IC Markets and Pepperstone are two Australian CFD brokers often compared: same founding era (2007 for IC Markets, 2010 for Pepperstone), same focus on competitive spreads, same MetaTrader and cTrader platforms. But which one to choose in 2026 for scalping and active trading? Our detailed comparison helps you decide. Check our profiles: IC Markets and Pepperstone, plus our best CFD brokers comparison.
Overview of both brokers
IC Markets was founded in 2007 in Australia. With over 200,000 clients in 200 countries, it has established itself as a benchmark for ultra-competitive spreads and fast execution (latency < 40 ms). The broker offers three account types: Standard, Raw Spread, and cTrader Raw, with a clear focus on active traders and scalping.
Pepperstone was founded in 2010 in Melbourne. In less than 15 years, it has over 400,000 active clients in 170 countries. Pepperstone stands out with competitive spreads, fast execution, and a very comprehensive platform offering including TradingView. The broker targets both beginners and experienced traders.
Both brokers share a similar philosophy: providing optimal trading conditions for active traders, with tight spreads and fast execution. But the details make the difference.
Regulation and security
Both brokers are well regulated, but Pepperstone wins on the number of regulators:
- IC Markets: ASIC (Australia), CySEC (Cyprus), SCB (Bahamas)
- Pepperstone: ASIC (Australia), FCA (United Kingdom), CySEC (Cyprus), BaFin (Germany), DFSA (Dubai), SCB (Bahamas)
Both brokers segregate client funds in top-tier banks. Pepperstone uses NAB and Barclays, and participates in compensation schemes up to 85,000 GBP (FCA) and 20,000 EUR (CySEC). IC Markets participates up to 20,000 EUR (CySEC) and 250,000 AUD (Australia). Both offer negative balance protection for retail clients.
Pepperstone's advantage is its regulation by the FCA and BaFin, two highly respected European regulators. IC Markets compensates with the more generous Australian compensation scheme (250,000 AUD).
Fees and spreads
IC Markets
- Standard account: spreads from 1.0 pip, no commission, $200 deposit
- Raw Spread account: spreads from 0.0 pip, commission $3.50 per lot per side ($7 round trip)
- cTrader Raw account: spreads from 0.0 pip, commission $3 per lot per side ($6 round trip)
- No inactivity, deposit, or withdrawal fees
Pepperstone
- Standard account: spreads from 0.6 pip, no commission, $200 recommended deposit (no minimum required)
- Razor account: spreads from 0.1 pip, commission $3.50 per lot per side ($7 round trip)
- No inactivity, deposit, withdrawal, or maintenance fees
Fee verdict: very tight. On the Standard account, Pepperstone wins with 0.6 pip vs 1.0 pip. On raw accounts, IC Markets has a slight edge with 0.0 pip vs 0.1 pip, and the cTrader Raw account at $3 per lot per side ($6 round trip) is cheaper than Pepperstone's Razor at $3.50 ($7 round trip). For pure scalpers using cTrader, IC Markets is slightly more advantageous.
Trading platforms
Both brokers offer the same core platforms:
- IC Markets: MT4, MT5, cTrader (desktop, web, mobile)
- Pepperstone: MT4, MT5, cTrader, TradingView (desktop, web, mobile)
Pepperstone has the advantage of integrating TradingView directly, which may interest chartists who use this platform as their primary technical analysis tool. Otherwise, the offerings are equivalent. Both brokers offer unlimited demo accounts, a plus for training.
Available assets
- IC Markets: 60+ forex pairs, 19 indices, 12 commodities, 150+ CFD stocks, crypto, bonds, futures
- Pepperstone: 60+ forex pairs, 20+ indices, 14 commodities, 1,200+ CFD stocks, 80+ ETFs, crypto, forex indices
Pepperstone wins hands down on the number of CFD stocks (1,200+ vs 150+) and offers ETFs, which IC Markets doesn't explicitly offer. For traders diversifying into stocks, Pepperstone is the better choice. On forex, both are tied with 60+ pairs.
Leverage
- IC Markets: 1:500 (ASIC/SCB), 1:30 (CySEC/EU)
- Pepperstone: 1:500 (ASIC/SCB), 1:30 (CySEC/BaFin/EU)
Identical on this point, both brokers apply the same ESMA limits in Europe (1:30 forex) and 1:500 outside the EU. For traders seeking high leverage, you'll need to go through the SCB entity (Bahamas) at both brokers.
Demo account
- IC Markets: free unlimited demo account, $10,000 virtual capital, on MT4/MT5/cTrader
- Pepperstone: demo account available, no time limit
Both offer equivalent demo conditions, perfect for training without risk.
Summary table
| Criterion | IC Markets | Pepperstone |
|---|---|---|
| Founded | 2007 | 2010 |
| Clients | 200,000+ | 400,000+ |
| Regulators | ASIC, CySEC, SCB | ASIC, FCA, CySEC, BaFin, DFSA, SCB |
| Min spread (Standard) | 1.0 pip | 0.6 pip |
| Min spread (Raw) | 0.0 pip | 0.1 pip |
| Raw commission | $7 RT ($3.50/side) | $7 RT ($3.50/side) |
| cTrader commission | $6 RT ($3/side) | $7 RT ($3.50/side) |
| Platforms | MT4, MT5, cTrader | MT4, MT5, cTrader, TradingView |
| CFD stocks | 150+ | 1,200+ |
| ETFs | No | 80+ |
| Inactivity fees | None | None |
| Max leverage (outside EU) | 1:500 | 1:500 |
Which broker for which profile?
Choose IC Markets if:
- You're a pure scalper seeking the tightest spreads (0.0 pip)
- You use cTrader as your primary platform ($3 per side commission)
- You want the lowest possible transaction cost on cTrader
- You appreciate the unlimited demo account with $10,000 virtual capital
Choose Pepperstone if:
- You want a broker regulated by 6 authorities (including FCA and BaFin)
- You trade CFD stocks (1,200+ vs 150+)
- You use TradingView as your charting platform
- You want CFD ETFs and forex indices
- You want a better spread on the Standard account (0.6 pip vs 1.0 pip)
Conclusion
IC Markets and Pepperstone are both excellent brokers for scalping and active trading, with very similar conditions. IC Markets wins by a narrow margin for pure scalping thanks to its 0.0 pip spreads and cheaper cTrader Raw account ($3 per lot per side). Pepperstone wins on asset diversity (1,200+ CFD stocks, ETFs), number of regulators (6 vs 3), and TradingView integration. To go further, check our IC Markets profile, our Pepperstone profile, and our prop firm comparator.
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