Written by ForexBrokers.com
In this head to head comparison of City Index vs Eightcap, 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 Eightcap are both reputable online brokers, but they differ in history and trust ratings. Founded in 1983, City Index has established a strong presence in the trading industry. It is publicly traded, although not a bank, and holds 7 Tier-1 licenses, indicating a high level of trust. With a perfect Trust Score of 99 from ForexBrokers.com, City Index stands as a highly trusted broker in the financial market.
In comparison, Eightcap, established in 2009, is privately owned and not publicly traded. Like City Index, it is not a banking institution. While Eightcap holds 3 Tier-1 licenses, reflecting a fair amount of trust, it lacks Tier-2 licenses altogether. It has a Trust Score rating of 85, which suggests it is a trusted but not top-tier option in comparison to City Index. Both brokers offer distinct advantages, but City Index leads in terms of industry trust and regulatory standing.
| Feature |
City Index
|
Eightcap
|
|---|---|---|
| Year Founded | 1983 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing City Index and Eightcap for commissions and fees, City Index provides pricing that aligns with the industry standard for trading CFDs, forex, and spread-betting products. Their best pricing is available through the use of City Index’s proprietary platforms or MetaTrader. For active traders, the Premium Trader account requires a deposit of more than £10,000 and offers exclusive benefits. The average spread for a City Index CFD account on the EUR/USD is 0.74 pips, which matches the industry average but trails behind top brokers like Tickmill. City Index also offers rebates for high-volume traders in the U.K. and Australia, with U.K. rebates starting at £4 per million for over £25 million traded per month, increasing to £7.5 for volumes over £300M. City Index holds a 4.5-star rating for commissions and fees and ranks 14th out of 63 brokers.
Eightcap has two primary account types: the commission-based Raw account and the spread-only Standard account, available across its global entities. The Raw account features an average spread of 0.06 pips, but when the $3.50 per-side commission per trade is included, the overall cost rises to approximately 0.76 pips, just below the industry average of 0.8 pips. Although Eightcap is marginally more expensive than the most affordable forex brokers, it remains competitive in its offerings. Eightcap receives a 4-star rating for commissions and fees and is ranked 26th out of 63 brokers by ForexBrokers.com.
In summary, both City Index and Eightcap provide traders with options suitable for various trading strategies. City Index offers competitive pricing and additional benefits through its Premium Trader account for active traders, whereas Eightcap provides straightforward account choices with slightly higher costs than the lowest-priced brokers. Each brokerage demonstrates its value in the market, with City Index being rated slightly higher and ranked 14th, compared to Eightcap's ranking of 26th by ForexBrokers.com for their commission and fee structures.
| Feature |
City Index
|
Eightcap
|
|---|---|---|
| Minimum Deposit | £100.00 | $100 |
| Average Spread EUR/USD - Standard | 1.4 | 1.0 |
| All-in Cost EUR/USD - Active | 0.74 | 0.76 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| 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 and Eightcap are two online brokers offering forex trading through CFDs or spot contracts. City Index provides access to an impressive 13,500 tradeable symbols, significantly surpassing Eightcap's 800 symbols. In terms of forex pairs, City Index again takes the lead with 66 pairs compared to Eightcap's 56. Both brokers, however, do not offer the capability to purchase exchange-traded securities on notable U.S or international exchanges, such as Apple shares or Vodafone shares, focusing instead on derivatives like cryptocurrency contracts. Copy trading is available with both brokers, but neither supports the purchase of actual cryptocurrencies.
When it comes to the range of investments, City Index emerges as a top choice, earning a 5-star rating. In contrast, Eightcap receives 3.5 stars, reflecting its narrower offering. This difference is further emphasized by their standings on ForexBrokers.com, where City Index ranks at a commendable 8th position out of 63 brokers for its investment range, while Eightcap ranks 40th. Whether you prioritize a broader selection of tradeable symbols or a platform with a competitive ranking, these brokers offer varied offerings catering to different trading preferences.
| Feature |
City Index
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 800 |
| Forex Pairs (Total) | 66 | 56 |
| 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 and Eightcap both provide traders with valuable tools and platforms, catering to a range of trading needs. By offering free virtual demo accounts, both brokers allow users to practice trading in a risk-free environment. When it comes to proprietary platforms, City Index stands out with its in-house developed solution, whereas Eightcap relies on popular third-party platforms. Both brokers support Windows-based desktop downloads and web-based trading, making them accessible whether you're at your desk or on the go. They each feature MetaTrader 4 (MT4), but Eightcap extends its offerings with MetaTrader 5 (MT5), adding an extra layer of flexibility for traders seeking advanced features. Despite differences in proprietary offerings, both brokers provide copy trading options to help mimic successful strategies.
In terms of charting tools, City Index offers a significant advantage with 239 drawing tools compared to Eightcap's 15, giving traders more options for technical analysis. Both brokers support trading directly from stock charts, a feature appreciated for its convenience and efficiency. When it comes to organizing watch lists, City Index also offers more customization with 11 columns for fields, compared to Eightcap's 7. This breadth of features likely contributes to City Index's slightly higher rating of 4.5 stars for Trading Platforms and Tools, compared to Eightcap's 4 stars. Reflecting this, ForexBrokers.com ranks City Index at #11 out of 63 brokers, a considerable leap ahead of Eightcap’s position at #38, showcasing the competitive edge City Index holds in platform and tool offerings.
| Feature |
City Index
|
Eightcap
|
|---|---|---|
| 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 | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| 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.
When it comes to mobile trading apps, both City Index and Eightcap offer convenient options for iPhone and Android users. Both platforms provide capabilities like stock and forex price alerts, multiple time frame views, and the ability to draw trendlines, all essential for active traders on the go. Additionally, each broker allows watchlist symbol syncing between mobile devices and online accounts, ensuring seamless access across different platforms. While either choice will deliver a good experience, City Index offers a larger array of technical studies with 88 options compared to Eightcap's 30, providing more tools for in-depth analysis. Furthermore, both apps automatically save chart drawings, allow watchlist creation with real-time quotes, and ensure continuous engagement with market developments.
When evaluating user satisfaction, City Index edges out Eightcap slightly with a 4.5-star rating against Eightcap's 4-star rating. This preference underscores City Index's broader range of features and user-friendly experience. According to ForexBrokers.com, City Index ranks 9th out of 63 brokers in the Mobile Trading Apps category, whereas Eightcap ranks 38th. This ranking acknowledges City Index's superior offerings for mobile traders who prioritize comprehensive analysis tools and seamless usability. Overall, while both brokers provide solid mobile applications, City Index's superior capabilities and higher user ratings make it a favored choice for many traders.
| Feature |
City Index
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing City Index and Eightcap in terms of market research offerings, both brokers provide daily market commentary and an economic calendar that highlights major global economic events. However, City Index distinguishes itself by offering forex news from top-tier sources such as Bloomberg and Reuters, while Eightcap does not provide this feature. Additionally, City Index includes research tools from Trading Central, enhancing their analytic capabilities, whereas Eightcap lacks this integration. Both brokers offer sentiment-based trading tools to compare long and short positions across various instruments, but neither provides tools from Autochartist or market research from TipRanks and Acuity Trading.
In terms of ratings, City Index secures a commendable position with 4.5 out of 5 stars for research, placing it at #10 among 63 brokers according to ForexBrokers.com. In contrast, Eightcap is rated 3.5 stars and positioned at #39 in the same category. These distinctions highlight City Index's stronger emphasis on delivering comprehensive research tools and high-caliber news sources, making it a preferred choice for traders who prioritize in-depth market insights and expert analysis.
| Feature |
City Index
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners interested in forex or CFDs, City Index and Eightcap both deliver a solid foundation with more than ten educational pieces like articles, videos, and archived webinars. However, City Index shines by hosting monthly live webinars to engage their community in real-time learning, a feature that Eightcap doesn't include in their offering. Both brokers provide a convenient archive of recorded webinars, making it easy for users to learn at their tempo.
City Index also takes the lead with a wide range of educational videos for both beginners and seasoned traders alike, whereas Eightcap focuses primarily on beginner content. Both services offer a comprehensive investor dictionary to decipher common investing terms. In terms of ratings, City Index earns a higher mark at 4.5 stars compared to Eightcap's 3.5 stars, and ranks 9th out of 63 brokers for educational offerings as per ForexBrokers.com. This shows that while both brokers offer valuable resources, City Index provides a more extensive educational toolkit for those looking to deepen their trading knowledge.
| Feature |
City Index
|
Eightcap
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| 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 Eightcap. City Index finished with an overall rank of #8, while Eightcap finished with an overall rank of #38.
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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Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 85 |
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Both City Index and Eightcap provide options for trading cryptocurrency derivatives without offering the ability to purchase actual, delivered cryptocurrency.
In comparing online brokers, City Index stands out with its support for ACH and SEPA transfers, PayPal, Visa or Mastercard, and bank wires, while Eightcap offers PayPal, Skrill, Visa or Mastercard, and bank wires but does not support ACH or SEPA transfers.
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 | Eightcap | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | City Index Review | Eightcap Review |
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| Regulation | City Index | Eightcap | |
|---|---|---|---|
| Trust Score | 99 | 85 | |
| Year Founded | 1983 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | City Index | Eightcap | |
|---|---|---|---|
| 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) | No | No | |
| 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 | Yes |
| Tier-2 Licenses (Trusted) | City Index | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 800 | |
| Forex Pairs (Total) | 66 | 56 | |
| 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 | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.74 | 0.76 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | Eightcap | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| 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 | Eightcap | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | Eightcap | |
|---|---|---|---|
| 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 | Eightcap | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | Eightcap | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | Eightcap | |
|---|---|---|---|
| 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 | Eightcap Review |
| Overall | City Index | Eightcap | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | City Index Review | Eightcap Review |
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