It’s a battle of ‘red vs blue’ in our latest broker comparison. Here is our detailed broker comparison between IG vs Pepperstone.
Our verdict is in and IG has proven it deserves it’s position as the foremost seasoned trading broker platform for advanced to intermediate traders offering a wide breadth of potential markets but Pepperstone wins when it comes to ease-of-use & automation for beginner traders.
Pepperstone vs IG Comparison
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| IG VS Pepperstone | 
First | 
Second | |
|---|---|---|---|
| Regulation | FCA, ASIC, BaFin, CFTC, CySEC, SCB | FCA, ASIC, CySEC, SCB | |
| Number of Instruments | 17,000+ (forex, indices, shares, ETFs, commodities) | 1,200+ (forex, indices, commodities, cryptocurrencies) | |
| MT4 | |||
| MT5 | |||
| cTrader | |||
| Proprietary Platform | |||
| TradingView Integration | |||
| Commission (Forex) | £10 min, $0.02 per share (US shares) | $6 per lot (Razor account) | |
| Spreads | From 0.6 pips | From 0.0 pips (Razor account) | |
| Free VPS Access | (limited to MT4) | (across MT4, MT5, cTrader) | |
| Islamic Accounts | |||
| Customer Service | 24/5, multilingual | 24/5, multilingual | |
| Education | Extensive (IG Academy, webinars, tutorials) | Comprehensive | |
| Copy Trading | (Zulutrade, Myfxbook Autotrade) | ||
| Deposit Requirements | £250 | None (£200 recommended) | |
| Join IG | Join Pepperstone |
Broker Comparison Criteria Breakdown
1. Trading Instruments
Winner: IG (for broader market access)
- IG: Offers over 17,000 instruments, including forex, indices, shares, ETFs, commodities, and cryptocurrencies. The sheer range of markets is unmatched, making IG a versatile choice for multi-asset traders.
- Pepperstone: Provides access to over 1,200 instruments, including forex, indices, commodities, cryptocurrencies, shares, and ETFs. While comprehensive, it doesn’t match IG’s breadth.
2. Account Types
Winner: Draw (similar account options)
- IG: Offers spread betting accounts (tax-free for UK traders), CFD accounts, and professional accounts with higher leverage. It also provides ISA and share dealing accounts for investors.
- Pepperstone: Features Standard (commission-free) and Razor (low spreads with commissions) accounts, catering to both casual and professional traders. It also offers Islamic accounts for Sharia-compliant trading.
3. Spreads and Commissions
Winner: Pepperstone (lower commission costs)
- IG: Spreads start at 0.6 pips on major forex pairs, with 0.1% commission for UK shares and 2 cents per share for US stocks. Inactivity fees apply after two years of no trading.
- Pepperstone: Razor account spreads start at 0.0 pips, with a $6 per side per lot commission, making it more competitive for forex traders. Standard account spreads begin at 1 pip with no commission.
4. Platforms
Winner: IG (for platform variety & proprietary platform performance)
- IG: Offers its proprietary ProRealTime platform, webtrader, TradingView integration, MetaTrader 4 (MT4), and its proprietary L2 Dealer platform which provides direct market access for professional traders.
- Pepperstone: Supports MT4, MT5, cTrader, and TradingView integration, making it an excellent choice for advanced traders, though it lacks tools like ProRealTime and DMA access.
5. Automated Trading and Copy Trading
Winner: Pepperstone (better copy trading integration)
- IG: Provides automated trading options through MT4 and ProRealTime but lacks integrated copy trading features.
- Pepperstone: Supports automated trading via MT4, MT5, and cTrader. Additionally, it integrates with Zulutrade, Myfxbook & Autotrade for copy trading, giving it an edge.
6. Execution Speed
Winner: Draw (but IG on the L2 Dealer platform)
- IG: Offers fast execution on its platforms, particularly for professional traders using L2 Dealer with direct market access.
- Pepperstone: Utilizes a no-dealing-desk (NDD) model with low-latency servers, making it ideal for scalping and high-frequency trading.
7. Educational Resources
Winner: IG (more comprehensive education)
- IG: Features the IG Academy, which includes structured courses, interactive quizzes, video tutorials, and webinars. Its market analysis tools are also industry-leading.
- Pepperstone: Offers trading guides, webinars, and tutorials. While detailed, its educational content isn’t as extensive as IG’s.
8. Customer Support
Winner: Draw (both provide strong support)
- IG: Provides 24/5 multilingual support via live chat, phone, and email.
- Pepperstone: Offers 24/5 customer support, with excellent response times and multilingual assistance.
9. Deposit and Withdrawal
Winner: Pepperstone (no minimum deposit)
- IG: Requires a minimum deposit of £250, with fee-free deposits and withdrawals for most methods. PayPal is available for faster transactions.
- Pepperstone: Has no official minimum deposit requirement, although $200 is recommended. It supports multiple payment methods, including PayPal and Skrill, with no fees.
10. Regulation
Winner: IG (but both are highly regulated)
- IG: Regulated by more agencies than Pepperstone like the FCA (UK), ASIC (Australia), BaFin (Germany), and CFTC (USA), among others, with strong client protections like FSCS coverage.
- Pepperstone: Overseen by FCA, ASIC, CySEC, and the Securities Commission of the Bahamas, ensuring global compliance and safety.
11. VPS Access and Automated Trading
Winner: Pepperstone (more VPS integration)
- IG: Offers VPS access for MT4 users but doesn’t extend this support to other platforms.
- Pepperstone: Provides VPS services across MT4, MT5, and cTrader, making it more versatile for automated traders.
Verdict: Which is Better – IG or Pepperstone?
£500 Recommended Deposit
Best for Variety
IG offers 17,000+ trading instruments and combines robust regulation with cutting-edge tools like ProRealTime, TradingView, and L2 Dealer.
69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
It’s a close battle between two industry leaders. Although it seems like a draw across our categories, IG takes the lead in market variety, platform options, and educational resources, making it the better choice for multi-asset traders and intermediate to advanced seeking structured learning. However, Pepperstone excels in low spreads, copy trading, and automation, appealing to beginner to intermediate traders, high-frequency traders and those focused on forex or automated strategies.
Best for Multi-Asset Traders: IG
Best for Forex and Automation: Pepperstone
If neither of these brokers take your fancy and you would like to check out other spread betting platforms & brokers, feel free to explore our site a bit more. Until then, happy trading!
James is a former FTSE100 AI Director and trader with 10+ years trading his own capital. He is the Managing Director of SpreadBet.AI and currently trades his own capital through both CFD trading & spread betting as well as working with one of the leading prop firms in the world.
