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City Index vs OctaFX 2023

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Written by ForexBrokers.com

August 29, 2023

Is City Index better than OctaFX? In our analysis of 23 international regulators across 62 of the best forex brokers, City Index is considered Highly Trusted, with an overall Trust Score of 99 out of 99. OctaFX is considered Average-Risk, with an overall Trust Score of 70 out of 99. Learn more about Trust Score.

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Overall Rating City Index OctaFX
Overall Rating info 5/5 Stars 4/5 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 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score info 99 70
Winner check_circle
Review City Index Review OctaFX Review
Broker Screenshots City Index OctaFX
Trading Platforms Gallery (click to expand) info
City Index web platformzoom_in City Index web platform chartingzoom_in City Index web platform market viewzoom_in City Index web platform watchlistzoom_in City Index MT4 desktop trading platformzoom_in City Index AT Pro desktopzoom_in City Index AT Pro desktop chartszoom_in City Index AT Pro desktop trading systemszoom_in City Index AT Pro desktop indicator orderzoom_in
OctaFX OctaTrader web platform.zoom_in OctaFX Social Copy Trading web.zoom_in OctaFX social copy trading example strategy.zoom_in OctaFX social copy Trading Legend traders.zoom_in OctaFX copy trading strategy provider benefitszoom_in OctaFX market newszoom_in OctaFX market news update article detailzoom_in OctaFX MetaTrader 5 MT5 desktop platform.zoom_in OctaFX MT5 charts.zoom_in OctaFX-MetaTrader-5-MT5-forex-news-headlines.zoom_in OctaFX MetaTrader 5 desktop trading platform watchlistzoom_in
Mobile Trading Gallery (click to expand) info
City Index MetaTrader 4 mobile trading appzoom_in City Index MetaTrader 4 mobile trading economic calendarzoom_in City Index MetaTrader 4 mobile trading watchlistzoom_in City Index MetaTrader 4 mobile trading chartszoom_in
OctaFX MetaTrader 5 trading app watchlistzoom_in OctaFX MetaTrader 5 trading economic calendar eventszoom_in OctaFX MetaTrader 5 trading app forex news headlineszoom_in OctaFX MetaTrader 5 trading app forex news detailszoom_in OctaFX MetaTrader 5 trading app economic calendar event detailzoom_in
Research Gallery (click to expand) info
City Index YouTube channel videos.zoom_in City Index YouTube shorts.zoom_in City Index web platform research Trading Centralzoom_in City Index Web Trader Trading Central market buzz.zoom_in City Index web platform research Trading Centralzoom_in City Index web platform research Trading Centralzoom_in City Index research weekly market analysiszoom_in
OctaFX research section webzoom_in OctaFX research technical analysis articlezoom_in OctaFX YouTube webinar livestreamszoom_in OctaFX research world interest rate trackerzoom_in OctaFX education webinars YouTube playlist.zoom_in OctaFX education webinars.zoom_in
Education Gallery (click to expand) info
City Index educational articleszoom_in City Index YouTube channelzoom_in City Index YouTube channelzoom_in City Index educational videoszoom_in City Index educational course quizzes.zoom_in City Index educational videos YouTube playlist.zoom_in City Index educational courses.zoom_in
OctaFX educational articleszoom_in OctaFX FX YouTube channel archived webinarszoom_in OctaFX YouTube channelzoom_in OctaFX YouTube channelzoom_in
Regulation City Index OctaFX
Trust Score info 99 70
Year Founded info 1983 2011
Publicly Traded (Listed) info Yes No
Bank info No No
European Union Authorised (MiFID) info Yes info Yes info
Tier-1 Licenses info 7 1
Tier-2 Licenses info 1 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 0
Tier-1 Licenses (Highly Trusted) City Index OctaFX
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
European Union Authorised (MiFID) info Yes info Yes info
Tier-2 Licenses (Trusted) City Index OctaFX
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No Yes
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments City Index OctaFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 13500 229
Forex Pairs (Total) info 84 40
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 OctaFX
Average Spread EUR/USD - Standard info 1.4 info 0.9 info
All-in Cost EUR/USD - Active info 0.74 info N/A
Active Trader or VIP Discounts info Yes No
Inactivity Fee info Yes No
Execution: Agency Broker info No Yes
Execution: Market Maker info Yes Yes
Funding City Index OctaFX
Minimum Deposit info £100.00 $25
PayPal (Deposit/Withdraw) info Yes No
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms City Index OctaFX
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools City Index OctaFX
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 11 7
Charting - Indicators / Studies (Total) info 88 30
Charting - Drawing Tools (Total) info 239 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading City Index OctaFX
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 88 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Forex Calendar info Yes Yes
Research City Index OctaFX
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central (Recognia) info Yes No
Social Sentiment - Currency Pairs info Yes No
Economic Calendar info Yes Yes
Education City Index OctaFX
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs City Index OctaFX
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review City Index Review OctaFX Review
Overall City Index OctaFX
Overall Rating info 5/5 Stars 4/5 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 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score info 99 70
Winner check_circle
Review City Index Review OctaFX Review
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City Index vs OctaFX 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 OctaFX.

Does City Index or OctaFX 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 OctaFX 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. City Index holds 7 global Tier-1 licenses, while OctaFX holds 1. Both City Index and OctaFX hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, City Index (99) earned a higher Trust Score than OctaFX (70).

Which trading platform is better: City Index or OctaFX?

To compare the trading platforms of both City Index and OctaFX, 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. Both City Index and OctaFX offer MetaTrader 4 (MT4).City Index and OctaFX 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 OctaFX's 40 available pairs. Forex pairs aside, City Index offers traders access to 13500 CFDs while OctaFX has 229 available CFDs, a difference of 13271.

Can I trust City Index?

City Index is publicly traded, does not operate a bank, and is authorised by seven Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Rier-3 regulator (Average Risk), and one Tier-4 regulator (High Risk). City Index is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), Canadian Investment Regulatory Organization (CIRO), Japanese Financial Services Authority (JFSA), Commodity Futures Trading Commission (CFTC), Financial Conduct Authority (FCA), and the European Union via MiFID.

Can I trust OctaFX?

OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by one Tier-1 regulator (high trust), one Tier-2 regulator (average trust), zero Tier-3 regulators (low trust), and zero Tier-4 regulators (High Risk). OctaFX is authorised by the following tier-1 regulators: European Union via MiFID.

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 OctaFX good?

OctaFX offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.

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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