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.
City Index vs Pepperstone: City Index was founded in 1983 and is publicly traded, while Pepperstone began in 2010 and is not publicly traded. Neither broker is a bank. On the ForexBrokers.com scale (90–99 highly trusted; 80–89 trusted; 70–79 average risk; 60–69 high risk; under 59 not trusted), City Index scores 99 and Pepperstone 94—both in the highly trusted range.
Regulation: City Index holds 7 Tier-1 licenses and 1 Tier-2 license; Pepperstone holds 3 Tier-1 and 2 Tier-2 licenses. Tier-1 licenses are considered highly trusted and Tier-2 trusted by ForexBrokers.com, indicating both brokers are well regulated, with City Index offering broader top-tier coverage.
| 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 both offer competitive pricing, but they suit different types of traders. City Index’s commissions and fees are in line with the industry average for CFDs, forex, and spread betting, with its best pricing generally available on its own platform or MetaTrader. It also offers a Premium Trader account for active clients who deposit more than £10,000, plus rebates for high-volume traders in the U.K. and Australia. City Index is rated 4.5 out of 5 stars for commissions and fees and ranks #16 out of 36 brokers in this category.
Pepperstone tends to stand out more on pricing, especially on its Razor account and Active Trader program. The Razor account uses commission-based pricing and, as of July 2024, showed a low average EUR/USD spread of 0.10 pips, with an all-in cost of 0.80 pips after commission. Its Standard account is commission-free but has wider spreads, so it is usually the pricier choice. Pepperstone is rated 5 out of 5 stars for commissions and fees and ranks #6 out of 36 brokers.
In simple terms, City Index offers fair, average pricing with some useful discounts for active traders, while Pepperstone is usually the stronger pick if low trading costs are your main goal. Both brokers reward higher-volume traders, but Pepperstone has the edge overall for commissions and fees.
| Feature |
City Index
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | £100.00 | $0 |
| Average spread (EUR/USD) - Standard account | 1.4 | 1.1 |
| All-in Cost EUR/USD - Active | 0.9 | 0.8 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to range of investments, City Index offers a wider selection than Pepperstone. City Index provides access to 13,500 tradeable symbols, compared with 1,726 at Pepperstone, while both brokers support forex trading as CFDs or spot contracts. City Index also has a slight edge in forex pairs, with 66 available versus 65 at Pepperstone. Neither broker offers exchange-traded shares on U.S. or international stock exchanges, and neither lets you buy actual cryptocurrency.
That said, both City Index and Pepperstone do support copy trading and cryptocurrency CFDs, giving traders extra ways to build a portfolio through derivatives. Based on this category, City Index is rated 5 stars for Range of Investments and ranks #8 out of 36 brokers on ForexBrokers.com, while Pepperstone is rated 4 stars and ranks #23. Overall, City Index appears to give traders more choice across the markets it does offer.
| Feature |
City Index
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 1726 |
| Forex Pairs (Total) | 66 | 65 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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 give traders a strong set of platform choices, including free demo accounts, their own in-house platforms, Windows desktop downloads, web-based platforms, copy trading, and MetaTrader 4. Both also let you place trades directly from a chart, which can make it easier to react quickly while analyzing the market. If you want a broker with a familiar mix of trading tools and flexible access across devices, either one will fit many everyday trading needs.
The main difference is that Pepperstone also supports MetaTrader 5, while City Index does not. That extra platform may matter if you want the newer MetaTrader experience. In overall platform and tools ratings, City Index comes out ahead with 4.5 out of 5 stars and a #11 ranking out of 36 brokers, compared with Pepperstone’s 4 stars and #21 ranking. For traders comparing ease of use and platform selection, City Index has the slight edge, while Pepperstone stands out for offering MT5 alongside the other core tools.
| Feature |
City Index
|
Pepperstone
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 15 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and Pepperstone both make it easy to trade on the go, with iPhone and Android apps, price alerts, and watchlist syncing so changes carry over between the mobile app and online account. Each app also lets users draw trendlines on charts and auto-saves those drawings, which is helpful for keeping track of analysis without repeating work. For everyday mobile trading needs, both brokers cover the key basics well.
Where City Index pulls ahead is charting and overall app quality. Its mobile app includes 88 technical studies, compared with 30 at Pepperstone, giving traders more tools for analyzing price moves. City Index also scores higher overall, with a 4.5-star mobile trading app rating and a #9 ranking out of 36 brokers from ForexBrokers.com, while Pepperstone holds a 4-star rating and ranks #19. If mobile charting depth matters most, City Index has the edge; if you mainly want standard mobile trading features, both are solid options.
| Feature |
City Index
|
Pepperstone
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
City Index and Pepperstone both do well for market research, giving traders daily market commentary, forex news from major sources like Bloomberg and Reuters, sentiment tools, and an economic calendar for tracking global events. Both brokers are also rated 4.5 out of 5 stars for Research, which puts them among the stronger choices for traders who want regular market updates and useful background information.
The main difference is in their research tools. City Index includes Trading Central, which can help with technical analysis, while Pepperstone offers Autochartist instead. Pepperstone also supports market scanning through its own research tools, but it does not offer Trading Central. In ForexBrokers.com’s Research rankings, City Index places #10 out of 36 brokers, ahead of Pepperstone at #13, giving City Index a slight edge overall.
| Feature |
City Index
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
City Index and Pepperstone both give beginners a strong set of learning tools for forex and CFD trading. Each broker offers at least 10 education pieces focused on these markets, monthly online webinars, and plenty of beginner videos as well as advanced videos for traders who want to keep learning. Both are rated 4.5 out of 5 stars for Education, so in day-to-day use they look very similar for someone starting out or building more skills.
The main difference is in outside ranking: City Index places higher at #9 out of 36 brokers for Education, while Pepperstone sits at #15. That suggests City Index has a slight edge overall for learning support, even though Pepperstone still offers a well-rounded education center that should suit most beginners just fine.
| Feature |
City Index
|
Pepperstone
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 #17.
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 |
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Pepperstone
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| Trust Score | 99 | 94 |
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City Index vs Pepperstone: neither broker lets you buy actual (delivered) cryptocurrency, but both offer cryptocurrency CFDs for trading exposure.
City Index vs Pepperstone: both online brokers support ACH/SEPA transfers, PayPal, and bank wire deposits and withdrawals, while neither supports Skrill.
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 | 94 | |
| 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 | 94 | |
| 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 (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| 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) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | City Index | Pepperstone | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 1726 | |
| Forex Pairs (Total) | 66 | 65 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 account | 1.4 | 1.1 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.8 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | City Index | Pepperstone | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | City Index | Pepperstone | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes |
| Trading Tools | City Index | Pepperstone | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 88 | 15 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | City Index | Pepperstone | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | Pepperstone | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | City Index | Pepperstone | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | City Index Review | Pepperstone Review |
| Overall | City Index | Pepperstone | |
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| Trust Score | 99 | 94 | |
| Winner | check_circle | ||
| Review | City Index Review | Pepperstone Review |
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