Interactive Brokers vs. City Index

Page Summary

Interactive Brokers and City Index are leading online brokers. Interactive Brokers is the top choice for advanced traders outside the United States. It offers a professional trading platform, learning tools for new traders, and a digital library. We recommend it for advanced traders outside the US. 

City Index provides a top copy trading experience and low-cost trading solutions. It has competitive spreads, straightforward platforms, and many research tools. City Index is highly regulated with licenses from the MAS, FCA, and ASIC. We recommend it for traders of all levels of experience who want to improve their skills. 

Both brokerage firms have strengths and weaknesses. This article discusses the differences between Interactive Brokers and City Index. 

Broker NameInteractive BrokersCity Index
Year Founded19781983
RegulationSEC (USA), FCA (UK)FCA, ASIC, MAS
Tradable AssetsStock, ETF, Forex, Fund, Bond, Options, Futures,
CFD, Crypto, Warrants, Structured Products
Forex, CFDs
Min Deposit$0£50.00
Min Trade$0
PlatformsTraders Workstation (TWS)Web Trader, AT Pro, Mobile App, MetaTrader4
DepositYou can open account without depositFree of charge
WithdrawalsFree of charge for the first withdrawal in calendar monthFree of charge

Top findings from the Interactive Brokers vs. City Index review:  

  1. Interactive Brokers is a trustworthy online broker in 2021 for professional and new traders based outside the United States. 
  2. City Index is a leading online broker with excellent pricing and valuable learning tools. 
  3. Both brokers offer a demo account, a proprietary platform, and an active trader discount. 

Interactive Brokers is a top choice for non-US-based professional traders. City Index is a better choice for investors of all levels of experience as it has beginner-friendly tools. 

Overall Rating

Feature Interactive Brokers City Index
Overall 4.5 4.5
Commissions & Fees 4.5 3.5
Offering of Investments 5 5
Platforms & Tools 4.5 4.5
Mobile Trading 4 4.5
Research 4.5 4.5
Education 4 4.5
Trust Score 94 93
Winner YES

Level of experience  

The best choice for beginners is City Index because of its robust educational offering. It offers high-quality market research and news. City Index has a reliable learning center with webinars, forex education, and beginner trading videos. We recommend it for traders of all levels of experience who want to improve their trading knowledge. 

Interactive Brokers has some learning tools and materials. It offers webinars, articles, videos, and platform tutorials. Interactive Brokers is a top choice for experienced traders as it has premium platforms and tools. 

Fees  

The minimum initial deposit at Interactive Brokers is $0, while at City Index is £50.00. Both brokers follow a transparent fee policy and offer an active trader discount. 

Assets  

Interactive Brokers has 105 forex currency pairs, while City Index offers 65 pairs. Interactive Brokers provides access to 7400 CFDs, while City Index has 4500 available CFDs. 

Trading platform  

Interactive Brokers offers excellent trading tools, a massive asset offering, and market research tools. Its desktop, web, and mobile app offer access to professional charting tools. Interactive Brokers is a top choice for professionals. 

City Index has two proprietary platforms and access to MetaTrader 4. It provides high-quality market research and news. City Index offers access to an excellent learning center and a user-friendly mobile app. It is a good choice for new traders because of its valuable learning center. 

Banking services  

Banking services contribute to a good online trading experience. City Index offers many funding options, including bank transfers, PayPal, and credit/debit cards. Interactive Brokers has bank transfers as its funding option. 

Final verdict  

Interactive Brokers and City Index are leading online brokers with impressive trading experiences. Both have advantages and disadvantages depending on your trading experience. Interactive Brokers is an excellent choice for professionals as it offers premium platforms and tools. City Index is a better choice for new investors because of its learning and research tools. 

Interactive Brokers compared to other brokers:

Interactive Brokers Review

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