General Breakdown. This graph highlights the key scores from each Macro, uniquely calculated by us.
- IC Markets
Tier 1 Regulation
Tier 2 Regulation
Tier 3 Regulation
Deposit and Withdrawal
Costs and Fees
Forex Fixed Spreads
Forex Variable Spreads
Fees on Stocks
Fees on Indices
Fees on Cryptocurrencies
Special Trading Conditions
Available Trading Techniques
IC Markets vs Pepperstone: Which Broker is Right for You?
Are you looking for a reliable and trustworthy broker to trade with? IC Markets and Pepperstone are two of the most popular brokers in the market, but which one is the best for you? In this comparison article, we will take a closer look at the features of both brokers to help you make an informed decision.
Security and Regulations
When it comes to security and regulations, both IC Markets and Pepperstone are highly regulated and offer a safe trading environment. IC Markets is regulated by CySEC, ASIC, FSA, and SCB, while Pepperstone is regulated by FCA, ASIC, DFSA, CySEC, SCB, and CMA. Pepperstone has a slightly higher security rating of 94, compared to IC Markets’ rating of 93.
Both brokers offer demo accounts, which are a great way to test their platforms and trading conditions. Pepperstone’s demo account lasts for 30 days for MT4 and MT5 accounts, and is unlimited for cTrader accounts. The virtual funds provided are $50,000, and can be restored by contacting customer support. IC Markets’ demo account is unlimited, and traders can choose the amount of virtual funds they want (up to $5,000,000). The virtual funds can also be restored by contacting customer support.
Both brokers offer a range of account types, including standard accounts, professional accounts, and more. There is no minimum deposit required for either broker, but Pepperstone suggests a minimum deposit of $200. Both brokers offer over 10 base currencies, including USD, EUR, AUD, and GBP, to help traders avoid currency conversion fees. Payment methods include wire transfers, credit/debit cards, eWallets, and several local payment methods such as Union Pay in China and POLi in Australia.
Pepperstone offers copy-social trading through third-party platforms such as Duplitrade and Myfxbook, while IC Markets offers copy-social trading through ZuluTrade.
Pepperstone offers 70 forex pairs, 15 commodities, 14 indices, 70 crypto assets, and 60+ stocks. IC Markets offers 63 forex pairs, 21 commodities, 25 indices, 63 crypto assets, and over 1600 stocks. Both brokers offer CFD trading only, which makes them better options for short-term investing rather than long-term investing.
Both brokers offer variable spreads, with Pepperstone’s spreads starting from 0 pip on forex (lower than the market average), and IC Markets’ spreads starting from 0 pip on forex as well. Both brokers charge commissions per lot traded, with Pepperstone’s commissions up to $7 per lot, and IC Markets’ commissions up to $7 per lot as well. Both brokers charge variable spreads on stocks. These low spreads and commissions make both brokers good options for scalping.
Both brokers offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as cTrader. All the platforms offered by both brokers allow traders to engage in algo trading, and both brokers offer VPS services. Neither broker offers proprietary platforms.
Education and Customer Care
Pepperstone offers a good range of educational material, but it’s mostly for beginner traders, so professional/advanced traders may not find that content useful other than Pepperstone webinars. IC Markets offers a wide range of educational material, including webinars and podcasts, for traders of all levels. Both brokers offer easy-to-contact customer care via email, telephone, and live chat, with over 12 languages available for Pepperstone and over 18 languages available for IC Markets. Pepperstone has won the “Best Customer Service in Europe” award in 2019.
In conclusion, both IC Markets and Pepperstone are great brokers with a lot to offer. Pepperstone has a slightly higher security rating and offers a wider range of markets, while IC Markets offers more stocks and a wider range of educational material. Both brokers offer low spreads and commissions, and a range of account types and payment methods. Ultimately, the choice between IC Markets and Pepperstone will depend on your individual needs and preferences.