City Index vs FXOpen Comparison

Compare City Index vs FXOpen

City Index vs FXOpen
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
NoneMT4, AT Pro, Advantage Web, Web Trader12,000+FCA, ASIC, MAS
$300MT465+FCA, ASIC, FSRC

City Index and FXOpen Comparison

FXOpen is an MT4 ECN broker, which has a range of account types, including one which offers Cryptocurrency CFDs. City Index offers CFD trading and spread betting, and has a particularly large number of markets available to trade. As an ECN broker, FXOpen has a lot less, but nonetheless a competitive number for this kind of broker. City Index also offers MT4, plus two web traders and AT Pro. On MT4 it has a lot less markets, more on a par with FXOpen.

AT Pro is a platform for advanced traders, which allows templates to be used or built, which display trading signals on the chart. It also has a wide range of technical indicators. It has the same market offering as the two web traders. Both brokers then support both discretionary and automated trading. FXOpen has the attributes of an ECN broker, City Index has a lot of markets available to trade and three platforms. Both are regulated by the FCA in the United Kingdom and the ASIC in Australia. City Index is additionally regulated by the MAS in Singapore. FXOpen is additionally regulated by the ASIC in Australia and the FSRC in Nevis.

Quick comparison

Both brokers support automated trading (though FXOpen has ECN trading conditions). Each has MT4, with a similar number of markets available on each. However City Index has additional support for discretionary trading, with the two web traders, which have many more markets. It should be noted that MT4 and AT Pro both support discretionary trading.

Minimum deposit and account types

City Index does not have a minimum deposit. The minimum deposit for FXOpen is €/$300 or £200.

  • City Index offers CFD trading and spread betting. City Index provides a news feed, market reports and a Trading Academy.
  • FXOpen offers three accounts types, ECN, STP and Crypto. The ECN account charges commissions on its markets, the STP does not charge commissions. The ECN account has a wider range of market available. The Crypto account is an STP account which additionally offers a range of Cryptocurrencies (which have a commission charge). The minimum trade size is 0.01 lots. Market news and analysis are available via RSS and an economic calendar is provided on FXOpen's website.

Markets

  • On the Web Trader and AT Pro City Index offers Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies, Stocks, ETFs, Bonds, Options, IPOs and Interest Rates, with 12,000+ available. City Index Australia and City Index Singapore have less markets (5,000+), as they do not offer spread betting.
  • On MT4 City Index offers Forex, Indices, Energy, Metals and Soft Commodities, with 110+ available.
  • On the MT4 ECN account, FXOpen offers Forex, Indices, Energy and Precious Metals, with 65+ available.
  • On the MT4 STP account, FXOpen provides Forex and Precious Metals, for a total of 50+.
  • On the MT4 Crypto account, FXOpen offers Forex, Precious Metals and Cryptocurrencies, for a total of 55+.

Cryptocurrencies

  • City Index offers Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple (as CFDs or for spread betting).
  • FXOpen offers Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, DASH, IOTA, Ethereum Classic, NEO, EOS, Monero, Namecoin, Peercoin, Emercoin and OMNI.

Spreads and leverage

  • Spreads at City Index are variable and are from 0.5 for EUR/USD, 1 for UK100, 0.3 for Gold and 0.04 for US Oil.
  • Spreads at FXOpen are variable and are from 0.0 for EUR/USD, 0.0 for UK 100, 0.0 for Gold and 0.0 for US Crude Oil (all plus commission). The STP account has higher spreads.

Maximum leverage for City Index (FCA regulated) is . Maximum leverage for FXOpen (FCA regulated) is .

Commission charge

  • For Forex, FXOpen charges a commission, which depends on volume traded, from $1.5 - $5 per standard lot per side. Other instruments have differing commission charges.
  • City Indes does not charge commissions for trading Forex.

Platforms

City Index offers MT4, a web trading platform with a range of indicators and chart types and AT Pro. FXOpen offers MT4.

Why City Index or FXOpen ?

City Index provides a relatively large number of markets to trade for either CFD trading or (in the UK) spread betting, on three platforms. FXOpen is an ECN broker, offering MT4, with a core, considerably smaller group of markets. City Index also offers MT4, with a comparable number of markets.

Comparison summary

  • FXOpen is an ECN broker
  • City Index offers CFD trading and spread betting
  • Both offer MT4
  • Each has a similar number of markets on this platform
  • City Index also offers two web traders and AT Pro
  • City Index has more markets on these platforms
  • Each has Cryptocurreny CFD to trade (and spread bet with City Index)
  • City Index offers tight variable Forex spreads, without a commission charge
  • FXOpen offers low Forex spreads with a commission charge (or higher without, depending on the account type)
  • Both are FCA and ASIC regulated

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