Choose City Index if you want…
UK + EU + APAC discretionary traders wanting an established LSE-credible brand with deep instrument coverage.
City Index
⭐ 4.4 / 5
VS
Pepperstone
⭐ 4.7 / 5
City Index vs Pepperstone — which broker is better in 2026?
We compared City Index and Pepperstone across five core criteria: regulation, minimum deposit, spreads, platform choice, and overall user rating. Pepperstone wins on more criteria (4 categories vs 0), making it the stronger default for most traders. Both brokers remain reputable, independently tier-1 regulated options.
| City Index | Pepperstone | Winner | |
|---|---|---|---|
| Rating | ⭐ 4.4 / 5 | ⭐ 4.7 / 5 | Pepperstone |
| Regulators | FCA, ASIC, MAS Singapore | FCA, ASIC, CySEC, DFSA, BaFin, SCB, CMA Kenya | Pepperstone |
| Min. deposit | $0 (no minimum) | $0 (no minimum) | Tie |
| Spreads from | 0.5 pips (Standard) | 0.0 pips (Razor) | Pepperstone |
| Max. leverage | Up to 1:30 (EU retail) / 1:50 (Pro) | Up to 1:30 (EU/UK retail) / 1:500 (offshore) | — |
| Platforms | MT4, Web Trader Pro, AT Pro, TradingView | MT4, MT5, cTrader, TradingView, DupliTrade | Pepperstone |
| Founded | 1983 | 2010 | — |
| HQ | London, UK | Melbourne, Australia | — |
Pros & cons compared
City Index pros
- ✓ Founded 1983 — one of the oldest CFD brokers in the UK
- ✓ Part of StoneX Group (NASDAQ: SNEX) — same parent as Forex.com
- ✓ FCA + ASIC + MAS tier-1 regulation
- ✓ 12,000+ instruments incl. share CFDs from 26+ exchanges
- ✓ Web Trader Pro — sophisticated charting with Reuters news integration
Cons
- ✗ Spreads on FX (0.5+ pips) wider than ECN brokers
- ✗ Inactivity fee of $15/month after 12 months dormant
- ✗ Limited proprietary mobile app vs. peers
Pepperstone pros
- ✓ Seven tier-1 regulators including FCA, ASIC, CySEC, BaFin, DFSA
- ✓ No minimum deposit — start with any amount
- ✓ Razor account spreads from 0.0 pips with $3.50/lot commission
- ✓ Native TradingView platform integration for chart-first traders
- ✓ 1,200+ instruments incl. shares CFDs from 16 global exchanges
Cons
- ✗ Limited crypto offering vs. Exness or Bybit
- ✗ EU leverage 1:30 (ESMA)
- ✗ No proprietary platform — relies on third-party
Which one should you choose?
Choose Pepperstone if you want…
Serious retail traders who want tier-1 regulation, tight spreads, and platform choice (MT4/5/cTrader/TradingView).
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs with Pepperstone. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Frequently asked questions
Which is better — City Index or Pepperstone?
Based on five comparison criteria (regulation, deposit, spreads, platforms, overall rating), Pepperstone wins 4 categories. That makes it the stronger default choice — though both brokers remain reputable, independently tier-1 regulated options.
Is City Index more regulated than Pepperstone?
City Index holds licenses from: FCA, ASIC, MAS Singapore. Pepperstone holds licenses from: FCA, ASIC, CySEC, DFSA, BaFin, SCB, CMA Kenya. Pepperstone has more regulatory licenses, giving it broader geographic coverage.
What are the spreads at City Index vs Pepperstone?
City Index spreads start from 0.5 pips (Standard). Pepperstone spreads start from 0.0 pips (Razor). Actual spreads vary by account type and market conditions.
Which has a lower minimum deposit, City Index or Pepperstone?
City Index: $0 (no minimum). Pepperstone: $0 (no minimum). Both require the same minimum.
