FXChoice vs CityIndex Broker Comparison
Are you trying to figure out which is a better broker, FXChoice or CityIndex? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that CityIndex is the better of the two. CityIndex offers 4,500+ instruments, licenses from FCA, ASIC, and fair trading fees.
In the tables below, you can compare the features of FXChoice and CityIndex side by side, to work out which suits your trading needs best. You can also carry on reading to find out why our experts ranked CityIndex higher than FXChoice.
IFSC
FCA
ASICDoes FXChoice or CityIndex have lower trading costs and fees?
To compare the costs of trading at different brokers, our experts analyze both trading-specific fees, such as spreads, and non-trading fees, such as inactivity charges and payment costs.
To give an overall view of how cheap or expensive FXChoice and CityIndex are, we first considered the common fees on Standard Accounts. At FXChoice the average spread for the EUR/USD currency pair is 1.4 pips, whilst at CityIndex the spread is 0.5.
This shows that CityIndex is the better option for low-cost forex trading.
When it comes to non-trading fees, FXChoice charges for deposit, withdrawal. CityIndex charges for inactivity. With this in mind, CityIndex has lower non-trading fees.
When our experts analyzed the specific costs of both brokers, we found that FXChoice is the better option.
*Based on Standard account type.
Which broker is safer, FXChoice or CityIndex?
In order to decide how safe our top-rated brokers are, our experts look at a number of factors. This includes what licenses the broker holds and how reputable those licenses are. We also consider the history of the broker, as a long-standing broker is often more reliable and trustworthy than a newer one.
FXChoice is regulated by IFSC and does not offer client protection. CityIndex is regulated by FCA, ASIC and does not offer client protection.
Considering these two factors, and the general reputation and history of both brokers, we believe that CityIndex is the safer broker.
How many trading instruments are available at FXChoice and CityIndex?
FXChoice provides traders with 50+ instruments. This includes 36 currency pairs, 3 cryptocurrencies, and 0 stocks and shares. With FXChoice, you can also trade CFDs.
In comparison, CityIndex boasts 4,500+ tradable instruments. CityIndex offers 84 currency pairs, 5 cryptocurrencies, and 4,500 stocks and shares. CityIndex also allows CFD trading.
As CityIndex has 4,500+ and FXChoice has 50+, a difference of 46, this shows that CityIndex offers more opportunities to diversify your trading portfolio.
Which broker offers the best trading platform, FXChoice or CityIndex?
When our experts review a broker, they open their own accounts and place trades via the broker’s trading platform. This allows them to fully evaluate the quality of the platform, how easy it is to use and what features it offers.
FXChoice provides you with the ability to trade via 3 trading platforms, and CityIndex has 3 trading platforms, too. Both brokers also offer research and trading tools, however CityIndex has more.
Overall, our experts agree that CityIndex boasts the better trading platform offering.
Which is better for beginners, FXChoice or CityIndex?
To decide how well-suited a broker is for beginner traders, our experts look at what educational materials are available, how accessible the minimum deposit limits are, the range of account types and whether or not you can practice trading with a demo account first.
Considering this, our reviews show that CityIndex is the better broker for beginner traders as it offers a larger range of educational tools and materials. CityIndex also has a minimum deposit of $.
Which broker is better overall?
Overall, our tested reviewing methodology proves that CityIndex is the better broker in a range of key areas. You can learn more by reading our FXChoice and CityIndex reviews.
Competitive spread and leverage offering
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