IG Markets vs Pepperstone
If you are reading this article, you’re likely having trouble deciding whether Pepperstone or IG Markets is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.
In this Pepperstone vs IG Markets review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- IG Markets vs Pepperstone - Verdict
 |  | |
Headquarters | United Kingdom | Australia |
Regulators | FCA | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 1974 | 2010 |
Execution Type(s) | Market Maker | No Dealing Desk, NDD |
Minimum Deposit | 300€ | $0 |
Negative Balance Protection | N/A | |
Trading Platform(s) | MetaTrader 4, Proprietary platform | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ |
Average Trading Cost EUR/USD | 0.9 pips | 1.1 pips |
Average Trading Cost GBP/USD | 1.4 pip | 1.4 pips |
Average Trading Cost WTI Crude Oil | $0.03 | $2.50 |
Average Trading Cost Gold | $0.30 | $0.15 |
Retail Loss Rate | Undisclosed | 74-89% |
Minimum Raw Spreads | Not applicable | 0.0 pips |
Minimum Standard Spreads | 0.8 pips | 1.0 pips |
Minimum Commission for Forex | Commission-free | 6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5) |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Get Started | Get Started |
Features and Platforms
| | |
MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | N/A | |
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | N/A | |
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Get Started | Get Started |
Pepperstone provides traders with the best upgrade package for the MT4/MT5 trading platforms and offers cTrader as a competitive alternative. It also has MAM/PAMM accounts and supports social trading via three market-leading providers. Maximum leverage of 1:500 and a volume-based rebate program complete the core features. IG Markets remains one of the best multi-asset brokers with an exceptional asset selection and choice of trading platforms. They include MT4, ProRealTime, and L2, on top of proprietary solutions. Traders also get a competitive pricing environment, quality research and education, and excellent trade execution.
Available Markets
| | |
Currency Pairs | ||
Cryptocurrencies | N/A | |
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | N/A | |
Bonds | N/A | |
ETFs | ||
Options | N/A | |
Futures | ||
Synthetics | ||
| Get Started | Get Started |
Forex traders get 61 currency pairs at Pepperstone versus 102 at IG Markets, including three weekend-currency-pairs, an emerging asset class missing at most brokers mimicking cryptocurrency trading. While neither broker grants extensive cryptocurrency coverage, Pepperstone has nine against seven at IG Markets. Commodity traders get access to 23 and 37 instruments at Pepperstone and IG Markets, respectively. The gap is most visible in the equity market, where Pepperstone lists 64 equity CFDs and 14 index CFDs. IG Markets counters with 17,000+ and more than 80. Traders get a range of instruments at IG Markets, not available at Pepperstone.
Typical Spreads and Fees
| | |
Average Trading Cost EUR/USD | 0.9 pips | 1.1 pips |
Average Trading Cost GBP/USD | 1.4 pip | 1.4 pips |
Average Trading Cost WTI Crude Oil | $0.03 | $2.50 |
Average Trading Cost Gold | $0.30 | $0.15 |
Average Trading Cost Bitcoin | $90 | 25 |
Minimum Raw Spreads | Not applicable | 0.0 pips |
Minimum Standard Spreads | 0.8 pips | 1.0 pips |
Minimum Commission for Forex | Commission-free | 6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5) |
Deposit Fee | ||
Withdrawal Fee | ||
Inactivity Fee | $12 per month after 24 months | $0 |
| Get Started | Get Started |
The commission-free trading Forex environment at Pepperstone commences from a minimum mark-up of 1.0 pips versus 0.6 pips at IG Markets. It results in a trading cost difference of $4.00 per 1.0 standard lot. Pepperstone offers a commission-based alternative with raw spreads of 0.0 pips for a commission of $7.00 per round lot, which remains above the commission-free cost at IG Markets at $6.00. Equity traders at IG Markets face a minimum fee of 0.10%. Both brokers feature a volume-based rebate programe. Other costs include swap rates on leveraged overnight positions and third-party payment processor charges.
Security and Trust
| | |
Country of the Regulator | Australia, Bermuda, Switzerland, Cyprus, Germany, Japan, New Zealand, Singapore, United States | United Arab Emirates, Australia, The Bahamas, Cyprus, Germany, Kenya, United Kingdom |
Name of the Regulator | FCA | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Regulatory License Number | 195355, 378/19, 10148759, confirmed, but no regulaary license number, F001780, 41393, 1489, unconfirmed, 220440, 18923, 0509630, 54814 | 414530, 91279, 128, 388/20, F004356, 684312, F217 |
| Get Started | Get Started |
Pepperstone has oversight from the Australian Securities and Investments Commission (ASIC), its primary regulator. IG Markets remains primarily regulated by the UK Financial Conduct Authority (FCA). Pepperstone operates subsidiaries authorized by the UK FCA, the Securities Commission of the Bahamas (SCB), and the Dubai Financial Services Authority (DSFA). IG Markets is a publicly listed company in the UK and a constituent of the FTSE 250 Index. It has offices in 16 countries, compliant with numerous regulators. Both brokers segregate client deposits and offer negative balance protection as mandated by regulatory requirements. Both brokers score excellently in trust and security.
IG Markets vs Pepperstone – Verdict
Australian-based Pepperstone provides MT4/MT5 traders with the best upgrade package industry-wide, consisting of 28 plug-ins. cTrader, the ECN trading platform, is also available together with MAM/PAMM accounts and three providers for social trading. Pepperstone grants maximum leverage of 1:500 for a minimum deposit of $100 while deploying trader-friendly costs. IG Markets remains one of the best overall multi-asset brokers in the industry. The competitive trading platforms and more than 17,000 assets make it a prime broker for retail traders, professional and institutional ones. IG Markets is also a liquidity provider for many brokers and writes CFDs for instruments if demand from clients exists. It has a higher minimum deposit at $250, but the depth and quality of its product and services environment warrant it. Both brokers provide excellent research and education. While Pepperstone is a competitive broker, it cannot compete with the offer at IG Markets.
You might also be interested in reviewing the below broker comparisons:
- IC Markets vs Nadex
- IC Markets vs CMC
- IC Markets vs XTB
- Pepperstone vs FXTM
- Pepperstone vs Eightcap
- Pepperstone vs Tickmill
FAQs
Does eToro or Pepperstone offer lower pricing?
The commission-free accounts at both are equally uncompetitive, but the commission-based alternative at Pepperstone, together with the rebate program, offers significantly lower pricing.
Which trading platform is better: eToro or Pepperstone?
Pepperstone delivers cutting-edge trading platforms thanks to 28 MT4/MT5 plugins and Autochartist. eToro only maintains its below-average proprietary trading platform designed for social trading only.
What about MetaTrader and copy trading?
eToro does not offer MetaTrader but delivers copy trading services, which remain the core of its operations. Pepperstone maintains the MT4/MT5 trading platforms and allows copy trading via Myfxbook AutoTrade, MetaTrader Signals, and DupliTrade.
What are the minimum deposits for these brokers?
eToro commands a minimum of $1,000 for most traders, after raising it from $200 versus $200 at Pepperstone.
Does Pepperstone or IG Markets offer lower pricing?
Forex traders get a notably superior cost structure in the IG Markets commission-free account versus anything Pepperstone offers. IG Markets lists a minimum spread of 0.6 pips or $6.00 per 1.0 standard lot, while the best Pepperstone provides costs $7.00.Both brokers offer MT4, but Pepperstone also has the MT5 trading platform. IG Markets does not have copy trading providers besides the integrated solution within MT4, while Pepperstone has three choices.Pepperstone has a lower minimum deposit of $100 against $250 at IG Markets.
How many Forex pairs and CFDs are available to trade?
Traders at Pepperstone have 61 currency pairs and 170+ CFDs. IG Markets counters with 102 and 17,000+. IG Markets remains the biggest CFD provider globally and writes new derivatives per internal client demand.