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 offer pricing that is close to the industry average, but IG has the edge for traders who want lower costs on active trading and larger orders. IG’s Forex Direct DMA account stands out with spreads that averaged 0.62 pips on EUR/USD, with an all-in cost of about 0.82 pips after commission. Its CFD pricing was also solid, with average EUR/USD spreads of 0.69 pips during main trading hours in July 2023. IG earns a 5-star rating and ranks #7 out of 36 brokers for commissions and fees.
City Index also delivers fair, easy-to-understand pricing for CFDs, forex, and spread betting, with the best rates typically available on its own platforms or MetaTrader. Its EUR/USD spread averaged 0.74 pips in July 2023, which keeps it near the market average, though still not quite as competitive as the lowest-cost brokers. Active traders may qualify for rebates, with U.K. professional clients able to earn discounts starting at £4 per million and rising to £7.5 per million at higher volumes. City Index is rated 4.5 stars and ranks #16 out of 36 brokers for commissions and fees.
For most traders, the choice comes down to whether you want slightly better overall pricing and stronger high-volume discounts from IG, or City Index’s straightforward fee structure and trader perks. Both brokers are competitive, but IG is the better pick for cost-conscious active traders, while City Index still offers solid value for everyday CFD and forex trading.
| Feature |
IG
|
City Index
|
|---|---|---|
| Minimum Deposit | £1 | £100.00 |
| Average spread (EUR/USD) - Standard account | 0.91 | 1.4 |
| All-in Cost EUR/USD - Active | 0.82 | 0.9 |
| 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 give traders access to forex as a CFD or spot contract, and each is rated 5 out of 5 stars for range of investments. That said, IG offers a much wider choice overall, with 19,537 tradeable symbols and 97 forex pairs, compared with City Index’s 13,500 symbols and 66 forex pairs. IG also lets clients trade exchange-traded securities on both U.S. and international exchanges, while City Index does not offer these direct share purchases.
When it comes to other investment options, IG supports both actual cryptocurrency purchases and cryptocurrency CFDs, whereas City Index only offers crypto CFDs. City Index does have copy trading, which IG does not. Even so, IG is ranked higher for range of investments by ForexBrokers.com, coming in at #4 out of 36 brokers versus City Index at #8, making IG the better pick for investors looking for the broadest selection.
| 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 and City Index both give traders a wide choice of platform options, including a free demo account, their own in-house platform, a web platform, a Windows desktop download, and support for MetaTrader 4. Both brokers also let you trade directly from a chart, which can make it easier to act on market moves quickly. IG goes a step further by also offering MetaTrader 5, while City Index does not.
One key difference is copy trading: City Index offers it, but IG does not. That extra feature may appeal to beginners or anyone who wants to follow other traders’ strategies. Based on Trading Platforms and Tools, IG is rated 5 out of 5 stars and ranked #1 out of 36 brokers by ForexBrokers.com, while City Index is rated 4.5 out of 5 stars and ranked #11, making IG the stronger choice overall for platform range and trading tools.
| 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) | Yes | 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 offer mobile trading apps for iPhone and Android, along with stock or forex price alerts and watchlist syncing between the app and online account. Each app also lets you draw trendlines on charts and saves those drawings automatically, which makes it easier to pick up where you left off. In other words, both brokers cover the basics well for traders who want to stay on top of the market while on the move.
Where IG pulls ahead is in overall mobile app quality and charting support. IG offers 33 technical studies in its app, while City Index provides 88, giving City Index the edge for traders who want more chart tools. Even so, IG earns a perfect 5-star Mobile Trading Apps rating and ranks #1 out of 36 brokers at ForexBrokers.com, compared with City Index’s 4.5-star rating and #9 ranking. For a simpler all-around mobile experience, IG stands out, while City Index may appeal more to chart-focused users.
| 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.
IG and City Index both give traders useful market research basics, including daily market commentary, top-tier forex news from sources like Bloomberg, Reuters, and Dow Jones, plus an economic calendar and a sentiment tool showing long and short positions. Both platforms also make it easier to follow major market events and gauge trader mood before placing a trade.
IG stands out for research depth, offering Autochartist, TipRanks, and Acuity Trading tools such as Signal Centre, while City Index supports Trading Central instead of those services. That extra range helps explain why IG is rated 5 stars for Research and ranked #2 out of 36 brokers by ForexBrokers.com, compared with City Index at 4.5 stars and #10.
| 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.
When it comes to learning resources for beginners, both IG and City Index do a strong job. Each broker offers forex and CFD education with at least 10 relevant learning pieces, plus monthly online webinars and a good range of beginner and advanced video content. That means new traders can find help at either broker, whether they want simple introductions to trading or more detailed lessons as they gain experience.
IG has a slight edge in education overall. It is rated 5 out of 5 stars for Education and ranks #7 out of 36 brokers on ForexBrokers.com, while City Index is rated 4.5 out of 5 stars and ranks #9. In practical terms, both are solid choices for learners, but IG stands out a bit more for the quality and breadth of its educational tools.
| 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
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|---|---|---|
| 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 (FSA 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 CMA 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 | 0.91 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.9 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | IG | City Index | |
|---|---|---|---|
| Minimum Deposit | £1 | £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) | Yes | 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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