Written by ForexBrokers.com
In this head to head comparison of FOREX.com vs City Index, 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.
FOREX.com and City Index are both esteemed online brokers with long-standing market presence, established in 1999 and 1983 respectively. Both are publicly traded and not banks, enhancing transparency for traders. Each broker holds seven Tier-1 licenses, a reflection of their strong regulatory standing and adherence to high trust standards as per ForexBrokers.com. Moreover, each holds one Tier-2 license, contributing further to their trusted status.
In terms of overall trust, FOREX.com and City Index both achieve the maximum ForexBrokers.com Trust Score of 99 out of 99, indicating a highly trusted reputation in the online trading industry. Their equivalent trust ratings and regulatory credentials make them reliable choices for traders seeking secure and reputable platforms.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| Year Founded | 1999 | 1983 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 7 | 7 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing FOREX.com and City Index in terms of commissions and fees, both platforms offer competitive pricing structures with distinct advantages. FOREX.com, which ranks #13 out of 63 brokers and receives a 4.5-star rating for its commissions and fees, is known for its variety of account types and transparent execution statistics. However, its costs can be higher for traders operating within the U.S., with standard account spreads on the EUR/USD averaging 1.4 pips as of July 2023. To attract more active traders, FOREX.com offers a RAW Spread account option, featuring competitive spreads as low as 0.13 pips and offering rebates up to $9 per million for high volume trades.
City Index, slightly behind FOREX.com with a #14 ranking but also holding a 4.5-star rating, provides pricing that aligns with industry norms. Its appeal includes a Premium Trader account for deposits exceeding £10,000, which offers exclusive pricing and customer service perks. The CFD account at City Index presents average spreads on the EUR/USD of 0.74 pips, also typical for the industry. Additionally, professional traders in the U.K. and Australia can benefit from active trading rebates, with U.K. rebates starting at £4 per million and potentially reaching up to £7.5 per million, whereas Australian rebates range from AUD $4.5 to $14.5 per million depending on traded volumes.
In summary, both FOREX.com and City Index offer strong options for traders, with FOREX.com providing lower entry spreads on specialized accounts but with a slightly higher cost unless trading in significant volumes. City Index gives traders straightforward industry-average pricing with opportunities for reductions through high-volume rebates, which might appeal to traders seeking simplicity and potential savings on larger trades.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| Minimum Deposit | $100 | £100.00 |
| Average Spread EUR/USD - Standard | 1.4 | 1.4 |
| All-in Cost EUR/USD - Active | 0.9 | 0.74 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment options at FOREX.com and City Index, both platforms offer forex trading in the forms of CFD (Contract for Difference) and spot contract. However, City Index stands out by providing a more extensive selection of tradeable symbols, boasting 13,500 compared to FOREX.com's 5,500. On the other hand, FOREX.com offers a slightly broader range of tradeable forex pairs, with 80 pairs available compared to City Index's 66. Despite these differences, neither platform allows trading in exchange-traded securities from U.S. or international exchanges. Additionally, while both brokers offer cryptocurrency derivatives, neither supports purchasing actual cryptocurrencies directly.
For those interested in copy trading, City Index provides this feature, unlike FOREX.com. Both platforms receive high praise for their range of investments, each earning a five-star rating in this category. In terms of rankings by ForexBrokers.com, FOREX.com holds the #7 spot, just ahead of City Index at #8, when judged among 63 brokers. Overall, traders looking for a wide spectrum of investment avenues will find compelling options with both platforms, but specific preferences might sway some toward City Index for its higher number of tradeable symbols and copy trading capabilities.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 13500 |
| Forex Pairs (Total) | 80 | 66 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| 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.
FOREX.com and City Index both excel in providing traders with diverse platform options, each brandishing their proprietary platforms alongside popular choices like MetaTrader 4. FOREX.com steps ahead by also offering MetaTrader 5, which City Index lacks. Both brokers cater to various trader needs with desktop downloads for Windows and user-friendly web-based platforms. Moreover, they support simulated trading with free virtual demo accounts, ideal for beginners to practice without financial risk. While both platforms deliver extensive charting tools, including 239 drawing tools and the ability to trade directly from stock charts, City Index uniquely provides copy trading capabilities. However, neither broker supports DupliTrade or ZuluTrade.
On the technical front, FOREX.com offers navigation ease with 20 columns for watch lists compared to City Index's 11, providing more flexibility in tracking favorite instruments. With a trading platform and tools rating of 5 stars, FOREX.com slightly edges out City Index, which is rated 4.5 stars. This is reflected in their rankings, with FOREX.com placing 7th out of 63 brokers in the Trading Platforms and Tools category by ForexBrokers.com, while City Index ranks 11th. Despite these differences, both brokers remain strong contenders in the online trading space, offering powerful tools and features to meet the needs of diverse trader profiles.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 88 |
| Charting - Drawing Tools (Total) | 239 | 239 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 20 | 11 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both FOREX.com and City Index provide great options for traders who use either iPhone or Android devices. They both offer a comprehensive suite of features including stock and forex price alerts, and the ability to synchronize watchlists across your mobile and online accounts. In terms of charting, both platforms offer an impressive 88 technical studies, and allow users to draw trendlines and view their data across multiple time frames such as daily, weekly, or intraday. Additionally, both apps are designed to auto save any drawings you make on stock or forex charts, and allow you to create watchlists with real-time quotes for a seamless trading experience.
In terms of user ratings, FOREX.com and City Index both receive high marks. However, FOREX.com slightly edges out its competitor with a 5-star rating for its mobile trading app, compared to City Index's respectable 4.5 stars. According to ForexBrokers.com, FOREX.com ranks as the third-best in the Mobile Trading Apps category, out of 63 brokers, reflecting its strong reputation among traders. City Index also performs well, securing the ninth spot in the same category. Whether you choose FOREX.com or City Index, you'll have access to a feature-rich mobile trading platform that is well-regarded in the industry.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 88 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When looking into daily market commentary and forex news from reputable sources like Bloomberg and Reuters, both FOREX.com and City Index provide solid offerings. They cater to traders who appreciate a sentimental trading tool, as both platforms supply this feature, which showcases the ratio of long or short positions across various currency pairs. In terms of research tools, both brokers integrate services from Trading Central, enhancing their technical analytics capabilities, although neither employs tools from Autochartist or market research from TipRanks. Despite the lack of Acuity Trading resources, each broker delivers an economic calendar to keep traders aware of significant global events.
In terms of market research, FOREX.com and City Index earn matching research ratings, both receiving 4.5 stars. Their close proximity in rankings, with FOREX.com at 9th place and City Index at 10th among 63 brokers surveyed by ForexBrokers.com, highlights their competitive standing in this arena. This comparison underscores the strong research offerings both brokers bring to the table, equipping traders with vital insights to make informed decisions.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners between FOREX.com and City Index, both platforms stand out as quality choices for novice traders. Each offers a comprehensive educational package that includes over ten articles, videos, and archived webinars focused on forex and CFDs. Additionally, both brokers conduct monthly webinars and provide access to an archive of recorded sessions, allowing users to catch up on past content at their convenience. Specific resources tailored to new traders are abundant, as each platform offers more than ten beginner-focused videos covering various trading topics. Advanced traders aren't left behind either, with both brokers extending their educational offerings to include over ten videos aimed at more experienced audiences.
FOREX.com and City Index both enrich their educational offerings with an investor dictionary that features over fifty key investing terms, making complex financial jargon more approachable. Despite sharing similar offerings in terms of content quantity and quality, users may notice a slight difference in their overall ratings and rankings. Both brokers hold an impressive educational rating of 4.5 stars, yet ForexBrokers.com ranks FOREX.com slightly higher at #4, compared to City Index at #9 among 63 brokers. This minor distinction might sway some towards FOREX.com if educational ranking and prominence are prioritizing factors in their decision-making process. Overall, both platforms equip beginners with extensive resources to enhance their trading knowledge and skills.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 FOREX.com is better than City Index. FOREX.com finished with an overall rank of #5, while City Index finished with an overall rank of #8.
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both FOREX.com and City Index do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
Both FOREX.com and City Index provide multiple options for depositing or withdrawing funds, including ACH and SEPA transfers, PayPal, Visa or Mastercard, and bank wires, though neither support transactions via 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 | FOREX.com | City Index | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | City Index Review |
| Broker Screenshots | FOREX.com | City Index | |
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| Regulation | FOREX.com | City Index | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1999 | 1983 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 7 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | FOREX.com | City Index | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FOREX.com | City Index | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FOREX.com | City Index | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 13500 | |
| Forex Pairs (Total) | 80 | 66 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| 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 | FOREX.com | City Index | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.74 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FOREX.com | City Index | |
|---|---|---|---|
| Minimum Deposit | $100 | £100.00 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | FOREX.com | City Index | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FOREX.com | City Index | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 20 | 11 | |
| Charting - Indicators / Studies (Total) | 88 | 88 | |
| Charting - Drawing Tools (Total) | 239 | 239 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FOREX.com | City Index | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 88 | 88 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FOREX.com | City Index | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FOREX.com | City Index | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FOREX.com | City Index | |
|---|---|---|---|
| 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 | FOREX.com Review | City Index Review |
| Overall | FOREX.com | City Index | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | City Index Review |
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