IG vs Pepperstone (2026): Which Broker Is Better?

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.

On cost, the honest assessment is that IG and Pepperstone are nearly level in independent scoring, and the winner depends on how and when you trade. IG's commission-free pricing is genuinely sharp during peak liquidity, and its DMA route with professional rebates can approach Razor territory for qualifying volume. Throughout the day, Pepperstone's raw model holds its price better. Its rebates of up to $3 per lot are available to any high-volume trader, not just professionals, and nothing at IG matches the Razor account's transparency for cost-sensitive forex trading. Position holders should also note that overnight financing is more heavily weighted at IG.

In our assessment, both reviews reach the same conclusion from opposite directions: each broker's weaknesses are the other's strengths. Active forex traders, scalpers, algorithmic and copy traders, and anyone who wants MT5 or cTrader are better served by Pepperstone. Conversely, multi-asset traders, investors, spread bettors (UK and Irish), research-focused traders, and US residents are better served by IG. Beginners are well served by either, and the right choice depends on your trajectory. For active forex trading, start with Pepperstone; for broader markets and investing, start with IG.