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Brokers · Comparison
IC Markets vs Pepperstone
Two of the best raw-spread MT4 brokers, head to head. Both are built for active traders — here's where they differ on regulation, platforms, and cost.
IC Markets and Pepperstone are both go-to brokers for scalpers, high-frequency strategies, and EA users, with raw-spread pricing and fast execution. The differences are at the edges — regulation, platform choice, and minimum deposit. Here's the head-to-head.
| Feature | IC Markets | Pepperstone |
|---|---|---|
| Our score | 4.0 / 5 | 4.5 / 5 |
| Minimum deposit | $200 | $0 |
| Regulation | ASIC, CySEC, FSA | ASIC, FCA, CySEC, DFSA |
| Platforms | MT4, MT5, cTrader | MT4, MT5, cTrader, TradingView |
| Best for | Scalping, EAs, Raw spread | Trusted, Tier-1 geos, Copy trading |
| US clients | Not accepted | Not accepted |
Scores use our weighted editorial rubric; figures are accurate to our latest review — confirm current terms on each broker's site.
How they compare
On execution and raw spreads they're closely matched — both are excellent for active trading. The gaps: Pepperstone adds tier-1 FCA regulation (alongside ASIC), a $0 minimum, and the widest platform line-up (MT4, MT5, cTrader, and TradingView). IC Markets counters with a long pedigree in scalping and automated trading and its own cTrader option. Neither serves US clients.
Which should you choose?
For most traders — especially in the UK and Australia — Pepperstone edges it on regulation, platform choice, and accessibility. Dedicated scalpers and EA users who want IC Markets' specific conditions will be happy there too. Read the full IC Markets review and Pepperstone review.
Compare them on a demo
Open a free demo with each, run your strategy, and compare real spreads and execution before committing.
⚠ Trading forex and CFDs is high-risk and most retail traders lose money. This is not financial advice.
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Related
See our IC Markets review, Pepperstone review, the best MT4 brokers, XM vs Exness, and FxPro vs Pepperstone.
Frequently asked questions
IC Markets or Pepperstone — which is better?
Both are top raw-spread brokers for active traders. IC Markets is laser-focused on scalping and EAs with raw pricing and fast execution. Pepperstone matches the tight spreads but adds tier-1 FCA regulation, a $0 minimum, and the widest platform choice. For most traders Pepperstone edges it; dedicated scalpers may still prefer IC Markets.
Which has tighter spreads?
Both offer raw-spread accounts (IC Markets' Raw, Pepperstone's Razor) with very low spreads plus a commission. In practice they're closely matched; your real cost depends on the instruments and times you trade, so compare on a demo.
Which is better for scalping and EAs?
Both are scalping- and EA-friendly with fast execution. IC Markets is especially associated with high-frequency and automated trading, while Pepperstone offers the same plus broader platform options including cTrader and TradingView.
Are IC Markets and Pepperstone regulated?
Yes. IC Markets holds ASIC, CySEC, and FSA licences in our data; Pepperstone holds ASIC, FCA, CySEC, and DFSA. Pepperstone's FCA licence gives it a tier-1 edge for UK traders. Neither accepts US clients.
Do they accept US clients?
No. Neither IC Markets nor Pepperstone accepts US residents. US traders need an NFA-regulated broker such as OANDA, tastyfx, or Forex.com.
Trading foreign exchange and contracts for difference (CFDs) carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. You could lose some or all of your deposited funds; do not trade with money you cannot afford to lose. Past performance is not indicative of future results. Nothing on MT4Download.com is financial, investment, or trading advice. Consider your circumstances and seek independent advice if needed.