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 7.17 out of 10. City Index is one of the top brokers in the financial market with the TU Overall Score of 6.59 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
| Pepperstone | City Index | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
£85,000 €20,000 €100,000 (DE) |
£85,000 |
FCA UK Regulation |
Yes |
Yes |
FINRA (U.S) |
No |
No |
BaFin (Germany) |
Yes |
No |
ASIC (Australia) |
Yes |
No |
CFTC (U.S) |
No |
No |
MAS |
No |
No |
FSCA SA |
No |
No |
BVI FSC |
No |
No |
VFSC |
No |
No |
FSA (Seychelles) |
No |
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
| Pepperstone | City Index | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,5 |
0,1 |
Standard acc. spread EUR/USD, max pips |
1,5 |
0,3 |
ECN Commission |
3 |
5 |
ECN Spread EUR/USD |
0,1 |
0,15 |
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
No |
Withdrawal fee, USD |
No |
No |
Inactivity fee, $ |
No |
12 |
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
| Pepperstone | City Index | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
No |
No |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
Yes |
Yes |
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
I started working with Pepperstone on the recommendation of a friend who has been in the market for several years. I was pleasantly surprised that spreads start from 0.0 pips and there are over 1,200 trading instruments to choose from! I opened my account in EUR, although other currencies are available, including SGD and HKD. I trade through MetaTrader 5, and for experimentation, I connected cTrader — it’s convenient to switch between platforms. I managed to earn +$400 on cryptocurrencies during the first week, especially on ETH’s rise. Throughout my time trading, I haven’t encountered any requotes.
-
Comment
I chose Pepperstone because of its zero minimum deposit — a rarity among major brokers. I appreciated that the platform is regulated by several reputable authorities: ASIC, FCA, BaFIN, and others. Over three months of trading with 1:400 leverage, I managed to grow my deposit by $750 using scalping on currency pairs and indices. Order execution is nearly instant — averaging 30 ms, and the difference is noticeable compared to other brokers. I withdraw profits to my card without delays and with no fees.
-
Comment
Pepperstone offers a combination of transparent trading conditions, fast order execution, and a wide range of instruments. Over the years, the broker has proven to be a reliable partner: its registration with ASIC, FCA, CySEC, and other regulators reflects the trust placed in the company. A $0 minimum deposit makes it accessible for beginners. A nice bonus is support for over 30 languages and 24/5 customer service. Thanks to its variety of account types, negative balance protection, and passive income opportunities through copy trading, Pepperstone has become my go-to choice for long-term trading.
-
Comment
Pepperstone stands out with a free 60-day demo account and two types of live accounts: Razor and Standard. The absence of a minimum deposit, a wide range of base currencies (9 options), and support for 16 trading platforms are definite advantages. Thanks to its partnership programs, the broker is appealing not only to traders but also to those building their own communities — with three partnership models, including one for fund managers. Order execution averages 30 ms, making it suitable for all strategies, including manual and automated trading.
-
Comment
I opened a Razor account with Pepperstone — the actual commission is low, and spreads start from zero. Trading CFDs on cryptocurrencies, commodities, and indices is a big plus. The minimum trade size is 0.01 lots, which is convenient for testing new strategies. I was pleased with the instant withdrawals via Visa, Mastercard, PayPal, Neteller, Skrill, and other popular systems. The platform allows flexible risk management with Margin Call/Stop Out levels at 90%/20%. Additionally, the broker partners with Barclays and HSBC as liquidity providers, which adds to its reliability.
- Quotex vs Pepperstone
- Webull vs Pepperstone
- Deriv vs Pepperstone
- Pepperstone vs Trade Nation
- Pepperstone vs OspreyFХ
- Pepperstone vs Eightcap
- Pepperstone vs AMP Global
- Pepperstone vs NinjaTrader
- Pepperstone vs Vantage
- Pepperstone vs BlackBull Markets
- Pepperstone vs SimpleFX
- Pepperstone vs Tradeview
- Pepperstone vs Trading 212
- Pepperstone vs XBTFX
- Pepperstone vs BDSwiss
- Pepperstone vs IronFX
- Pepperstone vs FXOpen
- Pepperstone vs MultiBank
- Pepperstone vs Swissquote
- Pepperstone vs IG
- Pepperstone vs Saxo Bank
- Pepperstone vs Dukascopy
- Pepperstone vs LiteForex
- Pepperstone vs WelTrade
- Pepperstone vs eToro
- Pepperstone vs CMC Markets
- Pepperstone vs FP Markets
- Pepperstone vs OctaFX
- Pepperstone vs HotForex
- Pepperstone vs FBS
- Pepperstone vs Fusion Markets
- Pepperstone vs XTB
- Pepperstone vs Plus500
- Pepperstone vs Interactive Brokers
- Pepperstone vs AvaTrade
- Pepperstone vs Forex.com
- Pepperstone vs Libertex
- Pepperstone vs XM
- Pepperstone vs InstaForex
- Pepperstone vs RoboForex
- Capital.com vs Pepperstone
- Exness vs Pepperstone
- Oanda vs Pepperstone
- FxPro vs Pepperstone
- Admiral Markets vs Pepperstone
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.