Is City Index better than OANDA? In our analysis of 23 international regulators across 50 brokers, City Index is considered low-risk, with an overall Trust Score of 93 out of 99. OANDA is considered low-risk, with an overall Trust Score of 89 out of 99. Learn more about Trust Score.
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City Index vs OANDA 2021
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall Rating
| Feature | City Index | OANDA |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 99 | 91 |
| City Index Review | OANDA Review | |
| 70% of retail CFD accounts lose money | 76.6% of retail CFD accounts lose money |
Regulation
| Feature | City Index | OANDA |
| Trust Score | 99 | 91 |
|
Year Founded |
1983 | 1996 |
|
Publicly Traded (Listed) |
Yes | No |
|
Bank |
No | No |
|
Tier-1 Licenses |
3 | 6 |
|
Tier-2 Licenses |
1 | 0 |
|
Tier-3 Licenses |
1 | 1 |
|
Authorised in the European Union |
Yes | Yes |
Tier-1 Licenses (High Trust)
| Feature | City Index | OANDA |
|
ASIC Authorised (Australia) |
Yes | Yes |
|
IIROC Authorised (Canada) |
No | Yes |
|
SFC Authorised (Hong Kong) |
No | No |
|
FSA Authorised (Japan) |
No | Yes |
|
MAS Authorised (Singapore) |
Yes | Yes |
|
FINMA Authorised (Switzerland) |
No | No |
|
FCA Authorised (UK) |
Yes | Yes |
|
CFTC Registered (USA) |
No | Yes |
Tier-2 Licenses (Average Trust)
| Feature | City Index | OANDA |
|
CBRC Authorised (China) |
No | No |
|
CySEC Authorised (Cyprus) |
Yes | No |
|
CBI Authorised (Ireland) |
No | No |
|
ISA Authorised (Israel) |
No | No |
|
FMA Authorised (New Zealand) |
No | No |
|
CBR Authorised (Russia) |
No | No |
|
FSCA Authorised (South Africa) |
No | No |
|
SEC Authorised (Thailand) |
No | No |
Tier-3 Licenses (Low Trust)
| Feature | City Index | OANDA |
| SCB Authorised (Bahamas) | No | No |
| IFSC Authorised (Belize) | No | No |
| BMA Authorised (Bermuda) | No | No |
|
FSC Authorised (British Virgin Islands) |
No | Yes |
|
FSC Authorised (Mauritius) |
No | No |
Investments
| Feature | City Index | OANDA |
|
Forex Trading |
Yes | Yes |
|
CFD Trading |
Yes | Yes |
|
Tradeable Symbols (Total) |
4500 | 124 |
|
Forex Pairs (Total) |
65 | 71 |
|
US Stock Trading (Non CFD) |
No | No |
|
Int'l Stock Trading (Non CFD) |
No | No |
|
Cryptocurrency (Physical) |
No | No |
|
Cryptocurrency (CFD) |
Yes | Yes |
|
Social Trading / Copy-Trading |
Yes | Yes |
Cost
| Feature | City Index | OANDA |
|
Average Spread EUR/USD - Standard |
1.1 (Aug 2020) | 1.4 (August 2021) |
|
All-in Cost EUR/USD - Active |
1.1 (Aug 2020) | 1.4 (August 2021) |
|
Active Trader or VIP Discounts |
Yes | Yes |
|
Execution: Agency Broker |
No | No |
|
Execution: Market Maker |
Yes | Yes |
Funding
| Feature | City Index | OANDA |
|
Minimum Deposit |
£50.00 | $0.00 |
|
Bank Wire (Deposit/Withdraw) |
Yes | Yes |
|
Visa/Mastercard (Credit/Debit) |
Yes | Yes |
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PayPal (Deposit/Withdraw) |
Yes | Yes |
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Skrill (Deposit/Withdraw) |
No | Yes |
Trading Platforms
| Feature | City Index | OANDA |
|
Proprietary Platform |
Yes | Yes |
|
Desktop Platform (Windows) |
Yes | Yes |
|
Web Platform |
Yes | Yes |
|
Social Trading / Copy-Trading |
Yes | Yes |
|
MetaTrader 4 (MT4) |
Yes | Yes |
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MetaTrader 5 (MT5) |
No | No |
|
cTrader |
No | No |
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DupliTrade |
No | No |
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ZuluTrade |
No | Yes |
Trading Tools
| Feature | City Index | OANDA |
|
Virtual Trading (Demo) |
Yes | Yes |
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Alerts - Basic Fields |
Yes | Yes |
|
Watchlists - Total Fields |
20 | 6 |
|
Charting - Indicators / Studies (Total) |
139 | 81 |
|
Charting - Drawing Tools (Total) |
269 | 431 |
|
Charting - Trade From Chart |
Yes | Yes |
|
Charting - Drawings Autosave |
Yes | Yes |
|
Order Type - Trailing Stop |
Yes | Yes |
Mobile Trading
| Feature | City Index | OANDA |
|
Android App |
Yes | Yes |
|
Apple iOS App |
Yes | Yes |
|
Alerts - Basic Fields |
Yes | Yes |
|
Watch List |
Yes | Yes |
|
Watch List Syncing |
Yes | No |
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Charting - Indicators / Studies |
88 | 33 |
|
Charting - Draw Trendlines |
Yes | Yes |
|
Charting - Trendlines Moveable |
No | Yes |
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Charting - Multiple Time Frames |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | Yes |
|
Forex Calendar |
Yes | Yes |
Research
| Feature | City Index | OANDA |
|
Daily Market Commentary |
Yes | Yes |
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Forex News (Top-Tier Sources) |
Yes | Yes |
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Weekly Webinars |
No | Yes |
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Autochartist |
No | Yes |
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Trading Central (Recognia) |
Yes | No |
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Delkos Research |
No | No |
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Social Sentiment - Currency Pairs |
Yes | Yes |
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Economic Calendar |
Yes | Yes |
Education
| Feature | City Index | OANDA |
|
Has Education - Forex or CFDs |
Yes | Yes |
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Client Webinars |
Yes | Yes |
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Client Webinars (Archived) |
Yes | Yes |
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Videos - Beginner Trading Videos |
Yes | Yes |
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Videos - Advanced Trading Videos |
Yes | Yes |
|
Investor Dictionary (Glossary) |
Yes | Yes |
Major Forex Pairs
| Feature | City Index | OANDA |
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GBP/USD |
Yes | Yes |
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USD/JPY |
Yes | Yes |
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EUR/USD |
Yes | Yes |
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USD/CHF |
Yes | Yes |
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USD/CAD |
Yes | Yes |
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NZD/USD |
Yes | Yes |
|
AUD/USD |
Yes | Yes |
Overall
| Feature | City Index | OANDA |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 99 | 91 |
| City Index Review | OANDA Review |
Comparing forex brokers side by side is no easy task. For our 2021 annual forex broker review, we spent hundreds of hours assessing 27 forex and CFD brokerages to find the best forex broker. Let's compare City Index vs OANDA.
Does City Index or OANDA offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, City Index offers better pricing overall for traders.
Is City Index or OANDA safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. OANDA holds 6 global Tier-1 licenses, while City Index holds 3. City Index holds 1 global Tier-2 licenses, while OANDA holds 0. In our analysis of 23 international regulators across 50 brokers, City Index earned a higher Trust Score than OANDA.
Which trading platform is better: City Index or OANDA?
To compare the trading platforms of both City Index and OANDA, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, City Index offers a better experience. With research, City Index offers superior market research. Finally, we found City Index to provide better mobile trading apps.
What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. City Index and OANDA both offer copy trading. Both City Index and OANDA offer MetaTrader 4 (MT4).
How many forex pairs and CFDs are available to trade?
OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to City Index's 65 available pairs. Forex pairs aside, City Index offers traders access to 4500 CFDs while OANDA has 124 available CFDs, a difference of 4,376.
Can I trust City Index?
City Index is publicly traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust). City Index is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), and the Financial Conduct Authority (FCA).
Can I trust OANDA?
OANDA is not publicly traded and does not operate a bank. OANDA is authorised by six tier-1 regulators (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust). OANDA is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).
Is City Index good?
Backed by GAIN Capital, City Index is a trusted brand that traders choose for its advanced trading platforms, excellent mobile app, diverse market research, education, and extensive range of markets.
Is OANDA good?
As a trusted global brand, OANDA provides forex and CFD traders a limited offering of FX pairs and CFDs but stands out for its reputation and quality market research.
Overall winner: City Index
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Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
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OANDA - CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
