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 FXDD.
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 received a rating of 4.5 stars over FXDD's 4 stars.
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 FXDD are regulated in a major hub. City Index and FXDD are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. City Index offers its clients access to 84 different currency pairs while FXDD has 54 available pairs, a difference of 30.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. Both City Index and FXDD 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. FXDD boasts an offering of 31 charting tools compared to City Index's 25 available charting tools. FXDD trails City Index by 88 total different indicators (for example, moving averages), with City Index offering 139 and FXDD offering 51.
Overall, City Index takes the upper hand with 4 stars over FXDD's 3.5 stars. And, when it comes to individual category awards, neither City Index nor FXDD were rated 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.