Pepperstone vs City Index - Fees Review included
Which broker is better Pepperstone or City Index? Our expert assessment conducted according to TU’s own methodology showed that Pepperstone is one of the top brokers in the financial market with the TU Overall Score of 7.22 out of 10. City Index is one of the top brokers in the financial market with the TU Overall Score of 4.66 out of 10. Find out more about TU Overall Score.
Feature | Pepperstone | City Index |
---|---|---|
Overall |
4.4 |
3.9 |
4.7 |
4.5 |
|
4.7 |
4.7 |
|
4.4 |
4.2 |
|
Investment Instruments |
4.4 |
1 |
Platforms and Charting Tools |
4.8 |
3.7 |
Deposit and Withdrawal |
4.5 |
4.0 |
Research |
3.9 |
4.0 |
Education |
4.1 |
4.5 |
Support |
4.3 |
4.5 |
Bonuses |
3.2 |
3.8 |
|
Pepperstone vs City Index: Pros and Cons
Pepperstone (Pepperstone.com) was founded in 2010 in Melbourne, Australia, by professional traders who were not satisfied with the quality of services provided by most brokers. The founders decided to avoid many of the disadvantages of competitors, including high commissions, delayed execution of orders, etc. They also focused on improving the technical component. The company has set itself the goal of changing the “rules of the game” and setting the bar high for online trading. Today, the broker provides clients all over the world with some of the best technological solutions and favorable trading conditions. The company also provides professional tools that help not only master trading as a type of activity, but also significantly increase the efficiency of trades. Pepperstone is regulated by ASIC (Australian Securities and Investments Commission), FCA (UK Financial Conduct Authority), BaFin, DFSA, CMA, SCB, CySec. Clients' assets are held in aggregated accounts with major banks. These facts confirm the reliability of the company and guarantee the safety of the client's capital.
The City Index broker was founded in 1983 in London. This company allows its clients to engage in active trading and place bets on the spread. City Index is licensed and regulated by the UK’s FSA — UK Financial Services Authority (license number 113942). The broker has received tremendous awards numerous times, including "Best Loyalty Trading Program" (2019), "Best Trading Platform" (2019), and "Best CFD Provider" (2020) while providing financial services
Pepperstone | City Index | |
---|---|---|
Overall Pros | Fast order execution - 30 ms on average | a vast array of trading instruments |
Low trading fees | both floating and fixed spreads are available to users | |
Strong luqidity | MetaTrader 4 terminal is provided for trading, as well as a web terminal and mobile applications | |
Advanced ECN account | ||
Access to TradingView's advanced charting tools | ||
Strong regulation | ||
Overall Cons | The company offer Crypto CFDs outside Africa and UK | the trading platform periodically malfunctions |
shortage of deposit/withdrawal methods | ||
a broker can reject an application regarding opening a trading account if the user does not have enough trading experience or his starting capital is not sufficient for trading |
Pepperstone vs City Index: Safety and Regulation
Regulated By: | Pepperstone | City Index |
---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
Dubai Financial Services Authority (DFSA), BAFIN, SCB, CMA |
No |
Pepperstone vs City Index: Trading Conditions
Trading Conditions | Pepperstone | City Index |
---|---|---|
Minimum Deposit |
$0 |
$100 |
Trading Platforms |
MT4, MobileTrading, WebTrader, cTrader, TradingView |
MT4 |
Max Leverage (Futures) |
1-500 |
1-100 |
Supported Markets |
Forex, CFDs on Stocks, Commodities, Metals and ETFs, Shares, Crypto |
Forex, CFDs on stocks, indices, commodities, metals, cryptocurrencies |
Trading assets |
1200+ |
300+ |
Trading Accounts |
Razor, Standard |
Real, demo |
Base Account Currencies |
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD |
USD, EUR, GBP |
Pepperstone vs City Index: Fees
Forex Trading Fees
Fee | Pepperstone | City Index |
---|---|---|
Standard Account EURUSD Average Spread |
0.77 pips |
0.5 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
MT4/MT5 Razro - $3.5 per lot. cTrader - $3 per lot |
Not supported |
ECN Account EUR Average Spread |
0.17 pips |
Not supported |
CFD Trading Fees
Fee | Pepperstone | City Index |
---|---|---|
CFD Trading Fee |
US Shares and ETF CFDs - $0.02 per share, AU shares CFDs - 0.07$ (minimum AUD5), UK shares CFDs - 0.1% (minimum £10), German shares CFDs - 0.1% (minimum €10) Other markets - floating spread |
Floating spread |
Non-Trading Fees
Fee | Pepperstone | City Index |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
$15 per month after 24 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Pepperstone vs City Index: Trading Assets
Asset Name | Pepperstone | City Index |
---|---|---|
Overall |
1200+ |
300+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Pepperstone or City Index: Investment Programs
Asset Name | Pepperstone | City Index |
---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: City Index or Pepperstone
Pepperstone | City Index | |
---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
Yes |
No |
Appropriate platform |
No |
No |
Others |
TradingView |
No |
|
Pepperstone vs City Index: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | Pepperstone | City Index |
---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not available for all countries) |
No |
Crypto |
No |
No |
Pepperstone vs City Index: Research
Research Type | Pepperstone | City Index |
---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
Pepperstone vs City Index: Education
Education Type | Pepperstone | City Index |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
City Index vs Pepperstone: Support
Support Features | Pepperstone | City Index |
---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Pepperstone vs City Index: Forex Bonuses and Promo
Promo | Pepperstone | City Index |
---|---|---|
Forex Bonus |
No |
No |
Affiliate Program |
For each attracted client under the terms of the program, the affiliate has the opportunity to receive up to USD 400 |
For each invited client, a trader can receive from $150 to $650 |
Other Promos |
Active trader program - Members of the program are paid a daily rebate, which allows them to offset part of their costs. The amount of the rebate depends on the number of trades performed by the trader per month. The rebate for one currency lot is 15%. What’s more, active traders get priority support and free VPS hosting. |
No |
|
Top 5 Reviews on City Index
-
Comment
There is no promised fast fulfillment. Rather, it disappeared after a day of successful trading. Now the execution takes from 3000 to 5000 ms, and the connection has nothing to do with it. Technical support says nonsense intelligible. This practice is used in all kitchens of this type.
-
Comment
These are scammers! Not only is the money withdrawn for a very long time and there are always only replies, but the money also disappears from the account. Apparently, things are really bad in City Index and in this way they are trying to earn money. Do not mess with this broker!
-
Comment
Broker City Index chose in the first place because it is one of the oldest companies that operate in the financial markets. In addition, it is accredited by the FCA, which, unlike some offshore firms, not only collects money for issuing a license, but also exercises strict supervision over the activities of controlled companies. I started trading on the usual Metatrader 4, as I was sure that the author's platforms were not suitable for conducting a full-fledged technical analysis. But for the sake of interest on a demo account, I tried to open a couple of deals on At Pro from City Index specialists. Now I work only on this terminal. Simple interface, many tools. Free trading signals are very helpful.
-
Comment
Look before you leap, but having leapt never look back. It's the same with City Index: there's nothing to do here for beginners. The more assets and settings on trading platforms, the more likely you are to get confused and lose everything. The experienced folks here have something to play with. It is good for gaining experience with different markets, but it is still controversial for constant trading. Let's see how the broker will show itself with the withdrawal of funds.
-
Comment
I'm quite happy with the conditions in the City Index. All the tools are there, there were no questions with the replenishment and withdrawal yet, which is important. I also did not observe any sudden price changes. But there’s a problem with the payment systems... I want more of them. I want updates also - maybe for investment programs, for example. It always gets annoying if the broker doesn’t try to be a better version of itself. I hope that City Index is not the type, but just in case I don’t keep all of my assets here.
Top 5 Reviews on Pepperstone
-
Comment
As a beginner trader on Pepperstone, one of the biggest tools you should spend time practicing with is the demo account. This is where you can get the perfect practical experience you need to manage the risk the Forex market is known to exist with. You cannot survive in the trading sector if you do not know how to analyze charts using candles and several indicators available on Pepperestone. You can find good trading signals from tools like AutoChartist and the Professional Forex Signal Service, which allow you to copy trading strategies from a large selection of signal providers in a few minutes. But, I would suggest that beginner traders learn how to analyze the market using tools available (charts and indicators) on the Pepperstone demo account, as it will help them learn and become better traders from the trading signals they copy from professionals if they can interpret the strategies.
-
Comment
When I first traded on Pepperstone, one of the trading features i did not quickly understand but rated it as important when i get to understand what it is used for is pips. Infact beginner traders should learn about pips and use them very well when practicing on the demo account provided by Pepperstone. In Forex Trading, Pips happen to be the smallest unit price move an exchange rate makes, and the value depends on the currency pair, trade value and exchange rate. Understanding and utilizing PIPs is crucial for traders as it allows them to accurately assess profit and loss, determine entry and exit points, set stop-loss and take-profit levels, and calculate risk-reward ratios. Additionally, PIPs provide a standardized method for comparing currency pair performance and evaluating market volatility. I would use the Pepperstone pip calculator to calculate the pip value of pairs before i trade. For example, when trading EUR/USD the fixed pip is at 0.01. The value of one pip size is calculate by multiplying the trade value by 0.01.
-
Comment
When trading on Pepperstone, one of the useful tools that make trading much easier is the Autochartist. Analyzing trades to good trade opportunities in real time is when most of the daunting tasks in trading lie. Since the broker incorporates the Autochartist tool, I use the tool to identify chart patterns using technical indicators such as Fibonacci retracements. It is built to recognize trading opportunities based on support and resistance levels, and it keeps an eye on the markets around-the-clock to notify you when there are opportunities to trade. Pepperstone Autochartist is simple to use. First, download the Autochartist mobile app. Next, choose Trading Tools from the secure client area. Next, choose Login to the Mobile App. Finally, use your smartphone to scan the QR code to begin using Pepperstone Autochartist. I use the autochartist in MT4 and MT5 to directly plot trend lines and obtain price forecasts. Simply analyzing the price graph will allow traders to select trades.
-
Comment
Pepperstone Broker is licensed by ASIC regulator, with over ten years of experience, offering conditions suitable for traders of various levels. I started with two hundred dollars, offering spreads from zero, many instruments, and fast execution. Now, about what the company lacks. There are no micro accounts here, and high leverage is only available to professional traders. But I am satisfied with the reliability, quality of services, and the working terminal at Pepperstone Broker.
-
Comment
Pepperstone offers decent trading conditions. I trade all liquid instruments on the Standard account. Everything suits me here. In general, the performance is also not disappointing. I recommend it.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.