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Saxo Bank vs City Index 2019
Is City Index better than Saxo Bank? After assessing forex brokers on nearly 100 different variables, Saxo Bank is better than City Index. Traders seeking a large selection of instruments and asset classes across global financial markets will not be disappointed with the range of premium services Saxo Bank offers, including research, active trader pricing, and wealth management services that cater to investors’ needs. Saxo Bank was our #1 broker in multiple categories in 2019.
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 | ||
| Saxo Bank Review | City Index Review | |
| 69% of retail CFD accounts lose money | 70% of retail CFD accounts lose money |
Regulation
| Feature | Saxo Bank | City Index |
| Trust Score | 98 | 91 |
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Year Founded |
1992 | 1983 |
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Publicly Traded (Listed) |
No | Yes |
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Bank |
Yes | No |
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Tier-1 Licenses |
6 | 3 |
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Tier-2 Licenses |
1 | 0 |
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Tier-3 Licenses |
0 | 0 |
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Authorised in the European Union |
Yes | Yes |
Tier-1 Licenses
| Feature | Saxo Bank | City Index |
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ASIC Authorised (Australia) |
Yes | Yes |
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IIROC Authorised (Canada) |
No | No |
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SFC Authorised (Hong Kong) |
Yes | No |
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FSA Authorised (Japan) |
Yes | No |
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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
| Feature | Saxo Bank | City Index |
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CBRC Authorised (China) |
No | No |
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CySEC Authorised (Cyprus) |
Yes | 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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FSB Authorised (South Africa) |
Yes | No |
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SEC Authorised (Thailand) |
No | No |
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DFSA / Central Bank Authorised (UAE) |
Yes | No |
Tier-3 Licenses
| Feature | Saxo Bank | City Index |
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FSC Authorised (British Virgin Islands) |
No | No |
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FSC Authorised (Mauritius) |
No | No |
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Offshore Authorised |
No | No |
Investments
| Feature | Saxo Bank | City Index |
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Forex: Spot Trading |
Yes | Yes |
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Currency Pairs (Total Forex pairs) |
182 | 84 |
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CFDs - Total Offered |
32999 | 4500 |
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Cryptocurrency traded as actual |
No | No |
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Cryptocurrency traded as CFD |
No | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Cost
| Feature | Saxo Bank | City Index |
|
Average Spread EUR/USD - Standard |
0.9 (as of Sep 18) | 0.77 (as of Q3 2018) |
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All-in Cost EUR/USD - Active |
0.6 (as of Jun 17) | 0.77 (as of Q3 2018) |
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Active Trader or VIP Discounts |
Yes | Yes |
| Commissions & Fees | ||
| Winner | check_circle |
Funding
| Feature | Saxo Bank | City Index |
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Minimum Initial 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 | No |
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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) |
No | Yes |
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MetaTrader 5 (MT5) |
No | No |
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cTrader |
No | No |
Trading Tools
| Feature | Saxo Bank | City Index |
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Virtual Trading (Demo) |
Yes | Yes |
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Alerts - Basic Fields |
Yes | Yes |
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Watchlists - Total Fields |
12 | 18 |
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Charting - Indicators / Studies (Total) |
47 | 139 |
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Charting - Drawing Tools (Total) |
17 | 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 |
| Platform & Tools | ||
| Winner | check_circle |
Mobile Trading
| Feature | Saxo Bank | City Index |
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Android App |
Yes | Yes |
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Apple iOS App |
Yes | Yes |
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Trading - Forex |
Yes | Yes |
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Trading - CFDs |
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 |
41 | 7 |
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Charting - Draw Trend Lines |
Yes | Yes |
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Charting - Trend Lines Moveable |
Yes | No |
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Charting - Multiple Time Frames |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | No |
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Forex Calendar |
Yes | Yes |
| Mobile Trading | ||
| Winner | check_circle |
Research
| Feature | Saxo Bank | City Index |
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Daily Market Commentary |
Yes | Yes |
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Forex News (Top-Tier Sources) |
Yes | Yes |
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Weekly Webinars |
Yes | No |
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AutoChartist |
Yes | Yes |
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Trading Central (Recognia) |
No | Yes |
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Delkos Research |
No | No |
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Social Trading / Copy-Trading |
Yes | Yes |
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Social Sentiment - Currency Pairs |
Yes | No |
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Economic Calendar |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Education
| Feature | Saxo Bank | City Index |
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Has Education - Forex |
Yes | Yes |
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Has Education - 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 |
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Tutorials/Guide (PDF or Interactive) |
Yes | Yes |
| Education | ||
| Winner | check_circle |
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 |
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USDCNH (or CNHUSD) |
Yes | No |
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USDSGD (or SGDUSD) |
Yes | Yes |
Overall
| Feature | Saxo Bank | City Index |
| Saxo Bank Review | City Index Review | |
| Overall | ||
| Winner | check_circle |
After spending several months and hundreds of hours researching 28 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 2,200 data points. For this review, we will compare City Index vs Saxo Bank.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Both City Index and Saxo Bank share a rating of 4.50 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. City Index and Saxo Bank both are regulated in a major hub. City Index is a publicly traded company while Saxo Bank is not. As far as how many currency pairs are available for trading, here's the answer. Saxo Bank offers its clients access to 182 different currency pairs while City Index has 84 available pairs, a difference of 98.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. City Index has Meta Trader, Saxo Bank doesn't. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. City Index offers its clients access to 25 charting tools while Saxo Bank has 17 charting tools, a difference of 8. Saxo Bank trails City Index by 92 total different indicators (for example, moving averages), with City Index offering 139 and Saxo Bank offering 47.
City Index Review
Saxo Bank Review
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Both City Index and Saxo Bank share a rating of 4.50 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. City Index and Saxo Bank both are regulated in a major hub. City Index is a publicly traded company while Saxo Bank is not. As far as how many currency pairs are available for trading, here's the answer. Saxo Bank offers its clients access to 182 different currency pairs while City Index has 84 available pairs, a difference of 98.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. City Index has Meta Trader, Saxo Bank doesn't. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. City Index offers its clients access to 25 charting tools while Saxo Bank has 17 charting tools, a difference of 8. Saxo Bank trails City Index by 92 total different indicators (for example, moving averages), with City Index offering 139 and Saxo Bank offering 47.
City Index Review
Saxo Bank Review
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 web site as of 02/18/2019 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.
