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Saxo Bank vs City Index 2021

Is City Index better than Saxo Bank? 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. Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.


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.

Overall Rating

Feature Saxo Bank City Index
Overall 5 4.5
Commissions & Fees 5 3.5
Offering of Investments 5 5
Platforms & Tools 5 4.5
Mobile Trading 5 4.5
Research 5 4.5
Education 4 4.5
Trust Score 99 99
Saxo Bank Review City Index Review
64% of retail CFD accounts lose money 70% of retail CFD accounts lose money

Regulation

Feature Saxo Bank City Index
Trust Score 99 99
Year Founded
1992 1983
Publicly Traded (Listed)
No Yes
Bank
Yes No
Tier-1 Licenses
6 3
Tier-2 Licenses
1 1
Tier-3 Licenses
0 1
Authorised in the European Union
Yes Yes

Tier-1 Licenses (High Trust)

Feature Saxo Bank City Index
ASIC Authorised (Australia)
Yes Yes
IIROC Authorised (Canada)
No No
SFC Authorised (Hong Kong)
Yes No
FSA Authorised (Japan)
Yes No
MAS Authorised (Singapore)
Yes Yes
FINMA Authorised (Switzerland)
Yes No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
No No

Tier-2 Licenses (Average Trust)

Feature Saxo Bank City Index
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
Yes Yes
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)
Yes No
SEC Authorised (Thailand)
No No

Tier-3 Licenses (Low Trust)

Feature Saxo Bank City Index
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands)
No No
FSC Authorised (Mauritius)
No No

Investments

Feature Saxo Bank City Index
Forex Trading
Yes Yes
CFD Trading
Yes Yes
Tradeable Symbols (Total)
9000 4500
Forex Pairs (Total)
170 65
US Stock Trading (Non CFD)
Yes No
Int'l Stock Trading (Non CFD)
Yes No
Cryptocurrency (Physical)
No No
Cryptocurrency (CFD)
Yes Yes
Social Trading / Copy-Trading
Yes Yes

Cost

Feature Saxo Bank City Index
Average Spread EUR/USD - Standard
0.8 (August 2020) 1.1 (Aug 2020)
All-in Cost EUR/USD - Active
0.6 (August 2020) 1.1 (Aug 2020)
Active Trader or VIP Discounts
Yes Yes
Execution: Agency Broker
Yes No
Execution: Market Maker
Yes Yes

Funding

Feature Saxo Bank City Index
Minimum Deposit
$10,000.00 £50.00
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
No Yes
Skrill (Deposit/Withdraw)
No No

Trading Platforms

Feature Saxo Bank City Index
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 No
cTrader
No No
DupliTrade
No No
ZuluTrade
No No

Trading Tools

Feature Saxo Bank City Index
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
58 18
Charting - Indicators / Studies (Total)
58 139
Charting - Drawing Tools (Total)
19 25
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes

Mobile Trading

Feature Saxo Bank City Index
Android App
Yes Yes
Apple iOS App
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes Yes
Charting - Indicators / Studies
58 88
Charting - Draw Trendlines
Yes Yes
Charting - Trendlines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes Yes

Research

Feature Saxo Bank City Index
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
No No
Autochartist
Yes No
Trading Central (Recognia)
No Yes
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes

Education

Feature Saxo Bank City Index
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 Pairs

Feature Saxo Bank City Index
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

Overall

Feature Saxo Bank City Index
Overall 5 4.5
Commissions & Fees 5 3.5
Offering of Investments 5 5
Platforms & Tools 5 4.5
Mobile Trading 5 4.5
Research 5 4.5
Education 4 4.5
Trust Score 99 99
Saxo Bank Review City Index 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 Saxo Bank.

Does City Index or Saxo Bank 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, Saxo Bank offers better pricing overall for traders.

Is City Index or Saxo Bank 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. Saxo Bank holds 6 global Tier-1 licenses, while City Index holds 3. Both City Index and Saxo Bank hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, City Index and Saxo Bank earned the same Trust Score.

Which trading platform is better: City Index or Saxo Bank?
To compare the trading platforms of both City Index and Saxo Bank, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo Bank offers a better experience. With research, Saxo Bank offers superior market research. Finally, we found Saxo Bank 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 Saxo Bank both offer copy trading. Both City Index and Saxo Bank offer MetaTrader 4 (MT4).

How many forex pairs and CFDs are available to trade?
Saxo Bank provides traders 170 currency pairs (e.g., EUR/USD) compared to City Index's 65 available pairs. Forex pairs aside, Saxo Bank offers traders access to 9000 CFDs while City Index has 4500 available CFDs, a difference of 4,500.

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 Saxo Bank?
Saxo Bank is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Saxo Bank is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA).

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 Saxo Bank good?
For traders that can afford the USD 10,000 minimum deposit (GBP 500 for the UK), Saxo Bank offers competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and over 40,000 instruments to trade.

Overall winner: Saxo Bank

Read Next: Best Forex Brokers 2021


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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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