Pepperstone vs IG for CFD trading in Australia
Verdict
- Pepperstone is our pick for CFD trading in Australia for cost-focused traders: a $10 minimum, Razor at 0.1 pips average on EUR/USD plus commission, and MT4, MT5, cTrader and TradingView.
- IG (IG Australia Pty Ltd, AFSL 515106) is the stronger choice if you want guaranteed stops or ProRealTime and L2 Dealer.
- IG publishes EUR/USD 'from 0.6 points' with no commission; that is a best-case figure, while Pepperstone also publishes averages.
- IG's international-offering table lists a $450 minimum deposit for Australia, though IG's own pages disagree on minimums.
Both are large, ASIC-licensed CFD providers, so the choice is about how you trade rather than safety alone. Pepperstone is built around raw pricing and third-party platforms; IG around its own platform, a broad toolset and guaranteed stops.
Why we lean to Pepperstone
Pepperstone Group Limited (AFSL 414530) gives Australian traders two simple price models: Standard, with a 1.1-pip average on EUR/USD and no commission, or Razor, with a 0.1-pip average plus USD 3.50 per side on MT5 (USD 3.00 on cTrader). You can start with $10 and fund by PayID, BPAY, cards or PayPal at no charge. For traders who run EAs or cBots, or who chart in TradingView and want to trade from it, the Razor account covers all of that in one place.
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Head to head
| Pepperstone | IG | |
|---|---|---|
| Australian entity | Pepperstone Group Limited, AFSL 414530 | IG Australia Pty Ltd, AFSL 515106 |
| EUR/USD | Razor 0.1 avg + commission; Standard 1.1 avg | from 0.6 points, no commission (UK page) |
| Guaranteed stop-loss | Not offered | Yes; free to place, premium if triggered (UK page) |
| Platforms | Own web/app, MT4, MT5, cTrader, TradingView | Own web/app, MT4, MT5, ProRealTime, L2 Dealer, TradingView, APIs |
| Minimum deposit | $10 | $450 in IG's international table (conflicting figures on IG's site) |
| Retail leverage, major FX | 1:30 | ASIC retail limits apply |
Where IG is the better fit
IG's guaranteed stop-loss is the clearest feature Pepperstone can't match. With a guaranteed stop you know your maximum loss even through a gap, and on IG's terms you pay a premium only if the stop is triggered. IG also lists ProRealTime and L2 Dealer among its platforms, neither of which Pepperstone offers. Some of IG's terms in our data are from its UK and UAE sites, so confirm them on ig.com/au before applying.
Practical differences to check
- Account currency: Pepperstone offers AUD, USD, EUR, GBP, SGD and HKD bases.
- Share CFDs: Pepperstone charges 0.07% per side on ASX shares and USD 0.02 per share on US shares.
- Protection: Pepperstone restores retail accounts that go negative to zero; no compensation scheme is named for its Australian clients.
- Withdrawals: Pepperstone lists all Australian withdrawal methods as free, with e-wallets within 1 business day.
Sources
Is IG or Pepperstone better for beginners in Australia?
IG's guaranteed stops limit worst-case losses, which some beginners value. Pepperstone's $10 minimum and simple Standard account make it cheaper to start.
Can I use TradingView with Pepperstone in Australia?
Yes, on the Razor account. The Standard account offers the Pepperstone platform, MT5 and cTrader.
Which has the lower EUR/USD cost?
We can't settle it from published data: IG gives a 0.6-point minimum, Pepperstone a Razor all-in average of about 0.7–0.8 pips. Compare live spreads at the times you trade.
Leveraged CFDs are complex and high risk: losses can build fast. This comparison uses broker-published terms and is not investment advice. Check current terms and the Target Market Determination before you trade.