Written by ForexBrokers.com
In this head to head comparison of City Index vs ThinkMarkets, 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 ThinkMarkets are two prominent choices for online brokerage services that cater to different investor needs. Founded in 1983, City Index boasts an impressive ForexBrokers.com Trust Score of 99 out of 99, reflecting its status as a highly trusted broker. The company holds seven Tier-1 licenses, indicating a strong regulatory foundation. Although not a bank, City Index is a publicly traded entity, providing an added layer of transparency for its clients.
ThinkMarkets, on the other hand, was established in 2010 and achieves a Trust Score of 92, categorizing it as a trusted broker. The firm holds five Tier-1 licenses, showing a solid regulatory presence, along with two Tier-2 licenses. Unlike City Index, ThinkMarkets is not publicly traded, yet it remains a reliable option for those seeking a trustworthy brokerage without the involvement of banking activities.
| Feature |
City Index
|
ThinkMarkets
|
|---|---|---|
| Year Founded | 1983 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 5 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
When comparing the commissions and fees of City Index and ThinkMarkets, it's essential to consider several factors to determine which online broker suits your trading needs. City Index offers pricing for CFDs, forex, and spread-betting products that align with the industry average. Their proprietary platforms and MetaTrader provide the best pricing options, making them an attractive choice for traders seeking competitive rates. Active traders with deposits over £10,000 can access a Premium Trader account, granting them special pricing, events, and personalized customer support. For those with a CFD account, City Index maintains an average spread of 0.74 pips on the EUR/USD as of July 2023, positioning them closely to the industry standard but slightly behind leading forex brokers like Tickmill and FP Markets. City Index also provides valuable rebates for professional traders in the UK and Australia, making them an appealing option for high-volume traders.
On the other hand, ThinkMarkets does not provide average spread data, making it more challenging to directly assess their competitiveness regarding commissions and fees. Despite this, ThinkMarkets still manages a respectable 4-star rating, which indicates a fair level of service in this category. However, compared to City Index's 4.5-star rating, ThinkMarkets may not offer the same degree of cost-effectiveness for traders who prioritize fee analysis in choosing a broker. Given that City Index is ranked 14th out of 62 brokers by ForexBrokers.com for Commissions and Fees, while ThinkMarkets ranks 48th, traders may find City Index to be a more favorable option based on this criterion.
Choosing between City Index and ThinkMarkets ultimately depends on your trading priorities and platform preferences. City Index offers competitive rates with additional perks for active traders, such as rebates and the Premium Trader account, whereas ThinkMarkets remains a solid choice but lacks detailed spread information. Both brokers have their unique strengths, but City Index's higher ranking and detailed fee structure might sway traders looking for transparency and additional benefits.
| Feature |
City Index
|
ThinkMarkets
|
|---|---|---|
| Minimum Deposit | £100.00 | $50 |
| Average Spread EUR/USD - Standard | 1.4 | 1.1 |
| 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 ThinkMarkets both offer clients the ability to trade forex, with City Index boasting a collection of 13,500 tradeable symbols compared to ThinkMarkets' 4,000. In the realm of forex pairs, City Index offers 66 while ThinkMarkets presents 46. Neither broker provides the option to invest directly in U.S. exchange-listed securities, but ThinkMarkets provides access to international equities, which City Index does not. Both brokers enable copy trading and offer cryptocurrency derivatives, though neither allows the purchase of actual cryptocurrencies.
In terms of investment range quality, City Index earns a five-star rating and ranks eighth among 62 brokers, showcasing its extensive offerings. ThinkMarkets, while also commendable with a 4.5-star rating for its range of investments, is positioned at 21st place, reflecting a slightly more limited selection compared to City Index. For investors seeking a broader array of trading options, City Index might be the more attractive choice, while those interested in international securities could find ThinkMarkets appealing.
| Feature |
City Index
|
ThinkMarkets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 4000 |
| Forex Pairs (Total) | 66 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| 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.
City Index and ThinkMarkets both provide a comprehensive array of trading platforms and tools that cater to a range of investor needs. Both brokers offer simulated trading via free virtual demo accounts, allowing users to practice without financial risk. They also provide proprietary platforms developed in-house, offering tailored experiences for traders. Accessibility is key, as both brokers ensure their services are available through Windows-based desktop downloads and web-based platforms. For those interested in automated strategies, copy trading is supported by both City Index and ThinkMarkets, alongside support for the popular MetaTrader 4 (MT4) platform. Notably, ThinkMarkets extends its offerings to include MetaTrader 5 (MT5), while City Index does not.
When it comes to trading tools, City Index provides a more extensive selection, boasting 239 drawing tools compared to ThinkMarkets' 15. Both brokers enable trading directly from stock charts and maintain detailed watch lists, although ThinkMarkets allows for more customization with 15 columns, surpassing City Index's 11. Despite these differences, City Index is rated slightly higher with 4.5 stars versus ThinkMarkets' 4 stars for Trading Platforms and Tools. This is reflected in their rankings, where City Index stands at #10, while ThinkMarkets is positioned at #27 out of 62 brokers in this category. Overall, traders looking for detailed analysis tools might prefer City Index, whereas those seeking MT5 capabilities would find ThinkMarkets more appealing.
| Feature |
City Index
|
ThinkMarkets
|
|---|---|---|
| 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 | 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 | 15 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of City Index and ThinkMarkets, both brokers offer apps for iPhone and Android devices, providing convenience and flexibility for users on the go. They each offer features like price alerts and the ability to draw trendlines on charts, ensuring users stay informed and engaged with their trading. However, one key difference is their watchlist syncing capability. While City Index allows watchlist symbol syncing between its mobile app and online account, ThinkMarkets does not offer this feature.
City Index's app comes equipped with 88 technical studies for charting, compared to ThinkMarkets which offers a slightly higher count of 94. Both apps support viewing different time frames on charts and auto-saving drawings. Each platform allows the creation of a watchlist with real-time quotes. City Index receives a higher user rating of 4.5 stars compared to ThinkMarkets' 4 stars, reflecting a more favorable reception. Additionally, City Index ranks 9th out of 62 brokers for mobile trading in the ForexBrokers.com listing, significantly ahead of ThinkMarkets, which stands at 20th.
| Feature |
City Index
|
ThinkMarkets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 94 |
| 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 comparing the market research offerings of City Index and ThinkMarkets, both brokers provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. However, City Index stands out by offering tools from Trading Central, a well-regarded technical analysis provider, while ThinkMarkets lacks this feature. Both brokers offer sentiment-based trading tools and maintain economic calendars, aiding traders in tracking global news events. Additionally, City Index's research capabilities earn it a 4.5-star rating, positioning it at #10 among 62 brokers according to ForexBrokers.com, whereas ThinkMarkets has a 3.5-star rating and ranks at #50.
While ThinkMarkets does not provide tools from Autochartist, much like City Index, it gains a unique advantage with research tools from Acuity Trading. Despite this, it still trails behind in ranks due to the absence of some advanced research features found in City Index. Ultimately, City Index offers a more comprehensive research package for traders seeking detailed insights and analysis, while ThinkMarkets, although offering some unique tools, may appeal to traders with different preferences.
| Feature |
City Index
|
ThinkMarkets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both City Index and ThinkMarkets provide a wealth of learning materials to kickstart your trading journey. Each platform offers a minimum of ten educational pieces focused on forex and CFDs, including articles, videos, and archived webinars. Both brokers also host online webinars every month to enhance learning, and they maintain comprehensive archives that allow users to revisit past sessions at their convenience. Beginner traders will find plenty of dedicated video content aimed directly at helping them understand the basics of trading.
While both brokers provide ample resources for both novice and experienced traders, City Index stands out in terms of educational ratings. It boasts advanced educational videos and an investor dictionary with a comprehensive list of over 50 investment terms. City Index is rated 4.5 stars for its education offerings and is ranked #9 out of 62 brokers by ForexBrokers.com in the Education category. In comparison, ThinkMarkets, while offering similar basic tools, is rated 3.5 stars and holds a rank of #52. For those prioritizing education in their trading experience, City Index offers a more highly rated and comprehensive educational platform.
| Feature |
City Index
|
ThinkMarkets
|
|---|---|---|
| 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 ThinkMarkets. City Index finished with an overall rank of #8, while ThinkMarkets finished with an overall rank of #27.
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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ThinkMarkets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 92 |
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Both City Index and ThinkMarkets do not provide options for purchasing actual delivered cryptocurrencies but do offer opportunities to trade cryptocurrency derivatives.
In the realm of online brokerage, City Index stands out by offering ACH or SEPA transfers and PayPal for deposits and withdrawals, alongside traditional options like Visa, Mastercard, and bank wires, whereas ThinkMarkets provides flexibility with Skrill and the conventional methods of Visa, Mastercard, and bank wires, but lacks ACH, SEPA, and PayPal support.
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 | ThinkMarkets | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | City Index Review |
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| Regulation | City Index | ThinkMarkets | |
|---|---|---|---|
| Trust Score | 99 | 92 | |
| 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 | 5 | |
| Tier-2 Licenses | 1 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | City Index | ThinkMarkets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| 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 | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | City Index | ThinkMarkets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 4000 | |
| Forex Pairs (Total) | 66 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 1.1 | |
| All-in Cost EUR/USD - Active | 0.74 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | ThinkMarkets | |
|---|---|---|---|
| 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 | ThinkMarkets | |
|---|---|---|---|
| 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 | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | ThinkMarkets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 15 | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| 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 | 94 | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | ThinkMarkets | |
|---|---|---|---|
| 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 | ThinkMarkets | |
|---|---|---|---|
| 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 | ThinkMarkets | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | City Index Review |
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