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Data refreshed 25 Aug 2026 · Compiled by David Ispiryan
Trust rank #16 · Founded 1983
City Index is a well-regarded, regulated forex broker offering forex and CFD trading across a broad range of markets via web and mobile platforms, supported by research, charting, and risk management tools.…
Read the City Index review
Trust rank #10 · Founded 2010
Pepperstone is a well-regarded forex broker offering access to forex and CFD markets through multiple trading platforms, with tools for analysis and risk management.
Read the Pepperstone reviewCity Index (United Kingdom, founded 1983) holds 2 regulatory licences (ASIC, FCA), 2 of them tier-1, offers MT4, Proprietary and sits in our low-fee bracket. Pepperstone (Australia, founded 2010) holds 8 regulatory licences (ASIC, BaFin, CMA, CySEC, DFSA…), 3 of them tier-1, offers cTrader, MT4, MT5, TradingView and sits in our low-fee bracket. The two overlap in 228 countries; City Index is available in 2 countries where Pepperstone is not, and Pepperstone in 1 where City Index is not.
Scored on 8 measurable dimensions where both brokers have verified data. Dimensions missing for either side are excluded rather than guessed. This is a data summary, not a recommendation.
| Criteria | City Index | Pepperstone |
|---|---|---|
| Trust rank | #16 | #10 |
| Founded | 1983 | 2010 |
| Headquarters | United Kingdom | Australia |
| Regulators | ASIC, FCA | ASIC, BaFin, CMA, CySEC, DFSA, FCA, FSCA, SCB |
| Broker type | Market Maker | ECN, STP |
| Platforms | MT4, Proprietary | cTrader, MT4, MT5, TradingView |
| Instruments | Commodities, Forex, Indices, Metals | Commodities, Cryptocurrencies, Forex, Indices, Metals |
| Countries accepted | 230 countries | 229 countries |
| Fee level | Low | Low |
| Trading types | CFD Trading, Spot Trading | CFD Trading, Spot Trading |
| Best-for use cases | Retail Trading | Copy Trading, Professional Trading, Retail Trading |
Highlighted cells mark the stronger value where a direction is objectively better (e.g. more licences, lower fees). "Not verified" means the field is not yet in our catalogue for that broker — we never fill gaps with estimates.
Available at both (228): Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belize, Benin, Bermuda, Bhutan, Bolivia, Bonaire, Bosnia and Herzegovina, Botswana, Brazil, Brunei, Bulgaria, Burkina Faso, Burundi, Cabo Verde, Cambodia, Cameroon, Cayman Islands, Central African Republic, Chad, Chile, China, Christmas Island and 188 more.
Only City Index (2): Belgium, Spain.
Only Pepperstone (1): Canada.
Availability reflects the countries each broker declares it serves. Local rules change; confirm on the broker's own site before signing up.
Pepperstone holds more regulatory licences: City Index (ASIC, FCA) versus Pepperstone (ASIC, BaFin, CMA, CySEC, DFSA, FCA, FSCA, SCB). Tier-1 licences: City Index 2, Pepperstone 3.
City Index offers MT4, Proprietary; Pepperstone offers cTrader, MT4, MT5, TradingView.
Both sit in the same fee bracket (low) in our catalogue; compare the spreads and commission rows above for detail.
City Index is the older of the two, founded in 1983; Pepperstone was founded in 2010.
They overlap in 228 countries. City Index is additionally available in 2 countries (Belgium, Spain) and Pepperstone in 1 countries (Canada).
Risk warning: CFDs and forex are complex, leveraged instruments and carry a high risk of losing money rapidly. A majority of retail investor accounts lose money when trading CFDs. Nothing on this page is financial advice; verify licence status on the regulator's register before depositing. Full risk disclosure.