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 |
IG and City Index both price near the industry average, but IG leans more toward active and high‑volume traders. IG earns 5 stars for commissions and fees and ranks #8 out of 63 brokers at ForexBrokers.com. City Index earns 4.5 stars and ranks #15 out of 63. In practice, IG’s pricing edge shows up when you qualify for its Direct Market Access (DMA) and rebate programs, while City Index offers straightforward spreads with optional rebates for professionals.
IG’s Forex Direct (DMA) account posted an average raw spread of 0.62 pips on EUR/USD in July 2023. Your all‑in cost depends on commission tier: around 1.22 pips at $60 per $1M traded (base tier) and roughly 0.82 pips at $20 per $1M round‑turn for very high volumes. On IG’s spread‑only CFD account, typical EUR/USD spreads averaged 0.69 pips during peak hours in July 2023, widening off‑hours; the full‑day average was 0.98 pips globally (IG US averaged 1.18 pips). Active trader rebates for eligible professionals cut spreads by 10% to 20%, which can bring effective costs near 0.60 pips on qualifying volume.
City Index’s average EUR/USD spread was 0.74 pips in July 2023, in line with the market and most competitive when using its proprietary platforms or MetaTrader. The Premium Trader account (typically £10,000+ deposit) unlocks exclusive pricing and service, and professional rebates start at £4 per $1M traded above £25M/month in the U.K., scaling up to £7.5 per $1M above £300M/month (Australia: AUD $4.5 to $14.5 per $1M). While City Index is competitively priced, IG’s tiered DMA commissions and deeper rebates tend to deliver lower all‑in costs for very active, high‑volume forex traders.
| Feature |
IG
|
City Index
|
|---|---|---|
| Minimum Deposit | £250.00 | £100.00 |
| Average spread (EUR/USD) - Standard account | 0.98 | 1.4 |
| All-in Cost EUR/USD - Active | 0.82 | 0.74 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IG and City Index both support forex trading as CFDs and spot. For sheer choice, IG lists 19,537 tradeable symbols and 97 currency pairs, while City Index offers 13,500 symbols and 66 pairs. If you want the widest selection of markets and forex pairs in one place, IG has the larger catalog; City Index still covers thousands of markets.
IG also lets you buy exchange-traded shares on U.S. and international exchanges (not CFDs), such as Apple or Vodafone. City Index does not offer direct share dealing, though both brokers provide cryptocurrency CFDs; only IG lets you buy actual crypto. City Index includes copy trading, which IG does not. Both earn 5 stars for Range of Investments from ForexBrokers.com, with IG ranked #4 of 63 brokers and City Index at #8.
| Feature |
IG
|
City Index
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 13500 |
| Forex Pairs (Total) | 97 | 66 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | Yes | 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). | 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.
IG vs City Index: Both brokers provide a free demo account for practice. Each offers a proprietary (in-house) platform, plus Windows desktop and web-based trading. Both support MetaTrader 4 (MT4) but not MetaTrader 5 (MT5). Each lets you trade directly from charts and includes popular charting tools and technical indicators. A key difference is copy trading: City Index offers it, while IG does not.
For trading platforms and tools, ForexBrokers.com rates IG at 5 stars and ranks it #2 out of 63 brokers, while City Index earns 4.5 stars and ranks #11. If you want the higher-rated platform experience, IG has the edge; if copy trading matters to you, City Index is the better fit.
| Feature |
IG
|
City Index
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 33 | 88 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IG and City Index both deliver full-featured mobile trading apps for iPhone and Android. Each app supports stock and forex price alerts, synced watchlists across mobile and web, and drawing tools like trendlines that auto-save on your charts—handy for keeping your analysis intact across sessions.
For charting depth, IG includes 33 built-in technical studies, while City Index packs in 88. Even so, IG earns the higher overall marks: 5 stars and the #1 spot for Mobile Trading Apps out of 63 brokers at ForexBrokers.com. City Index is close behind with 4.5 stars and a #9 ranking. In short, choose IG if you want the top-rated mobile trading experience; pick City Index if you value having more indicators at your fingertips.
| Feature |
IG
|
City Index
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 88 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | 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 (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | No |
| Acuity Trading | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IG and City Index both make it easy for beginner forex and CFD traders to learn the ropes. Each broker runs client webinars at least once a month and offers a sizable video library, including 10+ beginner videos and 10+ advanced videos. This structure lets you start with the basics and keep building skills without switching resources, with fresh webinar sessions to reinforce what you learn.
For pure education quality, IG has the edge: it’s rated 5 stars and ranked #1 out of 63 brokers for Education by ForexBrokers.com. City Index is also strong, earning 4.5 stars and a #9 ranking. If education is a key factor in your choice, IG slightly outperforms, while City Index remains a solid option for beginner-friendly forex and CFD education with frequent webinars and plenty of videos.
| Feature |
IG
|
City Index
|
|---|---|---|
| Webinars | Yes | Yes |
| 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 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 vs City Index: IG offers both buying actual (delivered) cryptocurrency and trading cryptocurrency CFDs, while City Index offers only cryptocurrency CFDs and does not support buying real (delivered) crypto.
IG vs City Index: both online brokers support ACH/SEPA transfers, PayPal, and bank wire deposits and withdrawals, while neither 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 | ||
| 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) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | IG | City Index | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 13500 | |
| Forex Pairs (Total) | 97 | 66 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | Yes | 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). | 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 account | 0.98 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.74 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | No | |
| Order 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 | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | IG | City Index | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | IG | City Index | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 33 | 88 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 33 | 88 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IG | City Index | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | Yes | |
| TipRanks | Yes | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | City Index | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | IG | City Index | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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