After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare City Index vs eToro.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. City Index is a better option with a 4.00 star rating over eToro's 3.50 star rating.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. City Index and eToro both are regulated in a major hub. City Index is a publicly traded company, eToro isn't. As far as how many currency pairs are available for trading, here's the answer. eToro trails City Index by 18 total currency pairs (for example, EUR/USD), with City Index offering 65 and eToro offering 47.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. City Index has Meta Trader, eToro doesn't. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. City Index offers its clients access to 31 charting tools while eToro has 14 charting tools, a difference of 17. City Index trails eToro by 15 total different indicators (for example, moving averages), with eToro offering 66 and City Index offering 51.
Overall, City Index boasts 4.50 stars versus eToro's 4.00 stars. And, when it comes to individual category awards, eToro posted awards Best in Class - Customer Service in 2018, while City Index found itself with none of these.