XM vs City Index: Which One Is Best?

2. XM: Better Trading Platforms

XM offers both MetaTrader 4 and 5, while City Index only has MT4 but has TradingView. While City Index does not offer cTrader, XM does.

Social And Copy Trading

Both brokers offer social and copy trading features, allowing traders to follow and copy the trades of experienced traders.

VPS and Other Trading Tools

Both brokers offer VPS and other trading tools to enhance the trading experience.

Verdict

Both brokers offer a wide range of trading platforms and tools, but XM Trading has a slight edge due to its offering of cTrader.

XM ReviewVisit XM

3. XM: Superior Accounts And Features

XM Trading offers three main account types: Micro, Standard, and XM Zero. City Index, on the other hand, offers two main account types: Standard and Premium.

XM Account Types

City Index Account Types

Verdict

XM Trading wins this category due to its more comprehensive range of the Best Brokers for Micro Trading.

XM ReviewVisit XM

4. City Index: Best Trading Experience

City Index uses a market-maker pricing model through its proprietary dealing desk.  XM provides traders in the UK and Europe with a competitive edge with its ECN spreads.

Our tests revealed that City Index has a slightly faster market order speed compared to XM.

Verdict

Based on our findings and tests, City Index offers a slightly better overall trading experience due to its lower spreads and faster market order speed.

City Index ReviewVisit City Index

Your capital is at risk ‘70% of retail CFD accounts lose money with City Index’

5. City Index: Stronger Trust And Regulation

Both brokers are similarly trustworthy in regulation, reputation, and reviews, with City Index and XM both scoring 67.

City Index Trust Score

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XM Trust Score

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Regulation

XM Trading is regulated by the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). City Index is regulated by the Financial Conduct Authority (FCA), the Monetary Authority of Singapore (MAS), and the Australian Securities and Investments Commission (ASIC).

Reputation

XM has been around since 2009 with headquarters in Belize City. City Index has more years in the industry, as their operations started in 1983 in London, UK.

A quite popular broker, XM has around 673,000 monthly hits on Google. Despite being around longer, City Index has only a 12,100 monthly search volume.

Reviews

While popular, XM only has a 3.3 out of 5 score on TrustPilot from 531 reviews.  Alternatively, City Index has a higher TrustPilot score of 4.3 from 284 users.

Verdict

Both brokers are well-regulated, but City Index has a slight edge as it’s among the FCA Regulated Brokers, with the FCA being considered one of the strictest regulatory bodies in the world.

 

City Index ReviewVisit City Index

Your capital is at risk ‘70% of retail CFD accounts lose money with City Index’

6. City Index: CFD Product Range And Financial Markets

XM offers a diverse range of more than 1,250 CFD trading products, including forex, shares, indices, and commodities. With City Index, traders have access to over 4,600 markets spanning forex, stocks, indices, cryptocurrencies, and more.

Our own testing didn’t reveal any broker that could outperform these two in terms of product range.

City Index not only offers a wider range of shares CFDs but also provides options for trading in cryptocurrencies and bonds, which are not available with XM. XM, however, has a decent range of Forex and commodities CFDs, making it a strong contender in this category.

Verdict

City Index takes the lead in offering a more comprehensive range of CFDs and markets, especially with its extensive shares of CFDs and additional trading options like cryptocurrencies and bonds.

City Index ReviewVisit City Index

Your capital is at risk ‘70% of retail CFD accounts lose money with City Index’

7. City Index: Superior Educational Resources

XM provides a comprehensive educational section on its website, including webinars, video tutorials, and articles. City Index, on the other hand, offers a well-structured educational portal with trading guides, webinars, and market analysis. Our own testing also provided some valuable insights into the educational features of both brokers.

• XM offers webinars that cover a wide range of topics, suitable for traders of all levels.
• City Index provides detailed trading guides that are especially useful for beginners.
• XM has a rich library of video tutorials that cover both basic and advanced trading strategies.
• City Index offers market analysis reports that can help traders make informed decisions.
• Both brokers provide demo accounts, allowing traders to practice without risking real money.
• Our tests gave City Index a score of 8.5 and XM a score of 7.5 in terms of educational resources.

City Index’s educational portal is not only well-structured but also covers a wide range of topics, making it suitable for both beginners and experienced traders. XM, although strong in its educational items, lacks the depth and variety that City Index provides.

Verdict

Based on our testing, City Index offers superior educational resources with a score of 8.5 compared to XM’s 7.5.

City Index ReviewVisit City Index

Your capital is at risk ‘70% of retail CFD accounts lose money with City Index’

8. City Index: Better Customer Service

XM customer service is available 24/7 via live chat, and email, while City Index is on 24/5 through live chat, email, and messenger.

City Index has a slight edge due to its excellent customer service knowledge and FAQ knowledge base.

Verdict

City Index wins this category due to its superior customer service.

XM ReviewVisit XM

9. XM: Better Funding Options

XM offers a variety of funding options, including credit/debit cards, electronic wallets, and bank wire transfers. City Index provides fewer options but focuses on the most commonly used methods like credit/debit cards and bank transfers.

As you can see, XM offers a broader range of funding options, including several e-wallets like Skrill and Neteller, which are not available with City Index. City Index, however, offers the most commonly used methods, making it easier for traders who prefer traditional funding options.

Verdict

Based on our testing, XM offers better funding options due to its wider variety of available methods.

XM ReviewVisit XM

10. City Index: Lower Minimum Deposit

City Index has a lower minimum deposit of $0 vs $5 from XM. However, the $0 requirement is limited to bank transfers in some regions.

Refer to the table below for City Index’s deposit requirements.

In contrast, XM offers a straightforward minimum deposit amount across the board.

Verdict

City Index wins with its $0 deposit requirement. Since both brokers offer traders a low entry point, we believe either is a winner. The winner overall will have to do well in the other areas.

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 XM The Best Broker?

City Index is the winner because it excels in more categories, including spreads and fees, trading experience, regulation, product range, and educational resources. The table below summarises the key information leading to this verdict.

City Index: Best For Beginner Traders

City Index is better for beginner traders due to its no minimum deposit and more educational resources.

City Index: Best For Experienced Traders

City Index is the best choice for experienced traders because of its advanced trading platforms, competitive spreads, and strict regulation.