To figure out the answer, it is essential to compare Pepperstone vs IC Markets in a systematic way by looking at what they have to offer.
Brokers registered from the same area usually have similar types of service so it's normal to see them in a competitive manner. One example is Pepperstone and IC Markets that originate from Australia. Both are quite reputable as experienced brokers and are frequently mentioned in many top broker lists across various financial media. If you want to trade in an Australian broker and are in confusion to choose between IC Markets and Pepperstone, here's a comprehensive analysis to help you make a reasonable decision.
Which Broker has the Better Spread?
When accounting for the spread as a cost of trading, it should be no surprise that a smaller spread is preferable for traders. But, it might be challenging to acquire spread information from brokers because not all brokers post their spread data in a clear and accessible manner.
See also: Forex Brokers Spread Comparison
Traders may still pick their preferred brokers based on the sort of spreads offered by each of the brokers. In this particular instance, Pepperstone offers its prices with a variable spread from 0.0 pips in their Razor account, while IC Markets also offers the same minimum spreads on its Raw Spread account. When it comes to the Standard account, IC Markets comes out slightly better as it offers a minimum 0.6 EUR/USD spread compared to Pepperstone's 0.8 EUR/USD spread.
IC Markets vs Pepperstone, Which Offers the Superior Trading Platform?
If brokers don't give their clients an easy-to-use navigation platform, they won't care much about any other services they offer. Some brokerage firms have platforms that are unnecessarily difficult to use, which is unpleasant for their clients. Without the trading platform, it is impossible to carry out any transactions related to the market. Also, trading platforms have price charts and a variety of analytical tools that can help traders come up with their trading strategies.
Trading with TradingView, cTraders, MetaTrader 4, and MetaTrader 5 are all supported by Pepperstone. The offer covers trailing-stop trading, one-click trading, mobile trading, and pending order functionality.
On the other hand, IC Markets offers trading with ProDeal, IRESS, cTraders, MetaTrader 4, and MetaTrader 5, along with the assistance of mobile trading, browser-based trading, mobile trading, pending orders, trailing stop orders, and one-click trading.
Which Offers Better Trading Products?
It is important to remember that forex brokerages provide clients with access to a variety of trading instruments in addition to currency pairings. That way, traders could have access to a variety of exciting options, allowing them to explore extremely profitable new markets and diversify their portfolios.
In this example, Pepperstone facilitates trading with more instruments that include foreign exchange (forex), cryptocurrencies, contracts for difference (CFD), oil, stocks, metals, soft commodities, energies, agriculture, exchange-traded funds (ETF), spread betting, gold, and silver. In contrast, IC Markets mainly provides the opportunity to trade in forex, CFD, and cryptocurrencies.
Payment Methods of IC Markets and Pepperstone
Both Pepperstone and IC Markets provide multiple methods to withdraw and deposit funds. So in this case, they're quite similar and comparable to each other.
IC Markets allows users to pay using a variety of methods which include credit and debit cards, PayPal, Neteller, Wire Transfer, Neteller VIP, UnionPay, Skrill, Bpay, POLI, FasaPay, Broker to Broker, Thai Internet Banking, Klarna, RapidPay, Digital Wallets, and Vietnamese Internet Banking.
On the other hand, Pepperstone will take payments made by credit cards, bank transfers, VISA, MasterCard, debit cards, eWallets, PayPal, POLI, Neteller, BPAY, Skrill, UnionPay, and MPESA.
IC Markets vs Pepperstone Customer Support
When doing trade, providing help to customers is vital. Even the most experienced traders will, at some point, need support from the broker. It is imperative to remember that traders entering the market have a limited base of information. If you are going to start, you will need to be certain that the support team at Pepperstone and IC Markets are always available whenever you want their assistance. The customer service offered by Pepperstone and IC Markets is more than just helpful. It is essential to your success in the trading market. They can be contacted via the following communication means:
- Live Chat Option
Live chat is essential for multiple reasons. This is because it's an instant form of communication that enables a problem to be fixed right away. Also, chatting with someone in person is far less irritating than communicating via multiple emails. Pepperstone and IC Markets both feature live chat services for their customers. - Phone Support
Even if the majority of issues can be fixed by just making a live chat, it's always a pleasant experience whenever users can genuinely discuss their concerns with a real person at either Pepperstone or IC Markets. They may skip the unnecessary details and go right to the crux of the matter, which will spare them a great deal of time and irritation. There is no phone assistance available through IC Markets. In contrast, Pepperstone does provide customer service by phone. - Email Support
Email support is important while trading CFDs, commodities, stocks, cryptocurrencies, currencies, and products with Pepperstone or IC Markets. Occasionally, you may have a query that demands a specific representative of the Pepperstone or IC Markets support staff to respond satisfactorily. This is when e-mail support comes in handy. - Languages Supported
IC Markets has multiple languages from which users can benefit by choosing their desired one, such as English, Chinese, Japanese, Polish, Dutch, Afrikaans, Danish, German, and more. Meanwhile, Pepperstone is also a global trading platform that accepts several languages like English, Thai, Spanish, Portuguese, Russian, German, Italian, French, Polish, Arabic, Chinese, Arabic, and Vietnamese.
Regulations and Licences
Markets have a lot of rules and regulations. The more well-known and trustworthy brokerages will gladly display their regulatory certificates on the websites; if you can't see that, you should be very careful about trading with them.
Pepporstone and IC Markets both have their regulatory certificates on their websites. Pepperstone is licensed by numerous credible agencies from well-known jurisdictions such as ASIC (Australia), FCA (UK), CySEC (Cyprus), and others. Interestingly, IC Markets is also licensed by those bodies, making the two brokers tied in regard to regulatory standards.
Account Types
People who have never traded before can learn a lot from demo accounts. This way, users don't have to worry about losing their funds and can try out their trading talents in a secure place. IC Markets and Pepperstone provide a demo account for that purpose. But beyond that, they also make sure to offer various trading conditions in live accounts. Here are the categories:
Micro Account
These are best for traders who want to take only a little risk and tend to focus mainly on forex trading. This is what most beginners do. Neither Pepperstone nor IC Markets specifically have Micro accounts, but both state that they allow clients to start trading from a micro lot (0.01).
Standard Account
Traders with more experience can choose to use a Standard account. Users can trade commodities, stocks, cryptocurrencies, and other items with this account. For retail investors to access one of these trading accounts, they typically need to start trading with at least $100. Pepperstone provides a Standard account with an AUD200 minimum deposit, while IC Markets allows traders to open a Standard account with a starting capital of USD200.
MAM Account
Multi-Account Manage is what MAM stands for. This is extremely helpful for serious investors who want to execute all trades from one account. It is an advanced and powerful software program that lets one trader access all trades on accounts linked to a master account. Pepperstone and IC Markets both offer MAM accounts to their customers.
Islamic Account
Islamic accounts are for Muslim investors who adhere to the Shariah Law that prohibited the use of interest rates in speculative transactions. This may appear specialized, but it's essential since it follows Islamic principles. Both Pepperstone and IC Markets offer such a feature as they're open to many types of traders on a global scale.
Final Thought
In conclusion, your evaluation is ultimately the most crucial factor when deciding which broker is the best. If you are a regular trader, it is best to go with a broker who offers lower spreads. Regarding trading platforms, every trader uses MetaTrader 4 since it is the dominant technology. But if you want a unique experience with a more advanced platform, you should choose a broker who has a number of platforms to choose from. The same is true for trading products; if you want to test your skills in a variety of marketplaces, you should look for a broker who offers a broader range of choices when it comes to trading products.
When it comes to the abovementioned features, Pepperstone and IC Markets almost come toe-to-toe. But some little differences can be found in how IC Markets offers a slightly lower spread in the Standard account, and how Pepperstone is capable of supporting more trading products. By this observation, you might want to choose IC Markets if low spreads is your priority, or go to Pepperstone should your desire is to trade in a highly diverse market.
For more complete comparison between the two brokers, you may look into the table below:
| Feature | IC Markets | Pepperstone |
| General Rating |
4.02/5 |
3.31/5 |
|
| Score | 89 | 79 | |
| Trustpilot |
4.8/5 32767 users |
4.6/5 1965 users |
|
| 💼 Regulation | |||
| ❗Info | |||
| ⌛ Established | 2007 | 2010 | |
| 💲 Min Deposit | $200 | $0 | |
| ⚖ Max Leverage | 1:1000 | 1:400 | |
| 🔢 Spread | Variable | Variable | |
| 💸 Commissions | $3.50 | $7 | |
| 💡 Min Position | 0.01 lot | 0.01 lot |
| 💳 Payment | Crypto, BPAY, Credit/debit cards, FasaPay, Neteller, PayPal, Skrill, UnionPay and Wire transfer | Credit/debit cards, PayPal, UnionPay, Wire transfer, Neteller and Skrill | |
| 🏢 Office(s) |
|
|
| 🧩 Demo Account | |||
| 📁 Segregated Account | |||
| 🕋 Islamic Account | |||
| 👨💻 PAMM Account | |||
| 📈 Managed Account | |||
| LAMM Account | |||
| MAM Account |
| 💱 Hedging | |||
| 🇺🇸 US traders | |||
| 📫 Requires sending documents via postal mail | |||
| 🕛 Swaps | |||
| ☎️ Trading by telephone |
| 🏆 Trading contests | |||
| ⚡ Automated trading | |||
| 💰 Bonus offers | |||
| 📖 Free education | |||
| 👔 Affiliate program |
| 1️⃣ One-click trading | |||
| ⏱ Trailing stop | |||
| ⏳ Pending orders |
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| 🗣 Website Languages | Arabic, Chinese, English, German, Indonesian, Japanese, Korean, Malay, Portuguese, Russian, Spanish | Chinese, English, Russian |
| 🚪 Trade Now | Open IC Markets | Open Pepperstone |
18 Comments
Jan 13 2023
Looks like Pepperstone offers a wide range of tradable products. On the other hand, IC Market seems to have a small assortment of products that you can trade. I am interested in Exchange Traded Funds (ETF) on Pepperstone. What is that? And what advantages can I get by trading ETFs. And compared to other products like CFDs, what is the difference between these two? I have heard about that for the first time!
Jan 13 2023
Jan 13 2023
I need to know the details of the Pepperstone regulator and IC market:ASIC (Australia), FCA (UK), CySEC (Cyprus). What is the difference between these three regulators and what is the purpose of a broker that needs multiple regulators on his resume?
Jan 13 2023
- FCA VS CySEC
- ASIC Vs FCA
There must be a lot of regulation if brokers want to expand their services to another country and need to be regulated there. So if the brokers are not regulated, they cannot provide services there, such as building offices. And traders also cannot claim directly if the broker is not regulated.Jan 13 2023
I have seen the difference between Pepperstone and IC Market. Not only in this article but also in the broker review on this website :
- IC Market Review
- Pepperstone Review
In my opinion, if you want to open a standard account or are just a beginner, I prefer to choose Pepperstone because it is very clear that spreads start from 0.7 pips and IC Market seems to motivate our traders. I trade with Nguyen account spread. And I think the raw spread account in IC Market is their flagship product because it has many advantages. Meanwhile, I agree with the author, Pepperstone has many trading instruments that you can choose from. By the way, you can really see all the broker's review in this brokerxplorer which is very helping trader to find a suitable broker.Feb 6 2023
The more variety assets you can choose to trade, the more profit you can make. This means that trading not only depends on trading one or two commodities, you can profit on many assets, but of course you need a lot of money to do this. Fundamentally deposits are not a problem for me at all as they can be collected at the time of transaction. However, trading with Pepperstone requires more patience as it takes time to collect a deposit and it is worth the wait if you want to try other instrument trading.
Once you are ready to trade on one product, you can go to products that other brokers may not offer. And it will be really good chance after all to get diverse in trading
Feb 12 2023
I got a suggestion from a colleague to register with an Australian broker because their services are considered more bona fide and above standard. But my friend actually lives in Australia....
The problem is, I'm not an Australian, can I still enjoy trading services from Pepperstone or IC Markets? From the explanation above, I prefer IC Market because the spreads are low, but it's useless if I can't register. Those who have used their services but don't live in Australia, please help me
Feb 16 2023
I think it is true that the IC Market and Pepperstone brokers do have a lot in common. When I was asked to choose from the two accounts, I was confused about which one was suitable and good for me. Even though there is a slight difference in the complete offering of trading instruments at Pepperstone, on the other hand, all the services are almost the same.
At first, I thought the Pepperstone broker was suitable for me in trading because this broker offers more trading instruments. But lately, I've been interested in the IC Markets broker. I'm curious about the IRESS account offered by this broker.
Because I have never heard before that the IC Market broker has an IRESS platform, is IRESS a new platform on IC Market? What are the uses and advantages of this IRESS Platform?
I'm still curious about the IC market with regard to this platform. Friends, if anyone knows, can you help explain...
Feb 16 2023
Lalisa: I also just found out that the IC Markets broker has an IRESS platform, as I know that traders can trade through the MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader platforms if you choose to use IC Markets.
Now, because you explained about the IRESS account, I immediately checked it on the IC Market official website, but I didn't find the IRESS platform on the website. As far as I know, the IRESS platforms are TMGM and FP Market.
But I will explain a little about this IRESS platform. MT4 and MT5 are mostly known for trading forex, however, IRESS is more focused on giving traders access to stocks and sharing CFDs. Apart from that, the IRESS platform is also highly customizable and suitable for experienced traders to play with.
So maybe if you still feel like a beginner it's better to try MT4 because the trading platform is easier and simpler and is available at IC Market and Pepperstone.
Feb 16 2023
Sweety: Yes, it's true, I also agree with your answer that the IC market only provides 3 trading platforms, namely MT4 and MT5 and cTrader. for IRESS is not available at this broker.
IRESS is a platform that supports professional software choices. IRESS Trader is an advanced institutional trading platform.
Compared to the MetaTrader platform, IRESS has a simpler and more intuitive interface. In order to provide advanced MetaTrader functionality like IRESS, a number of plugins are required. These features include setting up advanced orders, setting alerts when there are financial news or price changes, custom charts, as well as advanced watchlist features.
MetaTrader has a mobile version of the application for those clients who travel a lot, or who wish to profit from trades executed on the sudden publication of financial news even when they are away from their computer screen.
IRESS mobile offers almost the same functions and features as its desktop version, including: live dynamic pricing, access to real-time financial news, portfolio and equity monitoring, advanced order management, enhanced charts.
From everything I've explained, you can understand that the IRESS platform is good, indeed the features are good and simple compared to Meta Trader. However, as you have explained, IRESS is suitable for experienced traders because it usually requires a fairly high deposit. So for novice traders with limited funds, it's better not to use IRESS.
Feb 16 2023
After I read this article, I thought that the IC market and Pepperstone had a lot in common, which differed only in the trading instruments.
Even though at first IC Markets provided a very low initial deposit, the requirement to open a standard account is that you only have to deposit $200, so yes it turns out to be the same as Pepperstone. Both have good and safe licenses for trading. and also both pepperstona and IC markets provide Islamic accounts in trading. so for those who don't like swap fees, you can still trade using one of these two brokers.
actually, I salute the Pepperstone broker, even though it was only established 3 years later than IC Market, this broker can provide good trading with complete instruments. even in terms of trading fees, the IC market is superior to its standard account due to its lower spreads and commissions than Pepperstone.
However, if you are an experienced trader, would you prefer a low-cost broker or one that provides complete instruments (Pepperstone)? oh yes one more thing, does Pepperstone provide a higher trading fee in terms of overall costs than IC Market?
Please friends if anyone knows can help explain.
Feb 16 2023
Keylen: even though my experience in the world of trading is not much, only about 5 months, but I got a lot of lessons in trading. At first I thought that a good trade would be trading at a low cost.
so when I first became a trader I chose a broker that provided low fees and low deposits. At the beginning, I was interested in this IC Markets broker, because the fees are quite low and there is no limit for deposits. that's why I think IC market is good for trading. even though in the end I didn't choose this broker, but after trading for 5 months I realized that it's not only trading costs that are important, but instruments that are also important for trading.
Pepperstone's range of tradable financial instruments is wider than most other brokers, with a large number of stock CFDs and crypto baskets that are difficult to find at similar brokers. CFD shares are only available on the MT5 platform. Pepperstone offers 900+ stock CFDs, which is the same amount as other brokers. The ion available includes 600+ US stocks from the NASDAQ and NYSE as well as an ion of UK, German, and Australian blue chips. It should be noted that CFD shares are only available on the MT5 platform. Leverage on stock CFDs up to 10:1.
I am amazed by the offers from this broker, I have opened mine at this broker but have not tried trading in real terms, only with a demo first. However, I believe the Pepperstone broker is good for trading, even though the spread is slightly higher than IC Market. But you need to know that the spread that I know both on Pepperstone and IC Market is not fixed. so even if you choose a standard account, not all products offer low spreads.
Mar 26 2023
Can you provide a comprehensive comparison of the features, fees, and trading conditions offered by IC Markets and Pepperstone, including factors such as available financial products, trading platforms, account types, customer support, and regulatory oversight, to help determine which broker may be the better option for Australian traders and investors?
Mar 26 2023
How do IC Markets and Pepperstone compare in terms of their reputation within the industry, the quality and scope of their educational resources, and their overall user experience, and what are some of the key factors that traders and investors should consider when choosing between these two brokers?
Jun 28 2023
@Ruhul Sharma: When it comes to reputation within the industry, both IC Markets and Pepperstone are well-regarded forex brokers. They have been operating for many years and have built a solid track record. Traders often praise their reliability and trustworthiness.
In terms of educational resources, both brokers offer a range of materials to help traders enhance their knowledge and skills. IC Markets provides educational articles, video tutorials, and webinars, while Pepperstone offers educational guides, trading courses, and market analysis. Both brokers aim to support traders with valuable educational content.
When it comes to user experience, both IC Markets and Pepperstone offer user-friendly trading platforms and intuitive interfaces. They provide access to popular platforms like MetaTrader 4 and MetaTrader 5, ensuring a seamless trading experience. Additionally, both brokers offer mobile trading apps for convenient trading on the go.
To choose between these two brokers, traders and investors should consider a few factors. Firstly, they can compare the trading conditions such as spreads, commissions, and minimum deposit requirements. Additionally, they can assess the range of tradable instruments and the availability of desired markets. It's also important to consider the level of customer support provided by each broker and their reputation for responsive and helpful service.
Jun 29 2023
Just have questions about MAM :
Nov 27 2023
My buddy recommended going with an Aussie broker, swearing by their top-notch services. Thing is, my pal's an Aussie, and here's the catch—I'm not.
So, can I still hop on the trading train with Pepperstone or IC Markets, even if I'm not rocking an Aussie passport? I'm leaning towards IC Markets because of their sweet low spreads, but it's all pointless if they won't let me sign up. Anyone who's given these brokers a spin but doesn't call Australia home, hit me up with some advice, please!
Nov 29 2023
Absolutely, if you're not in Australia, you're not confined to trading exclusively with IC Markets. This brokerage is accessible worldwide, catering to traders from various corners of the globe. What makes it even more appealing is that, depending on where you are, IC Markets falls under the jurisdiction of different regulatory bodies, ensuring adherence to financial standards and industry practices.
For instance, if you're situated in Europe, IC Markets might be regulated by the Cyprus Securities and Exchange Commission (CySEC). In the Seychelles, oversight could come from the Financial Services Authority (FSA). This diversified regulatory approach ensures that IC Markets complies with the specific standards set for different regions.
Even if you're not under the same regulatory authority as IC Markets, they typically still accept you as a trader. In such cases, you may fall under an offshore regulator, like Seychelles. It's worth noting that IC Markets is regulated by ASIC in Australia, FSA in Seychelles for global traders, and CySEC for European traders. European traders, for instance, benefit from a protection of up to EUR 20,000.
For more detailed information about IC Markets, you can find it here: [IC Markets Review: Is IC Markets A Good Broker For You?].