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 two prominent online brokers offering varied commission and fee structures. City Index's commissions align closely with the industry standard, especially for CFDs, forex, and spread-betting. With an average spread of 0.74 pips on the EUR/USD, City Index maintains an all-in cost reflecting the sector norm, although it trails behind leaders like Tickmill and FP Markets. Traders with over £10,000 may benefit from a Premium Trader account, offering special pricing and services. Additionally, professional traders can earn rebates that increase with higher monthly trading volumes in both the UK and Australia.
Pepperstone provides competitive pricing, particularly for high-volume traders utilizing the Razor account. This account, paired with TradingView, MetaTrader, or cTrader, introduces a commission-based model and advertises an attractive average spread of 0.10 pips on the EUR/USD. After including the equivalent commission, the total cost becomes 0.80 pips, aligning closely with industry averages. Although Pepperstone's Standard account is commission-free, it features a broader average spread of 1.1 pips on the EUR/USD, making the Razor account more cost-effective. The broker's Active Trader program offers rebates based on trading volume, providing additional savings potential for frequent traders.
Both City Index and Pepperstone cater well to professional traders through rebate programs that scale with trading volume, though the specifics vary by region. City Index is assigned a 4.5-star rating for commissions and fees and is ranked 14th among 63 brokers in this category by ForexBrokers.com. Pepperstone also boasts a 4.5-star rating, but excels slightly with a 10th place ranking. These assessments reveal that both brokers are strong contenders, with individual advantages that merit consideration based on a trader's specific needs and trading style.
| 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.
When comparing City Index and Pepperstone, both platforms excel in offering a wide range of investment opportunities, although City Index seems to provide a broader selection. City Index supports forex trading as a CFD or spot contract, providing access to an impressive 13,500 tradeable symbols and 66 forex pairs. In contrast, Pepperstone also offers forex trading as a CFD or spot contract with a more modest 1,726 tradeable symbols and 65 forex pairs. Despite both platforms enabling copy trading and cryptocurrency derivatives, neither allows for the purchase of actual cryptocurrencies or exchange-traded securities on U.S. or international exchanges.
City Index clearly takes the lead with a five-star rating for its range of investments, being ranked #8 out of 63 brokers by ForexBrokers.com. Meanwhile, Pepperstone holds a respectable four-star rating and is ranked #26 in the same category. This suggests that while both platforms offer solid trading opportunities, City Index might be the preferred choice for those seeking a more extensive array of investment options.
| 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.
City Index and Pepperstone both offer a range of trading platforms and tools that cater to various traders' needs, including offering simulated trading with free virtual demo accounts. Both brokers provide proprietary platforms, allowing traders to benefit from in-house developed solutions, alongside access to popular choices like MetaTrader 4. However, when it comes to MetaTrader 5, only Pepperstone provides access. In terms of trading directly from stock charts, both brokers offer this functionality, equipping users with a seamless trading experience.
Looking at charting tools, City Index outshines with 239 drawing tools compared to Pepperstone's 30, although the specific number of technical indicators wasn't mentioned. Watch lists are another area where City Index offers more flexibility, providing 11 fields against Pepperstone's 7. Despite both offering copy trading, only Pepperstone supports DupliTrade. In a comparison of awards and accolades, City Index secures a marginally higher rating of 4.5 stars for their platforms and tools, whereas Pepperstone receives 4 stars. City Index also ranks higher in platform and tools ratings from ForexBrokers.com, holding the 11th spot out of 63 brokers, while Pepperstone ranks 22nd.
| 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.
When comparing the mobile trading apps offered by City Index and Pepperstone, both brokers provide iPhone and Android apps with essential features like price alerts and syncing watchlists with online accounts. Traders can also draw trend lines, view multiple time frames, and create watchlists with real-time quotes across both platforms. A standout feature for City Index is its offering of 88 technical studies for charting, compared to Pepperstone's 30, giving City Index an edge for traders looking for more in-depth analysis tools.
Both apps automatically save chart drawings, ensuring users do not lose crucial analysis work. In terms of user satisfaction and expert assessment, City Index scores higher with a 4.5-star rating, ranking #9 out of 63 brokers on ForexBrokers.com for mobile trading apps. Pepperstone trails slightly with a 4-star rating and a #21 ranking, highlighting City Index as the preferred choice for those seeking an enhanced and highly rated mobile trading experience.
| 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 excel in providing daily market commentary and offer forex news from reputable sources like Bloomberg, Reuters, and Dow Jones. When it comes to technical analysis tools, City Index partners with Trading Central to offer a range of analytics, while Pepperstone collaborates with Autochartist, providing a robust suite of research tools for traders focused on technical strategies. Both brokers also offer sentiment-based trading tools that display the ratio of long to short positions, enhancing traders’ decision-making processes.
In terms of rankings and ratings, City Index and Pepperstone are equally rated at 4.5 stars for research. Although City Index edges out slightly in rankings by ForexBrokers.com at #10 compared to Pepperstone’s #12, both brokers offer comprehensive resources, including an economic calendar, allowing traders to stay informed about global economic events. While neither broker provides research from TipRanks or Acuity Trading’s Signal Centre, their overall offerings make them strong choices for those looking to enhance their trading strategies through informed 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 provide comprehensive offerings. Each broker ensures newcomers have access to a wealth of knowledge, delivering at least ten educational pieces focused on forex and CFDs, including articles, videos, and archived webinars. Beginners can benefit from regular online educational webinars offered by both platforms, with a searchable archive available for those who wish to learn at their own pace. For those new to trading, City Index and Pepperstone both offer an extensive selection of beginner videos, with over ten dedicated to foundational trading topics.
Both brokers also cater to more advanced traders, offering a variety of educational videos designed for experienced investors. An investor dictionary with definitions of at least fifty investing terms further enhances the learning journey for users of both platforms. With an equal educational rating of 4.5 out of 5 stars, City Index and Pepperstone demonstrate a strong commitment to education. However, in the ForexBrokers.com ranking of 63 brokers, City Index takes the edge, securing the 9th spot compared to Pepperstone's 17th position, indicating a slightly higher recognition for its educational offerings.
| 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 63 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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