Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs City Index, 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.
When comparing online brokers CMC Markets and City Index, both have established strong credibility in the financial market, with high trust scores of 99 out of 99 as per ForexBrokers.com. CMC Markets, founded in 1989, and City Index, dating back to 1983, are both publicly traded, offering transparency and reliability to investors. Neither is a bank, yet both have secured multiple licenses, ensuring compliance with top-tier regulatory standards worldwide.
CMC Markets holds five Tier-1 licenses, indicating it is highly trusted, along with one Tier-2 license. City Index surpasses this with seven Tier-1 licenses and one Tier-2 license, showcasing its global reach and respected status. The reliability and regulatory oversight of both brokers make them appealing choices for anyone looking to engage in online trading with peace of mind.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Year Founded | 1989 | 1983 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 5 | 7 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to commissions and fees, CMC Markets stands out as a top contender in the industry. In our 2025 Annual Awards, they clinched the #1 spot in the Commissions and Fees category, thanks to their consistently low spread offerings accessible to all account types and customer segments. A key highlight is their competitive average spread of 0.61 pips on the EUR/USD, based on August 2023 data. Through CMC Markets' new Price Plus Scheme, the active trader program offers significant discounts on trading costs. For instance, investors can earn Trading Points to qualify for up to a 20% spread discount by trading 1,250 standard lots in a month. Furthermore, their FX Active pricing structure, launched in 2022, reinforces their advantageous position with a commission-based pricing of $2.50 per side and a minimum spread of zero pips, impacting the final trading cost favorably.
Compared to CMC Markets, City Index offers pricing that aligns with the industry average for its CFDs, forex, and spread-betting products. To access the most competitive rates, City Index recommends trading on its proprietary platforms or MetaTrader. The Premium Trader account, available for active traders who deposit over £10,000, provides exclusive benefits including advantageous pricing. As of July 2023, City Index maintains an average spread of 0.74 pips on the EUR/USD, trailing behind top competitors like Tickmill and FP Markets. City Index also offers rebates and discounts for UK and Australian professional traders, rewarding substantial monthly trading volumes with significant cost savings.
In terms of ratings, CMC Markets outshines with a perfect 5-star score for commissions and fees, securing them the #1 rank among 62 brokers as per ForexBrokers.com. Meanwhile, City Index receives a commendable 4.5-star rating, placing them at #14 in the same category. The compelling value that comes with CMC Markets’ pricing structures makes them a favored choice for traders seeking low trading costs and transparency.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Minimum Deposit | $0 | £100.00 |
| Average Spread EUR/USD - Standard | 0.61 | 1.4 |
| All-in Cost EUR/USD - Active | 0.51 | 0.74 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing CMC Markets and City Index, both brokers provide a wide range of investment opportunities, including forex trading available as CFDs or spot contracts. City Index has a slight edge with 13,500 tradeable symbols compared to CMC Markets' 11,925. However, CMC Markets offers a more extensive selection of forex pairs, boasting 156 options against City Index's 66 pairs. Both platforms allow for cryptocurrency derivative trading, but neither offers the ability to purchase the actual cryptocurrency.
CMC Markets stands out with the ability to trade exchange-traded securities on both U.S. and international exchanges, an option City Index does not provide. This feature allows CMC clients to purchase actual shares like Apple on the NASDAQ or Vodafone on the London Stock Exchange. Both brokers support copy trading, enabling users to replicate the strategies of seasoned traders. Despite different strengths, CMC Markets and City Index both receive a five-star rating for their range of investments, with ForexBrokers.com ranking them closely at #9 and #8, respectively, among 62 brokers evaluated.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 11925 | 13500 |
| Forex Pairs (Total) | 156 | 66 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | 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.
Both CMC Markets and City Index offer strong trading platforms, appealing to both beginners and experienced traders. They provide free virtual demo accounts, helping newcomers practice without financial risk. Each broker boasts a proprietary platform, available for download on Windows and accessible through web browsers. For those interested in automated trading, copy trading is supported by both brokers, and they offer MetaTrader 4 (MT4), a well-known platform among forex traders. However, MT5 is available only with CMC Markets. While neither broker supports DupliTrade or ZuluTrade, City Index offers a significantly larger selection of drawing tools, totaling 239, compared to CMC Markets' 40, which might interest advanced chartists. Both platforms facilitate trading directly from charts and organize watch lists with 11 customizable fields.
CMC Markets excels in rating and ranking for its trading platforms and tools, earning a perfect five-star rating and the fourth position out of 62 brokers on ForexBrokers.com. City Index, while still commendable with a 4.5-star rating, ranks tenth. For traders prioritizing comprehensive charting options and a variety of trading tools, City Index provides extensive offerings. Conversely, CMC Markets stands out with its higher platform ranking and the inclusion of MT5, catering to traders seeking flexibility and advanced trading functionalities. Ultimately, both brokers provide substantial trading platforms and resources to enhance the trading experience.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| 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) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 79 | 88 |
| Charting - Drawing Tools (Total) | 40 | 239 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 11 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of CMC Markets and City Index, both platforms offer extensive features that cater to traders on the go. Users can access both iPhone and Android apps, which ensure flexibility and convenience. Both brokers provide real-time price alerts and sync watchlists between mobile and desktop platforms, so your watchlist stays up-to-date. You can effortlessly draw trendlines and switch between multiple time frames in both apps, and they each support watchlists with real-time quotes. Moreover, drawings on stock or forex charts are auto-saved, allowing traders to focus more on analysis rather than technical settings.
CMC Markets and City Index exhibit notable differences in terms of charting capabilities. While CMC Markets offers 29 technical studies, City Index boasts an impressive 88, providing more options for in-depth technical analysis. However, CMC Markets slightly edges out in overall mobile app ratings, scoring 5 stars compared to City Index's 4.5. Additionally, ForexBrokers.com ranks CMC Markets at #5, while City Index holds the #9 spot among 62 brokers. Both apps deliver excellent functionalities, but CMC Markets seems to lead in ratings and rankings, making it a preferred choice for some traders seeking a comprehensive mobile trading experience.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 29 | 88 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
CMC Markets and City Index both deliver daily market commentary and forex news sourced from leading outlets such as Bloomberg and Reuters, ensuring traders stay informed with high-quality information. Both platforms provide a sentiment-based trading tool that reveals the ratio of long or short positions among various instruments, and they feature comprehensive economic calendars to track significant global economic events. However, when it comes to additional research tools, CMC Markets has an edge by offering resources from Autochartist, providing additional technical and fundamental analysis tools, while City Index does not; in contrast, City Index provides access to powerful technical analysis tools from Trading Central, which CMC Markets does not.
While neither broker collaborates with TipRanks or Acuity Trading for additional market insights, both maintain strong overall research offerings. CMC Markets is rated an impressive 5 stars for research and ranked 6th out of 62 brokers according to ForexBrokers.com, while City Index follows closely with a 4.5-star rating and a rank of 10th. Both platforms meet a high standard in market research, with each offering unique tools that cater to diverse trading preferences, helping traders make more informed decisions.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | 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 CMC Markets and City Index offer a wealth of content to help you learn about forex and CFDs trading. CMC Markets provides more than ten educational pieces, including articles and videos, and maintains a searchable archive of previously recorded webinars. They also offer an investor dictionary and a well-rounded collection of beginner and advanced educational videos. Although CMC Markets does not hold monthly webinars, it still garners a commendable 5-star education rating and ranks #10 among 62 brokers in this category.
City Index similarly offers a comprehensive suite of educational materials, with over ten educational pieces and a full library of beginner and advanced videos. They enhance their educational offerings with monthly client webinars and a searchable archive for recorded sessions. This approach results in a 4.5-star education rating and a slightly higher rank of #9 among brokers. Both platforms are excellent choices for beginners seeking to understand forex and CFDs, but the availability of regular webinars makes City Index particularly appealing for those who appreciate live, interactive learning opportunities.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | 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 CMC Markets is better than City Index. CMC Markets finished with an overall rank of #4, while City Index finished with an overall rank of #8.
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both CMC Markets and City Index do not offer the option to buy actual, delivered cryptocurrency, but they do provide the ability to trade cryptocurrency derivatives.
Both CMC Markets and City Index provide flexible funding options including ACH/SEPA transfers, PayPal, and Visa/Mastercard, alongside bank wire transfers, though neither platform supports Skrill for account deposits or 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 | CMC Markets | City Index | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | City Index Review |
| Broker Screenshots | CMC Markets | City Index | |
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| Regulation | CMC Markets | City Index | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1989 | 1983 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 7 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | City Index | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | CMC Markets | City Index | |
|---|---|---|---|
| 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 | CMC Markets | City Index | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 11925 | 13500 | |
| Forex Pairs (Total) | 156 | 66 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | CMC Markets | City Index | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.61 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.51 | 0.74 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | City Index | |
|---|---|---|---|
| Minimum Deposit | $0 | £100.00 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | CMC Markets | City Index | |
|---|---|---|---|
| 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) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | CMC Markets | City Index | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 11 | |
| Charting - Indicators / Studies (Total) | 79 | 88 | |
| Charting - Drawing Tools (Total) | 40 | 239 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | City Index | |
|---|---|---|---|
| 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 | 29 | 88 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | CMC Markets | City Index | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | City Index | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | 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 | CMC Markets | City Index | |
|---|---|---|---|
| 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 | CMC Markets Review | City Index Review |
| Overall | CMC Markets | City Index | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | City Index Review |
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