City Index vs IC Markets Comparison
Weโve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare City Index vs IC Markets.
Can I trust City Index?
City Index is publicly traded, does not operate a bank, and is authorised by seven Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Rier-3 regulator (Average Risk), and one Tier-4 regulator (High Risk). City Index is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), Canadian Investment Regulatory Organization (CIRO), Japanese Financial Services Authority (JFSA), Commodity Futures Trading Commission (CFTC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.
Can I trust IC Markets?
IC Markets is not publicly traded and does not operate a bank. IC Markets is authorised by two Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and two Tier-4 regulators (High Risk). IC Markets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and regulated in the European Union via the MiFID passporting system.
Is City Index good?
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.
Is IC Markets good?
IC Marketsโ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Marketsโ research and education offerings are not as impressive as those offered by industry leaders.
What is the minimum deposit requirement for opening an account with City Index?
To open a trading account with City Index, you'll need to make an initial minimum deposit of ยฃ100.00.
What is the minimum deposit requirement for opening an account with IC Markets?
IC Markets requires a minimum deposit of $200 before you can open an account and start trading.
What funding options does each broker offer?
It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. City Index offers Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw) and PayPal (Deposit/Withdraw) for banking, whereas IC Markets provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).
Does City Index or IC Markets offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that IC Markets offers better pricing overall for traders.
Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.
Is City Index or IC Markets safer for forex and CFDs trading?
At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that City Index holds 7 global Tier-1 licenses, while IC Markets holds 2. City Index holds 1 global Tier-2 licenses, while IC Markets holds 0.
After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that City Index (99) earned a higher Trust Score than IC Markets (84).
Which trading platform is better: City Index or IC Markets?
To compare the trading platforms of both City Index and IC Markets, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, City Index offers a better experience. With research, City Index offers superior market research. Finally, we found City Index to provide better mobile trading apps.
Hereโs what trading platforms are available at City Index:
- Proprietary Platform - Yes
- Web Platform - Yes
- cTrader - No
- DupliTrade - No
- MT4 - Yes
- MT5 - No
- ZuluTrade - No
- TradingView - Yes
Hereโs what trading platforms are available at IC Markets:
- Proprietary Platform - No
- Web Platform - Yes
- cTrader - Yes
- DupliTrade - No
- MT4 - Yes
- MT5 - Yes
- ZuluTrade - Yes
- TradingView - Yes
What about MetaTrader? How about copy trading?
The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both City Index and IC Markets offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. City Index and IC Markets both offer copy trading.
What can I trade with each broker?
City Index provides traders 66 currency pairs (e.g., EUR/USD) compared to IC Markets's 61 available pairs. If you are interested in trading a full range of securities, City Index offers traders access to 13500 tradeable symbols, while IC Markets offers access to 3583 tradeable symbols; so City Index offers 9917 more tradeable symbols than IC Markets.
We found in our testing that City Index offers a more diverse selection of investment options than IC Markets, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative), Social Trading / Copy Trading and Spread Betting. Neither have Cryptocurrency (Physical).
Overall winner: City Index
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We review each brokerโs overall global offering โ a โYesโ 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.