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Interactive Brokers vs City Index 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

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.

Interactive Brokers
5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 99
  • Tradeable Symbols (Total): 8500
City Index
5/5 Stars Overall
  • Minimum Deposit: £100.00
  • Trust Score: 99
  • Tradeable Symbols (Total): 13500

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.

Regulation

Interactive Brokers, founded in 1977, and City Index, established in 1983, are both key players in the online brokerage industry. Each maintains a strong regulatory presence, holding a ForexBrokers.com Trust Score of 99 out of 99, indicating they are highly trusted. Both are publicly traded companies and not registered as banks. However, Interactive Brokers holds a slight edge in regulatory oversight with nine Tier-1 licenses, whereas City Index possesses seven Tier-1 licenses. These licenses, considered the highest level of trust according to ForexBrokers.com, suggest a commitment to stringent regulatory standards.

Additionally, Interactive Brokers holds two Tier-2 licenses, with City Index holding one, furthering their credibility. These Tier-2 licenses signify a trusted status, providing users with an added layer of assurance. Both brokers demonstrate a robust commitment to trust and transparency, making them reliable choices for anyone seeking stability in online trading platforms.

Feature Interactive Brokers logoInteractive Brokers
City Index logoCity Index
Year Founded info 1977 1983
Publicly Traded (Listed) info Yes Yes
Bank info No No
Tier-1 Licenses info 9 7
Tier-2 Licenses info 2 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 1

Fees

Comparing Interactive Brokers vs. City Index on commissions and fees: Interactive Brokers earns 5/5 stars and ranks #2 out of 63, while City Index earns 4.5/5 stars and ranks #16 out of 63 (ForexBrokers.com). IBKR tends to be cheaper for standard-size forex trades thanks to tight EUR/USD pricing and a commission-based model, whereas City Index sits near the industry average and improves mainly through rebates for high-volume or professional clients.

Interactive Brokers doesn’t publish average forex spreads, but Q3 2024 data shows an average EUR/USD spread of 0.19 pips, with an effective all-in cost of about 0.59 pips after commission. Commissions start at 0.00002 of the U.S. dollar trade value per side with a $2 minimum per order ($4 round turn), and can drop to 0.08 basis points for very active traders. Example: buying and then selling $100,000 of EUR/USD equates to roughly 0.40 pips in commission on top of the spread. Because of the $2-per-side minimum, smaller trade sizes can be relatively pricier. IBKR aggregates prices from 17 interbank dealers and charges commission instead of marking up the spread, typically $16–$40 per million round turn, with discounts that lower the minimum to $1.50 per order above $1B/month and $1 above $5B/month; RFQ is available for large tickets. IBKR Lite and IBKR Pro support forex, but forex is not commission-free.

City Index pricing for CFDs, forex, and spread betting is in line with the market. As of July 2023, the average EUR/USD spread was 0.74 pips, keeping all-in costs around the industry average when using City Index’s platforms or MetaTrader. Active traders who deposit more than £10,000 may qualify for the Premium Trader account with access to exclusive pricing and dedicated support. Professional and high-volume traders can earn rebates: in the U.K., from £4 per million above £25M/month up to £7.5 per million above £300M/month; in Australia, roughly AUD $4.5 to AUD $14.5 per million depending on tier.

Feature Interactive Brokers logoInteractive Brokers
City Index logoCity Index
Minimum Deposit info $0 £100.00
Average spread (EUR/USD) - Standard account info 0.59 info 1.4 info
All-in Cost EUR/USD - Active info 0.65 info 0.9 info
Non-wire bank transfer info Yes Yes
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No No
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

Interactive Brokers and City Index both deliver a wide range of markets and earn 5 out of 5 stars for Range of Investments from ForexBrokers.com, with Interactive Brokers ranked #1 of 63 brokers and City Index ranked #8. City Index lists more overall tradeable symbols (13,500 vs 8,500), while Interactive Brokers offers more forex pairs (90 vs 66). Both support forex trading (CFD or spot) and both provide crypto CFDs.

Key differences: Interactive Brokers lets you buy actual exchange-traded securities on U.S. and international exchanges—so you can purchase shares like Apple (AAPL) or Vodafone (VOD-GB)—and it also lets you buy real cryptocurrency, not just CFDs. City Index does not offer real shares or delivered crypto, but it does offer copy trading (Interactive Brokers does not). Choose Interactive Brokers if you want direct share ownership and access to delivered crypto; choose City Index if you want a larger catalog of CFD markets and copy trading tools.

Feature Interactive Brokers logoInteractive Brokers
City Index logoCity Index
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 8500 13500
Forex Pairs (Total) info 90 66
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info No Yes
Cryptocurrency (Underlying) info Yes No
Cryptocurrency (CFDs) info 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.

Trading platforms and tools

Interactive Brokers and City Index both make it easy to get started with a free paper trading demo. Each broker offers a proprietary platform, a Windows desktop download, and a web-based platform, and both let you trade directly from price charts.

Key differences: City Index supports copy trading and MetaTrader 4 (MT4), while Interactive Brokers does not. Neither broker offers MT5. For Trading Platforms and Tools, ForexBrokers.com rates Interactive Brokers at 5 stars (ranked #2 of 63) and City Index at 4.5 stars (ranked #11 of 63). Choose City Index if you want MT4 or copy trading; choose Interactive Brokers if top-rated platform tools are your priority.

Feature Interactive Brokers logoInteractive Brokers
City Index logoCity Index
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No No
Charting - Indicators / Studies (Total) info 155 88
Charting - Trade From Chart info Yes Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Interactive Brokers and City Index both offer full-featured mobile trading apps for iPhone and Android. Each app supports stock and forex price alerts and watchlist syncing, so changes you make on mobile carry over to your online account.

For charting, Interactive Brokers provides 97 technical studies versus 88 on City Index, and both let you draw trendlines. Only City Index auto-saves chart drawings, while Interactive Brokers does not. In independent ratings, Interactive Brokers earns 5 stars and ranks #4 out of 63 brokers for Mobile Trading Apps, while City Index earns 4.5 stars and ranks #9. If you want more built-in studies and top-tier ratings, Interactive Brokers has the edge; if auto-saving chart annotations matters most, City Index may suit you better.

Feature Interactive Brokers logoInteractive Brokers
City Index logoCity Index
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 97 88
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info No Yes

Dive deeper: Best Forex Trading Apps.

Market research

When comparing the market research offerings of Interactive Brokers and City Index, both platforms provide valuable resources for traders. They each offer daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. Additionally, both brokers incorporate Trading Central's tools for technical analysis, and they provide sentiment-based trading tools to gauge market positions. Furthermore, they offer comprehensive economic calendars to keep traders informed of global financial events. However, Interactive Brokers shines with its inclusion of market insights from TipRanks and research tools from Acuity Trading, which City Index does not provide.

This extra layer of resources contributes to Interactive Brokers receiving a stellar 5-star rating for research, compared to City Index's impressive yet slightly lower 4.5-star rating. Within the ForexBrokers.com rankings, Interactive Brokers holds the #3 spot out of 63 brokers in the research category, which further underscores its strong research capabilities. Meanwhile, City Index is also highly regarded, occupying the #10 slot, but it falls short of the offerings and accolades associated with Interactive Brokers, especially in the depth of market analysis tools available.

Feature Interactive Brokers logoInteractive Brokers
City Index logoCity Index
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central info Yes Yes
Client sentiment data info Yes Yes
TipRanks info Yes No
Acuity Trading info Yes No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

Interactive Brokers offers a standout learning experience for beginners. You get live client webinars at least once a month and a deep library of beginner-friendly videos (10+), along with plenty of advanced videos when you’re ready to go further. It’s the top-rated broker for Education by ForexBrokers.com, earning 5 stars and the #1 spot out of 63 brokers.

City Index also makes it easy to get started, with monthly educational webinars and at least 10 beginner videos, plus 10+ advanced videos to grow your skills. It holds a strong 4.5-star Education rating and ranks #9 out of 63 brokers on ForexBrokers.com. If maximum educational depth and industry-leading recognition are your priorities, Interactive Brokers has the edge; if you want a high-quality alternative, City Index is a solid choice.

Feature Interactive Brokers logoInteractive Brokers
City Index logoCity Index
Webinars info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

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 logoInteractive Brokers
City Index logoCity Index
Overall Rating info 5/5 Stars 5/5 Stars
Trust Score info 99 99
Range of Investments 5/5 Stars 5/5 Stars
Trading Fees 5/5 Stars 4.5/5 Stars
Trading Platforms 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 4.5/5 Stars

FAQs

Can you trade cryptocurrency with Interactive Brokers or City Index?

Interactive Brokers vs City Index: Interactive Brokers offers both buying actual (delivered) cryptocurrency and trading cryptocurrency CFDs, whereas City Index provides crypto CFD trading only and does not support purchasing real cryptocurrency.

What funding options does each broker offer?

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.

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Overall Rating Interactive Brokers City Index
Overall Rating info 5/5 Stars 5/5 Stars
Trading Fees 5/5 Stars 4.5/5 Stars
Range of Investments 5/5 Stars 5/5 Stars
Trading Platforms 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 4.5/5 Stars
Trust Score info 99 99
Winner check_circle
Review Interactive Brokers Review City Index Review
Broker Screenshots Interactive Brokers City Index
Broker Gallery (click to expand) info
IBKR mobile watchlist. IBKR Desktop platform charts. Interactive Brokers research Traders Insight daily analysis article detail Interactive Brokers IBKR Podcast video.
City Index MetaTrader 4 mobile trading app City Index web platform trading. City Index web platform research Trading Central City Index educational course advanced.
Regulation Interactive Brokers City Index
Trust Score info 99 99
Year Founded info 1977 1983
Publicly Traded (Listed) info Yes Yes
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 9 7
Tier-2 Licenses info 2 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 1
Tier-1 Licenses (Highly Trusted) Interactive Brokers City Index
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes Yes
Hong Kong (SFC Authorised) info Yes No
Japan (FSA Authorised) info Yes No
Singapore (MAS Authorised) info Yes Yes
Switzerland (FINMA Authorised) info Yes
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) Interactive Brokers City Index
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA, FSRA, or SCA Authorised) info Yes Yes
India (SEBI Authorised) info Yes No
Jordan (JSC Authorised) info
Investments Interactive Brokers City Index
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 8500 13500
Forex Pairs (Total) info 90 66
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info No Yes
Cryptocurrency (Underlying) info Yes No
Cryptocurrency (CFDs) info 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 Interactive Brokers City Index
Average spread (EUR/USD) - Standard account info 0.59 info 1.4 info
All-in Cost EUR/USD - Active info 0.65 info 0.9 info
Inactivity Fee info No Yes
Order execution: Agency info Yes No
Order execution: Market Maker info No Yes
Funding Interactive Brokers City Index
Minimum Deposit info $0 £100.00
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No No
Bank Wire (Deposit/Withdraw) info Yes Yes
Non-wire bank transfer info Yes Yes
Trading Platforms Interactive Brokers City Index
Proprietary Desktop Trading Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No No
cTrader info No No
Trading Tools Interactive Brokers City Index
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 155 88
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Interactive Brokers City Index
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 97 88
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info No Yes
Mobile Research - Economic Calendar info Yes Yes
Research Interactive Brokers City Index
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central info Yes Yes
TipRanks info Yes No
Client sentiment data info Yes Yes
Economic Calendar info Yes Yes
Education Interactive Brokers City Index
Webinars info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Major Forex Pairs Interactive Brokers City Index
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review Interactive Brokers Review City Index Review
Overall Interactive Brokers City Index
Overall Rating info 5/5 Stars 5/5 Stars
Trading Fees 5/5 Stars 4.5/5 Stars
Range of Investments 5/5 Stars 5/5 Stars
Trading Platforms 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 4.5/5 Stars
Trust Score info 99 99
Winner check_circle
Review Interactive Brokers Review City Index Review
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