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Stefan is a financial writer and Forex trading enthusiast with over a decade of experience in finance and technology. His interest in geopolitics, big data, and market sentiment drives his analysis of global market trends, with unbiased, well-researched content to help traders navigate the markets confidently.
IC Markets vs. Pepperstone
In the fast-paced world of forex trading, choosing the right broker is crucial. Pepperstone and IC Markets are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
Regulations
Conditions
- Well regulated
- Tight spreads
- Wide range of assets
- Great platform choice
- Well regulated
- Tight spreads
- Great platform choice
- Wide range of assets
- High minimum deposit
- Limited market analysis
- Well regulated
- Tight spreads
- Great platform choice
- Wide range of assets
How Do Pepperstone and IC Markets Compare?
The radar chart above illustrates the comparison between Pepperstone and IC Markets across several key metrics, with the highest possible score being 100 in each category.
Helping You Choose the Right Broker
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated Pepperstone and IC Markets, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and Regulation
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.
In our comparison:
- Pepperstone holds four Tier 1 and one Tier 2 licences.
- IC Markets holds two Tier 1 and no Tier 2 licences.
Based on these findings, Pepperstone earned a higher trust rating than IC Markets.
Is Pepperstone financially regulated?
Yes Pepperstone was founded in 2010 and is regulated by ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB.Is IC Markets financially regulated?
Yes IC Markets was founded in 2007 and is regulated by ASIC, CMA, CySEC and FSA-Seychelles.Trading Costs Comparison
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that Pepperstone has overall lower trading costs than IC Markets.
Trading Platforms Offered
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
- Pepperstone supports cTrader, MT4, MT5, Pepperstone Platform and TradingView
- IC Markets supports cTrader, MT4, MT5 and TradingView
Copy Trading Availability
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both IC Markets and Pepperstone offer copy trading.
Range of Trading Instruments
A broader range of CFD instruments provides more trading opportunities. Pepperstone offers a greater variety of instruments compared to IC Markets:
- Pepperstone: 90 Forex pairs.
- IC Markets: 64 Forex pairs.
Cryptocurrency Trading
For those interested in trading cryptocurrencies, Pepperstone offers 30 cryptocurrencies, while IC Markets offers 18 cryptocurrencies. Therefore, Pepperstone is the better choice for cryptocurrency trading.
Deposit and Withdrawal Processes
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that IC Markets charges a withdrawal fee and Pepperstone does not. Overall, Pepperstone has better deposit and withdrawal processes than IC Markets.
Educational Support?
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
IC Markets has better educational support than Pepperstone. Both IC Markets and Pepperstone offer educational support for more experienced traders.Market Analysis Materials
Access to frequent and high-quality market research and analysis is crucial.
We found that Pepperstone offers better research analysis than IC Markets and that both IC Markets and Pepperstone offer frequent webinars.
Overall Verdict
- Pepperstone:
One of our highest rated brokers for Filipino traders, Pepperstone was founded in Australia in 2010 and is globally renowned for its low trading costs and range of trading platforms. Pepperstone keeps costs low with some of the tightest spreads we've seen, averaging 0.77 pips (EUR/USD) on its Standard Account. For those who prefer classic ECN trading, the Razor Account has low commissions and spreads averaging at just 0.17 pips on the EUR/USD. Neither account has a required minimum deposit.
More experienced traders will appreciate Pepperstone’s trading platform options, including its own web-based platform, MT4, MT5, cTrader, and TradingView. All are available on desktop and mobile devices. Pepperstone’s education section has improved hugely over the last few years and traders of all experience levels will find it useful. Highlights include detailed trading guides and frequent market analysis from industry experts.
- IC Markets:
Founded in 2007 in Australia, IC Markets is a globally recognised Forex and CFD broker known for its ultra-low trading costs, high-speed execution, and institutional-grade trading environment. The company is regulated by several top-tier authorities, including ASIC (Australia), CySEC (Cyprus), SCB (Bahamas), and the FSA of Seychelles. While IC Markets is not regulated by the Philippines Securities and Exchange Commission (SEC), traders from the Philippines can legally open accounts under its offshore entities.
IC Markets is widely considered one of the most cost-effective brokers in the world. Its Raw Spread Account offers average spreads of just 0.10 pips on the EUR/USD and a low round-turn commission of 6 USD per lot. It also supports all four major trading platforms—MetaTrader 4, MetaTrader 5, cTrader, and TradingView—making it suitable for traders of all strategies and experience levels.
Filipino clients gain access to a wide range of trading tools, including VPS hosting, advanced analytics from Trading Central, and multiple copy trading services such as Myfxbook AutoTrade and ZuluTrade. With 24/7 customer support and a streamlined onboarding process, IC Markets is a strong option for traders in the Philippines. However, while the broker provides high-quality educational resources, its market analysis coverage is relatively limited compared to some competitors.
Overall Ratings
- Pepperstone: 4.71
- IC Markets: 4.46
For more detailed reviews, please read our comprehensive assessments of Pepperstone and IC Markets.
Best Brokers Uganda 2026
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Broker | Countries Regulated | Minimum Spread EUR/USD | Minimum Deposit | Trading cost/lot EURUSD Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission. | Broker Score | Broker Website | Select and Compare |
|---|---|---|---|---|---|---|---|
 |     | 0.10 pips | USD 3 | USD 7 | |||
 | | 0 pips | USD 0 | USD 7 | |||
 | | 0.10 pips | USD 200 | USD 8 | |||
 |  | 0.70 pips | USD 10 | USD 17 | |||
 |  | 0 pips | AUD 0 | USD 4.50 | |||
 |    | 0.90 pips | USD 100 | USD 9 | |||
|  | 0.60 pips | USD 5 | USD 6 | |||
 | | 0 pips | USD 0 | USD 10 | |||
 |   | 0.70 pips | USD 5 | USD 7 | |||
 | | 0 pips | USD 100 | USD 6 |
Select another broker to another broker to compare features, fees, and platforms side by side.
Let's Talk Forex with Alison & Chris
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.