IC Markets vs Pepperstone 2026
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Written by
Daniel Hartley
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Fact checked by
Ryan Ellison
Pepperstone
CFDs are complex instruments and involve a high risk of losing money rapidly due to leverage.
IC Markets
CFDs are complex instruments and involve a high risk of losing money rapidly due to leverage.
IC Markets vs Pepperstone comes down to trading costs, platforms and the account you open. Both offer Standard and commission-based Raw accounts, MT4, MT5, cTrader and TradingView. Their pricing details and proprietary tools differ.
IC Markets Global lists no fixed minimum deposit on regular accounts. Pepperstone also has no universal account-opening minimum, but individual deposit methods commonly start at $10. Pepperstone adds its own web and mobile platform alongside third-party terminals.
This comparison focuses on the international accounts described in the brokers’ published material. ForexArc has historical experience with both brokers, but has not run a controlled, same-time execution test. Costs, features and protections depend on the legal entity.
IC Markets vs Pepperstone: Quick Comparison
| Feature | IC Markets Global | Pepperstone (international) |
|---|---|---|
| Regular accounts | Standard; MetaTrader Raw; cTrader Raw | Standard; Razor |
| Standard forex pricing | From 0.8 pips | Spread-inclusive; Aug 2026 EUR/USD average 1.1 pips |
| Raw spreads from | 0.0 pips | 0.0 pips |
| Raw forex commission (USD schedule) | $3.50 per lot per side | From $3.50 per lot per side; platform-dependent |
| Regular account opening minimum | $0 | No universal minimum; deposit routes often $10+ |
| Higher tiers / programmes | Raw Pro; Raw Pro+ (early access) | Professional eligibility and other programmes vary |
| MetaTrader 4 and 5 | Yes | Yes |
| cTrader | Yes | Yes |
| TradingView | Eligible cTrader connection | Eligible Razor setups |
| Own web/mobile platform | IC mobile and supported web tools | Pepperstone platform and app |
| Demo accounts | Yes | Yes |
| Swap-free accounts | Subject to eligibility | Region- and eligibility-dependent |
These are published minimums and account conditions, not guaranteed trading costs. Check the legal entity, actual spreads and commission schedule before trading.
Our Verdict: Which Broker Should You Choose?
IC Markets is our pick for traders who favour MetaTrader automation, Raw Spread pricing and cTrader account flexibility. Its regular Global accounts have no fixed deposit minimum. MetaTrader Raw commission is $3.50 per lot per side in the cited USD schedule.
Pepperstone is a strong alternative for traders who want MT4, MT5, cTrader or TradingView alongside a dedicated Pepperstone web and mobile platform. Its Razor account also quotes commissions from $3.50 per lot per side, although the charge varies by platform and currency.
Neither broker is automatically cheaper. Compare the average spread, full commission, swaps and funding costs for your instrument. Your legal entity and preferred platform may matter more than a small pricing difference.
Who Should Choose IC Markets?
IC Markets suits traders who rely on MetaTrader Expert Advisors, cTrader or its eligible TradingView link. The regular Global account has no fixed opening deposit, although you still need enough funds for margin.
IC Markets
Active & algo traders
CFDs are complex instruments and involve a high risk of losing money rapidly due to leverage.
- Min deposit
- $0
- Regulation
- Seychelles FSA · SD018
- Platforms
- MT4, MT5, cTrader, TradingView
- Accounts
- Standard / Raw Spread
Who Should Choose Pepperstone?
Pepperstone suits traders who want a choice between third-party platforms and its own web or mobile experience. Razor pricing may appeal to active forex traders, but commission and available integrations depend on the account.
Pepperstone
Platform flexibility
CFDs are complex instruments and involve a high risk of losing money rapidly due to leverage.
- Min deposit
- Varies by method
- Regulation
- Bahamas SCB · SIA-F217
- Platforms
Pepperstone Platform- Accounts
- Standard / Razor
IC Markets vs Pepperstone: Regulation and Safety
Both broker brands operate through several legal entities. The company named in your agreement determines the relevant regulator, client-money rules and investor protections.
| Detail | IC Markets Global | Pepperstone international |
|---|---|---|
| Legal entity | Raw Trading Ltd | Pepperstone Markets Limited (Bahamas example) |
| Regulator | Seychelles Financial Services Authority | Securities Commission of The Bahamas |
| Published licence | SD018 | SIA-F217, per Pepperstone documents |
| Jurisdiction | Seychelles | Bahamas |
| Client funds | Entity-specific client-money arrangements | Entity-specific client-money arrangements |
| Investor protection | Depends on entity and client classification | Depends on entity and client classification |
IC Markets Global operates through Raw Trading Ltd under the Seychelles FSA. Pepperstone Markets Limited is the Bahamas international entity identified in the source review. Their Australian, UK and European companies hold separate authorisations.
A licence for one group company does not cover every customer. Segregated client money can offer protection, but cannot guarantee recovery if a broker or bank fails. Verify the exact company on the regulator’s register before funding.
IC Markets vs Pepperstone: Spreads and Fees
Standard Account Spreads
IC Markets Global advertises Standard forex spreads from 0.8 pips. Pepperstone’s published August 2026 EUR/USD sample showed a 1.1-pip Standard average, while its account pricing varies by instrument. These figures are not directly comparable: one is a minimum and the other a dated average.
Both Standard accounts generally include ordinary forex trading charges in the spread. Share CFDs and overnight positions can involve additional costs.
Raw Spread vs Razor Commissions
| Cost | IC Markets MetaTrader Raw | Pepperstone Razor (cited USD schedule) |
|---|---|---|
| Spread from | 0.0 pips | 0.0 pips |
| Forex commission per lot, per side | $3.50 | From $3.50 |
| Forex round-turn commission | $7 | From $7 |
| Regular opening minimum | $0 | No universal minimum; payment thresholds apply |
On the cited USD MetaTrader/platform schedules, both IC Markets Raw Spread and Pepperstone Razor list $3.50 per standard forex lot per side, or $7 round turn. Pepperstone charges can differ across platforms and account currencies.
For example, assume a one-lot EUR/USD trade with a 0.2-pip spread. At roughly $10 per pip, the spread costs $2. Adding a $7 round-turn commission gives about $9 at either broker. This is an arithmetic example, not a measured live spread or execution test.
Overnight and Other Fees
Both brokers may apply overnight financing. Pepperstone may charge for some international wire withdrawals, while payment providers can add their own fees. Currency conversion and share CFD charges also matter.
IC Markets advertises a 0.8-pip Standard minimum and a regular MetaTrader Raw commission of $7 round turn. Pepperstone publishes dated spread averages and Razor commissions that depend on platform. Compare like-for-like all-in costs.
Account Types and Minimum Deposits
| Account | IC Markets | Pepperstone |
|---|---|---|
| Standard style | Standard, $0 opening minimum | Standard, no universal opening minimum |
| Raw style | MetaTrader Raw and cTrader Raw, $0 | Razor, deposit routes may have minimums |
| Higher tier | Raw Pro / Raw Pro+ (early access) | Professional classification subject to eligibility |
| Demo | Yes | Yes |
| Swap-free | Eligible clients and account terms | Offered on eligible regional arrangements |
IC Markets Global offers Standard, MetaTrader Raw Spread and cTrader Raw accounts. Its Raw Pro and Raw Pro+ tiers appear as early-access options with higher funding thresholds, not ordinary alternatives for every user.
Pepperstone offers Standard and Razor accounts. Standard uses spread-inclusive forex pricing; Razor adds commission on forex and spot gold. Demo and certain swap-free or professional arrangements depend on the entity and eligibility.
Both brokers advertise no universal minimum to open a regular account. Pepperstone states that many funding methods require at least $10 or the local equivalent. A $0 opening minimum never means you can place trades without adequate margin.
IC Markets vs Pepperstone: Trading Platforms
| Platform or feature | IC Markets | Pepperstone |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | Yes | Yes |
| cTrader | Yes | Yes |
| TradingView | Via eligible cTrader Raw | Available on eligible Razor accounts |
| Browser trading | Supported web terminals | Pepperstone web platform and web terminals |
| Mobile trading | MetaTrader, cTrader and IC tools | MetaTrader, cTrader and Pepperstone app |
| Expert Advisors | Supported MetaTrader accounts | Supported MetaTrader accounts |
| Copy/social trading | Selected tools and integrations | Third-party integrations where offered |
Both brokers list MT4, MT5, cTrader and TradingView. IC Markets connects eligible TradingView users through its cTrader Raw account. Pepperstone also offers its own web terminal and mobile app.
TradingView and cTrader access may depend on account type and jurisdiction. If you use Expert Advisors, an API or a specific indicator, confirm that it works on your intended live setup.
IC Markets is a good fit for traders who want established third-party platforms with its Raw account structures. Pepperstone has the additional option of a broker-owned platform.
Tradable Markets Compared
Both brokers offer forex and CFDs across multiple markets. CFDs track prices but generally do not give ownership of shares, ETFs or cryptocurrency.
| Market | IC Markets | Pepperstone |
|---|---|---|
| Forex CFDs | Yes | Yes |
| Commodity CFDs | Yes | Yes |
| Index CFDs | Yes | Yes |
| Share CFDs | Yes | Yes |
| Cryptocurrency CFDs | Where permitted | Where permitted |
| ETF CFDs | Check entity and platform | Offered on supported entities |
| Bond / futures CFDs | Selected markets | Check current product offering |
Confirm the exact symbol, contract size, hours and margin rules. The same market can have different costs or restrictions on each platform.
Pepperstone’s international site lists more than 1,350 CFD markets. IC Markets Global also lists a broad range of forex and CFDs. Published group totals are not guarantees for your particular entity or account.
Deposits and Withdrawals
IC Markets and Pepperstone offer funding through secure client areas. Cards, bank transfers and selected e-wallets may be available, depending on country and account.
| Feature | IC Markets | Pepperstone |
|---|---|---|
| Card deposits | On supported accounts | On supported accounts |
| Bank transfers | Available | Available |
| E-wallets / local methods | Selected methods | Selected methods |
| Cryptocurrency payment routes | Check your client area | Entity and account dependent |
| Withdrawal requests | Through client area | Through client area |
| Withdrawal timing | Method and verification dependent | Method and verification dependent |
Pepperstone publishes payment-method minimums that vary by route. Several electronic methods start at $10, while some bank transfers show no fixed minimum. IC Markets lists no general regular-account opening minimum.
Withdrawal processing and arrival are different stages. Some Pepperstone international bank wires can carry a broker deduction; other regions use different schedules. Banks and providers may add charges at either broker.
There is no universal winner for funding. Check your account’s supported methods, minimums, payment fees and identity requirements before depositing.
How to Open an Account
Both brokers use online registration, account selection, identity checks and client-area funding. Country eligibility determines which entity and account choices appear.
| Step | IC Markets | Pepperstone |
|---|---|---|
| 1. Register | Submit online application | Submit online application |
| 2. Choose account | Standard or eligible Raw | Standard or Razor |
| 3. Verify identity | Identity and address documents | Identity and address documents |
| 4. Fund account | Select available payment method | Select available payment method |
| 5. Start trading | Open your platform | Open your platform |
Applications are subject to approval. Demo accounts can help you learn the platform, but demo fills do not prove live execution quality.
Customer Support
Both brokers publish live chat, email and help channels. Hours vary by entity and communication method.
| Channel | IC Markets | Pepperstone |
|---|---|---|
| Live chat | Yes | Yes |
| Yes | Yes | |
| Online Help Centre | Yes | Yes |
| Published global availability | 24/7 on IC Global | Hours vary by channel and region |
IC Markets Global advertises 24/7 support. Pepperstone’s general account page describes support around the week, but its channel hours can differ. These schedules do not prove one broker resolves issues faster.
Confirm the support availability for your legal entity, especially if you trade on weekends or need payment assistance.
Research, Education and Extra Features
IC Markets provides platform tutorials, research tools, calculators and automated-trading resources. Pepperstone offers education, market commentary and tools across third-party and proprietary platforms.
Choose the features you will use. An Expert Advisor trader may prioritise platform compatibility. Someone trading mainly from a phone may prefer Pepperstone’s own app.
Neither education nor copy trading removes CFD risk. Results from other traders or strategies cannot guarantee future returns.
Final Thoughts
IC Markets and Pepperstone both offer Standard and Raw-style forex pricing with MT4, MT5, cTrader and TradingView. IC Markets stands out for the structure of its Global Raw accounts. Pepperstone adds its own web and mobile trading platform.
Both list a $3.50-per-side starting commission on the cited USD Raw/Razor schedules. Compare executed spreads, swaps and platform-specific charges rather than picking a winner from minimum spreads.
We lean toward IC Markets for traders focused on MetaTrader Raw and cTrader account flexibility. Pepperstone is worth considering if its proprietary platform or published Razor pricing fits your workflow. There is no universal winner.
Forex and CFDs involve a high risk of loss. Leverage magnifies losses, and investor protections vary by legal entity.
IC Markets vs Pepperstone FAQs
Is IC Markets better than Pepperstone?
IC Markets may suit traders who want its MetaTrader Raw and cTrader account choices. Pepperstone may suit traders who want its own web and mobile platform. Compare total costs and the legal entity available to you.
Which broker has lower spreads?
IC Markets advertises Standard spreads from 0.8 pips. Pepperstone’s August 2026 EUR/USD Standard average was 1.1 pips. Both offer Raw-style spreads from 0.0 pips. Minimums and averages are different measures.
Which broker charges less commission on Raw accounts?
The cited USD schedules list $3.50 per lot per side for IC Markets MetaTrader Raw and Pepperstone Razor on its stated platform schedule. Other platforms and account currencies may differ.
Which has the lower minimum deposit?
Both show no universal opening minimum on their regular account offerings. IC Markets Global lists $0 for its regular accounts. Pepperstone commonly sets a $10 minimum for individual electronic deposit methods.
Do both brokers support TradingView?
Yes, on eligible accounts. IC Markets connects TradingView through cTrader Raw. Pepperstone includes TradingView in its platform offering, with account and regional conditions.
Are IC Markets and Pepperstone regulated?
Yes. IC Markets Global operates through Seychelles FSA-regulated Raw Trading Ltd. Pepperstone has several legal companies, including Pepperstone Markets Limited in the Bahamas. Check the regulator for your specific account.
Can I trade cryptocurrency CFDs with both brokers?
Both offer cryptocurrency CFDs where permitted. Available coins, leverage, trading hours and restrictions depend on your legal entity. CFDs do not give ownership of the underlying cryptoasset.
Is a Standard or Raw account better for beginners?
Standard pricing can be easier to follow because the ordinary forex charge is included in the spread. Raw or Razor pricing adds commission. Neither reduces the risk of leveraged trading.
Related comparisons
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you can afford to take that risk. This comparison is general information, not personal financial advice.