The best alternatives to City Index are
- IG - Global CFD and FX broker
- Plus500 - Global CFD and FX broker
- XTB - Global CFD and FX broker
- Plus500 - Global CFD and FX broker
Let's see in a bit more detail how the City Index alternatives compare to City Index and each other:
| City Index | IG | Plus500 | XTB | Plus500 | |
|---|---|---|---|---|---|
| Overall score | 4.4 | 4.5 | 4.4 | 4.5 | 4.4 |
| Fees score | |||||
| Account opening score | |||||
| Deposit and withdrawal score | |||||
| Web platform score | |||||
| Markets and products score | |||||
| Visit broker | Visit broker | Visit broker | Visit broker | Visit broker |
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 cfd and forex traders looking for low forex fees and great research tools
- IG is recommended for traders with any experience level aiming for a great and easy-to-use trading platform
- Plus500 is recommended for experienced traders looking for an easy-to-use platform, with great user experience.
- XTB is recommended for forex and cfd traders looking for great funding and withdrawal processes and research tools
- Plus500 is recommended for experienced traders looking for an easy-to-use platform, with great user experience.
Important factors of finding City Index alternatives
So far Brokerchooser has reviewed 29 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. The amounts City Index charges you are considered average. When picking an alternative, you could prioritize brokers that are cheaper than City Index.
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, the account opening is slower than average, so if you consider this important some City Index alternatives can be a good choice.
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
City Index was founded in 1983 and it is a Global CFD and FX broker. It is regulated by top-tier regulators, like the UK FCA and the Australian ASIC.
City Index is considered safe because it has a long track record, its parent company is listed on stock exchange, and is regulated by top-tier regulators.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading 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 cfd and forex traders looking for low forex fees and great research tools
- Low forex fees
- Diverse and high-quality research tools
- Great customer support
- High stock CFD fees
- Limited product portfolio
- Not user-friendly desktop platform
City Index
Fees
3 stars
City Index has average trading and non-trading fees. Its financing rates are low.
- No withdrawal fee
- Low financing rate
- Inactivity fee
| City Index | IG | Plus500 | XTB | Plus500 | |
|---|---|---|---|---|---|
| Apple benchmark fee | $22.1 | $34.9 | $8.9 | $18.1 | $8.9 |
| Vodafone benchmark fee | $30.7 | $30.5 | $7.6 | $24.4 | $7.6 |
| EURUSD benchmark fee | $13.6 | $12.3 | $17.6 | $17.1 | $17.6 |
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
City Index
Account opening
4 stars
City Index account opening is fully digital and there is no minimum deposit. But, it can take more days.
- Fully digital account opening
- No minimum account balance
- Slow account opening
| City Index | IG | Plus500 | XTB | Plus500 | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $114 | $250 | $114 |
| Time to open account | >3 days | 1-3 days | 1 day | 1 day | 1 day |
Learn more about the City Index minimum deposit here.
City Index
Deposit and withdrawal
4 stars
City Index deposit and withdrawal are free and user-friendly. On the flip side, electronic wallets are missing and you cannot select your account currency.
- Credit/Debit card deposit and withdrawal
- Free withdrawal
- No deposit fee
- Missing electronic wallets
- Base currencies cannot be selected
| City Index | IG | Plus500 | XTB | Plus500 | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | Yes | Yes | Yes | No | Yes |
| Electronic wallets | No | No | Yes | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
City Index
Web trading platform
4 stars
City Index web trading platform is extremely customizable. It also has a lot of order types. On the flip side, there is no two-step login.
- User-friendly
- Clear fee report
- Good search function
- No two-step (safe) login
| City Index | IG | Plus500 | XTB | Plus500 | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - | - | - |
Learn more about City Index's web trading platform in the detailed City Index review.
City Index
Markets and products
2 stars
At City Index, you can trade only with CFDs, forex, and cryptos.
| City Index | IG | Plus500 | XTB | Plus500 | |
|---|---|---|---|---|---|
| Stock | No | Yes | No | Yes | No |
| ETF | No | Yes | No | Yes | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | No | No | No | No | No |
| Bond | No | No | No | No | No |
| Options | No | Yes | No | No | No |
| Futures | No | No | No | No | No |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | Yes |
#1 City Index alternative - IG
IG
IG was established in the UK in 1974 and is one of the biggest CFD providers in the world. It is regulated by several bodies globally, including top-tier authorities like the FCA. 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.
IG is primarily a CFD broker. If you are from the US, you can only trade with forex. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading 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. Forex trading involves risk. Losses can exceed deposits.
Best FX broker
Recommended for traders with any experience level aiming for a great and easy-to-use trading platform
- Easy-to-use web trading platform
- Helpful and reliable customer service
- Great deposit and withdrawal tools
- High trading fees
- Limited product portfolio
- Limited research tools
IG
Fees
2 stars
IG's trading fees are high and non-trading fees are average. Its financing rate is one of the best.
- Low financing rate
- Transparent fee structure
- High trading fees
- Inactivity fee
| IG | City Index | |
|---|---|---|
| Apple benchmark fee | $34.9 | $22.1 |
| Vodafone benchmark fee | $30.5 | $30.7 |
| EURUSD benchmark fee | $12.3 | $13.6 |
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
IG
Account opening
4 stars
The account opening process is fast, user-friendly, and fully digital. On the other hand, the sales team is quite pushy.
- Fast account opening
- Fully digital account opening
- No minimum deposit for bank transfer
- The sales team is quite pushy, prompting you regularly to fund your account
| IG | City Index | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | >3 days |
If you are interested more in IG minimum deposit, this overview will help you.
IG
Deposit and withdrawal
5 stars
You have several options to transfer money. The transfer process is user-friendly and fast.
- Credit/Debit card deposit and withdrawal
- Several account base currencies
- User-friendly
- Not transparent on available base currencies
| IG | City Index | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | Yes | Yes |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
IG
Web trading platform
5 stars
IG's web platform is great. It is easy to use, has all necessary functions and can be customized. Even first-time users can familiarize themselves with it instantly.
- User-friendly
- Two-step (safe) login
- Good search function
- Good customizability (for charts, workspace)
| IG | City Index | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score | - |
Learn more about IG's web trading platform in the detailed IG review.
IG
Markets and products
3 stars
At IG, most clients can only trade with CFDs, forex and options. There are literally thousands of CFDs available to trade. The UK and some other clients can also trade with shares.
| 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 |
#2 City Index alternative - Plus500
Plus500
Plus500 is a CFD broker, established in Israel. It is listed on the Main Market of the London Stock Exchange. Plus500 subsidiaries are authorized and regulated by different regulators, including top-tier regulators like the FCA from the UK.
Plus500 is considered safe because it is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.
Plus500 is a CFD and forex broker. 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Daytraders!: At Plus500 scalping is defined as "A trading strategy where a significant portion of the customer's positions are opened and closed by him/her within 2 minutes." 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, with great user experience.
- Easy to use platform
- Low spreads
- Listed on AIM section of the London Stock Exchange
- Limited product portfolio, only CFDs
- High financing rates
- Minimal research tools
Plus500
Fees
4 stars
Plus500 has low trading fees and average non-trading fees. Financing rates are very high.
- Low trading fees
- No withdrawal fee
- Inactivity fee
- High financing rate
- Financing rate calculation is non-transparent
| Plus500 | City Index | |
|---|---|---|
| Apple benchmark fee | $8.9 | $22.1 |
| Vodafone benchmark fee | $7.6 | $30.7 |
| EURUSD benchmark fee | $17.6 | $13.6 |
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
Plus500
Account opening
5 stars
Plus500 account opening is seamless, fast and fully digital. You can open your trading account within a day.
- Fast account opening
- Fully digital account opening
- User-friendly
| Plus500 | City Index | |
|---|---|---|
| Minimum deposit | $114 | $0 |
| Time to open account | 1 day | >3 days |
If you are interested more in Plus500 minimum deposit, this overview will help you.
Plus500
Deposit and withdrawal
5 stars
Plus500's deposit and withdrawal are both great. You have many options, the process is easy-to-do and usually free of charge.
- Credit/Debit card deposit and withdrawal
- No deposit fee
- User-friendly
- Five withdrawal per month is free
| Plus500 | City Index | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | Yes | Yes |
| Electronic wallets | Yes | No |
| Withdrawal fee | $0 | $0 |
Plus500
Web trading platform
4 stars
Plus500 trading platform is very easy-to-use and also looks great. On the flip side, it cannot be customized.
- User-friendly
- Two-step (safe) login
- Good search function
- Available in several languages
- Limited customizability (for charts, workspace)
| Plus500 | City Index | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score | - |
Learn more about Plus500's web trading platform in the detailed Plus500 review.
Plus500
Markets and products
2 stars
At Plus500 you can trade only with CFDs and forex. There are a lot CFDs, you can choose from almost 2,000.
| Plus500 | City Index | |
|---|---|---|
| Stock | No | No |
| ETF | No | No |
| Forex | Yes | Yes |
| Fund | No | No |
| Bond | No | No |
| Options | No | No |
| Futures | No | No |
| CFD | Yes | Yes |
| Crypto | Yes | Yes |
#3 City Index alternative - XTB
XTB
XTB is primarily a forex and CFD broker, while in some countries you can also trade with stocks. XTB is a global broker with more than ten offices worldwide. In Europe, it serves clients via a UK or a Polish entity. We tested the UK entity, but will provide info on all entities.
XTB is listed on the Warsaw Stock Exchange. A listed company is more transparent, as it discloses its financials regularly. XTB is authorized and regulated by different regulators, including a top-tier financial authority, the FCA.
XTB is considered safe because it is listed on a stock exchange, discloses its financials, and is regulated by a top-tier regulator.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs carry risk. 73-79% 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.
Best CFD broker
Recommended for forex and cfd traders looking for great funding and withdrawal processes and research tools
- Fast deposit and withdrawal
- Fast and user-friendly account opening
- Good research tools
- Limited product portfolio, mostly CFD and FX
- Sales team can be pushy
- No 24/7 customer support
XTB
Fees
4 stars
XTB has average trading fees and low non-trading fees.
- Low non-trading fees
- No withdrawal fee
- No inactivity fee
| XTB | City Index | |
|---|---|---|
| Apple benchmark fee | $18.1 | $22.1 |
| Vodafone benchmark fee | $24.4 | $30.7 |
| EURUSD benchmark fee | $17.1 | $13.6 |
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
XTB
Account opening
5 stars
XTB account opening is hassle-free and straightforward. Your account is ready for trading on the same day. However, the sales team is very pushy.
- Fast account opening
- Fully digital account opening
- User-friendly
- Sales team pushy
| XTB | City Index | |
|---|---|---|
| Minimum deposit | $250 | $0 |
| Time to open account | 1 day | >3 days |
If you are interested more in XTB minimum deposit, this overview will help you.
XTB
Deposit and withdrawal
5 stars
XTB's deposit and withdrawal are cost-friendly, fast, and can be done in several forms. Fees for electronic wallet deposits are quite high.
- Credit/Debit card deposit and withdrawal
- Quick funding and withdrawal -within 3 days
- User-friendly
- High fees for electronic wallet deposits
| XTB | City Index | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | Yes |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
XTB
Web trading platform
4 stars
XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, we missed the two-step login, the leverage setting option and the more sophisticated order types.
- User-friendly
- Good search function
- Good customizability (for charts, workspace)
- No two-step (safe) login
- Limited order types
| XTB | City Index | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score |
Learn more about XTB's web trading platform in the detailed XTB review.
XTB
Markets and products
2 stars
UK residents, Hungarians and non-Europeans can trade only with CFDs and forex. All other Europeans can also trade with stocks and ETFs.
| 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 |
#4 City Index alternative - Plus500
Plus500
Plus500 is a CFD broker, established in Israel. It is listed on the Main Market of the London Stock Exchange. Plus500 subsidiaries are authorized and regulated by different regulators, including top-tier regulators like the FCA from the UK.
Plus500 is considered safe because it is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.
Plus500 is a CFD and forex broker. 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Daytraders!: At Plus500 scalping is defined as "A trading strategy where a significant portion of the customer's positions are opened and closed by him/her within 2 minutes." 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, with great user experience.
- Easy to use platform
- Low spreads
- Listed on AIM section of the London Stock Exchange
- Limited product portfolio, only CFDs
- High financing rates
- Minimal research tools
Plus500
Fees
4 stars
Plus500 has low trading fees and average non-trading fees. Financing rates are very high.
- Low trading fees
- No withdrawal fee
- Inactivity fee
- High financing rate
- Financing rate calculation is non-transparent
| Plus500 | City Index | |
|---|---|---|
| Apple benchmark fee | $8.9 | $22.1 |
| Vodafone benchmark fee | $7.6 | $30.7 |
| EURUSD benchmark fee | $17.6 | $13.6 |
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
Plus500
Account opening
5 stars
Plus500 account opening is seamless, fast and fully digital. You can open your trading account within a day.
- Fast account opening
- Fully digital account opening
- User-friendly
| Plus500 | City Index | |
|---|---|---|
| Minimum deposit | $114 | $0 |
| Time to open account | 1 day | >3 days |
If you are interested more in Plus500 minimum deposit, this overview will help you.
Plus500
Deposit and withdrawal
5 stars
Plus500's deposit and withdrawal are both great. You have many options, the process is easy-to-do and usually free of charge.
- Credit/Debit card deposit and withdrawal
- No deposit fee
- User-friendly
- Five withdrawal per month is free
| Plus500 | City Index | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | Yes | Yes |
| Electronic wallets | Yes | No |
| Withdrawal fee | $0 | $0 |
Plus500
Web trading platform
4 stars
Plus500 trading platform is very easy-to-use and also looks great. On the flip side, it cannot be customized.
- User-friendly
- Two-step (safe) login
- Good search function
- Available in several languages
- Limited customizability (for charts, workspace)
| Plus500 | City Index | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score | - |
Learn more about Plus500's web trading platform in the detailed Plus500 review.
Plus500
Markets and products
2 stars
At Plus500 you can trade only with CFDs and forex. There are a lot CFDs, you can choose from almost 2,000.
| Plus500 | City Index | |
|---|---|---|
| Stock | No | No |
| ETF | No | No |
| Forex | Yes | Yes |
| Fund | No | No |
| Bond | No | No |
| Options | No | No |
| Futures | No | No |
| CFD | Yes | Yes |
| Crypto | Yes | Yes |
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 FX broker | CFD and forex traders looking for low forex fees and great research tools |
| IG | Global CFD and FX broker | Traders with any experience level aiming for a great and easy-to-use trading platform |
| Plus500 | Global CFD and FX broker | Experienced traders looking for an easy-to-use platform, with great user experience. |
| XTB | Global CFD and FX broker | Forex and CFD traders looking for great funding and withdrawal processes and research tools |
| Plus500 | Global CFD and FX broker | Experienced traders looking for an easy-to-use platform, with great user experience. |
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