United States
United Kingdom
Germany
Netherlands
Australia
United Arab Emirates
Canada
Italy
Spain
Austria
Croatia
Serbia
Portugal
CyprusPepperstone vs IC Markets
What each one charges, who licenses it, and how they rank against each other country by country.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The short version
We rank both for forex in 9 countries. Pepperstone comes out ahead in 8 of them, IC Markets in 1.
We score each country separately, based on the company that would actually hold your account there, so check your own country in the table below.
Of the 2 fees we could compare, IC Markets is cheaper on 1 and the other is the same.
Both hold top-tier (tier-1) licences: Pepperstone from ASIC and FCA, IC Markets from ASIC.
- IC Markets is cheaper for EUR/USD: 0.6 pips all-in, compared with 0.7 pips all-in at Pepperstone.Edge: IC Markets
- Neither charges an inactivity fee.
- We list Pepperstone in 11 of the 14 countries we cover and IC Markets in 9. They overlap in 9.Edge: Pepperstone
- Pepperstone gets more search attention than IC Markets (Market Signal 45 vs 40). That tells you how well known it is, not how good it is.
Where you can use each one
Where each one ranks on our list in every country we cover, its Coinish Score there, and the company that would hold your account. If a broker isn't allowed to take clients from a country, it isn't on that country's list.
Forex brokers
| Country | Pepperstone | IC Markets |
|---|---|---|
| Australia | #11 of 1660/100Locally licensed Pepperstone Group Limited · ASIC | #9 of 1661/100Locally licensed International Capital Markets Pty. Ltd. · ASIC |
| Austria | #10 of 2860/100EU passport Pepperstone EU Limited · CySEC | #11 of 2859/100EU passport IC Markets (EU) Ltd · CySEC |
| Croatia | #8 of 2660/100EU passport Pepperstone EU Limited · CySEC | #9 of 2659/100EU passport IC Markets (EU) Ltd · CySEC |
| Cyprus | #9 of 2860/100Locally licensed Pepperstone EU Limited · CySEC | #10 of 2859/100Locally licensed IC Markets (EU) Ltd · CySEC |
| Germany | #11 of 2960/100EU passport Pepperstone EU Limited · CySEC | #12 of 2959/100EU passport IC Markets (EU) Ltd · CySEC |
| Italy | #11 of 3160/100EU passport Pepperstone EU Limited · CySEC | #12 of 3159/100EU passport IC Markets (EU) Ltd · CySEC |
| Netherlands | #10 of 2860/100EU passport Pepperstone EU Limited · CySEC | #11 of 2859/100EU passport IC Markets (EU) Ltd · CySEC |
| Portugal | #10 of 2960/100EU passport Pepperstone EU Limited · CySEC | #11 of 2959/100EU passport IC Markets (EU) Ltd · CySEC |
| Spain | #11 of 2960/100EU passport Pepperstone EU Limited · CySEC | #12 of 2959/100EU passport IC Markets (EU) Ltd · CySEC |
| United Arab Emirates | #8 of 1158/100Locally licensed Pepperstone Financial Services (DIFC) Ltd · DFSA | Not listed |
| United Kingdom | #12 of 1761/100Locally licensed Pepperstone Limited · FCA | Not listed |
CFD brokers
| Country | Pepperstone | IC Markets |
|---|---|---|
| Australia | #13 of 1860/100Locally licensed Pepperstone Group Limited · ASIC | #11 of 1861/100Locally licensed International Capital Markets Pty. Ltd. · ASIC |
| Austria | #12 of 3060/100EU passport Pepperstone EU Limited · CySEC | #13 of 3059/100EU passport IC Markets (EU) Ltd · CySEC |
| Croatia | #10 of 2860/100EU passport Pepperstone EU Limited · CySEC | #11 of 2859/100EU passport IC Markets (EU) Ltd · CySEC |
| Cyprus | #11 of 3060/100Locally licensed Pepperstone EU Limited · CySEC | #12 of 3059/100Locally licensed IC Markets (EU) Ltd · CySEC |
| Germany | #13 of 3160/100EU passport Pepperstone EU Limited · CySEC | #14 of 3159/100EU passport IC Markets (EU) Ltd · CySEC |
| Italy | #13 of 3360/100EU passport Pepperstone EU Limited · CySEC | #14 of 3359/100EU passport IC Markets (EU) Ltd · CySEC |
| Netherlands | #12 of 3060/100EU passport Pepperstone EU Limited · CySEC | #13 of 3059/100EU passport IC Markets (EU) Ltd · CySEC |
| Portugal | #12 of 3160/100EU passport Pepperstone EU Limited · CySEC | #13 of 3159/100EU passport IC Markets (EU) Ltd · CySEC |
| Spain | #13 of 3160/100EU passport Pepperstone EU Limited · CySEC | #14 of 3159/100EU passport IC Markets (EU) Ltd · CySEC |
| United Arab Emirates | #9 of 1258/100Locally licensed Pepperstone Financial Services (DIFC) Ltd · DFSA | Not listed |
| United Kingdom | #13 of 1861/100Locally licensed Pepperstone Limited · FCA | Not listed |
Fees and features side by side
| Pepperstone | IC Markets | |
|---|---|---|
| Products | Forex, CFDs | Forex, CFDs |
| Owner | Pepperstone Group | Not verified yet |
| EUR/USD all-in cost | 0.7 pips, Razor (min spread 0.0 pips + $3.50 per lot per side) | 0.6 pips, Raw Spread on cTrader/TradingView (min spread 0.0 pips + $3 per $100,000 per side) |
| Inactivity fee | None | None |
| Withdrawal fee | $20, international bank withdrawals only; other methods free | None |
| Minimum deposit | $10 (Pepperstone Markets Limited) | $0 (Raw Trading Ltd (IC Markets Global)) |
| Instruments | 1,350+ | 2,850+ |
| Platforms | MT4, MT5, cTrader, TradingView | MT4, MT5, cTrader, TradingView, IC Mobile App |
| Deposit methods | Debit/credit card, Apple Pay, Google Pay, PayPal, Skrill, Neteller, Bank transfer, Crypto | Credit/debit card, PayPal, Neteller, Skrill, Wire transfer, BPAY, Broker to broker |
| Withdrawal time (stated) | up to 1 business day (cards, e-wallets, crypto); bank transfer up to 7 business days | processed within 1 working day; transfer time depends on method |
| Demo account | Yes | Not verified yet |
| Support | email, phone · 24/7 | live chat, email · 24/7 |
Every figure comes from the broker's own pages or its regulator. You'll find the sources in each review (Pepperstone, IC Markets).
Licences
IC Markets
- International Capital Markets Pty. Ltd.: ASIC (Tier 1)
- Raw Trading Ltd (IC Markets Global): FSA Seychelles (Tier 3 (offshore))
- IC Markets (EU) Ltd: CySEC (Tier 2)
Pepperstone vs IC Markets: common questions
Which is better, Pepperstone or IC Markets?
We rank both for forex in 9 countries. Pepperstone comes out ahead in 8 of them, IC Markets in 1. For reference, Pepperstone's best ranking is #8 of 26 forex brokers in Croatia, and IC Markets' best ranking is #9 of 26 forex brokers in Croatia.
Is Pepperstone cheaper than IC Markets?
IC Markets is cheaper for EUR/USD: 0.6 pips all-in, compared with 0.7 pips all-in at Pepperstone. Neither charges an inactivity fee.
Is Pepperstone or IC Markets better regulated?
Both hold top-tier (tier-1) licences: Pepperstone from ASIC and FCA, IC Markets from ASIC. Which company you actually sign up with depends on where you live; the country table on this page names it for each one.
Can I use both Pepperstone and IC Markets where I live?
We list Pepperstone in 11 of the 14 countries we cover and IC Markets in 9. They overlap in 9. For forex, you'll find both on our lists in Australia, Austria, Croatia, Cyprus, Germany, Italy, Netherlands and Portugal, among others.