Written by ForexBrokers.com
In this head to head comparison of City Index vs AvaTrade, 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 AvaTrade are both established online brokers, each with distinct regulatory credentials. City Index, a publicly traded company since its founding in 1983, is recognized for its exemplary trustworthiness, boasting the highest possible ForexBrokers.com Trust Score of 99 out of 99. This veteran broker holds 7 Tier-1 licenses, representing the highest level of regulatory compliance, along with 1 Tier-2 license. In comparison, AvaTrade, established in 2006, operates privately and holds an impressive Trust Score of 94. AvaTrade maintains a solid regulatory portfolio with 4 Tier-1 licenses and 3 Tier-2 licenses.
While neither City Index nor AvaTrade operates as a bank, both brokers uphold strong regulatory standards. City Index is noteworthy for its extensive range of Tier-1 licenses, indicating a broad global regulatory approval, which is pivotal for investors prioritizing high trust. AvaTrade, although younger and not publicly listed, still benefits from a substantial number of regulatory endorsements, ensuring a high level of trust for its users. Both brokers cater well to traders with an eye for regulation and security but stand apart in their market tenure and public ownership.
| Feature |
City Index
|
AvaTrade
|
|---|---|---|
| Year Founded | 1983 | 2006 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 4 |
| Tier-2 Licenses | 1 | 3 |
| Tier-3 Licenses | 0 | 1 |
| Tier-4 Licenses | 1 | 1 |
City Index and AvaTrade are two prominent online brokers that offer competitive pricing for trading CFDs, forex, and spread-betting products. When it comes to commissions and fees, both brokers provide industry-average rates. City Index offers an average spread of 0.74 pips on the EUR/USD pair as of July 2023, positioning itself as a solid choice, though not the leader compared to top competitors like Tickmill and FP Markets. AvaTrade closely follows, with spreads near one pip (0.9 pips as of June 2024), slightly exceeding the entry-level offers from CMC Markets and Tickmill.
City Index provides additional benefits for active traders through its Premium Trader account, which is available for those depositing over £10,000. This account unlocks exclusive pricing and dedicated customer service. For professional traders based in the U.K. and Australia, City Index offers rebates that start at £4 per million for monthly trade volumes above £25 million, scaling up to £7.5 per million for more than £300 million monthly. AvaTrade's Professional account serves elected professional traders with spreads at 0.6 pips, making them competitive and in line with FP Markets.
Both City Index and AvaTrade receive a commendable 4.5-star rating for their commissions and fees, demonstrating their competitiveness in the market. In the ranking of 62 brokers by ForexBrokers.com, City Index is positioned at #14, while AvaTrade achieves a higher position at #12, reflecting their slight edge in terms of pricing and affordability for traders.
| Feature |
City Index
|
AvaTrade
|
|---|---|---|
| Minimum Deposit | £100.00 | $100 |
| Average Spread EUR/USD - Standard | 1.4 | 0.93 |
| All-in Cost EUR/USD - Active | 0.74 | 0.61 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| 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 the range of investments offered by City Index and AvaTrade, City Index stands out with a broader selection, featuring an impressive 13,500 tradeable symbols compared to AvaTrade's 1,260. Both brokers provide opportunities for forex trading through CFDs or spot contracts, but City Index offers more forex pairs, with 66 available compared to AvaTrade's 53. Neither platform grants access to purchasing exchange traded securities directly on U.S. or international exchanges. However, both platforms support copy trading, allowing investors to mimic successful trading strategies. Additionally, they enable users to trade cryptocurrency derivatives, although neither offers the option to buy actual cryptocurrencies.
In terms of ratings and rankings for their investment offerings, City Index earns a stellar five-star rating, ranking 8th out of 62 brokers by ForexBrokers.com. AvaTrade, on the other hand, garners a respectable four-star rating, but it falls lower in the rankings at 32nd in the same category. While both brokers offer diverse investment opportunities, City Index's wider range of tradeable symbols and higher rankings make it the more attractive choice for those seeking extensive investment options.
| Feature |
City Index
|
AvaTrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 1260 |
| Forex Pairs (Total) | 66 | 53 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| 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 it comes to trading platforms and tools, both City Index and AvaTrade offer strong options for investors. Each provides simulated trading via free virtual demo accounts, allowing users to practice without risk. Both brokers have developed their proprietary platforms in-house and offer comprehensive Windows-based desktop and web-based platforms, making it easy for traders to access the markets from anywhere. Additionally, City Index and AvaTrade support MetaTrader 4 (MT4), a popular trading platform known for its advanced charting tools. However, AvaTrade also supports MetaTrader 5 (MT5), which offers more recent features, while City Index does not.
For those interested in copy trading, both brokers extend this feature, with AvaTrade further supporting DupliTrade and ZuluTrade platforms. In terms of charting capabilities, City Index excels with a significant 239 drawing tools available, while AvaTrade offers 13. When it comes to tracking market opportunities, City Index provides 11 columns for watch lists compared to AvaTrade's 7. Both brokers have been rated 4.5 stars for their trading platforms and tools, yet City Index ranks slightly higher at #10 compared to AvaTrade at #13 on ForexBrokers.com's list of 62 brokers. Overall, both City Index and AvaTrade present traders with solid choices, each with its unique strengths.
| Feature |
City Index
|
AvaTrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| 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 | Yes |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 80 |
| Charting - Drawing Tools (Total) | 239 | 13 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
For traders seeking reliable mobile trading options, both City Index and AvaTrade offer compelling apps available on iPhone and Android. They provide essential features like price alerts for stock or forex and can sync watchlists seamlessly between the app and an online account. This ensures all updates made are accessible on both platforms. City Index edges out AvaTrade in terms of technical capabilities, offering 88 technical studies compared to AvaTrade's 73. Both brokers facilitate trendline drawing on charts and support viewing various time frames like daily, weekly, or intraday. However, only City Index's app auto-saves chart drawings, which could be a deciding factor for traders who frequently update their analyses.
Adding to their robust feature lists, both apps allow users to build watchlists with real-time quotes, making it easy to monitor favorite instruments. Despite these similarities, City Index surpasses AvaTrade in industry rankings by securing the 9th position out of 62 brokers in the Mobile Trading Apps category according to ForexBrokers.com, while AvaTrade ranks 13th. Nevertheless, both apps receive a 4.5-star rating, reflecting their high user satisfaction. When choosing between these apps, traders might favor City Index for its slightly more advanced charting options and better app features, even though both apps offer a seamless trading experience overall.
| Feature |
City Index
|
AvaTrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 73 |
| 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 it comes to market analysis and research, City Index and AvaTrade both provide their users with a variety of insightful resources, though some differences are notable. City Index stands out with its daily market commentary, providing frequent updates that keep traders informed. AvaTrade, on the other hand, does not offer daily market commentary. Both brokers deliver forex news from leading sources such as Bloomberg, Reuters, and Dow Jones, ensuring traders have access to top-quality information. Additionally, each platform features technical analysis tools from Trading Central and sentiment-based trading tools, helping traders understand market trends and investor sentiment.
Despite these similarities, City Index and AvaTrade differ in their research ratings and rankings. City Index earned 4.5 stars for research, compared to AvaTrade's 4 stars. Furthermore, City Index is ranked #10 out of 62 brokers by ForexBrokers.com in the research category, while AvaTrade is positioned at #34. Both brokers offer economic calendars to keep traders aware of significant global events, though neither provides research tools from companies like Autochartist, TipRanks, or Acuity Trading. These distinctions highlight City Index's slight edge in delivering a more comprehensive research package overall.
| Feature |
City Index
|
AvaTrade
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| 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.
City Index and AvaTrade both provide a comprehensive selection of educational resources for new traders learning about forex and CFDs. They each offer at least ten educational pieces, including articles, videos, and archived webinars that focus on forex and CFDs. In terms of interactive learning, both platforms conduct online educational webinars at least once a month and maintain a searchable archive of these sessions, enabling users to revisit past topics anytime.
For those just beginning their trading journey, City Index and AvaTrade ensure a strong foundation through at least ten beginner-focused videos. Additionally, they both cater to more experienced traders with over ten advanced educational videos. Each platform includes an investor dictionary with definitions of more than 50 trading terms to clarify jargon. When it comes to educational quality, City Index is rated 4.5 stars, ranking 9th out of 62 brokers. AvaTrade, with a slightly lower rating of 4 stars, achieves an impressive 2nd place ranking, underscoring their commitment to trader education.
| Feature |
City Index
|
AvaTrade
|
|---|---|---|
| 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 | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that City Index is better than AvaTrade. City Index finished with an overall rank of #8, while AvaTrade finished with an overall rank of #13.
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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AvaTrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 94 |
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Both City Index and AvaTrade provide the option to trade cryptocurrency derivatives, but neither offers the ability to purchase actual delivered cryptocurrencies.
When comparing online brokers City Index and AvaTrade, City Index supports ACH and SEPA transfers while AvaTrade does not, both brokers offer PayPal and Visa or Mastercard for account transactions, City Index lacks Skrill as an option unlike AvaTrade, and both allow bank wire deposits and withdrawals.
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 | AvaTrade | |
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| Trust Score | 99 | 94 | |
| Winner | check_circle | ||
| Review | City Index Review | AvaTrade Review |
| Broker Screenshots | City Index | AvaTrade | |
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| Regulation | City Index | AvaTrade | |
|---|---|---|---|
| Trust Score | 99 | 94 | |
| Year Founded | 1983 | 2006 | |
| 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 | 3 | |
| Tier-3 Licenses | 0 | 1 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | City Index | AvaTrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | Yes | |
| 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 | AvaTrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | AvaTrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 1260 | |
| Forex Pairs (Total) | 66 | 53 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| 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 | AvaTrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 0.93 | |
| All-in Cost EUR/USD - Active | 0.74 | 0.61 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | AvaTrade | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| 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 | AvaTrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| 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 | Yes | |
| ZuluTrade | No | Yes |
| Trading Tools | City Index | AvaTrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 80 | |
| Charting - Drawing Tools (Total) | 239 | 13 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | AvaTrade | |
|---|---|---|---|
| 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 | 73 | |
| 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 | AvaTrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| 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 | AvaTrade | |
|---|---|---|---|
| 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 | Yes |
| Major Forex Pairs | City Index | AvaTrade | |
|---|---|---|---|
| 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 | AvaTrade Review |
| Overall | City Index | AvaTrade | |
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| Trust Score | 99 | 94 | |
| Winner | check_circle | ||
| Review | City Index Review | AvaTrade Review |
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