OANDA vs City Index Review
Is City Index better than OANDA? After assessing forex brokers on nearly 100 different variables, City Index is better than OANDA. Beyond its extensive range of products, multi-asset traders can confidently choose City Index for competitive spreads, premium research tools, and versatile charting including mobile, all under the backing of GAIN Capital, which is one of the largest retail brokers globally.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. City Index received a rating of 4.50 stars over OANDA's 4.00 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. City Index and OANDA both are regulated in a major hub. City Index is a publicly traded company while OANDA is not. As far as how many currency pairs are available for trading, here's the answer. City Index offers its clients access to 84 different currency pairs while OANDA has 71 available pairs, a difference of 13.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. City Index alongside OANDA offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. City Index trails OANDA by 6 total charting tools, with OANDA offering 31 and City Index offering 25. OANDA trails City Index by 88 total different indicators (for example, moving averages), with City Index offering 139 and OANDA offering 51.
City Index Review
OANDA Review
Trading CFDs, FX, and cryptocurrencies involves 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 web site as of 02/18/2019 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.
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.
