Written by ForexBrokers.com
In this head to head comparison of City Index vs Pepperstone, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When comparing City Index and Pepperstone, both brokers bring distinct strengths to the table, especially in terms of their regulatory credentials. Founded in 1983, City Index holds a commanding presence in the market with 7 Tier-1 licenses, underscoring its status as a highly trusted broker. With a top-tier ForexBrokers.com Trust Score of 99, City Index assures clients of its robust standing. While it is not a bank, City Index is publicly traded, which may imply an added layer of transparency for investors.
Pepperstone, on the other hand, was established in 2010 and has swiftly built trust within the financial community. Holding 3 Tier-1 licenses and 2 Tier-2 licenses, Pepperstone achieves a commendable Trust Score of 95. Not publicly traded and not a bank, Pepperstone still establishes a solid foundation of trust, making it a favorite among traders seeking reliability within a relatively short timeframe. Both City Index and Pepperstone offer secure trading opportunities, yet their regulatory licenses and Trust Scores may guide investors based on individual preferences for market credentials and regulatory oversight.
| Feature |
City Index
|
Pepperstone
|
|---|---|---|
| Year Founded | 1983 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
City Index and Pepperstone are both top-rated brokers that offer competitive pricing, each earning 4.5 stars for their commissions and fees. City Index stands at rank #14 out of 62 brokers on ForexBrokers.com. Their pricing for CFDs, forex, and spread-betting products generally aligns with the industry average. For the EUR/USD pair, City Index lists an average spread of 0.74 pips as of July 2023. They provide attractive options for active traders, offering rebates that range from £4 to £7.5 per million, depending on the trading volume. City Index also offers the Premium Trader account with exclusive benefits for clients who deposit over £10,000.
Pepperstone is slightly ahead, ranked #10 out of 62 by ForexBrokers.com. Known for its highly competitive Razor account, Pepperstone presents an average spread of 0.10 pips for the EUR/USD, with an all-in cost climbing to 0.80 pips when factoring in commissions. The Standard account, commission-free, averages a higher spread of 1.1 pips. Pepperstone shines with its Active Trader program, offering rebate tiers that depend on monthly trading volume, potentially reducing spread costs significantly for high-volume traders.
Both brokers cater to active and professional traders with special programs. City Index offers substantial rebates for traders in the U.K. and Australia, while Pepperstone offers similar deals for clients in the U.K., EU, and Australia. With effective cost management, traders can take full advantage of these offerings to reduce their trading expenses. Whether you choose City Index or Pepperstone, both brokers provide competitive and flexible fee structures to suit various trading needs.
| Feature |
City Index
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | £100.00 | $0 |
| Average Spread EUR/USD - Standard | 1.4 | 1.00 |
| All-in Cost EUR/USD - Active | 0.74 | 0.70 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
City Index and Pepperstone both enable traders to engage in forex trading through CFDs or spot contracts, offering an attractive option for those interested in currency markets. While City Index excels with an impressive selection of 13,500 tradeable symbols, Pepperstone offers a more modest range with 1,726 symbols. Forex enthusiasts will find a slightly broader selection with City Index, which provides 66 tradeable forex pairs compared to Pepperstone's 65.
Neither City Index nor Pepperstone facilitates the trading of exchange-traded securities on U.S. or international exchanges, ensuring that clients focus on derivative trading options without the direct purchase of shares like Apple or Vodafone. Additionally, both platforms offer the ability to engage in copy trading and access to cryptocurrency derivatives, although without the opportunity to purchase actual cryptocurrencies. City Index earns a higher rating of 5 stars for its range of investments, significantly surpassing Pepperstone's 4-star rating and positioning itself at #8 in ForexBrokers.com's ranking, compared to Pepperstone's #26.
| Feature |
City Index
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 1726 |
| Forex Pairs (Total) | 66 | 65 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools offered by City Index and Pepperstone, both brokers provide a comprehensive suite of features designed to meet the needs of traders. Each platform offers a simulated trading experience through a free virtual demo account, allowing users to practice without financial risk. They both have proprietary trading platforms and support for Windows-based desktop downloads as well as web-based browser platforms. Traders interested in the popular MetaTrader 4 (MT4) will find it available at both brokers. However, Pepperstone stands out with the inclusion of MetaTrader 5 (MT5) and support for DupliTrade, although neither broker supports ZuluTrade.
City Index slightly edges out Pepperstone in terms of trading platform ratings, with a 4.5-star evaluation compared to Pepperstone's 4 stars. This may be attributed to City Index's broader array of drawing tools, offering 239 compared to Pepperstone's 30, and more customizable options with 11 columns for watch lists against Pepperstone's 7. Additionally, City Index ranks higher at #10 out of 62 brokers for trading platforms and tools according to ForexBrokers.com, while Pepperstone is positioned at #22. Both platforms allow trading directly from stock charts, enhancing the hands-on experience for traders.
| Feature |
City Index
|
Pepperstone
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 15 |
| Charting - Drawing Tools (Total) | 239 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and Pepperstone both offer iPhone and Android apps for mobile trading, making it easy for traders to stay connected on the go. Both brokers provide stock and forex price alerts and allow watchlist symbol syncing, ensuring any changes made sync across mobile and online platforms. Additionally, users can draw trend lines on charts and auto-save these drawings across both apps. The capability to view multiple time frames, such as daily, weekly, or intraday, is also offered by both brokers.
When it comes to features like charting analysis, City Index stands out, offering 88 technical studies compared to Pepperstone's 30. Both apps allow users to create watchlists with real-time quotes. In terms of user ratings, City Index garners a 4.5-star rating versus Pepperstone's 4 stars. Highlighting their excellence, City Index is ranked at #9 by ForexBrokers.com for mobile apps, while Pepperstone holds the #21 spot, showcasing City Index's slight edge in overall user experience and features.
| Feature |
City Index
|
Pepperstone
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
City Index and Pepperstone both offer comprehensive market research services. They provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters, making them well-equipped to keep traders informed. While both brokers offer sentiment-based trading tools and economic calendars for tracking global events, they differ in their technical analysis features. City Index utilizes Trading Central for technical analytics but lacks tools from Autochartist and Acuity Trading, whereas Pepperstone incorporates Autochartist but not Trading Central or Acuity Trading resources. Neither broker offers market research from TipRanks.
In terms of research quality, both brokers receive a commendable 4.5-star rating. However, City Index holds a slight edge with a #10 ranking from ForexBrokers.com, compared to Pepperstone's #12 spot. This suggests that while both brokers deliver strong research capabilities, City Index may offer a slightly more favorable experience for users seeking a diverse array of market insights.
| Feature |
City Index
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both City Index and Pepperstone excel in offering a wide array of learning materials. They each provide more than ten educational pieces focused on forex and CFDs, including articles, videos, and archived webinars, ensuring that beginners have plenty of content to get started with. Additionally, both platforms host at least one educational webinar per month and maintain a searchable archive of past recorded sessions for convenient reference. For novice traders, City Index and Pepperstone both present over ten beginner-focused videos that cover essential trading topics, which can be incredibly beneficial for grasping the basics of trading.
For those looking to deepen their knowledge, City Index and Pepperstone offer over ten advanced educational videos tailored for experienced traders. Additionally, both brokers provide an investor dictionary with definitions of over 50 investing terms, a handy tool for anyone new to the financial world. Despite both being rated 4.5 stars for their educational offerings, City Index is ranked slightly higher at #9 in the Education category compared to Pepperstone, which comes in at #17. This slight edge might make City Index a more appealing choice for those prioritizing educational resources in their trading journey.
| Feature |
City Index
|
Pepperstone
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that City Index is better than Pepperstone. City Index finished with an overall rank of #8, while Pepperstone finished with an overall rank of #16.
Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.
| Feature |
City Index
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Pepperstone
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 95 |
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Both City Index and Pepperstone do not provide the option to purchase actual cryptocurrency but do offer the ability to trade cryptocurrency derivatives.
Both City Index and Pepperstone provide flexible deposit and withdrawal options with support for ACH and SEPA transfers, PayPal, Visa, Mastercard, and bank wires, while only Pepperstone additionally offers Skrill as a payment method.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | City Index | Pepperstone | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | City Index Review | Pepperstone Review |
| Broker Screenshots | City Index | Pepperstone | |
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| Regulation | City Index | Pepperstone | |
|---|---|---|---|
| Trust Score | 99 | 95 | |
| Year Founded | 1983 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 3 | |
| Tier-2 Licenses | 1 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | City Index | Pepperstone | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | City Index | Pepperstone | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | Pepperstone | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 1726 | |
| Forex Pairs (Total) | 66 | 65 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | City Index | Pepperstone | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 1.00 | |
| All-in Cost EUR/USD - Active | 0.74 | 0.70 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | Pepperstone | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | City Index | Pepperstone | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | City Index | Pepperstone | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 15 | |
| Charting - Drawing Tools (Total) | 239 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | Pepperstone | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | Pepperstone | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | Pepperstone | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | Pepperstone | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | City Index Review | Pepperstone Review |
| Overall | City Index | Pepperstone | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | City Index Review | Pepperstone Review |
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