Written by ForexBrokers.com
In this head to head comparison of IG vs City Index, 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.
IG and City Index are two experienced players in the online brokerage industry, with IG established in 1974 and City Index in 1983. Both companies are publicly traded, with IG also operating as a bank, while City Index does not hold banking status. When it comes to regulatory trust and oversight, both brokers share a top Trust Score of 99 out of 99 from ForexBrokers.com, indicating they are highly trusted. However, IG holds a slight edge in regulatory authority with 8 Tier-1 licenses compared to City Index's 7, signaling a marginal lead in the highest level of trust. Additionally, IG boasts two Tier-2 licenses, whereas City Index holds one.
These distinctions highlight IG's slightly broader regulatory coverage, though both brokers remain highly rated and recognized for their reliability. For those considering trading with either, these regulatory credentials may offer peace of mind, though IG's status as a bank might also appeal to those seeking more integrated financial offerings. Ultimately, both brokers demonstrate long-standing stability and reliability in the world of online trading.
| Feature |
IG
|
City Index
|
|---|---|---|
| Year Founded | 1974 | 1983 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 7 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing online brokers IG and City Index regarding commissions and fees, IG takes a prominent position, especially for active traders. With a five-star rating, IG ranks #8 out of 63 brokers in this category according to ForexBrokers.com. IG offers competitive pricing through its Forex Direct accounts and scalable execution, appealing to those dealing with large orders. In July 2023, IG's average spreads for its Forex Direct account on the EUR/USD were 0.62 pips, factoring a commission of 0.2 pips for an all-in cost of 0.82 pips. This is competitive within the industry, although not as discounted as some brokers. Additionally, IG provides active trader rebates in its CFD accounts, where professional traders in the EU can enjoy up to 20% off spreads, lowering costs significantly for high-volume traders.
Conversely, City Index offers pricing that aligns with the industry average, earning a solid 4.5-star rating and ranking #14 among 63 brokers. City Index's CFD account provided an average spread of 0.74 pips on the EUR/USD in July 2023. For those depositing over £10,000, the Premium Trader account offers exclusive perks, including premium pricing and customer service. Active traders based in the U.K. can benefit from rebates starting at £4 per million traded, with higher volumes seeing up to £7.5 per million. This structure, while competitive, does not reach the extensive rebate benefits that IG offers, particularly for those in regions where IG's premium program applies.
Overall, both IG and City Index offer robust options for traders, but IG's edge in pricing and comprehensive rebate programs makes it particularly appealing to those engaging in high-volume trading. While City Index provides solid industry-standard rates and some advantages with its Premium Trader account, serious high-frequency traders might find IG's offerings, combined with its premium service tiers, more suited to significant market activities.
| Feature |
IG
|
City Index
|
|---|---|---|
| Minimum Deposit | £250.00 | £100.00 |
| Average Spread EUR/USD - Standard | 0.98 | 1.4 |
| All-in Cost EUR/USD - Active | 0.82 | 0.74 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IG and City Index are two major online brokers offering a wide array of investment opportunities, yet they cater to slightly different trading preferences. IG offers an extensive selection of 19,537 tradeable symbols, surpassing City Index's 13,500. Both brokers provide forex trading as CFDs or spot contracts; however, IG stands out with 97 forex pairs, outperforming City Index's 66 pairs. Further separating the two, IG allows clients direct access to U.S. and international exchange securities, enabling the purchase of actual stocks like Apple or Vodafone. This capability is notably absent in City Index, which focuses more on CFDs.
For those interested in cryptocurrency, IG permits the purchase of actual cryptocurrencies and derivatives, whereas City Index limits transactions to crypto derivatives only. On the innovative side, City Index supports copy trading, which isn't available on IG. Despite these differences, both brokers receive a five-star rating for their range of investments, with IG ranked #4 and City Index ranked #8 by ForexBrokers.com, signaling strong confidence in their comprehensive offerings.
| Feature |
IG
|
City Index
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 13500 |
| Forex Pairs (Total) | 97 | 66 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | 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.
When comparing IG and City Index, both brokers offer competitive trading platforms and tools, but they cater to slightly different needs. IG stands out by offering a higher-rated experience with a proprietary platform, which users have rated five stars. IG's platform is supported on Windows and accessible through web browsers, ensuring a flexible trading environment. Additionally, users can experiment with paper trading through a free virtual demo account. Though IG supports MetaTrader 4, it doesn’t offer MT5 or copy trading features like City Index. However, IG excels in offering 20 drawing tools and five columns of watchlist capabilities, and it allows users to trade directly from stock charts. ForexBrokers.com ranks IG as the second-best platform out of 63, affirming its strong reputation in trading tools.
City Index also provides a proprietary trading platform available for Windows and web browsers. Like IG, City Index supports both demo accounts for simulated trading and MetaTrader 4, but it also includes the added advantage of copy trading. Although it doesn't support MT5 or platforms like DupliTrade and ZuluTrade, City Index impresses with an extensive array of 239 drawing tools and 11 columns for watchlist organization. Rated 4.5 stars for its platform and tools, City Index is ranked 11th by ForexBrokers.com among 63 brokers. This indicates it’s a solid choice for traders who value comprehensive charting options and the ability to copy successful trades.
| Feature |
IG
|
City Index
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 88 |
| Charting - Drawing Tools (Total) | 20 | 239 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 11 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IG and City Index provide comprehensive mobile trading apps available for iPhone and Android devices, catering to traders on the go. Each app allows for seamless watchlist syncing between the mobile platform and the user's account, ensuring updates are synchronized across devices. Traders can set up real-time market alerts for stocks or forex, ensuring they never miss an important market move. Additionally, both platforms offer robust charting capabilities, allowing users to draw trendlines and view different time frames such as daily, weekly, or intraday. Drawings on these charts are automatically saved, adding a layer of convenience for ongoing analysis.
However, there are some differences worth noting. While IG provides 33 technical studies in its mobile app, City Index offers a more extensive selection with 88 technical studies. Despite this, IG's app seems to be the preferred choice among users, earning a perfect five-star rating for Mobile Trading Apps, compared to City Index's 4.5 stars. This user preference aligns with industry rankings by ForexBrokers.com, where IG stands at the top as the number one ranked app among 63 brokers, whereas City Index is positioned at number nine. IG's lead in ratings and rankings highlights its dominance in delivering a user-friendly and effective mobile trading experience.
| Feature |
IG
|
City Index
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 88 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both IG and City Index provide substantial market research options for traders, including daily market commentary and forex news from premium sources like Bloomberg and Reuters. While IG and City Index each offer sentiment-based trading tools to gauge market positions, they differ in their research tools. IG uses resources from Autochartist and Acuity Trading to enhance its offerings, while City Index leans on Trading Central for technical analysis, but lacks tools from Autochartist and Acuity Trading. Additionally, only IG provides research from TipRanks, bolstering its comprehensive market insights.
Both brokers include an economic calendar to keep traders informed about global market events, making them both strong contenders for those seeking timely information. However, based on a review by ForexBrokers.com, IG edges out with a perfect 5-star rating for research compared to the 4.5 stars that City Index earns. In rankings among 63 brokers, IG claims the number two spot, while City Index holds the tenth position. This provides traders with a clear understanding of the nuanced differences in research capabilities between these two prominent online brokers.
| Feature |
IG
|
City Index
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both IG and City Index provide a wealth of materials designed to enhance trading knowledge. IG and City Index each offer over 10 educational pieces focused on forex and CFDs, ensuring that novice traders have access to a mix of articles, videos, and archived webinars. Both brokers host monthly webinars, which offer interactive learning experiences, and a searchable archive of these webinars is available for further exploration. Whether you're just starting or looking for more advanced insights, each platform boasts more than 10 beginner and advanced educational videos tailored to different trading levels.
However, there are subtle differences in their offerings that might sway your choice. IG not only provides an extensive investor dictionary with over 50 terms, but it also earned 5 stars for its educational content, standing out as the top choice in the education category among 63 brokers. City Index, while also featuring a comprehensive dictionary, received a respectable 4.5 stars and ranks ninth in the same category. For traders prioritizing educational resources, IG's superior rating and ranking might make it the more appealing option.
| Feature |
IG
|
City Index
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IG is better than City Index. IG finished with an overall rank of #1, while City Index finished with an overall rank of #8.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
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City Index
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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IG provides the option to purchase actual (delivered) cryptocurrency as well as cryptocurrency derivatives, whereas City Index only offers cryptocurrency derivatives, not the actual (delivered) cryptocurrency.
Both IG and City Index provide multiple options for depositing and withdrawing account funds, including ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires, although neither broker supports 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 | IG | City Index | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | City Index Review |
| Broker Screenshots | IG | City Index | |
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| Regulation | IG | City Index | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1974 | 1983 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 7 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | City Index | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | City Index | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | City Index | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 13500 | |
| Forex Pairs (Total) | 97 | 66 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | 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 | IG | City Index | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.74 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | City Index | |
|---|---|---|---|
| Minimum Deposit | £250.00 | £100.00 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | IG | City Index | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | City Index | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 11 | |
| Charting - Indicators / Studies (Total) | 33 | 88 | |
| Charting - Drawing Tools (Total) | 20 | 239 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | City Index | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 33 | 88 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IG | City Index | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | City Index | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IG | City Index | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | IG Review | City Index Review |
| Overall | IG | City Index | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | City Index Review |
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