Forex.com vs. City Index – Which Broker Is the Best for Your Trading Needs?
Forex.com and City Index are leading global Forex brokers, but which one should you trust your Forex portfolios with?
I have conducted an in-depth review of Forex.com vs. City Index to determine which presents the better overall choice and which traders will benefit the most at either broker.
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Headquarters | United States | United Kingdom |
Regulators | ASIC, CFTC, CIMA, CySEC, FCA, FSA, IIROC, NFA | CySEC, FCA, FSA |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2001 | 1983 |
Execution Type(s) | Market Maker | ECN/STP |
Minimum Deposit | $100 | None |
Negative Balance Protection | N/A | |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform, Trading View | MetaTrader 4, Proprietary platform, Web-based |
Average Trading Cost EUR/USD | 1.1 pips | 0.9 pips ($9.00) |
Average Trading Cost GBP/USD | 1.3 pips | 1.5 pips ($15.00) |
Average Trading Cost WTI Crude Oil | $0.035 | $0.12 |
Average Trading Cost Gold | $0.63 | $0.50 |
Retail Loss Rate | 73.00% | N/A |
Minimum Raw Spreads | 0.0 pips | N/A |
Minimum Standard Spreads | 0.8 pips | N/A |
Minimum Commission for Forex | $5 per $100K | N/A |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Get Started | Get Started |
A Snapshot of the Most Notable Advantages of Forex.com
- Ultra-low trading fees in the Raw Spread account
- Six-tier volume-based rebate program with up to $50 per $1M traded
- Capitalise AI for code-free algorithmic trading
- 99.69% of trade execution in less than one second
- Average execution speed of 0.03 seconds
- 58.24% of limit orders with price improvement
- Average Forex price improvement of 0.73 pips or $7.30 per 1.0 standard lot
A Snapshot of the Most Notable Advantages of City Index
- 1M+ trading accounts
- TradingView for social trading
- Average order execution speed of 0.02 seconds
- 99.73% of orders are executed in under one second
- 99.99% of orders with successful execution
Features & Platforms
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MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | N/A | |
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | N/A | |
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Get Started | Get Started |
Available Markets
| | |
Currency Pairs | N/A | |
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
ETFs | ||
Futures | ||
Synthetics | ||
| Get Started | Get Started |
A review of Forex.com shows that traders can trade 80+ currency pairs and 5,500+ equity-focused trading instruments. City Index counters with 80+ and 13,500+, respectively, but it does not offer cryptocurrency CFD trading, except for Australian-resident traders.
Here is why City Index is a better choice for most traders:
- Faster order execution
- Higher volume-based rebate program
Typical Spreads & Fees
| | |
Average Trading Cost EUR/USD | 1.1 pips | 0.9 pips ($9.00) |
Average Trading Cost GBP/USD | 1.3 pips | 1.5 pips ($15.00) |
Average Trading Cost WTI Crude Oil | $0.035 | $0.12 |
Average Trading Cost Gold | $0.63 | $0.50 |
Average Trading Cost Bitcoin | $60 | $60.00 |
Minimum Raw Spreads | 0.0 pips | N/A |
Minimum Standard Spreads | 0.8 pips | N/A |
Minimum Commission for Forex | $5 per $100K | N/A |
Deposit Fee | N/A | |
Withdrawal Fee | N/A | |
Inactivity Fee | $15 monthly after 12 months | N/A |
| Get Started | Get Started |
Forex.com offers both commission-free and commission-based accounts. Meanwhile, City Index maintains a commission-free Forex pricing environment.
So, which are cheaper?
Average Forex.com fees are lower than City Index fees, but high-volume traders may achieve lower costs at City Index.
Account Types
The Forex.com account types and the City Index account types lack swap-free Islamic and managed accounts. Commission-based equity trading has identical commissions at Forex.com and City Index.
A review of City Index shows other noteworthy contrasts in account structure between the two brokers.
Here is what stands out the most, in terms of account type differences between Forex.com vs. City Index:
- Forex.com offers commission-based Forex trading with raw spreads
- City Index has higher volume-based rebates
- TradingView is equally available
Minimum Deposit
How difficult is it to deposit at Forex.Com vs. City Index?
The Forex.com minimum deposit is $100, matching the $100 City Index minimum deposit, which is a reasonable request but higher than some competitor’s minimum requirements. Neither Forex broker levies internal deposit fees, but third-party costs may apply. Forex.com has more payment processors, but City Index supports more deposit currencies.
Minimum Withdrawal
Which withdrawal process is better: Forex.com or City Index?
Regarding withdrawals at Forex.com and City Index, the minimum withdrawal amount for both is $100, or a currency equivalent. Neither Forex.com nor City Index levy internal withdrawal fees, but traders may face third-party processing costs or currency conversion fees. Traders have more Forex.com withdrawal methods than City Index withdrawal methods. Both Forex brokers maintain a trusted withdrawal infrastructure.
Security & Trust
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Country of the Regulator | Australia, Canada, Cyprus, Japan, Cayman Islands, Singapore, United Kingdom, United States | Australia, United Kingdom |
Name of the Regulator | ASIC, CFTC, CIMA, CySEC, FCA, FSA, IIROC, NFA | CySEC, FCA, FSA |
Regulatory License Number | 0339826,291, Undisclosed, 446717, 400/21, 25033, 345646, Undisclosed | 446717, 345646 |
Regulatory Tier | N/A | 1, 1 |
| Get Started | Get Started |
Which Broker Is More Secure and Trustworthy?
Forex.com and City Index share the same corporate owner, StoneX. Both Forex brokers segregate client deposits from corporate funds and offer negative balance protection. Forex.com and City Index have 20+ years of operational excellence, and I rank both Forex brokers on par for security and trustworthiness.
City Index versus Forex.com Verdict
Forex.com
Pros | Cons |
80+ currency pairs and overall quality asset selection | Limited funding options |
High-quality proprietary web-based and desktop trading platform plus MT4/MT5 | |
Competitive trading costs for active traders | |
Research, education, and quality trading tools |
City Index
Pros | Cons |
High-quality proprietary trading platform alongside MT4 | Limited funding options |
Well-balanced asset selection, including 80+ currency pairs | |
High-speed order execution and deep liquidity pools | |
Quality education and research for beginner traders |
Which Forex Broker Is Better?
Forex.com and City Index are industry-leading brokers owned by StoneX, and I recommend traders test the trading environments in the Forex.com demo account and the City Index demo account.
Here Is My Verdict
City Index is an excellent choice, especially for high-volume and algorithmic traders. Forex.com takes a marginal lead amid the availability of Capitalise AI for algorithmic trading in a code-free environment, lower average Forex trading fees, and faster withdrawal processing.
FAQs
Is Forex.com real or fake?
Forex.com is a genuine broker and industry leader with a well-regulated trading environment, publicly listed corporate ownership, and an excellent track record.
Is City Index regulated?
City Index is a well-regulated Forex broker with multiple licenses and a publicly listed corporate owner.
Is Forex.com a good broker?
Foex.com is an industry-leading Forex broker with cutting-edge infrastructure, low trading fees, and superb price improvement technology.
Is City Index a good broker?
City Index is an excellent broker with a well-balanced asset selection, fast order execution, low Forex trading fees, and a high-paying, volume-based rebate program.