Broker comparison
IC Markets vs Pepperstone
Compare the named entities and their recorded terms.
Compare regulatory records and separately labelled entity-specific costs, platforms and protection. This is not a complete cost, withdrawal or safety ranking.
Costs, platforms and protection first
Costs
What will you pay for?
IC Markets
AU · International Capital Markets Pty Ltd
MT4 Raw: USD3.50 on USD accounts or AUD4.50 on AUD accounts per standard lot per side. Standard: zero commission; EUR/USD minimum 0.8 pips.
Conditions and evidence
Australian entity disclosures; check account/product applicability.
Account-currency rates for FX/metals. cTrader/TradingView instead charge USD3 per USD100,000 per side. Published minimums are not measured averages.
MT4 Raw commission — account currency / standard lot; EURUSD minimum; cTrader terms ↗ · 2026-09-30Pepperstone
AU · Pepperstone Group Limited
Razor FX/gold: from USD3.50/lot/side. Standard FX: no separate commission.
Conditions and evidence
Australian entity disclosures; check account/product applicability.
Costs table: Standard EUR/USD minimum 1 pip. The account overview’s 0.1 is not pair-specific. Holding costs are separate.
Costs and fees — account types / EURUSD table ↗ · 2026-09-29Platforms
Which tools can you use?
IC Markets
AU · International Capital Markets Pty Ltd
MT4/MT5; cTrader/TradingView use a separate Raw account.
Conditions and evidence
Australian entity disclosures; check account/product applicability.
Pepperstone
AU · Pepperstone Group Limited
MT4, MT5, cTrader, TradingView and Pepperstone platform.
Conditions and evidence
Australian entity disclosures; check account/product applicability.
Client protection
Who is covered, and how?
IC Markets
AU · International Capital Markets Pty Ltd
FAQ states retail negative balance protection.
Conditions and evidence
Australian entity disclosures; check account/product applicability.
Does not establish Pro coverage or insolvency compensation.
FAQ — Do you offer negative balance protection? ↗ · 2026-09-29Pepperstone
AU · Pepperstone Group Limited
January 2026 TMD: retail negative balance protection.
Conditions and evidence
Australian entity disclosures; check account/product applicability.
Client qualification applies. Check Pro terms separately.
TMD v6 January 2026 — pages 2–3 ↗ · 2026-09-29Detailed comparison table
Swipe horizontally to compare the same field.
| Costs | IC MarketsAU · International Capital Markets Pty LtdSources and caveats ↗ · 2026-09-30 | PepperstoneAU · Pepperstone Group LimitedSources and caveats ↗ · 2026-09-29 |
|---|---|---|
| Published minimum spread | Standard0.8 pips EUR/USD | Standard1 pip EUR/USD |
| Trading commission | MT4 Raw · USDUSD3.50 per lot / side MT4 Raw · AUDAUD4.50 per lot / side Standard0 FX/metals. Match account currency and platform. | Razor · FX / goldUSD3.50 per lot / side Standard · FX0 |
| Holding charges | Figure not recorded | Additional; check instrument and holding period |
| Currency conversion | Figure not recorded | Figure not recorded |
| Other charges | Figure not recorded | Figure not recorded |
Compare only matching accounts, instruments and currencies. Unrecorded does not mean free. Minimums are not observed averages.
Sources and caveats
IC Markets
International Capital Markets Pty Ltd: MT4 Raw: USD3.50 on USD accounts or AUD4.50 on AUD accounts per standard lot per side. Standard: zero commission; EUR/USD minimum 0.8 pips.
Account-currency rates for FX/metals. cTrader/TradingView instead charge USD3 per USD100,000 per side. Published minimums are not measured averages.
MT4 Raw commission — account currency / standard lot; EURUSD minimum; cTrader terms ↗ · 2026-09-30Pepperstone
Pepperstone Group Limited: Razor FX/gold: from USD3.50/lot/side. Standard FX: no separate commission.
Costs table: Standard EUR/USD minimum 1 pip. The account overview’s 0.1 is not pair-specific. Holding costs are separate.
Costs and fees — account types / EURUSD table ↗ · 2026-09-29Where should you start?
Where should you start?
Start with your country of residence
This comparison lacks the verified information needed to identify a candidate.
Find candidates by residence →Entities included in the regulatory comparison
First read the legal company name in your account agreement. Open the matching entity below; if it is not listed, check the other entities on the detail page. No residence-to-entity assignment is inferred.
Other group entities are outside this table; see the company details. Licence counts describe evidence coverage, not safety or superiority.
IC Markets
Matched to regulator records
ASIC
Other entities and evidence →What the sources show →Pepperstone
Matched to regulator records
CySEC
Other entities and evidence →What the sources show →Candidate criteria and open questions
Candidates have recorded active status, regulator verification, a licence number, source and check date. These are dated records, not a safety or account-opening guarantee. Display order follows your selection.
Recorded client-protection facts differ in this comparison scope
Open items and verification notes
- IC Markets
A licence is recorded, but verification remains unresolved. / Primary-source evidence is not yet available for a recorded licence. / A licence identifier is not exposed by the regulator source. / A stored legal entity is not catalog-applicable to this website.
- Pepperstone
A stored legal entity is not catalog-applicable to this website.
Check the evidence
A summary of the research covered here. Unconfirmed does not mean there is no issue.
Key differences at a glance
IC Markets
IC Markets research file- Entities compared
- 2
- Verified licence records in this comparison
- 1 of 2
- Open research issues
- 4
Pepperstone
Pepperstone research file- Entities compared
- 1
- Verified licence records in this comparison
- 1 of 1
- Open research issues
- 1
Comparison scope
Evidence currently in scope
This comparison includes only records currently in comparison scope. The full broker research file may contain additional entities, licences or evidence.
Key differences at a glance
Scan the decision-relevant recorded values, side by side. A difference is not a ranking.
4 of 5 differ
View definitions for these metrics
Side-by-side recorded values only. This summary does not score, rank or determine an evidence advantage.
- Verified licence records in this comparison
- Licences confirmed against a regulator register, out of the licences recorded in this scope.
- Entities compared
- Legal entities recorded for this broker inside the catalog-applicable comparison scope.
- Licence records with source links
- Licence rows that carry a stored regulator source URL in this comparison scope. This is not a document inventory.
- Client-protection evidence
- The canonical catalog-scope protection state, identical to the broker profile and the directory.
- Open research issues
- Distinct issue categories still open in this comparison. Each category counts once, not once per licence.
Rows where the recorded values are not identical carry a neutral marker. It shows that the files differ, not which value is preferable.
Open detailed differences and evidence
Differences first
This comparison covers recorded entities. Country eligibility is confirmed separately in Finder.
Evidence Snapshot
Entities compared
IC Markets
2 not in this comparison
Pepperstone
3 not in this comparison
Licence records
IC Markets
Pepperstone
Verified licence records in this comparison
IC Markets
Pepperstone
Unverified licence records
IC Markets
Pepperstone
Protection records
IC Markets
Pepperstone
Last checked
IC Markets
Pepperstone
Open research issues
IC Markets
- A licence is recorded, but verification remains unresolved.
- Primary-source evidence is not yet available for a recorded licence.
- A licence identifier is not exposed by the regulator source.
- A stored legal entity is not catalog-applicable to this website.
Pepperstone
- A stored legal entity is not catalog-applicable to this website.
Official website
Stored website URL. Not an open-account destination.
IC Markets
Pepperstone
Entities & Regulation
Legal entities
Each licence stays attached to its legal entity.
IC Markets
2 entities
2 licences · 1 verified of 2 · 1 unresolved · FSA · ASIC
View entity detail
IC Markets (SC) Ltd
Seychelles
Catalog-applicable to this website
FSA · —
Unverified · Not independently recorded
Primary-source evidence not yet available
International Capital Markets Pty Ltd
Australia · 123289109
Catalog-applicable to this website
ASIC · 335692
Matched to regulator records · matched on ASIC current AFS extract 202609 as INTERNATIONAL CAPITAL MARKETS PTY. LTD.; start date 02/07/2009
ASIC register
Pepperstone
1 entity
1 licence · 1 verified of 1 · CySEC
View entity detail
Pepperstone EU Limited
Cyprus · 398429
Catalog-applicable to this website
CySEC · 388/20
Matched to regulator records · listed on CySEC CIF register
CySEC register
Client Protection
Negative balance protection
IC Markets
1 of 2 confirmed
Legal entities: 2
IC Markets (SC) Ltd
Seychelles
Not yet checked
International Capital Markets Pty Ltd
Australia
Confirmed
Pepperstone
1 of 1 confirmed
Pepperstone EU Limited
Pepperstone EU Limited
Cyprus
Confirmed
Segregated client funds
IC Markets
Not recorded in this file
Legal entities: 2
IC Markets (SC) Ltd
Seychelles
Not yet checked
International Capital Markets Pty Ltd
Australia
Not yet checked
Pepperstone
1 of 1 confirmed
Pepperstone EU Limited
Pepperstone EU Limited
Cyprus
Confirmed
Investor compensation
IC Markets
Not recorded in this file
Legal entities: 2
IC Markets (SC) Ltd
Seychelles
Not yet checked
International Capital Markets Pty Ltd
Australia
Not offered
Pepperstone
1 of 1 confirmed
Pepperstone EU Limited
Pepperstone EU Limited
Cyprus
Confirmed
CySEC Investor Compensation Fund (ICF) · Lower of 90% of the covered claim or EUR 20,000
Open the complete comparison
| Compare brokers | IC Markets IC Markets research file | Pepperstone Pepperstone research file |
|---|---|---|
Evidence SnapshotCoverage counts currently in this comparison scope. | ||
| Legal entities | 4 recorded | 4 recorded |
| Entities comparedDifferent | 2 displayed 2 not in this comparison | 1 displayed 3 not in this comparison |
| Licence recordsDifferent | 2 recorded | 1 recorded |
| Verified licence records in this comparisonDifferent | 1 of 2 recorded licences | 1 of 1 recorded licences |
| Unverified licence recordsDifferent | 1 unverified | 0 unverified |
| Licence records with source links | 1 source available | 1 source available |
| Protection recordsDifferent | Recorded for 2 of 2 entities | Recorded for 1 of 1 entities |
| Regulatory events | Not recorded in this file | Not recorded in this file |
| Last checkedDifferent | Sep 19, 2026 | Sep 12, 2026 |
| Open research issuesDifferent |
|
|
| Research coverageThis describes FXVeritas research-file coverage. It is not a broker safety or quality rating. | High | High |
| Profile facts checked | Aug 20, 2026 | Aug 20, 2026 |
| Data coverage | Regulation monitored A legal entity is stored, but it is not catalog-applicable to this website. | Regulation monitored A legal entity is stored, but it is not catalog-applicable to this website. |
| Evidence limitations |
|
|
| Official websiteDifferentStored website URL. Not an open-account destination. | icmarkets.com | pepperstone.com |
Entities & RegulationLicences attach to legal entities, not marketing brands. | ||
| Legal entitiesDifferentEach licence stays attached to its legal entity. | 2 entities 2 licences · 1 verified of 2 · 1 unresolved · FSA · ASIC View entity detail
| 1 entity 1 licence · 1 verified of 1 · CySEC View entity detail
|
| Stored regulatory eventsAbsence of a stored event is not a finding. | Not in this file yet | Not in this file yet |
Client ProtectionClient-money facts are stored by legal entity. | ||
| Negative balance protectionDifferent | 1 of 2 confirmed Legal entities: 2
| 1 of 1 confirmed Pepperstone EU Limited
|
| Segregated client fundsDifferent | Not recorded in this file Legal entities: 2
| 1 of 1 confirmed Pepperstone EU Limited
|
| Investor compensationDifferent | Not recorded in this file Legal entities: 2
| 1 of 1 confirmed Pepperstone EU Limited
|
Trading & PlatformsAdvertised account figures and recorded platforms on file. | ||
| Trading facts in this fileNeither file currently records these trading fields. | Not in this file yet | Not in this file yet |
Evidence Snapshot
Coverage counts currently in this comparison scope.
Legal entities
Entities compared
DifferentLicence records
DifferentVerified licence records in this comparison
DifferentUnverified licence records
DifferentLicence records with source links
Protection records
DifferentRegulatory events
Last checked
DifferentOpen research issues
Different- A licence is recorded, but verification remains unresolved.
- Primary-source evidence is not yet available for a recorded licence.
- A licence identifier is not exposed by the regulator source.
- A stored legal entity is not catalog-applicable to this website.
Research coverage
This describes FXVeritas research-file coverage. It is not a broker safety or quality rating.
Profile facts checked
Data coverage
A legal entity is stored, but it is not catalog-applicable to this website.
A legal entity is stored, but it is not catalog-applicable to this website.
Evidence limitations
- At least one stored legal entity is outside catalog applicability for this website.
- Some comparison issues remain unresolved. See the unresolved comparison issues above.
- At least one stored legal entity is outside catalog applicability for this website.
- Some comparison issues remain unresolved. See the unresolved comparison issues above.
Official website
DifferentStored website URL. Not an open-account destination.
Entities & Regulation
Licences attach to legal entities, not marketing brands.
Legal entities
DifferentEach licence stays attached to its legal entity.
2 entities
2 licences · 1 verified of 2 · 1 unresolved · FSA · ASIC
View entity detail
IC Markets (SC) Ltd
Seychelles
Catalog-applicable to this website
FSA · —
Unverified · Not independently recorded
Primary-source evidence not yet available
International Capital Markets Pty Ltd
Australia · 123289109
Catalog-applicable to this website
ASIC · 335692
Matched to regulator records · matched on ASIC current AFS extract 202609 as INTERNATIONAL CAPITAL MARKETS PTY. LTD.; start date 02/07/2009
ASIC register
1 entity
1 licence · 1 verified of 1 · CySEC
View entity detail
Pepperstone EU Limited
Cyprus · 398429
Catalog-applicable to this website
CySEC · 388/20
Matched to regulator records · listed on CySEC CIF register
CySEC register
Stored regulatory events
Absence of a stored event is not a finding.
Client Protection
Client-money facts are stored by legal entity.
Negative balance protection
Different1 of 2 confirmed
Legal entities: 2
IC Markets (SC) Ltd
Seychelles
Not yet checked
International Capital Markets Pty Ltd
Australia
Confirmed
1 of 1 confirmed
Pepperstone EU Limited
Pepperstone EU Limited
Cyprus
Confirmed
Segregated client funds
DifferentNot recorded in this file
Legal entities: 2
IC Markets (SC) Ltd
Seychelles
Not yet checked
International Capital Markets Pty Ltd
Australia
Not yet checked
1 of 1 confirmed
Pepperstone EU Limited
Pepperstone EU Limited
Cyprus
Confirmed
Investor compensation
DifferentNot recorded in this file
Legal entities: 2
IC Markets (SC) Ltd
Seychelles
Not yet checked
International Capital Markets Pty Ltd
Australia
Not offered
1 of 1 confirmed
Pepperstone EU Limited
Pepperstone EU Limited
Cyprus
Confirmed
CySEC Investor Compensation Fund (ICF) · Lower of 90% of the covered claim or EUR 20,000
Trading & Platforms
Advertised account figures and recorded platforms on file.
Trading facts in this file
Neither file currently records these trading fields.
Your next step
Check the contracting entity and current terms on the official website before applying. A website link does not confirm account approval.
Stored sources
Featured evidence and sources
Primary-source URLs already stored on licence, protection, mapping or event rows in this comparison scope. This is not a document inventory, and counts are not invented.
Research still outstanding
Evidence gaps and unresolved issues
These cards list open comparison issues in the current research files. They are research still outstanding — not findings against a broker.
More open research issues does not mean a broker is less safe.
Unresolved comparison issuesIssue types found in the current research file. Each issue counts once, not once per licence. Unresolved is not the same as adverse. These are issue categories, not licence counts. Catalog-applicable licence counts are listed separately below.
Missing coverageRows marked Not in this file yet in the table above are missing coverage, which is a different gap from an unresolved comparison issue.
IC Markets
4 unresolved comparison issues
- A licence is recorded, but verification remains unresolved.
- Primary-source evidence is not yet available for a recorded licence.
- A licence identifier is not exposed by the regulator source.
- A stored legal entity is not catalog-applicable to this website.
Pepperstone
1 unresolved comparison issue
- A stored legal entity is not catalog-applicable to this website.
Next research steps
Continue this research
View each broker research file or visit the official website. These links are for further research and are not an endorsement.
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