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 offers pricing for CFDs, forex, and spread betting that is generally in line with the industry average, with the best rates usually available on its proprietary platform or MetaTrader. Its EUR/USD spread averaged 0.74 pips as of July 2023, which keeps costs competitive, though still behind some of the lowest-cost forex brokers. Active traders may also qualify for rebates and discounts, while Premium Trader customers who deposit more than £10,000 can access special pricing, events, content, and dedicated support. City Index is rated 4.5 out of 5 stars for commissions and fees and ranks #16 out of 36 brokers at ForexBrokers.com.
IFC Markets is a little less competitive on pricing overall, with an average EUR/USD spread of 1.44, above the industry average of 1.08. That said, its new ECN account can improve trading costs for active users, with effective spreads around 1.1 pips after commission. Traders may also benefit from the broker’s lack of inactivity fees and the availability of active trader discounts. IFC Markets is rated 4 out of 5 stars for commissions and fees and ranks #33 out of 36 brokers at ForexBrokers.com.
Overall, City Index is the stronger choice for commissions and fees if you want lower typical forex trading costs and better value for frequent trading. IFC Markets can still appeal to active traders, especially through its ECN account and fee-free inactivity policy, but its standard spreads are higher. For most cost-focused traders, City Index comes out ahead in this category.
| Feature |
City Index
|
IFC Markets
|
|---|---|---|
| Minimum Deposit | £100.00 | $1 |
| Average spread (EUR/USD) - Spread-only account | 1.4 | 1.44 |
| All-in Cost EUR/USD - Raw spread account | 0.9 | 1.1 |
| Non-wire bank transfer (Deposit/Withdraw) | 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 much wider range of investments than IFC Markets, with 13,500 tradeable symbols compared with 630. In forex, both brokers support trading through CFDs or spot contracts, but City Index lists 66 currency pairs versus 49 at IFC Markets. City Index also offers copy trading and cryptocurrency CFDs, while neither broker lets you buy actual crypto or exchange-traded securities on U.S. exchanges.
The main difference is that IFC Markets allows clients to buy real shares on international exchanges, which City Index does not. Even so, City Index is rated higher for range of investments, earning 5 stars and ranking #8 out of 36 brokers at ForexBrokers.com, while IFC Markets is rated 3.5 stars and ranked #32. For traders who want more choice overall, City Index has the broader selection.
| 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 plenty of ways to get started and manage trades, including free demo accounts, web and Windows desktop platforms, mobile-friendly access, copy trading, MetaTrader 4, and the ability to place trades directly from charts. Each broker also offers its own in-house platform, which can be helpful for traders who want a more tailored experience without relying only on third-party software.
The main difference is that IFC Markets also supports MetaTrader 5, while City Index does not. That extra platform choice may matter to traders who want more flexibility. Overall, City Index comes out slightly ahead in ForexBrokers.com’s Trading Platforms and Tools review, with a 4.5-star rating and an #11 ranking out of 36 brokers, compared with IFC Markets’ 4-star rating and #30 ranking.
| 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 to access on iPhone and Android, and each app supports stock or forex price alerts, watchlist syncing with the online account, trendline drawing, and auto-saving chart drawings. For everyday mobile use, that means both brokers give traders the core tools they need to track the market and manage watchlists from a phone or tablet.
The main difference is in charting depth and overall app quality. City Index offers 88 technical studies in its mobile app, compared with 30 at IFC Markets, which gives City Index a clear edge for traders who rely on chart analysis. That stronger feature set is reflected in its higher mobile trading apps rating of 4.5 out of 5 stars and a #9 ranking out of 36 brokers, while IFC Markets is rated 4 stars and ranks #35.
| 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 the 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 for upcoming global events. However, City Index also stands out by offering forex news from major sources like Reuters and Dow Jones, plus Trading Central research tools, which IFC Markets does not provide.
This wider mix of research helps explain why 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 is rated 3.5 stars and ranks #31. Neither broker offers Autochartist, TipRanks, or Acuity Trading tools, so City Index’s advantage mainly comes from its stronger news coverage and added third-party analysis.
| 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 #34.
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) - Spread-only account | 1.4 | 1.44 | |
| All-in Cost EUR/USD - Raw spread account | 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 (Deposit/Withdraw) | 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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