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CMC Markets vs City Index 2023

BrokerNotes.co

Written by BrokerNotes.co

March 14, 2023

Trying to decide between CMC Markets and City Index? 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, CMC Markets ranks more highly than City Index.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Compare

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Overall Rating CMC Markets City Index
Overall Rating 9.6 / 10 9.2 / 10
Account Type CMC Markets City Index
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 CMC Markets City Index
Social Trading / Copy Trading info Yes Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency CMC Markets City Index
Cryptocurrency (Physical) info No No
Cryptocurrency (CFD) Yes Yes
Bitcoin info Yes Yes
ethereum info Yes Yes
Forex Trading (Spot or CFDs) CMC Markets City Index
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) CMC Markets City Index
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 CMC Markets City Index
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 Yes
ETF info Yes Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms CMC Markets City Index
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
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 CMC Markets City Index
Tier-1 Licenses info 5 3
Australia (ASIC Authorised) info Yes Yes
Canada (SRO Authorised) info Yes Yes
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
Hong Kong (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes Yes
Switzerland (FINMA Authorised) info No No
USA (CFTC Authorized) info No No
Tier-2 Licenses info 1 2
Tier-3 Licenses info 0 1
Research, Education CMC Markets City Index
Trading Central (Recognia) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes Yes
Autochartist info Yes No
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs CMC Markets City Index
Minimum Deposit info $0 £100.00
Average Spread EUR/USD - Standard info 0.51 info 1.0 info
All-in Cost EUR/USD - Active info 0.51 info 1.0 info
Active Trader or VIP Discounts info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info Yes Yes
Trading Tools CMC Markets City Index
Watchlists - Total Fields info 9 11
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 84 88
Mobile Charting - Indicators / Studies info 29 88
Trust Factors CMC Markets City Index
Year Founded info 1989 1983
Publicly Traded (Listed) info Yes Yes
Bank info No No
European Union Authorised (MiFID) info Yes info Yes info
Trust Score info 99 99
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CMC Markets vs City Index Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare CMC Markets vs City Index.

Can I trust CMC Markets?

CMC Markets has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust City Index?

City Index has a trust score of 99, giving it a "Highly Trusted" trust label.

Is CMC Markets a good broker?

CMC Markets is a highly trusted multi-asset broker that features excellent pricing and a huge selection of markets on its powerful Next Generation proprietary trading platform (available for web and mobile), alongside high-quality research and educational materials.

Is City Index a good broker?

City Index, part of StoneX Group, is a trusted broker with a long history of offering forex and CFDs across its global offices. City Index provides a large range of markets on its flagship trading platform suite, but pricing is just average, and only a few markets are available on City Index's MetaTrader platform.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. CMC Markets is Australia (ASIC Authorised), Canada (SRO Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised) and United Kingdom (U.K.) (FCA Authorised), while City Index is Australia (ASIC Authorised), Canada (SRO Authorised), Singapore (MAS Authorised) and United Kingdom (U.K.) (FCA Authorised).. Neither have Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC 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, CMC Markets is UAE (DFSA/Central Bank Authorised), while City Index is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank 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 CMC Markets is none, while City Index is Cayman Islands (CIMA Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Both CMC Markets and City Index offer a Proprietary Platform and Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade

Does CMC Markets offer MetaTrader? Does City Index offer MetaTrader?

Both CMC Markets and City Index 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 CMC Markets and City Index differ in terms of minimum deposit? What about average spreads and funding options?

CMC Markets requires a minimum deposit of $0, while City Index requires a minimum deposit of £100.00. From our testing we found CMC Markets offers spreads of 0.51, while City Index offers spreads of 1.0 . Both CMC Markets and City Index offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for deposits.. Neither have Skrill (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, CMC Markets or City Index?

Both CMC Markets and City Index allow you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, CMC Markets has 12377, compared to 13500 from City Index.

Can I trade cryptocurrency with CMC Markets or City Index?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither CMC Markets nor City Index allow you to trade physical cryptocurrencies.

Who offers more research tools, CMC Markets or City Index?

In terms of research and research tools CMC Markets gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison City Index has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.

Broker Reviews

Still looking for more information, read our broker reviews.

CMC Markets Review

City Index Review

Overall winner: CMC Markets

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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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