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 account | 1.4 | 1.69 |
| 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.
City Index vs OANDA for range of investments: both let you trade forex as CFDs and/or spot and both support copy trading. If you want sheer variety, City Index lists about 13,500 tradable symbols, including 66 forex pairs and crypto via CFDs (but not delivered coins). OANDA offers around 4,172 symbols and a slightly larger set of 69 forex pairs. Where OANDA stands out is access to exchange-traded securities: you can buy real stocks on U.S. and international exchanges, and you can also buy actual cryptocurrency in addition to crypto CFDs. City Index does not offer real, exchange-listed shares or delivered crypto.
Independent ratings back this up. For Range of Investments, ForexBrokers.com gives City Index 5 stars and ranks it #8 out of 63 brokers, while OANDA earns 4 stars and ranks #28. In short: pick City Index if you want a very large CFD lineup and a big symbol list; choose OANDA if owning real stocks and delivered crypto alongside forex is important to you.
| 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 check the key boxes for trading platforms and tools. Each provides a free demo account for paper trading, an in-house platform, a downloadable Windows desktop app, and a web-based platform. You can place trades directly from charts on both, and copy trading is available. MetaTrader 4 (MT4) is supported by both brokers; MetaTrader 5 (MT5) is available at OANDA, but not at City Index—helpful if you prefer MT5’s expanded features.
In independent testing, City Index earns 4.5 stars for Trading Platforms and Tools and ranks #11 out of 63 brokers on ForexBrokers.com, while OANDA scores 4 stars and ranks #15. Choose City Index if you want a slightly higher-rated, well-rounded platform lineup; pick OANDA if MT5 access alongside MT4 is a priority. Either way, the demo accounts make it easy to try their platforms risk-free.
| 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 iPhone and Android trading apps with price alerts, trendline drawing, and auto-saved chart annotations. A key difference is watchlists: City Index syncs symbols between the mobile app and your online account, while OANDA does not, which may matter if you switch devices often.
For charting depth, City Index provides 88 technical studies compared with OANDA’s 30. In independent testing, OANDA earned 5 stars and ranked #7 out of 63 brokers for Mobile Trading Apps, while City Index scored 4.5 stars and ranked #9. In short, OANDA shines for overall app quality, whereas City Index stands out if you want more built-in indicators plus watchlist syncing.
| 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 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 (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 make it easy for beginners to learn the basics of forex and CFD trading. Each broker clears the bar for having a sizable education library, offering at least 10 beginner videos and at least 10 advanced videos, along with client webinars held at least once a month. For new traders, that means a steady mix of step-by-step lessons, strategy explainers, and live sessions where you can learn in real time.
When it comes to third‑party evaluations, OANDA earns a higher education rating at 5 out of 5 stars, while City Index is close behind at 4.5 out of 5. However, in ForexBrokers.com’s Education category rankings, City Index sits higher at #9 out of 63 brokers, compared with OANDA at #19. In short, both are strong choices for beginner education: OANDA gets the top score, while City Index holds a better placement in the category rankings.
| 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 #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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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 | 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 (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 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. 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 | 1.69 | |
| 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 | 93 | |
| Winner | check_circle | ||
| Review | City Index Review | OANDA Review |
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