To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare City Index vs IC Markets.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. Both City Index and IC Markets are rated 4.00 stars.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. Both City Index and IC Markets are regulated in a major hub. City Index is a publicly traded company, IC Markets isn't. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. IC Markets trails City Index by 2 total currency pairs (for example, EUR/USD), with City Index offering 65 and IC Markets offering 63.
To round out our comparison of City Index vs IC Markets, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. Both City Index and IC Markets offer Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators 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 boasts 4.50 stars versus IC Markets's 4.00 stars. And, when it comes to individual category awards, both City Index and IC Markets found themselves without awards for 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 in 2018.