Written by ForexBrokers.com
In this head to head comparison of City Index vs OANDA, 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 vs OANDA: City Index was founded in 1983 and is publicly traded, while OANDA was founded in 1996 and is not publicly traded. Neither broker is a bank.
Regulation and trust: Both brokers hold seven Tier-1 licenses (considered highly trusted by ForexBrokers.com). City Index also holds one Tier-2 license; OANDA has none. ForexBrokers.com Trust Scores are City Index 99 and OANDA 92—both in the 90–99 “highly trusted” range (80–89 trusted, 70–79 average risk, 60–69 high risk, under 59 not trusted).
| Feature |
City Index
|
OANDA
|
|---|---|---|
| Year Founded | 1983 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 7 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
City Index and OANDA both offer trading costs that can vary based on account type and trading style, but City Index is the cheaper choice overall for most traders. City Index’s commissions and fees are in line with the industry average for CFDs, forex, and spread betting, and the best rates are usually available on its own platform or MetaTrader. It earns 4.5 out of 5 stars and is ranked #16 out of 36 for commissions and fees by ForexBrokers.com.
OANDA, by comparison, tends to be more expensive on forex pricing, with spreads that are often higher than the best low-cost brokers. Its core pricing can reduce spreads, but it adds a commission of $5 per side per $100,000 traded, and that plan requires a $10,000 minimum deposit. OANDA does offer small-trade flexibility, active trader rebates in some regions, and clear spread reporting, but its overall cost structure is still less competitive. It is rated 4 out of 5 stars and ranked #31 out of 36.
For traders who want lower everyday pricing, City Index has the edge over OANDA. OANDA may appeal to active traders who want commission-based pricing, micro-lot access, and rebate programs, but City Index is the better pick if your main goal is keeping commissions and fees closer to the market average.
| Feature |
City Index
|
OANDA
|
|---|---|---|
| Minimum Deposit | £100.00 | $0 |
| Average spread (EUR/USD) - Standard account | 1.4 | 1.68 |
| All-in Cost EUR/USD - Active | 0.9 | 1.69 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to range of investments, City Index offers a wider overall selection than OANDA, with 13,500 tradeable symbols compared with OANDA’s 4,172. City Index also gives traders access to 66 forex pairs, while OANDA lists 69, so OANDA has a slight edge in currency pairs. Both brokers support forex trading, offer copy trading, and let clients trade cryptocurrency CFDs.
The bigger difference is in the types of assets available outside forex. OANDA lets clients buy actual shares on both U.S. and international exchanges, and it also offers the option to buy delivered cryptocurrency. City Index does not offer these direct share or spot crypto products. Based on ForexBrokers.com ratings, City Index scores 5 stars for range of investments and ranks #8 out of 36 brokers, while OANDA earns 4.5 stars and ranks #20.
| Feature |
City Index
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 4172 |
| Forex Pairs (Total) | 66 | 69 |
| U.S. Stocks (Shares) | No | Yes |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | Yes |
| Cryptocurrency (CFDs) | 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.
City Index and OANDA both give traders a good mix of platform choices, including free demo accounts for practice, a web-based platform, a Windows desktop app, a proprietary platform, copy trading, and MetaTrader 4. Both also let you place trades straight from a chart, which can make active trading easier. The main difference is that OANDA also supports MetaTrader 5, while City Index does not.
In platform and tools testing, City Index comes out slightly ahead. It is rated 4.5 out of 5 stars and ranked #11 out of 36 brokers by ForexBrokers.com, compared with OANDA’s 4 out of 5 stars and #16 ranking. For traders who want a slightly stronger all-around platform setup, City Index has the edge, while OANDA may appeal to those who want MT5 support alongside a similar range of tools.
| Feature |
City Index
|
OANDA
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 89 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and OANDA both offer mobile trading apps for iPhone and Android, along with price alerts, trendline drawing, and auto-saving of chart drawings. That means either broker can work well for traders who want to monitor the market and manage trades on the go. Both apps cover the basics well, so the better choice may come down to the details that matter most to your trading style.
City Index has a clear edge in charting and account syncing, offering 88 technical studies in its mobile app and watchlist symbol syncing between the app and your online account. OANDA provides 30 technical studies and does not sync watchlists across devices, but it still earns a higher mobile trading app rating at 5 stars versus City Index’s 4.5 stars. In ForexBrokers.com rankings, OANDA also places slightly higher, coming in at #7 out of 36 brokers compared with City Index at #9.
| Feature |
City Index
|
OANDA
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
City Index and OANDA both give traders useful market research tools, including daily market commentary, news from major outlets like Bloomberg and Reuters, sentiment data, and an economic calendar for tracking global events. This means both brokers make it easier to follow the forex market and stay updated on what may move prices.
The main difference is in their third-party research tools. City Index offers Trading Central, while OANDA includes Autochartist instead. OANDA also scores higher for research overall, with a 5-star rating and a #4 ranking out of 36 brokers from ForexBrokers.com, compared with City Index’s 4.5-star rating and #10 ranking. For traders who want the stronger research setup, OANDA has the edge, though City Index still provides a solid range of market insights.
| Feature |
City Index
|
OANDA
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
City Index and OANDA both give beginners a strong place to start learning about forex and CFDs. Each broker offers at least 10 education pieces focused on these markets, plus online client webinars at least once a month. They also both provide at least 10 beginner videos and 10 advanced videos, so traders can move from basic ideas to more detailed topics as their skills grow.
Where they differ is in overall education ratings and rank. OANDA scores 5 stars for Education, while City Index scores 4.5 stars. Even so, City Index is ranked higher by ForexBrokers.com in the Education category, placing 9th out of 36 brokers, compared with OANDA at 18th. For beginners, that means both brokers offer plenty of learning material, but City Index edges ahead in category ranking while OANDA leads on star rating.
| Feature |
City Index
|
OANDA
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 OANDA. City Index finished with an overall rank of #8, while OANDA finished with an overall rank of #13.
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 |
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OANDA
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| Trust Score | 99 | 92 |
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In the City Index vs OANDA comparison for cryptocurrency trading, City Index provides crypto exposure via CFDs only and does not offer delivered coins, while OANDA supports buying actual cryptocurrencies and trading crypto CFDs.
City Index vs OANDA: both brokers support ACH/SEPA transfers, PayPal, and bank wire funding, but only OANDA offers Skrill, while Visa/Mastercard availability is not specified for either.
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.
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0 of 5| Overall Rating | City Index | OANDA | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | City Index Review | OANDA Review |
| Broker Screenshots | City Index | OANDA | |
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| Regulation | City Index | OANDA | |
|---|---|---|---|
| Trust Score | 99 | 92 | |
| Year Founded | 1983 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 7 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | City Index | OANDA | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | City Index | OANDA | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | City Index | OANDA | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 4172 | |
| Forex Pairs (Total) | 66 | 69 | |
| U.S. Stocks (Shares) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | Yes | |
| Cryptocurrency (CFDs) | 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 | OANDA | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.4 | 1.68 | |
| All-in Cost EUR/USD - Active | 0.9 | 1.69 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | City Index | OANDA | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | City Index | OANDA | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | City Index | OANDA | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 88 | 89 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | OANDA | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | City Index | OANDA | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | OANDA | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | City Index | OANDA | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | City Index Review | OANDA Review |
| Overall | City Index | OANDA | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | City Index Review | OANDA Review |
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