IC Markets (founded 2007, ASIC and CySEC) and Pepperstone (founded 2010, ASIC, FCA and CySEC) are two of the most prominent brokers for active and algorithmic traders in SE Asia. Both run the full MetaTrader + cTrader stack, often paired with raw-spread ECN accounts. Pepperstone additionally offers TradingView integration. Neither is locally licensed in SE Asia; which entity serves your country and the specific account terms matter more than the platform features.
Broker comparison
IC Markets vs Pepperstone: an honest comparison for active SE-Asian traders
By Pipex , reviewed by Eitan Gorodetsky · Last updated June 23, 2026
IC Markets vs Pepperstone: the verified facts
| Broker | Regulation | Platforms | Actions |
|---|---|---|---|
| IC Markets Est. 2007 | ASICCySEC | MT4 · MT5 · cTrader | |
| Pepperstone Est. 2010 | ASICFCACySEC | MT4 · MT5 · cTrader |
Only fields we can verify (regulation, platforms, founding year) are shown.
How do they compare on the verifiable facts?
IC Markets and Pepperstone are close peers among the 'active-trader' segment. Both hold ASIC licences — Australia's key retail-forex regulator — and CySEC (EU); Pepperstone additionally holds the FCA (UK), a third major licence. Both support MT4, MT5 and cTrader: the full platform stack for active traders and those running automated strategies. Pepperstone stands out by also offering TradingView integration, which is valued by chart-focused traders who want to analyse and trade in the same environment.
On the swap-free question: IC Markets is not listed in the Bayan FX brokers.ts with a swapFree flag (unlike the other four brokers on the shortlist), while Pepperstone also does not carry a swapFree flag. For traders in Indonesia or Malaysia who require a genuine bebas swap account, Exness, XM, Octa and FBS are the brokers on the shortlist verified to offer swap-free conditions. Confirm directly with IC Markets or Pepperstone whether a swap-free account is available for the entity that serves your country before opening.
Both are offshore-only for all SE-Asian markets: they appear on Bappebti's warning list (Indonesia), the SC investor alert list (Malaysia), and equivalent lists in the Philippines and Thailand as 'not locally licensed'. That is accurate and does not mean they are fraudulent. Verify the specific entity in your client agreement on ASIC's or CySEC's register before depositing.
Platform comparison: who the cTrader + TradingView stack suits
The MT4/MT5 + cTrader combination both brokers offer is the gold standard for active traders: MetaTrader for the vast expert-advisor ecosystem and familiarity; cTrader for ECN-style raw pricing, full depth-of-market (Level II), and C# cBot automation. Pepperstone's addition of TradingView means chart analysts who want to place trades from TradingView's interface can do so — IC Markets does not offer TradingView integration.
For SE-Asian traders who are primarily using MT4 or MT5 for automated strategies or indicator-based trading, the distinction between IC Markets and Pepperstone on platforms is minimal — both cover the full stack. The TradingView addition matters primarily if you are already a regular TradingView user who wants to trade from within its charts. For most beginner-to-intermediate traders in the region, the platform choice is far less important than choosing a regulated entity and understanding the account terms.
Frequently asked questions
Which broker is better for active forex trading in SE Asia, IC Markets or Pepperstone?
Neither is universally better — they are close on the verifiable facts (regulation, platforms, track record). Pepperstone offers TradingView integration that IC Markets does not; both support the full MT4/MT5/cTrader stack. The more important question is which entity serves your country and what protections apply. Verify the entity named in your client agreement on its regulator's register (ASIC or CySEC) before depositing.
Do IC Markets or Pepperstone offer swap-free (bebas swap) accounts?
Bayan FX's broker data does not carry a verified swap-free flag for IC Markets or Pepperstone — unlike Exness, XM, Octa and FBS which are listed as offering swap-free accounts. If a genuine bebas swap account is essential for your trading, those four brokers are the starting point. Confirm directly with IC Markets or Pepperstone whether a swap-free account exists for the entity that serves your country, and if so, verify the fee structure is genuinely riba-free before opening.
Related