After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare City Index vs IG Group.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. IG Group received a rating of 4.50 stars over City Index's 4.00 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. City Index alongside IG Group are regulated in a major hub. City Index alongside IG Group are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. IG Group offers its clients access to 91 different currency pairs while City Index has 84 available pairs, a difference of 7.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. City Index and IG Group both offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. City Index boasts an offering of 25 charting tools compared to IG Group's 9 available charting tools. City Index offers its clients access to 139 different indicators (for example, volume) while IG Group has 22 available indicators, a difference of 117.
Overall, IG Group comes out on top with 5.00 stars over City Index's 4.50 stars. And, when it comes to individual category awards, IG Group posted awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2018, while City Index found itself with none of these.