| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| City Index | $150 Minimum Deposit | Web Trader, MT4 Trading Platforms | 6,300+ Markets To Trade | City Index offers a wide range of markets to trade including thousands of Stocks CFDs and technical and fundamental analysis tools About |
| Oanda | None Minimum Deposit | MT4, MT5 Trading Platforms | 800+ Markets To Trade | Oanda is an MT4 and MT5 broker with a wide range of trading tools for these platforms About |
Oanda vs City Index Comparison
This is a comparison of Oanda Global Markets Ltd based and regulated in the British Virgin Islands vs City Index. City Index is a long established broker (since 1983) offering a wide range of markets to trade, and in addition to a user friendly Web Trader, provides MT4. Oanda is also long established (since 1996) and provides MT4 and MT5 with a wide range of tools to assist different styles of trading including scalping, news trading and automated trading.
Quick comparison
Both brokers offer MT4. City Index additonally provides a user friendly Web Trader and a wide range of markets to trade. Oanda additionally provides MT5 and has a wide range of trading tools.
Minimum deposit and account features
The minimum deposit for City Index is $150. There is no minimum deposit requirement for Oanda.
- 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.
- Oanda offers the following trading account types: Standard, Core, Swap-free, Premium and Premium Core. The Standard is described as suitable for all traders and has no minimum deposit requirement. The Core is described as suitable for EAs and scalpers. The Swap-free account is for traders who do not want to pay or receive interest on their account. All three of these accounts offer the Signal Center by Acuity. The Premium and Premium Core accounts are for high volume traders and require the trader to maintain a $20,000 minimum balance and trade more than $10 million notional or equivalent per month. These two accounts come with an Account Manager, Zero Deposit Fees (and reimburse bank fees), Free withdrawals, Priority support and a Free VPN.
- The Standard account has spreads from 1.1, the Core account has spreads from 0.2 and the Swap-free account offers spreads from 1.6 pips. The Premium account has spreads from 0.8 and the Premium Core account has spreads from 0.2. The Core and Premium Core accounts charges commissions, the Standard, Premium and Swap-free accounts do not. At Oanda Global, verification documents are not needed for gross account deposits below $9000. Tools include MarketPulse, with a range of analysis and market news, technical analysis powered by AutoChartist, an Economic Calendar and MetaTrader plug-in tools. The minimum trade size is 0.01 lots.
Markets
- City Index offers Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies, Stocks, ETFs, Bonds, Options, IPOs and Interest Rates, with 6,300+ CFDs to trade.
- Oanda offers Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies and Stocks, with 800+ CFDs to trade.
Cryptocurrency CFDs
- City Index provides Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple CFDs.
- Oanda offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Binance Coin, Tezos, Uniswap, Cardano, Stellar, Chainlink, Polkadot and EOS CFDs.
| Broker | Trading Platforms | Description |
|---|---|---|
| Oanda Global Broker | MT4, MT5 Trading Platforms | Oanda offers MT4 and MT5 with a wide range of tools to support these platforms and the different types of trading they allow Description |
| City Index Broker | MT4, Web Trader Trading Platforms | City Index has a wide range of markets to trade, including thousands of Stocks CFDs and also offers MT4 as well as fundamental and technical analysis tools Description |
Leverage
Maximum leverage for Oanda (FSC regulated) is 200:1. Maximum leverage for City Index is .
Commissions
- City Index does not charge commissions, except for Shares CFDs.
- Oanda has a commission charge on its Core account of $4 per lot and $3.5 per lot on its Premium Core account.
Online trading platforms
City Index offers MT4 and a Web Trader. Oanda offers MT4 and MT5.
Foundation
City Index was founded in 1983. Oanda was founded in 1996.
Payment methods
Both brokers support Bank Transfer and Credit/Debit Cards. Oanda additionally supports Neteller and Skrill.
Why Oanda or City Index ?
Traders who want to trade on a user friendly Web Trader can find this at City Index. Traders who want to trade on MT4 can find this platform at either broker. Traders who want to trade with a wide range of markets may do so at City Index. Traders who want to trade on MT5 (the successor to MT4) may do so at Oanda.
Comparison summary
- Both offer CFD trading
- Both provide MT4
- City Index additionally provide a user friendly Web Trader
- Oanda additionally offer MT5
- City Index provides many more markets to trade
- Oanda has a wide range of trading tools for MT4 and MT5
