Written by ForexBrokers.com
In this head to head comparison of City Index vs IronFX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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.
City Index, established in 1983, is a well-regulated online broker listed on the stock exchange, making it highly trustworthy. It holds an impressive tally of seven Tier-1 licenses, recognized as top-level in terms of trust, and one Tier-2 license, also considered trustworthy. This strong regulatory standing, combined with its Trust Score rating of 99, marks City Index as an exceptionally reliable choice for traders.
In contrast, IronFX, founded in 2010, is not publicly listed but maintains a respectable regulatory framework with three Tier-1 licenses. However, it lacks Tier-2 licenses. With a Trust Score of 83, IronFX is deemed a trusted option but falls short of City Index's peak trustworthiness. Both brokers are not banks, providing a focused service in the trading domain.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| Year Founded | 1983 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When it comes to commissions and fees, City Index offers competitive pricing in line with industry averages for trading CFDs, forex, and spread-betting products. Using their proprietary platforms or MetaTrader provides the best rates. For traders who deposit over £10,000, the Premium Trader account offers exclusive pricing, access to events, and dedicated customer support. On their CFD account, City Index has an average spread of 0.74 pips on the EUR/USD, standing close to industry standards but trailing leading forex brokers like Tickmill and FP Markets. Active traders can benefit from rebates, with U.K. professionals earning between £4 and £7.5 per million based on trading volume, and Australian traders receiving rebates ranging from AUD $4.5 to AUD $14.5 per million. City Index boasts a 4.5-star rating and ranks 14th out of 63 brokers according to ForexBrokers.com.
In comparison, IronFX has room for improvement in pricing as its spreads are generally higher than the industry average. Their Standard variable spread account lists a typical spread of 1.8 pips, though specific date ranges are not provided and variance exists across account types. The zero fixed-spread account starts at zero pips but includes a $18 commission per lot and spreads widen to 3 pips overnight. Despite these challenges, IronFX still holds a respectable 4-star rating and is ranked 46th out of 63 brokers in the Commissions and Fees category by ForexBrokers.com.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| Minimum Deposit | £100.00 | $50 |
| Average Spread EUR/USD - Standard | 1.4 | 1.2 |
| All-in Cost EUR/USD - Active | 0.74 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
City Index and IronFX offer a variety of investment options, making them attractive choices for traders seeking diversity. Both brokers provide access to forex trading through CFDs or spot contracts, allowing clients to tap into the dynamic currency markets. City Index triumphs with a substantial array of 13,500 tradeable symbols, significantly overshadowing IronFX's offering of 340 symbols. While City Index provides access to 66 tradeable forex pairs, IronFX slightly surpasses this with 83 pairs. Notably, neither broker offers the possibility of buying exchange-traded securities directly on U.S. or international exchanges, maintaining a focus on CFDs and derivatives.
When it comes to specialized features, both City Index and IronFX enable copy trading and offer cryptocurrency derivatives, albeit without the option to purchase actual cryptocurrencies. Despite the similarities, City Index earns higher accolades for its range of investments, boasting a 5-star rating and securing the 8th spot among 63 brokers as per ForexBrokers.com. In contrast, IronFX receives a 3.5-star rating and ranks 51st in the same assessment. Ultimately, both platforms deliver varied investment opportunities, though City Index stands out for its extensive selection and higher industry ranking.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 340 |
| Forex Pairs (Total) | 66 | 83 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
When comparing the trading platforms and tools offered by City Index and IronFX, both brokers provide a range of features suitable for traders. City Index stands out with a proprietary platform developed in-house, while IronFX does not offer this feature. Both brokers provide essential services, such as simulated trading through a free virtual demo account, and access to a Windows-based desktop platform as well as a web-based platform. Additionally, they both support MetaTrader 4 but do not offer MetaTrader 5, and lack integration with DupliTrade and ZuluTrade for automated trading.
In terms of technical capabilities, City Index offers a significantly larger array of drawing tools for charting, with 239 options compared to IronFX's 15. City Index also excels in customization, offering 11 columns for watch lists versus the 7 offered by IronFX. Both brokers allow trading directly from stock charts and facilitate copy trading. Despite these similarities, City Index is highly rated at 4.5 stars for its trading platforms and tools, whereas IronFX holds a rating of 3.5 stars. This reflects in their rankings where City Index is positioned at #11 among 63 brokers by ForexBrokers.com, significantly ahead of IronFX at #61.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Drawing Tools (Total) | 239 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both City Index and IronFX offer mobile trading apps for iPhone and Android platforms, equipped with key features such as price alerts and real-time quote watchlists. However, a major distinction arises in their customer experience, as City Index provides the convenience of watchlist symbol syncing, seamlessly updating changes between the app and online platform, a service not offered by IronFX. Traders favoring technical analysis will find City Index's offering appealing due to its extensive array of 88 technical studies compared to IronFX’s 30. Both apps allow drawing trendlines and viewing multiple time frames on charts, with auto-save functionality preserving finesse edits.
City Index not only leads in functionality but also garners higher user satisfaction, achieving a 4.5-star rating for its mobile app, significantly surpassing IronFX’s 3.5 stars. Reflecting this sentiment, City Index holds the #9 position among 63 brokers on ForexBrokers.com for their mobile app offerings, whereas IronFX is positioned much lower at #62. This makes City Index a more popular choice for those prioritizing a comprehensive and integrated mobile trading experience.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
City Index and IronFX both offer daily market commentary and keep traders informed with forex news from top-tier sources like Bloomberg and Reuters. While neither broker integrates tools from Autochartist, both provide research support through Trading Central, offering valuable technical analysis options. City Index edges ahead in terms of sentiment analysis, offering a tool that showcases the ratio of long and short positions, a feature that is not available with IronFX.
Both brokers provide an economic calendar for tracking global news events, but when it comes to research ratings, City Index scores slightly higher with 4.5 stars compared to IronFX's 4 stars. This is reflected in their rankings by ForexBrokers.com, where City Index is placed at #10 out of 63 brokers, while IronFX is ranked #28. When choosing between these two for market research capabilities, City Index offers a more comprehensive suite of tools.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| 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 | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
City Index and IronFX both offer beginners a range of educational resources for forex and CFDs, including more than ten articles, videos, and webinars dedicated to these topics. One area where City Index stands out is their commitment to ongoing education through monthly online webinars, a service IronFX does not provide. Moreover, both brokers have searchable archives of recorded webinars, allowing clients to learn at their own pace. Beginners seeking video tutorials will find a comprehensive selection with both providers, as each broker offers over ten beginner-focused videos. However, for those looking for advanced educational videos, City Index takes the lead again by offering more than ten, while IronFX falls short in this aspect.
Both City Index and IronFX offer investor dictionaries with terms to enhance trading literacy, but City Index is more favorably rated and ranked for its educational offerings. City Index holds a 4.5-star rating compared to IronFX's 4 stars and is ranked significantly higher by ForexBrokers.com, coming in at 9th place as opposed to IronFX's 44th. With its consistently strong offering across various educational dimensions, City Index presents a more comprehensive learning environment for both beginners and those seeking advanced trading education.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that City Index is better than IronFX. City Index finished with an overall rank of #8, while IronFX finished with an overall rank of #48.
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.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Neither City Index nor IronFX offers the ability to buy actual delivered cryptocurrency, but both provide options to purchase cryptocurrency derivatives.
City Index offers diverse deposit and withdrawal options including ACH, SEPA, PayPal, Visa, Mastercard, and bank wires, while IronFX supports Skrill, Visa, Mastercard, and bank wires but lacks ACH, SEPA, and PayPal options, making City Index more accommodating for users seeking flexible payment methods.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | City Index | IronFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | City Index Review |
| Broker Screenshots | City Index | IronFX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | City Index | IronFX | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1983 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | City Index | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | City Index | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 340 | |
| Forex Pairs (Total) | 66 | 83 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | City Index | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.74 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | IronFX | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | City Index | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Drawing Tools (Total) | 239 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | City Index | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | IronFX | |
|---|---|---|---|
| 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 | City Index Review |
| Overall | City Index | IronFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | City Index Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill