City Index vs Pepperstone Comparison

City Index vs Pepperstone Broker Comparison

City Index versus Pepperstone Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
NoneMT4, Advantage Web, Web Trader, AT Pro12,000+FCA, ASIC, MAS
$200MT4, MT5, cTrader95+FCA, ASIC

City Index and Pepperstone Comparison

While both of these brokers are FCA and ASIC regulated, City Index has a broader approach in terms of its services to traders, while Pepperstone has a more specialized approach. Pepperstone is an ECN broker, thus it provides very low spreads in a core group of CFDs, with a commission charge. Its online trading platforms reflect this, in that it provides MT4, MT5 and cTrader. City Index on the other hand is a CFD and spread betting broker which does not charge commissions, except for Shares CFDs. But it still manages to offer low spreads.

City Index has a broad range of market available and a relatively large number of individual markets. It provides two web traders. However it also offers MT4 and for advanced traders, AT Pro. Pepperstone additionally provides cTrader and MT5, which is are platforms optimised for ECN trading. Nonetheless, unlike Pepperstone, City Index is not a 'no dealing desk' broker. On MT4, these brokers have a similar number of markets available, but City Index has the bulk of its large offering on its other platforms. City Index is also regulated by the MAS in Singapore.

Minimum deposit and account types

City Index does not have a minimum deposit. The minimum deposit for Pepperstone is $AU/$/£200.

  • City Index offers CFD trading and spread betting. City Index provides a news feed, market reports and a Trading Academy.
  • Pepperstone offers four account types. These are Standard, Razor, Islamic (Swap Free) and Active Traders. Pepperstone provides trading guides, a market review and an economic calendar its website.
  • Pepperstone's Standard and Islamic accounts do not charge commissions and hence offer higher spreads as they include a mark up. The Razor account charges commissions and allows scalping.
  • Pepperstone's Active Traders account is for active traders and institutions depositing at least $25,000 and trading at least 250 lots a month. It offers EDGE ECN Execution, a dedicated relationship manager, a segregated customer account, advanced reporting, VPS hosting services and custom solutions.

Markets

  • On Web Trader, Advantage Web and AT Pro, City Index provides Forex pairs, Indices, Energy, Soft Commodities, Metals, Cryptocurrencies, Options, Shares, ETFs, Bonds, IPOs and Interest Rates, with 12,000+ available. City Index Australia and City Index Singapore have less markets (5,000+), as they do not offer spread betting.
  • On MT4, City Index offers Forex pairs, Indices, Energy, Soft Commodities and Metals, with 110+ available.
  • Pepperstone offers Forex pairs, Indices, Energy, Soft Commodities, Metals and Cryptocurrencies, with 95+ available.

City Index offers 80+ Forex pairs (on MT4), Pepperstone offers 60+ Forex pairs.

Cryptocurrencies

  • City Index provides Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple (as CFDs or for spread betting).
  • Pepperstone provides Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and Dash.

Spreads and leverage

  • City Index provides variable spreads, from 0.5 for EUR/USD, 1 for UK100, 0.3 for Gold and 0.04 for US Oil.
  • Spreads at Pepperstone are variable and are from 0.0 for EUR/USD (with an average of 0.2) plus a commission charge, from 0.6 for Gold and 0.05 for US Crude Oil. For the Standard account EUR/USD spreads are from 1 (with an average of 1.2) without a commission charge.
  • Maximum leverage for City Index (FCA regulated) is . Maximum leverage for Pepperstone (FCA regulated) is .
  • Maximum leverage for City Index (ASIC regulated) is 200:1. Maximum leverage for Pepperstone (ASIC regulated) is 500:1.

Commission charge

  • City Index does not charge commissions, except for Shares CFDs.
  • Pepperstone charges a commission of $3.76 or AU$3.5 or €2.61 per lot per side on the Razor account, depending on the account currency. cTrader commissions are 7 units per lot round trip of the first quoted currency in the traded currency.

Platforms

City Index offers two web trading platforms (Web Trader and Advantage Web), MT4 and AT Pro. Pepperstone offers MT4, MT5, cTrader and a web trader based on MT4. Both brokers have a minimum trade size of 0.01 lots for Forex on MT4.

Why City Index or Pepperstone ?

In some respects these brokers are similar: they both offer MT4. On this platform, they have similar number of markets. Thus both support MT4 trading. However Pepperstone arguably goes deeper, in that it is an ECN broker, supporting a wide range of trading styles, offering both MT5 and cTrader. City Index on the other arguably had goes deeper in terms of discretionary trading, offering two web traders and AT Pro, with many more markets (a relatively large offering compared with other brokers).

Comparison summary

  • City Index is a CFD and spread betting broker
  • Pepperstone is an ECN broker which also has STP trading
  • City Index offers a relatively large number and range of markets
  • Pepperstone offers a competitive number and range of markets for an ECN broker
  • City Index can provide low spreads without a commission charge
  • Pepperstone can offer very low spreads with a commission charge
  • Both brokers offer MT4 (and have a similar number of markets on these platforms)
  • Pepperstone also provides cTrader and MT5
  • City Index also offers two web traders and AT Pro
  • Both brokers provide support for trading automation
  • Only Pepperstone is a no dealing desk intervention broker
  • City Index and Pepperstone are FCA and ASIC regulated
  • City Index is also MAS regulated

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