Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare City Index vs TickMill.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Both City Index and TickMill are rated 4.00 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. City Index and TickMill both are regulated in a major hub. City Index is a publicly traded company, TickMill isn't. How many currency pairs are available to trade? City Index boasts an offering of 84 different currency pairs compared to TickMill's 62 available pairs.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. City Index alongside TickMill offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. TickMill offers its clients access to 31 charting tools while City Index has 25 charting tools, a difference of 6. TickMill trails City Index by 88 total different indicators (for example, moving averages), with City Index offering 139 and TickMill offering 51.
Overall, City Index takes the upper hand with 4.50 stars over TickMill's 3.50 stars. And, when it comes to individual category awards, both City Index and TickMill found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018.