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Interactive Brokers vs City Index 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

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 low-risk, with an overall Trust Score of 99 out of 99. City Index is considered low-risk, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.

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Overall RatingInteractive BrokersCity Index
Overall Rating 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 99 99
Winner check_circle
Review Interactive Brokers Review City Index Review
RegulationInteractive BrokersCity Index
Trust Score 99 99
Year Founded 1977 1983
Publicly Traded (Listed) Yes Yes
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 8 3
Tier-2 Licenses 1 2
Tier-3 Licenses 0 1
Tier-1 Licenses (High Trust)Interactive BrokersCity Index
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) Yes Yes
SFC Authorised (Hong Kong) Yes No
CBI Authorised (Ireland) Yes No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) Yes Yes
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) Yes No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)Interactive BrokersCity Index
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
SEBI Authorised (India) Yes No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No Yes
Tier-3 Licenses (Low Trust)Interactive BrokersCity Index
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No Yes
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsInteractive BrokersCity Index
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 8500 13500
Forex Pairs (Total) 90 84
U.S. Stock Trading (Non CFD) Yes No
Int'l Stock Trading (Non CFD) Yes No
Social Trading / Copy Trading No Yes
Cryptocurrency (Physical) Yes No
Cryptocurrency (CFD) 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).
CostInteractive BrokersCity Index
Average Spread EUR/USD - Standard 0.6 info 1.0 info
All-in Cost EUR/USD - Active 0.6 info 1.0 info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes No
Execution: Market Maker No Yes
FundingInteractive BrokersCity Index
Minimum Deposit $0 £100.00
PayPal (Deposit/Withdraw) No Yes
Skrill (Deposit/Withdraw) No No
Visa/Mastercard (Credit/Debit) No Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsInteractive BrokersCity Index
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
Social Trading / Copy Trading No Yes
MetaTrader 4 (MT4) No Yes
MetaTrader 5 (MT5) No No
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading ToolsInteractive BrokersCity Index
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 640 11
Charting - Indicators / Studies (Total) 128 88
Charting - Drawing Tools (Total) 85 81
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingInteractive BrokersCity Index
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing Yes Yes
Mobile Charting - Indicators / Studies 97 88
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave No Yes
Forex Calendar Yes Yes
ResearchInteractive BrokersCity Index
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist No No
Trading Central (Recognia) Yes Yes
Social Sentiment - Currency Pairs Yes Yes
Economic Calendar Yes Yes
EducationInteractive BrokersCity Index
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos Yes Yes
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsInteractive BrokersCity Index
GBP/USD Yes Yes
USD/JPY Yes Yes
EUR/USD Yes Yes
USD/CHF Yes Yes
USD/CAD Yes Yes
NZD/USD Yes Yes
AUD/USD Yes Yes
Review Interactive Brokers Review City Index Review
OverallInteractive BrokersCity Index
Overall Rating 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 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 8 global Tier-1 licenses, while City Index holds 3. City Index holds 2 global Tier-2 licenses, while Interactive Brokers holds 1. 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 (high trust), one tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Interactive Brokers is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), Monetary Authority of Singapore (MAS), and the Commodity Futures Trading Commission (CFTC).

Can I trust City Index?

City Index is publicly traded, does not operate a bank, and is authorised by four tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust). City Index is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), and the Financial Conduct Authority (FCA).

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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announcementPlease 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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