Pepperstone vs IC Markets 2026
Both are regulated. The right choice depends on your trading style.
Pepperstone suits traders who value tighter spreads, lower minimum deposit (None vs $200), copy trading. IC Markets suits traders who prioritise more instruments (2,250 vs 1,200).
Head to head
| Pepperstone | IC Markets | |
|---|---|---|
| Primary regulator | FCA 684312 | ASIC 335692 |
| Regulation tier | tier-1 | tier-1 |
| Min deposit | None | $200 |
| EUR/USD spread | From 0.0 pips (ECN) | From 0.0 pips (ECN) |
| Instruments | 1,200+ | 2,250+ |
| MetaTrader | Yes (MT4+MT5) | Yes (MT4+MT5) |
| Copy trading | Yes | No |
| Real stocks | No — CFDs only | No — CFDs only |
| Inactivity fee | None | None |
| Founded | 2010 | 2007 |
| Headquarters | Melbourne, Australia | Sydney, Australia |
Regulation: Pepperstone vs IC Markets
Pepperstone is regulated by FCA under licence 684312 (Pepperstone Ltd). The FCA is a tier-1 regulator. Client funds are held in segregated accounts and negative balance protection applies.
IC Markets is regulated by ASIC under licence 335692 (International Capital Markets Pty Ltd). The ASIC is a tier-1 regulator. Client funds are held in segregated accounts and negative balance protection applies.
Both brokers are regulated by tier-1 authorities. Neither has a significant regulatory advantage over the other.
Spreads and fees
Pepperstone's EUR/USD spread is From 0.0 pips (ECN). IC Markets's EUR/USD spread is From 0.0 pips (ECN). Pepperstone offers tighter spreads on this pair.
Pepperstone does not charge an inactivity fee. IC Markets does not charge an inactivity fee.
Platforms and tools
Both Pepperstone and IC Markets support MetaTrader 4 and 5, so algorithmic traders and EA users can use either.
Pepperstone offers copy trading, IC Markets does not.
Minimum deposit
Pepperstone requires a minimum deposit of None. IC Markets requires $200. Pepperstone has the lower barrier to entry. Traders who want to start with less capital should consider Pepperstone.
Note that minimum deposits can vary by account type and by which regulatory entity serves your country. Some offshore entities allow lower deposits than the tier-1 entity.
Which is better for beginners?
Pepperstone is generally better for beginners because it offers copy trading, allowing new traders to replicate experienced traders automatically while learning. Pepperstone also has the lower minimum deposit of None, making it easier to start with a small amount. Both platforms are accessible to new traders, though neither is specifically designed as a beginner-only broker.
Which is better for experienced traders?
Both Pepperstone and IC Markets support MetaTrader, so experienced traders can use either without restriction. Pepperstone's tighter spreads (From 0.0 pips (ECN)) make it better for high-frequency and scalping strategies. IC Markets offers more instruments (2,250) for portfolio diversification.
Verdict: Pepperstone vs IC Markets
Choose Pepperstone if you want tighter spreads, lower minimum deposit (None vs $200), copy trading. The FCA licence (684312) gives it strong tier-1 regulatory backing.
Choose IC Markets if you want more instruments (2,250 vs 1,200). The ASIC licence (335692) means strong tier-1 regulatory protection.
Both brokers are legitimate and regulated. The choice comes down to your specific trading requirements.
Frequently asked questions
Pepperstone vs IC Markets: which is better?
Pepperstone is better for tighter spreads, lower minimum deposit (None vs $200), copy trading. IC Markets is better for more instruments (2,250 vs 1,200). If regulation quality is your priority, both have comparable regulation.
Is Pepperstone or IC Markets safer?
Both Pepperstone (FCA 684312) and IC Markets (ASIC 335692) are regulated by tier-1 authorities. Both segregate client funds.
What is the minimum deposit for Pepperstone and IC Markets?
Pepperstone minimum deposit: None. IC Markets minimum deposit: $200. Minimums vary by entity and account type.
Do Pepperstone and IC Markets have MetaTrader?
Yes, both support MetaTrader 4 and MT5.