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Saxo vs City Index 2026

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025
  Fact Checked

In this head to head comparison of Saxo vs City Index, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Saxo
5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 99
  • Tradeable Symbols (Total): 71000
City Index
5/5 Stars Overall
  • Minimum Deposit: £100.00
  • Trust Score: 99
  • Tradeable Symbols (Total): 13500

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.

Regulation

Saxo and City Index are two well-established online brokers with strong regulatory standings. Saxo was founded in 1992 and operates as a bank, while City Index, founded in 1983, is publicly traded but not a bank. Both brokers hold a total of seven Tier-1 licenses, which are considered highly trusted by ForexBrokers.com, and one Tier-2 license, marking them as reliable platforms for investors.

In terms of trustworthiness, both Saxo and City Index boast a perfect Trust Score of 99 out of 99, demonstrating their high levels of customer confidence. Whether you're looking for a bank-backed broker like Saxo or a publicly traded option like City Index, both offer secure and regulated environments for trading with top-tier regulatory compliance.

Feature Saxo logoSaxo
City Index logoCity Index
Year Founded info 1992 1983
Publicly Traded (Listed) info No Yes
Bank info Yes No
Tier-1 Licenses info 7 7
Tier-2 Licenses info 1 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 1

Fees

Saxo comes out ahead on commissions and fees, earning 5 out of 5 stars and ranking #8 out of 36 brokers for this category. It offers commission-free forex trading, with costs mainly built into the spread, and its pricing is especially strong for active traders, high-volume traders, and clients who keep larger balances. As of November 2023, EUR/USD average spreads were 1.1 pips on the Classic account, 1.0 pip on Platinum, and 0.9 pip on VIP, with lower minimum spreads available. Saxo also waives custody fees for share trading if you opt into securities lending, and the Classic account now has a $0 minimum deposit for new customers.

City Index is also competitive, but its fees are a bit more in line with the industry average. It earns 4.5 out of 5 stars and ranks #16 out of 36 brokers for commissions and fees. On its CFD account, City Index reported an average EUR/USD spread of 0.74 pips as of July 2023, which keeps all-in costs reasonable, though still not at the very lowest end of the market. Traders using City Index’s own platforms or MetaTrader may find the best pricing, while active traders can also look into rebates and discounts in the U.K. and Australia.

Overall, Saxo is the better choice for pricing if you qualify for its higher account tiers or trade in larger volumes, while City Index offers solid everyday pricing that sits closer to the market average. Saxo’s biggest savings are in Platinum and VIP, though the entry-level Classic account is less competitive than its top tiers. City Index is a good middle-ground option for traders who want fair fees without needing very large deposits or extremely high trading volumes.

Feature Saxo logoSaxo
City Index logoCity Index
Minimum Deposit info $0 £100.00
Average spread (EUR/USD) - Standard account info 1.0 info 1.4 info
All-in Cost EUR/USD - Active info 0.8 info 0.9 info
Non-wire bank transfer info No Yes
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No No
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

Saxo and City Index both give traders access to forex as CFDs or spot contracts, and both offer crypto CFDs, but neither lets you buy actual cryptocurrency. Where Saxo stands out is in the sheer size of its market list, with about 71,000 tradable symbols and 190 forex pairs, compared with City Index’s 13,500 symbols and 66 forex pairs. Saxo also lets clients buy real shares on U.S. and international exchanges, while City Index does not offer exchange-traded securities outside CFDs.

For extra tools, City Index has copy trading, while Saxo does not. Even so, both brokers earn 5 stars for Range of Investments, which shows that each offers a wide selection overall. In ForexBrokers.com’s ranking of 36 brokers for this category, Saxo places higher at #3, while City Index comes in at #8.

Feature Saxo logoSaxo
City Index logoCity Index
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 71000 13500
Forex Pairs (Total) info 190 66
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info No Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) info 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.

Trading platforms and tools

Saxo and City Index both give traders a wide range of platform choices, including a free demo account, their own in-house platforms, a Windows desktop app, and a web-based platform. Both also let users place trades directly from a chart, which can be handy for quick decisions and active trading. In ForexBrokers.com’s Trading Platforms and Tools review, Saxo is rated 5 stars and ranked #3 out of 36 brokers, while City Index is rated 4.5 stars and ranked #11.

The main differences are in extra features. City Index supports copy trading and MetaTrader 4, while Saxo does not offer either one. Neither broker offers MetaTrader 5. For traders who want a simple, flexible platform setup with strong tools, both are solid options, but Saxo appears stronger overall in this category, while City Index may appeal more to traders who want MT4 access or copy trading.

Feature Saxo logoSaxo
City Index logoCity Index
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No No
Charting - Indicators / Studies (Total) info 61 88
Charting - Trade From Chart info Yes Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Saxo and City Index both offer mobile trading apps for iPhone and Android, along with stock and forex price alerts, watchlist syncing, trendline drawing, and auto-saving chart drawings. In other words, both apps cover the core tools most traders want when managing positions on the go. Saxo’s mobile app is rated 5 stars for Mobile Trading Apps and is ranked #3 out of 36 brokers by ForexBrokers.com, while City Index is rated 4.5 stars and ranked #9.

Where City Index has an edge is charting depth, offering 88 technical studies compared with Saxo’s 64. Saxo, however, still delivers a highly polished mobile experience overall, especially for traders who value a top-rated app and strong all-around usability. If your priority is more chart indicators, City Index may appeal more; if you want the higher-rated app with a stronger overall mobile ranking, Saxo stands out.

Feature Saxo logoSaxo
City Index logoCity Index
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 64 88
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

Saxo and City Index both give traders a strong set of market research tools. Each offers daily market commentary, forex news from major sources like Bloomberg, Reuters, or Dow Jones, a sentiment tool that shows long and short positioning, and an economic calendar for tracking upcoming events. Neither broker includes TipRanks or Acuity Trading research tools.

Where they differ is in the extra analysis features they provide. Saxo includes Autochartist, while City Index does not, and City Index offers Trading Central tools, which Saxo does not. That broader research range helps explain Saxo’s higher Research score of 5 stars and its #1 ranking out of 36 brokers, compared with City Index’s 4.5 stars and #10 ranking.

Feature Saxo logoSaxo
City Index logoCity Index
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central info No Yes
Client sentiment data info Yes Yes
TipRanks info No No
Acuity Trading info No No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

Saxo and City Index both give beginners plenty of learning support, with each offering forex and CFDs education, regular online webinars, and at least 10 beginner videos plus 10 advanced videos. That means new traders can find basic guides as well as more advanced lessons on both platforms, which is helpful if you want to build skills over time.

When comparing the two, Saxo earns a 5-star Education rating from ForexBrokers.com and is ranked #12 out of 36 brokers, while City Index scores 4.5 stars and ranks #9. In simple terms, both are strong choices for education, but City Index edges ahead in the ranking, while Saxo gets the slightly higher star rating.

Feature Saxo logoSaxo
City Index logoCity Index
Webinars info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that Saxo is better than City Index. Saxo finished with an overall rank of #3, while City Index finished with an overall rank of #8.

Saxo is a multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.

Feature Saxo logoSaxo
City Index logoCity Index
Overall Rating info 5/5 Stars 5/5 Stars
Trust Score info 99 99
Range of Investments 5/5 Stars 5/5 Stars
Trading Fees 5/5 Stars 4.5/5 Stars
Trading Platforms 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4.5/5 Stars

FAQs

Can you trade cryptocurrency with Saxo or City Index?

Comparing Saxo vs City Index for crypto trading: neither broker lets you buy actual (delivered) cryptocurrencies, but both offer trading in cryptocurrency CFDs.

What funding options does each broker offer?

In a head-to-head comparison of deposit and withdrawal methods, Saxo supports bank wire transfers only—no ACH/SEPA, PayPal, or Skrill, with Visa/Mastercard availability unspecified—while City Index offers bank wires plus ACH/SEPA and PayPal (no Skrill; Visa/Mastercard unspecified), giving City Index broader funding flexibility.

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Overall Rating Saxo City Index
Overall Rating info 5/5 Stars 5/5 Stars
Trading Fees 5/5 Stars 4.5/5 Stars
Range of Investments 5/5 Stars 5/5 Stars
Trading Platforms 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4.5/5 Stars
Trust Score info 99 99
Winner check_circle
Review Saxo Review City Index Review
Broker Screenshots Saxo City Index
Broker Gallery (click to expand) info
Saxo SaxoTraderGO mobile charts. Saxo SaxoTraderGO web platform webinars SaxoTraderGO web platform US election geopolitical market event theme. Saxo's research daily articles forex market analysis
City Index MetaTrader 4 mobile trading app City Index web platform trading. City Index web platform research Trading Central City Index educational course advanced.
Regulation Saxo City Index
Trust Score info 99 99
Year Founded info 1992 1983
Publicly Traded (Listed) info No Yes
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 7 7
Tier-2 Licenses info 1 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 1
Tier-1 Licenses (Highly Trusted) Saxo City Index
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No Yes
Hong Kong (SFC Authorised) info Yes No
Japan (FSA Authorised) info Yes No
Singapore (MAS Authorised) info Yes Yes
Switzerland (FINMA Authorised) info Yes
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) Saxo City Index
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA, FSRA, or CMA Authorised) info Yes info Yes
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info
Investments Saxo City Index
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 71000 13500
Forex Pairs (Total) info 190 66
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info No Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) info 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 Saxo City Index
Average spread (EUR/USD) - Standard account info 1.0 info 1.4 info
All-in Cost EUR/USD - Active info 0.8 info 0.9 info
Inactivity Fee info Yes Yes
Order execution: Agency info Yes No
Order execution: Market Maker info Yes Yes
Funding Saxo City Index
Minimum Deposit info $0 £100.00
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No No
Bank Wire (Deposit/Withdraw) info Yes Yes
Non-wire bank transfer info No Yes
Trading Platforms Saxo City Index
Proprietary Desktop Trading Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No No
cTrader info No No
Trading Tools Saxo City Index
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 61 88
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Saxo City Index
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 64 88
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes
Mobile Research - Economic Calendar info Yes Yes
Research Saxo City Index
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central info No Yes
TipRanks info No No
Client sentiment data info Yes Yes
Economic Calendar info Yes Yes
Education Saxo City Index
Webinars info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Major Forex Pairs Saxo City Index
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review Saxo Review City Index Review
Overall Saxo City Index
Overall Rating info 5/5 Stars 5/5 Stars
Trading Fees 5/5 Stars 4.5/5 Stars
Range of Investments 5/5 Stars 5/5 Stars
Trading Platforms 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4.5/5 Stars
Trust Score info 99 99
Winner check_circle
Review Saxo Review City Index Review
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