IC Markets vs Pepperstone — Which ECN Broker Wins in 2026?
Side-by-Side Comparison
| Category | IC Markets | Pepperstone |
|---|---|---|
| Our Rating | 4.7 / 5.0 | 4.6 / 5.0 |
| Regulation | ASIC, CySEC | ASIC, FCA, CMA |
| Min Deposit | $200 | $200 |
| Spread | From 0.0 pips | From 0.0 pips |
| Leverage | 1:500 | 1:200 |
| Platforms | MT4, MT5, cTrader | MT4, MT5, TradingView |
| Founded | 2007 | 2010 |
| Scalping | ||
| Withdrawals | ||
| Gold Trading |
The Winner: IC Markets
Both IC Markets and Pepperstone are top-tier ECN brokers with spreads from 0.0 pips, fast execution, and multi-regulator oversight. IC Markets takes the edge with cTrader support, lower commissions on the Raw Spread account ($3.50/lot), and a stronger reputation among algorithmic traders. Pepperstone wins on regulatory breadth (FCA + ASIC + CMA) and instrument count (1200+).
Choose IC Markets if...
- cTrader is your platform of choice
- You run Expert Advisors (EAs) extensively
- Lower all-in trading costs matter most
- True ECN execution with Level II pricing
Choose Pepperstone if...
- You want FCA + ASIC + CMA regulation
- A wider range of instruments matters (1200+)
- You prefer trading directly on TradingView
- You want competitive Razor spreads with $3 commission
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.
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Risk Warning: Trading Forex, CFDs, and cryptocurrencies carries significant risk. You may lose more than your deposit. Past performance is not indicative of future results.
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