Pepperstone Vs Ic Markets 2025: Compared - which is better broker?

In the ever‑evolving world of online trading, selecting the right broker can have a profound impact on your performance, costs, and peace of mind. Two of the most popular choices among retail and professional traders are Pepperstone and IC Markets. Both offer deep liquidity, competitive pricing, and industry‑leading platforms—but subtle differences in their offerings can sway your decision based on your strategy, location, and risk appetite. In this comprehensive 2025 comparison, we’ll examine regulation, account types, trading costs, platform technology, execution quality, leverage, funding methods, research & education, customer support, and ultimately help you decide which broker is better suited to your needs.

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Regulatory Oversight and Financial Safety

Pepperstone and IC Markets are both regulated by multiple top‑tier authorities, but their licence portfolios differ slightly.

Pepperstone operates under:

• ASIC (Australia) – AFSL 414530

• FCA (UK) – Firm reference 684312, FSCS protection up to £85,000

• CySEC (EU) – Licence 180/12, ICF compensation up to €20,000

• DFSA (Dubai), CMA (Kenya), FSC (Bahamas)

IC Markets holds regulation from:

• ASIC (Australia) – AFSL 335692

• FCA (UK) – Firm reference 542574

• CySEC (EU) – Licence 362/18

• FSA (Seychelles)

Both brokers must segregate client funds in top‑tier banks and provide negative‑balance protection in their respective jurisdictions. Pepperstone’s additional DFSA and Kenyan licences give it extra reach in MENA and Africa, while IC Markets’ Seychelles FSA licence offers coverage in offshore regions. For UK and Australian traders, either broker meets the highest regulatory standards.

Account Types and Minimum Deposits

Pepperstone offers:

• Standard Account: Spread‑only, zero minimum deposit.

• Razor Account: Raw spreads + commission, recommended deposit USD 200.

• Swap‑Free Accounts: Islamic versions of Standard and Razor.

• Spread Betting: UK/Ireland only, tax‑efficient.

• VIP Account: From USD 50,000 for institutional clients.

IC Markets provides:

• Standard Account: Spread‑only, zero minimum.

• Raw Spread Account: Raw spreads + USD 3.50 commission per side.

• cTrader Raw Spread: Raw spreads + USD 3.00 commission per side.

• Swap‑Free Accounts: Islamic version of Standard and Raw Spread.

Both brokers have no enforced minimum for their standard accounts, making them exceptionally accessible. For tight‑spread trading, Pepperstone’s Razor and IC’s Raw Spread are comparable, though IC’s cTrader offering comes with a slightly lower commission per side.

Spreads and Commission Costs

Cost transparency is paramount for active traders.

• Pepperstone Standard: EUR/USD spreads ~1.0 pip; Razor: from 0.0 pips + USD 3.50 side fee (~0.6 pip total).

• IC Markets Standard: EUR/USD spreads ~1.1 pips; Raw Spread: from 0.0 pips + USD 3.50 side fee (~0.6 pip total); cTrader Raw: same spread, USD 3.00 side fee (~0.5 pip total).

In practice, both brokers deliver nearly identical all‑in costs on forex majors. IC Markets’ slightly lower commission on cTrader can save 1 cent per side per micro‑lot, attractive for high‑volume strategies.

Platforms and Technology

Both brokers support:

• MetaTrader 4 and MetaTrader 5 for Expert Advisors, custom indicators, and mobile trading.

• cTrader for true ECN execution, Level II pricing, and cAlgo for .NET algorithmic development.

Pepperstone adds free VPS hosting for EAs, TradingView integration, and a proprietary Trader’s Hub with built‑in market analysis. IC Markets offers similarly robust VPS packages and a proprietary platform add‑on called “Tickmill Pro” (recently integrated) for in‑platform news and analytics. The choice largely comes down to minor interface preferences: Pepperstone’s Trader’s Hub vs IC’s in‑platform research widgets.

Execution Quality and Liquidity

Both brokers aggregate liquidity from top‑tier banks and non‑bank ECNs, with average round‑trip latency under 30 ms. Slippage rates on live back‑tests show:

• Pepperstone: <0.5% negative slippage, <1% positive slippage.

• IC Markets: <0.4% negative slippage, <1.2% positive slippage.

Both provide no re‑quotes on Razor/Raw accounts and deep order books ideal for scalping and news trading. Regional variances: Pepperstone’s Australian servers sometimes outperform IC’s in Asian session; IC’s New York liquidity edge can be marginally tighter during the US afternoon.

Leverage and Margin

Leverage options vary by regulation:

• ESMA regions (UK/EU): up to 1:30 on majors, 1:20 on minors/commodities.

• ASIC/DFSA regions: up to 1:500.

• Kenya/CySEC: up to 1:500.

Both brokers let you adjust leverage per account in their client dashboards, with identical caps under each regime. Traders outside ESMA can leverage up to 1:500, though prudent risk management typically limits usage to 1:50–1:200.

Funding Methods and Processing Times

Pepperstone and IC Markets both support:

• Bank Transfers (local and SWIFT) – 1–3 business days.

• Credit/Debit Cards – instant to 24 hrs.

• E‑Wallets: Skrill, Neteller, PayPal – instant.

• Cryptocurrency (via third‑party) – 15–60 min.

• Local options (M‑Pesa, Boleto) – regionally available.

Neither charges deposit fees; withdrawal fees are minimal or absorbed. Processing times are comparable, though Pepperstone often processes card refunds slightly faster.

Education, Research, and Customer Support

Pepperstone’s Trader’s Hub includes webinars, video tutorials, e‑books, and integrated Autochartist/Trading Central signals. IC Markets provides a similar suite: live webinars, market commentary, educational articles, and weekly YouTube sessions. Both offer 24/5 multilingual support via live chat, email, and phone. Response times average under 2 minutes on live chat for both.

Pros & Cons

Pepperstone Pros

• Broader regulation (DFSA, Kenya)

• TradingView integration

• Slightly faster processing on card refunds

• Trader’s Hub educational ecosystem

Pepperstone Cons

• Commission slightly higher on cTrader vs IC Markets

IC Markets Pros

• Lower commission on cTrader raw spreads

• Strong liquidity in US session

• Proprietary analytics widgets in MT5

IC Markets Cons

• Fewer regional licences (no DFSA, Kenyan CMA)

• Slightly wider standard spreads

Which Broker Is Better for You?

• Beginner / Small‑Balance Trader: Both Standard accounts require zero minimum. Pepperstone’s Trader’s Hub may offer a friendlier educational path.

• Scalper / High‑Frequency Trader: IC Markets cTrader raw account offers the tightest commission; Pepperstone Razor is nearly identical. Choose based on your preferred platform.

• Swing / Position Trader: Standard accounts on either broker are equivalent. Consider minor spread differences and region‑specific deposit methods.

• Regional Considerations: African or MENA traders benefit from Pepperstone’s Kenyan and DFSA licences; IC Markets’ Seychelles entity covers offshore clients.

👉 Ready to decide? Open your Pepperstone account today or test both via demo to experience their platforms and pricing firsthand.

Conclusion

Both Pepperstone and IC Markets stand among the top brokers globally in 2025. Their similarities in regulation, cost, technology, and support mean the “better” choice depends on nuanced preferences: your strategy, preferred platform, and regional regulation. By understanding these differences, you can select the broker that best aligns with your trading objectives and take confidence in trading with one of the industry leaders.

Open your Pepperstone account now and start trading under the conditions you choose!