Dive into our comprehensive comparison of XM vs City Index. We dissect their trading costs, platforms, account types, and more to help you make an informed decision.
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We conducted an in-depth comparison of XM Group and City Index on trading costs, platforms, and account types. Discover each broker’s strengths and choose your best forex trading partner.
XM Group and City Index are both reputable forex brokers, but they cater to different types of traders. XM Group is known for its wide range of trading instruments and flexible account types, while City Index stands out for its advanced trading platforms and competitive spreads.
Regarding trading costs, both XM Group and City Index have their strengths.
The devil is in the details often when it comes to forex trading. And one of those details that can make a significant difference to your bottom line is the spread. Let’s look at the standard account spreads offered by XM and City Index and see how they stack up against the industry average.
XM, for instance, offers a spread of 1.6 for EUR/USD, which is higher than the industry average of 1.18. This trend continues across the board, with XM’s spreads consistently higher than the industry average. It might seem like a minor difference, but it can add up over time and many trades.
On the other hand, City Index offers a spread of 0.7 for EUR/USD, significantly lower than the industry average. In fact, City Index consistently offers lower spreads across all forex pairs than the industry average. All other things being equal, trading with City Index could result in lower costs over time.
| Forex Pair | XM | City Index | Industry Average |
|---|---|---|---|
| EUR/USD | 1.6 | 0.7 | 1.18 |
| USD/JPY | 1.5 | 0.6 | 1.37 |
| GBP/USD | 1.9 | 1.1 | 1.51 |
| AUD/USD | 1.6 | 2.2 | 1.41 |
| USD/CAD | 2.0 | 1.6 | 1.70 |
| EUR/GBP | 1.8 | 1.1 | 1.56 |
| EUR/JPY | 2.1 | 1.6 | 1.85 |
| AUD/JPY | 3.2 | 2.2 | 2.09 |
Standard Account Analysis Updated September 2023[1]September 2023 Published And Tested Data
In conclusion, City Index is the more cost-effective option if we’re purely looking at spreads. However, it’s important to remember that spreads are just one factor when choosing a forex broker. Other factors, such as customer service, trading platforms, and overall trading experience, should also be considered.
On the other hand, City Index’s RAW account offers competitive spreads, which can result in significant savings for high-volume traders.
City Index charges lower commission rates, which can add up to substantial savings over time, especially for active traders.
The broker charges neither deposit nor withdrawal fees, a plus for traders who frequently move money in and out of their trading accounts.
City Index has fewer miscellaneous fees than XM Group, which can make a difference in the long run.
Verdict: While both brokers offer competitive trading costs, City Index comes out on top due to its lower commission rates and fewer miscellaneous fees.
| Criteria | XM Group | City Index |
|---|---|---|
| Standard Account Spreads | Tighter | Wider |
| RAW Account Spreads | Wider | Tighter |
| Commission Rates | Higher | Lower |
| Deposit & Withdrawal Fees | No | No |
| Other Fees | More | Fewer |
City Index ReviewVisit City Index
*Your capital is at risk ‘71% of retail CFD accounts lose money’
XM Group is regulated by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). City Index, on the other hand, is regulated by the Financial Conduct Authority (FCA), the Monetary Authority of Singapore (MAS), and the Australian Securities and Investments Commission (ASIC).
Verdict: Both brokers are well-regulated, but City Index has a slight edge due to its FCA regulation, which is considered one of the strictest regulatory bodies in the world.
| Broker | Regulators |
|---|---|
| XM Group | FCA, DFSA, IFSC, CySEC, ASIC |
| City Index | FCA, MAS, ASIC |
City Index ReviewVisit City Index
*Your capital is at risk ‘71% of retail CFD accounts lose money’
Both XM Group and City Index offer a range of trading platforms to suit different trading styles and experience levels.
Both brokers offer MetaTrader 4 and 5, famous for their advanced charting features and automated trading capabilities.
While XM Group offers cTrader, City Index does not. However, City Index provides TradingView, known for its social trading features.
| Criteria | XM | City Index |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | Yes | No |
| cTrader | No | No |
| TradingView | No | Yes |
| Other Platforms | XM App/Tablet | City Index WebTrader |
| VPS Services | Yes | Yes |
Both brokers offer social and copy trading features, allowing traders to follow and copy the trades of experienced traders.
Both brokers offer VPS and other trading tools to enhance the trading experience.
| Broker | Limit Order Speed | Market Order Speed |
|---|---|---|
| XM | N/A | N/A |
| City Index | 117 ms | 144 ms |
Verdict: Both brokers offer a wide range of trading platforms and tools, but XM Group has a slight edge due to its offering of cTrader.
When it comes to execution speed, both brokers are highly competitive. However, XM Group has a slight edge due to its superior order execution technology.
Verdict: XM Group wins this category due to its faster execution speed.
| Criteria | Execution Speed | Limit Order | Market Order |
|---|---|---|---|
| XM | Faster | 15 ms | 18 ms |
| City Index | Competitive | 7 ms | 8 ms |
XM Group offers three main account types: Micro, Standard, and XM Zero. City Index, on the other hand, offers two main account types: Standard and Premium.
Verdict: XM Group wins this category due to its more comprehensive range of account types.
| Broker | Account Types |
|---|---|
| XM Group | Micro, Standard, XM Zero |
| City Index | Standard, Premium |
Both retail forex brokers offer excellent customer service, with multiple channels of communication and support available 24/5. However, XM Group has a slight edge due to its multilingual support and faster response times.
Verdict: XM Group wins this category due to its superior customer service.
| Broker | Customer Service |
|---|---|
| XM Group | Superior |
| City Index | Excellent |
There are several other factors to consider when choosing a forex broker.
XM Group has a lower minimum deposit requirement, making it more accessible for beginner traders.
Both brokers offer a wide range of payment methods, including credit/debit cards, bank transfers, and e-wallets.
Verdict: XM Group wins this category due to its lower minimum deposit requirement and a wider range of trading instruments.
| Criteria | XM Group | City Index |
|---|---|---|
| Minimum Deposit | Lower | Higher |
| Payment Methods | Wide Range | Wide Range |
| Other Factors | More | Less |
| Trading Instruments | 55 | |
| Forex CFD | 55 | 84 |
| Shares CFD | 1261 | 4500+ |
| Cryptos CFD | No | 25+ |
| Commodities CFD | 2 Metals 5 Energies 8 Softs |
4 Metals 8 Energies 18 Softs |
| Indices CFD | 14 | 20 |
| Bonds/Treasuries CFD | No | 11 |
| Spread Betting (UK only) | No | Yes |
| Other Products | No | No |
| Shares (underlying) | No | No |
Best For Beginner Traders: XM Group is the best choice for beginner traders for its lower minimum deposit requirement, more comprehensive range of account types, and superior customer service.
Best For Experienced Traders: City Index is the best choice for experienced traders for its advanced trading platforms, competitive spreads, and strict regulation.
CriteriaXM GroupCity Index
| Criteria | XM Group | City Index |
|---|---|---|
| Beginner Traders | Best | Good |
| Experienced Traders | Good | Best |
City Index ReviewVisit City Index
*Your capital is at risk ‘71% of retail CFD accounts lose money’
XM Group is the best choice for beginner traders for its lower minimum deposit requirement, wider range of account types, and superior customer service.
City Index is the best choice for experienced traders for its advanced trading platforms, competitive spreads, and strict regulation.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
