Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare City Index vs Forex.com (GAIN Capital).
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Forex.com (GAIN Capital)'s score is 4.50 stars versus City Index's 4.00 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. City Index and Forex.com (GAIN Capital) both are regulated in a major hub. City Index alongside Forex.com (GAIN Capital) are publicly traded companies. How many currency pairs are available to trade? Forex.com (GAIN Capital) offers its clients access to 84 different currency pairs while City Index has 65 available pairs, a difference of 19.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Both City Index and Forex.com (GAIN Capital) offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Both City Index and Forex.com (GAIN Capital) provide clients with access to 31 total charting tools. City Index and Forex.com (GAIN Capital) offer the same number of indicators (eg, volume), 51.
Overall, both City Index and Forex.com (GAIN Capital) hold a 4.50 star rating. And, when it comes to individual category awards, Forex.com (GAIN Capital) was rated Best in Class - Research and Best in Class - Investor Education in 2018, while City Index was rated none of these.