IC Markets vs Pepperstone Comparison – 2024

Top Reasons to Choose IC Markets or Pepperstone

Based on our assessment, IC Markets caters to short-term and algorithmic, intermediate to advanced traders who prioritize low spreads and ultra-fast execution. Pepperstone is suited to beginners relying on high-quality educational materials and advanced traders seeking helpful third-party trading tools.

IC Markets: Snapshot

Founded in 2007 and headquartered in Sydney, Australia, IC Markets is a licensed brokerage regulated by three financial authorities, including two Tier-1 regulators. The broker offers over 2,250 tradable instruments across the MT4, MT5, and cTrader platforms, and features a dedicated trading blog with market news.

IC Markets: Who is it For?

IC Markets caters to advanced short-term traders with its competitive ECN-style pricing and lightning-fast trade execution, averaging under 40 milliseconds. With a zero requote policy and no minimum order distance restrictions, it is particularly well-suited for short-term traders and those employing algorithmic strategies.

What Makes IC Markets Stand Out?

IC Markets stands out with its zero requote policy and no minimum order distance restrictions. This means you can place market orders as close to the market price as you wish. Additionally, it offers more competitive trading fees and a broader selection of trading platforms and instruments than the industry average.

Pepperstone: Snapshot

Founded in 2010 and headquartered in Melbourne, Australia, Pepperstone has expanded its presence with offices in London, Cyprus, Germany, Dubai, and Kenya. It is licensed by seven financial authorities, including four Tier-1 regulators. Pepperstone provides access to over 1,200 tradable instruments through platforms such as MT4, MT5, cTrader, and TradingView, complemented by a wide range of educational resources.

Pepperstone: Who is it For?

Pepperstone is tailored for beginners looking to enhance their trading skills, offering a comprehensive selection of educational resources, including articles, video tutorials, courses, and live webinars. It also serves advanced traders with access to four professional trading platforms and integrates third-party research and analytical tools from Autochartist.

What Makes Pepperstone Stand Out?

Pepperstone distinguishes itself as a highly regulated broker with licenses from seven financial authorities, including four Tier-1 regulators. It also offers a broad selection of trading platforms, third-party research tools, extensive educational resources, and superior customer support compared to the industry average.

Trust

IC Markets vs Pepperstone Trust and Regulation Comparison

Established in 2007, IC Markets operates under two entities licensed by Tier-1 regulators: CySEC (Cyprus) and ASIC (Australia), ensuring the highest standards in fund security and trading conditions. Additionally, one of its entities is licensed by the Tier-3 regulator, FSA (Seychelles), which offers insurance coverage up to $1 million from Lloyds of London.

Founded in 2010, Pepperstone operates through four entities licensed by Tier-1 regulators: CySEC (Cyprus), FCA (UK), ASIC (Australia), and BaFin (Germany). One entity holds a license from the Tier-2 regulator DFSA (Dubai), while two more entities are licensed by Tier-3 regulators CMA (Kenya) and the SCB (Bahamas). The broker prioritizes transparency in its terms and conditions, particularly concerning trading fees and the security of client funds.

Fees

IC Markets vs Pepperstone Spreads, Fees and Commissions Comparison

In both IC Markets’ Standard and ECN accounts, spreads are highly competitive. Using IC Market’s commission-free Standard CFD Account, our analysis revealed that the spread for EUR/USD averaged 0.65 pips during the London and New York sessions, which beats the industry average of 1.0 pips. Additionally, there are no maintenance or inactivity fees.

Overall, we rated the trading fees at Pepperstone as competitive and better than the industry average. From the broker’s commission-free Standard CFD Account, we observed that the spread for EUR/USD averaged 1.05 pips across the London and New York sessions, which aligns with the industry average. There are also zero inactivity fees.

Platforms and Tools

IC Markets vs Pepperstone Trading Platforms Comparison

IC Markets offers an extensive selection of trading platforms, including MT4, MT5, and cTrader, accessible on desktop, web, and mobile devices. These platforms cater to the needs of advanced traders, with cTrader specifically engineered for high-frequency, short-term trading. It features convenient tools such as one-click trading and depth of market analysis. Alternatively, beginners may find the mobile apps more accessible for trading, although they offer limited charting capabilities. Additionally, trading signals from Autochartist and market research from Trading Central may prove beneficial for new traders.

Pepperstone provides a comprehensive range of trading platforms, including MT4, MT5, cTrader, and TradingView, available on desktop, web, and mobile devices. The TradingView social web platform is particularly suited for novice traders and features over 100 technical indicators, 11 chart types, and 11 timeframes. For advanced traders, MT4, MT5, and cTrader are available, with cTrader specifically designed for high-frequency, short-term trading. Beginners can leverage Autochartist for trading ideas..

Tradable Instruments

IC Markets vs Pepperstone Instruments Selection Comparison

IC Markets offers an extensive selection of over 2,250 financial CFD instruments spanning various global asset classes, particularly appealing to stock traders. The broker provides access to over 2,100 stock CFDs from markets in the U.S., Australia, Amsterdam, Spain, France, Germany, and the UK, catering to the needs of most traders.

Pepperstone provides access to more than 1,200 financial CFD instruments across global asset classes. The product range is beneficial for a wide range of traders, especially those focusing on currencies and indices. The broker offers unique currency indices, including the US Dollar Index, Euro Currency Index, and others.

If you’re interested in exploring more options, be sure to check out our articles on the best crypto trading brokers and the best brokers for share CFDs.

Customer Support

IC Markets vs Pepperstone Customer Support Comparison

IC Markets provides round-the-clock customer support through email and live chat channels. Responses to emails were received within one day, while live chat responses were prompt, typically within two minutes. The assistance offered was comprehensive and beneficial. However, it’s worth noting that the general support phone number was found to be non-functional.

Pepperstone provides 24/7 customer support via phone, live chat, and email. The live chat and phone services were swift, connecting us to an agent in less than a minute. Email inquiries received responses within 24 hours. The support agents were proficient and provided valuable assistance.

Research

IC Markets vs Pepperstone Research Tools Comparison

IC Markets features an Information Hub for Serious Traders. This includes regularly updated market news and technical and fundamental analysis reports curated by the in-house team. The content is actionable and beneficial for traders at all levels, from beginners to intermediates. Additionally, the broker provides content sourced from Trading Central, such as Analyst Views, Featured Ideas, and Technical Insights, specifically catering to advanced traders. Furthermore, trading signals from Autochartist prove valuable across all skill levels.

Pepperstone offers comprehensive market research in written and video formats, delivered by its in-house analysts. The broker’s chief market analyst provides insightful analysis of high-impact news events and market commentary with a technical focus, generating actionable trading ideas. Additionally, Pepperstone provides the Autochartist research tool, which automatically generates signals when significant technical analysis chart patterns emerge on major markets. These tools are well-suited to both beginner and advanced traders.

Deposits & Withdrawals

IC Markets vs Pepperstone Deposit and Withdrawal Methods Comparison

IC Markets offers 15 fee-free deposit and withdrawal options across ten currencies. Debit/credit cards, PayPal, Neteller, Skrill, and other e-payment methods provide instant processing times. However, bank wire transfers have the longest processing time, typically taking 2 to 5 working days, with international wires potentially taking up to 14 working days.

Pepperstone offers three fee-free deposit and withdrawal options through various channels. Deposits via bank wire transfer typically take 1 to 3 working days, while transactions via Visa/Mastercard and PayPal are instant. Withdrawals through PayPal usually require 1 to 3 working days to process.

Account Types and Terms

IC Markets vs Pepperstone Account Types Comparison

IC Markets presents three distinct account types tailored to various trader preferences. The Standard MetaTrader Account provides zero-commission trading, making it an ideal choice for novice traders. Alternatively, the Raw Spread MetaTrader and Raw Spread cTrader accounts feature lower spreads and incur a commission per trade. Notably, the commission for the Raw Spread cTrader account is USD 3.00 per lot, which is lower than the industry average of USD 3.50.

Pepperstone provides two account options: Standard and Razor. The Standard Account, designed with beginners in mind, offers commission-free trading in micro-lots. The Razor Account is tailored for advanced traders, featuring lower spreads and an industry-standard commission. It is worth noting that access to the TradingView platform is exclusively available with the Razor Account.

Education

IC Markets vs Pepperstone Educational Content Comparison

IC Markets boasts an extensive variety of educational resources, encompassing articles, tutorial videos, and live webinars. The content library is designed to cater to traders of all levels, offering topics ranging from basic to advanced trading knowledge, including coverage of algorithmic trading techniques.

Pepperstone provides comprehensive educational resources that include articles, video tutorials, courses, and live trading webinars. The content is thoughtfully crafted, informative, and designed to accommodate traders of all skill levels. Additionally, Pepperstone hosts regular webinars led by experienced traders and educators, delving into topics such as price action trading.

Our Methodology

Since 2011, FX Empire has developed a detailed methodology for evaluating CFD brokers, involving over 250 variables across nine crucial categories. Our team of experts, with deep industry knowledge, conducts live testing and research by interacting with the brokers directly. We check regulations, open accounts, test spreads, account costs, platform functionality, instrument variety, customer support reliability, and the quality of research and educational content. This granular analysis helps us identify each broker’s strengths and weaknesses, keeping our comparisons current with market trends and ensuring our guides meet traders’ needs.

We strive to evaluate each broker objectively, considering how their offerings align with the diverse trading goals and preferences of our readers. Our focus is on providing a balanced overview of each broker’s strengths and weaknesses. This method ensures that our readers receive clear, insightful comparisons to aid in making well-informed trading decisions.

We employ a comprehensive rating system across nine key categories:

• Trust
• Fees
• Platforms and Tools
• Tradable Instruments
• Customer Support
• Research
• Deposits and Withdrawals
• Account Types and Terms
• Education

In each category, we conduct an in-depth analysis for both brokers, outlining features, advantages, and disadvantages and determining their suitability for different trader profiles. By blending insights from our extensive reviews with first-hand experiences and observations, we ensure each comparison is balanced, informative, and tailored to the trader’s unique needs. You can read more about our review process here.

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