Broker comparison · Checked 25 Oct 2026
Pepperstone vs IC Markets: licences in Kenya and South Africa
Both are licensed in Kenya; their South African status differs.
Pepperstone vs IC Markets at a glance
| Pepperstone | IC Markets | |
|---|---|---|
| 🇰🇪 Kenya (CMA) | 128Pepperstone Markets Kenya Limited | 199IC Markets (KE) Limited |
| 🇿🇦 South Africa (FSCA) | VerifyingA review site lists FSCA licence 46533 for Pepperstone but does not name the South African company. We are checking it on the FSCA register. Pepperstone Group Limited shows "Application withdrawn" on the FSCA list of OTC derivative providers, checked 25 Oct 2026. | FSP 53142IC Markets (Pty) Ltd |
| M-Pesa (Kenya) | Not confirmed | Not confirmed |
| Also regulated by | — | — |
| Full review | Pepperstone review → | IC Markets review → |
Licence data from the CMA register and the FSCA FAIS register. Always confirm on the regulator's own site before you deposit.
Which should you choose?
In Kenya, both Pepperstone and IC Markets hold CMA licences, so the choice comes down to costs, platform and deposit methods. Open your account with the local company shown below.
In South Africa, only IC Markets holds an FSCA licence (we are still checking Pepperstone). With Pepperstone you would not yet have confirmed FSCA protection.
Buttons appear only where the broker holds a local licence. Some links are affiliate links; see our disclosure. Our real-money tests of fees and withdrawal times will be added to this page.
Questions people ask
Is Pepperstone or IC Markets regulated in Kenya?
In Kenya, both Pepperstone and IC Markets hold CMA licences, so the choice comes down to costs, platform and deposit methods. Open your account with the local company shown below.
Is Pepperstone or IC Markets regulated in South Africa?
In South Africa, only IC Markets holds an FSCA licence (we are still checking Pepperstone). With Pepperstone you would not yet have confirmed FSCA protection.
Which is safer, Pepperstone or IC Markets?
Safety starts with the licence in your own country: a CMA licence in Kenya or an FSCA licence in South Africa gives you a local regulator to complain to. Neither licence protects you from trading losses; most retail CFD accounts lose money.