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City Index vs ATFX 2023

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between City Index and ATFX? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, City Index ranks more highly than ATFX.

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Compare

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Overall Rating City Index ATFX
Overall Rating 9.2 / 10 6.6 / 10
Account Type City Index ATFX
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info No No
Copy Trading City Index ATFX
Social Trading / Copy Trading info Yes Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency City Index ATFX
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info Yes Yes
ethereum info Yes Yes
Forex Trading (Spot or CFDs) City Index ATFX
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) City Index ATFX
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments City Index ATFX
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info Yes Yes
Social Trading / Copy Trading info Yes Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes No
ETF info Yes Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms City Index ATFX
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info No No
Regulatory Licenses City Index ATFX
Tier-1 Licenses info 7 2
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
European Union Authorised (MiFID) info Yes info Yes info
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Research, Education City Index ATFX
Trading Central (Recognia) info Yes Yes
Forex News (Top-Tier Sources) info Yes No
Daily Market Commentary info Yes Yes
Autochartist info No Yes
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs City Index ATFX
Minimum Deposit info £100.00 $500
Average Spread EUR/USD - Standard info 1.4 info N/A info
All-in Cost EUR/USD - Active info 0.74 info N/A info
Active Trader or VIP Discounts info Yes No
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info Yes No
Trading Tools City Index ATFX
Watchlists - Total Fields info 11 7
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 88 30
Mobile Charting - Indicators / Studies info 88 7
Trust Factors City Index ATFX
Year Founded info 1983 2017
Publicly Traded (Listed) info Yes No
Bank info No No
European Union Authorised (MiFID) info Yes info Yes info
Trust Score info 99 67
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City Index vs ATFX Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between City Index and ATFX? Our independent database powered by our unbiased research will help you compare City Index vs ATFX side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust City Index?

City Index has a Trust Score of 99, giving it a "Highly Trusted" Trust Score Label.

Can I trust ATFX?

ATFX has a Trust Score of 67, giving it a "High Risk" Trust Score Label.

Is City Index a good broker?

City Index, part of StoneX Group, is an award-winning, highly trusted broker with a long history of offering forex and CFDs across its global offices. Featuring a well-designed mobile trading app and a powerful web platform, City Index delivers a winning variety of tools for forex traders. Founded in 1983, City Index is regulated in multiple Tier-1 jurisdictions and carries a Trust Score rating of 99. The broker's flagship platform suite provides a large range of markets, but pricing is just average. Only a handful of markets are available on City Index's MetaTrader platform (and MT5 is not yet available).

Is ATFX a good broker?

Founded in 2015, ATFX is regulated in the U.K. by the FCA, but its lack of additional substantial regulatory licenses pulls down the broker's overall Trust Score. ATFX offers the popular MetaTrader 4 platform, but hasn't yet produced its own proprietary trading platform. ATFX demonstrates potential as a relatively new forex broker, but still has considerable room to improve across several key categories, such as its available range of markets and variety of trading platforms.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. City Index holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised), Canada (CIRO Authorised), Singapore (MAS Authorised) and United Kingdom (U.K.) (FCA Authorised). ATFX, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: United Kingdom (U.K.) (FCA Authorised). Neither have Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, City Index is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised), while ATFX is Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses City Index is Cayman Islands (CIMA Authorised), while ATFX is Mauritius (FSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that City Index offers a Proprietary Platform and Desktop Platform (Windows), whereas ATFX supports a Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does City Index offer MetaTrader? Does ATFX offer MetaTrader?

Both City Index and ATFX offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.. Neither have MetaTrader 5 (MT5)

How do City Index and ATFX differ in terms of minimum deposit? What about average spreads and funding options?

City Index requires a minimum deposit of £100.00, while ATFX requires a minimum deposit of $500. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that City Index supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for funding and deposit methods, whereas ATFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)

Which broker offers more tradeable asset classes, City Index or ATFX?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that City Index delivers a more diverse selection of investment options than ATFX, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).

We also keep track of each broker’s total number of tradeable symbols; City Index offers 13500, and ATFX offers a total of 150 tradeable symbols.

Can I trade cryptocurrency with City Index or ATFX?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither City Index nor ATFX allow you to trade physical cryptocurrencies.

Who offers more research tools, City Index or ATFX?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. City Index delivers the following research tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. ATFX, on the other hand, provides the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Trading Central (Recognia) and Social Trading / Copy Trading

Broker Reviews

Still looking for more information, read our broker reviews.

City Index Review

ATFX Review

Overall winner: City Index

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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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