Broker comparison

IC Markets vs.
Pepperstone

Which broker fits your needs?

Platforms, products and fees side by side.

Updated: October 2026

See comparison

Summary

Your goal decides.

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.

ECN broker with ultra-low spreads and fast execution

ECN broker with Razor account and ultra-fast execution

At a glance

The key differences

Criterion
PlatformsMT4, MT5, cTraderMT4, MT5, cTrader, TradingView
Product typesForex, Indices, Commodities, Stocks CFDs, Bonds, Crypto CFDs, Futures CFDsForex, CFDs, Indices, Commodities, Stocks CFDs, Crypto, Currency Indices
Options tradingNoNo, but over 1,200 CFD instruments
Fee modelFrom 0.0 pips + $3.50 commission (Raw Spread)Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip
Minimum deposit200 $0 €
RegulationASIC/CySECBaFin/FCA/ASIC
More informationDetailsDetails

Platforms

IC Markets

MT4, MT5, cTrader

Pepperstone

MT4, MT5, cTrader, TradingView

Product types

IC Markets

Forex, Indices, Commodities, Stocks CFDs, Bonds, Crypto CFDs, Futures CFDs

Pepperstone

Forex, CFDs, Indices, Commodities, Stocks CFDs, Crypto, Currency Indices

Options trading

IC Markets

No

Pepperstone

No, but over 1,200 CFD instruments

Fee model

IC Markets

From 0.0 pips + $3.50 commission (Raw Spread)

Pepperstone

Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip

Minimum deposit

IC Markets

200 $

Pepperstone

0 €

Regulation

IC Markets

ASIC/CySEC

Pepperstone

BaFin/FCA/ASIC

More information

IC Markets

Details

Pepperstone

Details

Product access and costs depend on market, account and permissions.

Detailed comparison

Comparing fees

Compare total costs, not just the order fee.

From 0.0 pips + $3.50 commission (Raw Spread)

Published fee
From 0.0 pips + $3.50 commission (Raw Spread)
Minimum deposit
200 $
Spread figure
EUR/USD from 0.0 pip (Raw Spread) + $3.50 per lot per side, 0.8 pip (Standard)
See terms at provider

Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip

Published fee
Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip
Minimum deposit
0 €
Spread figure
EUR/USD from 0.0 pip (Razor) + $3.50 per lot
See terms at provider

The relevant costs depend on market, currency, order size and trading style.

Execution quality

Order type, venue and liquidity affect execution.

Check the provider’s execution policy and available order types for your account.

Provider information

Check the provider’s execution policy and available order types for your account.

Provider information

Product range

ForexIndicesCommoditiesStocks CFDsBondsCrypto CFDsFutures CFDs
ForexCFDsIndicesCommoditiesStocks CFDsCryptoCurrency Indices

Categories come from broker profiles. Check specific markets and permissions before deciding.

Trading platforms

MT4 · MT5 · cTrader

IC Markets offers three top-tier trading platforms for different trading styles. MetaTrader 4 is the classic choice for Forex traders with extensive EA support. MetaTrader 5 expands the offering with additional timeframes and order types. The cTrader platform excels with its intuitive interface, Level II market depth, and cAlgo for algorithmic trading. All platforms offer VPS hosting for uninterrupted automated trading.

Explore platform

MT4 · MT5 · cTrader · TradingView

Pepperstone offers four trading platforms: MT4 and MT5 for classic forex trading with Expert Advisors and automated strategies. cTrader impresses with a modern interface, advanced charting, Level II price data, and algorithmic trading via cAlgo. TradingView enables social trading with one of the world's largest trader communities. All platforms support the Razor account with raw spreads and offer mobile versions for trading on the go.

Explore platform

Regulation & security

ASIC/CySEC

Regulatory information

BaFin/FCA/ASIC

Regulatory information

Regulation does not prevent market losses. The relevant authority depends on the contracting entity.

Your investor profile

Who might it suit?

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

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

Find the broker that fits

IC Markets oder Pepperstone?

Side by side. Decided with knowledge.

See the differences that matter, and the Academy lessons that explain them.

IC Markets4.4
  • Ultra-low spreads from 0.0 pips
  • Fast order execution (under 40ms)
  • cTrader platform available
Pepperstone4.5
  • Razor account with raw spreads from 0.0 pip
  • Fast execution speed
  • MT4, MT5, cTrader and TradingView
VS
  • Fees
  • Platform
  • Regulation
  • Matching lessons
Two brokers. Many options. Your call.
Open The Dealing Room

In-depth analysis

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.

Your questions

Frequently asked questions

How do fees differ between IC Markets and Pepperstone?
IC Markets: From 0.0 pips + $3.50 commission (Raw Spread). Pepperstone: Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip. Compare total costs for the specific market, product, currency and order size in the current fee schedule.
Which broker offers more products: IC Markets or Pepperstone?
IC Markets offers Forex, Indices, Commodities, Stocks CFDs, Bonds, Crypto CFDs, Futures CFDs. Pepperstone offers Forex, CFDs, Indices, Commodities, Stocks CFDs, Crypto, Currency Indices.
How are IC Markets and Pepperstone regulated?
The broker profiles list ASIC/CySEC for IC Markets and BaFin/FCA/ASIC for Pepperstone. Your account's contracting entity determines the applicable oversight and protection rules; check its current disclosures.
Is IC Markets or Pepperstone better for beginners?
IC Markets lists a 200 $ minimum deposit and offers MT4, MT5, cTrader. Pepperstone lists 0 € and offers MT4, MT5, cTrader, TradingView. Compare usability, available products and costs for your intended use.
IC Markets vs Pepperstone: Which broker is better overall?
The choice between IC Markets (4.4/5, 2200 reviews) and Pepperstone (4.5/5, 1800 reviews) depends on your needs. IC Markets: ECN broker with ultra-low spreads and fast execution. Pepperstone: ECN broker with Razor account and ultra-fast execution.
How do spreads compare between IC Markets and Pepperstone?
IC Markets offers typical spreads of EUR/USD from 0.0 pip (Raw Spread) + $3.50 per lot per side, 0.8 pip (Standard). Pepperstone offers EUR/USD from 0.0 pip (Razor) + $3.50 per lot. Tighter spreads reduce trading costs especially for active trading.

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Before you pick a broker

The guides worth reading before your first trade, whichever of the two you choose.

Options risks & opportunitiesWhat you can lose, and what the risk buys you.Options taxes in GermanyFlat-rate tax, loss offsetting and allowances.Options trading basicsStrike, expiry, underlying: the building blocks of every option.
Terms in the glossary:MarginPremiumCall optionUnderlyingExercise