| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| City Index | $150 Minimum Deposit | MT4, Web Trader Trading Platforms | 6300+ Markets To Trade | City Index offers a wide range of market to trade on its user friendly Web Trader and provides MT4 (allowing automated trading with EAs) About |
| XM | $5 Minimum Deposit | MT4, MT5 Trading Platforms | 1000+ Markets To Trade | XM offers trading on both MT4 and MT5 with 1000+ markets to trade on MT5, allowing EAs on both platforms and has a cent type account with a low minimum trade size About |
City Index and XM Comparison
Both brokers provide support for automated trading, offering MT4. XM additionally provides MT5. City Index offers its user friendly Web Trader web trading platforms, for traders who plan and execute their own trades. 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 (6300+) than XM and many other brokers, and a wider range, though XM has a relatively large number (1000+). When MT4 is compared, XM has a similar number to City Index. Stocks CFDs, which make up the bulk of each offering, are to be found on the Web Trader at City Index and MT5 at XM.
On MT4 City Index offers 80+ Forex pairs (as well as other markets), versus 60+ at XM.
XM has a relatively low minimum deposit (compared with other brokers) but City Index does not have a minimum deposit (however XM allows smaller trade sizes).
Quick comparison
Both brokers have a range of platforms available. Each has MT4, with a similar number of markets. XM has its largest offering on MT5, with 1000+. City Index has more markets on its Web Trader.
Minimum deposit and account types
City Index has a minimum deposit of $150. The minimum deposit for XM is $5.
- City Index provides SMART Signals (which analyses markets to look for trading opportunities), News & Analysis, Trading View analysis, Performance Analytics from Chasing Returns (to analyse trader's performance), an Economic Calendar and SMS Volatility Alerts.
- XM CySEC regulated offers three account types, the Micro, Standard and XM Zero accounts, all with minimum deposits of $5. An Islamic account is available for each account type. The Micro and Standard accounts do not charge commissions, the XM Zero account does charge commissions. The Micro and Standard accounts differ in terms of order sizes available. The minimum trade size is 0.0001 lots.
- XM ASIC regulated offers the XM Ultra Low account instead of the XM Zero account. XM IFSC regulated offers the Micro, Standard and Ultra Low accounts and a Shares account (with real Shares to own). The minimum deposit for the Ultra Low account is $50. The minimum deposit for the Shares account is $10,000.
- XM offers an economic calendar, a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, trading tools, market outlook and webinars. XM allows EAs, hedging and scalping.
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 6300+ available.
- XM offers Forex, Indices, Energy, Soft Commodities, Metals, Stocks and Cryptocurrencies, with 1000+ CFDs available.
City Index offers 80+ Forex pairs (on MT4), XM offers 60+ Forex pairs.
| Broker | Trading Platforms | Description |
|---|---|---|
| XM Broker | MT4, MT5 Trading Platforms | XM provides both MT4 and MT5 along with a cent type account with low minimum trade sizes and allows automated trading with EAs Description |
| City Index Broker | MT4, Web Trader Trading Platforms | City Index offers its user friendly Web Trader with a large number of markets to trade and provides MT4, allowing automated trading Description |
Cryptocurrency CFD
- City Index offers Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash.
- XM offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Aave, Cardano, Algorand, Avalanche, Axie Infinity, Basic Attention Token, Compound, Enjin, Fetch.ai, The Graph, Chainlink, OmiseGO, SKALE, Solana, Storj, Sushi, Stellar and Ox.
Spreads and leverage
City Index provides Forex spreads from 0.5 without a commission charge. XM offers Forex spreads from 1 on its Standard account and 0.6 on its Ultra Low account without a commission charge and from 0 plus a commission charge on its XM Zero account.
Maximum leverage for City Index is . Maximum leverage for XM (IFSC regulated) is 888:1.
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).
Online trading platforms
City Index offers its Web Trader and MT4. XM offers MT4 and MT5.
Why City Index or XM ?
Traders who want to trade on MT4 may do so at either broker. Traders who want to trade on MT5, the successor to MT4 can do this at XM (and trade 1000+ markets). Traders who want to trade on a user friendly Web Trader can find this at City Index. Traders who want to trade with very small trade sizes and with a very low minimum deposit may do so at XM.
Comparison summary
- Both brokers offer CFD trading
- Both offer MT4
- XM additionally provides MT5
- City Index additionally offers its user friendly Web Trader
- City Index provides more markets to trade overall
- XM offers 1000+ markets to trade on MT5
- XM has a very low minimum deposit and offers a Micro (cent) account
