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City Index vs IC Markets 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of City Index vs IC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

City Index
5/5 Stars Overall
  • Minimum Deposit: £100.00
  • Trust Score: 99
  • Tradeable Symbols (Total): 13500
IC Markets
4.5/5 Stars Overall
  • Minimum Deposit: $200
  • Trust Score: 84
  • Tradeable Symbols (Total): 3583

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.

Regulation

When comparing City Index to IC Markets, it's important to highlight their regulatory credentials and trustworthiness. City Index, founded in 1983, holds an impressive seven Tier-1 licenses, marking it as highly trusted by ForexBrokers.com. It also has one Tier-2 license and boasts a perfect Trust Score of 99. Additionally, City Index is publicly traded, providing further transparency and accountability for investors.

IC Markets, established in 2007, holds two Tier-1 licenses, reflecting its reputable standing, and has a Trust Score of 84, placing it in the trusted category. While IC Markets is not publicly traded, it still provides a solid option for traders, though with slightly less oversight compared to City Index. Neither of these brokers is a bank, allowing them to focus solely on trading solutions.

Feature City Index logoCity Index
IC Markets logoIC Markets
Year Founded info 1983 2007
Publicly Traded (Listed) info Yes No
Bank info No No
Tier-1 Licenses info 7 2
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 3

Fees

Comparing commissions and fees, IC Markets tends to be cheaper overall than City Index. IC Markets earns 5 stars and ranks #5 out of 63 brokers for Commissions & Fees, while City Index holds 4.5 stars and ranks #15. On EUR/USD, IC Markets’ Raw accounts can deliver an all-in cost as low as 0.62 pips on cTrader (or 0.72 on MetaTrader), whereas City Index’s average spread is about 0.74 pips, which is around the industry average.

City Index pricing is competitive across CFDs, forex, and spread bets—especially when using its proprietary platforms or MetaTrader. The average EUR/USD spread is 0.74 pips (July 2023). Active traders can lower costs with rebates: in the U.K., professional traders get £4 per million after £25M monthly volume, up to £7.5 per million above £300M; in Australia, tiers range from AUD $4.5 to $14.5 per million. The Premium Trader account (typically for deposits over £10,000) adds exclusive pricing, events, content, and dedicated support. City Index: 4.5 stars, ranked #15/63 for Commissions & Fees.

IC Markets offers three account types: the commission-free Standard account (average EUR/USD spread about 0.62 pips) and two commission-based Raw accounts. The cTrader Raw Spread account charges $3.00 per side per 100,000 units ($6 round turn), while the MT4/MT5 Raw Spread account charges $3.50 per side ($7 round turn). With average raw spreads near 0.02 pips plus commission, the all-in cost comes to about 0.62 pips on cTrader (0.72 on MetaTrader). Pricing varies by platform, account type, and the IC Markets entity (EU, Australia, or Seychelles). High-volume traders (100+ standard lots per month) can qualify for additional discounts. IC Markets: 5 stars, ranked #5/63 for Commissions & Fees.

Feature City Index logoCity Index
IC Markets logoIC Markets
Minimum Deposit info £100.00 $200
Average Spread EUR/USD - Standard info 1.4 info 0.62 info
All-in Cost EUR/USD - Active info 0.74 info 0.62 info
Active Trader or VIP Discounts [DELETED] info
Non-wire bank transfer info Yes No
PayPal (Deposit/Withdraw) info Yes Yes
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) [DELETED] info
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

City Index vs. IC Markets: both brokers let you trade forex as CFDs or spot contracts, and both support copy trading. City Index stands out for sheer variety, offering 13,500 tradeable symbols and 66 currency pairs, compared with IC Markets’ 3,583 symbols and 61 pairs. If having a wide menu of markets matters to you, City Index has the edge.

For direct share ownership (not CFDs), neither broker offers U.S.-listed stocks, but IC Markets does provide access to some international exchange-traded securities, which City Index does not. Both brokers let you trade cryptocurrency derivatives, though you can’t buy actual crypto. Based on ForexBrokers.com’s evaluations, City Index earns 5 stars and ranks #8 out of 63 for Range of Investments, while IC Markets scores 4.5 stars and ranks #26—highlighting City Index’s broader market coverage overall.

Feature City Index logoCity Index
IC Markets logoIC Markets
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 13500 3583
Forex Pairs (Total) info 66 61
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No Yes
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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.

Trading platforms and tools

City Index and IC Markets both offer free demo (paper) trading and support web-based and Windows desktop platforms. City Index provides its own in-house platform in addition to MetaTrader 4 (MT4), while IC Markets focuses on third-party platforms with MT4 and MetaTrader 5 (MT5). Both brokers support copy trading and let you place trades directly from price charts.

In independent testing by ForexBrokers.com, City Index rates higher for trading platforms and tools (4.5/5, ranked 11th of 63) than IC Markets (4/5, ranked 16th). Choose City Index if you want an in-house platform plus MT4; pick IC Markets if MT5 access is important to you. Either way, you can practice strategies first with a simulated account.

Feature City Index logoCity Index
IC Markets logoIC Markets
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info No Yes
DupliTrade [DELETED] info
ZuluTrade [DELETED] info
Charting - Indicators / Studies (Total) info 88 30
Charting - Drawing Tools (Total) [DELETED] info
Charting - Trade From Chart info Yes Yes
Watchlists - Total Fields [DELETED] info

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Comparing mobile trading apps, both City Index and IC Markets offer iPhone and Android apps, price alerts, and watchlists with real-time quotes. City Index holds the edge in third-party evaluations, earning 4.5/5 stars and ranking #9 out of 63 for Mobile Trading Apps on ForexBrokers.com, while IC Markets scores 4/5 stars and ranks #22.

For day-to-day use, City Index is stronger on convenience and charting depth. It syncs watchlists between the mobile app and your online account (IC Markets does not), and its charts include 88 technical indicators versus 30 at IC Markets. Both apps let you draw trendlines and automatically save those drawings, so your annotations stick. If you want richer chart tools and seamless watchlist syncing, City Index is the better fit; if you simply need alerts and core charting on iOS or Android, IC Markets will get the job done.

Feature City Index logoCity Index
IC Markets logoIC Markets
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 88 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info
Mobile Charting - Trendlines Autosave info Yes Yes
Mobile Watchlist info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

When comparing City Index to IC Markets in terms of market research offerings, both brokers provide a solid array of tools and insights to help traders stay informed. Both City Index and IC Markets offer daily market commentary and access to forex news from reputable sources such as Bloomberg and Reuters. Additionally, each broker provides traders with sentiment-based trading tools and offers technical analysis tools from Trading Central. However, a distinction arises with IC Markets providing technical research tools from Autochartist, whereas City Index does not. Neither broker offers market research from TipRanks or tools from Acuity Trading.

City Index takes a slight edge with its additional features and services. Both brokers offer an economic calendar, but City Index secures a higher research rating of 4.5 stars compared to IC Markets’ 4 stars. This is reflected in their rankings by ForexBrokers.com, where City Index holds the #10 spot, outperforming IC Markets, which ranks at #23. For traders prioritizing research and market insights, City Index might be the better choice with its more comprehensive offerings and higher industry rankings.

Feature City Index logoCity Index
IC Markets logoIC Markets
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central (Recognia) info Yes Yes
Client sentiment data info Yes Yes
TipRanks info No No
Signal Centre (Acuity Trading) info No No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

For beginners comparing City Index and IC Markets on education, both brokers deliver plenty of learning options. Each runs ongoing client webinars (at least one per month) and offers a sizable library of videos with at least 10 lessons aimed at beginners, plus at least 10 advanced videos for the next stage of your learning. These resources make it easy to start with the basics and progress to more complex topics at your own pace.

City Index has the edge overall, earning 4.5 stars for Education and ranking #9 out of 63 brokers on ForexBrokers.com, while IC Markets scores 4 stars and ranks #16. Details about whether either broker provides a searchable archive of past webinars, an investor dictionary with 50+ terms, or a broader set of forex/CFD education beyond the confirmed video counts were not specified in the information provided.

Feature City Index logoCity Index
IC Markets logoIC Markets
Education (Forex or CFDs) info
Webinars info Yes Yes
Client Webinars (Archived) [DELETED] info
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) [DELETED] info

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that City Index is better than IC Markets. City Index finished with an overall rank of #8, while IC Markets finished with an overall rank of #20.

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 logoCity Index
IC Markets logoIC Markets
Overall Rating info 5/5 Stars 4.5/5 Stars
Trust Score info 99 84
Range of Investments 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 5/5 Stars
Platforms & Tools 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Education 4.5/5 Stars 4/5 Stars

FAQs

Can you trade cryptocurrency with City Index or IC Markets?

City Index and IC Markets both provide options for trading cryptocurrency derivatives, but neither platform offers the option to purchase actual, delivered cryptocurrency.

What funding options does each broker offer?

For deposits and withdrawals, City Index supports ACH/SEPA transfers and PayPal but not Skrill, while IC Markets lacks ACH/SEPA yet supports PayPal and Skrill; both brokers accept bank wire transfers.

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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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Overall Rating City Index IC Markets
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 5/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4.5/5 Stars 4/5 Stars
Trust Score info 99 84
Winner check_circle
Review City Index Review IC Markets Review
Broker Screenshots City Index IC Markets
Broker Gallery (click to expand) info
City Index MetaTrader 4 mobile trading app City Index web platform trading. City Index web platform research Trading Central City Index educational course advanced.
IC Markets cTrader mobile app charting IC Markets EU cTrader desktop trading platform layout IC Markets webinar IC Your Trade YouTube video series. IC Markets Educational content blog articles.
Regulation City Index IC Markets
Trust Score info 99 84
Year Founded info 1983 2007
Publicly Traded (Listed) info Yes No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 7 2
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 3
Tier-1 Licenses (Highly Trusted) City Index IC Markets
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) City Index IC Markets
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA, FSRA, or SCA Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info
Investments City Index IC Markets
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 13500 3583
Forex Pairs (Total) info 66 61
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No Yes
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 IC Markets
Average Spread EUR/USD - Standard info 1.4 info 0.62 info
All-in Cost EUR/USD - Active info 0.74 info 0.62 info
Inactivity Fee info Yes No
Execution: Agency Broker info No Yes
Execution: Market Maker info Yes Yes
Funding City Index IC Markets
Minimum Deposit info £100.00 $200
PayPal (Deposit/Withdraw) info Yes Yes
Skrill (Deposit/Withdraw) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Non-wire bank transfer info Yes No
Trading Platforms City Index IC Markets
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No Yes
Trading Tools City Index IC Markets
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 88 30
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading City Index IC Markets
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 88 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes
Mobile Research - Economic Calendar info Yes Yes
Research City Index IC Markets
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central (Recognia) info Yes Yes
TipRanks info No No
Client sentiment data info Yes Yes
Economic Calendar info Yes Yes
Education City Index IC Markets
Webinars info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Major Forex Pairs City Index IC Markets
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review City Index Review IC Markets Review
Overall City Index IC Markets
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 5/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4.5/5 Stars 4/5 Stars
Trust Score info 99 84
Winner check_circle
Review City Index Review IC Markets Review
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