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Saxo Bank vs City Index Review

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
Regulation
Trust Score
Year Founded
Publicly-Traded Company (Listed)
Regulated in Major Hub
Regulated in Emerging Hub
CFTC Registered (USA)
Authorised in the European Union
FCA Authorised (UK)
FINMA Authorised (Switzerland)
ASIC Authorised (Australia)
MAS Authorised (Singapore)
IIROC Authorised (Canada)
SFC Authorised (Hong Kong)
FSA Authorised (Japan)
CySEC Authorised (Cyprus)
FMA Authorised (New Zealand)
Investments
Forex: Spot Trading
Currency Pairs (Total Forex pairs)
CFDs - Total Offered
Cryptocurrency traded as actual
Cryptocurrency traded as CFD
Offering of Investments
Winner
Cost
Average Spread EUR/USD - Standard
All-in Cost EUR/USD - Active
Active Trader or VIP Discounts
Commissions & Fees
Winner
Funding
Minimum Initial Deposit
Bank Wire (Deposit/Withdraw)
Visa/Mastercard (Credit/Debit)
PayPal (Deposit/Withdraw)
Skrill (Deposit/Withdraw)
UnionPay (Deposit/Withdraw)
Trading Platforms
Proprietary Platform
Desktop Platform (Windows)
Web Platform
Social Trading / Copy-Trading
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Trading Tools
Virtual Trading (Demo)
Alerts - Basic Fields
Watchlists - Total Fields
Charting - Indicators / Studies (Total)
Charting - Drawing Tools (Total)
Charting - Trade From Chart
Charting - Drawings Autosave
Order Type - Trailing Stop
Platform & Tools
Winner
Mobile Trading
Android App
Apple iOS App
Trading - Forex
Trading - CFDs
Alerts - Basic Fields
Watch List
Watch List Syncing
Charting - Indicators / Studies
Charting - Draw Trend Lines
Charting - Trend Lines Moveable
Charting - Multiple Time Frames
Charting - Drawings Autosave
Forex Calendar
Mobile Trading
Winner
Research
Daily Market Commentary
Forex News (Top-Tier Sources)
Weekly Webinars
AutoChartist
Trading Central (Recognia)
Delkos Research
Social Trading / Copy-Trading
Social Sentiment - Currency Pairs
Economic Calendar
Research
Winner
Education
Has Education - Forex
Has Education - CFDs
Client Webinars
Client Webinars (Archived)
Videos - Beginner Trading Videos
Videos - Advanced Trading Videos
Investor Dictionary (Glossary)
Tutorials/Guide (PDF or Interactive)
Education
Winner
Major Forex Pairs
GBPUSD (or USDGBP)
USDJPY (or JPYUSD)
EURUSD (or USDEUR)
USDCHF (or CHFUSD)
USDCAD (or CADUSD)
NZDUSD (or USDNZD)
AUDUSD (or USDAUD)
USDCNH (or CNHUSD)
USDSGD (or SGDUSD)
Overall
Overall
Winner
4.5
69% of retail CFD accounts lose money
94
1992
No
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
No
Yes
182
32999
No
No
4.5
check_circle
0.9 (as of Sep 18)
0.6 (as of Jun 17)
Yes
4.5
$2,000.00
Yes
Yes
No
No
No
Yes
Yes
Yes
Yes
No
No
No
Yes
Yes
12
47
17
Yes
Yes
Yes
4.5
check_circle
Yes
Yes
Yes
Yes
Yes
Yes
Yes
41
Yes
Yes
Yes
Yes
Yes
4.5
check_circle
Yes
Yes
Yes
Yes
No
No
Yes
Yes
Yes
4.5
check_circle
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
4
check_circle
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
4.5
check_circle
4
70% of retail CFD accounts lose money
92
1983
Yes
Yes
No
No
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
No
No
Yes
84
4500
No
Yes
4
0.77 (as of Q3 2018)
0.77 (as of Q3 2018)
Yes
4.5
check_circle
£100.00
Yes
Yes
No
No
No
Yes
Yes
Yes
Yes
Yes
No
No
Yes
Yes
18
139
25
Yes
Yes
Yes
4
Yes
Yes
Yes
Yes
Yes
Yes
Yes
7
Yes
No
Yes
No
Yes
4
Yes
Yes
No
Yes
Yes
No
Yes
No
Yes
4
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
4
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
Yes
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


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.

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