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, established in 1983, is a distinguished online broker that stands tall with a Trust Score of 99 out of 99 from ForexBrokers.com. As a publicly traded entity, City Index offers a great level of transparency and reliability. Although not a bank, it holds an impressive seven Tier-1 licenses, which are highly trusted, and one Tier-2 license. This multitude of licenses underscores its commitment to maintaining stringent regulatory standards.
On the other hand, XM Group was founded in 2009 and, while not publicly traded, establishes its strong presence with a Trust Score of 88. Like City Index, XM Group is not a banking institution but is still considered reliable. It holds four Tier-1 licenses, reflecting its dedication to high regulatory standards, and it also possesses one Tier-2 license. Despite having fewer Tier-1 licenses than City Index, XM Group is a respected name in the brokerage space, known for being a trusted choice among traders.
| 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 |
City Index offers competitive pricing for trading CFDs, forex, and spread-betting with costs in line with industry averages. Traders can choose between City Index's proprietary platforms or MetaTrader for optimal pricing. The Premium Trader account caters to active traders who deposit over £10,000, granting exclusive pricing and customer service perks. City Index provides an average spread of 0.74 pips on the EUR/USD, positioning itself well among its peers though trailing top-tier brokers like Tickmill and FP Markets. The broker also extends rebates for high-volume traders, with rebates starting at £4 per million for U.K-based traders and going up to £7.5 per million based on trading volume. In Australia, the rebates range from AUD $4.5 to AUD $14.5 per million.
In contrast, XM Group's commission and fees structure is less transparent, especially for its commission-based XM Zero account. The standard account spreads are notably higher, and unlike City Index, XM Group does not publish average spreads for its XM Zero account. This lack of clarity can make it challenging for potential traders to assess the full cost of trading with XM Group.
When it comes to ratings, City Index scores an impressive 4.5 out of 5 stars for its commissions and fees, ranking it 14th out of 63 brokers as reviewed by ForexBrokers.com. XM Group, on the other hand, earns 4 stars and is ranked 33rd in the same category. These ratings highlight City Index's strong appeal for traders seeking competitive pricing and a range of beneficial features.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Minimum Deposit | £100.00 | $5 |
| Average Spread EUR/USD - Standard | 1.4 | 1.6 |
| All-in Cost EUR/USD - Active | 0.74 | 0.8 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing City Index and XM Group in terms of their investment offerings, both platforms provide opportunities for forex trading through CFDs or spot contracts. However, City Index stands out with a vast selection of 13,500 tradeable symbols, including 66 forex pairs, whereas XM Group offers 1,394 symbols and 55 forex pairs. While both brokers share features like copy trading and access to cryptocurrency derivatives, their range of investment differs when it comes to traditional securities. XM Group allows clients to purchase actual shares on both U.S. and international exchanges, which City Index does not provide. This could be a determining factor for investors looking for direct stock investments alongside forex trading.
In terms of overall evaluation, City Index receives a higher rating of 5 stars for its range of investments, compared to XM Group's 4.5 stars. This ranking reflects in their positions on ForexBrokers.com, where City Index ranks 8th out of 63 brokers for the diversity of its offerings, surpassing XM Group, which holds the 23rd spot. This robust diversity and breadth of tradeable instruments make City Index an attractive platform for traders looking for a more extensive array of investment options, despite the absence of exchange-traded securities. Meanwhile, XM Group caters to traders who want a balance of forex, CFDs, and direct investments in international markets. Ultimately, the choice between these brokers may depend on an investor's preference for trading range versus access to real market offerings.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 1394 |
| Forex Pairs (Total) | 66 | 55 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
When comparing City Index and XM Group, both online brokers facilitate simulated trading through free demo accounts, which is a great feature for beginners to practice. City Index stands out by offering a custom-built trading platform alongside well-known options like MetaTrader 4, although it lacks MetaTrader 5. In contrast, XM Group provides MetaTrader 5 but does not have a proprietary platform. Both brokers offer Windows-based desktop platforms and web-based trading options, making it easy for traders to access their accounts from various devices. Additionally, copy trading options are available at both brokers, although they do not support third-party social trading platforms like DupliTrade or ZuluTrade.
Charting tools and customization might sway your decision; City Index offers an impressive 239 drawing tools for charting compared to just 15 offered by XM Group. Trader efficiency is enhanced at City Index, where you can make trades directly from a stock chart and create watch lists with 11 columns, compared to XM Group's seven. When it comes to rating, City Index scores 4.5 out of 5 stars for trading platforms and tools, ranking 11th among 63 brokers according to ForexBrokers.com. XM Group, while still competent with a 4-star rating, is positioned at 31st, suggesting that City Index may offer a more advanced trading experience.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Drawing Tools (Total) | 239 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and XM Group both offer comprehensive mobile trading apps available for both iPhone and Android devices. These apps provide users with essential trading features like stock and forex price alerts, watchlist symbol syncing, and the ability to draw trendlines on charts. Both platforms support viewing multiple time frames for in-depth analysis, with City Index boasting 88 technical studies for charting, compared to XM Group's 30. Notably, City Index saves drawings automatically, while XM Group does not.
For traders interested in real-time data, both apps allow the creation of watchlists with live quotes. However, City Index edges out XM Group with a user rating of 4.5 stars compared to XM Group's 4 stars. In a competitive analysis of 63 brokers by ForexBrokers.com, City Index is distinguished with a rank of #9, whereas XM Group is placed at #29. Both brokers ensure their mobile platforms are well-equipped to meet traders' needs, but City Index offers additional tools that might appeal to those desiring more analytical capabilities.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
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 | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both City Index and XM Group offer a wealth of options that cater to those new to forex or CFDs. Each platform provides more than ten educational pieces, including articles, videos, and archived webinars, making them both rich sources of learning material. They also host online educational webinars monthly, ensuring continuous learning opportunities. For those who prefer learning through video, both brokers offer over ten beginner-focused educational videos covering essential trading topics. Additionally, City Index and XM Group provide a searchable archive of past webinars, allowing learners to revisit previous sessions at their convenience.
While both platforms shine with a comprehensive range of educational content for both beginners and more experienced traders, there are a few differences. City Index stands out with its inclusion of an investor dictionary containing definitions of over 50 investing terms, a feature not offered by XM Group. Despite this, XM Group clinches a slightly higher overall education rating of 5 stars compared to City Index's 4.5 stars. Rankings on ForexBrokers.com further reflect this, with XM Group holding the 7th spot while City Index is at 9th in the education category among 63 brokers. Both platforms offer excellent educational tools, but XM Group inches ahead in overall ratings and rankings, making it a top choice for educational resources for those starting their trading journey.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | No |
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
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 88 |
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Both City Index and XM Group do not provide options to purchase actual delivered cryptocurrencies, but they each offer the ability to invest in cryptocurrency derivatives.
City Index and XM Group both support Visa and Mastercard along with bank wire transactions for depositing and withdrawing funds, but City Index distinguishes itself by offering PayPal and ACH or SEPA transfers, while XM Group exclusively provides Skrill support instead.
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 | 88 | |
| Winner | check_circle | ||
| Review | City Index Review | XM Group Review |
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| Regulation | City Index | XM Group | |
|---|---|---|---|
| Trust Score | 99 | 88 | |
| 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) | No | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 1394 | |
| Forex Pairs (Total) | 66 | 55 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | 1.4 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.74 | 0.8 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| 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 | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | City Index | XM Group | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | XM Group | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Drawing Tools (Total) | 239 | 15 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | XM Group | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | XM Group | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | City Index | XM Group | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | City Index Review | XM Group Review |
| Overall | City Index | XM Group | |
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| Trust Score | 99 | 88 | |
| Winner | check_circle | ||
| Review | City Index Review | XM Group Review |
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