Written by ForexBrokers.com
In this head to head comparison of City Index vs FinecoBank, 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 FinecoBank are prominent online brokers, each with their own strengths in the financial sector. City Index, established in 1983, is a publicly traded entity that is not a bank. It holds an impressive seven Tier-1 licenses, reflecting a high level of trust and credibility. Having earned a flawless 99 Trust Score rating from ForexBrokers.com, City Index stands as a highly trusted broker in the industry.
FinecoBank, founded in 1999, differentiates itself as both a bank and a publicly listed company. Its possession of two Tier-1 licenses contributes to its solid reputation, reflected in its commendable 94 Trust Score. While not as extensive in its licensing as City Index, FinecoBank's status as a bank offers a unique level of financial versatility to its clients. Together, these brokers cater to a range of investor needs, backed by regulatory assurance and industry experience.
| Feature |
City Index
|
FinecoBank
|
|---|---|---|
| Year Founded | 1983 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When considering commissions and fees, City Index stands as a strong contender for traders seeking industry-average pricing for CFDs, forex, and spread-betting products. Users can take advantage of optimal pricing by utilizing City Index's proprietary platforms or MetaTrader. For active traders depositing over £10,000, the Premium Trader account offers exclusive pricing, services, and events. The average spread for a CFD account on the EUR/USD stands at 0.74 pips, aligning with industry norms but trailing behind top competitors like Tickmill and FP Markets. U.K.-based professional traders can benefit from rebates ranging from £4 to £7.5 per million, depending on their monthly trading volume.
By contrast, FinecoBank presents a less transparent picture regarding their commissions and fees due to the absence of published average spread data for forex and CFD trading. While specific spread figures such as 1 pip for the EUR/USD are available, they appear less competitive compared to typical offerings from other forex brokers. Some lower spreads are reported, yet lack clearly defined average values and dates. Despite these concerns, FinecoBank may offer more favorable spreads for their index CFDs, offering potential cost benefits for those particular trades.
When ranked by ForexBrokers.com specifically for commissions and fees, City Index receives a commendable 4.5-star rating, securing the #14 spot out of 62 brokers. FinecoBank, on the other hand, earns a decent 3.5-star rating and is positioned at #50. This comparison highlights City Index's substantially more competitive status in the realm of trading costs compared to FinecoBank.
| Feature |
City Index
|
FinecoBank
|
|---|---|---|
| Minimum Deposit | £100.00 | $0 |
| Average Spread EUR/USD - Standard | 1.4 | N/A |
| All-in Cost EUR/USD - Active | 0.74 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment offerings of City Index and FinecoBank, both brokers provide access to forex trading as either CFDs or spot contracts. However, City Index offers 13,500 tradeable symbols, significantly surpassing FinecoBank's 9,770. This broader range also extends to forex pairs, with City Index providing 66 pairs compared to FinecoBank's 54. Additionally, City Index facilitates copy trading and offers cryptocurrency derivatives, although neither broker allows the purchase of actual cryptocurrencies.
In contrast, FinecoBank offers strong access to exchange-traded securities on U.S. and international markets, allowing users to directly purchase stocks like Apple and Vodafone, which City Index does not support. Despite these differences, City Index achieves a higher rating with 5 stars for its range of investments, ranking 8th out of 62 brokers, while FinecoBank earns 4.5 stars and a 16th-place ranking. Ultimately, the choice between these brokers may hinge on the specific investment options each user prioritizes.
| Feature |
City Index
|
FinecoBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 9770 |
| Forex Pairs (Total) | 66 | 54 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | No |
| 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 FinecoBank both offer a range of trading platforms, catering to different trader needs. City Index stands out with its provision of simulated trading via a free virtual demo account, which is not available with FinecoBank. Both brokers have developed proprietary platforms and provide Windows-based desktop download and web-based browser trading platforms. City Index further distinguishes itself by offering copy trading and compatibility with MetaTrader 4, two features that FinecoBank does not support. While neither broker incorporates MetaTrader 5, DupliTrade, or ZuluTrade into their offerings, City Index excels with a higher number of drawing tools for charting and the ability to trade directly from a stock chart.
When evaluating charting tools, City Index provides 239 drawing tools, significantly surpassing FinecoBank's 7. Additionally, City Index offers 11 columns for watch lists, a feature in which FinecoBank information is unavailable. With these extensive offerings, City Index receives a rating of 4.5 out of 5 stars for its trading platforms and tools from ForexBrokers.com, ranked #10 among 62 brokers. In contrast, FinecoBank holds a 4-star rating and is ranked #18. This comparison highlights City Index as a top choice for traders seeking comprehensive platform features and advanced functionality.
| Feature |
City Index
|
FinecoBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 37 |
| Charting - Drawing Tools (Total) | 239 | 7 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 11 | N/A |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and FinecoBank both offer mobile apps for iPhone and Android devices, providing traders with on-the-go access to stock and forex trading. Both apps send price alerts and allow users to view various time frames for stock and forex charts. City Index, however, stands out by providing 88 technical studies compared to FinecoBank's 6 and offers the ability to draw trendlines directly on charts. FinecoBank lacks the feature to sync watchlist symbols between the mobile app and online account, while City Index supports this, ensuring consistency across platforms.
City Index also allows users to create real-time watchlists and automatically saves drawing annotations on stock and forex charts, features that FinecoBank does not support. When comparing ratings, City Index scores 4.5 out of 5 stars for mobile trading apps, ranked 9th out of 62 brokers by ForexBrokers.com, outpacing FinecoBank, which holds a 4-star rating and a rank of 42. These features and ratings make City Index a preferred choice for traders seeking a more feature-rich mobile trading experience.
| Feature |
City Index
|
FinecoBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 6 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of City Index and FinecoBank, it's evident that City Index holds a stronger position for traders looking for in-depth market insights. City Index provides daily market commentary and access to forex news from top-tier sources such as Bloomberg and Reuters, giving traders valuable daily updates and real-time information. In addition, City Index offers advanced trading tools like sentiment-based analysis and resources from Trading Central, which provide unique insights into market trends and help traders make informed decisions. Their inclusion of an economic calendar further supports comprehensive market tracking.
FinecoBank, while offering some competitive features like forex news from top-tier sources and an economic calendar, lacks several advanced tools provided by City Index. For instance, FinecoBank does not offer daily market commentary, sentiment-based trading tools, or resources from Trading Central, which can be crucial for traders needing deeper analysis. Overall, City Index's research capabilities receive a higher rating with 4.5 stars compared to FinecoBank's 4.0 stars by ForexBrokers.com. Moreover, in a ranking of 62 brokers, City Index places significantly higher at #10, indicating a more extensive and comprehensive market research experience compared to FinecoBank's position at #33.
| Feature |
City Index
|
FinecoBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners eager to learn about forex or CFDs, City Index stands out by providing a more comprehensive educational experience compared to FinecoBank. City Index offers a wide array of educational materials, including over ten pieces focused on forex and CFDs, alongside monthly webinars and a searchable archive of previous recordings, making it easy for newcomers to strengthen their knowledge at their own pace. City Index also delivers a series of beginner educational videos, completing its offerings with advanced content for more experienced traders and an investor dictionary with over 50 terms, ensuring clarity and comprehension for all levels of investors.
FinecoBank, while providing monthly webinars and beginner educational videos comparable to City Index, falls short in other educational aspects. Notably, it lacks a sufficient number of materials specifically focused on forex and CFDs and does not maintain a searchable webinar archive, which might be a limitation for new traders seeking in-depth learning resources. Although FinecoBank offers an investor dictionary similar to City Index, its educational content is less extensive overall. With a 4.0-star rating for education, FinecoBank is ranked 49th in the education category by ForexBrokers.com, compared to City Index's higher rating of 4.5 stars and 9th place ranking.
| Feature |
City Index
|
FinecoBank
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | No |
| 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 62 of the best forex brokers, our research and account testing finds that City Index is better than FinecoBank. City Index finished with an overall rank of #8, while FinecoBank finished with an overall rank of #25.
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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FinecoBank
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 94 |
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City Index allows investors to engage in cryptocurrency trading through derivatives, whereas FinecoBank does not offer cryptocurrency derivatives, and neither broker enables the purchase of actual delivered cryptocurrency.
City Index and FinecoBank both support ACH/SEPA transfers and bank wires for depositing or withdrawing account funds, but City Index also accepts PayPal and credit cards (Visa/Mastercard), an option not available with FinecoBank, while neither broker supports Skrill.
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 | FinecoBank | |
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| Trust Score | 99 | 94 | |
| Winner | check_circle | ||
| Review | City Index Review | FinecoBank Review |
| Broker Screenshots | City Index | FinecoBank | |
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| Regulation | City Index | FinecoBank | |
|---|---|---|---|
| Trust Score | 99 | 94 | |
| Year Founded | 1983 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | City Index | FinecoBank | |
|---|---|---|---|
| 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 | FinecoBank | |
|---|---|---|---|
| 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 | FinecoBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 9770 | |
| Forex Pairs (Total) | 66 | 54 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | No | |
| 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 | FinecoBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | N/A | |
| All-in Cost EUR/USD - Active | 0.74 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | No |
| Funding | City Index | FinecoBank | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | City Index | FinecoBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | FinecoBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 11 | N/A | |
| Charting - Indicators / Studies (Total) | 88 | 37 | |
| Charting - Drawing Tools (Total) | 239 | 7 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | FinecoBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 88 | 6 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | FinecoBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | City Index | FinecoBank | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | FinecoBank | |
|---|---|---|---|
| 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 | FinecoBank Review |
| Overall | City Index | FinecoBank | |
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| Trust Score | 99 | 94 | |
| Winner | check_circle | ||
| Review | City Index Review | FinecoBank Review |
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