Pepperstone and IC Markets provide two of the best online brokers for non-US residents and are two of the best overseas forex broker.
Pepperstone – Best European Forex Broker
Founded in 2010, Pepperstone is the best forex broker in Europe. The broker it’s known for its great reputation and excellent customer service. Pepperstone is a multi-award broker in different services and products.
Pepperstone Limited – is authorized by the Financial Conduct Authority (FCA) with registration number 684312.
Pepperstone Group Limited is authorized by the Australian Securities and Investments Commission (ASIC) under registration number ACN 147 055 703.
Pepperstone Markets Limited is authorized by the Securities Commission of The Bahamas (SCB) under license number SIA-F217.
More than 180 trading instruments are available to trade including:
Pepperstone Account Types
Pepperstone offers 2 account types to trade:
Standard account is suited mostly for new forex traders. This account type provides spreads from 1 pip. Standard offers an enjoyable experience with no commission.
Razor account has tightened spreads that start from 0 pips. Trading with this account type is ideal for experienced and scalp traders. For each round turn position, a commission fee of $7 will apply.
Verification is required before you can trade. Pepperstone requires 2 types of documents to verify your forex trading account.
To verify your identity, you can provide the following documents:
- Driving license
- Government-issued photo ID
To verify your residential address, you can use the following documents:
- Utility bill (phone, electricity, gas)
- Bank or credit card statement
- Government-issued tax document
- Birth certificate
- Citizen certificate
Account applications can take up to 24 hours to be reviewed. During the weekends, the process will take longer.
We mentioned earlier that the Razor account provides very low spreads. Forex currency pairs such as EUR/USD, USD/JPY, GBP/USD, and other major pairs have minimum spreads from 0 pips. The average spreads on these pairs usually start from 0.16 pips.
Spreads on the Standard account start from 1 pip on forex pairs like EUR/USD, USD/JPY, etc. The average spreads for the Standard account start from 1.16 pips.
Pepperstone offers 3 forex trading platforms to trade, Pepperstone Metatrader 4, MetaTrader 5, and cTrader. The platforms are easy to use and analyze financial markets with different forex trading tools. Pepperstone mt4 supports up to 9-time frames, Pepperstone MetaTrader 5 supports up to 21-time frames. MetaTrader platforms support indicators that can be installed easily on the platforms.
cTrader online trading platform is an easy-to-use platform with advanced design and customization. The platform is suited for beginners and experienced forex traders. You can easily control your trades, or use different tools to use in your chart analysis. cTrader offers advanced risk management systems and other advanced features.
To set up a Pepperstone demo account click the “open a free demo account” below.
Deposit & Withdrawal
Pepperstone broker offers zero-fee deposits including deposits and withdrawals. You can use the following payment methods to deposit and withdraw funds:
- Bank transfer
- Union Pay
To get in touch with the customer support team, you can use the live chat, contact form, or phone. The support team through live chat is available 24/5.
Besides the support team, the FAQ page it’s available to answer any questions you may have.
IC Markets Review – Lowest spreads
In our IC markets review, IC Markets offers the lowest spreads across other European forex brokers. The average spreads on major forex pairs start from 0.1 pip. The low latency offers an average 40ms execution speed for your orders. One of the best interactive brokers for non-US residents.
IC Markets (EU) Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission with License Number 362/18, registration number 356877.
IC Markets (SC), is regulated by the Financial Services Authority of Seychelles with a Securities Dealer Licence Number: SD018.
IC markets provide a lot of options when it comes to financial products. The following products are available to trade with IC Markets broker:
IC Markets Account Types
You can choose from 3 account types to trade, cTrader, Raw Spread, and the Standard account. All three account types require a minimum deposit of $200. Leverage is allowed up to 500:1.
The commission fee does not apply to the Standard account. Trading with the cTrader account will cost $3 per lot round turn. When you trade with the Raw Spread account, the commission fee will increase to $3.5 per lot round turn.
IC Markets Account Verification
Verification is required for all accounts, so you’ll need to verify your account.
You can use the following documents to verify your identity:
- Valid Passport
- Valid Government ID
- Driving Licence
- Valid National Identity Card
To verify your residence address, you can submit the following documents:
- Utility Bill, Phone Bill, Internet Bill
- Bank Statement
- Birth Certificate
IC Markets Spreads
IC Markets it’s known as one of the brokers with the lowest spreads. Major forex pairs as EUR/USD, GBP/USD, USD/JPY, AUD/USD, and other major pairs have average spreads from 0.0 pips. IC Markets it’s known as one of the brokers with the lowest spreads.
Major forex pairs as EUR/USD, GBP/USD, USD/JPY, AUD/USD, and other major pairs have average spreads from 0.0 pips. Raw Spread accounts it’s the best account for traders who want to trade with the lowest spreads. In the Standard account, spreads are more range as they have average spreads of 1.1 pips on major forex pairs.
MetaTrader 4, 5, and cTrader are the only supported online trading platforms. cTrader is an advanced trading platform compared with the MetaTrader platform. All three platforms could be a good fit for beginners and experienced traders as they’re easy to use.
IC markets mt4, MetaTrader 5, and cTrader are available to download on Windows, Mac, Apple Store, and Android. Besides the trading platforms that we mentioned, IC Market offers trading tools available for all platforms. Tools as Virtual Private Server, cTrader Algo, Extensions, Indicators, and more tools.
Deposit & Withdrawal
IC Market funding: IC Market broker provides a wide range of deposit and withdrawal methods. The deposit process is instant with an electronic wallet, debit cards, and credit cards. Other methods such as Wire Transfer can take several days to be processed in your account.
The withdrawal process is more delayed as it can take hours or days. IC Market does not charge any deposit nor do they have withdrawal ic markets fees.
From the deposit and withdrawal methods, you can use:
- Wire Transfer
- Broker to Broker
- FasaPay, etc.
IC Markets Customer Support
The support team it’s available from Monday to Sunday 24 hours a day. IC Market also offers support through phone numbers and e-mail. The help center it’s there for you to answer any questions you may have related to IC Market services.