image Pepperstone VISIT PEPPERSTONE image Swissquote VISIT SWISSQUOTE image City Index VISIT CITY INDEX
About

Pepperstone is regulated by ASIC. Pepperstone have provided Forex trading services since 2010.

Swissquote is regulated by FINMA (Swiss Financial Market Supervisory Authority). Swissquote have provided Forex, Commodities, Indices, Stocks, Bonds trading services since 1999.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 8 years in business
  • Yes Segregates clients funds
  • Yes Regulated by ASIC
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters Melbourne, Australia Chemin de la Cretaux 33, 1196 Gland, Switzerland London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No Yes
Social Trading Yes Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 70 138 84
Commodities Offered 0 7 26
Stocks Offered 0 0 4500
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No Yes Yes
Penny stocks No Yes Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals No No Yes
FTSE No Yes Yes
Dow Jones No Yes Yes
Dax Yes Yes Yes
Nikkei No Yes Yes
ETFs No No Yes
IPO No No No
See all instruments

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

See all instruments

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

See all instruments

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 Yes Yes No
MT4 Mac Yes No No
WebTrader Yes Yes Yes
Mirror Trader No No No
ZuluTrade Yes Yes No
Sirix No No No
cTrader Yes No No
PAMM No No Yes
Custom Platforms No eTrading AT Pro, Advantage Web

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image No Yes Yes
Available Languages

English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic

English, German, French, Italian, Spanish, Arabic, Russian, and Chinese

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

See platform & features

Losses can exceed deposits

See platform & features

72% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Pepperstone and Swissquote

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No No Yes
Standard account Yes Yes Yes
ECN Account Yes No No
Islamic account Yes No No
Zero spread account No No No
VIP account No No Yes
Fixed spreads No Yes Yes
Variable spreads Yes No Yes
See account options

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

See account options

Losses can exceed deposits

See account options

72% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes No
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes No No
Direct market access Yes No No
STP broker Yes No Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot Varies 1 Lot
Max trade None Varies Varies
Min deposit $200 1,000 $25

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No No
Neteller Yes No No
Skrill Yes No No
Payment processing time Varies 1 business day 2-3 business days
Withdrawal processing time Varies 1 business day 2-3 business days
See all funding options

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

See all funding options

Losses can exceed deposits

See all funding options

72% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US US US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
Phone number 61 3 9020 0155 41 22 999 94 11 0845 355 0801
Live Chat Yes Yes Yes
Website https://pepperstone.com/ http://en.swissquote.com/ www.cityindex.co.uk
Spreads:
EUR/USD (Average: 0.7 pips) 1.0 pips + $5.00 1.0 pips 0.5 pips
GBP/USD (Average: 1.1 pips) 1.1 pips + $5.00 1.1 pips 0.5 pips
USD/JPY (Average: 1.1 pips) 1.1 pips + $5.00 1.3 pips 1.6 pips
AUD/USD (Average: 0.8 pips) 1.1 pips + $5.00 1.0 pips 0.5 pips
USD/CHF (Average: 2.3 pips) 1.0 pips + $5.00 1.7 pips 1.6 pips
USD/CAD (Average: 2.9 pips) 1.0 pips + $5.00 2.2 pips 0.5 pips
NZD/USD (Average: 3.6 pips) 1.1 pips + $5.00 1.5 pips 2.3 pips
EUR/GBP (Average: 2.4 pips) 1.0 pips + $5.00 1.3 pips 0.5 pips
View all spreads

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

View all spreads

Losses can exceed deposits

View all spreads

72% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee Yes No Yes
Commission Yes No 0.0015
Deposit Fee No No Varies
Withdrawal Fee No No Varies
View All Fees

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

View All Fees

Losses can exceed deposits

View All Fees

72% of retail investor accounts lose money when trading CFDs with this provider

Featured In Best cTrader Brokers
Best Brokers For Cocoa
Best Brokers For Metals
Best Dow Jones Brokers
Best DAX Brokers
Best Brokers For Indices
Best FTSE100 Brokers
Best Dow Jones Brokers
Best DAX Brokers
Best FCA Regulated Brokers
Best Day Trading Brokers
Best Brokers For Commodities
Best Brokers For Copper
Best DAX Brokers
Best FCA Regulated Brokers
Last update

All information collected from https://pepperstone.com/. Last updated on 01/07/2019.

All information collected from http://en.swissquote.com/. Last updated on 01/07/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/07/2019.

Company

Pepperstone provide a trading platform for retail and institutional investors looking for a broker that provides fast execution, reliable technology, award winning customer service all at superior competitive pricing.

Pepperstone was founded in 2010 to provide a solution to traders frustrated by slow trade execution, excessive spread and poor customer service from other online brokers. Pepperstone are a perfect choice for traders with spreads start from as low as 0 pips and combined with their use of leading technology platforms including MetaTrader 4 and cTrader.

For more information about trading with Pepperstone, we have put together an indepth Pepperstone review with all the pros and cons about this broker.

Swiss based Swissquote is an online trading company that provide everything you need to manage your assets online. With Swissquote you are only one click away from trading in the worlds major stock markets in over 1 million products. They give you access to equities, options and futures, funds, derivatives and more.

Swissquote have been listed on the Swiss Market Exchange for over 15 years have global offices including London, Hong Kong and Dubai and employ over 500 staff. They are a member of the Swiss Bankers Assoication and are also regulated by the Swiss Financial Market Supervisory Authority. Opening an account with Swissquote trading platform will grant you access to a premium financial information and analysis to keep in permanent touch with the markets.

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including indices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

For more information about trading with City Index, we have put together an indepth City Index review with some of the pros and cons about this broker.

Popular comparisons

Popular comparisons feat. Pepperstone

Pepperstone Alternatives

Pepperstone vs IC Markets
Pepperstone vs XM
Pepperstone vs Oanda
Pepperstone vs IG
Pepperstone vs HotForex

Popular comparisons feat. Swissquote

Swissquote Alternatives

Swissquote vs Dukascopy
Swissquote vs XM
Swissquote vs Plus500
Swissquote vs IG
Swissquote vs Saxo Capital Markets

Popular comparisons feat. City Index

City Index Alternatives

City Index vs IG
City Index vs CMC Markets
City Index vs Plus500
City Index vs Forex.com
City Index vs IC Markets

Pepperstone or Swissquote?

ECN execution or low spreads?

If you’re a trader looking for a broker that offers ECN execution (as opposed to a market maker), Pepperstone is likely the better choice. However, if you want a broker with lower spreads on currency pairs like EUR/USD, Swissquote may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider Pepperstone and Swissquote to be equally reliable. We’ve broken down why below:

Who are they regulated by?

Pepperstone is regulated by Financial Conduct Authority,UK and ASIC, while Swissquote is regulated by Financial Conduct Authority.

As the Financial Conduct Authority are one of the most stringent regulators in the world, both Pepperstone and Swissquote will have very strict guidelines to follow to ensure they protect their retail trader clients.

City Index are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Pepperstone has been around for 9 years, while Swissquote have been around for 20 years. Our third alternative broker, City Index, have been around for 36 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both Pepperstone and Swissquote use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on Pepperstone or Swissquote in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both Pepperstone and Swissquote are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Pepperstone are based in Melbourne, Australia, while Swissquote are based in Chemin de la Cretaux 33, 1196 Gland, Switzerland .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Pepperstone and Swissquote offer forex trading. Swissquote have a slightly larger variety of currency pairs with 138 pairs, compared to 70 offered by Pepperstone. Also, if you’re looking to trade cryptocurrencies, Pepperstone offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both Pepperstone and Swissquote allow you to trade commodities like gold, silver and crude oil.

Pepperstone and Swissquote both offer social trading, which is a modern approach to trading that allows you to follow like-minded traders, copy their trading activity, and engage in discussion around trading strategies.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both Pepperstone and Swissquote offer this. Both brokers also offer the new & improved MT5 platformOur alternative broker, City Index, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. City Index, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Pepperstone does allow scalping and hedging. While Swissquote also allows scalping and hedging. You can trade with EAs (expert advisors) on both Pepperstone and Swissquote.

In terms of risk management tools, Pepperstone does offer negative balance protection to prevent you owing your broker more than you’ve deposited, but Swissquote doesn't offer this.

Pepperstone also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

Pepperstone accept Paypal while Swissquote accept Payoneer.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Pepperstone charges 0.00 points, while Swissquote charges 0.80 points. Therefore, Pepperstone is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Pepperstone or Swissquote?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Swissquote is more reliable based on our criteria above. Swissquote has a wider range of instruments to trade. Swissquote offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.