IC Markets vs Pepperstone: Spread Comparison 2026

A direct IC Markets vs Pepperstone comparison for UK traders: typical spreads on EUR/USD, GBP/USD and XAU/USD, commission per lot, regulation status, minimum deposit and platforms.

Spread comparison: EUR/USD, GBP/USD, XAU/USD

Affiliate disclosure: we earn a commission if you open an account through links on this page. It never changes the spreads we publish or the order of this table.

Last updated: 9 September 2026

Methodology: spreads are typical values recorded on each broker's raw/standard retail account during London–New York overlap hours, taken from the brokers' own published pricing pages and live platform data, then averaged. Commission is stated separately where it applies. Spreads are variable and widen around news and outside main sessions.

IC Markets vs Pepperstone typical spreads and trading costs
Market	IC Markets	Pepperstone
EUR/USD spread (typical)	0.0 pips (Raw)	0.1 pips (Razor)
GBP/USD spread (typical)	0.1 pips	0.2 pips
XAU/USD (gold) spread	0.10 pips	0.12 pips
Commission	$3.50 per side per lot (Raw)	$3.50 per side per lot (Razor)

Regulation status

Regulators	ASIC, CySEC, FSA (Seychelles)	FCA, ASIC, CySEC, DFSA, BaFin
UK client protection	No FCA-regulated UK entity, so UK clients are onboarded offshore without FSCS cover.	FCA-regulated UK entity with FSCS cover and negative balance protection for retail clients.
Max leverage	1:30 (CySEC retail) / up to 1:500 offshore	1:30 (FCA retail)

Professional-client and offshore accounts give up FCA protections including negative balance protection and FSCS coverage.

Minimum deposit, platforms and withdrawals

Minimum deposit	$200	No minimum (£/$200 suggested)
Platforms	MT4, MT5, cTrader, TradingView	MT4, MT5, cTrader, TradingView
Withdrawal speed	1-2 business days	1-3 business days
Founded	2007	2010

Verdict: IC Markets or Pepperstone?

On raw pricing, IC Markets holds the tighter EUR/USD spread, and gold traders should weigh the XAU/USD figures above alongside commission per lot. Our overall pick for UK traders remains IC Markets, for raw spreads from 0.0 pips, fast withdrawals and MT4/MT5/cTrader support.

Go with the tighter spread: IC Markets

EUR/USD from 0.0 pips (Raw), $200 minimum deposit, fast withdrawals.

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✓ FCA-regulated entity available
Retail protections apply on the UK entity; offshore accounts do not carry FSCS cover.
✓ Data last verified
9 September 2026 — spreads checked against broker pricing pages.
✓ 10 brokers compared
Ranked on spread, regulation and withdrawal speed. We may earn a commission.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Spreads are typical live-market averages and vary with volatility and account type. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Vantage links are affiliate links.