IG vs Pepperstone Comparison – 2024

Top Reasons to Choose IG or Pepperstone

Based on our live testing and evaluation, IG excels in serving professional traders and investors by offering access to over 17,000 markets and a wide range of trading, investing, and wealth management accounts. On the other hand, Pepperstone is ideal for advanced short-term traders, providing access to four sophisticated trading platforms and a wealth of additional third-party trading tools.

IG: Snapshot

Founded in 1974 and headquartered in London, IG is a leading name in retail trading and investing. Licensed by 11 financial authorities, including 8 Tier-1 regulators, the brokerage firm is publicly listed on the London Stock Exchange. IG offers access to over 17,000 financial instruments and a wide range of trading, investing, and wealth management accounts.

IG: Who is it For?

IG caters to both seasoned traders and beginners. Experienced traders will appreciate the wide selection of markets, account types, and financial products, including CFDs, spread betting, options, futures, and forwards. Beginners can benefit from IG’s extensive educational materials, market research and live trading webinars conducted by its team of in-house analysts.

What Makes IG Stand Out?

IG stands out as one of the few publicly listed brokers on the London Stock Exchange. With one of the widest selections of markets in the industry, other unique features include weekend and out-of-hours pricing, pre- and post-market stock trading, direct market access (DMA), and a variety of account options designed for trading, investing, and wealth management.

Pepperstone: Snapshot

Founded in 2010 and headquartered in Melbourne, Australia, Pepperstone has expanded globally with offices in London, Cyprus, Germany, Dubai, and Kenya. The brokerage is licensed by seven financial authorities, including four Tier-1 regulators. Pepperstone offers access to over 1,200 markets through platforms like MT4, MT5, cTrader, and TradingView, and provides a comprehensive range of educational materials.

Pepperstone: Who is it For?

Pepperstone caters well to beginners, looking to enhance their trading skills, by offering a wide range of educational resources such as articles, video tutorials, courses, and live trading webinars. Advanced traders will also find value in Pepperstone’s four advanced trading platforms and the integration of third-party research and analytical tools from Autochartist.

What Makes Pepperstone Stand Out?

Pepperstone stands out as a well-regulated broker offering a comprehensive suite of educational materials that exceed the industry average. It also offers a wide selection of global stock CFDs and provides high-quality customer support that exceeds industry standards.

Trust

IG vs Pepperstone Trust and Regulation Comparison

Founded in 1974, IG has one of the longest track records of financial stability in the industry. As a publicly listed company on the London Stock Exchange, it maintains a very high level of transparency in its business operations. IG has 10 entities worldwide, licensed by 8 Tier-1 financial authorities, including the FCA (UK) and CFTC/NFA (USA). These entities offer the strongest regulatory safeguards.

Founded in 2010, Pepperstone also has a strong track record of financial stability. The broker provides a high level of transparency with detailed information on its website regarding its regulatory status, fees and trading conditions. It operates through seven global entities, four of which are licensed by Tier-1 regulators, including CySEC (Cyprus), FCA (UK), ASIC (Australia), and BaFin (Germany), ensuring a high level of safety and security.

Fees

IG vs Pepperstone Spreads, Fees and Commissions Comparison

In our live test of IG’s commission-free CFD account, we experienced competitive spreads of 0.6 pips for EUR/USD during the London session and 0.9 pips during the US session. Both are better than the industry average of 1.08 pips. The fee structure makes IG suitable for all trading styles, particularly short-term traders. Note that the broker charges a £12 monthly inactivity fee after 2 years.

In our live test of Pepperstone’s commission-free Standard CFD account, we found that the spread for EUR/USD averaged 1.0 pips during the London and 1.1 pips during the New York session. This is around the industry average of 1.08 pips. Additionally, there are no inactivity fees. The broker’s fee structure is most suitable for medium to longer-term trading styles.

For more options, you can also check out our list of the best forex brokers with the lowest spreads.

Platforms and Tools

IG vs Pepperstone Trading Platforms Comparison

IG offers a variety of trading platforms designed to accommodate traders of all experience levels. Beginners will find the IG Web Trader and mobile app user-friendly, both featuring built-in market news and trading signals from Autochartist and PIA First. Meanwhile, experienced traders can leverage the advanced capabilities of its desktop platforms like MT4, ProRealTime, and L2 Dealer (DMA).

Pepperstone offers a wide range of trading platforms catering to intermediate and advanced traders. The TradingView social web platform is particularly suited for novice traders, featuring numerous technical indicators, chart types, and timeframes. For advanced traders, Pepperstone provides MT4, MT5, and cTrader desktop, web and mobile platforms. The desktop platforms are optimized for high-frequency, short-term, and algorithmic trading. Beginners will find trading ideas from Autochartist particularly useful.

Tradable Instruments

IG vs Pepperstone Instruments Selection Comparison

IG offers one of the largest selections of tradable instruments in the industry, catering to all trading and investing styles. This includes more than 17,000 global shares, 100 forex pairs, 69 stock indices, 38 commodities, 11 cryptocurrencies, and 19 bonds. This extensive offering is perfect for professional traders and portfolio managers looking to build a well-diversified portfolio.

Pepperstone provides a strong selection of over 1,200 CFD instruments across various global asset classes, catering to a wide range of traders. This includes over 900 global shares, 90 forex pairs, 26 indices, and 31 commodities. A distinctive feature for forex traders is the option to trade currency indices such as the US Dollar Index and the Euro Currency Index, which are not commonly offered by other brokers.

Customer Support

IG vs Pepperstone Customer Support Comparison

IG offers customer support 24/6 via live chat, phone, Whatsapp, and email. After testing customer support over a two-week period, we found live chat and WhatsApp to be the fastest, with responses in seconds. Emails were responded to within one day, and connecting to an agent on the phone was very fast. The agents were courteous, well-informed, and knowledgeable, providing better-than-average customer support.

Pepperstone provides customer support 24/7 via phone, live chat, and email. Live chat and phone services connected us to an agent in under a minute, while email inquiries were answered within 24 hours. The agents were helpful, providing valuable assistance and overall customer support better than the industry average.

Research

IG vs Pepperstone Research Tools Comparison

IG offers a wealth of market research by its highly-regarded in-house analysts. The volume of articles, videos, and webinars is well above the industry average and is tailored for traders of all skill levels. Resources include the Morning Call, Trade of the Week, The Week Ahead, various live trading webinars, and a detailed economic and corporate calendar. These are all accessible through the IG website, web platform, and mobile app. News traders will also appreciate the live Thomason Reuters news feed from the platform, allowing them to capitalize on breaking news announcements.

Pepperstone offers comprehensive market research through written articles and video presentations delivered by its in-house analysts. The broker’s chief market analyst provides insightful analysis of major news events and market trends, with a strong emphasis on technical analysis that leads to actionable trading opportunities. Additionally, Pepperstone provides the Autochartist research tool, which automatically generates signals when significant technical patterns emerge in major markets. These resources cater to both novice and experienced traders alike.

Deposits & Withdrawals

IG vs Pepperstone Deposit and Withdrawal Methods Comparison

IG offers fee-free deposit and withdrawal options and accepts various methods, including bank wire transfers, credit/debit cards, and PayPal. Most methods take 1-3 business days to process, while bank wire transfers take 2-5 business days. Deposits and withdrawals via PayPal are instant.

Pepperstone provides fee-free deposit and withdrawal options through different channels. Deposits via bank wire transfer usually take 1 to 3 working days, while Visa/Mastercard transactions are instant. PayPal deposits are also instant, but withdrawals via PayPal typically take 1 to 3 working days to process.

Account Types and Terms

IG vs Pepperstone Account Types Comparison

IG offers a wide selection of trading and investing accounts tailored to different regions and individual needs. These include CFD, DMA, Share Dealing, and Corporate accounts, along with options like Spread Betting, ISA, and SIPP accounts specifically for UK residents. While many accounts cater to professional traders and investors, there are also options suitable for novice traders. A minimum deposit of £250 is required to open an account.

Pepperstone provides two account choices: Standard and Razor. The Standard Account is designed for beginners, featuring commission-free trading in micro-lots. The Razor Account targets advanced traders with lower spreads and a standard industry commission. Notably, exclusive access to the TradingView platform is restricted to Razor Account holders. The broker also offers Islamic and Demo account options. The minimum deposit is £500.

Education

IG vs Pepperstone Educational Content Comparison

The IG Academy offers a wide selection of educational resources tailored for traders at every skill level, from novices to seasoned experts. These resources encompass articles, videos, courses, and webinars that delve into topics like technical analysis, risk management, and trading psychology. The courses are organized into beginner, intermediate, and advanced levels, ensuring a thorough and structured learning journey.

Pepperstone provides comprehensive educational resources such as articles, video tutorials, courses, and live trading webinars. The curated content offers valuable insights and supports traders at all levels of expertise. Additionally, the platform features regular webinars led by experienced traders and educators, focusing on detailed topics like 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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