Written by ForexBrokers.com
In this head to head comparison of City Index vs IronFX, 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, established in 1983, is a well-regulated online broker listed on the stock exchange, making it highly trustworthy. It holds an impressive tally of seven Tier-1 licenses, recognized as top-level in terms of trust, and one Tier-2 license, also considered trustworthy. This strong regulatory standing, combined with its Trust Score rating of 99, marks City Index as an exceptionally reliable choice for traders.
In contrast, IronFX, founded in 2010, is not publicly listed but maintains a respectable regulatory framework with three Tier-1 licenses. However, it lacks Tier-2 licenses. With a Trust Score of 83, IronFX is deemed a trusted option but falls short of City Index's peak trustworthiness. Both brokers are not banks, providing a focused service in the trading domain.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| Year Founded | 1983 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
City Index offers pricing for CFDs, forex, and spread-betting products that aligns with the industry average, although it does not lead among the best brokers like Tickmill and FP Markets. With an average spread of 0.74 pips on the EUR/USD, City Index provides competitive fees. The broker offers a Premium Trader account for those depositing more than £10,000, granting access to exclusive pricing, events, and personalized customer service. Active traders can benefit from rebates, where U.K.-based professional traders may receive up to £7.5 per million if they trade over £300 million per month. In Australia, rebate tiers scale between AUD $4.5 and AUD $14.5 per million. City Index earns a solid rating of 4.5 stars and holds the 14th position out of 62 brokers according to ForexBrokers.com.
Conversely, IronFX's commission and fee structure shows room for improvement as its spreads tend to be higher than the industry average. The Standard variable spread account features a typical spread of 1.8 pips, though specifics on the date range and variations across account types are less transparent. For traders seeking zero fixed spreads, IronFX offers an account that starts at zero spreads but incurs a $18 per lot commission, with spreads widening to 3 pips overnight. IronFX receives a 4-star rating for commissions and fees and is ranked 47th among 62 brokers by ForexBrokers.com, indicating it may lag behind its competitors.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| Minimum Deposit | £100.00 | $50 |
| Average Spread EUR/USD - Standard | 1.4 | 1.2 |
| All-in Cost EUR/USD - Active | 0.74 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| 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 and IronFX are both strong contenders in the arena of online trading, offering a variety of investment options like forex trading as CFDs or spot contracts. City Index boasts an impressive 13,500 tradeable symbols, while IronFX offers a selection of 340, including a wider range of tradeable forex pairs at 83 compared to City Index's 66. However, neither broker provides opportunities to buy exchange-traded securities on U.S. or international exchanges, such as stocks from companies like Apple or Vodafone. Both platforms enable traders to participate in copy trading and access cryptocurrency derivatives, although buying actual cryptocurrency is not an option on either platform.
When it comes to the range of investments, City Index stands out with a higher rating of 5 stars, ranking #8 out of 62 brokers according to ForexBrokers.com. In contrast, IronFX earns a rating of 3.5 stars, placing it at #51. This suggests that City Index may be more suited for traders seeking a broad selection of investment opportunities, while IronFX might appeal to those looking for a more focused but narrower range of options.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 340 |
| Forex Pairs (Total) | 66 | 83 |
| 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 comparing the trading platforms and tools of City Index and IronFX, both brokers provide access to popular platforms and features, including simulated trading with free virtual demo accounts. City Index stands out with its proprietary platform, developed in-house, offering traders a unique experience. Both brokers offer Windows-based desktop platforms and web-based trading options, along with MetaTrader 4 (MT4). Unfortunately, neither broker supports MetaTrader 5 (MT5), DupliTrade, or ZuluTrade. City Index excels in charting tools, providing 239 drawing tools compared to IronFX's 15, and an extensive 11 columns for watch lists, while IronFX provides 7.
The user-friendly nature of both brokers’ platforms allows trading directly from stock charts, emphasizing convenience. While both City Index and IronFX offer copy trading, City Index's trading platforms and tools earn a notable 4.5-star rating out of five, compared to IronFX's 3.5 stars. This higher rating, along with a #10 ranking out of 62 brokers by ForexBrokers.com, indicates a superior experience for traders who value advanced features and in-depth functionality. IronFX ranks #60, suggesting there might be better alternatives for those prioritizing platform capabilities.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| 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 | No |
| 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.
Both City Index and IronFX offer mobile trading apps for iPhone and Android users, enabling traders to access the market on the go. Their apps include features such as price alerts and the ability to draw trendlines on charts. While users can explore multiple time frames on charts with both brokers, City Index provides a more comprehensive experience with 88 technical studies compared to IronFX's 30. Importantly, the City Index app allows for seamless experience by syncing watchlists with the online account, a feature not available with IronFX.
City Index is lauded for its mobile trading app, receiving a 4.5-star rating and ranking 9th out of 62 brokers according to ForexBrokers.com. IronFX, while offering fundamental features, garners a lesser rating of 3.5 stars and ranks 61st. The City Index app's superior features, such as automatic saving of chart drawings and extensive charting capabilities, make it a preferred choice for those seeking a comprehensive mobile trading experience.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| 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.
City Index and IronFX both provide comprehensive market research tools to keep you informed and competitive. Each broker offers daily market commentary and provides forex news from esteemed sources such as Bloomberg, Reuters, and Dow Jones. Additionally, both platforms include technical analysis from Trading Central, helping traders to navigate the markets effectively. However, City Index stands out by offering a sentiment-based trading tool that provides insights into the ratio of long or short positions across various instruments—a feature IronFX lacks. Despite both brokers lacking partnerships with companies like Autochartist, TipRanks, and Acuity Trading, they still manage to support traders with robust resources including well-structured economic calendars.
When it comes to ratings and rankings, City Index has the edge. With a research rating of 4.5 stars, this broker ranks #10 among 62 brokers reviewed by ForexBrokers.com. In comparison, IronFX receives a slightly lower rating of 4 stars, placing it at #28 in the same category. This suggests that, while both brokers are strong contenders in the realm of market research, City Index offers a slightly superior set of tools and insights that could give traders a competitive advantage.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| 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 | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Both City Index and IronFX cater to beginners with comprehensive educational resources focused on forex and CFDs, ensuring you have access to at least ten articles, videos, or webinars on these topics. However, City Index distinguishes itself by hosting monthly online webinars, a feature IronFX lacks. Additionally, both brokers provide searchable archives of past webinars, aiding those who prefer learning at their own pace. For those new to trading, City Index and IronFX each offer at least ten beginner videos, but City Index also excels with advanced educational content, a step ahead of IronFX's offerings.
An investor dictionary with more than 50 terms is available from both platforms, making it easier for newcomers to familiarize themselves with trading jargon. City Index boasts a higher educational rating of 4.5 stars compared to IronFX's 4 stars, reflecting the quality and breadth of its educational tools. According to ForexBrokers.com, City Index holds a commendable rank of 9th out of 62 brokers for educational resources, while IronFX stands at 44th place. This suggests City Index provides a more enriching educational experience, ideal for traders keen to deepen their understanding of the markets.
| Feature |
City Index
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 IronFX. City Index finished with an overall rank of #8, while IronFX finished with an overall rank of #48.
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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IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 83 |
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Neither City Index nor IronFX offers the ability to buy actual delivered cryptocurrency, but both provide options to purchase cryptocurrency derivatives.
City Index offers diverse deposit and withdrawal options including ACH, SEPA, PayPal, Visa, Mastercard, and bank wires, while IronFX supports Skrill, Visa, Mastercard, and bank wires but lacks ACH, SEPA, and PayPal options, making City Index more accommodating for users seeking flexible payment methods.
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 | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | City Index Review |
| Broker Screenshots | City Index | IronFX | |
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| Regulation | City Index | IronFX | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1983 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | City Index | IronFX | |
|---|---|---|---|
| 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) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 340 | |
| Forex Pairs (Total) | 66 | 83 | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.74 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | IronFX | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $50 | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| 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 | City Index | IronFX | |
|---|---|---|---|
| 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 | No | |
| Economic Calendar | Yes | Yes |
| Education | City Index | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | IronFX | |
|---|---|---|---|
| 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 |
| Overall | City Index | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | City Index Review |
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