As we review FOREX.com and City Index, we can verify that both brokers offer features and platforms that every trader needs. The choice will depend on the trader’s specific needs and preferences. As we provide the information, the decision is yours to make.
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Our full comparison dives into the 10 most crucial trading factors, but here are quick hits to get you started:
In this review, let’s look deeper into the details of how these two brokers fare. We see here that City Index has an average spread of 1.79 pips in terms of average spreads for standard accounts. This is slightly higher compared to FOREX.com’s average spread. Tight spreads are crucial as they reduce the cost of trading and potentially increase profits. Read more details on our unique research on Standard Account Spreads.
City Index offers lower spreads for most forex pairs. For instance, the EUR/USD spread is 0.7 for City Index compared to 1.2 for FOREX.com. This trend continues across most pairs, with City Index consistently offering lower or equal spreads compared to FOREX.com.
| Standard Account | City Index Spreads | FOREX.com Spreads | Industry Spreads |
|---|---|---|---|
| Overall Average | 1.3 | 1.45 | 1.6 |
| EUR/USD | 0.7 | 1.2 | 1.2 |
| USD/JPY | 0.6 | 1.1 | 1.4 |
| GBP/USD | 1.1 | 1.1 | 1.6 |
| AUD/USD | 2.2 | 1.7 | 1.5 |
| USD/CAD | 1.6 | 2 | 1.8 |
| EUR/GBP | 1.1 | 1.3 | 1.5 |
| EUR/JPY | 1.6 | 1.5 | 1.9 |
| AUD/JPY | 2.2 | 1.7 | 2.1 |
Standard Account Analysis Updated January 2025[1]January 2025 Published And Tested Data
However, it’s important to consider these numbers in the context of the industry average. When we do this, we see that both brokers offer competitive spreads. In fact, both brokers offer spreads that are generally below the industry average. This means that traders could potentially save on trading costs by choosing either of these brokers.
In our findings, City Index appears to be the cheaper option for most forex pairs in contrast to FOREX.com’s competitive spreads. But then again, it’s always important to consider other factors such as trading platform, customer service, and additional fees when choosing a broker.
To explain how lower spreads change trading costs, we designed a fee calculator. Pick your currency, trade amount, and pair to see the fee.
Deposit & Withdrawal Fees
Both City Index and FOREX.com offer multiple deposit and withdrawal options. However, it’s essential to check if there are any associated fees, as these can add to your overall trading costs.
Other Fees
Other potential costs to consider include inactivity fees, overnight financing charges, and currency conversion fees. It’s always a good idea to read the broker’s terms and conditions to understand all the potential costs involved.
Verdict
FOREX.com takes the lead in this category because of their lowest spreads and fees,Your capital is at risk ‘77.7% of retail CFD accounts lose money with FOREX.com’
City Index and FOREX.com offer a range of trading platforms to cater to different types of traders.
| Trading Platform | City Index | FOREX.com |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | No | Yes |
| cTrader | No | No |
| TradingView | Yes | Yes |
| Copy Trading | Yes | Yes |
| Proprietary Platform | Yes | Yes |
MetaTrader 4 and 5
Both brokers offer MetaTrader 4, the most popular forex trading platform in the world. FOREX.com also provides MetaTrader 5, the latest version of the platform with additional features.
cTrader and TradingView
While neither City Index and FOREX.com offers cTrader, FOREX.com, on the other hand, offers TradingView, these feature provide proprietary platforms with advanced charting and analysis tools.
Social And Copy Trading
In addition, both brokers neither offers social or copy trading services, but they both provide a range of educational resources and market analysis tools to help traders make informed decisions.
VPS and Other Trading Tools
We can see here that both brokers offer VPS services for traders who use automated trading strategies. They also provide various trading tools such as economic calendars, market news updates, and technical analysis tools.
Therefore, it is safe to say that both brokers offer robust trading platforms, but FOREX.com has a slight edge due to its offering of MetaTrader 5.
Verdict:
FOREX.com outperforms here due to better trading platform.FOREX.com ReviewVisit FOREX.com
Your capital is at risk ‘77.7% of retail CFD accounts lose money with FOREX.com’
Evidently, both brokers offer a variety of account types. And we can see here that City Index offers a range of account types including a standard account, a professional account, and a demo account. FOREX.com, on the other hand, offers standard, commission, and DMA accounts, as well as a demo account.
| City Index | FOREX.com | |
|---|---|---|
| Standard Account | No | Yes |
| Raw Account | Yes | Yes |
| Swap Free Account | No | Yes |
| Active Traders | No | Yes |
| Spread Betting (UK) | Yes | No |
Keep in mind that these feature is essential for brokers as they attract a diverse, wide range of traders, a newbie or seasoned, as it provides flexibility, as well as advanced tools, which in return fosters better trading condition.
Verdict:
FOREX.com definitely shines here on account of superior accounts and features.
FOREX.com ReviewVisit FOREX.com
Your capital is at risk ‘77.7% of retail CFD accounts lose money with FOREX.com’
We can simply speculate that City Index and FOREX.com both have their merits when it comes to trading experience. City Index offers a more intuitive interface, making it easier for traders to navigate. The platform is designed with user experience in mind, which is a big plus for those who are new to trading.
FOREX.com, on the other hand, offers a broader range of technical indicators. This is particularly useful for traders who rely heavily on technical analysis. The platform also supports automated trading strategies.
Clearly, both brokers offer solid trading experiences, City Index stands out for its user-friendly interface and quicker execution speeds, making it the better choice for traders who value ease of use and efficiency.
Verdict:
City Index stands out for their best trading experience.City Index ReviewVisit City Index
Your capital is at risk ‘69% of retail CFD accounts lose money with City Index’
FOREX.com Trust Score
City Index Trust Score
Trust and regulation are paramount in the world of online trading. This ensures secure and transparent trading environment. Without a doubt, both City Index and FOREX.com are regulated by top-tier regulators, ensuring a high level of investor protection.
City Index is regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK. On the other hand, FOREX.com is regulated by the FCA, the Cyprus Securities Exchange Commission (CySEC), and the Commodity Futures Trading Commission (CFTC) in the US.
| City Index | FOREX.com | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) FCA (UK) MAS (Singapore) | FCA (UK) CIRO (CANADA) NFA/CFTC (USA) CYSEC (Cyprus) |
| Tier 2 Regulation | JFSA (Japan) | |
| Tier 3 Regulation | CIMA (Cayman) |
Verdict:
FOREX.com excels in this field due to having stronger trust and regulation.FOREX.com ReviewVisit FOREX.com
Your capital is at risk ‘77.7% of retail CFD accounts lose money with FOREX.com’
In conjecture, City Index and FOREX.com both offer a wide range of CFDs and markets, but there are some differences worth noting.
Note: Having a diverse and vast range of CFD product range and access to various financial markets gives leverage to traders to diversify their portfolio and effectively manage risks.
| CFDs | City Index | FOREX.com |
|---|---|---|
| Forex Pairs | 84 | 91 |
| Indices | 40+ | 17 |
| Commodities | 6 Metals 8 Energies 13 Softs | 2 Metals (6 Gold crosses (2 Silver crosses) 2 Energies 2 Softs |
| Cryptocurrencies | 5+ | 8 |
| Shares | 4700+ | 220 |
| ETFs | 4 | No |
| Bonds/Treasuries | 11 | No |
| Other Products(Options,Futures) | No | No |
Clearly, we can see here that City Index offers a more diversified range of CFDs and Markets, making it a better choice for traders looking for variety in their trading portfolio.
Verdict:
City Index dominates this category in light of their diverse CFD product range and financial markets.City Index ReviewVisit City Index
Your capital is at risk ‘69% of retail CFD accounts lose money with City Index’
Unquestionably. bot City Index and FOREX.com offer educational resources, but the quality and range differ.
In forex trading, it is important for brokers to share valuable information through their educational resources. This way, you, as a broker, equip traders with the knowledge and skills needed to make informed decisions. This action lets traders avoid risks, while developing effective strategies.
Based on our scores and the variety of resources available, FOREX.com offers a more comprehensive educational package, making it the go-to choice for traders keen on learning and improving their skills.
Verdict:
FOREX.com very well outperforms here in light of having superior educational resources.FOREX.com ReviewVisit FOREX.com
Your capital is at risk ‘77.7% of retail CFD accounts lose money with FOREX.com’
Customer service is a crucial aspect of any broker as it helps traders resolve technical issues, and provide guidance, education and support.
We can see here that City Index offers 24/5 customer support, while FOREX.com extends it to weekends.
| Feature | City Index | FOREX.com |
|---|---|---|
| Live Chat Support | Yes | Yes |
| Email Support | Yes | Yes |
| Phone Support | Yes | Yes |
| Support Hours | 24/5 | 24/5 |
| Multilingual Support | Yes | Yes |
Based on our scores and the availability of weekend support.[/highlight]
Verdict:
FOREX.com takes the lead in having better customer service.FOREX.com ReviewVisit FOREX.com
Your capital is at risk ‘77.7% of retail CFD accounts lose money with FOREX.com’
It is definitely clear that both brokers offer a variety of funding options, but FOREX.com has a slight edge with more choices.
Remember that having better, and more feature in funding options is important as it allows traders to choose the most suitable method for their trading needs due to flexibility and convenience.
| Funding Option | City Index | FOREX.com |
|---|---|---|
| Credit Card | Yes | Yes |
| Debit Card | Yes | Yes |
| Bank Transfer | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
We can simply assume that FOREX.com offers a broader range of funding options, making it more convenient for traders who prefer varied methods for depositing and withdrawing funds.
Verdict:
FOREX.com takes home the accolade due to having more funding options.FOREX.com ReviewVisit FOREX.com
Your capital is at risk ‘77.7% of retail CFD accounts lose money with FOREX.com’
We see here that City Index requires a minimum deposit of $100, while FOREX.com has a $50 minimum deposit requirement.
Forex trading will be more accessible for traders, beginners or seasoned, for brokers offering manageable minimum deposit as it allows traders to trade and invest in smaller financial values, thus reducing financial risks.
| Broker | Minimum Deposit |
|---|---|
| City Index | $100 |
| FOREX.com | $50 |
Based on our studies, FOREX.com offers a lower minimum deposit, making it more accessible for new traders who are cautious about committing large sums of money upfront.
Verdict:
FOREX.com secures first place on account of their lower minimum deposit.FOREX.com ReviewVisit FOREX.com
Your capital is at risk ‘77.7% of retail CFD accounts lose money with FOREX.com’
FOREX.com outperforms here because the broker appears to have slightly lower trading costs, which makes them lead in this category. The table below summarises the key information leading to this verdict.
| Categories | City Index | FOREX.com |
|---|---|---|
| Lowest Spreads And Fees | No | Yes |
| Better Trading Platform | No | Yes |
| Superior Accounts And Features | No | Yes |
| Best Trading Experience And Ease | Yes | No |
| Stronger Trust And Regulation | No | Yes |
| Top Product Range And CFD Markets | Yes | No |
| Superior Educational Resources | No | Yes |
| Superior Customer Service | No | Yes |
| Better Funding Options | No | Yes |
| Lower Minimum Deposit | No | Yes |
City Index, on the other hand, is better suited for beginner traders due to its user-friendly interface and lower minimum deposit.
FOREX.com is the go-to for experienced traders, thanks to its advanced charting tools and comprehensive educational resources.
City Index has lower costs, especially when it comes to spreads. For example, the EUR/USD spread is 0.7 for City Index compared to 1.2 for FOREX.com. For more on low-cost brokers, check out our lowest spread forex brokers in the UK.
Neither City Index nor FOREX.com are the top choices for MetaTrader 4. If MT4 is your priority, consider looking at our best MT4 brokers.
Neither City Index nor FOREX.com offer social or copy trading. If social trading is your thing, you might want to explore our best copy trading platforms in the UK.
City Index offers spread betting, while FOREX.com does not. For more on this, you can visit our best spread betting brokers in the UK.
In my opinion, neither City Index nor FOREX.com are the top choices for Australian traders. Both are ASIC regulated but founded overseas. For more options, check out our Best Forex Brokers In Australia.
In my opinion, City Index is superior for UK traders. It’s FCA regulated and offers a more comprehensive trading experience. For more UK-specific info, visit our Best Forex Brokers In UK.
No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page.
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