XM vs CityIndex

XM vs CityIndex Comparison Table 2024
XM CityIndex
4.4
4.4
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.

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
3
Bonus Offer
$30 No Deposit Bonus When You Register A Real Account
Comment by Reviewer
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading." "City Index is best for new and intermediate traders looking for a wide selection of assets on user-friendly platforms."
Pros
  • Transparent and low fees with spreads from 0.0 pips that will protect day trading profit margins
  • XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights
  • The broker offers premium research including market sentiment, fundamental insights and strategy builders
  • Accessible trading accounts with a $5 minimum deposit and fast account opening
  • Powerful MT4 and MT5 platforms are available with 60+ and 80+ technical charting tools, respectively
  • Reliable 24/7 customer support with fast response times within a few minutes during testing
  • XM is a hugely respected broker authorized by tier-one regulators
  • 1000+ instruments are offered including 50+ forex pairs which is higher than average
  • XM provides a no re-quotes and no rejections policy
  • 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
  • There is weak regulatory oversight through the global entity
  • There's $5 inactivity fee after only 3 months, though this won't affect active traders
  • PayPal deposits are not supported
  • Cryptocurrency trading not available in all locations
  • No Islamic account for Muslim traders
  • $15 monthly inactivity fee
  • US traders not accepted
Awards
  • The Best Crypto CFDs 2022 - Financial Expo Egypt
  • Best FX Service Provider 2022 - City of London Wealth Management Awards
  • Best MT4/MT5 Broker 2021 - DayTrading.com
  • Best FX Educational Broker in the MENA region 2021 - Dubai Expo Awards
  • Best Trading Experience 2021 - Ultimate Fintech
  • Best FX Service Provider 2021 - City of London Wealth Management Awards
  • Best Broker in Customer Service 2020 - FX168
  • Global Forex Broker of the Year 2020 - Global Forex Awards
Instruments
Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures CFDs, Forex, Stocks, Cryptos, Options, Commodities, Bonds
Demo Account
Yes Yes
Minimum Deposit
$5 $0
Trading Platforms
  • MT4
  • MT5
  • MT4
  • TradingView
  • TradingCentral
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, CySEC, DFSA, FSC, FSCA ASIC, FCA, MAS
Margin Trading
Yes No
Margin Rate
0.2% 2.5%
STP Account
No Yes
ECN Account
No No
DMA Account
No Yes
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
Yes No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS, Android & Windows Yes
App Review

XM offer a mobile app for both Android and iOS that has been specifically tailored to each platform, maximizing the functionality of both. The app delivers the MT4 and MT5 software on the move, with full access to the broker’s 1000+ instruments. Where they shine is their dependability with minimal glitches and delays during testing. The built-in news, trading journal and push notifications also ensure you have everything you need to day trade from your hand.

Android App Rating
3.9
2.8
iOS App Rating
4.7
3.8
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes No
Copy Trading Platform
XM global offers a pre-integrated signals service via the MT5 platform. Aspiring investors can view detailed performance metrics and copy the trades of strategy managers. It's easy to set up, only requiring a handful of steps after logging in to your MQL5 community account.
Social Trading
Yes No
Trade Signals
Yes Smart Signals
VPS Hosting
Yes No
Tournaments
Yes No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No Yes
Inactivity Fee
$5 £12
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • AUD
  • JPY
  • ZAR
  • CHF
  • SGD
  • PLN
  • HUF
  • USD
  • EUR
  • GBP
  • AUD
  • CZK
Stock Exchanges
Commodities
CFD Trading
Day traders can speculate on leveraged CFDs with zero commissions, spanning popular markets including currencies, equities and commodities. Additionally, the MetaTrader platforms collectively offer dozens of advanced technical indicators built for short-term strategies. 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
1:1000 1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.
FTSE Spread
1.5 pts 1 pt
GBPUSD Spread
1.9 0.8 pips
Oil Spread
0.03 0.4
Stocks Spread
0.002 Variable
Forex Trading
XM offers ultra low spreads across a wide range of forex assets with no re-quotes or hidden charges. Over 50 currency pairs are available, which is above the market average and is in line with one of our top award-winners, AvaTrade. 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

XM offer a mobile app for both Android and iOS that has been specifically tailored to each platform, maximizing the functionality of both. The app delivers the MetaTrader 4 and MetaTrader 5 platforms in your hand, with full forex trading and charting capabilities. Try it out today.

GBPUSD Spread
1.9 0.8
EURUSD Spread
1.6 0.5
EURGBP Spread
1.8 0.8
Assets
55+ 84
Currency Indices
  • USD
  • USD
Cryptocurrency
XM offers a handful of cryptocurrencies against the USD via the South African entity only. These are tradable via CFDs with high leverage up to 1:500. You can explore major tokens like Bitcoin, Ethereum and Ripple with just a $30 deposit. 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
Variable BTC 0.5%, ETH 1%
Coins
  • BTC
  • ETH
  • LTC
  • XRP
  • BCH
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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