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IC Markets vs Pepperstone - Real Slippage Test Results

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I ran a 30-day test comparing execution quality on both brokers using the same EA:

Test Setup:

Same EA, same settings
$5k account on each
EURUSD, GBPUSD only
News trading EA (high slippage risk)

IC Markets:

Average slippage: 0.4 pips
Positive slippage: 23%
Requotes: 2 (out of 847 orders)
Execution speed: 18ms average

Pepperstone:

Average slippage: 0.6 pips
Positive slippage: 19%
Requotes: 5 (out of 839 orders)
Execution speed: 22ms average

Verdict: IC Markets slightly better, but both are excellent. Pepperstone has better customer service though. For news trading specifically, IC Markets edge is worth it.

Note: I'm on Sydney VPS for both, your results may vary based on location.

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3 Responses

AlgoKing

Great comparison! Did you test during NFP or other high-impact news? That's where you really see the difference in execution quality.

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Yes! I specifically ran it during NFP, FOMC, and ECB announcements. IC Markets had 1.2 pips average slippage during NFP vs 1.8 pips on Pepperstone. Both are still way better than most retail brokers though (my previous broker was 4+ pips slippage on NFP).

GridMaster88

I'm on Pepperstone and get positive slippage about 30% of the time. Wonder if it's account-type dependent? I'm on Razor account with commission.