The best alternatives to City Index are
Let's see in a bit more detail how the City Index alternatives compare to City Index and each other:
| City Index | IG | XTB | Plus500 | |
|---|---|---|---|---|
| Overall score | 4.6 | 4.5 | 4.6 | 4.3 |
| Fees score | 3.8 stars | 2.7 stars | 3.7 stars | 2.9 stars |
| Account opening score | 5.0 stars | 4.4 stars | 5.0 stars | 5.0 stars |
| Deposit and withdrawal score | 4.3 stars | 4.5 stars | 4.5 stars | 5.0 stars |
| Web platform score | 4.3 stars | 5.0 stars | 4.4 stars | 4.4 stars |
| Markets and products score | 2.0 stars | 4.0 stars | 2.8 stars | 1.9 stars |
|
Open account
73% of retail CFD accounts lose money |
Open account
75% of retail CFD accounts lose money |
Open account
82% of retail CFD accounts lose money |
Open account
76.4% of retail CFD accounts lose money |
Why are these brokers considered good alternatives to City Index? There are many areas based on which City Index can be compared with others. When we say a given online broker is a good alternative to City Index we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
City Index alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- City Index is recommended for forex and cfd traders looking for low forex fees and great research tools
- IG is recommended for traders of any experience level looking for an easy-to-use trading platform
- XTB is recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
- Plus500 is recommended for experienced traders looking for an easy-to-use platform and a great user experience
Important factors of finding City Index alternatives
So far BrokerChooser has reviewed 79 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether City Index or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. City Index is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost City Index alternative.
Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At City Index this is not a problem as you can have it ready on the same day you registered.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at City Index, this might not be the case at its alternatives.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given City Index alternative is a must.
Now let's dive into the details of how City Index and its alternatives perform in the most important areas!
City Index alternatives
City Index
City Index is a global CFD and FX broker that was founded in 1983. City Index is the trading brand of GAIN Capital, which is listed on the New York Stock Exchange. The company is regulated by top-tier financial authorities, such as the UK's Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC) and the Monetary Authority of Singapore (MAS).
City Index is considered safe because it has a long track record, it is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex and cfd traders looking for low forex fees and great research tools
| Pros | Cons |
|---|---|
| • Low fees for forex | • Limited product portfolio |
| • Fast and smooth account opening | • High stock CFD fees |
| • Diverse research tools | • Non-user-friendly desktop platform |
Fees
City Index has low fees for forex and there is no withdrawal fee. On the other hand, stock CFD fees are high and there is an inactivity fee after one year.
| Pros | Cons |
|---|---|
| • Low forex fees | • Inactivity fee |
| • No withdrawal fee | • High stock CFD fees |
| City Index | IG | XTB | Plus500 | |
|---|---|---|---|---|
| S&P 500 index CFD fee | $1.2 | $1.2 | $1.4 | $2.3 |
| Europe 50 index CFD fee | $1.9 | $1.6 | $1.8 | $2.9 |
| EURUSD benchmark fee | $6.3 | $17.3 | $8.3 | $11.8 |
| GBPUSD benchmark fee | $5.5 | $11.9 | $6.0 | $9.6 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stock and $20k for FX
Account opening
City Index's account opening process is fully digital and there is no minimum deposit. It took one day for us to get the account approved.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| City Index | IG | XTB | Plus500 | |
|---|---|---|---|---|
| Minimum deposit | $100 | $0 | $0 | $100 |
| Time to open account | 1 day | 1-3 days | 1 day | 1 day |
Learn more about City Index minimum deposit here.
Deposit and withdrawal
City Index provides multiple deposit and withdrawal options, all free of charge. However, withdrawal is not possible with some credit cards.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Problem with credit card withdrawal |
| • Free withdrawal | |
| • No deposit fee |
| City Index | IG | XTB | Plus500 | |
|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | No | Yes |
| Electronic wallets | Yes | Yes | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 |
Web trading platform
City Index's web trading platform is user-friendly and extremely customizable, with lots of order types. On the negative side, there is no two-step login.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | |
| • Good variety of order types |
| City Index | IG | XTB | Plus500 | |
|---|---|---|---|---|
| Web platform score | 4.3 stars | 5.0 stars | 4.4 stars | 4.4 stars |
| Mobile platform score | 4.3 stars | 5.0 stars | 4.4 stars | 4.9 stars |
| Desktop platform score | 3.0 stars | - | 4.4 stars | - |
Learn more about City Index's web trading platform in the detailed City Index review.
Markets and products
At City Index, you can only trade with CFDs, forex, and cryptos. Other asset classes, like real stocks or funds, are not available.
| City Index | IG | XTB | Plus500 | |
|---|---|---|---|---|
| Stock | No | Yes | Yes | No |
| ETF | No | Yes | Yes | No |
| Forex | Yes | Yes | Yes | No |
| Fund | No | No | No | No |
| Bond | No | No | No | No |
| Options | No | Yes | No | No |
| Futures | No | No | No | No |
| CFD | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | No |
Verdict
City Index is a great CFD and forex broker regulated by top-tier financial authorities, such as the UK's FCA.
On the positive side, it has low forex fees, a smooth account opening process, and high-quality research tools.
It has some drawbacks though. The product portfolio is limited, stock CFD fees are quite high and the desktop platform lags behind its competitors.
As there is no minimum balance required, no withdrawal fee and an inactivity fee only kicks in after one year, feel free to try City Index.
| City Index | |
|---|---|
| Summary | City Index is a global CFD broker, regulated by many financial authorities including the top-tier UK FCA. Its parent company, GAIN Capital is listed on the New York Stock Exchange. |
| Fees score | 3.8 stars |
| Recommended for | Forex and CFD traders looking for low forex fees and great research tools |
City Index alternatives
IG
IG was established in the UK in 1974 and is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the UK's Financial Conduct Authority (FCA) and Germany's Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.
IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.
Recommended for traders of any experience level looking for an easy-to-use trading platform
| Pros | Cons |
|---|---|
| • First-class web trading platform | • High forex and stock CFD fees |
| • Superb educational tools | • Limited product portfolio |
| • Great deposit and withdrawal options | • Slow customer support |
Fees
IG has low non-trading fees. There is no fee for withdrawals and an inactivity fee is charged only after 2 years. On the negative side, the forex and stock CFD fees are high.
| Pros | Cons |
|---|---|
| • No withdrawal fee | • High forex fees |
| • Inactivity fee charged only after 2 years | • High stock CFD trading fees |
| IG | City Index | |
|---|---|---|
| Apple benchmark fee | $31.3 | $21.3 |
| Vodafone benchmark fee | $27.6 | $27.6 |
| EURUSD benchmark fee | $17.3 | $6.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
IG's account opening is seamless and fully digital. There is no minimum deposit for bank transfers and a low, $/€300 minimum deposit for credit/debit cards and PayPal. On the other hand, account verification takes around 3 business days, which is slower than at some other brokers.
| Pros | Cons |
|---|---|
| • Fully digital | • Slower account opening |
| • Low minimum deposit | |
| • No minimum deposit for bank transfer |
| IG | City Index | |
|---|---|---|
| Minimum deposit | $0 | $100 |
| Time to open account | 1-3 days | 1 day |
If you are interested more in IG minimum deposit, this overview will help you.
Deposit and withdrawal
IG offers free and fast deposits and withdrawals. There are various options for funding your account, including traditional methods such as bank wire transfer and credit card funding, as well as PayPal.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | None |
| • Free withdrawal | |
| • No deposit fee |
| IG | City Index | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
IG's web trading platform is great for both beginners and professional traders. It is easy to use, has all the necessary functions and can be customized.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Two-step (safer) login |
| IG | City Index | |
|---|---|---|
| Web platform score | 5.0 stars | 4.3 stars |
| Mobile platform score | 5.0 stars | 4.3 stars |
| Desktop platform score | - | 3.0 stars |
Learn more about IG's web trading platform in the detailed IG review.
Markets and products
At IG, most clients can only trade with CFDs, forex and options. There are literally thousands of CFDs available to trade. Residents in the UK and some other countries can also trade with real stocks. Other popular assets, however, like mutual funds and bonds, are not available.
| IG | City Index | |
|---|---|---|
| Stock | Yes | No |
| ETF | Yes | No |
| Forex | Yes | Yes |
| Fund | No | No |
| Bond | No | No |
| Options | Yes | No |
| Futures | No | No |
| CFD | Yes | Yes |
| Crypto | Yes | Yes |
Verdict
IG is one of the biggest and most reliable CFD brokers. It is regulated by several financial authorities around the world. IG Group is listed on the London Stock Exchange.
IG has one of the best web trading platforms BrokerChooser has tested. The deposit and withdrawal conditions are great. You can also expand your knowledge with great educational materials.
On the other hand, there are some drawbacks. The forex and stock CFD fees are high and the product portfolio in most countries is limited to forex, CFDs and options. Customer support could be better.
Feel free to test IG's first-class trading platform, since there is no minimum funding amount for bank transfers and you can also easily open a demo account.
| IG | |
|---|---|
| Summary | IG is a CFD and forex broker. It is listed on the London Stock Exchange and regulated by several authorities globally, including the top-tier FCA. |
| Fees score | 2.7 stars |
| Recommended for | Traders of any experience level looking for an easy-to-use trading platform |
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City Index alternatives
XTB
XTB is a global CFD and forex broker with headquarters in London and Warsaw, founded in 2002. The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority (FCA). In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to disclose its financials.
XTB is considered safe because it has a long track record, is listed on a stock exchange, and publishes its financial statements transparently.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
| Pros | Cons |
|---|---|
| • Low forex fees | • High fees for stock CFDs |
| • Free and fast deposit and withdrawal | • Product portfolio limited mostly to CFDs and FX |
| • Easy and fast account opening | • Limited fundamental data |
Fees
XTB has low forex fees and there is no withdrawal fee for most transfers. On the other hand, stock CFD fees are high, and XTB also charges an inactivity fee.
| Pros | Cons |
|---|---|
| • Low forex fees | • High stock CFD fees |
| • Free withdrawal for transfers above $100 |
| XTB | City Index | |
|---|---|---|
| Apple benchmark fee | $17.3 | $21.3 |
| Vodafone benchmark fee | $20.8 | $27.6 |
| EURUSD benchmark fee | $8.3 | $6.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
XTB's account opening process is hassle-free, straightforward and fully digital. Your account will be ready for trading on the same day.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| XTB | City Index | |
|---|---|---|
| Minimum deposit | $0 | $100 |
| Time to open account | 1 day | 1 day |
If you are interested more in XTB minimum deposit, this overview will help you.
Deposit and withdrawal
XTB deposits and withdrawals are fast, mostly free, and can be done via several channels.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Few minor account currencies accepted |
| • Free withdrawal | |
| • No deposit fee |
| XTB | City Index | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | Yes |
| Electronic wallets | No | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, two-step login is not available.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | |
| • Good search function |
| XTB | City Index | |
|---|---|---|
| Web platform score | 4.4 stars | 4.3 stars |
| Mobile platform score | 4.4 stars | 4.3 stars |
| Desktop platform score | 4.4 stars | 3.0 stars |
Learn more about XTB's web trading platform in the detailed XTB review.
Markets and products
XTB's default product selection includes only CFDs, forex and crypto. Some European clients can also trade real stocks and ETFs. Popular asset classes like bonds, mutual funds, options and futures are not available.
| XTB | City Index | |
|---|---|---|
| Stock | Yes | No |
| ETF | Yes | No |
| Forex | Yes | Yes |
| Fund | No | No |
| Bond | No | No |
| Options | No | No |
| Futures | No | No |
| CFD | Yes | Yes |
| Crypto | Yes | Yes |
Verdict
XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA. The company is listed on the Warsaw Stock Exchange.
On the plus side, its forex fees are low, and the deposit and withdrawal process is fast and mostly free. We also liked the seamless and hassle-free account opening process.
XTB has some drawbacks, though. Stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading are available in some European countries. Fundamental data offered by XTB covers only a few basics such as P/E.
We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options along with fast account opening. Feel free to test it using a demo account.
| XTB | |
|---|---|
| Summary | XTB is a global CFD and forex broker, listed on the Warsaw Stock Exchange and regulated by financial authorities including the UK FCA, Poland's KNF, and Cyprus's CySec. |
| Fees score | 3.7 stars |
| Recommended for | Forex and CFD traders looking for low fees and great deposit/withdrawal service |
City Index alternatives
Plus500
Plus500 is a London Stock Exchange-listed global CFD broker that was founded in 2008 in Israel. It is regulated by several international financial authorities, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
Plus500 is considered secure because it is listed on a stock exchange, discloses its financials and is regulated by several top-tier financial authorities.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Disclaimer for daytraders: At Plus500, scalping is defined as "A trading strategy based on the notion that client transactions are opened and closed within 2 minutes limit in order to accumulate quick profits from small price changes." If Plus500 believes you were following this strategy, your account might be blocked and closed. Therefore, if you plan to execute trades within 2 minutes, Plus500 is not your broker.
Recommended for experienced traders looking for an easy-to-use platform and a great user experience
| Pros | Cons |
|---|---|
| • Easy-to-use platform | • Limited product range, only CFDs |
| • Great account opening | • Minimal research tools |
| • Quick and helpful customer support | • Mediocre educational section |
Fees
Plus500 has favorable withdrawal conditions: the first five withdrawal in each month is free of charge. However, the trading fees are average and there is an inactivity fee charged.
| Pros | Cons |
|---|---|
| • First five withdrawals are free of charge | • Inactivity fee |
| Plus500 | City Index | |
|---|---|---|
| Apple benchmark fee | $13.5 | $21.3 |
| Vodafone benchmark fee | $10.3 | $27.6 |
| EURUSD benchmark fee | $11.8 | $6.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Plus500 account opening is seamless, fast and fully digital. You can open your trading account within a day.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| Plus500 | City Index | |
|---|---|---|
| Minimum deposit | $100 | $100 |
| Time to open account | 1 day | 1 day |
If you are interested more in Plus500 minimum deposit, this overview will help you.
Deposit and withdrawal
Plus500's deposit and withdrawal services are both great. You have many options, the process is simple and usually free of charge.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | None |
| • No deposit fee | |
| • Five withdrawals per month free |
| Plus500 | City Index | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
The Plus500 trading platform is quite easy to use and also looks great. On the negative side, it cannot be customized.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Plus500 | City Index | |
|---|---|---|
| Web platform score | 4.4 stars | 4.3 stars |
| Mobile platform score | 4.9 stars | 4.3 stars |
| Desktop platform score | - | 3.0 stars |
Learn more about Plus500's web trading platform in the detailed Plus500 review.
Markets and products
At Plus500 you can trade only with CFDs (forex, stock index, stock, ETF, commodity and crypto). Many popular asset classes, like real stocks or ETFs, are not available.
| Plus500 | City Index | |
|---|---|---|
| Stock | No | No |
| ETF | No | No |
| Forex | No | Yes |
| Fund | No | No |
| Bond | No | No |
| Options | No | No |
| Futures | No | No |
| CFD | Yes | Yes |
| Crypto | No | Yes |
Verdict
Plus500 is a good CFD broker. It is recommended for traders who are aware of the risks of CFD trading. The broker is regulated by several financial authorities globally, including the UK's FCA, and is listed on the London Stock Exchange. If you are not from the UK, you will most likely be served by alternative regulators, like Plus500 Cyprus. In this case, for example, the Cypriot investor protection would apply to you.
Attention Daytraders! At Plus500, scalping is defined as "a trading strategy based on the notion that client transactions are opened and closed within 2 minutes limit in order to accumulate quick profits from small price changes." If Plus500 believes you are scalping, your account may be blocked and closed. Therefore, if you plan to execute many trades within 2 minutes, Plus500 is not your broker.
The Plus500 platform is easy to use, providing a great user experience even for first-timer. The account opening and customer support work well.
On the other hand, CFDs are the only product offered, and there are limited research and educational tools.
As there is no minimum balance required, no withdrawal fee for withdrawals of over $100, and the inactivity fee only kicks in after three months, feel free to give Plus500 a try.
| Plus500 | |
|---|---|
| Summary | Plus500 is a global CFD broker, listed on the London Stock Exchange's Main Market and regulated by many authorities including the UK FCA and CySEC of Cyprus. |
| Fees score | 2.9 stars |
| Recommended for | Experienced traders looking for an easy-to-use platform and a great user experience |
City Index alternatives
Bottom line
Based on our analysis, there are several good alternatives to City Index. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| City Index | Global CFD and forex broker | Forex and CFD traders looking for low forex fees and great research tools |
| IG | Global CFD and forex broker | Traders of any experience level looking for an easy-to-use trading platform |
| XTB | Global CFD and forex broker | Forex and CFD traders looking for low fees and great deposit/withdrawal service |
| Plus500 | Global CFD broker | Experienced traders looking for an easy-to-use platform and a great user experience |
Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.
