Which is better for scalping, Pepperstone or City Index?
Verdict
- For scalping we prefer Pepperstone: Razor on cTrader costs $6 per round-turn EUR/USD lot at the minimum spread ($7 at the 0.1-pip average), against about $7 at City Index's 'from 0.7 pips'.
- Pepperstone publishes execution figures, fills from 50 milliseconds with a 99.32% fill rate and no dealer intervention, and supports cTrader, MT4, MT5 and API trading.
- City Index now trades as StoneX Trading (StoneX Financial Ltd, FCA 446717) and offers MT4, TradingView and its own platforms.
- Neither firm's scalping policy is in our verified data; confirm it in the client terms before you start.
Scalping lives or dies on cost per round trip and fill quality, because you pay them dozens of times a day. On both measures Pepperstone publishes more, and its numbers are lower.
Why Pepperstone suits scalpers
Pepperstone's Razor account has a fixed commission and a raw spread, so your round-trip cost barely changes from trade to trade. On cTrader the FX commission is $3.00 per side, the lowest of Pepperstone's platforms; MT4, MT5 and TradingView work out at $7 per round turn. cTrader Automate (C# cBots), MetaTrader expert advisors and API trading cover automated scalping, and free VPS hosting is available to eligible and professional clients.
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Cost of 50 EUR/USD round trips
A scalper doing 50 one-lot round trips a day, at $10 a pip. StoneX's figure is a minimum; Pepperstone's average line is the more realistic one.
| Account | Cost per lot | 50 lots |
|---|---|---|
| Pepperstone Razor, cTrader (0.0 minimum) | $6 | $300 |
| Pepperstone Razor, cTrader (0.1 average) | $7 | $350 |
| Pepperstone Razor, MT4/MT5 (0.1 average) | $8 | $400 |
| StoneX Trading (from 0.7 pips) | $7 | $350 |
Execution and platform
- Pepperstone: fills from 50 ms, 99.32% fill rate, no dealer intervention (trades from 1 January to 31 March 2026, as Pepperstone states).
- StoneX: Web Trader, mobile apps, MT4 and TradingView; execution figures not in our data.
- Pepperstone offers cTrader, with the lowest Razor commission of its platforms; StoneX doesn't list cTrader.
Before you scalp at either broker
- Read the client terms for any minimum holding time or scalping restrictions; neither policy is in our verified data.
- Measure your real spread at the hours you trade, not the 'from' figure.
- Remember stops at Pepperstone are not guaranteed; StoneX offers guaranteed stops, charged if triggered.
- Start small and compare live fills on both before committing size.
Sources
Costs and execution claims as published by each firm.
Does Pepperstone allow scalping?
Its scalping policy is not in our verified data. Pepperstone supports expert advisors, cBots and API trading; confirm any scalping terms in its client agreement.
Is City Index still available in the UK?
City Index's UK site now redirects to StoneX Trading, run by StoneX Financial Ltd under FCA number 446717.
Which Pepperstone platform is cheapest for scalping?
cTrader, where Razor FX commission is $3.00 per side ($6 round turn) on a USD account, against $3.50 per side on MT4, MT5 and TradingView.
Spread bets and CFDs are complex instruments and carry a high risk of losing money rapidly because of leverage. 73.6% of retail investor accounts lose money when trading spread bets and CFDs with Pepperstone Limited. Consider whether you understand how these products work and whether you can afford to lose your money. This page is general information, not investment advice.