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 FXDD.
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. Both City Index and FXDD hold a 4.00 star rating.
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 is regulated in a major hub, while FXDD is not. City Index is a publicly traded company, FXDD isn't. How many currency pairs are available to trade? FXDD trails City Index by 11 total currency pairs (for example, EUR/USD), with City Index offering 65 and FXDD offering 54.
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 FXDD 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 brokers offer clients access to the same number of charting tools, 31. Both brokers offer clients access to the same number of indicators (eg, moving averages), 51.
Overall, City Index comes out on top with 4.50 stars over FXDD's 4.00 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.