Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs City Index, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Interactive Brokers vs. City Index: both are long-established, publicly traded brokers that are not banks. Interactive Brokers was founded in 1977, while City Index began in 1983. Each holds a 99/99 Trust Score from ForexBrokers.com—scores of 90–99 are considered highly trusted—signaling top-tier credibility.
On regulation, Interactive Brokers holds 8 Tier-1 and 2 Tier-2 licenses, whereas City Index holds 7 Tier-1 and 1 Tier-2 licenses. Tier-1 regulators are viewed by ForexBrokers.com as highly trusted and Tier-2 as trusted, which helps explain why both firms achieve the highest Trust Score.
| Feature |
Interactive Brokers
|
City Index
|
|---|---|---|
| Year Founded | 1977 | 1983 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 8 | 7 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Interactive Brokers comes out ahead of City Index on commissions and fees, with a 5-star rating and a #2 ranking out of 36 brokers. IBKR uses commission-based forex pricing rather than marking up spreads, and its Q3 2024 average EUR/USD spread was 0.19 pips, or about 0.59 pips all-in after commission. Its forex commissions start at 0.00002 of the U.S. dollar trade value per side, with a $2 minimum per order, which can make small trades more expensive but keeps pricing low for larger or more active forex traders.
City Index earns a strong 4.5-star rating and ranks #16 out of 36 brokers in the commissions and fees category. Its pricing is generally in line with the industry average, and its EUR/USD spread averaged 0.74 pips as of July 2023. City Index also offers rebates for active traders, including lower per-million rates for high monthly volumes, plus a Premium Trader account for eligible clients who deposit more than £10,000.
In simple terms, Interactive Brokers is usually the better pick if your main goal is lower forex trading costs, especially for active or higher-volume traders. City Index is still competitively priced, but it is more of an average-cost choice compared with IBKR’s lower overall fees.
| Feature |
Interactive Brokers
|
City Index
|
|---|---|---|
| Minimum Deposit | $0 | £100.00 |
| Average spread (EUR/USD) - Standard account | 0.226 | 1.4 |
| All-in Cost EUR/USD - Active | 0.226 | 0.9 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to range of investments, Interactive Brokers and City Index both give traders access to forex and both are rated 5 stars in this category. Interactive Brokers stands out for the sheer variety of markets on offer, with about 8,500 tradeable symbols, 90 forex pairs, and access to exchange-traded securities on both U.S. and international exchanges. It also lets clients buy actual cryptocurrency, which adds another option for long-term investors and active traders alike.
City Index offers a larger overall list of tradeable symbols, with around 13,500 available, but its market mix is different. It does not provide exchange-traded stocks on U.S. or international exchanges, and it offers cryptocurrency as a CFD rather than as the actual coin. On the other hand, City Index does support copy trading, which Interactive Brokers does not. In ForexBrokers.com’s Range of Investments ranking, Interactive Brokers places first out of 36 brokers, while City Index ranks eighth.
| Feature |
Interactive Brokers
|
City Index
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 13500 |
| Forex Pairs (Total) | 90 | 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) | No | 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.
Interactive Brokers and City Index both give traders a choice of platform styles, including a web-based platform, a Windows desktop download, and a proprietary platform built by the broker. Each also offers a free paper trading account, so you can practice before using real money, and both let you trade directly from a chart. In short, both brokers cover the main platform needs most traders look for.
Where they differ is in extra tools and trading styles. City Index stands out for supporting copy trading and MetaTrader 4, while Interactive Brokers does not offer either. Both brokers score highly for trading platforms and tools, but Interactive Brokers is rated 5 out of 5 stars and ranks #2 out of 36 brokers at ForexBrokers.com, compared with City Index at 4.5 out of 5 stars and #11 out of 36. That makes Interactive Brokers the stronger pick overall for platform quality, while City Index may appeal more to traders who want MT4 and copy trading.
| Feature |
Interactive Brokers
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 155 | 88 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Interactive Brokers and City Index both make it easy to trade on the go with iPhone and Android apps, plus price alerts and watchlist syncing between mobile and online accounts. Each app also lets you draw trendlines on charts, which is helpful for basic technical analysis. Where Interactive Brokers pulls ahead is charting depth, offering 155 technical studies in its mobile app compared with City Index’s 88.
City Index does have one handy edge: its mobile app automatically saves chart drawings, while Interactive Brokers does not. Still, Interactive Brokers scores higher overall for mobile trading apps, earning 5 out of 5 stars and ranking #4 out of 36 brokers, versus City Index’s 4.5 stars and #9 ranking. For traders who want more chart tools and a higher overall mobile app rating, Interactive Brokers is the stronger pick; for those who value auto-saving chart drawings, City Index may appeal.
| Feature |
Interactive Brokers
|
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 | 155 | 88 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
Interactive Brokers and City Index both give traders strong market research support, with daily market commentary, forex news from major sources like Bloomberg and Reuters, sentiment tools, Trading Central insights, and an economic calendar covering global events. Neither broker includes Autochartist, so this is one area where they are the same. In short, both platforms offer plenty of useful research for everyday trading decisions.
That said, Interactive Brokers has a clear edge overall. It adds TipRanks and Acuity Trading tools such as Signal Centre, while City Index does not offer these extras. That advantage is reflected in ForexBrokers.com’s ratings and rankings, where Interactive Brokers scores 5 stars for Research and ranks #3 out of 36 brokers, compared with City Index’s 4.5 stars and #10 ranking.
| Feature |
Interactive Brokers
|
City Index
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | No |
| Acuity Trading | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Interactive Brokers and City Index both give beginners plenty of learning material, including forex and CFD education, live online webinars each month, and a large library of beginner and advanced trading videos. In other words, either broker can help new traders build basic skills and keep learning as they grow more confident. The key difference is in the overall depth and recognition of that education offering.
Interactive Brokers comes out ahead, earning a 5-star Education rating and the No. 1 spot out of 36 brokers from ForexBrokers.com. City Index is also a strong choice, with a 4.5-star Education rating and a No. 9 ranking. For beginners who want the widest range of learning tools and the strongest-rated education experience, Interactive Brokers has the edge, while City Index still offers plenty of useful support.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than City Index. Interactive Brokers finished with an overall rank of #2, while City Index finished with an overall rank of #8.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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City Index
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| Trust Score | 99 | 99 |
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Comparing online brokers, Interactive Brokers lets you buy actual (delivered) cryptocurrency but does not offer cryptocurrency CFDs, while City Index provides cryptocurrency CFD trading but does not support purchasing real, delivered cryptocurrencies.
Interactive Brokers vs City Index: both support ACH/SEPA transfers and bank wire deposits/withdrawals, City Index additionally accepts PayPal while neither supports Skrill; Visa/Mastercard availability is not specified.
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 | Interactive Brokers | City Index | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | City Index Review |
| Broker Screenshots | Interactive Brokers | City Index | |
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| Regulation | Interactive Brokers | City Index | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1977 | 1983 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | 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 | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | City Index | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | Yes | 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) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | City Index | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) |
| Investments | Interactive Brokers | City Index | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 13500 | |
| Forex Pairs (Total) | 90 | 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) | No | 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 | Interactive Brokers | City Index | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.226 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.226 | 0.9 | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | City Index | |
|---|---|---|---|
| Minimum Deposit | $0 | £100.00 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | Interactive Brokers | City Index | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | Interactive Brokers | City Index | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 155 | 88 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 155 | 88 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | City Index | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | Yes | Yes | |
| TipRanks | Yes | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | City Index | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Interactive Brokers | 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 | Interactive Brokers Review | City Index Review |
| Overall | Interactive Brokers | City Index | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | City Index Review |
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