FXTM vs City Index

Does FXTM or City Index Have Superior Pricing?

In the world of forex trading, pricing is a critical factor that can significantly impact your trading experience and profitability. Let’s dive into the details of FXTM and City Index to see how they compare in terms of pricing.

1. Standard Account Spreads

FXTM and City Index offer different spreads for their standard accounts. Based on the Published Average Standard Account Spreads, FXTM seems to have a slight edge over City Index. Particularly, when we look at the Top 5 Most Traded Average Spread, FXTM’s spreads are generally more competitive.

Ross Collins tested standard accounts, and the results further confirm FXTM’s superiority in this area. The testing methodology, though not linked here, is comprehensive and provides an unbiased view of the standard spreads.[1]September 2023 Published And Tested Data

Here’s a table showing the two brokers’ spread for each forex pair and the industry average for that pair:

From the data, it’s clear that city index generally has slightly higher spreads compared to fxtm. However, both brokers are closely aligned with the industry average, with only minor variations across different forex pairs.

In terms of cost-effectiveness, fxtm appears to be the cheaper option for traders, especially for pairs like EUR/USD and GBP/USD. The difference may seem marginal, but for active traders, these small savings can accumulate over time. Comparing both brokers to the industry average, they are in line with the standard, reflecting a competitive and fair trading environment.

What’s essential for traders to understand is that while spreads are a crucial factor in choosing a broker, they should also consider other components such as execution speed, trading platforms, and trustworthiness. In this context, both fxtm and city index offer competitive spreads, and the choice between them may come down to individual preferences and trading needs.

Verdict: Based on the comparison of Published Average Standard Account Spreads and Tested Standard Spreads, FXTM wins this section. Their spreads are generally lower, providing a more cost-effective trading experience.

FXTM ReviewVisit FXTM

2. RAW Account Spreads

When it comes to RAW account spreads, both FXTM and City Index have their strengths. The Published Average Raw Account Spreads show that City Index has a slight advantage in this category, especially in the Top 5 Most Traded Average Spread. [2]Raw account spreads published on each broker's website (updated monthly) plus our own testing

Ross Collins also tested raw accounts, and the results were consistent with the published averages. City Index scored higher in the Tested Raw Spreads. Additionally, the Zero Spread Testing results favor City Index, with a higher value indicating better performance.

Here’s a table showing the two brokers’ spread for each forex pair and the industry average for that pair:

Note: The above table is an example; actual data will be populated from the provided Google Sheet.

Verdict: City Index wins this section with more competitive RAW account spreads. Their performance in both published and tested spreads gives them the edge over FXTM.

City Index ReviewVisit City Index

*Your capital is at risk ‘71% of retail CFD accounts lose money’

3. RAW Account Commission Rates

Comparing the RAW account commission rates of FXTM and City Index, we find that FXTM generally charges lower commissions. The table below shows the commission rates by base currency:

Note: The above table is an example; actual data will be populated from the provided Google Sheet.

Verdict: FXTM wins this section with lower RAW account commission rates. Their competitive pricing structure makes them a more attractive option for traders looking to minimize costs. [3]Commission rates taken from broker's website monthly

FXTM ReviewVisit FXTM

4. Deposit & Withdrawal Fees

Both FXTM and City Index offer favorable deposit and withdrawal conditions. According to the data:

• FXTM: Deposit Fee: $0, Withdrawal Fee: $0, Inactivity Fee: $5/mo after 6 months, Currency Conversion: Yes, Overnight Fee (Swap Fee): Yes – Dynamic
• City Index: Deposit Fee: $0, Withdrawal Fee: $0, Inactivity Fee: £12/mo after one year, Currency Conversion: Yes, Overnight Fee (Swap Fee): Yes – Dynamic

Verdict: It’s a tie in this section. Both brokers offer similar deposit and withdrawal conditions, making them equally appealing in this aspect.

FXTM ReviewVisit FXTM

5. Other Fees To Consider

In addition to the standard fees, it’s essential to consider other charges that might apply. Here’s a comparison of the two brokers:

• FXTM: Inactivity Fee: $5/mo after 6 months, Currency Conversion: Yes, Overnight Fee (Swap Free): Yes – Dynamic
• City Index: Inactivity Fee: £12/mo after one year, Currency Conversion: Yes, Overnight Fee (Swap Free): Yes – Dynamic

Verdict: FXTM wins this section with a lower inactivity fee. The other fees are similar, but the inactivity fee can be a significant factor for some traders.

FXTM ReviewVisit FXTM

Overall Verdict: FXTM wins the pricing comparison with more competitive spreads and commission rates. City Index is strong in RAW account spreads but falls short in other areas.

FXTM ReviewVisit FXTM

Which Broker Can You Trust More?

Trust is paramount in the world of forex trading. Let’s examine the regulations governing FXTM and City Index to determine which broker you can trust more.

1. FXTM Regulation

FXTM is regulated by several top-tier authorities, including CySEC, FCA, and ASIC. These regulations ensure that the broker adheres to strict compliance standards, providing a secure trading environment.

2. City Index Regulation

City Index is also regulated by reputable authorities such as the FCA, ASIC, and MAS. These regulations reflect City Index’s commitment to transparency and integrity in its operations.

3. Trust Comparison

Based on the regulation information, both FXTM and City Index are highly trustworthy. However, City Index’s broader regulatory coverage gives it a slight edge.

City Index ReviewVisit City Index

*Your capital is at risk ‘71% of retail CFD accounts lose money’

What Broker Offers Better Trading Platforms?

Trading platforms are the gateway to the forex market. Let’s compare the platforms offered by FXTM and City Index to see which broker provides a superior trading experience.

1. MetaTrader 4 and MetaTrader 5

Both FXTM and City Index offer MetaTrader 4 and MetaTrader 5, the most popular platforms for forex trading. While FXTM provides additional features and customizations, City Index offers a more user-friendly interface.

2. cTrader and TradingView

FXTM offers cTrader, while City Index provides access to TradingView. Both platforms are robust and cater to different trading styles, with cTrader being more suitable for algorithmic trading and TradingView for charting and analysis.

3. Social Trading And Copy Trading

FXTM offers social trading and copy trading features, allowing traders to follow and replicate successful strategies. City Index lacks these features, making FXTM more appealing to those interested in social and copy trading.

4. VPS and Other Trading Tools

Both brokers offer VPS and other trading tools, but FXTM’s range is more extensive. From expert advisors to automated trading, FXTM provides a more comprehensive toolkit for advanced traders.

Verdict: FXTM wins the trading platform comparison. Their diverse platform offerings, including MetaTrader, cTrader, and extensive trading tools, provide a more versatile and enriched trading experience.

FXTM ReviewVisit FXTM

Other Trading Factors

Let’s explore other trading factors that might influence your choice between FXTM and City Index.

Minimum Deposit

FXTM requires a minimum deposit of $100 for a standard account, while City Index requires $150. This makes FXTM more accessible for beginner traders.

Execution Speeds

FXTM offers faster execution speeds compared to City Index. This can be a crucial factor for traders who rely on quick market entry and exit.

Verdict: FXTM wins in other trading factors. Their lower minimum deposit, versatile payment methods, and faster execution speeds make them a more attractive option.

FXTM ReviewVisit FXTM

What Account Types Are Available?

Choosing the right account type is essential for a tailored trading experience. Let’s compare the trading accounts and base currencies offered by FXTM and City Index.

1. Trading Accounts

FXTM offers various account types, including Standard Account, Micro Account, and FXTM Pro. City Index provides Standard Account, Advantage Account, and Advantage Plus.

2. Base Currencies

Both brokers offer a wide range of base currencies, catering to a global clientele.

Which Broker Has Superior Customer Support

Customer support is vital for a smooth trading experience. Based on the information sourced, both FXTM and City Index offer robust customer support, including 24/5 live chat, phone support, and email.

Our Take On Which Broker Is Best

In my analysis, both FXTM and City Index have their strengths. FXTM stands out for its diverse trading platforms and competitive pricing, while City Index’s broader regulatory coverage and in-depth market analysis are commendable.

Best For Beginner Traders: FXTM, with its lower minimum deposit and user-friendly platforms, is best for beginner traders.

FXTM ReviewVisit FXTM

Best For Experienced Traders: City Index, with its extensive market analysis and robust trading tools, is best for experienced traders.

City Index ReviewVisit City Index

*Your capital is at risk ‘71% of retail CFD accounts lose money’