IG Markets vs Pepperstone: Comparison and Analysis

IG Markets vs Pepperstone: A Comprehensive Comparison

When choosing a broker, it’s important to consider various factors such as security, markets, trading fees, account opening, social-copy trading, platforms, education, and customer care. In this comparison, we will analyse the similarities and differences between IG Markets and Pepperstone.

Security

IG Markets is regulated by several regulatory bodies, including ASIC, FMA, FSCA, NFA, MAS, DFSA, JFSA, FINMA, and BMA (Bermuda), with a security rating of 98. Pepperstone, on the other hand, is regulated by FCA, ASIC, DFSA, CySEC, SCB, and CMA, with a security rating of 94. Both brokers have a good reputation in terms of security, but IG Markets has more regulatory bodies overseeing its operations.

Demo Accounts

IG Markets offers an unlimited demo account with $30,000 virtual funds, which can be restored by contacting customer support. In contrast, Pepperstone offers a 30-day demo account for MT4 and MT5 accounts and an unlimited demo account for cTrader accounts, with $50,000 virtual funds that can also be restored by contacting customer support. Both brokers offer a generous demo account, but Pepperstone provides a longer duration for cTrader accounts.

Account Opening

IG Markets requires a minimum deposit of $300 for most countries, while Pepperstone has no minimum deposit in place but suggests a minimum deposit of $200. Both brokers offer a variety of payment methods, including wire transfers, credit/debit cards, and eWallets. IG Markets offers more account types, including a Standard account, Limited Risk account, Spread Betting account for UK account, Option and Turbo24 account for EU clients, Share Dealing account, Islamic account, Professional and Select account for advanced traders. Pepperstone offers a Standard account, Razor account, Spread Betting account, MAM/PAMM account, and Professional account for advanced traders.

Social-Copy Trading

IG Markets does not offer social or copy trading features, while Pepperstone allows traders to engage in copy trading through third-party platforms such as Duplitrade and Myfxbook. Therefore, if social or copy trading is important to you, Pepperstone may be a better option.

Markets

IG Markets offers a wider range of markets, including 90 forex pairs, 35 commodities, 80+ indices, 12 crypto assets, 16,000+ stocks, 5,400+ ETFs, and 30+ futures and options. In comparison, Pepperstone offers 70 forex pairs, 15 commodities, 14 indices, 70 crypto assets, and 60+ stocks. While Pepperstone provides a good range of markets, IG Markets offers more options, making it a better choice for traders who want a more diversified portfolio.

Trading Fees

Both brokers offer variable spreads, with IG Markets’ spreads starting from 0.6 pips on forex (in line with the market average), while Pepperstone’s spreads start from 0 pips on forex (lower than the market average). Pepperstone charges up to $7 per lot traded, while IG Markets charges a commission on shares but offers $0 commission on real US stocks for FCA, ASIC, DFSA, JFSA traders. These low spreads and commissions make both brokers ideal for short-term investments, but Pepperstone is a better option for scalping due to its lower spreads.

Platforms

IG Markets offers a proprietary platform, L2 Dealer for stockbroking, ProRealTime platform for advanced chart analysis, and MetaTrader 4 (MT4) available via WebTrader, Desktop, and Mobile. Pepperstone offers MetaTrader 4 (MT4) available via WebTrader, Desktop, and Mobile, MetaTrader 5 (MT5) available via WebTrader, Desktop, and Mobile, and cTrader available via WebTrader, Desktop, and Mobile. While IG Markets offers more platform options, Pepperstone’s platforms allow traders to engage in algo trading and offer VPS services.

Education/Customer Care

IG Markets offers an extensive education section suitable for every trader, including a dedicated Academy App. Their customer care is easy to contact via phone, email, and live chat, with over 13 available languages. 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. Their customer care is easy to contact via email, telephone, and live chat, with over 12 languages available. Pepperstone has won the “Best Customer Service in Europe” award in 2019.

Conclusion

Both IG Markets and Pepperstone are reputable brokers with good security measures and trading features. IG Markets offers a wider range of markets and account types, while Pepperstone provides lower spreads and commissions, making it a better option for scalping. Both brokers have excellent customer care, with Pepperstone winning an award for it. Therefore, the choice between IG Markets vs Pepperstone ultimately depends on individual preferences and trading goals.