FXTRADING vs City Index - Fees Review included
Which broker is better FXTRADING or City Index? Our expert assessment conducted according to TU’s own methodology showed that FXTRADING is one of the top brokers in the financial market with the TU Overall Score of 5.4 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 | FXTRADING | City Index |
|---|---|---|
Overall |
3.9 |
3.9 |
3.9 |
4.5 |
|
4 |
4.7 |
|
4.2 |
4.2 |
|
Investment Instruments |
3.5 |
1 |
Platforms and Charting Tools |
4.2 |
3.7 |
Deposit and Withdrawal |
3.8 |
4.0 |
Research |
4.3 |
4.0 |
Education |
3.7 |
4.5 |
Support |
3.5 |
4.5 |
Bonuses |
2.1 |
3.8 |
FXTRADING vs City Index: Pros and Cons
FXTRADING.com is headquartered in Sydney, Australia. It is duly authorized and supervised by one of the most trustworthy Australian regulatory bodies - ASIC. FXTRADING.com is a highly reliable partner in the Forex market. FXTRADING.com operates from Australia due to the country’s strong financial, economic, and political foundation. Professional traders and investors from all over the world value FXTRADING.com for its convenient and secure trading environment.
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
| FXTRADING | City Index | |
|---|---|---|
| Overall Pros | Raw Spreads & Low Commissions | a vast array of trading instruments |
| Australian Owned & ASIC Regulated | both floating and fixed spreads are available to users | |
| Up To 500 to 1 Leverage Available | MetaTrader 4 terminal is provided for trading, as well as a web terminal and mobile applications | |
| No Deposit or Withdrawal Fees | ||
| Overall Cons | Support is not 24/7. | the trading platform periodically malfunctions |
| shortage of deposit/withdrawal methods | ||
| 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 |
FXTRADING vs City Index: Safety and Regulation
| Regulated By: | FXTRADING | City Index |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
VFSC |
No |
FXTRADING vs City Index: Trading Conditions
| Trading Conditions | FXTRADING | City Index |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$100 |
Trading Platforms |
Desktop MT4, Mobile MT4, Web Trader MT4, MT5, IRESS |
MT4 |
Max Leverage (Futures) |
1-500 |
1-100 |
Supported Markets |
Forex Currency Pairs, Commodities, CFDs on Indices, Spot Metals, Share CFDs, Energies, Crypto CFDs |
Forex, CFDs on stocks, indices, commodities, metals, cryptocurrencies |
Trading assets |
2266+ |
300+ |
Trading Accounts |
Alpha Account, Standard Account |
Real, demo |
Base Account Currencies |
AUD, USD, EUR, GBP, SGD, NZD, CAD |
USD, EUR, GBP |
FXTRADING vs City Index: Fees
Forex Trading Fees
| Fee | FXTRADING | City Index |
|---|---|---|
Standard Account EURUSD Average Spread |
1.5 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 | FXTRADING | City Index |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | FXTRADING | City Index |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
$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.
FXTRADING vs City Index: Trading Assets
| Asset Name | FXTRADING | City Index |
|---|---|---|
Overall |
2266+ |
300+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
FXTRADING or City Index: Investment Programs
| Asset Name | FXTRADING | City Index |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
Algorithmic trading |
No |
Trading Platforms: City Index or FXTRADING
| FXTRADING | City Index | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
IRESS |
No |
FXTRADING vs City Index: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FXTRADING | City Index |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
No |
No |
FXTRADING vs City Index: Research
| Research Type | FXTRADING | City Index |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
FXTRADING vs City Index: Education
| Education Type | FXTRADING | City Index |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
City Index vs FXTRADING: Support
| Support Features | FXTRADING | City Index |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
FXTRADING vs City Index: Forex Bonuses and Promo
| Promo | FXTRADING | City Index |
|---|---|---|
Forex Bonus |
Up to 25% Cover-Up for your losses of initial deposit; Up to $600 Trading bonus to empower your trading; 10% Upfront awarded trading credit; |
No |
Affiliate Program |
The multi tier affiliate program |
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 FXTRADING
-
Comment
I opened an account with FXTRADING.com in early 2019 and continue to trade here today. The trading conditions fully satisfy me. I haven't encountered any issues with the company. I use a classic account with a floating spread. It's possible to trade actively, as FXTRADING.com doesn't restrict strategies.
-
Comment
This is an ordinary company suitable for trading. It’s not the only one suitable, but also not a bucket shop, there is no lie. The regulations are normal, trades are not canceled. Slippages are moderate and spreads are average for the industry. Trading at FXTRADING.com is completely possible.
-
Comment
I have been working with FXTRADING.com for 5 years. I read reviews about it and I can say that there cannot be similar opinions. It is worth reading reviews about any company and you will find both positive and negative ones. There are as many opinions as there are people. The main thing is your own experience! In 5 years of trading at FXTRADING.com I have had almost no problems, you can work, you just need to be smarter.
-
Comment
These scammers from FXTRADING.com blocked my user account. After I started arguing with them because they disabled my advisor, I submitted a request to withdraw my entire deposit, and they blocked access to my user account. They wrote that they would investigate the case, saying there was a suspicion that I was trading dishonestly. But FXTRADING.com has all the data on how I traded. I cannot interfere with the operation of the platform. I conclude that this is a fraud.
-
Comment
Unfortunately, I encountered FX trading.com. I have repeatedly observed unreasonable spread widening and wild requotes. Never before have I heard of such problems from other traders who work with other companies. I traded with FX trading.com for six months and that was enough for me.
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!