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.
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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 | ||
| Research | ||
| Education | ||
| 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 |
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IIROC Authorised (Canada) |
No | No |
|
SFC Authorised (Hong Kong) |
Yes | No |
|
FSA Authorised (Japan) |
Yes | No |
|
MAS Authorised (Singapore) |
Yes | Yes |
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FINMA Authorised (Switzerland) |
Yes | No |
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FCA Authorised (UK) |
Yes | Yes |
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CFTC Registered (USA) |
No | No |
Tier-2 Licenses (Average Trust)
| Feature | Saxo Bank | City Index |
|
CBRC Authorised (China) |
No | No |
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CySEC Authorised (Cyprus) |
Yes | Yes |
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CBI Authorised (Ireland) |
No | No |
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ISA Authorised (Israel) |
No | No |
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FMA Authorised (New Zealand) |
No | No |
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CBR Authorised (Russia) |
No | No |
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FSCA Authorised (South Africa) |
Yes | No |
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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 |
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Forex Pairs (Total) |
170 | 65 |
|
US Stock Trading (Non CFD) |
Yes | No |
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Int'l Stock Trading (Non CFD) |
Yes | No |
|
Cryptocurrency (Physical) |
No | No |
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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) |
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All-in Cost EUR/USD - Active |
0.6 (August 2020) | 1.1 (Aug 2020) |
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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 |
$10,000.00 | £50.00 |
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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 |
58 | 18 |
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Charting - Indicators / Studies (Total) |
58 | 139 |
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Charting - Drawing Tools (Total) |
19 | 25 |
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Charting - Trade From Chart |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | Yes |
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Order Type - Trailing Stop |
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 |
58 | 88 |
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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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Weekly Webinars |
No | No |
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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 |
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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 |
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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 | ||
| Research | ||
| Education | ||
| 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
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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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