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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

City Index offers competitive pricing for trading CFDs, forex, and spread-betting products, aligning with industry averages. However, it slightly trails behind top brokers like Tickmill and FP Markets in forex costs. Traders using City Index's proprietary platforms or MetaTrader can benefit from these costs, and active traders depositing over £10,000 can access the Premium Trader account for exclusive offers. Additionally, City Index provides rebates starting at £4 per million for U.K. professional traders and up to AUD $14.5 per million for Australian traders. With a 4.5-star rating for commissions and fees, City Index ranks #14 among 63 brokers as reviewed by ForexBrokers.com.

IC Markets excels in offering low trading costs with its small effective spreads and low deposit requirements, earning it a 5-star rating and a #5 ranking for commissions and fees. IC Markets provides various account options, including the commission-free Standard account, as well as the Raw Spread and cTrader Raw Spread accounts, which implement commission charges. The cTrader-linked account offers slightly lower commissions compared to the MetaTrader accounts, with a total cost of 0.62 pips on the EUR/USD. Its competitive fees and Best in Class honors make IC Markets a strong contender among brokers.

Both City Index and IC Markets grant attractive options for active traders. City Index offers rebates for those trading above specific volumes, while IC Markets provides discounts to high-volume traders exceeding 100 standard lots monthly. IC Markets boasts one of the lowest spreads among its peers, standing at 0.02 pips for the EUR/USD, further solidifying its status among cost-effective forex brokers under different regulatory entities and platform choices.

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 info Yes Yes
ACH or SEPA Transfers info Yes No
PayPal (Deposit/Withdraw) info Yes Yes
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

City Index and IC Markets both cater to traders with a broad array of investment opportunities, yet they have distinct differences in their offerings. City Index impresses with a massive selection of 13,500 tradeable symbols, including 66 forex pairs, while IC Markets offers 3,583 tradeable symbols with 61 forex pairs. Although both platforms provide forex trading as either CFDs or spot contracts, City Index does not offer exchange-traded securities on U.S. or international exchanges. In contrast, IC Markets allows trading in exchange-traded securities on international exchanges, adding versatility to its portfolio.

When it comes to specialized investment options, both City Index and IC Markets present the ability to trade cryptocurrency derivatives, but neither offers the option to buy the actual cryptocurrencies. For those interested in social trading, both platforms support copy trading features. Evaluating their overall range of investments, City Index is rated 5 stars and stands 8th out of 63 brokers according to ForexBrokers.com, highlighting its extensive investment variety. IC Markets, with a rating of 4.5 stars, ranks 25th in the same category, showcasing a solid, albeit more limited, range of trading opportunities.

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

When comparing the trading platforms and tools offered by City Index and IC Markets, both brokers provide users with robust features, though each has its unique advantages. City Index offers a proprietary platform, a feature not available with IC Markets, which can be appealing to those who prefer a tailored trading experience. Both firms support Windows-based desktop and web-based trading platforms, ensuring accessibility from various devices. For those interested in paper trading to hone their skills, both City Index and IC Markets offer free virtual demo accounts. On the front of copy trading, each broker supports this feature, though IC Markets also integrates with ZuluTrade for additional copy trading options. Further differences emerge with MetaTrader support; City Index provides MT4, while IC Markets supports both MT4 and MT5, appealing to traders favoring the latter's advanced features.

When it comes to charting tools and watch lists, City Index takes a leading role. It offers 239 drawing tools compared to the 15 tools available at IC Markets, enhancing flexibility in chart analysis. Moreover, City Index's watch lists consist of 11 columns, surpassing IC Markets' seven, which assists in better portfolio management. Both brokers, however, excel in enabling direct trading from stock charts. Despite these distinctions, City Index gains a slightly higher rating of 4.5 stars for its trading platforms and tools, as opposed to IC Markets' 4 stars. Finally, ForexBrokers.com ranks City Index at number 11 out of 63 brokers for this category, whereas IC Markets falls slightly behind at number 16, making City Index the more highly regarded choice for many traders seeking innovative trading solutions.

Feature City Index logoCity Index
IC Markets logoIC Markets
Virtual Trading (Demo) info Yes Yes
Proprietary 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 info No No
ZuluTrade info No Yes
Charting - Indicators / Studies (Total) info 88 30
Charting - Drawing Tools (Total) info 239 15
Charting - Trade From Chart info Yes Yes
Watchlists - Total Fields info 11 7
View More

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

Forex trading apps

Both City Index and IC Markets have made strides in mobile trading by offering iPhone and Android apps, ensuring traders can engage with the markets on the go. Both platforms deliver key features such as stock and forex price alerts and the ability to draw trendlines on charts. However, City Index takes the upper hand when it comes to syncing watchlist symbols between its mobile app and the online account, a feature absent in IC Markets. City Index also outshines with a more extensive range of technical studies, providing users with 88 options compared to IC Markets' 30.

City Index also leads in user reviews and ratings, achieving a score of 4.5 out of 5 stars for its mobile trading app, compared to IC Markets' 4-star rating. In a comparison of 63 brokers by ForexBrokers.com, City Index stands at position #9, reflecting its superior mobile app features, while IC Markets is ranked #22. With both platforms supporting multiple time frames and auto-saving drawings, City Index's comprehensive toolkit and syncing capability make it a top choice for traders looking for seamless integration and detailed analysis on mobile devices.

Feature City Index logoCity Index
IC Markets logoIC Markets
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields 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 Yes Yes
Mobile Charting - Drawings 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
Social Sentiment - Currency Pairs 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

When comparing educational resources for beginners between City Index and IC Markets, both online brokers excel in offering a variety of materials focused on forex and CFD trading. Each platform provides more than 10 educational pieces, including articles, videos, and archived webinars, all aimed at enhancing the skills of new traders. Both City Index and IC Markets conduct regular, monthly educational webinars and maintain searchable archives of recorded sessions, allowing users to learn at their own pace.

City Index and IC Markets also supply a substantial selection of beginner and advanced educational videos, catering to traders of all experience levels. Additionally, both brokers offer an investor dictionary with over 50 investment terms, serving as a valuable reference tool. Despite these similarities, City Index holds a slight edge with a 4.5-star education rating, compared to IC Markets' 4-star rating, and ranks #9 out of 63 brokers, while IC Markets ranks #16 according to ForexBrokers.com. This makes City Index a slightly more favored platform for educational content in the trading community.

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

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?

City Index provides ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires for managing account funds, while IC Markets supports PayPal, Skrill, Visa or Mastercard, and bank wires but lacks ACH or SEPA transfer options.




announcementPlease 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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Compare

0 of 5
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
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
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 No No
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 No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
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
Active Trader or VIP Discounts info Yes Yes
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
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes No
Trading Platforms City Index IC Markets
Proprietary 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
DupliTrade info No No
ZuluTrade info No Yes
Trading Tools City Index IC Markets
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 11 7
Charting - Indicators / Studies (Total) info 88 30
Charting - Drawing Tools (Total) info 239 15
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 Alerts - Basic Fields 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 - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile 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
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education City Index IC Markets
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) 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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