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City Index vs Pepperstone 2023

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between City Index and Pepperstone? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, City Index ranks more highly than Pepperstone.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% 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.
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Overall RatingCity IndexPepperstone
Overall Rating 9.2 / 10 8.4 / 10
Account TypeCity IndexPepperstone
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account No Yes
Copy TradingCity IndexPepperstone
Social Trading / Copy Trading Yes Yes
DupliTrade No Yes
ZuluTrade No No
CryptocurrencyCity IndexPepperstone
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)City IndexPepperstone
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)City IndexPepperstone
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsCity IndexPepperstone
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting Yes Yes
Social Trading / Copy Trading Yes Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals Yes Yes
ETF Yes Yes
U.S. Stocks (CFD) Yes Yes
Trading PlatformsCity IndexPepperstone
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) No Yes
Regulatory LicensesCity IndexPepperstone
Tier-1 Licenses 3 2
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) Yes No
FCA Authorised (U.K.) Yes Yes
SFC Authorised (Hong Kong) No No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No No
Tier-2 Licenses 2 2
Tier-3 Licenses 1 1
Research, EducationCity IndexPepperstone
Trading Central (Recognia) Yes No
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes Yes
Autochartist No Yes
Investor Dictionary (Glossary) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Client Webinars (Archived) Yes Yes
Trading CostsCity IndexPepperstone
Minimum Initial Deposit ยฃ100.00 $200
Average Spread EUR/USD - Standard 1.0 (July 2022) 0.77 (September 2022)
All-in Cost EUR/USD - Active 1.0 (July 2022) 0.87 (September 2022)
Active Trader or VIP Discounts Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) Yes Yes
Trading ToolsCity IndexPepperstone
Watchlists - Total Fields 11 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 88 15
Mobile Charting - Indicators / Studies 88 30
Trust FactorsCity IndexPepperstone
Year Founded 1983 2010
Publicly Traded (Listed) Yes No
Bank No No
Authorised in European Union Yes info Yes info
Trust Score 99 93
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City Index vs Pepperstone Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare City Index vs Pepperstone.

Can I trust City Index?

City Index has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust Pepperstone?

Pepperstone has a trust score of 93, giving it a "Highly Trusted" trust label.

Is City Index a good broker?

City Index, part of StoneX Group, is a trusted broker with a long history of offering forex and CFDs across its global offices. City Index provides a large range of markets on its flagship trading platform suite, but pricing is just average, and only a few markets are available on City Index's MetaTrader platform.

Is Pepperstone a good broker?

Pepperstone offers numerous trading platforms (including for social copy trading) and tools for algorithmic traders, including the full MetaTrader suite. Traders gain access to high-quality research and an above-average range of markets.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. City Index is ASIC Authorised (Australia), IIROC Authorised (Canada), MAS Authorised (Singapore) and FCA Authorised (U.K.), while Pepperstone is ASIC Authorised (Australia) and FCA Authorised (U.K.)., neither have SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, both City Index and Pepperstone are CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa) and SEC Authorised (Thailand). When comparing tier-3 licenses City Index is CIMA Authorised (Cayman Islands), while Pepperstone is SCB Authorised (Bahamas)., neither have IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms City Index supports a Proprietary Platform and Desktop Platform (Windows), whereas Pepperstone supports a Desktop Platform (Windows), cTrader and DupliTrade., neither have ZuluTrade

Does City Index offer MetaTrader? Does Pepperstone offer MetaTrader?

For MetaTrader City Index provides MetaTrader 4 (MT4), while Pepperstone provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do City Index and Pepperstone differ in terms of minimum deposit? What about average spreads and funding options?

City Index requires a minimum deposit of ยฃ100.00, while Pepperstone requires a minimum deposit of $200. From our testing we found City Index offers spreads of 1.0 (July 2022), while Pepperstone offers spreads of 0.77 (September 2022). City Index supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where Pepperstone supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, City Index or Pepperstone?

Both City Index and Pepperstone allow you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, City Index has 13500, compared to 1200 from Pepperstone.

Can I trade cryptocurrency with City Index or Pepperstone?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither City Index nor Pepperstone allow you to trade physical cryptocurrencies.

Who offers more research tools, City Index or Pepperstone?

In terms of research and research tools City Index gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison Pepperstone has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.

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