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.
City Index, established in 1983, is a distinguished online broker that stands tall with a Trust Score of 99 out of 99 from ForexBrokers.com. As a publicly traded entity, City Index offers a great level of transparency and reliability. Although not a bank, it holds an impressive seven Tier-1 licenses, which are highly trusted, and one Tier-2 license. This multitude of licenses underscores its commitment to maintaining stringent regulatory standards.
On the other hand, XM Group was founded in 2009 and, while not publicly traded, establishes its strong presence with a Trust Score of 88. Like City Index, XM Group is not a banking institution but is still considered reliable. It holds four Tier-1 licenses, reflecting its dedication to high regulatory standards, and it also possesses one Tier-2 license. Despite having fewer Tier-1 licenses than City Index, XM Group is a respected name in the brokerage space, known for being a trusted choice among traders.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Year Founded | 1983 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| 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 CFDs, forex, and spread-betting products, with commissions aligning with industry norms. Traders can benefit from optimal rates by utilizing City Index’s proprietary platforms or MetaTrader. Though the average spread for EUR/USD is 0.74 pips, which is industry average, it falls short of top competitors like Tickmill. City Index rewards active traders through its Premium Trader account, offering exclusive perks for those depositing over £10,000, and provides rebate options ranging from £4 to £7.5 per million for UK-based traders, with similar incentives available in Australia. City Index holds a commendable 4.5-star rating and ranks 14th out of 62 for commissions and fees, reflecting strong customer satisfaction.
On the other hand, XM Group presents higher costs, with its standard account showcasing more expensive spreads. The company does not disclose the average spreads for their commission-based XM Zero account, which can make cost comparison challenging for potential users. Despite this lack of transparency, XM Group still earns a respectable 4-star rating. However, it ranks 33rd out of 62 brokers in the Commissions and Fees category, which positions it as a decent option, albeit less competitive than City Index in terms of overall cost efficiency.
| 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 | No |
| 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 XM Group both cater to investors seeking a variety of investment options, particularly in the forex market. City Index offers an impressive suite of 13,500 tradable symbols, including 66 forex pairs, while XM Group provides 1,394 tradable symbols with 55 forex pairs. Both brokers support forex trading as CFDs or spot contracts, providing flexibility for currency traders. Additionally, both platforms offer cryptocurrency derivatives, though neither allows for the purchase of actual cryptocurrencies. Notably, both brokers facilitate copy trading, an appealing feature for those who wish to emulate the strategies of more experienced traders.
When it comes to exchange-traded securities, XM Group sets itself apart by offering clients the opportunity to invest in U.S. and international stocks, such as Apple and Vodafone. In contrast, City Index does not provide access to shares on these exchanges. Despite this, City Index excels with a five-star rating in the Range of Investments category from ForexBrokers.com, ranking 8th out of 62 brokers. XM Group holds a solid 4.5-star rating and is ranked 23rd in the same category. This comparison highlights their unique positions in the brokerage landscape, underlining the broader range of instruments available through 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) | No | Yes |
| 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.
When comparing the trading platforms and tools offered by City Index and XM Group, both brokers provide a comprehensive suite of features that appeal to diverse trading preferences, including simulated accounts for those interested in paper trading. City Index stands out with its in-house developed proprietary platform, available across both desktop and web-based interfaces, providing a smooth trading experience. XM Group, while not offering a proprietary platform, provides the globally renowned MetaTrader 5 in addition to MetaTrader 4, whereas City Index only supports MetaTrader 4. Both brokers offer Windows-based platforms and allow trading directly from stock charts, ensuring flexibility for traders.
In terms of additional features, both City Index and XM Group offer copy trading to cater to those looking to mirror successful trades. However, City Index excels in its technical offerings, providing 239 drawing tools for charting compared to XM Group's 15, allowing for more detailed analysis. Additionally, City Index offers more comprehensive watch lists with 11 columns, versus XM Group's 7. These strengths contribute to City Index’s higher rating of 4.5 stars for trading platforms and tools, ranking it 10th out of 62 brokers, while XM Group garners a respectable 4 stars and ranks 30th. This makes City Index a robust choice for those prioritizing advanced technical tools and customizability in their trading experience.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| 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 | 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 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and XM Group both offer mobile trading apps for iPhone and Android users, ensuring easy access to trading on the go. Both platforms provide features like stock and forex price alerts, the ability to create real-time watchlists, and syncing watchlists between mobile and online accounts. This makes managing trades seamless across devices. Additionally, users can draw trendlines and view multiple time frames, such as daily, weekly, or intraday, on charts in both apps.
Where the two platforms differ is in the number of technical studies and the auto-saving of chart drawings. City Index offers 88 technical studies compared to XM Group's 30, providing more in-depth analysis tools for traders. Moreover, City Index's app automatically saves chart drawings, a feature lacking in XM Group's app. When it comes to ratings, City Index earns a score of 4.5 stars, positioning it at #9 in the ForexBrokers.com ranking for Mobile Trading Apps. In comparison, XM Group holds a 4-star rating, placing it at #27. Overall, City Index offers a slightly more advanced and user-friendly experience for mobile traders.
| 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 | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
City Index and XM Group both shine when it comes to offering daily market commentary and forex news from leading sources like Bloomberg and Reuters. Both brokers equip traders with useful tools from Trading Central, ensuring you have access to advanced technical analysis. They also provide sentiment-based trading tools to gauge the market mood effectively. However, neither City Index nor XM Group includes additional research resources from Autochartist, TipRanks, or Acuity Trading, which might be a consideration depending on the trader's needs. Both platforms also feature economic calendars to help you stay updated with global events affecting the markets.
When it comes to ratings, XM Group scores a perfect 5 stars for its research capabilities, ranking 8th out of 62 brokers on ForexBrokers.com, while City Index is just behind with 4.5 stars, securing the 10th position. These rankings indicate that while both brokers offer comprehensive research tools, XM Group holds a slight edge in terms of research capabilities, potentially appealing more to traders who prioritize in-depth market analysis.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| 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 considering the learning resources available to beginners, both City Index and XM Group deliver a wealth of educational material. Each platform provides more than 10 valuable pieces like articles, videos, and archived webinars, primarily focusing on forex and CFDs. Beginners can also benefit from regular monthly online educational webinars and access searchable archives of past sessions. Both City Index and XM Group ensure that newcomers and more advanced traders have plenty of video content to enhance their understanding of trading. City Index covers foundational topics with 10 beginner videos, while XM Group matches this effort with its own beginner-focused educational videos.
Despite these similarities, there are a few distinctions in their offerings. City Index boasts a comprehensive investor dictionary that defines over 50 investing terms, a feature XM Group doesn't currently provide. Ratings from ForexBrokers.com place City Index in the ninth position for education out of 62 brokers, with a solid 4.5-star rating. XM Group, however, ranks slightly higher at seventh place with a full 5-star rating. Overall, both brokers offer excellent educational support, but XM Group edges out slightly in user satisfaction and rankings, making it a slightly more favorable choice for education-minded beginners.
| 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 | No |
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 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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Both City Index and XM Group do not provide options to purchase actual delivered cryptocurrencies, but they each offer the ability to invest in cryptocurrency derivatives.
City Index and XM Group both support Visa and Mastercard along with bank wire transactions for depositing and withdrawing funds, but City Index distinguishes itself by offering PayPal and ACH or SEPA transfers, while XM Group exclusively provides Skrill support instead.
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 | No | |
| Bank | No | No | |
| 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 | 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 | No | |
| 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 | XM Group | |
|---|---|---|---|
| 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 | 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) | No | Yes | |
| 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 | 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 | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | XM Group | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $5 | |
| 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 | XM Group | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| 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 | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | XM Group | |
|---|---|---|---|
| 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 | 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 | No |
| 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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