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 and BlackBull Markets are popular online brokers, each with distinct regulatory profiles. Founded in 1983, City Index is a publicly traded company known for its strong regulatory standing. It boasts seven Tier-1 licenses and one Tier-2 license, contributing to a top Trust Score of 99 out of 99 as per ForexBrokers.com, showcasing a high level of trust and reliability. On the other hand, BlackBull Markets, established in 2014, is not publicly traded but operates under one Tier-1 license. With no Tier-2 licenses, BlackBull Markets has a Trust Score of 78, considered an average risk according to ForexBrokers.com.
Both City Index and BlackBull Markets are not banks, but their regulatory standings offer varying degrees of security for investors. City Index's higher trust ratings stem from its widespread compliance and publicly traded status, making it an appealing choice for those emphasizing regulation. Meanwhile, BlackBull Markets, with its single Tier-1 license, may attract traders comfortable with average risk levels, reflecting its niche in catering to traders who may prioritize other factors such as trading platforms or fees over regulatory reach.
| 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 deliver commissions and fees that sit around the industry average, each earning 4.5 out of 5 stars. In ForexBrokers.com’s Commissions and Fees ranking, City Index places #15 out of 63 brokers, while BlackBull Markets ranks #19 out of 63. On the key EUR/USD pair, City Index’s average spread was 0.74 pips (July 2023), while BlackBull’s Prime account posted a 0.76-pip all-in cost (March 2024), giving City Index a slight edge based on these snapshots.
City Index pricing tends to be most competitive on its own platforms and MetaTrader. Its Premium Trader account (for deposits over £10,000) offers access to exclusive pricing, events, and dedicated support. For high-volume traders, City Index provides rebates: in the U.K., £4 per million starting above £25M monthly volume and up to £7.5 per million above £300M; in Australia, AUD $4.5 to $14.5 per million depending on tier.
BlackBull Markets’ costs depend on account type. The Standard account is commission-free with higher spreads and no minimum deposit. The Prime account requires a $2,000 minimum, charges $3 per side ($6 round turn) per lot, and delivered a 0.16 average spread on EUR/USD for a 0.76-pip all-in cost—making it the better value versus Standard. For very active traders, the ECN Institutional account requires at least $20,000 and lowers commission to $2 per side ($4 round turn).
| Feature |
City Index
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | £100.00 | $0 |
| Average spread (EUR/USD) - Standard account | 1.4 | 0.71 |
| All-in Cost EUR/USD - Active | 0.9 | 0.71 |
| Non-wire bank transfer | Yes | No |
| 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 vs BlackBull Markets: both brokers let you trade forex either as CFDs or spot, and both support copy trading. Each also offers cryptocurrency via CFDs (but not actual coins). The key difference is stock access: BlackBull Markets lets you buy exchange-traded shares on U.S. and international exchanges, while City Index does not offer direct share dealing.
When it comes to product breadth, City Index lists about 13,500 tradeable symbols and 66 forex pairs, while BlackBull Markets offers around 26,000 symbols and 72 forex pairs. Both earn 5 stars for Range of Investments; in ForexBrokers.com’s rankings out of 63 brokers, City Index places #8 and BlackBull Markets ranks #6. If you want direct stock ownership alongside forex and CFDs, BlackBull Markets has the edge; if you’re focused on CFD and spot trading, both are strong choices.
| 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 let you practice with a free demo (paper) account. Each offers a web-based platform and a Windows desktop download, plus MetaTrader 4 (MT4), copy trading, and the ability to place orders directly from charts. City Index also provides its own proprietary platform, while BlackBull Markets does not. If you need MetaTrader 5 (MT5), BlackBull Markets supports MT5, whereas City Index does not.
For Trading Platforms and Tools, ForexBrokers.com rates City Index 4.5 out of 5 stars and ranks it #11 of 63 brokers. BlackBull Markets earns 4 out of 5 stars and ranks #31. Choose City Index if you want an in-house platform alongside web, desktop, and MT4; pick BlackBull Markets if MT5 is a must while keeping access to MT4, copy trading, and both web and desktop platforms.
| 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, along with helpful essentials like price alerts and watchlist syncing between mobile and web. Each app lets you draw trendlines on charts and auto-saves your drawings. Where they differ is charting depth: City Index provides 88 technical studies, while BlackBull Markets offers 30, giving City Index the edge for traders who want more indicators on the go.
In overall quality, City Index earns 4.5 stars and ranks #10 out of 63 brokers for Mobile Trading Apps, while BlackBull Markets scores 4 stars and ranks #33. If you value a higher-rated app and a wider set of charting tools, City Index is likely the better fit. If you mainly need core features with alerts and synced watchlists, BlackBull Markets covers the basics well.
| 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 comparing the market research offerings of City Index and BlackBull Markets, both brokers provide daily market commentary and include an economic calendar to keep traders informed on global news events. City Index sets itself apart with forex news sourced from top-tier suppliers like Bloomberg and Reuters, a sentiment-based trading tool, and the availability of research resources from Trading Central. On the other hand, BlackBull Markets lacks these specific features but does provide valuable technical analysis tools through the popular platform Autochartist, along with a sentiment-based trading tool.
In terms of overall research quality, City Index shines with a 4.5-star rating and a commendable 10th rank out of 63 brokers according to ForexBrokers.com. BlackBull Markets, while slightly behind, garners a solid 4-star rating and ranks 18th. Overall, City Index holds an edge due to its diverse range of high-quality research features, making it a preferred choice for traders seeking comprehensive insights from premium sources.
| 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.
City Index and BlackBull Markets both deliver beginner-friendly forex and CFD education. Each broker offers a library that meets the 10+ piece threshold and runs ongoing client webinars at least once a month. New traders will also find plenty of videos: both brands provide at least 10 beginner-focused videos and at least 10 advanced videos, making it easy to start with basics and move into more complex strategies over time.
City Index earns a higher score for education overall, rated 4.5 out of 5 stars and ranked #9 out of 63 brokers by ForexBrokers.com, while BlackBull Markets holds 4 out of 5 stars and ranks #29. If you’re a beginner seeking a stronger all-around learning experience with frequent webinars and a deep video lineup, City Index stands out. BlackBull Markets remains a solid choice for newcomers who want a sizable set of forex and CFD videos and regular live sessions.
| 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 #24.
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 | 78 |
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City Index vs BlackBull Markets: neither online broker supports buying actual (delivered) cryptocurrencies, but both provide cryptocurrency CFD trading.
City Index vs BlackBull Markets: for deposits and withdrawals, City Index supports ACH/SEPA, PayPal, and bank wires but not Skrill, whereas BlackBull Markets supports Skrill and bank wires but not ACH/SEPA or PayPal; Visa/Mastercard availability is not specified for either broker.
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 | 78 | |
| 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 | 78 | |
| 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 SCA 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 | 0.71 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.71 | |
| 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 | No |
| 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 | 78 | |
| Winner | check_circle | ||
| Review | City Index Review | BlackBull Markets Review |
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