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 offer competitive pricing strategies for active traders, but they differ in their commission structures and fees. IG, rated 5 stars and ranked #8 out of 62 brokers by ForexBrokers.com for commissions and fees, excels with its Forex Direct accounts that cater to large orders and active traders. Its spreads on the main Forex Direct account averaged 0.62 pips in July 2023, with an all-in cost of 0.82 pips after incorporating a commission of 0.2 pips per trade. IG’s rebate program further benefits traders transacting over £50 million monthly, with spread rebates ranging from 10% to 20%. In contrast, IG’s DMA account offers a lower all-in spread based on a commission structure, where high-volume traders can see commissions drop as low as $10 per million.
City Index, rated 4.5 stars and ranked #14 out of 62 brokers in the same category, provides pricing in line with the industry average for its CFD, forex, and spread-betting products. In July 2023, City Index had an average spread of 0.74 pips on the EUR/USD, aligning with industry norms but trailing top-performing brokers. Active traders depositing over £10,000 can benefit from the Premium Trader account, which offers exclusive pricing and dedicated service. Additionally, City Index offers rebate opportunities for professional traders in the UK, starting at £4 per million for those trading over £25 million monthly, with incentives improving as trading volumes increase.
| 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 online brokers known for their extensive range of investment options. Both platforms allow you to trade forex as CFDs or spot contracts, but IG boasts a larger selection of tradeable symbols with 19,537 compared to City Index's 13,500. For forex enthusiasts, IG offers 97 pairs, while City Index provides 66. Notably, IG offers exchange-traded securities on both the U.S. and international exchanges, giving clients access to shares from companies like Apple and Vodafone. City Index, on the other hand, does not provide these options, focusing instead on CFD trading.
Both brokers support cryptocurrency derivatives but do not offer direct cryptocurrency purchases. While IG does not feature copy trading, City Index does, allowing investors to mimic the trades of successful traders. Despite these differences, both IG and City Index receive a top rating of five stars for their range of investments. However, IG holds a higher ranking at #4 compared to City Index's #8 as assessed by ForexBrokers.com among 62 brokers. This highlights IG's wider array of investment possibilities and appeal to a diverse investor base.
| 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) | No | 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 for their trading platforms and tools, both brokers offer users the chance to test their platforms with a free demo account, allowing for simulated trading in a risk-free environment. Each has developed its own proprietary platforms and provides both web-based and Windows-based desktop download options. While IG does not support copy trading, City Index offers this feature, which can be an attractive option for those looking to mimic the trades of seasoned investors. Additionally, both brokers support the popular MetaTrader 4 (MT4) platform, but neither offers MetaTrader 5 (MT5), DupliTrade, or ZuluTrade. For charting tools, IG provides 20 drawing tools, while City Index significantly expands this offering with 239 drawing tools.
In terms of direct trading from stock charts, both brokers enable this capability. The watch list functionality also differs, with IG offering five columns to City Index's 11. Rated highly by ForexBrokers.com, IG earns a perfect five-star rating for its platforms and tools, placing it second out of 62 brokers in this category. City Index, meanwhile, garners a respectable 4.5-star rating and ranks tenth. This makes IG a preferred choice for traders prioritizing top-tier trading platforms and tools, although City Index still presents a strong offering, particularly for those interested in copy trading and extensive charting features.
| 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 offer mobile apps for trading on iPhone and Android devices, catering to traders who prefer managing their investments on the go. These apps allow users to receive stock or forex price alerts and maintain synchronization of watchlists with their online accounts, ensuring seamless updates between their mobile app and desktop interface. Users can also draw trendlines on charts, view multiple time frames, and have drawings auto-saved for convenience. However, when it comes to in-depth charting tools, City Index stands out by offering 88 technical studies, significantly more than the 33 provided by IG.
In terms of user ratings, IG's mobile app shines with a perfect score of 5 stars, while City Index follows closely with an impressive 4.5-star rating. According to ForexBrokers.com, IG is ranked #1 out of 62 brokers for its mobile trading app, underscoring its reputation for delivering an outstanding mobile trading experience. Meanwhile, City Index holds a respectable #9 position. Both platforms allow the creation of watchlists with real-time quotes, providing traders with the essential tools to monitor and manage their portfolios efficiently.
| 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.
When comparing IG and City Index for their market research offerings, both platforms provide a comprehensive range of services. IG and City Index each offer daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. Both brokers also provide sentiment-based trading tools and an economic calendar for staying up-to-date with global news events. However, differences arise in their technical tools and partnerships: IG provides Autochartist and research from TipRanks, while City Index offers tools from Trading Central but lacks offerings from Autochartist, TipRanks, or Acuity Trading. Due to these differences, IG receives a perfect 5-star rating for research, ranking #2 out of 62 brokers on ForexBrokers.com, whereas City Index garners a still-respectable 4.5 stars and ranks #10.
For traders seeking advanced research capabilities, IG has a slight edge with its broader array of tools and external partnerships. With access to Autochartist and the inclusion of Acuity Trading tools, IG offers features that provide deeper insights into market trends and trading strategies. City Index, meanwhile, maintains a strong presence in the market thanks to its collaboration with Trading Central for technical analysis tools. Both brokers are equipped to cater to various trading needs, but IG's comprehensive research resources make it a top choice for traders who prioritize extensive market insights.
| 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 on forex and CFDs, each offering more than ten educational pieces such as articles and videos. Both brokers also host online webinars each month to help traders enhance their skills. For those interested in revisiting past sessions, both IG and City Index provide a searchable archive of recorded webinars, making it easy for beginners to learn at their own pace.
New traders can dive into beginner-friendly video content, with both IG and City Index offering at least ten videos specifically tailored for novices. Additionally, both platforms also cater to advanced traders with educational videos on complex topics. For a comprehensive understanding of trading terminology, both brokers include an investor dictionary with over 50 terms. In terms of educational quality, IG stands out with a perfect 5-star rating and holds the top spot among 62 brokers on ForexBrokers.com. City Index, while also highly rated at 4.5 stars, ranks 9th in the same category.
| 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 62 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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Both IG and City Index do not offer the ability to buy actual delivered cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
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) | No | 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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