On this page we compare Forex Brokers City Index and Saxo Markets. We’ve analysed key trading factors like costs, platforms, execution speed to help you find the right broker to trade with.
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City Index and Saxo Markets are both reputable forex brokers, but they cater to different types of traders. City Index is known for its diverse range of trading instruments and competitive spreads, making it an excellent choice for traders looking to diversify their trading portfolio. On the other hand, Saxo Markets stands out with its advanced trading platforms and comprehensive research tools, appealing to experienced traders who need in-depth market analysis.
When it comes to trading costs, both brokers have their advantages.
City Index offers competitive spreads on its standard account, which can help traders save on trading costs in the long run. Saxo Markets, on the other hand, offers slightly wider spreads on its standard account.
When it comes to standard account spreads, it’s clear that there are some significant differences between City Index and Saxo Markets Comparison. Let’s take a closer look at the data:
So, which broker is cheaper? Based on the data, it would seem that City Index generally offers lower spreads, making it the cheaper option. However, it’s important to note that spreads are just one factor to consider when choosing a broker. Other factors, such as customer service, platform usability, and additional features, should also be taken into account.
| Forex Pair | City Index | Saxo Markets Comparison | Industry Average |
|---|---|---|---|
| EUR/USD | 0.7 | 1.2 | 1.18 |
| USD/JPY | 0.6 | 1.8 | 1.37 |
| GBP/USD | 1.1 | 1.8 | 1.51 |
| AUD/USD | 2.2 | 0.9 | 1.41 |
| USD/CAD | 1.6 | 1.7 | 1.70 |
| EUR/GBP | 1.1 | 1.5 | 1.56 |
| EUR/JPY | 1.6 | 2.2 | 1.85 |
| AUD/JPY | 2.2 | 1.8 | 2.09 |
Standard Account Analysis Updated September 2023[1]September 2023 Published And Tested Data
Compared to the industry average, both brokers have their strengths and weaknesses. City Index tends to be below the average, making it a cost-effective choice. Saxo Markets Comparison, while often above the average, may justify its higher spreads with other features or services. As always, it’s crucial to do your research and choose the broker that best fits your trading needs and preferences.
For traders who prefer trading on raw spreads, Saxo Markets offers a competitive edge with its lower spreads on the RAW account.
City Index offers commission-free trading on forex and CFDs, while Saxo Markets charges a commission on certain instruments.
Both brokers do not charge any fees for deposits and withdrawals, which is a plus point for traders.
City Index charges an inactivity fee if you do not make any trades for a certain period, while Saxo Markets does not charge an inactivity fee.
Verdict: When it comes to trading costs, City Index seems to have a slight edge due to its lower spreads and commission-free trading. However, the best broker for you will depend on your trading style and the instruments you trade.
| Criteria | City Index | Saxo Markets |
|---|---|---|
| Standard Account Spreads | Lower | Higher |
| RAW Account Spreads | Higher | Lower |
| Commission Rates | No | Yes |
| Deposit & Withdrawal Fees | No | No |
| Other Fees | Yes (Inactivity Fee) | No |
City Index ReviewVisit City Index
*Your capital is at risk ‘71% of retail CFD accounts lose money’
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.
Verdict: Both brokers are trustworthy and secure, but Saxo Markets has a slight edge due to its multiple regulations.
| Broker | Regulators |
|---|---|
| City Index | FCA |
| Saxo Markets | FCA, and others |
Both City Index and Saxo Markets offer a range of trading platforms to suit different trading styles and experience levels. For more information, check out our best MetaTrader 5 forex brokers section.
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.
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.
| Criteria | City Index | Saxo Markets |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | No | No |
| cTrader | No | No |
| TradingView | Yes | Yes |
| Other Platforms | City Index WebTrader | SaxoTraderGo SaxoTraderPro |
| VPS Services | Yes | Yes |
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.
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.
| Broker | Limit Order Speed | Market Order Speed |
|---|---|---|
| City Index | 117 ms | 144 ms |
| Saxo Markets | N/A | N/A |
Verdict: Saxo Markets wins this category due to its wider range of trading platforms and tools.
City Index and Saxo Markets offer a range of account types to suit different trading needs and styles. For more information, check out our forex brokers with micro accounts section.
Verdict: Both brokers offer a good range of account types, but Saxo Markets has a slight edge due to its wider range of account options.
Both City Index and Saxo Markets offer excellent customer service, with multiple channels of communication and support available 24/5.
Verdict: It’s a tie in this category. Both brokers offer excellent customer service.
City Index ReviewVisit City Index
*Your capital is at risk ‘71% of retail CFD accounts lose money’
There are other factors to consider when choosing a broker. For more details, check out our forex brokers with zero pip accounts section.
City Index has a lower minimum deposit requirement compared to Saxo Markets, making it more accessible for beginners or those with a smaller trading budget.
Both brokers offer a range of payment methods, including bank transfer, credit card, and e-wallet options.
Other factors to consider include the range of trading instruments available, the quality of the trading platform, and the broker’s reputation in the industry.
Verdict: City Index wins this category due to its lower minimum deposit requirement and wide range of trading instruments.
| Criteria | City Index | Saxo Markets |
|---|---|---|
| Forex CFD | 84 | 7 CFDs, 190 Spot, 130 Forwards |
| Shares CFD | 4500+ | 9000+ |
| Cryptos CFD | 25+ | 9 |
| Commodities CFD | 4 Metals 8 Energies 18 Softs |
5 Metals 7 Energies 8 Softs |
| Indices CFD | 20 | 29 |
| Bonds/Treasuries CFD | 11 | 8 |
| Spread Betting (UK only) | Yes | No |
| Other Products | No | No |
| Shares (underlying) | No | No |
City Index ReviewVisit City Index
*Your capital is at risk ‘71% of retail CFD accounts lose money’
Best For Beginner Traders: City Index is our top pick for beginner traders due to its user-friendly platform, lower minimum deposit requirement, and excellent customer service.
Best For Experienced Traders: Saxo Markets is our top pick for experienced traders due to its advanced trading platform, comprehensive research tools, and competitive pricing.
Here’s a comparison table of the two brokers:
| Criteria | City Index | Saxo Markets |
|---|---|---|
| Trading Costs | 4.5 | 4.7 |
| Trust and Regulation | 4.8 | 4.8 |
| Trading Platforms | 4.6 | 4.9 |
| Execution Speed | 4.7 | 4.7 |
| Account Types | 4.6 | 4.8 |
| Customer Service | 4.8 | 4.8 |
| Other Trading Factors | 4.7 | 4.6 |
| Overall Score | 4.7 | 4.8 |
City Index is our top pick for beginner traders due to its user-friendly platform and lower minimum deposit requirement.
Saxo Markets offers an advanced trading platform with comprehensive research tools, making it our top pick for the best trading platform.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
