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 and OANDA are both reputable options for online trading, each with unique credentials. Founded in 1983, City Index boasts a long history and is publicly traded, which can offer added transparency. On the regulatory front, City Index holds an impressive 7 Tier-1 licenses, indicating high trust, alongside 1 Tier-2 license. This solidifies its impeccable Trust Score of 99 out of 99 according to ForexBrokers.com, suggesting extremely high reliability in the eyes of traders and investors.
OANDA, established in 1996, while not publicly traded, maintains a strong standing with 7 Tier-1 licenses, indicating it is highly trusted. Although lacking Tier-2 licenses, OANDA still achieves a commendable Trust Score of 93 out of 99. Despite fewer licenses compared to City Index, OANDA's score reflects its focus on maintaining trust and security within the trading community.
| 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 vs. OANDA: commissions and fees. City Index earns 4.5/5 stars and ranks #15 of 63 for Commissions and Fees, while OANDA scores 4/5 stars and ranks #35 of 63. In general, City Index’s pricing sits near the industry average and often looks sharper than OANDA’s default pricing, whereas OANDA’s costs are typically higher unless you opt into its commission-based core pricing. Both brokers offer rebates for high-volume traders.
City Index: For CFDs, forex, and spread betting, City Index pricing is in line with the market. You’ll usually get the best rates on City Index’s own platforms or MetaTrader. Its average EUR/USD spread was 0.74 pips (July 2023), which keeps all-in costs near the industry average, though not the very lowest. Active traders who deposit over £10,000 may qualify for the Premium Trader account with exclusive pricing and dedicated service. Rebates for U.K. professional clients start at £4 per million when trading over £25M per month and rise to £7.5 per million above £300M; in Australia, rebates range from AUD $4.5 to $14.5 per million across tiers.
OANDA: OANDA’s forex costs are generally on the high side. Its average non-core EUR/USD spread was 1.61 pips in July 2024. Core pricing lowers the spread but adds a commission of $5 per $100,000 per side (about $10 per round turn), with a $10,000 minimum deposit; using the firm’s example, that can bring EUR/USD all-in cost to about 1.4 pips versus 1.6 pips under default pricing. OANDA also stands out for micro-trading down to 1 unit and an Elite Trader program that pays $5–$17 per million in rebates (plus possible TradingView subscription reimbursements in select regions). It publishes trailing average spreads for transparency, though the lack of fixed-period averages can make apples-to-apples comparisons harder.
| Feature |
City Index
|
OANDA
|
|---|---|---|
| Minimum Deposit | £100.00 | $0 |
| Average Spread EUR/USD - Standard | 1.4 | 1.69 |
| All-in Cost EUR/USD - Active | 0.74 | 1.69 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| 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 vs OANDA for range of investments: both support forex trading as CFDs or spot. City Index offers a far wider market selection with about 13,500 tradeable symbols, while OANDA lists 4,172. OANDA edges City Index on currency selection with 69 forex pairs versus 66. For share dealing, OANDA offers exchange-traded securities on both U.S. and international exchanges, whereas City Index does not offer direct stock purchases. Both provide copy trading and crypto derivatives; only OANDA lets you buy actual cryptocurrency.
Independent ratings reflect this mix: City Index scores 5 stars and ranks 8th out of 63 brokers for range of investments, while OANDA earns 4 stars and ranks 28th. Pick City Index if you want the largest overall menu of markets; choose OANDA if you want slightly more forex pairs plus access to real stocks and delivered crypto (availability may vary by region).
| Feature |
City Index
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 4172 |
| Forex Pairs (Total) | 66 | 69 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | Yes |
| 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.
City Index and OANDA both cover the essentials for traders who want choice and convenience. Each broker offers a free demo (paper) account, an in-house platform, Windows desktop software, and a web-based platform. You can trade directly from charts on both, and each supports MetaTrader 4 (MT4) as well as copy trading. Neither integrates ZuluTrade. One key difference: OANDA also supports MetaTrader 5 (MT5), which may appeal if you want MT5’s newer features.
If watchlist customization matters, City Index offers 11 columns versus OANDA’s 6. Independent ratings echo these nuances: City Index earns 4.5 out of 5 stars and ranks #11 out of 63 for Trading Platforms and Tools at ForexBrokers.com, while OANDA earns 4 stars and ranks #15. In short, pick OANDA if you need MT5, and consider City Index if you want more watchlist fields and a slightly higher-rated toolkit.
| Feature |
City Index
|
OANDA
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade [DELETED] | ||
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 89 |
| Charting - Drawing Tools (Total) [DELETED] | ||
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of City Index and OANDA, both brokers offer apps for iPhone and Android devices, ensuring accessibility across the board. Both apps also support price alerts, allowing traders to stay informed about market movements in real time. However, while City Index shines with 88 technical studies available for its charts, OANDA offers 30, making City Index a better choice for those who rely heavily on chart analysis. One key difference lies in watchlist syncing: City Index allows watchlists to sync with a client’s online account, whereas OANDA does not, potentially impacting traders who switch between devices frequently.
Both City Index and OANDA support drawing trendlines and viewing charts in multiple time frames, which is useful for detailed market analysis. They also auto-save drawings on charts, making it easy to continue analysis without losing previous work. Moreover, creating watchlists with real-time quotes is possible on both apps. Despite City Index offering more in terms of technical analysis features, OANDA fares slightly better in user ratings, achieving 5 stars compared to City Index’s 4.5 stars. In rankings, OANDA stands at #7, slightly ahead of City Index at #9 in the ForexBrokers.com Mobile Trading Apps category, which suggests that OANDA's user experience and overall satisfaction could outweigh City Index's feature-rich offering for some traders.
| Feature |
City Index
|
OANDA
|
|---|---|---|
| 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 OANDA both cover the essentials for market research. Each broker publishes daily market commentary, streams forex news from leading providers such as Bloomberg, Reuters, and Dow Jones, and includes a sentiment tool that shows the long/short split across instruments. An economic calendar is also standard at both, helping traders track upcoming events and data releases.
Where they differ is in the research toolkits. City Index features Trading Central analytics, while OANDA offers Autochartist for pattern recognition and trade ideas; neither provides TipRanks or Acuity Trading (Signal Centre). According to ForexBrokers.com, OANDA holds a slight edge for Research with a 5-star rating and a #4 rank out of 63 brokers, compared with City Index at 4.5 stars and #10. If you prefer Autochartist, OANDA may fit better; if you want Trading Central, City Index is the pick—both are strong choices for timely news and insights.
| Feature |
City Index
|
OANDA
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
City Index and OANDA both deliver beginner-friendly forex and CFD education. Each provides well over 10 learning pieces—articles, videos, and archived webinars—plus live client webinars at least once a month. Both brands maintain a searchable archive of past sessions, offer at least 10 beginner videos and 10 advanced videos, and include an investor dictionary with 50+ definitions, making it easier to learn terms and build skills step by step.
On scoring, OANDA earns 5 stars for Education, while City Index scores 4.5 stars. In ForexBrokers.com’s Education category, City Index ranks #9 of 63 brokers and OANDA ranks #19 of 63. In short, you’ll find similar depth of materials at both; choose OANDA if you want the highest star rating, or City Index if you prefer a provider that places higher in the category ranking. Either way, both are solid choices for beginners seeking structured forex and CFD education with webinars, videos, and a handy glossary.
| Feature |
City Index
|
OANDA
|
|---|---|---|
| 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 |
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 #12.
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
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OANDA
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 93 |
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When comparing online brokers City Index and OANDA, OANDA provides the option to purchase actual delivered cryptocurrency, while both City Index and OANDA offer the ability to trade cryptocurrency derivatives.
Both City Index and OANDA provide multiple options for depositing and withdrawing funds, including ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires, but while OANDA also supports Skrill, City Index does not.
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 | 93 | |
| 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 | 93 | |
| 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 (SFC 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 SCA 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. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | Yes | |
| 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 | OANDA | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 1.69 | |
| All-in Cost EUR/USD - Active | 0.74 | 1.69 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | OANDA | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | City Index | OANDA | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade [DELETED] | |||
| ZuluTrade | No | No |
| Trading Tools | City Index | OANDA | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 6 | |
| Charting - Indicators / Studies (Total) | 88 | 89 | |
| Charting - Drawing Tools (Total) [DELETED] | |||
| 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 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 | OANDA | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | OANDA | |
|---|---|---|---|
| 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 Pairs | City Index | OANDA | |
|---|---|---|---|
| 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 | OANDA Review |
| Overall | City Index | OANDA | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | City Index Review | OANDA Review |
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