast execution speed
✓ MT4, MT5, cTrader and TradingView
✗ No options trading
✗ No real stocks, only CFDs
In-Depth Analysis: IC Markets vs Pepperstone
Spreads and commissions: Both are ECN-oriented brokers with EUR/USD spreads from 0.0 pip on their raw accounts. IC Markets charges $3.50 per lot per side on the Raw Spread account; Pepperstone charges from 0.0 pip plus €2.60 commission per lot on the Razor account, with its standard account starting at 1.0 pip. Both clearly focus on low trading costs for active traders.
Entry and regulation: The minimum deposit clearly separates them — €0 at Pepperstone versus $200 at IC Markets. On regulation Pepperstone (BaFin/FCA/ASIC) has an edge for European traders through BaFin oversight, while IC Markets is supervised by ASIC and CySEC. Execution is ~30 ms at Pepperstone (Equinix LD5) and ~40 ms at IC Markets (Equinix NY4/LD5).
Platforms and verdict: IC Markets (founded 2007, Sydney) offers MT4, MT5 and cTrader; Pepperstone (founded 2010, Melbourne) adds TradingView to that trio. Both trade forex plus index, commodity, stock and crypto CFDs, but no real options. Ratings: Pepperstone 4.5/5, IC Markets 4.4/5. For beginners with no minimum capital and traders who value BaFin regulation and TradingView, Pepperstone is the stronger choice; those already on cTrader or preferring the established IC Markets ECN stay with IC Markets.
Frequently Asked Questions
Is IC Markets or Pepperstone cheaper?
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IC Markets vs Pepperstone: Which broker is better overall?
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Pepperstone
ECN broker with Razor account and ultra-fast execution
Open Account →From 0 € min. deposit