Pepperstone vs IG for New Zealand Traders: Which Broker Wins in 2026?
Which broker is better for New Zealand traders in 2026? Expert analysis across 12 categories.
New Zealand traders looking for a reliable forex broker in 2026 often compare Pepperstone and IG, two globally recognised brokers with strong local presence. Pepperstone, with a 4.9/5 rating, is known for razor-thin spreads, fast execution, and support for local payment methods like Bank Transfer, Skrill, Neteller, and USDT. IG, rated 4.2/5, offers a comprehensive platform with advanced charting tools and extensive educational resources. Both brokers are regulated by the local financial regulator in New Zealand, ensuring your funds are safe. Whether you prefer the low-cost trading of Pepperstone or the all-in-one package of IG, this comparison helps you decide based on your trading style and needs.
| Instrument | Pepperstone | IG | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | IG |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | IG |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | IG |
| Standard acc spread | from 1.0 pips | from 0.8 pips | IG |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $0 | $0 | Pepperstone |
| Inactivity fee | ✓ | ✓ | Tie |
For New Zealand traders, trading costs are a key factor. Pepperstone's Razor account offers spreads from 0.0 pips on major pairs like NZD/USD and EUR/USD, with a commission of $7 USD per lot round turn. IG's standard spreads start around 0.6 pips on EUR/USD with no commission, but for high-volume traders, Pepperstone's model is cheaper. On a $10,000 USD monthly volume, Pepperstone saves you approximately $15-$20 USD in spread costs compared to IG. Also, Pepperstone offers lower margin rates for NZD pairs, benefiting local traders.
| Account Type | Pepperstone | IG |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✗ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✗ | ✗ |
| Zero spread account | ✓ | ✗ |
| Copy trading | ✗ | ✗ |
| VPS trading | ✓ | ✗ |
| Min deposit | $0 | $0 |
| Neg. balance protection | ✓ | ✓ |
| Entity / Asset | Pepperstone | IG |
|---|---|---|
| New Zealand (offshore) | Up to 1:500 | Up to 1:200 |
| Forex major pairs | 1:500 | 1:200 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
| Margin call level | 80% | 80% |
| Stop out level | 50% | 50% |
| Asset Class | Pepperstone | IG | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | Pepperstone |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | Pepperstone |
| Crypto CFDs | 30+ | 20+ | Pepperstone |
| Stocks / Share CFDs | ✗ | 1,700+ | IG |
| ETFs | ✗ | ✓ | Tie |
| Options | ✗ | ✓ | Tie |
| Futures | ✗ | ✓ | Tie |
| Platform | Pepperstone | IG |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✗ |
| MetaTrader 5 (MT5) | ✓ | ✗ |
| cTrader | ✓ | ✗ |
| TradingView | ✓ Exclusive | ✓ |
| Expert Advisors (EAs) | ✓ | ✗ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
| Fixed spreads | ✗ | ✗ |
| Variable spreads | ✓ | ✓ |
Both brokers offer industry-leading platforms. Pepperstone provides MetaTrader 4, MetaTrader 5, and cTrader, which are popular among New Zealand traders for their customisable charts and automated trading capabilities. IG offers its proprietary web platform, plus MetaTrader 4 and ProRealTime. For New Zealand traders who value speed and advanced order types, cTrader on Pepperstone is ideal. IG's platform excels in research and news integration, making it better for traders who rely on fundamental analysis.
| Factor | Pepperstone | IG | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | IG |
| Avg execution speed | ~30ms | ~40ms | Pepperstone |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Dealing desk | ✗ | ✗ | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| News trading | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✗ | Tie |
Execution quality matters for active traders. Pepperstone boasts an average execution speed of under 40 milliseconds using its Equinix NY4 data centre, with no requotes on most orders. IG offers similar speeds but may experience slippage during news events. For scalpers and high-frequency traders in New Zealand, Pepperstone's execution is superior, while IG is still reliable for standard trading.
| Safety Factor | Pepperstone | IG |
|---|---|---|
| Primary regulator | FCA | FCA |
| Reg number | #684312 | #195355 |
| Verify registration | Verify ↗ | Verify ↗ |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Both Pepperstone and IG are regulated by the local financial regulator in New Zealand, which oversees broker compliance with strict capital adequacy and client fund segregation rules. Pepperstone also holds licenses from ASIC and FCA, while IG is regulated by the FCA, ASIC, and FMA. For New Zealand traders, this multi-jurisdictional oversight provides an extra layer of security. Client funds are held in segregated trust accounts, and both brokers participate in dispute resolution schemes, giving you peace of mind.
| Payment Method | Pepperstone | IG |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✗ |
| Neteller | ✓ | ✗ |
| USDT / Crypto | ✓ | ✗ |
| Deposit fee | None | None |
| Withdrawal time | Same business day if submitted before 07:00 AEST; otherwise next business day; bank wire several days | Card instant-24hrs; bank transfer 1-3 days |
| Min withdrawal | $50 | $50 |
New Zealand traders can fund their accounts via Bank Transfer, Skrill, Neteller, and USDT at both Pepperstone and IG. Bank transfers are free but take 1-3 business days, while e-wallets like Skrill and Neteller are instant with no fees from the broker. USDT deposits are also supported, allowing crypto users to fund quickly. Pepperstone has a minimum deposit of $200 USD equivalent, while IG has no minimum for bank transfers. Withdrawals are processed within 1 business day for e-wallets and 2-5 days for bank transfers. Both brokers do not charge withdrawal fees, though your bank may impose charges.
| Islamic Account Feature | Pepperstone | IG |
|---|---|---|
| Swap-free available | ✓ | ✗ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| Gold swap-free | ✓ | ✓ |
| Crypto swap-free | ✓ | ✓ |
| How to apply | Contact support | Contact support |
For Muslim traders in New Zealand, both Pepperstone and IG offer Islamic (swap-free) accounts that comply with Sharia law. These accounts do not charge or pay overnight swap fees on positions held beyond one day. Pepperstone provides Islamic accounts on all account types, including Razor and Standard, while IG offers them on most instruments except certain CFDs. To open an Islamic account, simply request it during registration. Both brokers ensure transparency and no hidden charges, making them suitable for New Zealand Muslim traders.
| Support Feature | Pepperstone | IG | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| 24/5 support | ✓ | ✓ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | Pepperstone |
Customer support is crucial for New Zealand traders. Pepperstone offers 24/5 live chat, phone support, and email, with a dedicated New Zealand phone line. IG provides 24/7 support via phone, live chat, and email, plus a comprehensive FAQ section. Both respond within minutes, but Pepperstone's local support is slightly faster for NZ-based queries. IG's support is more extensive with educational webinars, but Pepperstone edges out for quick issue resolution.
| Mobile Feature | Pepperstone | IG | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5★ | 4.3★ | Pepperstone |
| Google Play rating | 4.3★ | 4.2★ | Pepperstone |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| Mobile deposit/withdrawal | ✓ | ✓ | Tie |
| TradingView mobile | ✓ | ✓ | Tie |
| Dark mode | ✓ | ✓ | Tie |
| Resource | Pepperstone | IG | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | Pepperstone |
| Webinars (live) | Weekly | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | Pepperstone |
| Beginner resources | Excellent | Basic | Pepperstone |
Choose Pepperstone if you...
- Want the lowest spreads and commissions for high-volume forex trading
- Prefer MetaTrader 4, MetaTrader 5, or cTrader platforms
- Need fast execution for scalping or automated strategies
- Value local support and instant deposits via Skrill, Neteller, or USDT
Choose IG if you...
- Want an all-in-one platform with extensive research and educational tools
- Trade a wide range of markets including shares, indices, and commodities
- Prefer a proprietary platform with advanced charting and news integration
- Need no minimum deposit for bank transfers and 24/7 customer support
For New Zealand traders in 2026, Pepperstone is the better choice overall, scoring 4.9/5 compared to IG's 4.2/5. Its lower spreads, faster execution, and support for local payment methods like Bank Transfer, Skrill, Neteller, and USDT make it ideal for cost-conscious and active traders. IG remains a solid option for beginners or those who value comprehensive research and a wider product range. Both are regulated by the local financial regulator, ensuring safety. If you prioritise cost and speed, go with Pepperstone; if you want an educational hub, choose IG.