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City Index vs OANDA 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is City Index better than OANDA? In our analysis of 23 international regulators across 62 of the best forex brokers, City Index is considered low-risk, with an overall Trust Score of 99 out of 99. OANDA is considered low-risk, with an overall Trust Score of 92 out of 99. Learn more about Trust Score.

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Overall RatingCity IndexOANDA
Overall Rating 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4.5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 4.5/5 Stars 4.5/5 Stars
Education 4.5/5 Stars 4/5 Stars
Trust Score 99 92
Winner check_circle
Review City Index Review OANDA Review
RegulationCity IndexOANDA
Trust Score 99 92
Year Founded 1983 1996
Publicly Traded (Listed) Yes No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 3 6
Tier-2 Licenses 2 0
Tier-3 Licenses 1 1
Tier-1 Licenses (High Trust)City IndexOANDA
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) Yes Yes
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) No Yes
MAS Authorised (Singapore) Yes Yes
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) No Yes
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)City IndexOANDA
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) Yes No
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes No
Tier-3 Licenses (Low Trust)City IndexOANDA
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) Yes No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No Yes
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsCity IndexOANDA
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 13500 124
Forex Pairs (Total) 84 71
U.S. Stock Trading (Non CFD) No No
Int'l Stock Trading (Non CFD) No No
Social Trading / Copy Trading Yes Yes
Cryptocurrency (Physical) No Yes
Cryptocurrency (CFD) 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).
CostCity IndexOANDA
Average Spread EUR/USD - Standard 1.0 info 1.26 info
All-in Cost EUR/USD - Active 1.0 info 1.26 info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker No No
Execution: Market Maker Yes Yes
FundingCity IndexOANDA
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
Trading PlatformsCity IndexOANDA
Proprietary 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 No No
ZuluTrade No Yes
Trading ToolsCity IndexOANDA
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 11 6
Charting - Indicators / Studies (Total) 88 81
Charting - Drawing Tools (Total) 81 431
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingCity IndexOANDA
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 33
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes Yes
ResearchCity IndexOANDA
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist No Yes
Trading Central (Recognia) Yes No
Social Sentiment - Currency Pairs Yes Yes
Economic Calendar Yes Yes
EducationCity IndexOANDA
Has 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 PairsCity IndexOANDA
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
OverallCity IndexOANDA
Overall Rating 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4.5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 4.5/5 Stars 4.5/5 Stars
Education 4.5/5 Stars 4/5 Stars
Trust Score 99 92
Winner check_circle
Review City Index Review OANDA Review
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City Index vs OANDA Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 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 23 international regulator databases. Here's our findings. OANDA holds 6 global Tier-1 licenses, while City Index holds 3. City Index holds 2 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, OANDA 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. Both City Index and OANDA offer MetaTrader 4 (MT4).City Index and OANDA both offer copy trading.

How many forex pairs and CFDs are available to trade?

City Index provides traders 84 currency pairs (e.g., EUR/USD) compared to OANDA's 71 available pairs. Forex pairs aside, City Index offers traders access to 13500 CFDs while OANDA has 124 available CFDs, a difference of 13376.

Can I trust City Index?

City Index is publicly traded, does not operate a bank, and is authorised by four tier-1 regulators (high trust), two 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 one 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 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.

Is OANDA good?

A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.

Overall winner: City Index

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announcementPlease 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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