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City Index vs IG Markets: Comparison and Analysis

Written by Filippo Ucchino Fact-Checked by Luca Puddu Publication Date Last Updated
Our verdict · CFD trading

IG Markets is better than City Index for CFD trading in India by a small margin, because it asks for no minimum deposit, where City Index asks for 50.00 USD, lists more tradable symbols (17,000 against 13,500), runs MetaTrader 5, TradingView and ProRealTime next to the MetaTrader 4 and proprietary platform both brokers share, and adds options to the CFDs. IG Markets also offers a guaranteed stop loss, allows scalping and VPS hosting, opens corporate accounts, holds more account base currencies (six against three) and credits deposits on the same day, with withdrawals in 1 day against 3 days. City Index, on the other hand, has a lower EUR/USD cost (8.00 USD per lot against 8.60 USD) and faster execution (2 ms against 14 ms), and it opens micro and fixed-spread accounts. IG Markets holds licences from BaFin, the BMA, the FCA and the JFSA, and City Index from the CSSF, CySEC, ASIC, the FCA and the MAS. Both brokers cover CFDs on commodities, crypto, forex, indices and stocks, open professional accounts, allow hedging, expert advisors and API access, and provide a demo account.

City Index

CFDCFD This broker offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD to rate it on that. Available in your country City Index accepts clients from the country this site is for.
84CFDOverall score InvestinGoal score from 0 to 100, calculated from the data in this comparison across 12 areas (regulation, safety, costs, platforms and more). CFD and stock trading are scored separately: the number follows the side selected above.
Open Account

70% of retail investor accounts lose money when trading CFDs with this provider.

Best overall

IG Markets

CFDCFD This broker offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD to rate it on that. Available in your country IG Markets accepts clients from the country this site is for.
87CFDOverall score InvestinGoal score from 0 to 100, calculated from the data in this comparison across 12 areas (regulation, safety, costs, platforms and more). CFD and stock trading are scored separately: the number follows the side selected above.
Open Account

69% of retail investor accounts lose money when trading CFDs with this provider.

Best for

What we compare A comparison of the kinds of traders City Index and IG Markets are best suited to, based on what each one actually offers in India.
1 / 12

IG Markets is better than City Index for scalpers, crypto traders and options traders. Professional traders, high-volume traders and swing traders can choose either IG Markets or City Index.

Best for
Overall score City Index 84 -3 IG Markets 87 Best
Day trading i
Long-term investing i
Professional traders i
High-volume traders i
Scalpers i
Swing traders i
News traders i
Algo traders i
Stock traders i
Crypto traders i
Futures traders i
Options traders i

Regulation

What we compare A comparison between the financial authorities that supervise City Index and the ones that supervise IG Markets.
2 / 12

City Index and IG Markets are both regulated by top-tier authorities, City Index by CSSF, CySEC and ASIC (Australia) and IG Markets by BaFin, the FCA (United Kingdom) and the JFSA (Japan).

Regulation
Section score City Index 100 IG Markets 100
Tier-1 regulators
ESMA (European Union) i CSSF (Luxembourg)
FCA (United Kingdom) i
ASIC (Australia) i
CFTC (United States) i
NFA (United States) i
SEC (United States) i
CIRO (Canada) i
MAS (Singapore) i
SFC (Hong Kong) i
JFSA (Japan) i
FINMA (Switzerland) i
Tier-2 regulators
FMA (New Zealand) i
CBR (Russia) i
FSCA (South Africa) i
DFSA (Dubai) i
CSRC (China) i
ISA (Israel) i
LFSA (Malaysia) i
JSC (Jordan) i
CMA (Kenya) i
Tier-3 regulators
FSA (Seychelles) i
MMA (Maldives) i
SCB (Bahamas) i
FSC (Mauritius) i
VFSC (Vanuatu) i
FSC (Belize) i
CIMA (Cayman Islands) i
SV FSA (Saint Vincent and the Grenadines) i
FSRC (St. Kitts & Nevis) i
BMA (Bermuda) i
BVI FSC (British Virgin Islands) i
EDR (External Dispute Resolution) i

Safety

What we compare A comparison of the tools and services that City Index and IG Markets have in place to protect your money in India.
3 / 12

Both City Index and IG Markets offer segregated client funds and two-factor authentication. City Index also offers an investor compensation scheme and additional money insurance. IG Markets is also a licensed bank.

Safety
Section score City Index 95 Best IG Markets 78 -17
Company info
Is it publicly traded i
Is it a bank i
Year founded i 1983 1974
Parent company i StoneX Group Inc IG Group Holdings plc
CEO i Clive Cooke Breon Corcoran
Money safety
Segregated client funds i
Two-factor authentication i
Investor compensation scheme i
Additional money insurance i
Partner bank i Commonwealth Bank|Westpac|HSBC
Brand power
Number of customers worldwide i 235,000 820,000
Annual revenue i USD 124,800,000 USD 987,300,000
Monthly website search traffic i 12.1K monthly visits 97.1K monthly visits

Costs

What we compare A comparison of what it costs to trade with City Index and with IG Markets in India, both on each trade and on holding the account.
4 / 12

City Index and IG Markets are equally good for costs, as City Index is cheaper on EUR/USD, at 8 USD per lot (against IG Markets' 8.6 USD), and charges lower Bitcoin CFD fees, at 40 USD (against IG Markets' 45 USD). On the other hand, IG Markets does not charge forex commissions (against City Index's 10 USD per lot), and has tighter gold CFD spreads, at 0.3 points (against City Index's 0.5 points). Neither City Index nor IG Markets charges account maintenance fees or deposit fees.

Costs
Section score City Index 69 IG Markets 67 -2
Broker fees
Deposit fees i
Withdrawal fees i
Overnight fees i
Inactivity fees i
Currency conversion fees i
Discounts on volume i
Real time market data fee i
Dividend withholding i
Account opening fees i
Account maintenance fee i
Portfolio management fee i
Fees on CFDs
Forex commission per lot i USD 10 Free
EUR/USD average standard spread i
0.8 pips
0.86 pips
EUR/USD average raw spread i
EUR/USD average fixed spread i
EUR/USD total cost per lot i USD 8 USD 8.6
S&P 500 fees (CFD) i 0.4 points 0.4 points
Gold fees (CFD) i 0.5 points 0.3 points
Bitcoin fees (CFD) i USD 40 USD 45
US stocks fees (CFD) i USD 0.018 USD 0.02
Fees on stocks
Stock fee type i Commission
US stocks fees (real) i
ETF fees (real) i
Management costs i
Connection costs i
Fees on futures
Futures fees per contract i USD 2
Platform fees i
Fees on options
Options fees per contract i USD 2
Event fees i
Fees on savings plans
IRA opening fee i
IRA maintenance fee i
401k opening fee i
401k maintenance fee i

Available markets

What we compare A comparison of the markets and products you can trade with City Index and with IG Markets in India, and of how many instruments each one gives access to.
5 / 12

IG Markets is better than City Index for available markets, as IG Markets gives access to 17,000 tradable symbols (against City Index's 13,500), and offers options on commodities, forex, indices and stocks, which City Index does not. Both City Index and IG Markets offer CFDs on commodities, crypto, forex, indices and stocks.

Available markets
Section score City Index 75 -25 IG Markets 100 Best
Total tradable symbols i 13,500 17,000
Currency pairs i
Indices i
Commodities i
Stocks i
ETF i
Cryptocurrencies i
Bonds i
Interest rates i
Portfolios i
CFDs i Commodities, Crypto, Forex, Indices, Stocks Commodities, Crypto, Forex, Indices, Stocks
Futures i
Options i Commodities, Forex, Indices, Stocks
Assets you can own i

Platform

What we compare A comparison of the trading platforms that City Index and IG Markets make available to their clients in India.
6 / 12

There is little between City Index and IG Markets on platforms, as both offer a proprietary platform and MetaTrader 4. IG Markets has a slight edge, as it offers MetaTrader 5 and TradingView.

Platform
Section score City Index 88 -3 IG Markets 91
Proprietary platform i
MetaTrader 4 i
MetaTrader 5 i
cTrader i
Social trading platform i
Copy trading platform i
ZuluTrade i
TradingView i
Duplitrade i
Mirror Trader i
NinjaTrader i
AutoChartist i
Real time pricing i
5 digit pricing i
One-click trading i

Mobile

What we compare A comparison of the mobile apps of City Index and IG Markets in India, and of what each one lets you do from your phone.
7 / 12

IG Markets is better than City Index for mobile trading, because IG Markets offers the MetaTrader 5 app, mobile charting tools and mobile drawing tools, which City Index does not. City Index and IG Markets both offer a proprietary mobile app and the MetaTrader 4 app.

Mobile
Section score City Index 80 -13 IG Markets 93 Best
Proprietary app i
Social trading app i
Copy trading app i
MetaTrader 4 app i
MetaTrader 5 app i
cTrader app i
Mobile trading signals i
Mobile alerts i
Mobile charting tools i
Mobile drawing tools i
Mobile watchlist i
Smartwatch app i

Trading features

What we compare A comparison of the trading tools and strategies that City Index and IG Markets allow on their platforms in India.
8 / 12

IG Markets is better than City Index for trading features, given that IG Markets offers guaranteed stop losses and tier-1 liquidity providers, which City Index does not, and allows for scalping. City Index and IG Markets both offer negative balance protection and trailing stops.

Trading features
Section score City Index 79 -10 IG Markets 89 Best
Trade execution
Broker type i Agency Agency
Average execution time i 2 ms 14 ms
Slippage occurrence i 11%
Requotes occurrence i
Tier-1 liquidity providers i
PFOF i
Leverage
Major FX pairs leverage i 30:1 200:1
Minor/Exotic FX pairs leverage i 20:1 133:1
Major indices leverage i 20:1 200:1
Minor indices leverage i 10:1 200:1
Gold leverage i 20:1 200:1
Commodities leverage i 10:1 67:1
Equities leverage i 5:1 20:1
Cryptocurrency leverage i 2:1 10:1
Risk management
Stop losses i
Take profits i
Limit orders i
Trailing stop i
Margin call i
OCO orders i
Guaranteed stop loss i
Negative balance protection i
Minimum trade size (FX) i 0.01 lots 0.01 lots
Minimum trade size (stocks) i USD 0 USD 0
Fractional stocks i
Trading compliance
Scalping strategies allowed i
Hedging strategies allowed i
Automated trading strategy allowed i
EAs use allowed i
HFT strategy allowed i
VPS use allowed i
API use allowed i
Price scraping allowed i
FIFO rule applies i

Account types

What we compare A comparison of the kinds of account you can open at City Index and at IG Markets in India, and of who each one is meant for.
9 / 12

IG Markets is better than City Index for account types, as IG Markets offers a corporate account and an unlimited demo account, which City Index does not. City Index and IG Markets both offer a demo account and a professional traders account.

Account types
Section score City Index 40 -8 IG Markets 48 Best
Demo account i
Unlimited demo account i
Standard account i
Micro account i
Cent account i
Nano account i
Raw spread account i
ECN account i
Swap-free account i
Islamic account i
Professional traders account i
Fixed spread account i
Spread betting account i
Copy trading account i
Corporate account i
Managed account i
Stock investing account i
Margin investing account i
Savings account i
Retirement account i

Account opening

What we compare A comparison of what it takes to open and fund an account with City Index and with IG Markets in India.
10 / 12

IG Markets is better than City Index for account opening, given that IG Markets does not require a minimum deposit (against City Index's 50 USD), offers 6 account base currencies (against City Index's 3), and credits deposits faster, within the same day (against City Index's 3 days). Both City Index and IG Markets offer credit cards and debit cards.

Account opening
Section score City Index 62 -8 IG Markets 70 Best
Minimum deposit i USD 50 USD 0
Minimum withdrawal i USD 0 USD 150
Wire transfers i
Credit cards i
Debit cards i
eWallets i
Local payment methods i
Account base currencies i AUD, EUR, USD AUD, EUR, GBP, HKD, SGD, USD
Deposit waiting time i up to 3 business days Instant
Withdrawal waiting time i up to 3 business days up to 1 business days
Bonus program i

Customer care

What we compare A comparison of the customer support of City Index and IG Markets in India, in how it can be reached and how fast it answers.
11 / 12

IG Markets is better than City Index for customer care, given that IG Markets offers customer support in 12 languages (against City Index's 6), and has a website in 12 languages (against City Index's 6). Both City Index and IG Markets offer a dedicated account manager and phone support.

Customer care
Section score City Index 73 -14 IG Markets 87 Best
Number of languages supported i 6 12
Website languages i Arabic, German, English, Polish, Spanish, Chinese Arabic, Danish, German, English, French, Italian, Dutch, Norwegian, Portuguese, Russian, Spanish, Swedish
Website available in English i
Customer support languages i Arabic, German, English, Polish, Spanish, Chinese Arabic, Danish, German, English, French, Italian, Dutch, Norwegian, Portuguese, Russian, Spanish, Swedish
Customer support in English i
Call back request i
Email support i
Phone support i
Live chat i
Priority customer support i
Dedicated account manager i
Cash sweep i
Stock lending i
Distributes proceeds i
Tax withholding agent i
Tax assistance i

Learning

What we compare A comparison of the educational material that City Index and IG Markets provide to their clients in India.
12 / 12

City Index and IG Markets are equally good for learning, as both offer education for advanced traders and webinars.

Learning
Section score City Index 100 IG Markets 100
Education
Education center i
Education for beginners i
Education for advanced traders i
Webinars i
Tutorials i
Glossary i
Research
Economic calendar i
Traders' sentiment i
Daily market commentary i
Daily trading ideas i
News via social media i
Professional reports i
Watchlist i
City Index
Open Account 70% of retail investor accounts lose money when trading CFDs with this provider.
IG Markets
Open Account 69% of retail investor accounts lose money when trading CFDs with this provider.
Our verdict

City Index vs IG Markets: which one should you choose?

City Index

CFD Choose City Index, regulated by the FCA and the MAS, if you want an online CFD broker with fast execution, micro accounts and fixed-spread accounts.

Open Account 70% of retail investor accounts lose money when trading CFDs with this provider.
IG Markets

CFD Choose IG Markets, regulated by the FCA and the JFSA, if you want a CFD and forex broker with several trading platforms, no minimum deposit and a guaranteed stop loss.

Open Account 69% of retail investor accounts lose money when trading CFDs with this provider.

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