Written by ForexBrokers.com
In this head to head comparison of City Index vs XM Group, 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 City Index and XM Group, several factors highlight their differences in trust and regulation. Established in 1983, City Index boasts a strong presence, being publicly traded and holding 7 Tier-1 licenses. These licenses are considered highly trusted according to ForexBrokers.com's ratings, contributing to City Index's exceptional Trust Score of 99. In contrast, XM Group, established in 2009, holds 4 Tier-1 licenses, indicating a solid level of trust but not reaching the same apex as City Index. XM Group is not publicly traded, which may be a consideration for some, and it has a Trust Score of 88, classifying it as trusted but not at the highest level.
Both brokers have Tier-2 licenses, which still signifies a good level of trust. However, the differences in Trust Scores and licensing likely point to why City Index is often seen as a more secure broker option. Investors prioritizing maximum trust might lean towards City Index due to its higher number of top-tier licenses and its publicly traded status, ensuring a high level of regulatory scrutiny. Meanwhile, XM Group remains a solid, trusted choice, especially for those who value its services and resources introduced since its inception in 2009.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Year Founded | 1983 | 2009 |
| Publicly Traded (Listed) | Yes | |
| Bank | ||
| Tier-1 Licenses | 7 | 4 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
City Index offers competitive pricing for trading CFDs, forex, and spread-betting with costs in line with industry averages. Traders can choose between City Index's proprietary platforms or MetaTrader for optimal pricing. The Premium Trader account caters to active traders who deposit over £10,000, granting exclusive pricing and customer service perks. City Index provides an average spread of 0.74 pips on the EUR/USD, positioning itself well among its peers though trailing top-tier brokers like Tickmill and FP Markets. The broker also extends rebates for high-volume traders, with rebates starting at £4 per million for U.K-based traders and going up to £7.5 per million based on trading volume. In Australia, the rebates range from AUD $4.5 to AUD $14.5 per million.
In contrast, XM Group's commission and fees structure is less transparent, especially for its commission-based XM Zero account. The standard account spreads are notably higher, and unlike City Index, XM Group does not publish average spreads for its XM Zero account. This lack of clarity can make it challenging for potential traders to assess the full cost of trading with XM Group.
When it comes to ratings, City Index scores an impressive 4.5 out of 5 stars for its commissions and fees, ranking it 14th out of 63 brokers as reviewed by ForexBrokers.com. XM Group, on the other hand, earns 4 stars and is ranked 33rd in the same category. These ratings highlight City Index's strong appeal for traders seeking competitive pricing and a range of beneficial features.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Minimum Deposit | £100.00 | $5 |
| Average Spread EUR/USD - Standard | 1.4 | 1.6 |
| All-in Cost EUR/USD - Active | 0.74 | 0.8 |
| Active Trader or VIP Discounts | Yes | |
| ACH or SEPA Transfers | Yes | |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
City Index and XM Group both offer robust opportunities for forex trading, allowing clients to engage in this market through CFDs or spot contracts. City Index boasts a remarkable variety with 13,500 tradeable symbols, offering greater diversity compared to XM Group's 1,394 symbols. Specifically, in the forex sector, City Index outshines XM Group by providing 66 tradeable forex pairs, in contrast to XM Group’s 55 pairs. However, when it comes to purchasing actual shares on U.S. and international exchanges, XM Group provides this option, while City Index does not.
Both brokers support the trading of cryptocurrency derivatives rather than the cryptocurrencies themselves, catering to enthusiasts of this digital asset class. Copy trading is also available with both platforms, assisting traders in mimicking successful strategies from seasoned investors. City Index earns a top-tier rating of 5 stars for its range of investments, ranking 8th out of 63 brokers, which demonstrates its broad investment offerings. Meanwhile, XM Group follows closely with a 4.5-star rating, ranked 24th, showcasing its competitive yet slightly limited range compared to City Index.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 1394 |
| Forex Pairs (Total) | 66 | 55 |
| U.S. Stock Trading (Non CFD) | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | ||
| 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 XM Group both provide traders with simulated trading options via free virtual demo accounts, allowing users to practice and refine their strategies. City Index stands out by offering a proprietary trading platform alongside well-known software like MetaTrader 4 (MT4), while XM Group focuses on delivering an enhanced experience with both MT4 and MetaTrader 5 (MT5). Both brokers support modern trading with web-based platforms and offer Windows-based desktop downloads for more personalized setups. Copy trading is readily available through each broker, broadening access to various trading strategies.
When it comes to charting tools, City Index provides an impressive 239 drawing tools, compared to XM Group's 15, arming traders with greater flexibility in their technical analysis. Both brokers facilitate trades directly from stock charts, but City Index offers a broader range with 11 columns for watch lists, surpassing XM Group's 7. City Index's superior tools earn it a strong 4.5-star rating and a ranking of 11th out of 63 brokers on ForexBrokers.com for trading platforms and tools, while XM Group secures a solid 4-star rating and a position of 31st.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | 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 | |
| DupliTrade | ||
| ZuluTrade | ||
| 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.
City Index and XM Group both provide accessible mobile trading apps available on iPhone and Android devices, catering to traders who prefer to manage their accounts and trades while on the go. Both brokers deliver essential features such as stock and forex price alerts, the ability to draw trendlines on charts, and multiple time frame viewing options for detailed analysis. Additionally, watchlist symbol syncing ensures ease by keeping your data consistent across mobile and online platforms.
However, when it comes to charting capabilities, City Index leads with 88 technical studies compared to XM Group's 30. This could be a determining factor for traders who rely heavily on technical analysis. Furthermore, City Index's app allows for auto-saving of chart drawings and offers a more comprehensive experience with a higher customer rating of 4.5 stars out of 5, ranking it 9th among 63 brokers in the category. In contrast, XM Group's app holds a respectable 4-star rating, positioned at 29th. Both brokers allow users to create watchlists with real-time quotes, catering to dynamic trading needs. Overall, while both apps serve fundamental trading functions effectively, City Index's app seems to offer more advanced charting options and receives higher customer satisfaction.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both City Index and XM Group equip traders with daily market commentary and forex news from leading sources like Bloomberg and Reuters, ensuring their clients stay informed about market trends. These brokers also provide access to technical analysis tools from Trading Central, offering valuable insights through analytical reports. Moreover, both City Index and XM Group include a sentiment-based trading tool that reveals the ratio of long or short positions among investors, helping traders gauge market sentiment. They also maintain comprehensive economic calendars to update users on significant global financial events.
While both brokers excel in offering a suite of research tools for traders, XM Group slightly edges out City Index in overall research quality, boasting a perfect five-star rating compared to City Index's 4.5 stars. According to ForexBrokers.com, XM Group is ranked 8th out of 63 brokers in the Research category, while City Index holds the 10th position. These rankings reflect their strong commitment to delivering pertinent market data and tools tailored for effective trading decisions.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | ||
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | ||
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both City Index and XM Group are strong contenders for those looking to get started in the world of trading. City Index provides an extensive range of forex and CFDs education, featuring over ten educational pieces such as articles, videos, and webinars. They host monthly webinars and maintain a searchable archive for recorded sessions, allowing new traders to easily catch up on missed content. Additionally, City Index is committed to catering to beginners with at least ten dedicated videos covering essential trading topics. Steps have been taken to support more advanced traders, as well, with instructional materials tailored to experienced individuals. City Index also offers a comprehensive investor dictionary with over 50 industry terms to bolster foundational knowledge.
Similarly, XM Group presents a thorough educational experience for newcomers. They match City Index by offering more than ten educational pieces focused on forex and CFDs, alongside regular monthly webinars and an accessible archive of previous recordings. XM Group also provides ten beginner-friendly videos to aid new traders in understanding the complexities of trading. Advanced traders won't be left out, as XM's content caters to experienced individuals too. While both brokers offer excellent resources, XM Group slightly edges out City Index with a perfect 5-star rating for education and ranks higher on ForexBrokers.com, coming in at 7th out of 63 brokers, compared to City Index's 9th place. Despite the slight differences, both platforms demonstrate a strong commitment to educating new traders.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| 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 |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that City Index is better than XM Group. City Index finished with an overall rank of #8, while XM Group finished with an overall rank of #17.
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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XM Group
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 88 |
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While neither City Index nor XM Group offers the ability to purchase actual delivered cryptocurrency, both platforms provide opportunities to trade cryptocurrency derivatives.
In comparing the online brokers City Index and XM Group, City Index offers ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires as options to deposit or withdraw account funds, while XM Group provides Visa or Mastercard, Skrill, and bank wire options, but not ACH or SEPA transfers or PayPal.
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 | XM Group | |
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| Trust Score | 99 | 88 | |
| Winner | check_circle | ||
| Review | City Index Review | XM Group Review |
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| Regulation | City Index | XM Group | |
|---|---|---|---|
| Trust Score | 99 | 88 | |
| Year Founded | 1983 | 2009 | |
| Publicly Traded (Listed) | Yes | ||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 4 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | City Index | XM Group | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | Yes | ||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | ||
| USA (CFTC Authorized) | |||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | City Index | XM Group | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| Investments | City Index | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 1394 | |
| Forex Pairs (Total) | 66 | 55 | |
| U.S. Stock Trading (Non CFD) | Yes | ||
| Int'l Stock Trading (Non CFD) | Yes | ||
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | |||
| 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 | XM Group | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.74 | 0.8 | |
| Active Trader or VIP Discounts | Yes | ||
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | |||
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | XM Group | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $5 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes |
| Trading Platforms | City Index | XM Group | |
|---|---|---|---|
| Proprietary Platform | 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 | ||
| cTrader | |||
| DupliTrade | |||
| ZuluTrade |
| Trading Tools | City Index | XM Group | |
|---|---|---|---|
| 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 | XM Group | |
|---|---|---|---|
| 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 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | ||
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | XM Group | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | |||
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | |||
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | XM Group | |
|---|---|---|---|
| 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 |
| Major Forex Pairs | City Index | XM Group | |
|---|---|---|---|
| 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 | XM Group Review |
| Overall | City Index | XM Group | |
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| Trust Score | 99 | 88 | |
| Winner | check_circle | ||
| Review | City Index Review | XM Group Review |
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