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City Index vs Libertex (Forex Club) 2023

BrokerNotes.co

Written by BrokerNotes.co

January 31, 2023

Trying to decide between City Index and Libertex (Forex Club)? 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 Libertex (Forex Club).

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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Overall RatingCity IndexLibertex (Forex Club)
Overall Rating 9.2 / 10 6.7 / 10
Account TypeCity IndexLibertex (Forex Club)
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account No No
Copy TradingCity IndexLibertex (Forex Club)
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade No No
CryptocurrencyCity IndexLibertex (Forex Club)
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)City IndexLibertex (Forex Club)
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)City IndexLibertex (Forex Club)
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsCity IndexLibertex (Forex Club)
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting Yes No
Social Trading / Copy Trading Yes Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals Yes Yes
ETF Yes Yes
U.S. Stocks (CFD) Yes Yes
Trading PlatformsCity IndexLibertex (Forex Club)
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) No No
Regulatory LicensesCity IndexLibertex (Forex Club)
Tier-1 Licenses 3 1
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) Yes No
FCA Authorised (U.K.) Yes No
SFC Authorised (Hong Kong) No No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No No
Tier-2 Licenses 2 1
Tier-3 Licenses 1 0
Research, EducationCity IndexLibertex (Forex Club)
Trading Central (Recognia) Yes No
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes No
Autochartist No No
Investor Dictionary (Glossary) Yes No
Videos - Beginner Trading Videos Yes No
Client Webinars (Archived) Yes No
Trading CostsCity IndexLibertex (Forex Club)
Minimum Initial Deposit £100.00 $10
Average Spread EUR/USD - Standard 1.0 (July 2022) -1
All-in Cost EUR/USD - Active 1.0 (July 2022) -1
Active Trader or VIP Discounts Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes No
PayPal (Deposit/Withdraw) Yes Yes
Trading ToolsCity IndexLibertex (Forex Club)
Watchlists - Total Fields 11 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 88 15
Mobile Charting - Indicators / Studies 88 30
Trust FactorsCity IndexLibertex (Forex Club)
Year Founded 1983 1997
Publicly Traded (Listed) Yes No
Bank No No
Authorised in European Union Yes info Yes info
Trust Score 99 72
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City Index vs Libertex (Forex Club) 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 City Index vs Libertex (Forex Club).

Can I trust City Index?

City Index 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 Libertex (Forex Club)?

Libertex (Forex Club) has a trust score of 72, giving it a "Average Risk" trust label.

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.

Is Libertex (Forex Club) a good broker?

Forex Club has long been a MetaTrader broker, though its more recent Libertex brand in Europe also offers a proprietary platform. That said, Libertex has fewer regulatory licenses than its peers, resulting in a below-average Trust Score.

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. City Index is ASIC Authorised (Australia), IIROC Authorised (Canada), MAS Authorised (Singapore) and FCA Authorised (U.K.), while Libertex (Forex Club) is none., neither have SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

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 CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE), while Libertex (Forex Club) is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa) and SEC Authorised (Thailand). When comparing tier-3 licenses City Index is CIMA Authorised (Cayman Islands), while Libertex (Forex Club) is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

Both City Index and Libertex (Forex Club) offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does City Index offer MetaTrader? Does Libertex (Forex Club) offer MetaTrader?

Both City Index and Libertex (Forex Club) 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 Libertex (Forex Club) differ in terms of minimum deposit? What about average spreads and funding options?

City Index requires a minimum deposit of £100.00, while Libertex (Forex Club) requires a minimum deposit of $10. From our testing we found City Index offers spreads of 1.0 (July 2022), while Libertex (Forex Club) offers spreads of -1. City Index supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where Libertex (Forex Club) supports Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, City Index or Libertex (Forex Club)?

City Index offers a more diverse selection of investment options than Libertex (Forex Club) allowing 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, City Index has 13500, compared to 300 from Libertex (Forex Club).

Can I trade cryptocurrency with City Index or Libertex (Forex Club)?

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 City Index nor Libertex (Forex Club) allow you to trade physical cryptocurrencies.

Who offers more research tools, City Index or Libertex (Forex Club)?

In terms of research and research tools City Index gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison Libertex (Forex Club) has the tools listed here: Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading., neither have Autochartist

Broker Reviews

Still looking for more information, read our broker reviews.

City Index Review

Libertex 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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