Written by ForexBrokers.com
In this head to head comparison of City Index vs Axi, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
City Index and Axi are both well-known online brokers, but they differ in terms of trust and regulation. Founded in 1983, City Index has a long-standing presence in the industry and is publicly traded, enhancing its credibility. It boasts an impressive Trust Score of 99 out of 99 from ForexBrokers.com, reflecting its reputation as a highly trusted platform. City Index holds 7 Tier-1 licenses, making it a top choice for traders who prioritize security. In addition, it holds 1 Tier-2 license, further emphasizing its commitment to compliance and reliability.
In comparison, Axi was founded in 2007 and is not publicly traded. With a Trust Score of 82, Axi is considered a trusted option among users but falls short of City Index's exemplary standing. Axi possesses 2 Tier-1 licenses, indicating a solid level of trustworthiness, along with 1 Tier-2 license. While Axi is a dependable choice for traders, those seeking the highest regulatory credentials might lean towards City Index, given its extensive licensing and top Trust Score rating.
| Feature |
City Index
|
Axi
|
|---|---|---|
| Year Founded | 1983 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
For commissions and fees, City Index and Axi land in different spots. City Index earns 4.5 out of 5 stars and ranks #15 of 63 brokers for this category at ForexBrokers.com, while Axi earns 4 out of 5 stars and ranks #44 of 63. City Index’s pricing for CFDs, forex, and spread betting is in line with the industry average, and you’ll generally find the best rates on City Index’s own platforms or MetaTrader. Axi does not publish average spread data, which makes direct, apples-to-apples comparisons harder.
City Index posts an average EUR/USD spread of 0.74 pips (July 2023), which puts it near the industry average but not among the very lowest-cost providers. Active traders may qualify for the Premium Trader account by depositing more than £10,000, unlocking exclusive pricing, events, content, and dedicated support. There are also volume-based rebates: in the U.K., £4 per million for monthly volumes above £25M, scaling to £7.5 per million above £300M; in Australia, AUD $4.5 per million at tier one up to AUD $14.5 per million at tier three.
Axi’s lack of published average spread figures means you’ll need to review its account terms and trading costs directly to gauge where it stands. That said, its 4-star rating and #44 ranking suggest it trails City Index on overall pricing competitiveness in this review set. If transparent spread data and tiered rebates matter to you, City Index has an edge; if you’re considering Axi, check the specific commissions, swaps, and any discounts available for your account type.
| Feature |
City Index
|
Axi
|
|---|---|---|
| Minimum Deposit | £100.00 | $0 |
| Average Spread EUR/USD - Standard | 1.4 | N/A |
| All-in Cost EUR/USD - Active | 0.74 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
City Index offers a much wider range of markets than Axi. You can trade 13,500 symbols at City Index versus 175 at Axi, and both brokers support forex trading via CFDs. City Index lists 66 currency pairs, while Axi has 65. Neither broker lets you buy actual exchange-traded shares in the U.S. or internationally, and neither supports buying delivered crypto. However, both provide crypto derivatives and copy trading features.
For range of investments, City Index earns 5 stars and ranks #8 out of 63 brokers on ForexBrokers.com, while Axi scores 3.5 stars and ranks #57. In short, City Index is better for traders who want access to many markets, whereas Axi suits those focused on a more compact lineup of CFDs and forex pairs.
| Feature |
City Index
|
Axi
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 175 |
| Forex Pairs (Total) | 66 | 65 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
City Index vs Axi: both brokers offer free demo accounts for paper trading and provide web and Windows desktop platforms. Each supports MetaTrader 4 (MT4), while neither offers MT5 or DupliTrade. City Index adds its own proprietary platform, whereas Axi relies on third‑party platforms and stands out for supporting ZuluTrade for copy trading. Both brokers also let you place trades directly from charts.
When it comes to platform tools, City Index offers many more drawing tools (239 vs 15) and more watchlist fields (11 vs 7), which can help with chart markup and market tracking. Both include popular technical indicators. Overall ratings favor City Index: it earns 4.5 stars and ranks 11th out of 63 brokers for Trading Platforms and Tools, compared with Axi’s 3.5 stars and a 64th‑place ranking. If you want richer charting and workspace controls, City Index is the stronger pick; if you prioritize social‑copy options like ZuluTrade, Axi has an edge.
| Feature |
City Index
|
Axi
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Drawing Tools (Total) | 239 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and Axi both offer iPhone and Android trading apps with price alerts, trendline drawing, multiple chart time frames, and real-time watchlists. The biggest differences show up in charting and syncing: City Index packs 88 technical studies versus Axi’s 30, auto-saves your chart drawings (Axi doesn’t), and syncs watchlists with your web account, while Axi’s watchlists don’t sync between devices. If you value deeper chart tools and seamless cross-device use, City Index stands out; if you need a simpler setup for quick checks and trades, Axi does the basics.
Ratings reflect the gap: City Index earns 4.5/5 stars and ranks #9 out of 63 brokers for Mobile Trading Apps at ForexBrokers.com, while Axi scores 3.5/5 stars and ranks #60. In short, City Index is the stronger choice for power charting and syncing, whereas Axi may suit traders who want a straightforward mobile experience.
| Feature |
City Index
|
Axi
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
City Index vs Axi: For market research, City Index delivers daily market commentary, Trading Central analysis, a trader sentiment tool, and an economic calendar. Both brokers stream forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones and both show long/short positioning across instruments. Axi does not publish daily commentary, and while it lacks Trading Central, it does include Autochartist for technical pattern ideas; City Index does not offer Autochartist.
City Index does not include TipRanks or Acuity Trading; Axi’s access to TipRanks and Acuity was not specified in the data provided. According to ForexBrokers.com, City Index earns 4.5/5 stars for research and ranks #10 out of 63 brokers, while Axi scores 3/5 stars and ranks #56, making City Index the better choice if you want more in-platform analysis and guidance.
| Feature |
City Index
|
Axi
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for aspiring traders, City Index and Axi both offer a wide range of forex and CFD learning materials, ensuring beginners can get started with confidence. Both platforms provide over ten educational pieces each, spanning articles, videos, and webinars, making them solid choices for those looking to learn the ropes of trading. Additionally, each broker hosts online educational webinars monthly, which is a great way for traders to engage and learn in a dynamic setting. Also, both City Index and Axi cater to visual learners with educational videos designed for beginners.
However, City Index stands out with several added features. It offers a searchable archive of past webinars, allowing learners to revisit crucial learning sessions anytime. Additionally, City Index provides over ten advanced educational videos tailored for experienced traders, which Axi currently does not. Both platforms offer an investor dictionary with definitions of at least 50 investing terms, but City Index emerges as the more comprehensive option for educational resources. This is reflected in their ratings, with City Index scoring 4.5 stars for education compared to Axi’s 3 stars, and their respective rankings out of 63 brokers, where City Index ranks 9th and Axi 27th according to ForexBrokers.com.
| Feature |
City Index
|
Axi
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that City Index is better than Axi. City Index finished with an overall rank of #8, while Axi finished with an overall rank of #49.
Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.
| Feature |
City Index
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Axi
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 82 |
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Both City Index and Axi do not offer the ability to buy actual delivered cryptocurrencies, but they do provide the option to trade cryptocurrency derivatives.
City Index provides more flexible payment options compared to Axi, as it supports ACH/SEPA transfers and PayPal for depositing and withdrawing funds, alongside Visa, Mastercard, and bank wires, while Axi also accepts Visa, Mastercard, and bank wires but differs by offering Skrill as an option instead of ACH/SEPA transfers and PayPal.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | City Index | Axi | |
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| Trust Score | 99 | 82 | |
| Winner | check_circle | ||
| Review | City Index Review |
| Broker Screenshots | City Index | Axi | |
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| Regulation | City Index | Axi | |
|---|---|---|---|
| Trust Score | 99 | 82 | |
| Year Founded | 1983 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | City Index | Axi | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | City Index | Axi | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | City Index | Axi | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 175 | |
| Forex Pairs (Total) | 66 | 65 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | City Index | Axi | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | N/A | |
| All-in Cost EUR/USD - Active | 0.74 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | Axi | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | City Index | Axi | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | City Index | Axi | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Drawing Tools (Total) | 239 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | Axi | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | City Index | Axi | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | Axi | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | Axi | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | City Index Review |
| Overall | City Index | Axi | |
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| Trust Score | 99 | 82 | |
| Winner | check_circle | ||
| Review | City Index Review |
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