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 ETX Capital .
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 4.5 star rating over ETX Capital 's 4 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 alongside ETX Capital are regulated in a major hub. City Index is a publicly traded company, while ETX Capital is not. As far as how many currency pairs are available for trading, here's the answer. ETX Capital trails City Index by 25 total currency pairs (for example, EUR/USD), with City Index offering 84 and ETX Capital offering 59.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. City Index and ETX Capital both offer Meta Trader. 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 trails ETX Capital by 6 total charting tools, with ETX Capital offering 31 and City Index offering 25. City Index offers its clients access to 139 different indicators (for example, volume) while ETX Capital has 51 available indicators, a difference of 88.
Overall, City Index comes out on top with 4 stars over ETX Capital 's 3.5 stars. And, when it comes to individual category awards, unfortunately, neither City Index nor ETX Capital received awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.