Understanding City Index EUR/USD spreads
Are you looking to trade the EUR/USD? Making sure your broker's spread is competitive should be as self-evident as checking menu prices in a restaurant.
The spreads for EUR/USD are high at City Index. But before you close the books on City Index, check commissions and financing rates to get the full picture. We looked at all these and found that forex trading fees at City Index are low.
We've thoroughly tested City Index's services and we put our money where our mouth is: made real trades with actual money. After looking closely at their platform (and consuming way too much coffee in the process), here's what we think you absolutely need to know:
- The EUR/USD spread is 1.1 at City Index versus the market average of 0.59
- Keep an eye on two key costs that can drain your profits: commissions and financing rates
- Always check the non-trading fees, which at City Index are average
- See how City Index stacks up against our selection of the lowest EUR/USD spread brokers or head over to our FX fee calculator - it's smarter than you think
70% of retail CFD accounts lose money
City Index's EUR/USD spreads: room for improvement
So how do forex spreads work? They're actually not that different from what you'd see at an airport money exchange booth. The 'We buy' quotes you see on the screen are the equivalent of 'bid' prices on the forex market; and those in the 'We sell' column are the same as 'ask' prices. The difference between the two is what the money changer earns for providing the service.
For every FX trade you make (be it EUR/USD or any other currency pair), you will need to pay this cost, which is also known as the bid-ask spread or buy-sell spread. This is how brokers earn money on the spread:
- They pass on the raw market spread (typically meaning narrower spreads) but then add their own little markup (usually in the form of a commission).
- They offer their own spread, which already includes their fees. In this model, the spread tends to be higher/wider.
At City Index the EUR/USD spread is 1.1 while the average spread is 0.59 for the same currency pair at over 50 brokers reviewed by BrokerChooser.
We compared broker spreads using Raw accounts where available, otherwise using Standard accounts for our analysis.
Two more thing about spreads: at most brokers the size of your trade will affect the spread. The larger your trade, the wider the spread wil be, especially if there isn't ample liquidity in the market. In addition, spreads tend to widen during off-peak trading hours when market activity is lower.
You can check the current price of the EUR/USD currency pair in the chart below.
Study this table for forex spreads charged by City Index for major currency pairs.
Currency pair | Spread | Low / Average / High |
---|---|---|
EURUSD | 1.1 | High |
GBPUSD | 2.0 | High |
AUDUSD | 1.1 | Average |
EURCHF | 2.4 | High |
EURGBP | 1.6 | High |
Data updated on January 30, 2025
You've surely come across 'zero-spread brokers' that claim there's no difference between buy and sell prices (0 pip spread) on forex pairs or other instruments if you trade with them. The thing is, though, that true 0 spreads can't really exist in real markets all the time. What these brokers do is they simply absorb the market spread and charge you differently, usually through commissions or other hidden costs.
Bottom line: read the fine print as you will most probably face hidden costs.
Meet your profit's enemies: commission and overnight fees
Lower spreads are obviously awesome for your wallet. But before you start celebrating tight spreads, we need to talk about commissions.
Some brokers have super-slim spreads but add a commission to each trade, while others pack everything into a wider spread. The real pro move? Grab your calculator (or let's be real, your phone) and crunch those numbers before committing.
Does City Index charge a commission for trading EUR/USD?
No, there is no FX commission at City Index. All FX fees are built into the spread.
Check financing rates at your broker unless you're a day trader
Ever wonder what happens to your leveraged forex trades after you go to sleep (unless you closed your position the same day you opened it)? Enter financing rates (also known as swap rates or overnight rates). Think of it as the hotel room rate you pay when visiting a place for a few days rather than just going on a day trip.
If you trade on a very short time horizon (i.e. scalping or intraday trading), the spread will be your most important consideration and you won't need to worry about financing rates. If, however, you're holding onto a trade overnight, your broker's either charging you or paying you interest, depending on which currency you're buying or selling. Pro tip: these rates can add up fast, so keep an eye on them if you're planning to hold positions longer than a day.
Here's our verdict on EUR/USD financing rates at City Index based on a comparison of more than 50 global brokers: City Index has low financing rates for this currency pair.
Look at non-trading fees and service features to get the full picture
Just when you thought you had all these forex fees figured out, our analysts (who've made more trades than we care to count) have some extra wisdom to share: keep an eye out for 'non-trading fees' such as deposit costs and withdrawal fees (yes, you sometimes need to pay to get your own money back), and other conditions like minimum deposit requirements.
We have packed all these details and more into one table below. After all, life's too short to spend hours clicking through broker websites.
Brokerage fees and service highlights at City Index
💸 Minimum deposit | $0 |
💰 Deposit fee | $0 |
💰 Withdrawal fee | $0 |
💳 Deposit methods | Bank transfer, Credit/debit cards, PayPal |
💸 Account base currency | EUR, GBP, USD, PLN, CHF |
🗺️ Country of regulation | UK, Australia, Singapore, Canada, Cyprus, USA, Cayman Islands, Hong Kong, Japan |
🎮 Demo account provided | Yes |
📋 Read more | Check out our City Index review for 2025 |
Looking for the lowest EUR/USD spread FX brokers?
Done with paying too much for your EUR/USD trades? Same here! So we rounded up the absolute champions of low-spread EUR/USD trades. We've tracked down fully reliable brokers that won't eat up your profits with hefty fees and which offer excellent service on all fronts.
If you are ready to level up your forex game, check out our handpicked collection of the lowest EUR/USD spread brokers.
Want to know where to get the tightest spreads and best fees for any forex trade? You must see our forex fee calculator, it'll blow your mind. Go ahead and put it to the test, don't just take our word for it.
Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.
Further reading
- Bid-ask spread - Learn what it is and why it is important
- City Index forex spreads explained
- Is the GBP/USD spread low at City Index?
- Forex trading at City Index: Discover the key features and highlights
Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.