IC Markets vs Pepperstone — head-to-head

What this pair helps you decide

This pair compares only fields supported by FXCN evidence. Check the contracting entity and regional conditions before interpreting score differences.

Compare the entity that contracts with you, not the brand alone.
Match the Australian entity, AFSL and permitted activities.
Separate onshore protection from offshore-entity exposure.

Markets requiring a separate entity check: AU / UK / EU / international Data as of: 2026-08-30

No continuously verified live spreads, commissions, slippage, withdrawal speed, minimum deposit or platform availability are claimed; a blank does not mean the brokers are equal.

WINNER

Brokers A

IC Markets

Australia · 2007

85.0

Green · Reasonable

Offshore exposure
All onshore

Brokers B

Pepperstone

Australia · 2010

77.0

Yellow · Caution

Offshore exposure
All onshore

Five-dimension scores

Dimension	Weight	IC Markets	Pepperstone	Δ
Regulation	0.3	100.0	100.0	+0.0
Risk control	0.2	90.0	90.0	+0.0
Transparency	0.2	85.0	70.0	+15.0
Reputation	0.2	50.0	50.0	+0.0
Disclosure	0.1	100.0	50.0	+50.0

What you actually get at each of these two

You contract with one of the licensed entities below, not with the brand. Protection differs enormously between jurisdictions — this section matters an order of magnitude more than spreads.

IC Markets

Licenses compared	Retail leverage cap	Investor compensation	Negative balance protection
ASIC T1 Australia · ASIC Entity: International Capital Markets Pty Ltd	1:30	No statutory investor compensation scheme	Mandatory
CySEC T1 Cyprus · CySEC Entity: IC Markets (EU) Ltd	1:30	ICF, up to €20,000 per person	Mandatory

Pepperstone

Licenses compared	Retail leverage cap	Investor compensation	Negative balance protection
ASIC T1 Australia · ASIC Entity: Pepperstone Group Limited	1:30	No statutory investor compensation scheme	Mandatory
CySEC T1 Cyprus · CySEC Entity: Pepperstone EU Limited	1:30	ICF, up to €20,000 per person	Mandatory
FCA T1 United Kingdom · FCA Entity: Pepperstone Limited	1:30	FSCS, up to £85,000 per person	Mandatory

Leverage caps, compensation limits and negative balance protection are the jurisdiction’s general rules for retail clients, not a promise by any individual broker; professional clients are treated differently. The licensed entity that onboards you governs in practice.
Source: ASIC Checked 2026-08 Source: CySEC Checked 2026-08 Source: FCA Checked 2026-08

Verdict

Under our open-source scoring, IC Markets (85.0) ranks above Pepperstone (77.0), a gap of 8.0 points. But scores are only a decision aid — what actually drives your risk is which jurisdiction the entity that onboards you sits in. Check the protection table above.