Written by ForexBrokers.com
In this head to head comparison of City Index vs FXGT.com, 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 FXGT.com are both online brokerage firms, each with distinct credentials when it comes to trust and regulation. Established in 1983, City Index is a well-established entity that is publicly traded and holds seven Tier-1 licenses, earning it a Trust Score of 99 out of 99 from ForexBrokers.com. This signifies City Index as a highly trusted choice in the trading community.
In contrast, FXGT.com, founded in 2019, is a newer player in the market and is not publicly listed. FXGT.com holds one Tier-1 license and one Tier-2 license, leading to a Trust Score of 69, indicating a higher risk. Neither of these companies operates as a bank, yet their regulatory standings and market presence differ significantly, making City Index the more trusted option based on these parameters.
| Feature |
City Index
|
FXGT.com
|
|---|---|---|
| Year Founded | 1983 | 2019 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
Comparing the commissions and fees between City Index and FXGT.com reveals distinct differences. City Index offers pricing for CFDs, forex, and spread-betting products that is generally in line with industry averages. They provide special benefits to active traders with their Premium Trader account, including potential rebates and dedicated customer service. The average spread on the EUR/USD for a CFD account stands at 0.74 pips as of July 2023. For traders based in the UK and Australia, City Index also offers a tiered rebate system, rewarding higher trading volumes with increased rebates. In terms of rankings, City Index is rated 4.5 stars and placed 14th out of 63 brokers for commissions and fees by ForexBrokers.com.
On the other hand, FXGT.com does not provide specific average spread data for comparison, making it difficult to gauge cost-effectiveness based on typical metrics. This lack of transparency might pose a challenge for potential traders looking for detailed fee structures. As a result, FXGT.com receives a lower star rating of 3.5 stars and ranks 56th out of 63 brokers in the same category according to ForexBrokers.com.
In summary, while City Index offers a clearer and more favorable fee structure with additional benefits for high-volume traders, FXGT.com's lesser-known spread information might not appeal as readily to those seeking a detailed understanding of trading costs. Potential traders should consider these factors based on their individual trading needs and preferences.
| Feature |
City Index
|
FXGT.com
|
|---|---|---|
| Minimum Deposit | £100.00 | $5 |
| 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 | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
In comparing City Index and FXGT.com for their range of investments, it's clear that both platforms cater to forex enthusiasts by offering forex trading through contracts for difference (CFDs) or spot contracts. However, City Index takes the lead, providing an impressive 13,500 tradeable symbols and 66 forex pairs, compared to FXGT.com's 117 tradeable symbols and 53 forex pairs. Neither broker allows clients to buy exchange-traded securities directly from U.S. or international exchanges, and both support copy trading. While neither platform permits the purchase of actual cryptocurrencies, they do offer cryptocurrency derivatives for those interested in such investments.
When it comes to overall investment range ratings, City Index shines with a five-star rating and ranks 8th out of 63 brokers according to ForexBrokers.com, a testament to its diverse offerings. On the other hand, FXGT.com has a three-star rating and is positioned at rank 61, indicating a more limited selection. For traders prioritizing variety, City Index emerges as a strong choice, boasting a broad array of trading options that vastly exceed those of FXGT.com.
| Feature |
City Index
|
FXGT.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 117 |
| Forex Pairs (Total) | 66 | 53 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | 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.
When comparing the trading platforms and tools of City Index and FXGT.com, both brokers offer simulated trading through free virtual demo accounts, allowing users to practice without financial risks. City Index stands out with its proprietary platform carved from in-house expertise, unlike FXGT.com, which does not have its self-developed platform. Both brokers provide Windows-based desktop downloads and web-based platforms, enhancing accessibility from multiple devices. If you're keen on copy trading, both City Index and FXGT.com deliver this feature seamlessly. Additionally, both brokers extend support for the globally popular MetaTrader 4, but FXGT.com goes a step further by offering MetaTrader 5 as well.
Charting tools further differentiate the two with City Index offering a more extensive suite of 239 drawing tools compared to FXGT.com's 23, which can be a significant advantage for in-depth technical analysis. While both platforms allow direct trading from stock charts, City Index provides more comprehensive watchlist customization with 11 fields compared to FXGT.com's 5. These distinctions contribute to City Index receiving a 4.5-star rating for its trading platforms and tools, reflected in its higher ranking at 11th out of 63 brokers on ForexBrokers.com. FXGT.com, rated with 4 stars, comes in at 56th place, showing that while it offers plenty of value, especially with its MetaTrader 5 support, it might lag slightly behind in terms of overall platform versatility and customization.
| Feature |
City Index
|
FXGT.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 37 |
| Charting - Drawing Tools (Total) | 239 | 23 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 5 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of City Index and FXGT.com, both brokers provide comprehensive solutions for on-the-go trading. Each offers apps compatible with iPhone and Android, while also supporting essential features like stock and forex price alerts, the ability to sync watchlists with online accounts, and multiple time frame viewing on charts. Both platforms even allow trendline drawing on stock or forex charts and offer the convenience of auto-saving these drawings.
However, City Index holds a distinct advantage with 88 technical studies available for charting, compared to FXGT.com's 30. Moreover, while both brokers provide real-time quotes for watchlists, City Index receives higher acclaim, boasting a 4.5-star rating for its mobile trading app, whereas FXGT.com holds a 3.5-star rating. This difference is further reflected in their rankings by ForexBrokers.com, where City Index secures the 9th spot among 63 brokers, while FXGT.com is positioned at 58th. This suggests City Index’s mobile app may be better suited for those seeking advanced charting capabilities and a highly rated user experience.
| Feature |
City Index
|
FXGT.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| 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.
City Index and FXGT.com are two online brokers that cater to traders seeking market insights, but they differ significantly in the breadth and depth of their offerings. City Index stands out with an impressive array of research tools, providing daily market commentary and forex news sourced from top-tier providers such as Bloomberg and Reuters. It also includes support from Trading Central's technical analytics, making it a solid choice for traders who prioritize detailed market analysis. Furthermore, City Index offers traders a sentiment-based tool that helps gauge market trends, along with an economic calendar to keep up with global news events. These offerings contribute to its strong research rating of 4.5 out of 5 stars, earning it a commendable 10th place ranking out of 63 brokers on ForexBrokers.com.
In comparison, FXGT.com provides fewer research features, lacking daily market commentary and external news from renowned sources like Bloomberg. It also does not partner with Trading Central for technical research tools. However, it does offer a similar sentiment-based trading tool and an economic calendar, which can be useful for traders focusing on market sentiment and event-driven strategies. Despite these available tools, FXGT.com's research capabilities receive a modest rating of 3 stars, placing it significantly lower at rank 56 in the ForexBrokers.com research category. While both brokers cater to traders looking for market information, City Index clearly delivers a more comprehensive and resource-rich experience.
| Feature |
City Index
|
FXGT.com
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| 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 it comes to educational resources for beginners, City Index excels compared to FXGT.com. City Index offers a wealth of materials focused on forex and CFD education, with more than ten informative pieces like articles, videos, and webinars. Additionally, monthly online webinars aimed at helping clients learn more about trading are provided, along with access to a searchable library of past sessions. For beginners, City Index rounds out its educational offering with over ten videos dedicated specifically to introductory trading topics. Advanced traders aren't left out either, thanks to another set of ten videos aimed at those with more experience. An investor dictionary containing over 50 terms is also part of City Index's comprehensive suite of learning tools. These factors contribute to City Index’s high education rating of 4.5 stars and its ninth-place ranking out of 63 brokers in this category.
On the other hand, FXGT.com does not match City Index's extensive educational resources. While FXGT.com does provide an investor dictionary with over 50 investing terms, the platform falls short in several key areas. It lacks a minimum of ten educational pieces focused on forex or CFD topics and does not offer monthly educational webinars or a searchable archive of past webinars. Additionally, FXGT.com does not provide specific educational videos for beginners or advanced traders as City Index does. Consequently, FXGT.com holds a 3-star rating in education and is ranked 60th among 63 brokers as evaluated by ForexBrokers.com. Thus, for novices seeking to understand the intricacies of trading, City Index offers a more comprehensive educational experience than FXGT.com.
| Feature |
City Index
|
FXGT.com
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 FXGT.com. City Index finished with an overall rank of #8, while FXGT.com finished with an overall rank of #59.
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
|
FXGT.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 69 |
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Both City Index and FXGT.com do not provide options for purchasing actual (delivered) cryptocurrencies, but they do offer the opportunity to invest in cryptocurrency derivatives.
Both City Index and FXGT.com facilitate easy deposits and withdrawals via ACH or SEPA transfers, Visa or Mastercard, and bank wires, but while City Index also supports PayPal transactions, FXGT.com does not; neither broker offers Skrill as a funding option.
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 | FXGT.com | |
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| Trust Score | 99 | 69 | |
| Winner | check_circle | ||
| Review | City Index Review |
| Broker Screenshots | City Index | FXGT.com | |
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| Regulation | City Index | FXGT.com | |
|---|---|---|---|
| Trust Score | 99 | 69 | |
| Year Founded | 1983 | 2019 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | City Index | FXGT.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | No | |
| 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 | FXGT.com | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | FXGT.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 117 | |
| Forex Pairs (Total) | 66 | 53 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | 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 | City Index | FXGT.com | |
|---|---|---|---|
| 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 | Yes |
| Funding | City Index | FXGT.com | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $5 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | City Index | FXGT.com | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | FXGT.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 5 | |
| Charting - Indicators / Studies (Total) | 88 | 37 | |
| Charting - Drawing Tools (Total) | 239 | 23 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | FXGT.com | |
|---|---|---|---|
| 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 | 30 | |
| 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 | City Index | FXGT.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | FXGT.com | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | FXGT.com | |
|---|---|---|---|
| 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 |
| Overall | City Index | FXGT.com | |
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| Trust Score | 99 | 69 | |
| Winner | check_circle | ||
| Review | City Index Review |
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