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 and XM Group are prominent names in the online brokerage world, each bringing its own strengths in terms of trust and regulation. Established in 1983, City Index stands out with its long history and high ForexBrokers.com Trust Score of 99, marking it as a highly trusted broker. It holds an impressive seven Tier-1 licenses, demonstrating its strong regulatory compliance. Additionally, City Index is publicly traded, which can offer an extra layer of transparency to investors.
In comparison, XM Group, which was founded in 2009, also secures a commendable position in the market with a Trust Score of 93. While it operates with four Tier-1 licenses and one Tier-2 license, it is not publicly traded. Like City Index, XM Group is not a bank, but it still provides a secure trading environment for clients. Both brokers are trusted by the regulatory framework they adhere to, making them viable choices for those venturing into online trading.
| 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 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
If you’re comparing commissions and fees, City Index generally has the edge over XM Group. City Index is rated 4.5 out of 5 stars and ranks #15 of 63 brokers for Commissions and Fees on ForexBrokers.com, while XM Group is rated 4 out of 5 stars and ranks #34 of 63. Both support forex and CFD trading, but their pricing transparency and discounts differ in meaningful ways.
City Index pricing sits around the industry average across CFDs, forex, and spread betting. The average EUR/USD spread is 0.74 pips (July 2023), and you can typically get the best pricing on City Index’s own platforms or MetaTrader. Cost-saving options are a highlight: the Premium Trader account (for deposits above £10,000) offers access to exclusive pricing and dedicated support, and professional traders can earn rebates—£4 per million from £25M in monthly volume up to £7.5 per million above £300M. In Australia, rebates range from AUD 4.5 to AUD 14.5 per million, depending on tier.
By contrast, XM Group’s Standard account spreads are on the expensive side, and it does not publish average spreads for its commission-based XM Zero account. That makes it harder to estimate all-in trading costs versus City Index, which helps explain the higher star rating and stronger #15 ranking for City Index compared with XM Group’s #34.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Minimum Deposit | £100.00 | $5 |
| Average spread (EUR/USD) - Standard account | 1.4 | 1.6 |
| All-in Cost EUR/USD - Active | 0.74 | 0.8 |
| 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.
City Index vs XM Group: both brokers let you trade forex via CFDs or spot contracts, support copy trading, and offer cryptocurrency through CFDs (neither offers delivered crypto). City Index stands out for breadth, with 13,500 tradeable symbols and 66 forex pairs, compared with XM Group’s 1,394 symbols and 55 pairs.
The key difference is access to real shares. XM Group lets you buy exchange-traded securities on both U.S. and international stock exchanges, while City Index does not and focuses on CFDs. For range of investments, ForexBrokers.com rates City Index 5 stars and ranks it #8 of 63, while XM Group earns 4.5 stars and ranks #25. Pick City Index if you want the widest symbol selection and more currency pairs; choose XM Group if owning actual stocks on global markets is important to you.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 1394 |
| 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 make it easy to get started with a free demo account for paper trading. Each broker offers web-based and Windows desktop platforms and supports copy trading. Both include MetaTrader 4 (MT4), and both let you place trades directly from charts. A key difference: City Index also provides its own in-house platform, while XM Group does not. On the flip side, XM Group adds MetaTrader 5 (MT5), which City Index does not offer.
According to ForexBrokers.com, City Index earns 4.5 out of 5 stars for Trading Platforms and Tools and ranks #11 out of 63 brokers, while XM Group scores 4 out of 5 stars and ranks #33. In short, pick City Index if you want a broker-built platform alongside MT4, or choose XM Group if MT5 is a must-have. Both are strong options for web and desktop trading, copy trading, and MT4.
| 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 vs XM Group for mobile trading: both brokers offer iPhone and Android apps, price alerts, and watchlist syncing between mobile and the web. Each app supports drawing trendlines on charts. The big differences show up in charting tools—City Index includes 88 technical studies, while XM Group offers 30. City Index also auto-saves your chart drawings, whereas XM Group does not, which can matter if you switch devices or sessions.
For quality scores, City Index earns 4.5 out of 5 stars and ranks #9 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com. XM Group earns 4 out of 5 stars and ranks #31. If you want deeper technical analysis and saved drawings on the go, City Index has the edge; if you mainly need core features like alerts and synced watchlists on iPhone or Android, XM Group covers the basics well.
| 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.
When comparing the market research offerings of online brokers City Index and XM Group, both providers ensure traders have access to daily market commentary and forex news from high-quality sources such as Bloomberg and Reuters. Furthermore, each broker equips traders with tools from Trading Central, assisting in technical analyses. Additionally, they both feature sentiment-based trading tools that display the distribution of long and short positions across various currency pairs and instruments. Economic calendars are available from both brokers, showing global news events that can affect trading.
However, neither City Index nor XM Group provides research from Autochartist, TipRanks, or Acuity Trading. Despite these similarities, their overall research ratings differ. City Index garners a respectable 4.5 out of 5 stars and is ranked 10th out of 63 in the research category by ForexBrokers.com. In comparison, XM Group earns a slightly higher score of 5 stars and holds the 8th position, indicating a slightly stronger showing in market research offerings.
| 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.
City Index vs XM Group: Both brokers offer beginner-friendly trading education for people interested in forex and CFDs. Each hosts online client webinars at least once a month and provides big video libraries with 10+ beginner lessons and 10+ advanced lessons, helping you move from the basics to more detailed topics at your own pace. The lessons aim to be easy to follow, with practical takeaways and clear explanations.
When it comes to independent ratings, XM Group leads with a perfect 5-star Education score and ranks #7 out of 63 brokers on ForexBrokers.com. City Index is close behind with a 4.5-star Education score and a #9 ranking. If you want the highest-rated education, XM Group takes the edge; if you’re looking for a similarly strong learning experience with plenty of videos and regular webinars, City Index is also a great pick for beginners.
| 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 #17.
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 | 1 | |
| 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 (SFC 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) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA 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 | 1394 | |
| 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 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.74 | 0.8 | |
| 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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