Written by ForexBrokers.com
In this head to head comparison of City Index vs IFC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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.
City Index vs IFC Markets: City Index was founded in 1983 and is publicly traded, while IFC Markets launched in 2006 and is not publicly traded; neither firm is a bank. According to ForexBrokers.com, Trust Scores of 90–99 are highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and under 59 not trusted. City Index scores 99 (highly trusted), whereas IFC Markets scores 73 (average risk).
In terms of regulation, ForexBrokers.com counts seven Tier-1 licenses and one Tier-2 license for City Index, compared with one Tier-1 and no Tier-2 licenses for IFC Markets. Tier-1 licenses are considered highly trusted, and Tier-2 licenses are considered trusted, which helps explain the gap in their Trust Scores.
| Feature |
City Index
|
IFC Markets
|
|---|---|---|
| Year Founded | 1983 | 2006 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 5 |
City Index comes out ahead of IFC Markets on commissions and fees, with a 4.5-star rating and a #16 ranking out of 36 brokers for this category. Its pricing for CFDs, forex, and spread betting is generally in line with the industry average, and traders can often get the best rates on City Index’s own platforms or MetaTrader. The average EUR/USD spread was 0.74 pips as of July 2023, which keeps overall costs competitive, while active traders may also qualify for Premium Trader benefits and rebate discounts if they trade enough volume.
IFC Markets is slightly less competitive on pricing, with a 4-star rating and a #32 ranking out of 36 brokers for commissions and fees. Its average EUR/USD spread is 1.44 pips, which is above the industry average, though active traders may find better value with the ECN account, where the effective spread can drop to about 1.1 pips after commission. A plus for cost-conscious traders is that IFC Markets does not charge inactivity fees, and it also offers active trader discounts.
In short, City Index is the stronger choice for lower overall trading costs, especially for forex traders who want tighter spreads and more rebate options. IFC Markets may still appeal to traders who value no inactivity fees and access to an ECN pricing structure, but it is generally the pricier option of the two.
| Feature |
City Index
|
IFC Markets
|
|---|---|---|
| Minimum Deposit | £100.00 | $1 |
| Average spread (EUR/USD) - Standard account | 1.4 | 1.44 |
| All-in Cost EUR/USD - Active | 0.9 | 1.1 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
City Index offers a wider range of investments than IFC Markets, making it the stronger choice for traders who want more variety. City Index lists 13,500 tradeable symbols and 66 forex pairs, compared with 630 symbols and 49 forex pairs at IFC Markets. Both brokers offer forex trading, copy trading, and cryptocurrency CFDs, but neither lets clients buy actual cryptocurrency or U.S.-listed shares outright.
The main difference is that IFC Markets does offer exchange-traded securities on international exchanges, while City Index does not. Even so, City Index earns a 5-star rating for Range of Investments and is ranked #8 out of 36 brokers by ForexBrokers.com, while IFC Markets has a 3.5-star rating and ranks #31. For traders looking for more markets and more trading opportunities, City Index comes out ahead.
| Feature |
City Index
|
IFC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 630 |
| Forex Pairs (Total) | 66 | 49 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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). |
Dive deeper: Best Copy Trading Platforms.
City Index and IFC Markets both give traders a wide mix of platform choices, including a free demo account, their own in-house platform, a Windows desktop app, a web-based platform, copy trading, and MetaTrader 4. Both also let users place trades directly from charts, which can make order entry quicker and easier. The main difference is that IFC Markets also supports MetaTrader 5, while City Index does not.
When it comes to trading tools, both brokers are rated well, but City Index comes out ahead overall. City Index scores 4.5 out of 5 for Trading Platforms and Tools and ranks #11 out of 36 brokers on ForexBrokers.com, compared with IFC Markets at 4 out of 5 and #29 out of 36. That makes City Index the stronger pick if you want a slightly better platform experience, while IFC Markets still offers a solid range of tools for everyday trading.
| Feature |
City Index
|
IFC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and IFC Markets both make mobile trading easy on iPhone and Android, and each app includes stock or forex price alerts, watchlist syncing with the online account, trendline drawing, and auto-saving for chart drawings. That means traders can move between desktop and mobile without losing track of watchlists or chart work, which is useful for managing trades on the go.
Where City Index stands out is in charting and overall app quality. Its mobile app offers 88 technical studies, compared with 30 at IFC Markets, giving traders more tools for mobile analysis. City Index is also rated higher for mobile trading apps, with 4.5 out of 5 stars and a ForexBrokers.com rank of #9 out of 36 brokers, while IFC Markets holds 4 stars and ranks #34. For traders who want a stronger mobile charting experience, City Index has the edge.
| Feature |
City Index
|
IFC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, City Index has a clear edge over IFC Markets. Both brokers provide daily market commentary, a sentiment tool that shows whether traders are mostly long or short, and an economic calendar with upcoming global events. However, City Index goes further by offering forex news from major sources like Bloomberg, Reuters, and Dow Jones, plus Trading Central research tools that can help with technical and fundamental analysis. IFC Markets does not offer these added news and research features.
This difference is reflected in expert ratings and rankings as well. City Index is rated 4.5 out of 5 stars for research and ranks #10 out of 36 brokers at ForexBrokers.com, while IFC Markets scores 3.5 stars and ranks #30. In simple terms, both brokers cover the basics well, but City Index gives traders more research support and a wider range of market insight tools.
| Feature |
City Index
|
IFC Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners looking for learning tools, City Index comes out ahead of IFC Markets. City Index offers forex and CFDs education with at least 10 learning pieces focused on these topics, plus online educational webinars every month, along with 10+ beginner videos and 10+ advanced videos. IFC Markets also provides beginner and advanced video content, but it does not offer monthly educational webinars and does not appear to meet the same level of forex or CFDs-specific education coverage as City Index.
That difference shows up in the ratings and rankings as well. City Index is rated 4.5 out of 5 for Education and ranks #9 out of 36 brokers at ForexBrokers.com, while IFC Markets is rated 3.5 out of 5 and ranks #25. For new traders who want more structured learning and regular webinars, City Index offers the stronger educational experience.
| Feature |
City Index
|
IFC Markets
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that City Index is better than IFC Markets. City Index finished with an overall rank of #8, while IFC Markets finished with an overall rank of #33.
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
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IFC Markets
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| Overall Rating |
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| Trust Score | 99 | 73 |
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Comparing City Index vs IFC Markets for crypto trading: neither broker lets you buy actual (delivered) cryptocurrencies, but both offer cryptocurrency CFD trading.
Among online brokers, City Index supports ACH/SEPA and PayPal plus bank wire transfers for deposits and withdrawals (no Skrill), while IFC Markets offers bank wire transfers only and does not support ACH/SEPA, PayPal, or Skrill.
Please 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.
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0 of 5| Overall Rating | City Index | IFC Markets | |
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| Trust Score | 99 | 73 | |
| Winner | check_circle | ||
| Review | City Index Review |
| Broker Screenshots | City Index | IFC Markets | |
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| Regulation | City Index | IFC Markets | |
|---|---|---|---|
| Trust Score | 99 | 73 | |
| Year Founded | 1983 | 2006 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | ||
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 5 |
| Tier-1 Licenses (Highly Trusted) | City Index | IFC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | No | ||
| Japan (FSA Authorised) | No | ||
| Singapore (MAS Authorised) | Yes | ||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | ||
| USA (CFTC Authorized) | No | ||
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes |
| Tier-2 Licenses (Trusted) | City Index | IFC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | City Index | IFC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 630 | |
| Forex Pairs (Total) | 66 | 49 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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). |
| Cost | City Index | IFC Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.4 | 1.44 | |
| All-in Cost EUR/USD - Active | 0.9 | 1.1 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | City Index | IFC Markets | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $1 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | City Index | IFC Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | City Index | IFC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | IFC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | City Index | IFC Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | IFC Markets | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | City Index | IFC Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | City Index Review |
| Overall | City Index | IFC Markets | |
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| Trust Score | 99 | 73 | |
| Winner | check_circle | ||
| Review | City Index Review |
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