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Interactive Brokers vs City Index 2023

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is Interactive Brokers better than City Index? In our analysis of 23 international regulators across 62 of the best forex brokers, Interactive Brokers is considered Highly Trusted, with an overall Trust Score of 99 out of 99. City Index is considered Highly Trusted, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating Interactive Brokers City Index
Overall Rating info 5/5 Stars 5/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4.5/5 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
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
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
European Union Authorised (MiFID) info Yes info Yes info
Tier-1 Licenses info 9 7
Tier-2 Licenses info 1 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 (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes Yes
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No No
European Union Authorised (MiFID) info Yes info Yes info
Tier-2 Licenses (Trusted) Interactive Brokers City Index
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info No Yes
India (SEBI Authorised) info Yes No
Jordan (JSC Authorised) info No No
Investments Interactive Brokers City Index
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 8500 13500
Forex Pairs (Total) info 90 84
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info No Yes
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) info 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 info 0.6 info 1.0 info
All-in Cost EUR/USD - Active info 0.6 info 1.0 info
Active Trader or VIP Discounts info Yes Yes
Inactivity Fee info No Yes
Execution: Agency Broker info Yes No
Execution: Market Maker info No Yes
Funding Interactive Brokers City Index
Minimum Deposit info $0 ยฃ100.00
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No No
Visa/Mastercard (Credit/Debit) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms Interactive Brokers City Index
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No No
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools Interactive Brokers City Index
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 640 11
Charting - Indicators / Studies (Total) info 128 88
Charting - Drawing Tools (Total) info 85 239
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 Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 97 88
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info No Yes
Forex Calendar info Yes Yes
Research Interactive Brokers City Index
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central (Recognia) info Yes Yes
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education Interactive Brokers City Index
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs Interactive Brokers City Index
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review Interactive Brokers Review City Index Review
Overall Interactive Brokers City Index
Overall Rating info 5/5 Stars 5/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4.5/5 Stars 4.5/5 Stars
Trust Score info 99 99
Winner check_circle
Review Interactive Brokers Review City Index Review
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Interactive Brokers vs City Index Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare Interactive Brokers vs City Index.

Does Interactive Brokers or City Index offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Interactive Brokers offers better pricing overall for traders.

Is Interactive Brokers or City Index safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Interactive Brokers holds 9 global Tier-1 licenses, while City Index holds 7. Both Interactive Brokers and City Index hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, Interactive Brokers and City Index earned the same Trust Score.

Which trading platform is better: Interactive Brokers or City Index?

To compare the trading platforms of both Interactive Brokers and City Index, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

Interactive Brokers provides traders 90 currency pairs (e.g., EUR/USD) compared to City Index's 84 available pairs. Forex pairs aside, City Index offers traders access to 13500 CFDs while Interactive Brokers has 8500 available CFDs, a difference of 5000.

Can I trust Interactive Brokers?

Interactive Brokers is publicly traded, does not operate a bank, and is authorised by nine Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Interactive Brokers is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Canadian Investment Regulatory Organization (CIRO), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), Commodity Futures Trading Commission (CFTC), and the European Union via MiFID.

Can I trust City Index?

City Index is publicly traded, does not operate a bank, and is authorised by seven Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Rier-3 regulator (Average Risk), and one Tier-4 regulator (High Risk). City Index is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), Canadian Investment Regulatory Organization (CIRO), Japanese Financial Services Authority (JFSA), Commodity Futures Trading Commission (CFTC), Financial Conduct Authority (FCA), and the European Union via MiFID.

Is Interactive Brokers good?

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.

Is City Index good?

Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.

Overall winner: Interactive Brokers

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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