Interactive Brokers vs City Index 2025

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	City 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

Interactive Brokers vs. City Index: which broker is cheaper on commissions and fees? Based on our data, Interactive Brokers tends to deliver lower all-in costs for forex, especially for standard and larger trade sizes, while City Index sits near the industry average with a simpler, spread-based approach plus rebates for high-volume clients. Ratings and rankings: Interactive Brokers earns 5 out of 5 stars and ranks #2 of 63 for Commissions and Fees; City Index earns 4.5 out of 5 stars and ranks #15 of 63.

Interactive Brokers does not publish average forex spreads, but our Q3 2024 sample shows the EUR/USD at 0.19 pips, or about 0.59 pips all-in after commission. Pricing is commission-based with no spread markup: commissions start at 0.00002 (0.2 bps) of the USD trade value per side with a $2 minimum per order ($4 round turn), which equates to roughly 0.40 pips in commission on a $100,000 EUR/USD trade—on top of the quoted spread. The minimum makes smaller trades proportionally pricier, but active traders can unlock lower costs: commission ranges $16–$40 per million round turn ($8–$20 per side), and monthly volume discounts can drop the minimum from $2 to $1.50 per order above $1B and to $1 above $5B. IBKR Lite and IBKR Pro both support forex, but neither is commission-free.

City Index pricing for CFDs, forex, and spread bets is generally in line with the market. Its EUR/USD average spread was about 0.74 pips (July 2023), and you’ll typically get the best pricing on City Index’s own platforms or MetaTrader. Active traders may qualify for the Premium Trader account with a £10,000+ deposit for exclusive pricing and service, and professionals can earn rebates: in the U.K., £4–£7.5 per million depending on monthly volume (starting above £25M), and in Australia, AUD $4.5–$14.5 per million. For most typical EUR/USD trades, City Index’s all-in costs trail Interactive Brokers, but its straightforward spreads and rebate options will appeal to frequent traders who prefer spread-only pricing.

Feature	Interactive Brokers	City 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	0.74 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.

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	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).

Dive deeper: Best Copy Trading Platforms.

Trading platforms and tools

Interactive Brokers and City Index both deliver strong trading platforms and tools. Each offers a free paper trading (demo) account, in-house proprietary platforms, a Windows desktop download, and a web-based platform. You can place trades straight from charts with either broker. In our ratings, Interactive Brokers earns 5 stars and ranks #3 out of 63 brokers for Trading Platforms and Tools, while City Index scores 4.5 stars and ranks #11.

Key differences come down to extras and platform choice. City Index supports copy trading and MetaTrader 4 (MT4), giving fans of social trading and MT4 a clear path—Interactive Brokers does not offer copy trading and does not support MT4. Neither broker supports MetaTrader 5 (MT5). If you want a broad platform suite and top-tier tools, Interactive Brokers is a standout; if you prefer access to MT4 and copy trading alongside a capable proprietary and web platform, City Index fits the bill.

Feature	Interactive Brokers	City 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	City 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	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
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 vs City Index for beginner education: both brokers make it easy to start learning. Each offers a dedicated forex and CFD curriculum with at least 10 pieces of content (articles, videos, or archived webinars). You’ll also find recurring client webinars every month and 10+ beginner-friendly videos that explain trading basics in plain language. As you grow, both brands back you up with 10+ advanced videos, so you can keep building skills without switching platforms.

Where they differ is in third-party scores. According to ForexBrokers.com, Interactive Brokers earns 5 stars and ranks #3 out of 63 brokers for Education, while City Index earns 4.5 stars and ranks #9. If you want one of the highest-rated education libraries available, Interactive Brokers has the edge; City Index remains a strong pick with wide coverage and regular live sessions for new traders.

Feature	Interactive Brokers	City 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	City Index
Overall Rating info
Trust Score info	99	99
Range of Investments
Commissions & Fees
Platforms & Tools
Research
Mobile Trading
Education

FAQs

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Overall Rating	Interactive Brokers	City Index
Overall Rating info
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
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

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 (SFC 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	0.74 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
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
Trust Score info	99	99
Winner	check_circle
Review	Interactive Brokers Review	City Index Review