City Index vs XM Comparison

City Index vs XM Broker Comparison

City Index versus XM
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
NoneMT4, Advantage Web, Web Trader, AT Pro12,000+FCA, ASIC, MAS
$5MT4, MT51000+FCA, ASIC, CySEC

City Index and XM Comparison

Both brokers provide support for automated trading, offering MT4. City Index also offers AT Pro, which enables automated trading strategies to be built. XM additionally provides MT5. City Index offers the Advantage Web and Web Trader web trading platforms. City Index is a dealing desk broker, while XM is a no dealing desk STP broker (it won't requote orders and allows styles such as scalping).

City Index can offer many more markets to trade (12,000+) than XM and many other brokers, and a wider range, though XM has a relatively large number (1000+) for an STP NDD broker. When MT4 is compared, XM has a similar number to City Index (as City Index has a reduced number on this platform). Equities, which make up the bulk of each offering, are to be found on the Web Trader and AT Pro at City Index and MT5 at XM.

City Index's web trader is suited to discretionary trading (it is possible to trade in a discretionary manner on all the platforms mentioned here).

On MT4 City Index offers 80+ Forex pairs (as well as other markets), versus 60+ at XM. XM has a range of markets on MT4 for its STP accounts, but less than MT5. On its STP/ECN account, XM has a similar number of markets as MT4 at City Index.

XM has a relatively low minimum deposit (compared with other brokers), though the minimum deposit for its STP/ECN account is higher, and City Index does not have a minimum deposit. These brokers are FCA regulated in the United Kingdom and ASIC regulated in Australia. City Index is also regulated by the MAS in Singapore. XM is also regulated by the CySEC in Cyprus.

Quick comparison

Both brokers have a range of platform available. Each has MT4, with a similar number of markets. XM has its largest offering on MT5, with 1000+ which is a relatively large number for an NDD STP broker. City Index has more markets on its web traders and AT Pro.

Minimum deposit and account types

City Index does not have a minimum deposit. The minimum deposit for XM is £/$5, but for its XM Zero account it is £/$100.

  • City Index offers CFD trading and spread betting. City Index provides a news feed, market reports and a Trading Academy.
  • XM offers three account types, a Micro and a Standard account (both STP), each with minimum deposits of $5 and the XM Zero account (STP/ECN), with a minimum deposit of $100.
  • XM's Micro account allows smaller trade sizes than Standard account and XM Zero accounts, which allow larger trade sizes. An Islamic account is available for each of these account types. The Micro and Standard accounts do not charge commissions, the XM Zero account does charge commissions. XM offers a free VPS for clients who have a minimum balance of $5000 in their account, T&Cs apply. XM also provides a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, market outlook and webinars.

Markets

  • On Advantage Web, Web Trader and AT Pro, City Index provides Forex, Indices, Energy, Soft Commodities, Metals, Stocks, Cryptocurrencies, Options, ETFs, Bonds, IPOs and Interest Rates, with 12,000+ available. On MT4, it has 80+ Forex pairs. 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.
  • XM offers Forex pairs, Indices, Energy, Soft Commodities, Metals, Stocks and Cryptocurrencies, with 1000+ available (on MT5; MT4 does not offer Stocks or Cryptocurrency CFDs). On its XM Zero account, it has Forex and Precious Metals, for a total of 55+.

City Index offers 80+ Forex pairs (on MT4), XM offers 60+ Forex pairs.

Cryptocurrency CFD

  • City Index offers Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash (as CFDs or for spread betting).
  • XM offers Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash.

Spreads and leverage

  • City Index provides variable spreads, from 0.5 for EUR/USD, 1 for UK100, 0.3 for Gold and 0.04 for US Oil.
  • Spreads at XM are variable. For the Standard and Micro accounts spreads are from 1 for EUR/USD, 1.5 for UK 100, 0.4 for Gold and 0.05 for US Crude Oil. XM also offers Futures, with UK100 spreads from 4.5.
  • For the XM Zero account, spreads have a low of 0 for EUR/USD. On the XM Zero account Gold has an average spread of 0.21.

Maximum leverage for City Index (FCA regulated) is . Maximum leverage for XM (FCA or CySEC regulated) is .

Commissions

  • City Index does not charge commissions, except for Shares CFDs.
  • The XM Zero account charges commission of $3.5 per lot per side (for Forex and Precious Metals).

Platforms

City Index offers two web trading platforms (Advantage Web and Web Trader), MT4 and AT Pro. XM offers MT4 and MT5.

Why City Index or XM ?

City Index can offer a large number of markets to trade on its web traders and AT Pro. XM can also provide a relatively large number of markets (but less than City Index) on MT5. On MT4, both brokers have a comparable number of markets. XM provides an STP/ECN account.

Comparison summary

  • City Index provides CFD trading and spread betting
  • XM offers CFD trading, with both STP/ECN and STP accounts
  • City Index can offer tighter spreads compared with XM's STP accounts (without a commission charge)
  • XM can provide very low Forex spreads, with a commission charge on its STP/ECN account
  • City Index offers more markets than XM
  • XM has a competitive number for an STP NDD broker
  • Both brokers offer MT4
  • XM has more markets on MT4, except for its STP/ECN account
  • City Index offers two web trader platform
  • City index has many more markets on the web trader and AT Pro
  • XM additionally provides MT5
  • These brokers are ASIC and FCA regulated

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