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Saxo Bank vs City Index 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is Saxo Bank better than City Index? In our analysis of 23 international regulators across 39 of the best forex brokers, Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. City Index is considered low-risk, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.

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Overall RatingSaxo BankCity IndexIG
Overall Rating5 Stars5 Stars5 Stars
Commissions & Fees5 Stars4.5 Stars5 Stars
Offering of Investments5 Stars5 Stars5 Stars
Platform & Tools5 Stars4.5 Stars5 Stars
Mobile Trading5 Stars5 Stars5 Stars
Research5 Stars4.5 Stars5 Stars
Education4 Stars4.5 Stars5 Stars
Trust Score999999
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ReviewSaxo Bank ReviewCity Index ReviewIG Review
RegulationSaxo BankCity IndexIG
Trust Score999999
Year Founded199219831974
Publicly Traded (Listed)NoYesYes
BankYesNoYes
Tier-1 Licenses637
Tier-2 Licenses122
Tier-3 Licenses011
Authorised in European UnionYesYesYes
About RegulationA “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)Saxo BankCity IndexIG
ASIC Authorised (Australia)YesYesYes
IIROC Authorised (Canada)NoYesNo
SFC Authorised (Hong Kong)YesNoNo
CBI Authorised (Ireland)NoNoNo
FSA Authorised (Japan)YesNoYes
MAS Authorised (Singapore)YesYesYes
FINMA Authorised (Switzerland)YesNoYes
FCA Authorised (U.K.)YesYesYes
CFTC Registered (USA)NoNoYes
FMA Authorised (New Zealand)NoNoYes
Tier-2 Licenses (Average Trust)Saxo BankCity IndexIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)NoYesNo
SEBI Authorised (India)NoNoNo
ISA Authorised (Israel)NoNoNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoNoYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)YesYesYes
Tier-3 Licenses (Low Trust)Saxo BankCity IndexIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)NoYesNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)NoNoNo
FSC Authorised (Mauritius)NoNoNo
VFSC Authorised (Vanuatu)NoNoNo
InvestmentsSaxo BankCity IndexIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)600001350019537
Forex Pairs (Total)19084100
U.S. Stock Trading (Non CFD)YesNoYes
Int'l Stock Trading (Non CFD)YesNoYes
Social Trading / Copy TradingYesYesYes
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
DisclaimersNote: 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).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).
CostSaxo BankCity IndexIG
Average Spread EUR/USD - Standard0.9 (September 2022)1.0 (July 2022)0.86 (September 2022)
All-in Cost EUR/USD - Active0.7 (September 2022)1.0 (July 2022)0.5957 (September 2022)
Active Trader or VIP DiscountsYesYesYes
Execution: Agency BrokerYesNoYes
Execution: Market MakerYesYesYes
FundingSaxo BankCity IndexIG
Minimum Initial Deposit€2,000£100.00£250.00
PayPal (Deposit/Withdraw)NoYesYes
Skrill (Deposit/Withdraw)NoNoNo
Visa/Mastercard (Credit/Debit)YesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformsSaxo BankCity IndexIG
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
Social Trading / Copy TradingYesYesYes
MetaTrader 4 (MT4)NoYesYes
MetaTrader 5 (MT5)NoNoNo
cTraderNoNoNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
Trading ToolsSaxo BankCity IndexIG
Virtual Trading (Demo)YesYesYes
Alerts - Basic FieldsYesYesYes
Watchlists - Total Fields621114
Charting - Indicators / Studies (Total)628833
Charting - Drawing Tools (Total)208120
Charting - Trade From ChartYesYesYes
Charts can be savedYesYesYes
Mobile TradingSaxo BankCity IndexIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesYesYes
Mobile WatchlistYesYesYes
Watchlist SyncingYesYesYes
Mobile Charting - Indicators / Studies628833
Mobile Charting - Draw TrendlinesYesYesYes
Mobile Charting - Multiple Time FramesYesYesYes
Mobile Charting - Drawings AutosaveYesYesYes
Forex CalendarYesYesYes
ResearchSaxo BankCity IndexIG
Daily Market CommentaryYesYesYes
Forex News (Top-Tier Sources)YesYesYes
AutochartistYesNoYes
Trading Central (Recognia)NoYesNo
Social Sentiment - Currency PairsYesYesYes
Economic CalendarYesYesYes
EducationSaxo BankCity IndexIG
Has Education - Forex or CFDsYesYesYes
Client WebinarsYesYesYes
Client Webinars (Archived)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Videos - Advanced Trading VideosYesYesYes
Investor Dictionary (Glossary)YesYesYes
Major Forex PairsSaxo BankCity IndexIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
ReviewSaxo Bank ReviewCity Index ReviewIG Review
OverallSaxo BankCity IndexIG
Overall Rating5 Stars5 Stars5 Stars
Commissions & Fees5 Stars4.5 Stars5 Stars
Offering of Investments5 Stars5 Stars5 Stars
Platform & Tools5 Stars4.5 Stars5 Stars
Mobile Trading5 Stars5 Stars5 Stars
Research5 Stars4.5 Stars5 Stars
Education4 Stars4.5 Stars5 Stars
Trust Score999999
Winnercheck_circle
ReviewSaxo Bank ReviewCity Index ReviewIG Review
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Saxo Bank vs City Index Comparison

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 Saxo Bank vs City Index.

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

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

Which trading platform is better: Saxo Bank or City Index?

To compare the trading platforms of both Saxo Bank and City Index, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo Bank offers a better experience. With research, IG 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. Neither broker offers Meta Trader.Saxo Bank and City Index both offer copy trading.

How many forex pairs and CFDs are available to trade?

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to City Index's 84 available pairs. Forex pairs aside, Saxo Bank offers traders access to 60000 CFDs while City Index has 13500 available CFDs, a difference of 46500.

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).

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).

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.

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.

Overall winner: IG

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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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