Written by ForexBrokers.com
In this head to head comparison of City Index vs BlackBull Markets, 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 vs BlackBull Markets: City Index was founded in 1983 and is publicly traded, while BlackBull Markets, founded in 2014, is not publicly traded. Neither company is a bank. As rated by ForexBrokers.com, a Trust Score of 90–99 is highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and under 59 not trusted. City Index scores 99 (highly trusted), whereas BlackBull Markets scores 77 (average risk).
On regulation, City Index holds 7 Tier-1 licenses (considered highly trusted by ForexBrokers.com) and 1 Tier-2 license (trusted). BlackBull Markets holds 1 Tier-1 license and 0 Tier-2 licenses. These credentials, together with their Trust Scores, suggest City Index offers stronger regulatory coverage than BlackBull Markets.
| Feature |
City Index
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 1983 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
City Index and BlackBull Markets both earn 4.5 out of 5 stars for commissions and fees, but they are positioned differently for pricing. City Index is ranked #16 out of 36 brokers by ForexBrokers.com, with trading costs for CFDs, forex, and spread betting that are generally in line with the industry average. Its best pricing is usually available on its own platform or MetaTrader, and active traders may also qualify for rebates, including Premium Trader benefits for deposits over £10,000.
At City Index, the average EUR/USD spread was 0.74 pips as of July 2023, which keeps overall forex costs close to the market average, though not among the cheapest options available. Professional U.K. traders can also receive volume-based rebates starting at £4 per million for monthly trading above £25 million, while Australia-based traders can qualify for rebates from AUD $4.5 per million up to AUD $14.5 per million depending on volume.
BlackBull Markets is ranked higher at #9 out of 36 brokers for commissions and fees, and its pricing is also around the industry average overall. Its Prime account is often the best value choice, with an average EUR/USD spread of 0.16 and an all-in cost of about 0.76 once commission is included. The Standard account has no commission and no minimum deposit, while the Prime account requires a $2,000 deposit and charges $3 per side, and the ECN Institutional account is aimed at active traders with at least $20,000 to deposit and lower commissions of $2 per side.
| Feature |
City Index
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | £100.00 | $0 |
| Average spread (EUR/USD) - Standard account | 1.4 | 1.16 |
| All-in Cost EUR/USD - Active | 0.9 | 0.76 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
City Index and BlackBull Markets both give traders access to forex as CFDs or spot contracts, plus copy trading and cryptocurrency CFDs. Each broker also earns a 5-star rating for range of investments, showing they both offer a strong selection for most everyday traders. City Index lists 13,500 tradeable symbols and 66 forex pairs, while BlackBull Markets offers a larger menu with 26,000 tradeable symbols and 72 forex pairs.
The bigger difference is in share dealing and overall market access. BlackBull Markets lets clients buy actual shares on both U.S. and international exchanges, such as Apple and Vodafone, while City Index does not offer exchange traded securities outside of CFDs. For investors who want a wider choice of markets and the ability to buy real stocks, BlackBull Markets has the edge. This is reflected in ForexBrokers.com’s ranking, where BlackBull Markets places #7 and City Index ranks #8 for range of investments.
| Feature |
City Index
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 26000 |
| Forex Pairs (Total) | 66 | 72 |
| U.S. Stocks (Shares) | No | Yes |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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 and BlackBull Markets both give traders a strong mix of platform choices and tools, including free demo accounts, web and desktop platforms, MetaTrader 4, copy trading, and the ability to place trades directly from charts. City Index also stands out with its own in-house platform, while BlackBull Markets does not offer a proprietary platform. For traders who want more platform variety, BlackBull Markets adds MetaTrader 5, which City Index does not support.
In overall trading platforms and tools ratings, City Index comes out ahead with 4.5 out of 5 stars and a ForexBrokers.com ranking of #11 out of 36 brokers, compared with BlackBull Markets at 4 out of 5 stars and #25. Both brokers cover the essentials well, but City Index has the edge for its built-in platform and slightly higher expert rating, while BlackBull Markets may appeal to traders who want MT5 alongside the other core platform options.
| Feature |
City Index
|
BlackBull Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and BlackBull Markets both offer mobile trading apps for iPhone and Android, and each app includes useful features like price alerts, watchlist symbol syncing, trendline drawing, and auto-saving chart drawings. This means traders can keep track of markets and manage watchlists on the move, with changes syncing between the mobile app and online account for both brokers.
Where City Index stands out is charting depth and overall mobile app performance. Its app offers 88 technical studies, compared with 30 at BlackBull Markets, which may matter for traders who rely on more detailed chart analysis. City Index is also rated higher for mobile trading apps, earning 4.5 out of 5 stars and ranking #9 out of 36 brokers by ForexBrokers.com, while BlackBull Markets holds a 4-star rating and ranks #27.
| Feature |
City Index
|
BlackBull Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, City Index and BlackBull Markets both give traders daily market commentary, a sentiment tool, and an economic calendar to track important news events. Each broker is also rated 4.5 out of 5 stars for research. However, City Index has an edge for news coverage, offering forex news from top sources like Bloomberg, Reuters, and Dow Jones, while BlackBull Markets does not.
The biggest difference is in third-party research tools. City Index includes Trading Central, but not Autochartist, while BlackBull Markets offers Autochartist but not Trading Central. Neither broker provides TipRanks or Acuity Trading tools. In ForexBrokers.com’s Research category, City Index ranks #10 out of 36 brokers, ahead of BlackBull Markets at #17.
| Feature |
City Index
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to education for beginners, both City Index and BlackBull Markets give traders a strong starting point. Each broker offers forex and CFD learning content with at least 10 educational pieces, monthly online webinars, and plenty of video lessons for both beginners and more experienced traders. They are also tied in the Education rating at 4.5 out of 5 stars, which suggests that each platform does a good job of helping new traders build basic knowledge and confidence.
That said, City Index has the edge in overall education quality and reach. ForexBrokers.com ranks City Index #9 out of 36 brokers for Education, while BlackBull Markets is ranked #24. For beginners looking for more structured learning support, City Index may be the better fit, although BlackBull Markets still offers a solid range of useful educational materials and regular webinars.
| Feature |
City Index
|
BlackBull Markets
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 BlackBull Markets. City Index finished with an overall rank of #8, while BlackBull Markets finished with an overall rank of #22.
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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BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 77 |
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City Index vs BlackBull Markets: neither online broker supports buying actual (delivered) cryptocurrencies, but both provide cryptocurrency CFD trading.
Comparing online brokers City Index vs BlackBull Markets: both support ACH/SEPA and bank wire deposits and withdrawals; City Index supports PayPal but not Skrill, while BlackBull Markets supports Skrill but not 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 | BlackBull Markets | |
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| Trust Score | 99 | 77 | |
| Winner | check_circle | ||
| Review | City Index Review | BlackBull Markets Review |
| Broker Screenshots | City Index | BlackBull Markets | |
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| Regulation | City Index | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 99 | 77 | |
| Year Founded | 1983 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | City Index | BlackBull Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | City Index | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | City Index | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 26000 | |
| Forex Pairs (Total) | 66 | 72 | |
| U.S. Stocks (Shares) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | BlackBull Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.4 | 1.16 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.76 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | City Index | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | City Index | BlackBull Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes |
| Trading Tools | City Index | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 88 | 109 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | BlackBull Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | City Index | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | BlackBull Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | City Index | BlackBull Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | City Index Review | BlackBull Markets Review |
| Overall | City Index | BlackBull Markets | |
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| Trust Score | 99 | 77 | |
| Winner | check_circle | ||
| Review | City Index Review | BlackBull Markets Review |
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