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City Index vs IC Markets 2019

ForexBrokers.com | September 19th, 2019

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  3. City Index vs IC Markets Review
Is City Index better than IC Markets? After scoring forex brokers on nearly 100 different variables, City Index is better than IC Markets. Beyond its extensive range of products, multi-asset traders can confidently choose City Index for competitive spreads, premium research tools, and versatile charting including mobile, all under the backing of GAIN Capital, which is one of the largest retail brokers globally.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature City Index IC Markets
Overall 4 4
City Index Review IC Markets Review
70% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature City Index IC Markets
Trust Score 91 72
Year Founded
 1983 2007
Publicly Traded (Listed)
 Yes No
Bank
 No No
Tier-1 Licenses
 3 1
Tier-2 Licenses
 0 0
Tier-3 Licenses
 0 0
Authorised in the European Union
 Yes No

Tier-1 Licenses

Feature City Index IC Markets
ASIC Authorised (Australia)
 Yes Yes
IIROC Authorised (Canada)
No No
SFC Authorised (Hong Kong)
 No No
FSA Authorised (Japan)
 No No
MAS Authorised (Singapore)
 Yes No
FINMA Authorised (Switzerland)
 No No
FCA Authorised (UK)
Yes No
CFTC Registered (USA)
No No

Investments

Feature City Index IC Markets
Forex: Spot Trading
 Yes Yes
Social Trading / Copy-Trading
 Yes Yes
Currency Pairs (Total Forex pairs)
 84 63
CFDs - Total Offered
 4500 41
Cryptocurrency traded as actual
 No No
Cryptocurrency traded as CFD
 Yes Yes
Offering of Investments 4 3
Winner check_circle

Cost

Feature City Index IC Markets
Average Spread EUR/USD - Standard
 0.77 (as of Q3 2018) 1.1 (as of May 18)
All-in Cost EUR/USD - Active
 0.77 (as of Q3 2018) 0.7 (as of May 18)
Active Trader or VIP Discounts
 Yes No
Commissions & Fees 4.5 4
Winner check_circle

Funding

Feature City Index IC Markets
Minimum Initial Deposit
 £100.00 $200
Bank Wire (Deposit/Withdraw)
 Yes Yes
Visa/Mastercard (Credit/Debit)
 Yes Yes
PayPal (Deposit/Withdraw)
 No Yes
Skrill (Deposit/Withdraw)
 No Yes

Trading Platforms

Feature City Index IC Markets
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 Yes

Trading Tools

Feature City Index IC Markets
Virtual Trading (Demo)
 Yes Yes
Alerts - Basic Fields
 Yes Yes
Watchlists - Total Fields
 18 7
Charting - Indicators / Studies (Total)
 139 51
Charting - Drawing Tools (Total)
 25 31
Charting - Trade From Chart
 Yes Yes
Charting - Drawings Autosave
 Yes Yes
Order Type - Trailing Stop
 Yes Yes
Platform & Tools 4 4
Winner check_circle

Mobile Trading

Feature City Index IC Markets
Android App
 Yes Yes
Apple iOS App
 Yes Yes
Trading - Forex
 Yes Yes
Trading - CFDs
 Yes Yes
Alerts - Basic Fields
 Yes Yes
Watch List
 Yes Yes
Watch List Syncing
 Yes No
Charting - Indicators / Studies
 74 30
Charting - Draw Trend Lines
 Yes Yes
Charting - Trend Lines Moveable
 No No
Charting - Multiple Time Frames
 Yes Yes
Charting - Drawings Autosave
 No No
Forex Calendar
 Yes No
Mobile Trading 4 3.5
Winner check_circle

Research

Feature City Index IC Markets
Daily Market Commentary
 Yes Yes
Forex News (Top-Tier Sources)
 Yes No
Weekly Webinars
 No No
AutoChartist
 Yes No
Trading Central (Recognia)
 Yes No
Delkos Research
 No No
Social Sentiment - Currency Pairs
 Yes No
Economic Calendar
 Yes Yes
Research 4 2
Winner check_circle

Education

Feature City Index IC Markets
Has Education - Forex
 Yes Yes
Has Education - CFDs
Yes No
Client Webinars
 Yes No
Client Webinars (Archived)
 Yes Yes
Videos - Beginner Trading Videos
 Yes No
Videos - Advanced Trading Videos
 Yes No
Investor Dictionary (Glossary)
 Yes Yes
Education 4 4
Winner check_circle

Major Forex Pairs

Feature City Index IC Markets
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 No

Overall

Feature City Index IC Markets
City Index Review IC Markets Review
Overall 4 4
Winner check_circle
To find the top fx brokers, the team here at ForexBrokers.com collected over 2,200 data points during a several 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. City Index's score is 4.50 stars versus IC Markets's 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. City Index alongside IC Markets are regulated in a major hub. City Index is a publicly traded company, while IC Markets is not. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. IC Markets trails City Index by 21 total currency pairs (for example, EUR/USD), with City Index offering 84 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. IC Markets offers its clients access to 31 charting tools while City Index has 25 charting tools, a difference of 6. IC Markets trails City Index by 88 total different indicators (for example, moving averages), with City Index offering 139 and IC Markets offering 51.

City Index Review
IC Markets Review

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Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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