Written by ForexBrokers.com
Is City Index better than Xtrade? In our analysis of 23 international regulators across 39 of the best forex brokers, City Index is considered low-risk, with an overall Trust Score of 99 out of 99. Xtrade is considered average-risk, with an overall Trust Score of 80 out of 99. Learn more about Trust Score.
| Overall Rating | City Index | Xtrade | IG |
|---|---|---|---|
| Overall Rating | |||
| Commissions & Fees | |||
| Offering of Investments | |||
| Platform & Tools | |||
| Mobile Trading | |||
| Research | |||
| Education | |||
| Trust Score | 99 | 80 | 99 |
| Winner | check_circle | ||
| Review | City Index Review | IG Review |
| Regulation | City Index | Xtrade | IG |
|---|---|---|---|
| Trust Score | 99 | 80 | 99 |
| Year Founded | 1983 | 2003 | 1974 |
| Publicly Traded (Listed) | Yes | No | Yes |
| Bank | No | No | Yes |
| Tier-1 Licenses | 3 | 1 | 7 |
| Tier-2 Licenses | 2 | 2 | 2 |
| Tier-3 Licenses | 1 | 1 | 1 |
| Authorised in European Union | Yes | No | Yes |
| About Regulation | A “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score. | A “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score. |
| Tier-1 Licenses (High Trust) | City Index | Xtrade | IG |
|---|---|---|---|
| ASIC Authorised (Australia) | Yes | Yes | Yes |
| IIROC Authorised (Canada) | Yes | No | No |
| SFC Authorised (Hong Kong) | No | No | No |
| CBI Authorised (Ireland) | No | No | No |
| FSA Authorised (Japan) | No | No | Yes |
| MAS Authorised (Singapore) | Yes | No | Yes |
| FINMA Authorised (Switzerland) | No | No | Yes |
| FCA Authorised (U.K.) | Yes | No | Yes |
| CFTC Registered (USA) | No | No | Yes |
| FMA Authorised (New Zealand) | No | No | Yes |
| Tier-2 Licenses (Average Trust) | City Index | Xtrade | IG |
|---|---|---|---|
| CBRC Authorised (China) | No | No | No |
| CySEC Authorised (Cyprus) | Yes | Yes | No |
| SEBI Authorised (India) | No | No | No |
| ISA Authorised (Israel) | No | No | No |
| CBR Authorised (Russia) | No | No | No |
| FSCA Authorised (South Africa) | No | Yes | Yes |
| SEC Authorised (Thailand) | No | No | No |
| DFSA / Central Bank Authorised (UAE) | Yes | No | Yes |
| Tier-3 Licenses (Low Trust) | City Index | Xtrade | IG |
|---|---|---|---|
| SCB Authorised (Bahamas) | No | No | No |
| IFSC Authorised (Belize) | No | Yes | No |
| CIMA Authorised (Cayman Islands) | Yes | No | No |
| BMA Authorised (Bermuda) | No | No | Yes |
| FSC Authorised (British Virgin Islands) | No | No | No |
| FSC Authorised (Mauritius) | No | No | No |
| VFSC Authorised (Vanuatu) | No | No | No |
| Investments | City Index | Xtrade | IG |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 142 | 19537 |
| Forex Pairs (Total) | 84 | 56 | 100 |
| U.S. Stock Trading (Non CFD) | No | No | Yes |
| Int'l Stock Trading (Non CFD) | No | No | Yes |
| Social Trading / Copy Trading | Yes | No | Yes |
| Cryptocurrency (Physical) | No | No | No |
| Cryptocurrency (CFD) | Yes | 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). | 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 | Xtrade | IG |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.0 (July 2022) | -1 | 0.86 (September 2022) |
| All-in Cost EUR/USD - Active | 1.0 (July 2022) | -1 | 0.5957 (September 2022) |
| Active Trader or VIP Discounts | Yes | Yes | Yes |
| Execution: Agency Broker | No | No | Yes |
| Execution: Market Maker | Yes | Yes | Yes |
| Funding | City Index | Xtrade | IG |
|---|---|---|---|
| Minimum Initial Deposit | £100.00 | $250 | £250.00 |
| PayPal (Deposit/Withdraw) | Yes | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | Yes |
| Trading Platforms | City Index | Xtrade | IG |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | Yes |
| Desktop Platform (Windows) | Yes | No | Yes |
| Web Platform | Yes | Yes | Yes |
| Social Trading / Copy Trading | Yes | No | Yes |
| MetaTrader 4 (MT4) | Yes | No | Yes |
| MetaTrader 5 (MT5) | No | No | No |
| cTrader | No | No | No |
| DupliTrade | No | No | No |
| ZuluTrade | No | No | No |
| Trading Tools | City Index | Xtrade | IG |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | Yes |
| Alerts - Basic Fields | Yes | No | Yes |
| Watchlists - Total Fields | 11 | 9 | 14 |
| Charting - Indicators / Studies (Total) | 88 | N/A | 33 |
| Charting - Drawing Tools (Total) | 81 | 18 | 20 |
| Charting - Trade From Chart | Yes | No | Yes |
| Charts can be saved | Yes | No | Yes |
| Mobile Trading | City Index | Xtrade | IG |
|---|---|---|---|
| Android App | Yes | Yes | Yes |
| Apple iOS App | Yes | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No | Yes |
| Mobile Watchlist | Yes | No | Yes |
| Watchlist Syncing | Yes | No | Yes |
| Mobile Charting - Indicators / Studies | 88 | N/A | 33 |
| Mobile Charting - Draw Trendlines | Yes | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | No | Yes |
| Mobile Charting - Drawings Autosave | Yes | No | Yes |
| Forex Calendar | Yes | No | Yes |
| Research | City Index | Xtrade | IG |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes | Yes |
| Autochartist | No | No | Yes |
| Trading Central (Recognia) | Yes | No | No |
| Social Sentiment - Currency Pairs | Yes | No | Yes |
| Economic Calendar | Yes | Yes | Yes |
| Education | City Index | Xtrade | IG |
|---|---|---|---|
| Has Education - Forex or CFDs | Yes | Yes | Yes |
| Client Webinars | Yes | No | Yes |
| Client Webinars (Archived) | Yes | No | Yes |
| Videos - Beginner Trading Videos | Yes | No | Yes |
| Videos - Advanced Trading Videos | Yes | No | Yes |
| Investor Dictionary (Glossary) | Yes | Yes | Yes |
| Major Forex Pairs | City Index | Xtrade | IG |
|---|---|---|---|
| GBP/USD | Yes | Yes | Yes |
| USD/JPY | Yes | Yes | Yes |
| EUR/USD | Yes | Yes | Yes |
| USD/CHF | Yes | Yes | Yes |
| USD/CAD | Yes | Yes | Yes |
| NZD/USD | Yes | Yes | Yes |
| AUD/USD | Yes | Yes | Yes |
| Review | City Index Review | IG Review |
| Overall | City Index | Xtrade | IG |
|---|---|---|---|
| Overall Rating | |||
| Commissions & Fees | |||
| Offering of Investments | |||
| Platform & Tools | |||
| Mobile Trading | |||
| Research | |||
| Education | |||
| Trust Score | 99 | 80 | 99 |
| Winner | check_circle | ||
| Review | City Index Review | IG Review |
Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare City Index vs Xtrade.
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, IG offers better pricing overall for traders.
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. City Index holds 3 global Tier-1 licenses, while Xtrade holds 1. Both City Index and Xtrade hold 2 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, City Index earned a higher Trust Score than Xtrade.
To compare the trading platforms of both City Index and Xtrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG to provide better mobile trading apps.
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Copy trading is not offered by either broker.
City Index provides traders 84 currency pairs (e.g., EUR/USD) compared to Xtrade's 56 available pairs. Forex pairs aside, City Index offers traders access to 13500 CFDs while Xtrade has 142 available CFDs, a difference of 13358.
City Index is publicly traded, does not operate a bank, and is authorised by four tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust). City Index is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), and the Financial Conduct Authority (FCA).
Xtrade is not publicly traded and does not operate a bank. Xtrade is authorised by one tier-1 regulator (high trust), two tier-2 regulator (average trust), and one tier-3 regulator (low trust). Xtrade is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC).
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.
Xtrade offers a proprietary platform and holds an increasing number of regulatory licenses, but with less than 200 available symbols it just can't compete with the best forex brokers.
Overall winner: IG
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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