eToro vs City Index: Which Broker is Better?
Explore the comprehensive comparison between eToro and City Index. Uncover the key differences in trust, trading platforms, fees, and more to make an informed decision that suits your trading style.
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Our full comparison discusses the factors that distinguish the two brokers – eToro and City Index. eToro focuses on social trading with variable spreads and no commission, while City Index is a market maker with STP or DMA features.
City Index offers MetaTrader 4 and TradingView platforms, unlike eToro, which relies on its proprietary platforms. Some payment methods have no minimum deposit requirement for City Index, while eToro has a $50-$200 requirement across regions.
1. City Index: Lowest Spreads And Fees
We’ve compared the published average Standard Account spreads of eToro and City Index. eToro offers an average spread of 1.50 pips for the top 5 most traded forex pairs, while City Index offers a slightly lower average spread of 1.24 pips. Both brokers have competitive spreads against the industry average of 1.6 pips for the top 5 most traded forex pairs. Our chief of technology research, Ross Collins, tested standard accounts, and City Index actually had an average spread of 1.79 pips for the major currency pairs, wider than its published spreads.
Here’s a table showing the spread for each forex pair and the industry average:
| Forex Pair | eToro Spread | City Index Spread | Industry Average |
|---|---|---|---|
| Overall Average | 1.50 | 1.24 | 1.6 |
| EUR/USD | 1 | 0.70 | 1.24 |
| USD/JPY | 1 | 0.6 | 1.44 |
| GBP/USD | 2 | 1.1 | 1.57 |
| AUD/USD | 1 | 2.2 | 1.54 |
| USD/CAD | 1.5 | 1.6 | 1.82 |
Regarding standard account spreads, City Index has a slight edge over eToro. The difference is minimal, but for traders who focus on the most traded pairs, City Index offers a more competitive spread.[1]April 2025 Published And Tested Data
Use the fee calculator below to compare City Index’s and eToro’s trading costs. You can compare broker rates for different markets by adjusting currency pairs, lot sizes, and base currency.
Other Fees To Consider
Both brokers charge inactivity fees, with eToro charging $10 per month after 12 months of inactivity and City Index charging $15 monthly after 2 years of inactivity. City Index charges higher inactivity fees but allows an extra year of inactivity before fees. The fees for converting currency are similar but may vary slightly depending on the currency pair.
The other fees are quite similar between the two brokers, with no significant differences to sway the decision one way or the other.
Verdict
After conducting a comprehensive analysis of fees, City Index emerged as the broker with the lowest fees overall. City Index provides a more cost-effective trading experience with slightly more competitive Standard account spreads, industry-beating RAW spreads, and competitive commission rates.
City Index ReviewVisit City Index
Your capital is at risk ‘70% of retail CFD accounts lose money with City Index’
2. Tie: Better Trading Platforms
City Index has MetaTrader 4, TradingView and City Index WebTrader, while eToro only offers its proprietary platform. Both brokers have developed their own platforms, with eToro focusing on social trading features and City Index offering advanced trading tools, including SMART signals and Performance analytics.
| Trading Platform | eToro | City Index |
|---|---|---|
| MetaTrader 4 | No | Yes |
| MetaTrader 5 | No | No |
| cTrader | No | No |
| TradingView | No | Yes |
| Copy Trading | Yes | Yes |
| Proprietary Platform | Yes | Yes |
MetaTrader 4 and MetaTrader 5
eToro does not offer MetaTrader 4 or MetaTrader 5, focusing on its proprietary platform. On the other hand, City Index offers MetaTrader 4 but not MetaTrader 5, although MT4 is still one of the most popular forex trading platforms on the market.
cTrader and TradingView
Neither eToro nor City Index offers cTrader, but City Index does offer TradingView, while eToro doesn’t.
Social Trading And Copy Trading
eToro is renowned for its social trading features, allowing traders to follow and copy the trades of experienced traders. City Index only offers social/copy trading in the form of MetaTrader Signals, instead focusing more on traditional trading tools (which it has plenty of).
VPS and Other Trading Tools
City Index offers VPS services and other advanced trading tools, while eToro does not provide VPS but has a range of unique tools tailored to social trading.
Verdict
In terms of trading platforms, eToro stands out for its innovative social trading features, while City Index offers more traditional platforms, including MetaTrader 4 and TradingView. Which broker has better trading platforms depends on your trading style and experience.
3. Tie: Superior Accounts And Features
eToro only offers a standard account, while City Index provides a standard account, an MT4 account, a RAW FX account (Australia-only) and a DMA account (Singapore-only). Only eToro has a swap-free account.
| eToro | City Index | |
|---|---|---|
| Standard Account | Yes | No |
| Raw Account | No | Yes |
| Swap Free Account | Yes | No |
| Active Traders | No | No |
| Spread Betting (UK) | No | Yes |
Islamic Account
Open trades will be automatically rolled over in the currency market if they are not closed by 5:00 pm New York time. This can pose a problem for those following Sharia law because of the potentially usurious interest charged for the rollover. With eToro’s Islamic account, they ensure that the contract is free from any form of Riba throughout its duration.
Verdict
It’s a tie between the two brokers. While only eToro has an Islamic account, City Index also has its edge with its raw account.
4. City Index: Best Trading Experience
City Index ranks 6th in our fastest broker overall with its fairly competitive execution speed being a market maker with STP features. eToro, also a market maker, shines in its social trading quality.
Having tested both platforms extensively, we’ve found that eToro’s user-friendly interface particularly appeals to beginners and those who value a community feel in their trading journey. The platform’s design is intuitive, making navigation and executing trades straightforward, even for those new to the trading world.
On the other hand, City Index provides a more conventional trading atmosphere. It is designed for experienced traders who value detailed charting and a wide range of analytical tools. Their platform offers SMART signals and Performance Analytics for comprehensive market analysis.
Key takeaways:
- eToro’s platform is highly intuitive and great for beginners.
- City Index provides advanced tools and analytics for a more detailed trading approach.
- eToro’s social trading features are unmatched and ideal for learning from peers.
- City Index offers MetaTrader 4, which many experienced traders prefer for its customisability and advanced features.
Execution Speeds
When comparing execution speeds of the top 20 brokers using MT4 for limit and market orders, City Index was quite competitive, ranking as our 6th fastest broker overall. Since eToro doesn’t offer MT4, we could not test like-for-like execution speeds with City Index.
Verdict
City Index provides a comprehensive trading environment, while eToro excels in social trading features and user-friendly platform.
City Index ReviewVisit City Index
Your capital is at risk ‘70% of retail CFD accounts lose money with City Index’
5. eToro: Stronger Trust And Regulation
eToro has a trust score of 81, whereas City Index has a score of 67. These scores were evaluated according to the brokers’ regulations, reputation, and reviews.
eToro Trust Score
City Index Trust Score
Regulation
eToro and City Index are regulated by some of the most respected authorities in the financial industry. While eToro has broader regulatory coverage, City Index’s association with GAIN Capital adds to its credibility.
| eToro | City Index | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) CYSEC (Cyprus) FCA (UK) | ASIC (Australia) FCA (UK) MAS (Singapore) |
| Tier 2 Regulation | MFSA (Europe) ADGM (UAE) GFSC (Gilbraltar) | |
| Tier 3 Regulation | FSA-S (Seychelles) |
eToro is regulated by several top-tier authorities, including the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC) in Europe, and the Australian Securities and Investments Commission (ASIC) in Australia.
City Index, a part of the GAIN Capital group, is also regulated by the Financial Conduct Authority (FCA) in the United Kingdom, the Monetary Authority of Singapore (MAS), and the Australian Securities and Investments Commission (ASIC).
Reputation
In 2007, eToro was founded in Tel Aviv, Israel. City Index was established in London, UK, in 1983, making it a well-established company with a long history of experience.
Despite City Index’s age, they only get searched on Google around 12,100 times a month. eToro, on the other hand, is fairly popular, with 1,000,000 hits on Google monthly.
Reviews
eToro has received excellent reviews on TrustPilot, scoring 4.4/5.0 from 21,585 reviews. City Index is also well favoured among traders, scoring 4.3 out of 5.0 from 284 reviews.
Verdict
Trustwise, even though eToro is more regulated, both brokers are on par, with strong regulatory frameworks ensuring the safety and security of traders’ funds.
6. City Index: CFD Product Range And Financial Markets
eToro has over 5000 tradeable assets, while City Index offers CFD & forex trading on over 13,500 global financial markets.
eToro prides itself on a broad selection of CFD markets, including cryptocurrencies, particularly with ETFs with 300, while City Index only has 4.
With its long-standing reputation, City Index offers an extensive range of CFD products, especially in Forex trading and bonds, where eToro has fewer or none at all.
| CFDs | eToro | City Index |
|---|---|---|
| Forex Pairs | 49 | 84 |
| Indices | 20 | 40+ |
| Commodities | 26 | 6 Metals 8 Energies 13 Softs |
| Cryptocurrencies | 79 Coins, 14 crosses | 5+ |
| Shares | 1209 NYSE 884 NASDAQ 117 FrankFurt 285 LSE 42 Madrid 49 Zurich 26 Oslo 49 Stockholm 23 Copenhagen 20 Helsingki 135 Hong Kong 3 Lisbon 15 Brussels 1 Saudi Arabia 35 Amsterdam | 4700+ |
| ETFs | 300 | 4 |
| Bonds/Treasuries | No | 11 |
| Other Products(Options,Futures) | No | No |
Verdict
City Index offers a more extensive range of CFDs and markets, making it the preferred choice for traders looking for variety and depth in their trading portfolio.
City Index ReviewVisit City Index
Your capital is at risk ‘70% of retail CFD accounts lose money with City Index’
7. Tie: Superior Educational Resources
eToro and City Index offer different educational tools tailored for various learning styles and expertise levels. eToro’s approach is better suited for individuals who prefer a community-based learning environment and social trading education. City Index, on the other hand, seems to cater to traders who prefer self-study, with a more traditional educational approach and a variety of resources.
Here’s how they compare in terms of educational offerings:
- eToro offers a collaborative learning environment through live webinars and interactive courses.
- City Index offers a comprehensive range of written articles and guides, which are great for self-paced learning.
- eToro has created educational videos and podcasts that are easy to understand and can help you grasp complex concepts with ease.
- City Index offers a wide range of webinars and online seminars that go into various trading topics with great detail.
- eToro’s trading academy provides comprehensive resources for novice traders.
- Traders can benefit from City Index’s comprehensive glossary and eBooks, providing detailed explanations of trading terms and strategies.
City Index has a score of 5.5 out of 10, while eToro also has a score of 5.5 out of 10 in terms of educational resources.
Verdict
Both brokers provide excellent educational resources, but the best choice depends on your learning style preference. eToro and City Index tie for the best educational resources, each excelling in different areas of trader education.
8. City Index: Better Customer Service
Both eToro and City Index have customer service available 24/5 via live chat, phone support, and email.
| Feature | eToro | City Index |
|---|---|---|
| Live Chat Support | Yes | Yes |
| Email Support | Yes | Yes |
| Phone Support | Yes | Yes |
| Support Hours | 24/5 | 24/5 |
| Multilingual Support | Yes | Yes |
This table doesn’t tell the full story, though. eToro’s live chat is only available to current clients, while City Index offers both human and bot live chat interactions.
Verdict
eToro’s website navigation is lacklustre and its FAQ section is average; in contrast, City Index excels in both areas. This is why we scored City Index an excellent 9/10 while we could only give eToro a 5/10 for customer service.
City Index ReviewVisit City Index
Your capital is at risk ‘70% of retail CFD accounts lose money with City Index’
9. eToro: Better Funding Options
While offering a solid range of traditional payment methods, City Index doesn’t match eToro’s range. They provide all the standard options a trader might expect, ensuring secure and reliable transactions. However, for those looking for a more diverse range of funding avenues, City Index may fall short.
eToro shines with its array of payment methods, catering to a global audience with options beyond the conventional. Their platform allows for using multiple e-wallets and even cryptocurrencies, reflecting their modern approach to trading.
| Funding Option | eToro | City Index |
|---|---|---|
| Credit Card | Yes | Yes |
| Debit Card | Yes | Yes |
| Bank Transfer | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | No |
| Neteller | Yes | No |
| Crypto | Yes | Yes |
| Rapid Pay | Yes | No |
| POLi / bPay | Yes | Yes |
| Klarna | Yes | No |
Base Currencies
eToro offers accounts in USD, EUR, and GBP, while City Index offers accounts in multiple currencies, including USD, EUR, GBP, AUD, and SGD.
Deposit & Withdrawal Fees
While eToro charges no deposit fees, City Index also follows suit, providing free deposits across all methods. For withdrawals, eToro charges a flat fee of $5, while City Index offers free withdrawals.
Verdict
eToro offers the best funding options, with a score of 8.50 compared to City Index’s 6.40, providing a wider variety of payment methods, including e-wallets and cryptocurrencies, which are increasingly popular among traders.
10. City Index: Lower Minimum Deposit
City Index has a lower minimum deposit requirement of $0 vs $50 from eToro. However, City Index’s $0 feature is limited to bank transfers, with more information in the table below:
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $150 |
| Paypal | £50 Minimum Deposit | $50 Minimum Deposit | €50 Minimum Deposit | $150 |
| Bank Wire | £0 Minimum Deposit | $0 Minimum Deposit | €0 Minimum Deposit | $150 |
| Skrill | N/A | N/A | N/A | N/A |
For eToro, the minimum deposit varies between $50 and $200.
| US Clients | Algeria, Lebanon, Maldives & Venezuela | Bank Transfer | Credit/Debit Cards | |
|---|---|---|---|---|
| eToro Minimum Deposit | USD 50 | USD 5,000 | USD 500 | USD 200 |
Verdict
City Index wins this category with its $0 minimum.
City Index ReviewVisit City Index
Your capital is at risk ‘70% of retail CFD accounts lose money with City Index’
So is City Index or eToro The Best Broker?
City Index is the winner because it consistently outperforms in key areas such as spreads and fees, trading experience, product range, and customer service. These factors are critical for traders who value a comprehensive trading environment with various options and support.
The table below summarises the key information leading to this verdict:
| Categories | eToro | City Index |
|---|---|---|
| Lowest Spreads And Fees | No | Yes |
| Better Trading Platform | Yes | Yes |
| Superior Accounts And Features | Yes | Yes |
| Best Trading Experience And Ease | No | Yes |
| Stronger Trust And Regulation | Yes | No |
| Top Product Range And CFD Markets | No | Yes |
| Superior Educational Resources | Yes | Yes |
| Superior Customer Service | No | Yes |
| Better Funding Options | Yes | No |
| Lower Minimum Deposit | No | Yes |
eToro: Best For Beginner Traders
For beginner traders, eToro is the better choice due to its stronger trust and regulation and better funding options.
City Index: Best For Experienced Traders
For experienced traders, City Index stands out with its competitive spreads and fees, extensive product range, and superior trading experience.
FAQs Comparing eToro Vs City Index
Does City Index or eToro Have Lower Costs?
City Index generally has lower costs, especially when it comes to trading spreads and fees. City Index offers competitive spreads that start from 0.5 pips for major currency pairs. eToro, on the other hand, typically has a spread starting from 1 pip. For traders looking to minimize costs, City Index’s tighter spreads can make a significant difference over time. For a deeper understanding of how spreads affect trading costs, you can delve into the comprehensive guide on lowest spread forex brokers available.
Which Broker Is Better For MetaTrader 4?
Both City Index and eToro offer MetaTrader 4 (MT4), but City Index provides a more tailored experience for MT4 users with enhanced trading tools and comprehensive charting capabilities. If you’re looking for a robust MT4 experience with advanced features, City Index is the go-to broker. To find out more about top-rated MT4 platforms, see the best MT4 brokers ranked.
Which Broker Offers Social Trading?
eToro is celebrated for its social trading platform, which allows users to emulate the trades of successful investors. This feature is particularly beneficial for beginners or those looking to leverage the expertise of seasoned traders. eToro’s platform is intuitive and integrates social trading features effectively, making it a top choice for social trading.
Does Either Broker Offer Spread Betting?
City Index offers spread betting, while eToro does not. Spread betting is a tax-efficient way of speculating on the financial markets in the UK. City Index provides a robust platform for spread betting with a comprehensive range of markets available. For traders looking to delve into this area, City Index could be the preferred choice. To compare spread betting services and platforms, you might want to look at a list of top-rated spread betting brokers.
What Broker is Superior For Australian Forex Traders?
In my opinion, City Index has a slight edge for Australian Forex traders. Both are overseen by ASIC, ensuring they adhere to strict regulatory standards. City Index, however, has a more pronounced presence in Australia, with dedicated local services and support. eToro also caters to Australian clients but isn’t native to Australia. For those seeking a broker with a strong focus on Australian traders, explore the Best Forex Brokers In Australia.
What Broker is Superior For UK Forex Traders?
For UK Forex traders, I find City Index to be a step ahead. Both brokers are FCA regulated, which is crucial for trust and reliability. City Index, with its UK origins, offers a more localized and specialized service portfolio for UK traders. eToro serves the UK market but doesn’t have the same level of tailored services. If you’re looking for a platform that understands the nuances of the UK market, discover the Best Forex Brokers In UK.
Article Sources
No commission account spread proprietary testing data and published website spread information, centralised on our Standard Account Spreads page.
Raw account spreads (no commission) published on each broker's website (updated monthly) plus our proprietary tests by Ross Collins.
Raw Account Spreads
Published commission rates taken from each broker's website (updated monthly) for each base currency rate.
Commission Fees
Other eToro and City Index Comparison
Ask an Expert
How to make a passive income on eToro?
Unfortunately we can’t give investment advise but eToro do have a number of passive income strategies you could look into. These include buying CFD shares, indices and ETFs.
Can I withdraw money from eToro to a different bank account?
Yes but this bank account must be in your name and you will need need to link the bank account to your eToro money account. You may need to wait a few days for security purposes.