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 | 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.
City Index vs XM Group for range of investments: City Index lists 13,500 tradable instruments and 66 forex pairs, while XM Group offers 1,394 instruments and 55 forex pairs. Both support forex trading via CFDs/spot, provide copy trading, and let you trade crypto through derivatives (neither allows buying actual crypto).
If you want to own real shares, XM Group has the edge with access to exchange-traded stocks on both U.S. and international markets; City Index does not offer real share dealing. For range, City Index earns 5 stars and ranks 8th out of 63 brokers, whereas XM Group earns 4.5 stars and ranks 25th. Pick City Index for breadth in CFDs, or XM Group if holding actual stocks alongside your CFD trading is important.
| 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.
City Index vs XM Group: both brokers make it easy to get started with a free demo (paper trading) account and offer web-based and Windows desktop platforms. City Index adds its own in-house platform alongside MetaTrader 4 (MT4), while XM Group focuses on MetaTrader, supporting both MT4 and MetaTrader 5 (MT5). Copy trading is available at both brokers, and neither integrates DupliTrade or ZuluTrade.
For trading tools, City Index stands out with more charting extras, including 239 drawing tools (vs 15 at XM) and the ability to place trades right from charts at both brokers. Watchlists are more flexible at City Index (11 fields vs 7). Reflecting these differences, ForexBrokers.com rates City Index 4.5/5 stars and ranks it #11 out of 63 for Trading Platforms and Tools, while XM Group earns 4/5 stars and ranks #33. Choose City Index if you want an in-house platform, deeper charting, and more watchlist customization; pick XM Group if MT5 access is a priority within a familiar MetaTrader setup.
| 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 mobile trading apps for iPhone and Android. Each app lets you set price alerts, create real-time watchlists that sync with your online account, draw trendlines on charts, and switch between multiple time frames (intraday, daily, weekly) for both forex and stocks.
For charting depth, City Index includes 88 technical studies versus XM Group’s 30, and City Index auto-saves your chart drawings while XM Group does not. In independent reviews of Mobile Trading Apps, City Index scores 4.5 out of 5 stars and ranks #9 out of 63 brokers, while XM Group scores 4 out of 5 stars and ranks #31. If you value more indicators and saved annotations, City Index has the edge; if you just need core features with alerts and synced watchlists on iPhone and Android, XM Group covers the essentials.
| 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 | 93 |
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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 | 93 | |
| Winner | check_circle | ||
| Review | City Index Review | XM Group Review |
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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/Central Bank 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. 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 |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | City Index Review | XM Group Review |
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