FOREX.com vs CityIndex

FOREX.com vs CityIndex Comparison Table 2024
FOREX.com CityIndex
4.5

FOREX.com is #1 in our broker rankings.

4.4
United States Flag Traders from US accepted
United States Flag Traders from US not accepted

Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

City Index is an established and award-winning forex, CFD and spread betting broker with top-tier global regulation, including in the UK (FCA) and Australia (ASIC). With 30+ years in the industry, 13,500+ instruments and 24/5 customer support, City Index is a solid pick for aspiring traders.

Customer Reviews
4.7
Bonus Offer
Active Trader Program With A 15% Reduction In Costs
Comment by Reviewer
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools." "City Index is best for new and intermediate traders looking for a wide selection of assets on user-friendly platforms."
Pros
  • With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
  • The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
  • Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
  • FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
  • There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
  • Thousands of instruments including thematic indices and interest rates that are not available at many alternatives
  • Industry-leading platforms including MT4, plus access to cutting-edge third-party tools like TradingView
  • Excellent reputation with over 1 million account holders and tier-one regulatory oversight
  • Tight spreads from 0.5 pips on EUR/USD and competitive commissions on CFD shares
  • A free demo account with unrestricted access to all markets and trading tools
  • Extended hours trading on 70+ popular shares including Amazon and Tesla
  • No minimum deposit to get started
Cons
  • Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
  • FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
  • Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
  • Cryptocurrency trading not available in all locations
  • No Islamic account for Muslim traders
  • $15 monthly inactivity fee
  • US traders not accepted
Awards
  • Best CFD Broker 2022 - Rankia
  • Best HNW Service 2022 - Dubai Forex Expo
  • Best US Broker 2020 - DayTrading.com
  • Best US Broker 2019 - DayTrading.com
  • Runner-Up - Best Forex Broker 2019 - DayTrading.com
Instruments
Forex, Spot Metals CFDs, Forex, Stocks, Cryptos, Options, Commodities, Bonds
Demo Account
Yes Yes
Minimum Deposit
$100 $0
Trading Platforms
  • MT4
  • MT5
  • TradingView
  • eSignal
  • AutoChartist
  • TradingCentral
  • MT4
  • TradingView
  • TradingCentral
Payment Methods
Debit Card, ACH Transfer, Wire Transfer
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
NFA, CFTC ASIC, FCA, MAS
Margin Trading
Yes No
Margin Rate
2.5%
STP Account
Yes Yes
ECN Account
Yes No
DMA Account
Yes Yes
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
Yes No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS & Android Yes
App Review

Running alongside the MT4 and Web Trader platforms, the FOREX.com app offers full trading capabilities on a user-friendly, compact platform. Integrated news and analysis, plus real time trade alerts, are two mobile specific features that set this app above the crowd. Additionally, it beats out MT4 when it comes to mobile charting tools, with over 80 indicators and 11 chart types, not to mention a slicker design that we love.

Android App Rating
3.8
2.8
iOS App Rating
3.6
3.8
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
No No
Trade Signals
SMART Signals Smart Signals
VPS Hosting
Yes No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No Yes
Inactivity Fee
$15 £12
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • PLN
  • USD
  • EUR
  • GBP
  • AUD
  • CZK
Stock Exchanges
Commodities
CFD Trading
CFD trading not offered Trade 5,000+ CFDs from a single account with no hidden fees and free live market data. The suite of markets is impressive vs alternatives, including access to shares, indices, commodities and bonds.
Leverage
1:50 1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.
FTSE Spread
1.0 1 pt
GBPUSD Spread
1.3 0.8 pips
Oil Spread
2.5 0.4
Stocks Spread
0.14 Variable
Forex Trading
FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets. Trade a wide selection of 80+ currency pairs with spreads from 0.5 pips and industry-favorite platforms. City Index has 40+ years experience in forex trading with liquidity from tier-one banks.
Forex App

Running alongside the Advanced and Web Trader Platforms, the FOREX.com mobile app offers full trading capabilities on a user-friendly, compact platform. Integrated news and analysis, plus real time trade alerts, are two mobile specific features that set this app above the crowd.

GBPUSD Spread
1.3 0.8
EURUSD Spread
1.2 0.5
EURGBP Spread
1.4 0.8
Assets
80+ 84
Currency Indices
  • USD
Cryptocurrency
Crypto trading not offered Go long or short on popular digital currencies with ultra-tight spreads and fast order executions. Leverage also allows traders to magnify their purchasing power.
Spread
BTC 1.4%, ETH 2% BTC 0.5%, ETH 1%
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XRP
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
More Comparisons
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