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Home ‣ Compare ‣ City Index vs iFOREX 2025

City Index vs iFOREX 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of City Index vs iFOREX, 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
iFOREX
3.5/5 Stars Overall
  • Minimum Deposit: $100
  • Trust Score: 75
  • Tradeable Symbols (Total): 750

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

City Index and iFOREX are both established players in the online brokerage industry, with City Index founded in 1983 and iFOREX in 1996. However, they differ significantly in regulatory standing and trust. City Index holds a high position with a ForexBrokers.com Trust Score of 99 out of 99, signifying it as a highly trustworthy platform. In contrast, iFOREX has a Trust Score of 75, placing it in the average-risk category. While City Index is publicly traded, giving it an additional layer of transparency, iFOREX is not listed on any stock exchange.

When it comes to regulatory licenses, City Index showcases its strong regulatory track record with seven Tier-1 licenses and one Tier-2 license. These licenses are considered highly trusted and trusted, respectively, by ForexBrokers.com. On the other hand, iFOREX holds just one Tier-1 license and no Tier-2 licenses. Neither of the brokers is a bank, but City Index's multiple regulatory approvals and public trading status provide users with a sense of security that is not as prominent with iFOREX.

Feature City Index logoCity Index
iFOREX logoiFOREX
Year Founded info 1983 1996
Publicly Traded (Listed) info Yes No
Bank info No No
Tier-1 Licenses info 7 1
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 1

Fees

For commissions and fees, City Index comes out ahead of iFOREX. City Index earns 4.5 out of 5 stars and ranks #15 out of 63 brokers for pricing on ForexBrokers.com, while iFOREX earns 3 out of 5 stars and ranks #62 out of 63. City Index publishes clear spread data and typically charges in line with the industry average, whereas iFOREX does not provide average spread figures, making it harder to compare all-in trading costs.

City Index’s CFD, forex, and spread-betting pricing is competitive, with an average EUR/USD spread of 0.74 pips (July 2023). You’ll usually find the best pricing on City Index’s proprietary platforms or MetaTrader. High-balance clients can apply for the Premium Trader account (deposit over £10,000) to unlock exclusive pricing, events, content, and dedicated support. Active trader rebates are available: in the U.K., professional traders can earn £4 per million when monthly volume exceeds £25M, rising to £7.5 per million above £300M; in Australia, rebates range from AUD $4.5 to AUD $14.5 per million depending on tier.

iFOREX does not publish average spread data, so its exact costs for forex and CFD trading are not easily compared. Reflecting that, its Commissions and Fees score is 3/5 stars with a #62 of 63 ranking, versus City Index’s 4.5/5 and #15 of 63. Traders who prioritize transparent spreads, available rebates, and potential account-based discounts may find City Index the more cost-focused choice.

Feature City Index logoCity Index
iFOREX logoiFOREX
Minimum Deposit info £100.00 $100
Average Spread EUR/USD - Standard info 1.4 info N/A info
All-in Cost EUR/USD - Active info 0.74 info N/A info
Active Trader or VIP Discounts info Yes No
ACH or SEPA Transfers info Yes No
PayPal (Deposit/Withdraw) info Yes Yes
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

City Index vs iFOREX: When it comes to range of investments, City Index offers 13,500 tradeable symbols compared to 750 at iFOREX. Both support forex trading as CFDs or spot contracts, but the pair counts differ: iFOREX lists 88 currency pairs, while City Index offers 66. Outside forex, City Index provides access to a much broader set of markets and products. Both brokers let you trade cryptocurrency derivatives (not actual coins), and neither offers real share dealing on U.S. or international exchanges.

City Index also includes copy trading, while iFOREX does not. In independent testing by ForexBrokers.com, City Index earned 5 stars for Range of Investments and ranked 8th out of 63 brokers, whereas iFOREX received 3.5 stars and ranked 42nd. If you want the widest overall selection, City Index is the stronger choice; if your focus is simply a larger list of forex pairs, iFOREX has a slight edge.

Feature City Index logoCity Index
iFOREX logoiFOREX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 13500 750
Forex Pairs (Total) info 66 88
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes No
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) 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 is the better pick if you want a free practice account—its virtual demo lets you test strategies with no risk, while iFOREX doesn’t offer paper trading. Both brokers have their own in-house platforms, but City Index also supports MetaTrader 4 and provides both a Windows desktop download and a web platform. iFOREX sticks to its proprietary web platform with no Windows desktop and no MT4. Neither broker supports MT5, DupliTrade, or ZuluTrade. For social features, City Index offers copy trading, while iFOREX does not. Both brokers let you place trades directly from a chart.

When it comes to tools, City Index lists 239 drawing tools versus 25 at iFOREX, and its watch lists can show 11 columns compared with 9 at iFOREX. In third-party testing, ForexBrokers.com rates City Index 4.5/5 stars and ranks it 11th out of 63 for Trading Platforms and Tools, while iFOREX earns 4/5 stars and ranks 55th. In short, City Index suits traders who want MT4, copy trading, a desktop platform, and a demo account, whereas iFOREX focuses on a simpler, web-only experience.

Feature City Index logoCity Index
iFOREX logoiFOREX
Virtual Trading (Demo) info Yes No
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes No
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes No
MetaTrader 4 (MT4) info Yes No
MetaTrader 5 (MT5) info No No
DupliTrade info No No
ZuluTrade info No No
Charting - Indicators / Studies (Total) info 88 57
Charting - Drawing Tools (Total) info 239 25
Charting - Trade From Chart info Yes Yes
Watchlists - Total Fields info 11 9

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

Forex trading apps

City Index and iFOREX both offer iPhone and Android trading apps, but City Index packs in far more tools for everyday traders. City Index supports price alerts, synced watchlists across devices, and advanced charting with 88 technical studies, trendline drawing, multiple time frames, and auto‑saved annotations. You can also build watchlists with real-time quotes. By contrast, iFOREX does not include price alerts, synced watchlists, trendline drawing, multi‑time‑frame charts, auto‑save for drawings, or real-time quote watchlists, and it does not list a count for technical studies in its app.

For overall quality, City Index earns 4.5 out of 5 stars and ranks #9 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while iFOREX scores 4 out of 5 stars and ranks #56. If you want richer charting and alerts on mobile, City Index is the stronger pick; if you only need basic on-the-go trading, iFOREX may suffice.

Feature City Index logoCity Index
iFOREX logoiFOREX
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes No
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 88 N/A
Mobile Charting - Draw Trendlines info Yes No
Mobile Charting - Multiple Time Frames info Yes No
Mobile Charting - Drawings Autosave info Yes No
Mobile Watchlist info Yes No

Dive deeper: Best Forex Trading Apps.

Market research

City Index and iFOREX both cover the basics for market research: daily market commentary, Trading Central tools (such as Technical Analytics), sentiment gauges that show long/short positioning, and an economic calendar. City Index goes further with integrated forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, while iFOREX does not. Neither broker includes Autochartist. City Index does not offer TipRanks or Acuity Trading tools; iFOREX’s access to TipRanks or Acuity Trading isn’t specified.

Based on ForexBrokers.com, City Index earns 4.5/5 stars for research and ranks #10 out of 63 brokers, whereas iFOREX scores 3.5/5 stars and ranks #49. If you want premium news alongside standard tools, City Index is the stronger pick; if you only need commentary, sentiment, and Trading Central, iFOREX covers those essentials.

Feature City Index logoCity Index
iFOREX logoiFOREX
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes No
Autochartist info No No
Trading Central (Recognia) info Yes Yes
Social Sentiment - Currency Pairs info Yes Yes
TipRanks info No
Signal Centre (Acuity Trading) info No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

When comparing the educational resources available for beginners at City Index and iFOREX, City Index clearly provides a more comprehensive offering. City Index excels by providing numerous educational materials, including a minimum of 10 pieces focused on forex or CFDs, along with monthly online educational webinars and a searchable archive of past webinars. Beginners looking to deepen their knowledge can also access over 10 beginner-friendly trading videos and an impressive range of advanced videos, plus an investor dictionary with over 50 terms. This extensive array of resources earns City Index a 4.5-star rating for education, securing its position at the ninth spot out of 63 brokers ranked by ForexBrokers.com.

On the other hand, iFOREX falls short with limited educational options. While it offers at least 10 beginner trading videos, it lacks a variety of other important educational tools. There are no regularly scheduled webinars, archived webinars, or a comprehensive investor dictionary. Additionally, iFOREX does not provide advanced educational videos for experienced traders, resulting in a lower education rating of 3.5 stars and a rank of 53 out of 63 brokers, according to ForexBrokers.com. For beginners seeking an enriched learning experience, City Index offers a broader and more valuable educational platform compared to iFOREX.

Feature City Index logoCity Index
iFOREX logoiFOREX
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes No

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 iFOREX. City Index finished with an overall rank of #8, while iFOREX finished with an overall rank of #52.

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
iFOREX logoiFOREX
Overall Rating info 5/5 Stars 3.5/5 Stars
Trust Score info 99 75
Range of Investments 5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 3/5 Stars
Platforms & Tools 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3/5 Stars

FAQs

Can you trade cryptocurrency with City Index or iFOREX?

Both City Index and iFOREX do not offer the ability to buy actual, delivered cryptocurrency, but they do provide options to purchase cryptocurrency derivatives.

What funding options does each broker offer?

When comparing online brokers City Index and iFOREX, City Index supports ACH or SEPA transfers, PayPal, Visa/Mastercard, and bank wires for transactions, while iFOREX supports PayPal, Skrill, Visa/Mastercard, and bank wires, lacking ACH or SEPA options but including Skrill which is not available with City Index.

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Overall Rating City Index iFOREX
Overall Rating info 5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 3/5 Stars
Range of Investments 5/5 Stars 3.5/5 Stars
Platforms & Tools 4.5/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Education 4.5/5 Stars 3/5 Stars
Trust Score info 99 75
Winner check_circle
Review City Index Review
Broker Screenshots City Index iFOREX
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.
Regulation City Index iFOREX
Trust Score info 99 75
Year Founded info 1983 1996
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 1
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 1
Tier-1 Licenses (Highly Trusted) City Index iFOREX
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
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 iFOREX
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info
Investments City Index iFOREX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 13500 750
Forex Pairs (Total) info 66 88
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes No
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) 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 iFOREX
Average Spread EUR/USD - Standard info 1.4 info N/A info
All-in Cost EUR/USD - Active info 0.74 info N/A info
Active Trader or VIP Discounts info Yes No
Inactivity Fee info Yes No
Execution: Agency Broker info No No
Execution: Market Maker info Yes Yes
Funding City Index iFOREX
Minimum Deposit info £100.00 $100
PayPal (Deposit/Withdraw) info Yes Yes
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes No
Trading Platforms City Index iFOREX
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes No
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes No
MetaTrader 4 (MT4) info Yes No
MetaTrader 5 (MT5) info No No
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools City Index iFOREX
Virtual Trading (Demo) info Yes No
Alerts - Basic Fields info Yes No
Watchlists - Total Fields info 11 9
Charting - Indicators / Studies (Total) info 88 57
Charting - Drawing Tools (Total) info 239 25
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes No
Mobile Trading City Index iFOREX
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes No
Mobile Watchlist info Yes No
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 88 N/A
Mobile Charting - Draw Trendlines info Yes No
Mobile Charting - Multiple Time Frames info Yes No
Mobile Charting - Drawings Autosave info Yes No
Mobile Economic Calendar info Yes No
Research City Index iFOREX
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes No
Autochartist info No No
Trading Central (Recognia) info Yes Yes
TipRanks info No
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education City Index iFOREX
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes No
Major Forex Pairs City Index iFOREX
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review City Index Review
Overall City Index iFOREX
Overall Rating info 5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 3/5 Stars
Range of Investments 5/5 Stars 3.5/5 Stars
Platforms & Tools 4.5/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Education 4.5/5 Stars 3/5 Stars
Trust Score info 99 75
Winner check_circle
Review City Index Review
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