IC Markets vs Pepperstone — Which ECN Broker Wins in 2026?

Key Differences

IC Markets and Pepperstone are often mentioned in the same breath — and for good reason. Both offer institutional-grade ECN pricing, sub-millisecond execution, and multi-platform support. But dig deeper and clear differences emerge.

Trading Costs

IC Markets’ Raw Spread account charges $3.50 round turn per lot with spreads from 0.0 pips. Pepperstone’s Razor account charges $3.50 round turn as well (AUD-denominated accounts) with spreads also from 0.0 pips. In practice, the difference is negligible — fractions of a pip depending on the trading session.

Platform Choice

IC Markets offers MT4, MT5, and cTrader. cTrader is a significant advantage for traders who want advanced charting, Level II depth of market, and algorithmic trading without MQL. Pepperstone offers MT4, MT5, and TradingView — a unique combination that appeals to traders who prefer TradingView’s interface.

Regulation

Pepperstone is regulated by the FCA (UK), ASIC (Australia), and CMA (Kenya) — giving it a broader regulatory footprint. IC Markets is regulated by ASIC and CySEC. For traders who prioritize regulatory diversity, Pepperstone has the edge.

Instrument Count

Pepperstone offers 1200+ tradable instruments across forex, indices, commodities, and shares. IC Markets offers 60+ currency pairs plus indices and commodities but fewer overall instruments.

FAQ

Which broker has faster execution?

Both offer sub-30ms execution on their ECN infrastructure. IC Markets claims 40ms average execution speed, while Pepperstone reports sub-30ms. In real-world testing, the difference is imperceptible.

Can I scalp on both brokers?

Yes. Both brokers explicitly allow scalping with no restrictions or holding time requirements.

Which broker has better customer support?

Both offer 24/7 live chat and email support. IC Markets is known for faster response times (average 45 seconds), while Pepperstone support is more detailed in technical responses.