AvaTrade vs City Index - Fees Review included
Which broker is better AvaTrade or City Index? Our expert assessment conducted according to TU’s own methodology showed that AvaTrade is one of the top brokers in the financial market with the TU Overall Score of 7.16 out of 10. City Index is one of the top brokers in the financial market with the TU Overall Score of 4.66 out of 10. Find out more about TU Overall Score.
| Feature | AvaTrade | City Index |
|---|---|---|
Overall |
4.6 |
3.9 |
4.7 |
4.5 |
|
4.4 |
4.7 |
|
4.4 |
4.2 |
|
Investment Instruments |
4.2 |
1 |
Platforms and Charting Tools |
4.6 |
3.7 |
Deposit and Withdrawal |
4.7 |
4.0 |
Research |
4.4 |
4.0 |
Education |
4.8 |
4.5 |
Support |
4.6 |
4.5 |
Bonuses |
3.9 |
3.8 |
|
|
AvaTrade vs City Index: Pros and Cons
AvaTrade was founded in 2006 in Dublin, Ireland. The company has offices in 150 countries. It currently has over 200, 000 registered users and processes more than 2 million transactions every month. These factors contribute to AvaTrade being a reliable and trusted broker. They are accredited across five continents and are one of the market leaders. The broker is regulated by the Australian Securities and Investment Commission (ASIC), the Japanese FSA, and the South African FSCA. AvaTrade holds accreditation by the Central Irish Bank, the Abu Dhabi Financial Services Regulatory Authority, and the British Virgin Islands Financial Services Commission. AvaTrade allows traders to trade stocks, securities, indices, cryptocurrencies, and currency pairs. In total, the offer more than 250 tools to customers.
The City Index broker was founded in 1983 in London. This company allows its clients to engage in active trading and place bets on the spread. City Index is licensed and regulated by the UK’s FSA — UK Financial Services Authority (license number 113942). The broker has received tremendous awards numerous times, including "Best Loyalty Trading Program" (2019), "Best Trading Platform" (2019), and "Best CFD Provider" (2020) while providing financial services
| AvaTrade | City Index | |
|---|---|---|
| Overall Pros | Highly regulated broker, licenced on the territory of 5 continents | a vast array of trading instruments |
| a wide range of trading instruments | both floating and fixed spreads are available to users | |
| Swap-free account | MetaTrader 4 terminal is provided for trading, as well as a web terminal and mobile applications | |
| Advanced copy trading tools | ||
| A lot of educational content | ||
| Low fees | ||
| Optioins trading | ||
| Overall Cons | customer service efficiency and response time | the trading platform periodically malfunctions |
| There is no ECN account | shortage of deposit/withdrawal methods | |
| Market maker(dealing desk) type of broker | a broker can reject an application regarding opening a trading account if the user does not have enough trading experience or his starting capital is not sufficient for trading |
AvaTrade vs City Index: Safety and Regulation
| Regulated By: | AvaTrade | City Index |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
Central Bank of Ireland (No.C53877), B.V.I Financial Services Commission, South African Financial Sector Conduct Authority (FSCA No.45984), Japan - Financial Services Agency (License No.: 1662), the Financial Futures Association of Japan (License No.: 1574), Abu Dhabi Global Markets (ADGM), Israel Securities Authority (No. 514666577) |
No |
AvaTrade vs City Index: Trading Conditions
| Trading Conditions | AvaTrade | City Index |
|---|---|---|
Minimum Deposit |
$100 |
$100 |
Trading Platforms |
MT4, MT5, AvaTradeGo, AvaOptions |
MT4 |
Max Leverage (Futures) |
1-400 |
1-100 |
Supported Markets |
Currency pairs, Forex Options, CFDs on stocks, cryptocurrencies, indices, metals, commodities |
Forex, CFDs on stocks, indices, commodities, metals, cryptocurrencies |
Trading assets |
100+ |
300+ |
Trading Accounts |
Standard, Professional account |
Real, demo |
Base Account Currencies |
EUR, USD |
USD, EUR, GBP |
AvaTrade vs City Index: Fees
Forex Trading Fees
| Fee | AvaTrade | City Index |
|---|---|---|
Standard Account EURUSD Average Spread |
0.9 pips |
0.5 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
Not supported |
ECN Account EUR Average Spread |
Not supported |
Not supported |
CFD Trading Fees
| Fee | AvaTrade | City Index |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | AvaTrade | City Index |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
$50 per quarter after 3 months of inactivity |
$15 per month after 24 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
AvaTrade vs City Index: Trading Assets
| Asset Name | AvaTrade | City Index |
|---|---|---|
Overall |
1000+ |
300+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
No |
Bonds |
Yes (CFD) |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
AvaTrade or City Index: Investment Programs
| Asset Name | AvaTrade | City Index |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
Yes |
No |
Other |
Bonds |
No |
Trading Platforms: City Index or AvaTrade
| AvaTrade | City Index | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
AvaTradeGo, AvaOptions |
No |
Others |
No |
No |
|
|
AvaTrade vs City Index: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | AvaTrade | City Index |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for Australian and EU clients) |
No |
Crypto |
No |
No |
AvaTrade vs City Index: Research
| Research Type | AvaTrade | City Index |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
AvaTrade vs City Index: Education
| Education Type | AvaTrade | City Index |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
City Index vs AvaTrade: Support
| Support Features | AvaTrade | City Index |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
AvaTrade vs City Index: Forex Bonuses and Promo
| Promo | AvaTrade | City Index |
|---|---|---|
Forex Bonus |
The broker offers its customers a one-time bonus upon first deposit (not for all markets) |
No |
Affiliate Program |
A trader can receive up to 400 US dollars for inviting friends. |
For each invited client, a trader can receive from $150 to $650 |
Other Promos |
No |
|
|
|
Top 5 Reviews on City Index
-
Comment
There is no promised fast fulfillment. Rather, it disappeared after a day of successful trading. Now the execution takes from 3000 to 5000 ms, and the connection has nothing to do with it. Technical support says nonsense intelligible. This practice is used in all kitchens of this type.
-
Comment
These are scammers! Not only is the money withdrawn for a very long time and there are always only replies, but the money also disappears from the account. Apparently, things are really bad in City Index and in this way they are trying to earn money. Do not mess with this broker!
-
Comment
Broker City Index chose in the first place because it is one of the oldest companies that operate in the financial markets. In addition, it is accredited by the FCA, which, unlike some offshore firms, not only collects money for issuing a license, but also exercises strict supervision over the activities of controlled companies. I started trading on the usual Metatrader 4, as I was sure that the author's platforms were not suitable for conducting a full-fledged technical analysis. But for the sake of interest on a demo account, I tried to open a couple of deals on At Pro from City Index specialists. Now I work only on this terminal. Simple interface, many tools. Free trading signals are very helpful.
-
Comment
Look before you leap, but having leapt never look back. It's the same with City Index: there's nothing to do here for beginners. The more assets and settings on trading platforms, the more likely you are to get confused and lose everything. The experienced folks here have something to play with. It is good for gaining experience with different markets, but it is still controversial for constant trading. Let's see how the broker will show itself with the withdrawal of funds.
-
Comment
I'm quite happy with the conditions in the City Index. All the tools are there, there were no questions with the replenishment and withdrawal yet, which is important. I also did not observe any sudden price changes. But there’s a problem with the payment systems... I want more of them. I want updates also - maybe for investment programs, for example. It always gets annoying if the broker doesn’t try to be a better version of itself. I hope that City Index is not the type, but just in case I don’t keep all of my assets here.
Top 5 Reviews on AvaTrade
-
Comment
I decided to test the waters with AvaTrade by using their demo account, and I must say, the experience was quite good. It helped me get familiar with the platform and how trading works. Now, I'm considering transitioning to a real account. However, my final verdict hinges on how smooth the deposit and withdrawal processes are. If these aspects meet my expectations, AvaTrade will definitely earn a 5-star rating from me. Otherwise, it might drop to 3 or 4 stars. Nonetheless, I appreciate the overall experience and commend the team for their efforts.
-
Comment
Been using AvaTrade for a few weeks now, and I'm happy with the support they offer. They have a couple different ways to get help, which is convenient. There's an AI-powered chatbot that can answer basic questions, and you can also contact them via WhatsApp. That's pretty cool for quick inquiries. If you have a more complex issue, you can email their customer support team. They got back to me pretty quickly with a helpful answer when I had a question about withdrawal options. However, it would be even better if you could connect directly with a customer service rep through the chatbot. Right now, it just directs you to email if your question is complex. A live chat option would be nice too, for those times when you need help right away. Overall, AvaTrade's customer support is good, with multiple ways to get help. Just wish there was a more direct way to connect with a rep through the chatbot.
-
Comment
I mostly use AvaTrade for long-term stock investing, not day trading. Their fees seem reasonable for that, and they have a good selection of stocks to choose from. Can't speak for the other features like CFDs or options, but for basic stock investing, AvaTrade seems like a decent option. AvaTrade's mobile app is handy for checking on trades on the go, but it could be smoother. Sometimes it takes a while to load charts and info, which can be frustrating. Also, placing trades on the app feels a bit clunky compared to the desktop platform. Would be nice if they updated the app to be more user-friendly.
-
Comment
While trading with AvaTrade, there was one incident. I opened a trade on the USD/CAD currency pair. The trading was going smoothly, and there were no important news releases. Suddenly, there was a sharp market movement that hit my stop-loss. The movement was 29 pips. Later, everything returned to normal, but I incurred a loss. Over the course of a month, I pursued the review of my claim and the cancellation of the losing trade. The company canceled the losing trade, acknowledging such movement as outside of the market. Overall, with AvaTrade, you can fight for and defend your rights.
-
Comment
I requested a withdrawal from Avatrade at the end of the day and received my funds the next afternoon without delay or difficulty. I was pleasantly surprised by the speed of the transaction, especially considering that some companies delay payments for several months. Moreover, I make good profits from my trades on the Avatrade platform, which works flawlessly.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.