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Head to head

IFC Markets vs Pepperstone

IFC Markets is licensed by Labuan FSA in Labuan, Malaysia, and also has an offshore registration. Pepperstone is licensed by ASIC in Australia; FCA in the United Kingdom; CySEC in the European Union; BaFin in Germany; DFSA in Dubai (DIFC), UAE and SCB in The Bahamas. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $15 at IFC Markets (the Classic Standard (fixed spread) account needs $1,000) and $0 at Pepperstone. Both offer negative balance protection. Only Pepperstone offers segregated client money.

Facts last checked: IFC Markets on 20 October 2026, Pepperstone on 20 October 2026.

IFC Markets profilePepperstone profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
IFC MarketsOffshore registration onlyRead the profile
PepperstoneStrictly regulatedRead the profile
Comparing
IFC MarketsClassic Standard (fixed spread) account · British Virgin Islands
PepperstoneAustralia

Overview

Founded
2006
Not yet checked
Headquarters
Not yet checked
Melbourne, Australia
Official websites
  • ifcmarkets.com
  • ifcmarkets.co.in
  • ifcmarkets.ae
  • ifcmarkets.hk
  • pepperstone.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
IFCMARKETS. CORP.
Pepperstone Group Limited
Regulator
BVI FSC
British Virgin Islands
ASIC
Australia
Regulation level
Offshore registration only
Strictly regulated
Licence number
SIBA/L/14/1073
Check the register
AFSL 414530
Check the register
Clients this company serves
International clients (not residents of the US, Russia or the BVI)
Australian residents
All licences held
  • BVI FSC (British Virgin Islands)
  • Labuan FSA (Labuan, Malaysia)
  • ASIC (Australia)
  • FCA (United Kingdom)
  • CySEC (European Union)
  • BaFin (Germany)
  • DFSA (Dubai (DIFC), UAE)
  • SCB (The Bahamas)
Segregated client money
No
Yes
Negative balance protection
Yes
Yes
Compensation scheme
None
FSCS up to £85,000 (UK); ICF up to €20,000 (Pepperstone EU); none for the Bahamas company

Costs

Your monthly cost
$180$18 per lot × 10 lots
No accounts listed
Cost per lot (EUR/USD)
$18
No accounts listed
Spread from
1.8 pips
No accounts listed
Typical EUR/USD spread
1.8 pips
No accounts listed
Commission per lot (round turn)
None
No accounts listed
Typical GBP/USD spread
Not yet checked
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Yes
Not yet checked

Leverage and margin

Maximum retail leverage
1:400 on Micro and Nano accounts; 1:200 on Standard accounts
1:30 on major pairs (UK, EU, Australia)
Retail leverage by asset class
  • All instruments, Standard accounts: Up to 1:200
  • All instruments, Micro and Nano accounts: Up to 1:400
  • Major currency pairs: 1:30
  • Other currency pairs: 1:20
  • Other commodities and non-major indices: 1:10
  • Share CFDs: 1:5
Margin call level
Not yet checked
Not yet checked
Stop-out level
10%
50% (MT4 and MT5)

Account

Minimum deposit (this account)
$1,000
No accounts listed
Base currencies
USD, EUR, JPY
No accounts listed
Execution
Instant execution, fixed spread, no commission (MT4 and NetTradeX)
No accounts listed

Platforms and features

Platforms
  • NetTradeX
  • MetaTrader 4
  • MetaTrader 5
  • Web terminal
  • Mobile apps
  • MetaTrader 4
  • MetaTrader 5
  • cTrader
  • TradingView
  • Pepperstone platform
  • Mobile app
Markets
650+ CFDs on forex, metals, indices, stocks, commodities, ETFs and cryptocurrencies, plus self-built synthetic instruments
90+ forex pairs, indices, commodities, share CFDs, ETFs, currency indices and crypto CFDs (not for UK retail)
Demo account
Yes
Yes
Copy trading
Not yet checked
Yes
Expert advisors (automated trading)
Yes
Yes
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
  • Bank transfer
  • Bank card
  • Cryptocurrency
  • Open Banking
  • Local bank (Africa)
  • Mobile money
  • WebMoney
  • Debit card
  • Credit card
  • Apple Pay
  • Google Pay
  • Bank transfer
Withdrawal fee
Bank wire at your bank's fee; card, crypto and e-wallet withdrawals carry fees that vary by method (for example 3% for Open Banking)
Free by card, Apple Pay, Google Pay and bank transfer (UK)
Inactivity fee
Up to $10 a month after 12 months without trading, only while the balance is positive
Not yet checked

Support

Customer support
24/7 online support
24 hours Monday to Friday and 18 hours at weekends

Our notes

Strengths
  • Fixed 1.8-pip EUR/USD spread on Classic accounts, so costs are known in advance
  • Micro and Nano accounts from $15
  • Choice of NetTradeX, MT4 and MT5, with hedging or netting on MT5 and NetTradeX
  • Licensed by four strict regulators (ASIC, FCA, CySEC, BaFin), with retail money held in segregated accounts
  • Negative balance protection for retail clients
  • Razor account commission is published per currency (for example £2.25 per lot per side on GBP accounts)
  • No minimum deposit for bank transfers in the UK, and free withdrawals
Watch out for
  • Licensed only in the BVI (offshore) and Labuan; no FCA, ASIC, CySEC or similar licence
  • Stop-out level of only 10%, so positions are closed late and losses can run far
  • Monthly inactivity fee of up to $10 after 12 months without trading
  • Standard accounts need a $1,000 first deposit
  • Says Pepperstone Markets Kenya Limited holds CMA licence 128; we could not confirm it on the Capital Markets Authority register on 2026-10-20 because the CMA website was unavailable.
  • Says Pepperstone Financial Services LLC holds UAE CMA licence 20200000358 for introduction and financial consultation; we could not confirm it on the regulator's register on 2026-10-20.
  • Clients outside the UK, EU and Australia may be placed with the Bahamas company, which has no compensation scheme
  • Pepperstone publishes minimum spreads, not typical spreads; Pro clients lose negative balance protection

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • IFC Markets: Your capital is at risk. Leveraged products may not be suitable for everyone.
  • Pepperstone: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

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Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

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