Written by ForexBrokers.com
In this head to head comparison of FOREX.com 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.
FOREX.com and City Index are both esteemed online brokers with long-standing market presence, established in 1999 and 1983 respectively. Both are publicly traded and not banks, enhancing transparency for traders. Each broker holds seven Tier-1 licenses, a reflection of their strong regulatory standing and adherence to high trust standards as per ForexBrokers.com. Moreover, each holds one Tier-2 license, contributing further to their trusted status.
In terms of overall trust, FOREX.com and City Index both achieve the maximum ForexBrokers.com Trust Score of 99 out of 99, indicating a highly trusted reputation in the online trading industry. Their equivalent trust ratings and regulatory credentials make them reliable choices for traders seeking secure and reputable platforms.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| Year Founded | 1999 | 1983 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 7 | 7 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
FOREX.com and City Index are two popular options for traders, each with their own pricing structures and execution methods. FOREX.com offers several account types and execution methods but is generally considered slightly more expensive than the industry average in the U.S., with average spreads of 1.4 pips on the EUR/USD for their Standard account as of July 2023. This account may appeal to traders who value the benefits of market-maker execution despite the higher spreads. Their Raw account, which replaces the former DMA account globally, offers lower spreads averaging 0.13 pips but includes a per trade commission. Active trader discounts are available, with some volume-based rebates for those who trade extensively.
City Index, on the other hand, aligns its pricing with the industry average for trading CFDs, forex, and spread-betting products. Their CFD account features an average spread of 0.74 pips on the EUR/USD, which is competitive but not as low as some of the leading brokers like Tickmill. Timely rebate opportunities exist for U.K.-based professional traders and Australian traders, providing rebates up to £7.5 or AUD $14.5 per million depending on trading volume. The Premium Trader account is tailored for traders who can deposit over £10,000, offering exclusive pricing and dedicated customer service.
In terms of ratings, both FOREX.com and City Index receive 4.5 out of five stars for commissions and fees. When compared across 62 brokers by ForexBrokers.com, FOREX.com is ranked 13th, whereas City Index is slightly lower at 14th. Both brokers offer competitive fee structures, so your choice might depend on personal trading habits, the desired trading platform, and level of customer service you're seeking.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| Minimum Deposit | $100 | £100.00 |
| Average Spread EUR/USD - Standard | 1.4 | 1.4 |
| All-in Cost EUR/USD - Active | 0.9 | 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 online brokers FOREX.com and City Index, both platforms offer a range of investment opportunities, including forex trading as CFDs or spot contracts. FOREX.com provides an impressive 5,500 tradeable symbols, while City Index steps it up with an extensive 13,500 symbols. In terms of tradeable forex pairs, FOREX.com offers 91, surpassing City Index's 66 pairs. Neither platform allows trading of exchange-traded securities on U.S. or international exchanges, meaning you won't be able to purchase shares like Apple or Vodafone directly. They both also limit cryptocurrency to derivative trading only, without the option to buy actual cryptocurrencies.
City Index distinguishes itself by offering copy trading, which isn't available on FOREX.com, giving investors the ability to replicate the trades of successful traders. Despite this difference, both brokers earn a solid rating of five stars for their range of investments. According to ForexBrokers.com rankings out of 62 brokers, FOREX.com is ranked 7th, while City Index follows closely at the 8th position, highlighting their competitive standing in investment offerings.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 13500 |
| Forex Pairs (Total) | 91 | 66 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | No | 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 FOREX.com and City Index provide excellent options for traders seeking versatile trading platforms and tools. Both brokers offer simulated trading with free virtual demo accounts, allowing users to practice without risking real money. Each company has developed its own platforms, accessible via Windows-based desktop downloads and web browsers, providing flexibility and convenience for different trading preferences. Additionally, both brokers support the MetaTrader 4 platform, although FOREX.com also offers MT5, giving its clients more advanced analytics and trading capabilities. On the other hand, City Index supports copy trading, adding a social angle to trading that FOREX.com does not offer.
When it comes to charting features, both brokers supply a generous suite of 239 drawing tools for comprehensive technical analysis. However, FOREX.com edges ahead with 20 watch list columns, compared to City Index's 11, providing a more detailed overview for traders monitoring various markets. While both platforms allow trading directly from stock charts, FOREX.com is rated five stars for trading platforms and tools compared to City Index's 4.5 stars. In rankings, FOREX.com holds the seventh position among 62 brokers in the category, while City Index is ranked tenth, illustrating slightly different strengths for traders to consider based on their specific needs.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 88 |
| Charting - Drawing Tools (Total) | 239 | 239 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 20 | 11 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both FOREX.com and City Index offer comprehensive solutions for traders on the go. Both platforms provide apps compatible with iPhone and Android devices, allowing flexibility and convenience no matter where you are. Users of both apps can benefit from features like stock or forex price alerts, as well as the ability to sync watchlists with their online accounts, ensuring that any changes made are reflected across all devices. With each platform offering 88 technical studies for charting and the ability to draw trendlines, traders can conduct in-depth analyses directly from their mobile devices. Additionally, both apps allow users to view charts across multiple time frames, such as daily, weekly, or intraday, and automatically save any drawings made on charts. Creating watchlists with real-time quotes is a breeze on both platforms, making it easy to monitor favorite stocks or currencies.
Despite the similarities, there are slight differences in user satisfaction and rankings. FOREX.com has earned an impressive 5-star rating for its mobile trading app, receiving high praise for its performance and features. Consequently, it holds a notable third place in the Mobile Trading Apps category according to ForexBrokers.com, out of a total of 62 brokers. On the other hand, City Index has garnered a respectable 4.5-star rating, ranking ninth in the same category. These metrics highlight FOREX.com's slightly higher standing in user preference and ranking when compared with City Index, offering potential users insight into each platform's reception in the competitive online broker landscape.
| Feature |
FOREX.com
|
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 | 88 | 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.
When it comes to market research, both FOREX.com and City Index offer comprehensive resources to support your trading decisions. Each broker provides daily market commentary and access to forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. Both platforms also integrate Trading Central's tools for technical analysis and fundamental research, as well as sentiment-based trading tools that display the ratio of long or short positions across various currency pairs. Additionally, both brokers supply an economic calendar highlighting important global news events, although neither broker includes tools from Autochartist, TipRanks, or Acuity Trading.
Despite their similarities, minor differences exist in their overall rankings and ratings. On a five-star scale for research offerings, both FOREX.com and City Index have earned a respectable 4.5-star rating. However, according to ForexBrokers.com, FOREX.com slightly edges out City Index, securing the 9th spot among 62 brokers, while City Index closely follows at 10th place. This distinction might influence your decision if you're weighing which platform offers the slight advantage in research resources.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| 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 FOREX.com and City Index provide extensive materials to help new traders get started. Each platform offers a robust selection of at least ten educational pieces, including articles, videos, and archived webinars focused on forex or CFDs. Beginners can also benefit from monthly online educational webinars and access to a searchable archive of past sessions, making it easier to learn at their own pace. Both brokers go further by offering a set of ten beginner-specific educational videos, ensuring traders have a strong foundation before diving into more advanced topics.
In addition to covering beginner needs, FOREX.com and City Index cater to experienced traders with a selection of at least ten advanced educational videos each. These brokers also provide an investor dictionary with over 50 investing terms, which is essential for demystifying industry jargon. Rated highly by ForexBrokers.com, both FOREX.com and City Index scored 4.5 stars for education, though FOREX.com holds a slight edge in rankings at #4 compared to City Index's #9 out of 62 brokers. Regardless, both platforms offer substantial educational offerings to equip traders with the knowledge they need.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| 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 FOREX.com is better than City Index. FOREX.com finished with an overall rank of #5, while City Index finished with an overall rank of #8.
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.
| Feature |
FOREX.com
|
City Index
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both FOREX.com and City Index do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
Both FOREX.com and City Index provide multiple options for depositing or withdrawing funds, including ACH and SEPA transfers, PayPal, Visa or Mastercard, and bank wires, though neither support transactions via Skrill.
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 | FOREX.com | City Index | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | City Index Review |
| Broker Screenshots | FOREX.com | City Index | |
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| Regulation | FOREX.com | City Index | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1999 | 1983 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 7 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | FOREX.com | City Index | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FOREX.com | 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 | FOREX.com | City Index | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 13500 | |
| Forex Pairs (Total) | 91 | 66 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | No | 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 | FOREX.com | City Index | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.74 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FOREX.com | City Index | |
|---|---|---|---|
| Minimum Deposit | $100 | £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 | FOREX.com | City Index | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FOREX.com | City Index | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 20 | 11 | |
| Charting - Indicators / Studies (Total) | 88 | 88 | |
| Charting - Drawing Tools (Total) | 239 | 239 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FOREX.com | 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 | 88 | 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 | FOREX.com | City Index | |
|---|---|---|---|
| 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 | FOREX.com | City Index | |
|---|---|---|---|
| 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 | FOREX.com | 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 | FOREX.com Review | City Index Review |
| Overall | FOREX.com | City Index | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | City Index Review |
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