Written by ForexBrokers.com
Is City Index better than UFX? In our analysis of 23 international regulators across 39 of the best forex brokers, City Index is considered low-risk, with an overall Trust Score of 99 out of 99. UFX is considered high-risk, with an overall Trust Score of 67 out of 99. Learn more about Trust Score.
| Overall Rating | City Index | UFX | IG |
|---|---|---|---|
| Overall Rating | |||
| Commissions & Fees | |||
| Offering of Investments | |||
| Platform & Tools | |||
| Mobile Trading | |||
| Research | |||
| Education | |||
| Trust Score | 99 | 67 | 99 |
| Winner | check_circle | ||
| Review | City Index Review | IG Review |
| Regulation | City Index | UFX | IG |
|---|---|---|---|
| Trust Score | 99 | 67 | 99 |
| Year Founded | 1983 | 2011 | 1974 |
| Publicly Traded (Listed) | Yes | No | Yes |
| Bank | No | No | Yes |
| Tier-1 Licenses | 3 | 0 | 7 |
| Tier-2 Licenses | 2 | 1 | 2 |
| Tier-3 Licenses | 1 | 0 | 1 |
| Authorised in European Union | Yes | Yes | Yes |
| About Regulation | 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) | City Index | UFX | IG |
|---|---|---|---|
| ASIC Authorised (Australia) | Yes | No | Yes |
| IIROC Authorised (Canada) | Yes | No | No |
| SFC Authorised (Hong Kong) | No | No | No |
| CBI Authorised (Ireland) | No | No | No |
| FSA Authorised (Japan) | No | No | Yes |
| MAS Authorised (Singapore) | Yes | No | Yes |
| FINMA Authorised (Switzerland) | No | No | Yes |
| FCA Authorised (U.K.) | Yes | No | Yes |
| CFTC Registered (USA) | No | No | Yes |
| FMA Authorised (New Zealand) | No | No | Yes |
| Tier-2 Licenses (Average Trust) | City Index | UFX | IG |
|---|---|---|---|
| CBRC Authorised (China) | No | No | No |
| CySEC Authorised (Cyprus) | Yes | Yes | No |
| SEBI Authorised (India) | No | No | No |
| ISA Authorised (Israel) | No | No | No |
| CBR Authorised (Russia) | No | No | No |
| FSCA Authorised (South Africa) | No | No | Yes |
| SEC Authorised (Thailand) | No | No | No |
| DFSA / Central Bank Authorised (UAE) | Yes | No | Yes |
| Tier-3 Licenses (Low Trust) | City Index | UFX | IG |
|---|---|---|---|
| SCB Authorised (Bahamas) | No | No | No |
| IFSC Authorised (Belize) | No | No | No |
| CIMA Authorised (Cayman Islands) | Yes | No | No |
| BMA Authorised (Bermuda) | No | No | Yes |
| FSC Authorised (British Virgin Islands) | No | No | No |
| FSC Authorised (Mauritius) | No | No | No |
| VFSC Authorised (Vanuatu) | No | No | No |
| Investments | City Index | UFX | IG |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 619 | 19537 |
| Forex Pairs (Total) | 84 | 49 | 100 |
| U.S. Stock Trading (Non CFD) | No | No | Yes |
| Int'l Stock Trading (Non CFD) | No | No | Yes |
| Social Trading / Copy Trading | Yes | Yes | Yes |
| Cryptocurrency (Physical) | No | No | No |
| Cryptocurrency (CFD) | Yes | Yes | Yes |
| Disclaimers | 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). | 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). |
| Cost | City Index | UFX | IG |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.0 (July 2022) | 3 (Jan 2021) | 0.86 (September 2022) |
| All-in Cost EUR/USD - Active | 1.0 (July 2022) | 2 (Jan 2021) | 0.5957 (September 2022) |
| Active Trader or VIP Discounts | Yes | Yes | Yes |
| Execution: Agency Broker | No | Yes | Yes |
| Execution: Market Maker | Yes | No | Yes |
| Funding | City Index | UFX | IG |
|---|---|---|---|
| Minimum Initial Deposit | £100.00 | $100 | £250.00 |
| PayPal (Deposit/Withdraw) | Yes | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | Yes |
| Trading Platforms | City Index | UFX | IG |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes | Yes |
| Web Platform | Yes | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes | No |
| cTrader | No | No | No |
| DupliTrade | No | No | No |
| ZuluTrade | No | No | No |
| Trading Tools | City Index | UFX | IG |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | Yes |
| Alerts - Basic Fields | Yes | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 | 14 |
| Charting - Indicators / Studies (Total) | 88 | 116 | 33 |
| Charting - Drawing Tools (Total) | 81 | 17 | 20 |
| Charting - Trade From Chart | Yes | No | Yes |
| Charts can be saved | Yes | Yes | Yes |
| Mobile Trading | City Index | UFX | IG |
|---|---|---|---|
| Android App | Yes | Yes | Yes |
| Apple iOS App | Yes | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes | Yes |
| Mobile Watchlist | Yes | Yes | Yes |
| Watchlist Syncing | Yes | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 30 | 33 |
| Mobile Charting - Draw Trendlines | Yes | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No | Yes |
| Forex Calendar | Yes | Yes | Yes |
| Research | City Index | UFX | IG |
|---|---|---|---|
| Daily Market Commentary | Yes | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes | Yes |
| Autochartist | No | No | Yes |
| Trading Central (Recognia) | Yes | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes | Yes |
| Economic Calendar | Yes | Yes | Yes |
| Education | City Index | UFX | IG |
|---|---|---|---|
| Has Education - Forex or CFDs | Yes | No | Yes |
| Client Webinars | Yes | No | Yes |
| Client Webinars (Archived) | Yes | No | Yes |
| Videos - Beginner Trading Videos | Yes | No | Yes |
| Videos - Advanced Trading Videos | Yes | No | Yes |
| Investor Dictionary (Glossary) | Yes | No | Yes |
| Major Forex Pairs | City Index | UFX | IG |
|---|---|---|---|
| GBP/USD | Yes | Yes | Yes |
| USD/JPY | Yes | Yes | Yes |
| EUR/USD | Yes | Yes | Yes |
| USD/CHF | Yes | Yes | Yes |
| USD/CAD | Yes | Yes | Yes |
| NZD/USD | Yes | Yes | Yes |
| AUD/USD | Yes | Yes | Yes |
| Review | City Index Review | IG Review |
| Overall | City Index | UFX | IG |
|---|---|---|---|
| Overall Rating | |||
| Commissions & Fees | |||
| Offering of Investments | |||
| Platform & Tools | |||
| Mobile Trading | |||
| Research | |||
| Education | |||
| Trust Score | 99 | 67 | 99 |
| Winner | check_circle | ||
| Review | City Index Review | IG Review |
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 City Index vs UFX.
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.
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. City Index holds 3 global Tier-1 licenses, while UFX holds 0. City Index holds 2 global Tier-2 licenses, while UFX holds 1. In our analysis of 23 international regulators across 50 brokers, City Index earned a higher Trust Score than UFX.
To compare the trading platforms of both City Index and UFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG to provide better mobile trading apps.
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both City Index and UFX offer MetaTrader 4 (MT4).City Index and UFX both offer copy trading.
City Index provides traders 84 currency pairs (e.g., EUR/USD) compared to UFX's 49 available pairs. Forex pairs aside, City Index offers traders access to 13500 CFDs while UFX has 619 available CFDs, a difference of 12881.
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).
UFX is not publicly traded and does not operate a bank. UFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).
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.
UFX offers the full MetaTrader suite and its own proprietary platform, as well as a growing selection of markets. That being said, spreads are much wider than the industry average, and as UFX holds just one regulatory license, its trust factor is well below the industry average.
Overall winner: IG
Please 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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