IG vs Pepperstone (2026): Which Broker Is Better?
Pepperstone
4.6/5
Regulated by ASIC · FCA · BaFIN · Min. deposit $0
Our verdict
Pepperstone wins on raw trading costs, high-frequency trading conditions, copy trading, and the range of third-party platforms. IG wins on trust, extensive market coverage, research, and education, as a London-listed broker offering more than 17,000 markets.
This is one of the closest in our comparison series. Both firms hold FCA, ASIC, CySEC, and BaFin licenses, offer spread betting to UK clients, operate proprietary platforms alongside MT4 and TradingView, and serve similar client bases, with more than 800,000 accounts worldwide. Founded in London in 1974, IG pioneered retail spread betting and has since become a publicly traded multi-asset broker. Pepperstone, established in Melbourne in 2010, revolutionized affordable forex execution and has earned our Best ECN Broker award site-wide. The distinction is clear: Pepperstone is stronger at the trade execution, whereas IG stands out in all aspects surrounding it.
Pepperstone focuses on execution quality and competitive costs. Its Razor account has an all-in cost of about 0.80 pips for EUR/USD (average spread plus round-turn commission on a standard lot), compared with IG's 0.69 pips during the main session and approximately 0.98 pips over the entire day under its spread-only pricing. Mid-2026 data show Pepperstone's average raw spreads at 0.56 pips across major currencies, while IG's best pricing is 0.74 pips. Additionally, Pepperstone provides tools not available through IG, including MT5 and cTrader, alongside MT4, TradingView, and its proprietary platform. It also offers copy trading via a dedicated app in some regions and through third-party platforms, including cTrader Copy, Signal Start, and MT4 Signals. It provides a restriction-free environment with approximately 30-millisecond execution times, ideal for scalpers and algorithmic strategies, unlike IG, which, our assessment indicates, is not. Getting started is easier with Pepperstone, which requires no minimum deposit, compared with IG's $300 minimum for card funding. Pepperstone accepts a range of payment methods, including bank transfers, cards, PayPal, Apple Pay, and Google Pay. It also provides 24/7 support and does not charge an inactivity fee, whereas IG charges a monthly fee after two years.
IG's strength lies in its scale and depth. With eight top-tier regulators and a London Stock Exchange listing, it offers an accountability profile unmatched by private brokers. Its 50 years of operation are reflected in a product range spanning more than 17,000 markets, including CFDs, real shares, listed options, spread betting, and a spot crypto platform built on ownership of the Australian Exchange Independent Reserve. IG's research and educational resources surpass those of other brokers in this series, offering tools such as IG Client Sentiment data and the comprehensive IG Academy, whereas Pepperstone’s offerings are more limited. Its proprietary platform remains the industry standard for broker-developed software, with ProRealTime and L2 Dealer providing direct market access. Additionally, IG provides forex access for US residents via tastyfx, a service Pepperstone does not offer.
Scores compared
Category wins: IG 3 · Pepperstone 1 · Tied 1
| Feature | IG | Pepperstone |
|---|---|---|
Scores | ||
| Overall Rating | 4.7 | 4.6 |
| Safety & Regulation | ||
IG vs Pepperstone: full comparison
| Feature | IG | Pepperstone |
|---|---|---|
Company | ||
| Headquarters | Cannon Bridge House, 25 Dowgate Hill, London, EC4R 2YA, United Kingdom. | Level 16, Tower One, 727 Collins Street
Melbourne, VIC, Australia 3008 |
| Broker Type | Market Maker, DMA | STP, ECN, DMA |
| Regulation | ||
Pros and cons
IG
- Regulated by eight tier-one authorities
- Listed on the London Stock Exchange (FTSE 250)
- Over 17,000 instruments across all major asset classes
- Five advanced platforms, including a polished in-house one
- Competitive forex spreads from 0.6 pips
- Tighter pricing through Forex Direct DMA
- Strong research, including IG Client Sentiment
- Well-structured IG Academy education
- Tax-free spread betting in the UK
- Negative balance protection for retail clients
- No deposit or withdrawal fees
- No copy or social trading
- Spreads are competitive but not the lowest available
Which is better for…
Safety and trust
IG
IG holds eight tier-one regulations and is listed on the London Stock Exchange. In contrast, Pepperstone, being a private company, holds four top-tier licenses. Nonetheless, both firms guarantee client funds are segregated and provide retail negative-balance protection, making this a comparison between excellent and exceptional standards.
Range of markets
IG
IG offers more than 17,000 markets, including CFDs, real shares, listed options, and spot crypto, compared with Pepperstone's roughly 1,700 CFDs. Both offer spread betting, and Pepperstone's Australian clients gained access to a regulated spot crypto exchange in 2026. However, IG's breadth is in a different league.
Forex trading costs
Pepperstone
Pepperstone’s Razor account offers an all-in EUR/USD cost of about 0.80 pips, beating IG's average of 0.98 pips for the full day. Raw spread data from mid-2026 favors Pepperstone across major currency pairs. While IG remains competitive during peak hours and on its DMA route, Pepperstone maintains consistent pricing throughout the day, and volume rebates are available to all traders.
Platform choice
It depends
Pepperstone offers a complete suite of third-party platforms, including MT4, MT5, cTrader, and TradingView, as well as its own app. IG features one of the best broker-developed platforms we review, alongside ProRealTime and L2 Dealer, but it supports only MT4 among the MetaTrader platforms. Traders committed to MetaTrader and cTrader would prefer Pepperstone, while those who prioritize a polished platform would prefer IG.
Beginners
It depends
For beginners, both IG and Pepperstone are strong starting points for different reasons. Pepperstone offers no minimum deposit, instant onboarding, and 24/7 support, while IG stands out for its educational resources, research, and polished platform. Choose based on your destination, not your starting point.
Frequently asked questions
For most active forex traders, yes. Pepperstone's Razor account is more cost-effective, with an all-in cost of about 0.80 pips on EUR/USD, compared with IG's average of 0.98 pips under its spread-only pricing model. While IG provides competitive spreads during peak hours and offers professional rebates, it also charges an inactivity fee after two years, which Pepperstone does not.
Both IG and Pepperstone are very safe options for leveraged trading. IG has a structural advantage as a London-listed company regulated by eight tier-one authorities. Pepperstone also maintains strong regulatory oversight, holding licenses from the FCA, ASIC, CySEC, BaFin, and three other regulators. Both brokers keep client funds separate and provide negative-balance protection for retail clients.
Yes. Both offer tax-free spread betting to clients in the UK, and IG also offers it in Ireland. IG originated the product in 1974.
It depends on your ecosystem. Pepperstone is the only one of the two that offers MT5 and cTrader, along with MT4, TradingView, and its own app. IG's in-house platform ranks among the best broker-built software we rate and is supported by TradingView, ProRealTime, and L2 Dealer, but its MetaTrader support is limited to MT4.
Both IG and Pepperstone are well-suited for beginners. Pepperstone offers an easier entry with no minimum deposit and faster onboarding. IG provides more educational resources and research tools after registration. Beginners interested in active forex trading should choose Pepperstone, whereas those interested in exploring different markets should choose IG.
IG serves US clients for forex through its tastyfx brand. Pepperstone does not accept US residents.
Related comparisons
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