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 XM.
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. City Index's score is 4.50 stars versus XM's 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. Both City Index and XM are regulated in a major hub. City Index is a publicly traded company, XM isn't. How many currency pairs are available to trade? City Index offers its clients access to 84 different currency pairs while XM has 57 available pairs, a difference of 27.
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 XM 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. XM boasts an offering of 31 charting tools compared to City Index's 25 available charting tools. City Index offers its clients access to 139 different indicators (for example, volume) while XM has 51 available indicators, a difference of 88.
Overall, City Index comes out on top with 4.00 stars over XM's 3.50 stars. And, when it comes to individual category awards, unfortunately, neither City Index nor XM received awards 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.