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. City Index is a better option with a 4.50 star rating over IC Markets's 4.00 star rating.
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 while IC Markets is not. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. City Index boasts an offering of 84 different currency pairs compared to IC Markets's 63 available pairs.
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. City Index trails IC Markets by 6 total charting tools, with IC Markets offering 31 and City Index offering 25. IC Markets trails City Index by 88 total different indicators (for example, moving averages), with City Index offering 139 and IC Markets offering 51.
Overall, both City Index and IC Markets share a rating of 4.00 stars. And, when it comes to individual category awards, neither City Index nor IC Markets were rated 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.