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 it comes to trading costs, City Index offers competitive pricing for CFDs, forex, and spread-betting products, aligning with the industry's average. Traders can benefit from better pricing by using City Index's proprietary platforms or MetaTrader. For those who qualify as active traders with deposits exceeding £10,000, the Premium Trader account offers exclusive pricing alongside other perks. The average spread for EUR/USD stands at 0.74 pips, which is average but trails behind the top forex brokers like Tickmill and FP Markets. In the UK, professional traders can receive rebates starting at £4 per million when trading over £25 million per month, with higher rebates for increased volumes. City Index scores an impressive 4.5 stars and ranks #14 out of 63 brokers for commissions and fees.
FinecoBank, conversely, does not provide average spread data for its forex and CFD trading, making a precise evaluation challenging. While Fineco lists a 1-pip spread for EUR/USD, it is not specified as an average, possibly resulting in higher costs compared to typical forex brokers. A 0.8-pip spread is also mentioned, though again without average values or date specifics. On a positive note, FinecoBank may offer more competitive spreads on its index CFDs. However, its overall rating falls at 3.5 stars, and it holds a lower ranking at #51 among 63 brokers in the same category.
| 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.
City Index and FinecoBank both provide investors with the opportunity to trade in the forex market through CFDs or spot contracts, giving users flexibility in how they engage with the foreign exchange market. City Index stands out with a vast array of 13,500 tradeable symbols, surpassing FinecoBank's offering of 9,770. This broad selection includes 66 tradeable forex pairs compared to FinecoBank's 54, showcasing City Index's extensive range of forex options. Additionally, City Index caters to traders interested in crypto with the option to trade cryptocurrency derivatives, a feature not available with FinecoBank. However, FinecoBank offers clients the unique advantage of trading exchange-traded securities on both U.S. and international exchanges, unlike City Index, allowing direct investment in companies like Apple and Vodafone.
While City Index receives a 5-star rating for its range of investments, thanks to its expansive offering and services like copy trading, FinecoBank achieves a commendable 4.5-star rating. Despite its smaller symbol range, FinecoBank's direct access to international securities makes it a viable choice for investors seeking exposure to global markets. Ranking eighth out of 63 brokers by ForexBrokers.com, City Index outshines FinecoBank, which holds the sixteenth spot, underscoring its superior variety of investment options. Each platform offers unique advantages, catering to different investor preferences and priorities.
| 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.
When evaluating City Index and FinecoBank for their trading platforms and tools, there are distinct differences to consider. City Index offers a complimentary virtual demo account for simulated trading, giving newcomers and experienced users alike the opportunity to explore its platform without financial commitment. In contrast, FinecoBank does not provide this feature. Both brokers have developed their own proprietary platforms and provide a range of options for different devices, including Windows desktop downloads and browser-based platforms. However, when it comes to advanced options like MetaTrader 4, City Index has the edge, supporting this widely recognized platform, while FinecoBank does not support it.
City Index offers greater versatility with features like copy trading and advanced charting, boasting 239 drawing tools compared to FinecoBank's 7. Additionally, City Index allows trades directly from stock charts, a feature FinecoBank lacks. Watchlist customization is another area where City Index stands out, offering 11 columns for watch lists. Ratings reflect these differences, with City Index achieving 4.5 stars for trading tools, outranking FinecoBank's 4 stars in this category. According to ForexBrokers.com, City Index's platforms and tools are ranked #11 out of 63 brokers, ahead of FinecoBank which is ranked #18.
| 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.
For traders seeking the best mobile trading experience, City Index and FinecoBank both offer iPhone and Android apps. City Index stands out by providing advanced features, such as the ability to sync watchlist symbols between the mobile app and online account, ensuring convenience for users as they manage their investments. While both brokers offer alerts for stock or forex prices, City Index excels with 88 technical studies available in its app compared to just six from FinecoBank. Additionally, City Index allows users to draw trendlines on charts and automatically saves these, offering a seamless experience. FinecoBank, meanwhile, does not provide these drawing capabilities or auto-save features.
When it comes to chart analysis, both apps let users view multiple time frames like daily, weekly, or intraday, but only City Index combines this with the ability to create custom watchlists with real-time quotes. These extra features might explain why City Index is rated 4.5 stars for its mobile trading app, earning it the #9 spot out of 63 brokers according to ForexBrokers.com. FinecoBank, while a solid choice with a 4-star rating, ranks lower at #42. If comprehensive charting tools and seamless account integration are top priorities for you, City Index might be the more appealing option. However, FinecoBank still provides a reliable trading app for those less focused on these specific features.
| 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 City Index to FinecoBank for market research offerings, City Index stands out with a more comprehensive suite of tools and resources. City Index provides daily market commentary and delivers forex news from reputable sources like Bloomberg and Reuters, while FinecoBank does not offer daily commentary but does provide forex news from similar high-quality sources. Additionally, City Index includes Trading Central’s technical analysis tools and a sentiment-based trading tool, both absent from FinecoBank’s offerings. Despite both platforms offering an economic calendar, the breadth of market research with City Index is reflected in its higher research rating of 4.5 stars compared to FinecoBank’s 4.0 stars.
In a ranking conducted by ForexBrokers.com, which evaluated 63 brokers overall, City Index achieved an impressive 10th place for its research category features, overshadowing FinecoBank, which was ranked 33rd. This higher rank underscores City Index's stronger market research capabilities. While FinecoBank offers several valuable news components, it lacks the depth provided by City Index, making the latter a favorable option for traders seeking extensive research tools and insightful analysis in their trading platforms.
| 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.
City Index and FinecoBank both provide educational resources, but City Index has a wider selection specifically tailored for forex and CFDs learners. City Index offers a comprehensive collection of educational materials, including articles, videos, and archived webinars, which are particularly beneficial for those new to forex and CFDs trading. FinecoBank, on the other hand, does not meet the benchmark for providing such specialized content. Both brokers host monthly client webinars, but City Index enhances accessibility by offering a searchable archive of previously recorded webinars, which FinecoBank lacks.
For beginners, both platforms supply a range of educational videos, yet City Index extends its offerings to advanced traders, providing videos focused on more complex trading topics. A shared feature is their investor dictionaries, which are useful for understanding key investing terms. Ranked #9 out of 63 brokers by ForexBrokers.com for educational offerings, City Index stands out with a 4.5-star rating, compared to FinecoBank's #49 ranking and 4.0-star rating. This distinction highlights City Index's stronger commitment to education for traders at all levels.
| 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 63 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
|
|---|---|---|
| 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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