Is City Index better than Saxo Bank? In our analysis of 23 international regulators across 39 brokers, City Index is considered low-risk, with an overall Trust Score of 99 out of 99. Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.
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Saxo Bank vs City Index 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 | Saxo Bank | City Index |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading Apps | ||
| Research | ||
| Education | ||
| Trust Score | 99 | 99 |
| Saxo Bank Review | City Index Review | |
| 67% of retail CFD accounts lose money | 73% of retail CFD accounts lose money | |
| Winner | check_circle |
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 | 0 |
|
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 |
|
CBI Authorised (Ireland) |
No | 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 |
|
FMA Authorised (New Zealand) |
No | No |
Tier-2 Licenses (Average Trust)
| Feature | Saxo Bank | City Index |
|
CBRC Authorised (China) |
No | No |
|
CySEC Authorised (Cyprus) |
No | Yes |
|
SEBI Authorised (India) |
No | No |
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ISA Authorised (Israel) |
No | No |
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CBR Authorised (Russia) |
No | No |
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FSCA Authorised (South Africa) |
No | No |
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SEC Authorised (Thailand) |
No | No |
|
DFSA / Central Bank Authorised (UAE) |
Yes | No |
Tier-3 Licenses (Low Trust)
| Feature | Saxo Bank | City Index |
| SCB Authorised (Bahamas) | No | No |
| IFSC Authorised (Belize) | No | No |
|
Cayman Islands Monetary Authority (CIMA) |
No | No |
| BMA Authorised (Bermuda) | No | No |
|
FSC Authorised (British Virgin Islands) |
No | No |
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FSC Authorised (Mauritius) |
No | No |
|
VFSC Authorised (Vanuatu) |
No | No |
Investments
| Feature | Saxo Bank | City Index |
|
Forex Trading |
Yes | Yes |
|
CFD Trading |
Yes | Yes |
|
Tradeable Symbols (Total) |
40000 | 12000 |
|
Forex Pairs (Total) |
182 | 84 |
|
US Stock Trading (Non CFD) |
Yes | No |
|
Int'l Stock Trading (Non CFD) |
Yes | No |
|
Social Trading / Copy-Trading |
Yes | Yes |
|
Cryptocurrency (Physical) |
No | No |
|
Cryptocurrency (CFD) |
Yes | Yes |
| Crypto Disclaimer (UK) | 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
| Feature | Saxo Bank | City Index |
|
Average Spread EUR/USD - Standard |
0.8 (August 2020) | 1.1 (August 2021) |
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All-in Cost EUR/USD - Active |
0.6 (August 2020) | 1.1 (August 2021) |
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Active Trader or VIP Discounts |
Yes | Yes |
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Execution: Agency Broker |
Yes | No |
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Execution: Market Maker |
Yes | Yes |
Funding
| Feature | Saxo Bank | City Index |
|
Minimum Deposit |
$2,000.00 | £100.00 |
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Bank Wire (Deposit/Withdraw) |
Yes | Yes |
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Visa/Mastercard (Credit/Debit) |
Yes | Yes |
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PayPal (Deposit/Withdraw) |
No | Yes |
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Skrill (Deposit/Withdraw) |
No | No |
Trading Platforms
| Feature | Saxo Bank | City Index |
|
Proprietary Platform |
Yes | Yes |
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Desktop Platform (Windows) |
Yes | Yes |
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Web Platform |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | Yes |
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MetaTrader 4 (MT4) |
Yes | Yes |
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MetaTrader 5 (MT5) |
No | No |
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cTrader |
No | No |
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DupliTrade |
No | No |
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ZuluTrade |
No | No |
Trading Tools
| Feature | Saxo Bank | City Index |
|
Virtual Trading (Demo) |
Yes | Yes |
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Alerts - Basic Fields |
Yes | Yes |
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Watchlists - Total Fields |
62 | 20 |
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Charting - Indicators / Studies (Total) |
62 | 139 |
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Charting - Drawing Tools (Total) |
20 | 269 |
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Charting - Trade From Chart |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | Yes |
Mobile Trading
| Feature | Saxo Bank | City Index |
|
Android App |
Yes | Yes |
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Apple iOS App |
Yes | Yes |
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Alerts - Basic Fields |
Yes | Yes |
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Watch List |
Yes | Yes |
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Watch List Syncing |
Yes | Yes |
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Charting - Indicators / Studies |
62 | 88 |
|
Charting - Draw Trendlines |
Yes | Yes |
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Charting - Trendlines Moveable |
Yes | No |
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Charting - Multiple Time Frames |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | Yes |
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Forex Calendar |
Yes | Yes |
Research
| Feature | Saxo Bank | City Index |
|
Daily Market Commentary |
Yes | Yes |
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Forex News (Top-Tier Sources) |
Yes | Yes |
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Autochartist |
Yes | No |
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Trading Central (Recognia) |
No | Yes |
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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 | Saxo Bank | City Index |
|
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 |
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Investor Dictionary (Glossary) |
Yes | Yes |
Major Forex Pairs
| Feature | Saxo Bank | City Index |
|
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 |
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AUD/USD |
Yes | Yes |
Overall
| Feature | Saxo Bank | City Index |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading Apps | ||
| Research | ||
| Education | ||
| Trust Score | 99 | 99 |
| Saxo Bank Review | City Index Review |
Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 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 23 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 182 currency pairs (e.g., EUR/USD) compared to City Index's 84 available pairs. Forex pairs aside, Saxo Bank offers traders access to 40000 CFDs while City Index has 12000 available CFDs, a difference of 28,000.
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 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 Saxo Bank good?
Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
Overall winner: Saxo Bank
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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 website as of 01/10/2022 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 "Contact" link at the bottom of this page.
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