Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare City Index vs Dukascopy.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Dukascopy is a better option with a 4.50 star rating over City Index's 4.00 star rating.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. City Index alongside Dukascopy are regulated in a major hub. City Index is a publicly traded company, Dukascopy isn't. How many currency pairs are available to trade? City Index offers its clients access to 65 different currency pairs while Dukascopy has 64 available pairs, a difference of 1.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. City Index alongside Dukascopy offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Both brokers offer clients access to the same number of charting tools, 31. Both City Index and Dukascopy provide clients with access to 51 total indicators (eg, moving averages).
Overall, both City Index and Dukascopy share a rating of 4.50 stars. And, when it comes to individual category awards, Dukascopy was rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Active Trading in 2018, while City Index was rated none of these.