menuclose
Back to Main Menu
ForexBrokers.com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money

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

Comparing commissions and fees, IC Markets tends to be cheaper overall than City Index. IC Markets earns 5 stars and ranks #5 out of 63 brokers for Commissions & Fees, while City Index holds 4.5 stars and ranks #15. On EUR/USD, IC Markets’ Raw accounts can deliver an all-in cost as low as 0.62 pips on cTrader (or 0.72 on MetaTrader), whereas City Index’s average spread is about 0.74 pips, which is around the industry average.

City Index pricing is competitive across CFDs, forex, and spread bets—especially when using its proprietary platforms or MetaTrader. The average EUR/USD spread is 0.74 pips (July 2023). Active traders can lower costs with rebates: in the U.K., professional traders get £4 per million after £25M monthly volume, up to £7.5 per million above £300M; in Australia, tiers range from AUD $4.5 to $14.5 per million. The Premium Trader account (typically for deposits over £10,000) adds exclusive pricing, events, content, and dedicated support. City Index: 4.5 stars, ranked #15/63 for Commissions & Fees.

IC Markets offers three account types: the commission-free Standard account (average EUR/USD spread about 0.62 pips) and two commission-based Raw accounts. The cTrader Raw Spread account charges $3.00 per side per 100,000 units ($6 round turn), while the MT4/MT5 Raw Spread account charges $3.50 per side ($7 round turn). With average raw spreads near 0.02 pips plus commission, the all-in cost comes to about 0.62 pips on cTrader (0.72 on MetaTrader). Pricing varies by platform, account type, and the IC Markets entity (EU, Australia, or Seychelles). High-volume traders (100+ standard lots per month) can qualify for additional discounts. IC Markets: 5 stars, ranked #5/63 for Commissions & Fees.

Feature City Index logoCity Index
IC Markets logoIC Markets
Minimum Deposit info £100.00 $200
Average spread (EUR/USD) - Standard account info 1.4 info 0.62 info
All-in Cost EUR/USD - Active info 0.9 info 0.62 info
Non-wire bank transfer info Yes No
PayPal (Deposit/Withdraw) info Yes Yes
Skrill (Deposit/Withdraw) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

City Index vs IC Markets for range of investments: City Index lists about 13,500 tradeable instruments compared with IC Markets’ 3,583. Forex traders get 66 pairs at City Index and 61 at IC Markets, and both brokers support forex (CFD/spot). Both also offer copy trading and let you trade cryptocurrency via CFDs, though neither lets you buy actual crypto.

Stock access differs: neither broker offers real, exchange-traded U.S. shares, but IC Markets does provide access to some international shares, while City Index does not. Reflecting their lineups, ForexBrokers.com rates City Index at 5.0 stars for Range of Investments and ranks it 8th out of 63 brokers, while IC Markets earns 4.5 stars and ranks 26th.

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. Stocks (Shares) info No No
Global Stocks (Non-U.S. Shares) info No Yes
Copy Trading info Yes Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) 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

City Index and IC Markets both offer free demo (paper) trading, Windows desktop downloads, web-based platforms, copy trading, and the ability to place trades directly from charts. City Index also provides a proprietary, in-house platform, while IC Markets relies on third-party platforms. Both support MetaTrader 4 (MT4), and only IC Markets adds MetaTrader 5 (MT5). Across their platforms, traders can use a range of technical indicators and customizable watch lists.

For Trading Platforms and Tools, ForexBrokers.com rates City Index at 4.5 stars (ranked #11 of 63) and IC Markets at 4 stars (ranked #16). Choose City Index if you value an in-house platform alongside MT4 and chart trading; pick IC Markets if MT5 access is a priority, while still getting MT4, web and desktop access, copy trading, and a free demo account.

Feature City Index logoCity Index
IC Markets logoIC Markets
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info No Yes
Charting - Indicators / Studies (Total) info 88 30
Charting - Trade From Chart info Yes Yes

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

Forex trading apps

City Index vs IC Markets: both brokers offer iPhone and Android apps with price alerts, making it easy to track forex and CFDs on the go. A key difference is watchlists—City Index syncs your watchlist between the mobile app and your online account, while IC Markets does not, which may matter if you switch devices often.

For charting, City Index provides 88 technical studies compared with 30 at IC Markets. Both apps let you draw trendlines and auto-save those drawings. Based on our review data, City Index earns 4.5 out of 5 stars and ranks #10 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while IC Markets scores 4 stars and ranks #22. In short, City Index suits traders who want deeper chart tools and synced watchlists, whereas IC Markets covers the essentials for mobile trading.

Feature City Index logoCity Index
IC Markets logoIC Markets
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info Yes No
Mobile Charting - Indicators / Studies info 88 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave 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 (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central info Yes Yes
Client sentiment data info Yes Yes
TipRanks info No No
Acuity Trading info No No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

City Index vs IC Markets for beginner education: both brokers provide forex and CFD learning that’s easy to access. Each runs online client webinars at least once a month and offers at least 10 beginner videos plus at least 10 advanced videos, so new traders can build skills from basic concepts to more advanced strategies.

For recognition and ratings, City Index holds a 4.5/5 Education score and ranks #9 out of 63 brokers on ForexBrokers.com, while IC Markets scores 4/5 and ranks #16. If top-rated education is a deciding factor, City Index has the edge; IC Markets still delivers frequent webinars and a sizable video library for both beginners and experienced traders.

Feature City Index logoCity Index
IC Markets logoIC Markets
Webinars info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos 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?

Online brokers City Index and IC Markets do not offer the ability to buy actual (delivered) cryptocurrency, but both brokers let you trade cryptocurrency via CFDs.

What funding options does each broker offer?

For deposits and withdrawals, City Index supports ACH/SEPA transfers and PayPal but not Skrill, while IC Markets lacks ACH/SEPA yet supports PayPal and Skrill; both brokers accept bank wire transfers.

More Comparisons

City Index vs ActivTrades City Index vs Eightcap City Index vs Swissquote City Index vs XM Group City Index vs XTB City Index vs Spreadex IC Markets vs FP Markets IC Markets vs Charles Schwab IC Markets vs OANDA IC Markets vs BlackBull Markets IC Markets vs HFM IC Markets vs eToro

Show all



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.

Select Brokers

↓×
  • check_box_outline_blankcheck_boxActivTrades
  • check_box_outline_blankcheck_boxAvaTrade
  • check_box_outline_blankcheck_boxBlackBull Markets
  • check_box_outline_blankcheck_boxCapital.com
  • check_box_outline_blankcheck_boxCharles Schwab
  • check_box_outline_blankcheck_boxCity Index
  • check_box_outline_blankcheck_boxCMC Markets
  • check_box_outline_blankcheck_boxEightcap
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxExness
  • check_box_outline_blankcheck_boxFOREX.com
  • check_box_outline_blankcheck_boxFP Markets
  • check_box_outline_blankcheck_boxFXCM
  • check_box_outline_blankcheck_boxFxPro
  • check_box_outline_blankcheck_boxHFM
  • check_box_outline_blankcheck_boxHYCM (Henyep Capital Markets)
  • check_box_outline_blankcheck_boxIC Markets
  • check_box_outline_blankcheck_boxIFC Markets
  • check_box_outline_blankcheck_boxIG
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxIUX
  • check_box_outline_blankcheck_boxOANDA
  • check_box_outline_blankcheck_boxOcta
  • check_box_outline_blankcheck_boxPepperstone
  • check_box_outline_blankcheck_boxPlus500
  • check_box_outline_blankcheck_boxQuestrade
  • check_box_outline_blankcheck_boxSaxo
  • check_box_outline_blankcheck_boxSpreadex
  • check_box_outline_blankcheck_boxSwissquote
  • check_box_outline_blankcheck_boxTickmill
  • check_box_outline_blankcheck_boxTrading 212
  • check_box_outline_blankcheck_boxVantage
  • check_box_outline_blankcheck_boxXM Group
  • check_box_outline_blankcheck_boxXTB

Compare

0 of 5
× City Index
× IC Markets
Sponsored

+ Add Broker

Close Menu ×

navigate_before navigate_next
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
Broker Gallery (click to expand) info
City Index MetaTrader 4 mobile trading app City Index web platform trading. City Index web platform research Trading Central City Index educational course advanced.
IC Markets cTrader mobile app charting IC Markets EU cTrader desktop trading platform layout IC Markets webinar IC Your Trade YouTube video series. IC Markets Educational content blog articles.
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 (FSA Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info
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
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA, FSRA, or SCA Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info
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. Stocks (Shares) info No No
Global Stocks (Non-U.S. Shares) info No Yes
Copy Trading info Yes Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) 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 account info 1.4 info 0.62 info
All-in Cost EUR/USD - Active info 0.9 info 0.62 info
Inactivity Fee info Yes No
Order execution: Agency info No Yes
Order 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
Bank Wire (Deposit/Withdraw) info Yes Yes
Non-wire bank transfer info Yes No
Trading Platforms City Index IC Markets
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No Yes
Trading Tools City Index IC Markets
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 88 30
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 Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info Yes No
Mobile Charting - Indicators / Studies info 88 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes
Mobile Research - Economic Calendar info Yes Yes
Research City Index IC Markets
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central info Yes Yes
TipRanks info No No
Client sentiment data info Yes Yes
Economic Calendar info Yes Yes
Education City Index IC Markets
Webinars info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Major Forex Pairs City Index IC Markets
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
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
arrow_upward

close
navigate_before navigate_next