City Index vs Saxo Markets 2025
Which broker truly steals the spotlight in this review? As we take a deep dive into the comparison of City Index and Saxo Markets, it becomes evident that both possess standout features that traders can leverage, offering remarkable flexibility and user-friendliness. But which broker emerges as the stronger contender? Let’s explore this review further to uncover the winner.
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Our full comparison covers the 10 most important trading factors. Here are noticeable differences between City Index and Saxo Markets:
- City Index offers a lower minimum deposit of $150.
- City Index provides competitive spreads on its standard account.
- Saxo Markets requires a minimum deposit of $2000.
- Saxo Markets offers advanced trading platforms and comprehensive research tools, targeting experienced traders.
- Saxo Markets has stronger trust and regulation.
1. Lowest Spreads And Fees – City Index
Welcome. Let’s take a deep dive into our comprehensive review of City Index and Saxo Markets as we evaluate which brokerage excels in the world of forex trading.
First, let’s examine City Index, which provides competitive spreads on its standard account, allowing traders to significantly reduce their trading costs over time. In contrast, our second brokerage, Saxo Markets, features slightly wider spreads on its standard account.
Spreads
The most significant cost associated with a RAW account is the spread, which represents the difference between the highest bid and the lowest ask price for any forex pair.
| Standard Account | City Index Spreads | Saxo Markets Spreads | Industry Spreads |
|---|---|---|---|
| Overall Average | 1.3 | 1.7 | 1.6 |
| EUR/USD | 0.7 | 1.1 | 1.2 |
| USD/JPY | 0.6 | 2.2 | 1.4 |
| GBP/USD | 1.1 | 1.8 | 1.6 |
| AUD/USD | 2.2 | 1.1 | 1.5 |
| USD/CAD | 1.6 | 1.9 | 1.8 |
| EUR/GBP | 1.1 | 1.6 | 1.5 |
| EUR/JPY | 1.6 | 2 | 1.9 |
| AUD/JPY | 2.2 | 1.9 | 2.1 |
City Index: Across all forex pairs, City Index tends to have lower spreads compared to the industry average. For instance, the spread for EUR/USD is 0.7, significantly below the industry average of 1.2. This trend continues across most forex pairs, making City Index a cost-effective choice for traders prioritizing lower spreads.
Saxo Markets: In contrast, Saxo Markets generally offers higher spreads. For example, the spread for GBP/USD is 1.8, slightly above the industry average. However, for traders focusing on RAW accounts, Saxo Markets provides competitive spreads that can appeal to those looking for tight pricing.
When comparing spreads, City Index appears to offer a more budget-friendly option overall. However, other factors like customer service and platform usability must also be considered.
Commission Levels
Commission fees are an additional cost for traders, particularly those trading on RAW accounts.
This fee calculator shows how reduced spreads affect trading. Choose your base currency, trade amount, and pair to view the cost.
City Index: One of City Index’s key advantages is commission-free trading on forex and CFDs. This structure makes it a strong contender for traders seeking to minimize trading costs.
Saxo Markets: Saxo Markets charges commissions on certain instruments, making it a less attractive choice for traders who prioritize avoiding additional fees.
While Saxo Markets justifies its commissions with other features and services, City Index remains a favorable option for cost-conscious traders due to its commission-free model.
Standard Account Fees
- City Index: Does not charge a standard account fee for forex and CFDs. However, it imposes a $15 inactivity fee if no trades are made within a certain period.
- Saxo Markets: Offers a standard account spread of 1.1, slightly above City Index’s spreads. Notably, Saxo Markets does not charge an inactivity fee, which can benefit traders who take occasional breaks.
|
Standard Account Spreads
|
|||||
|---|---|---|---|---|---|
|
0.70 | 2.20 | 1.10 | 1.10 | 0.60 |
|
1.20 | 0.90 | 1.50 | 1.80 | 1.80 |
|
1.13 | 1.01 | 1.71 | 1.66 | 1.12 |
|
1.20 | 1.40 | 1.50 | 1.60 | 1.50 |
|
1.10 | 1.20 | 1.30 | 1.30 | 1.30 |
|
1.20 | 1.80 | 1.90 | 1.90 | 1.60 |
|
1.32 | 1.95 | 1.37 | 1.70 | 1.40 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2025
When comparing standard account fees, City Index has an edge due to its lower spreads and commission-free trading. However, traders should consider their specific trading habits, such as frequency of trades, to determine which broker aligns better with their needs.
Our Trading Fees Verdict
City Index secures the top spot thanks to their lowest spreads and fees.
City Index ReviewVisit City Index
*Your capital is at risk ‘70% of retail CFD accounts lose money’
2. Better Trading Platforms -Saxo Markets
When it comes to enhanced and user-friendly experiences, nothing beats a brokerage that offers superior trading platforms. These brokerages ensure they provide traders with advanced tools, featuring faster execution and reliable performance.
We can take a look at both City Index and Saxo Markets who offers a range of trading platforms to suit different trading styles and experience levels which are truly remarkable. If you want to know more about these trading platforms, check out our best MT5 brokers section.
| Trading Platform | City Index | Saxo Markets |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | No | No |
| cTrader | No | No |
| TradingView | Yes | Yes |
| Copy Trading | Yes | No |
| Proprietary Platform | Yes | Yes |
We have created a software questionnaire if you are unsure what platform best suits your trading style. Based on six simple questions, we can recommend the best trading software for your trading needs.
1. MetaTrader 4 and 5
Both brokers offer MetaTrader 4, the most popular trading platform in the forex industry. Saxo Markets also offers MetaTrader 5, a newer and more advanced version of the platform.
2. cTrader and TradingView
City Index offers cTrader, a platform known for its intuitive interface and advanced charting tools. Saxo Markets does not offer cTrader but does offer TradingView, a platform popular for its social trading features.
3. Social And Copy Trading
Saxo Markets offers social and copy trading through its TradingView platform, allowing traders to follow and copy the trades of successful traders. City Index does not offer social or copy trading.
4. VPS and Other Trading Tools
City Index offers VPS (Virtual Private Server) services for automated trading, while Saxo Markets offers a range of additional trading tools, including algorithmic trading and custom indicators.
Our Better Trading Platform Verdict
Saxo Markets outshines in this category due to its better trading platforms.
Saxo Markets ReviewVisit Saxo Markets
*Your capital is at risk ‘65% of retail CFD accounts lose money’
3. Superior Accounts And Features – Saxo Markets
A broker who offers a superior account is definitely the winner in this category. They ensure that traders have access to advanced tools, providing flexibility and better trading conditions.
We can speculate that both City Index and Saxo Markets offer a range of account types to suit different trading needs and styles. To know more about superior accounts and feature, check out our Best Brokers for Micro Trading section.
| City Index | Saxo Markets | |
|---|---|---|
| Standard Account | No | Yes |
| Raw Account | Yes | No |
| Swap Free Account | No | No |
| Active Traders | No | Yes |
| Spread Betting (UK) | Yes | No |
Our Superior Accounts and Features Verdict
Saxo Markets tops this category thanks to their superior accounts and features.
Saxo Markets ReviewVisit Saxo Markets
*Your capital is at risk ‘65% of retail CFD accounts lose money’
4. Best Trading Experience – Saxo Markets
User experience and ease of use are prime in the world of forex trading. Based from our studies of both City Index and Saxo Markets, these brokers’ platforms have their unique strengths. City Index is known for its diverse range of trading instruments and competitive spreads, which can be a boon for traders looking to diversify their portfolios. On the other hand, Saxo Markets stands out with its advanced trading platforms and comprehensive research tools, making it a go-to for traders who need in-depth market analysis.
- City Index offers a user-friendly platform suitable for both beginners and experienced traders.
- Saxo Markets provides an advanced trading platform with comprehensive research tools.
- Both brokers offer excellent customer service, ensuring traders have the support they need.
- From our own testing, we found that both brokers offer a seamless trading experience with intuitive interfaces.
We can simply guess that while both brokers offer a commendable trading experience, Saxo Markets slightly edges out with its advanced platform and research tools, making it the top choice for the best trading experience.
Our Best Trading Experience and Ease Verdict
Saxo Markets excels in this area in light of their better trading experience.
Saxo Markets ReviewVisit Saxo Markets
*Your capital is at risk ‘65% of retail CFD accounts lose money’
5. Stronger Trust And Regulation – Saxo Markets
As a trader, you can rely on brokers that prioritize strong trust and regulatory compliance. These brokers create a secure and transparent trading environment, enhancing trader confidence, attracting a broader client base, and cultivating lasting relationships.
Saxo Markets Trust Score
City Index Trust Score
We can clearly see here that both City Index and Saxo Markets are highly regulated brokers. City Index is regulated by the Financial Conduct Authority (FCA), while Saxo Markets is regulated by multiple regulatory bodies, including the FCA. This ensures a high level of trust and security for their clients.
| City Index | Saxo Markets | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) FCA (UK) MAS (Singapore) | ASIC (Australia) FCA (UK) MAS (Singapore) FINMA (Switzerland) |
| Tier 2 Regulation | SFC | |
| Tier 3 Regulation |
Our Stronger Trust and Regulation Verdict
Saxo Markets ranks highest due to having stronger trust and regulation.
Saxo Markets ReviewVisit Saxo Markets
*Your capital is at risk ‘65% of retail CFD accounts lose money’
6. CFD Product Range And Financial Markets – Saxo Markets
The extensive selection of CFD products and financial markets is an exceptional feature that empowers traders to take advantage of diverse market conditions and asset classes, significantly boosting their profit potential.
Based on our observation, both City Index and Saxo Markets are notable for their extensive range of CFDs, products, and markets. While both brokers offer a plethora of options for traders, there are subtle differences that can influence a trader’s decision.
| CFDs | City Index | Saxo Markets |
|---|---|---|
| Forex Pairs | 84 | 327 |
| Indices | 40+ | 29 |
| Commodities | 6 Metals 8 Energies 13 Softs | 5 Metals 7 Energies 8 Softs |
| Cryptocurrencies | 5+ | 9 |
| Shares | 4700+ | 9000+ |
| ETFs | 4 | 1200 |
| Bonds/Treasuries | 11 | 8 |
| Other Products(Options,Futures) | No | No |
Clearly, we can see here that Saxo Markets offers a more extensive range of CFDs and markets compared to City Index in terms of sheer numbers. However, traders should consider other factors like fees, platform usability, and customer support before making a final decision.
Our Top Product Range and CFD Markets Verdict
Saxo Markets leads this category in light of their CFD product range and financial markets.
Saxo Markets ReviewVisit Saxo Markets
*Your capital is at risk ‘65% of retail CFD accounts lose money’
7. Superior Educational Resources – City Index
Offering these features in the world of forex trading is the ultimate experience any trader can have. Brokers help traders understand market dynamics, develop effective strategies, and manage financial risks simultaneously.
Both City Index and Saxo Markets understand the importance of educating their traders. A well-informed trader is not only more likely to succeed but also more likely to remain loyal to the platform. Based on our in-depth analysis and testing, here’s how the two brokers compare in terms of educational resources:
- City Index offers comprehensive video tutorials covering a range of trading topics.
- Saxo Markets provides detailed webinars hosted by industry experts.
- City Index’s educational articles are well-structured and cater to both beginners and advanced traders.
- Saxo Markets boasts an extensive library of e-books and trading guides.
- Both brokers offer demo accounts, allowing traders to practice without risking real money.
- City Index and Saxo Markets provide daily market analysis, helping traders stay updated with the latest trends.
We can presume that City Index offers superior educational resources, making it the top choice for traders looking to expand their knowledge and skills.
Our Superior Educational Resources Verdict
City Index excels in this area of expertise owing to their superior educational resources.
City Index ReviewVisit City Index
*Your capital is at risk ‘70% of retail CFD accounts lose money’
8. Better Customer Service – A Tie
Truly, this is a vital part in the world of forex trading. Having these features builds trust and confidence and ensures traders can navigate the market effectively.
We can definitely see here that both City Index and Saxo Markets offer excellent customer service, with multiple channels of communication and support available 24/5.
| Feature | City Index | Saxo Markets |
|---|---|---|
| Live Chat Support | Yes | Yes |
| Email Support | Yes | Yes |
| Phone Support | Yes | Yes |
| Support Hours | 24/5 | 9/5 |
| Multilingual Support | Yes | Yes |
Our Superior Customer Service Verdict
It’s a draw for both Saxo Markets and City Index thanks to their better customer service.
City Index ReviewVisit City Index
*Your capital is at risk ‘70% of retail CFD accounts lose money’
9. More Funding Options – Saxo Markets
The availability of funding options is crucial for traders and investors as it influences their decision-making process. The ability to deposit and withdraw funds seamlessly can greatly elevate the trading experience. Both City Index and Saxo Markets have invested significantly in offering a diverse range of funding methods to their clients. While City Index tends to stick with more conventional options, Saxo Markets has embraced innovative methods to appeal to a wider range of users.
The table below provides a comprehensive comparison of the funding options available with both brokers. It’s evident that while both brokers offer a diverse range of options, there are some distinct differences in their features.
| Funding Option | City Index | Saxo Markets |
|---|---|---|
| Credit Card | Yes | Yes |
| Debit Card | Yes | Yes |
| Bank Transfer | Yes | Yes |
| PayPal | Yes | No |
| Skrill | No | No |
| Neteller | No | No |
| Crypto | Yes | Yes |
| Rapid Pay | No | No |
| POLi / bPay | Yes | Yes |
| Klarna | No | No |
Our Better Funding Options Verdict
Saxo Markets comes out on top here due to having more funding options.
Saxo Markets ReviewVisit Saxo Markets
*Your capital is at risk ‘65% of retail CFD accounts lose money’
10. Lower Minimum Deposit – City Index
The minimum deposit requirement is a crucial factor for many traders, especially those just starting out. It determines the initial investment needed to begin trading with a particular broker. City Index and Saxo Markets, both industry leaders, understand the importance of this factor and have set their minimum deposit requirements accordingly.
While some brokers demand hefty amounts to start, City Index and Saxo Markets have aimed to strike a balance, ensuring they cater to both novice traders and seasoned professionals. The table below showcases the minimum deposit amounts required by each broker:
| Broker | Account Type | Minimum Deposit |
|---|---|---|
| City Index | Standard | $150 |
| RAW FX | $150 | |
| Saxo Markets | Classic | $100 |
| Platinum | $300,000 | |
| VIP | $1,500,000 |
We can surmise here that Saxo Markets’ Classic account offers the lowest minimum deposit of $100 for traders looking to start with the least initial investment. However, City Index maintains a consistent and accessible deposit requirement across its account types.
Our Lower Minimum Deposit Verdict
City Index takes the crown in this category thanks to their lower minimum deposit.
City Index ReviewVisit City Index
*Your capital is at risk ‘70% of retail CFD accounts lose money’
So is Saxo Markets or City Index the Best Broker?
Saxo Markets deserves the top spot for their exceptional performance across the essential areas that traders prioritize, including trading platforms, product offerings, and funding alternatives. The table below encapsulates the key information that supports this conclusion:
| Categories | City Index | Saxo Markets |
|---|---|---|
| Lowest Spreads And Fees | Yes | No |
| Better Trading Platform | No | Yes |
| Superior Accounts And Features | No | Yes |
| Best Trading Experience And Ease | No | Yes |
| Stronger Trust And Regulation | No | Yes |
| Top Product Range And CFD Markets | No | Yes |
| Superior Educational Resources | Yes | No |
| Superior Customer Service | Yes | Yes |
| Better Funding Options | No | Yes |
| Lower Minimum Deposit | Yes | No |
City Index: Best For Beginner Traders
City Index is the ideal choice for beginner traders due to its lower minimum deposit requirement and superior educational resources.
Saxo Markets: Best For Experienced Traders
Saxo Markets stands out as the top choice for experienced traders, offering an advanced trading platform and a comprehensive range of products and markets.
FAQs Comparing City Index Vs Saxo Markets
Does Saxo Markets or City Index Have Lower Costs?
City Index generally offers lower costs compared to Saxo Markets. While both brokers have competitive pricing, City Index boasts tighter spreads on major currency pairs. For instance, the EUR/USD spread starts from as low as 0.5 pips. For a more detailed comparison on broker costs, you can check out this Lowest Commission Brokers.
Which Broker Is Better For MetaTrader 4?
Both City Index and Saxo Markets support MetaTrader 4, a popular trading platform among forex traders. However, City Index provides a more seamless integration with MT4, offering custom indicators and advanced charting tools. For traders specifically looking for the best MT4 experience, you might find this list of top MT4 brokers helpful.
Which Broker Offers Social Trading?
Saxo Markets offers social trading features, allowing traders to follow and copy the trades of professionals. City Index, on the other hand, focuses more on traditional trading platforms without integrated social trading. If you’re keen on exploring the world of social trading further, this comprehensive guide on the best social trading platforms might be of interest.
Does Either Broker Offer Spread Betting?
City Index offers spread betting, a popular form of derivative trading in the UK. Saxo Markets, on the other hand, does not provide this service. Spread betting allows traders to speculate on the price movement of financial instruments without owning the underlying asset. For those interested in exploring spread betting further, this guide on the best spread betting brokers provides comprehensive insights.
What Broker is Superior For Australian Forex Traders?
In my opinion, City Index is the superior choice for Australian forex traders. Both City Index and Saxo Markets are ASIC regulated, ensuring a high level of trust and security for traders. However, City Index has a strong presence in Australia and understands the unique needs of Aussie traders. While Saxo Markets is an international giant, City Index offers a more tailored experience for the Australian market. For a broader perspective, you can check out this list of Best Forex Brokers In Australia.
What Broker is Superior For UK Forex Traders?
Personally, I believe Saxo Markets stands out for UK forex traders. Both brokers are FCA-regulated, which is a testament to their commitment to transparency and security. Saxo Markets, with its global presence and robust platform, offers a comprehensive trading experience tailored to the UK market. City Index, although a strong contender, doesn’t match the depth of features provided by Saxo Markets. For those looking to dig deeper into the UK forex scene, this guide on the best UK forex brokers is a valuable resource.
Article Sources
No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page.
Other City Index vs Saxo Markets Broker Comparison
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