Written by ForexBrokers.com
In this head to head comparison of City Index vs XM Group, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
City Index, founded in 1983, and XM Group, founded in 2009, are online brokers with high safety marks. City Index is publicly traded and not a bank; XM Group is privately held and not a bank. On ForexBrokers.com’s 99-point Trust Score, City Index scores 99 and XM Group scores 93. For context, ForexBrokers.com classifies 90–99 as highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted.
Looking at regulation, City Index holds seven Tier-1 licenses (highly trusted) and one Tier-2 license (trusted). XM Group holds four Tier-1 and three Tier-2 licenses. Both sit in the highly trusted bracket by score, with City Index at the very top and XM Group close behind.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Year Founded | 1983 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 4 |
| Tier-2 Licenses | 1 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing commissions and fees, City Index comes out ahead of XM Group for most traders. City Index’s pricing for CFDs, forex, and spread betting is in line with the industry average, and the best rates are usually available on its own platforms or MetaTrader. Active traders may also qualify for rebates and discounts, while larger depositors can access the Premium Trader account with extra pricing perks and support. City Index is rated 4.5 out of 5 stars for commissions and fees and is ranked #16 out of 36 brokers by ForexBrokers.com.
XM Group, by comparison, is less competitive on pricing. Its Standard account spreads are considered expensive, and while it also offers a commission-based XM Zero account, average spread data for that account is not published. That makes it harder to judge true trading costs at a glance, especially for cost-focused traders. XM Group is rated 3.5 out of 5 stars for commissions and fees and is ranked #35 out of 36 brokers.
In simple terms, City Index offers better overall value on fees, especially for active traders who can benefit from lower pricing and rebates. XM Group may still appeal to some users for other reasons, but based on commissions and fees alone, City Index is the stronger choice.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Minimum Deposit | £100.00 | $5 |
| Average spread (EUR/USD) - Standard account | 1.4 | 2 |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to range of investments, City Index has the edge over XM Group for most traders. City Index offers 13,500 tradable symbols and 66 forex pairs, compared with XM Group’s 1,429 symbols and 55 forex pairs. Both brokers support forex trading, copy trading, and cryptocurrency CFDs, but neither lets clients buy actual cryptocurrency.
The key difference is in share investing: XM Group lets clients buy real, exchange-traded shares on both U.S. and international markets, while City Index does not offer these non-CFD stock purchases. Still, City Index is rated higher overall for investment range, with 5 stars and an #8 ranking out of 36 brokers, versus XM Group’s 4.5 stars and #19 ranking.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 1429 |
| Forex Pairs (Total) | 66 | 55 |
| U.S. Stocks (Shares) | No | Yes |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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). |
Dive deeper: Best Copy Trading Platforms.
City Index and XM Group both give traders plenty of ways to get started and manage trades, including free demo accounts, web-based platforms, desktop downloads for Windows, copy trading, and access to MetaTrader 4. Both also let users trade directly from charts, which can make it easier to act on price changes quickly. For traders who want extra convenience, City Index stands out with its own in-house platform, while XM Group does not offer a proprietary platform.
When it comes to platform range, XM Group has an edge because it supports MetaTrader 5, while City Index does not. That said, City Index scores higher overall for Trading Platforms and Tools, earning 4.5 out of 5 stars and ranking #11 out of 36 brokers at ForexBrokers.com. XM Group is rated 4 out of 5 stars and ranks #28, so while both brokers cover the basics well, City Index appears to offer the stronger all-around platform experience.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and XM Group both make it easy to trade on the go with iPhone and Android apps, plus price alerts and watchlist syncing between mobile and online accounts. Both apps also let you draw trendlines on charts, which can help with simple technical analysis. For traders who want a smoother mobile experience, City Index stands out with a higher user rating of 4.5 stars and a stronger ForexBrokers.com mobile apps ranking of #9 out of 36 brokers, compared with XM Group’s 4 stars and #26 ranking.
The biggest difference is in charting tools. City Index offers 88 technical studies in its mobile app, while XM Group offers 30, giving City Index a much wider range for mobile chart analysis. Another key point is that City Index automatically saves chart drawings, while XM Group does not. If mobile charting depth and convenience matter most, City Index has the edge, while XM Group still covers the basics well for traders who want a straightforward app.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
City Index and XM Group both give traders a strong set of market research tools. Each offers daily market commentary, forex news from top sources like Bloomberg, Reuters, and Dow Jones, Trading Central tools, sentiment data that shows long and short positioning, and an economic calendar for tracking key global events. Neither broker includes Autochartist, TipRanks, or Acuity Trading research tools, so the overall research lineup is quite similar.
That said, XM Group has a slight edge in this category. It is rated 5 stars for research and ranked #8 out of 36 brokers by ForexBrokers.com, while City Index is rated 4.5 stars and ranked #10. For traders who want a broker with easy-to-use research features and frequent market updates, both are solid choices, with XM Group coming out just ahead.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to learning support for beginners, both City Index and XM Group give traders plenty to work with. Each broker offers forex and CFD education with at least 10 learning pieces, plus online educational webinars held at least once a month. They also both provide 10 or more beginner videos and 10 or more advanced videos, so new traders and more experienced users can find useful material at different stages of their journey.
That said, XM Group has the edge overall in education. It is rated 5 out of 5 stars for Education and ranks #5 out of 36 brokers at ForexBrokers.com, while City Index is rated 4.5 stars and ranks #9. For beginners who want a wider and more highly rated learning library, XM Group appears to be the stronger choice, although City Index still offers a solid range of educational content.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that City Index is better than XM Group. City Index finished with an overall rank of #8, while XM Group finished with an overall rank of #16.
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.
| Feature |
City Index
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XM Group
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| Overall Rating |
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| Trust Score | 99 | 93 |
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City Index vs. XM Group: neither broker supports buying actual (delivered) cryptocurrency, but both offer cryptocurrency CFDs for trading.
Comparing online brokers City Index vs. XM Group for deposit and withdrawal methods: City Index supports ACH/SEPA, PayPal, and bank wire transfers (but not Skrill), while XM Group supports Skrill and bank wire transfers (but not ACH/SEPA or PayPal).
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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0 of 5| Overall Rating | City Index | XM Group | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | City Index Review | XM Group Review |
| Broker Screenshots | City Index | XM Group | |
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| Regulation | City Index | XM Group | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1983 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 4 | |
| Tier-2 Licenses | 1 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | City Index | XM Group | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | City Index | XM Group | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | City Index | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 1429 | |
| Forex Pairs (Total) | 66 | 55 | |
| U.S. Stocks (Shares) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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). |
| Cost | City Index | XM Group | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.4 | 2 | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | City Index | XM Group | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $5 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | City Index | XM Group | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | City Index | XM Group | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | XM Group | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | City Index | XM Group | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | Yes | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | XM Group | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | City Index | XM Group | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | City Index Review | XM Group Review |
| Overall | City Index | XM Group | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | City Index Review | XM Group Review |
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