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IC Markets vs Pepperstone
A field-by-field comparison based on the current BrokaBoy catalogue. Check current pricing and the regulated entity on each broker's website before deciding.
Last updated: 4 October 2026 · Reviewed by BrokaBoy Research Team
| Field | IC Markets | Pepperstone |
|---|---|---|
| BrokaBoy score | 8.1/10 | 9.2/10 |
| Trustpilot rating | Trustpilot 4.8 (56,055 reviews) | Trustpilot 4.2 (3,580 reviews) |
| Listed minimum deposit | $200 | $10 |
| Advertised spread from | 0.0 pips | 0.0 pips |
| Advertised maximum leverage | Up to 1:5000 (entity dependent) | 1:400 |
| Regulators | ASIC, CySEC, FSA, SCB | FCA, ASIC, CySEC, DFSA, SCB, BaFin, CMA |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader | MetaTrader 4, MetaTrader 5, cTrader, TradingView |
| Instruments | Forex, CFDs, Stocks, Crypto, Indices | Forex, CFDs, Indices, Commodities, Crypto |
| Account types | Standard, Raw Spread, cTrader | Standard, Razor |
| Founded | 2007 | 2010 |
| Spread type | Raw variable spreads from 0.0 pips on the Raw Spread account; Standard account folds the cost into a wider spread. | Razor account quotes raw spreads from 0.1 pips; Standard account is commission-free with a markup. |
| Commission | $3.50 per lot per side on Raw Spread and cTrader accounts; no commission on Standard. | Around $3.50 per lot per side on Razor; zero on Standard. |
| Overnight / swap | Swaps applied daily at 5pm New York; triple charge on Wednesdays. Swap-free options on request. | Overnight financing charged or credited daily, with a triple debit mid-week. |
| Withdrawals | No broker-side withdrawal fee on most methods; intermediary bank charges may apply to wires. | Free withdrawals to most cards and e-wallets; international wires may incur a bank fee. |
Key differences
- Pepperstone has a lower listed minimum deposit ($10 vs $200).
- Pepperstone has the higher BrokaBoy score (9.2/10 vs 8.1/10).
- Both brokers hold licences with ASIC, CySEC, SCB.
- Only Pepperstone lists TradingView among its platforms.
- Only IC Markets lists Stocks among its instruments.
- Only Pepperstone lists Commodities among its instruments.
Which should you choose?
- Choose Pepperstone if a lower listed opening deposit is your priority.
- Choose Pepperstone if you want the broader platform list shown in our catalogue (4 vs 3).
- Choose IC Markets if access to Stocks is essential, and confirm it is available under your entity.
- Choose Pepperstone if access to Commodities is essential, and confirm it is available under your entity.
- Choose the broker whose regulated entity covers your country and provides the protections you need; confirm this on the regulator's register.
Frequently asked questions
Which has the lower minimum deposit, IC Markets or Pepperstone?+
Pepperstone has the lower listed minimum deposit ($10 vs $200). Confirm current terms with each broker.
Are IC Markets and Pepperstone regulated by the same authorities?+
They share ASIC, CySEC, SCB. IC Markets lists ASIC, CySEC, FSA, SCB; Pepperstone lists FCA, ASIC, CySEC, DFSA, SCB, BaFin, CMA in our catalogue.
Which has the higher BrokaBoy score?+
Pepperstone scores 9.2/10 against 8.1/10. The score is calculated from advertised catalogue data and excludes Trustpilot ratings.
Do IC Markets and Pepperstone support the same platforms?+
Both list MetaTrader 4, MetaTrader 5, cTrader. Pepperstone lists more platforms overall.
