IC Markets vs City Index, Updated for 2023
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IC Markets Rating
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City Index Rating
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Losses can exceed deposits |
74% of retail investor accounts lose money when trading CFDs with this provider |
IC Markets vs City Index Guide |
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Read our In-Depth IC Markets vs City Index Review - for 2023
This IC Markets vs City Index review has been updated for 2023 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations for each broker, the content in this IC Markets vs City Index review does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
City Index Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare IC Markets vs City Index
Every online trading platform has some pros and cons, and no IC Markets and City Index review would be complete without having a balanced approach. Compare IC Markets and City Index to understand how they stack up against each other before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
So you are looking for a broker and are choosing between IC Markets or City Index. Which one is best in 2023?
This IC Markets vs City Index comparison contains the latest information so you can easily compare City Index against IC Markets.
If you're a new entrant in the world of trading and brokerages, so many facts will be perplexing for you. Getting into the world of trading demands expert analyzing skills and thorough knowledge. You'll acquire proficient at all the concepts of broker since you continue trading. For starters, you have to select the right agent who'll be transparent with you always.
In this fast-paced world of stock markets and trading, you'll need advice to make correct decisions. A professionally direct investment plan has the potential to create hefty returns. IC Markets and City Index are just two such platforms that will take you and your investment to great heights. It is crucial that you compare IC Markets vs City Index before you trust them with your money.
Our IC Markets vs City Index comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and City Index side by side.
Our full IC Markets vs City Index Review covers all you will need to know about trading using either IC Markets or City Index. A good agent can multiply your first investments and provide you positive profits. If you want to earn profits, you must trade with a brokerage service that contrasts with your investing objectives.
There is no sure-fire method to guarantee profits; thus, you must carefully analyze your broker before you choose them. It is a common misconception that all brokers are the same, but that's not correct. Wrong judgment, in the beginning, can set your investments in danger.
IC Markets and City Index are both brokers which have paved their way successfully into the brokerage world. In this review, we've attempted to collate a number of the important aspects of both IC Markets and City Index. This review can allow you to understand whether either City Index or IC Markets is a good fit for your own investments or not. We've tried to breakdown all of the qualities and fees for your advantage.
Benefits of IC Markets and City Index Compared
IC Markets has a minimum deposit of $200 while City Index offers a $25 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and City Index compare
The main reason is that you should only deposit what you can afford. If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage of your allocated trading funds. Don't let a higher minimum deposit totally put you off a broker, look at the overall trading features you are getting from the trading platform. Often a high minimum deposit gives greater choice in the financial assets and trading platform research features.
IC Markets has around 232 financial instruments while City Index allows you to trade around 232 financial instruments on their platform.
The more financial instruments you can trade on the IC Markets and City Index platforms the better. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you seriously do not want to miss out on a trading opportunity due to the limitations of IC Markets or City Index.
IC Markets and City Index Contact Details
Being able to contact an online trading platform easily is vital. IC Markets and City Index have the following contact details and social medias that you can use.
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| Broker | IC Markets | City Index |
| Telephone Number | +248 467 19 76 | +44 20 7107 7020 |
| support@icmarkets.com | support@cityindex.co.uk | |
| Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | Devon House, 58 St Katharine's Way, St Katharine's & Wapping, London, Greater London E1W 1JP |
| IC Markets Twitter Account | City Index Twitter Account | |
| IC Markets Facebook Page | City Index Facebook Page | |
| IC Markets Instagram Account | City Index Instagram Account | |
| IC Markets LinkedIn Page | City Index LinkedIn Page | |
| YouTube | IC Markets YouTube Channel | City Index YouTube Channel |
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City Index and IC Markets Mobile App Comparison
It is becoming increasingly important for brokers to offer simple-to-use apps that provide the same services as desktop platforms.
This part of comparing IC Markets and City Index will examine whether their mobile app meets all our requirements.
Overall, we rate the user-friendliness of both apps as better than average.
It is important that any trading app has user friendly capabilities especially with the
Search Functions
While most brokers are good at this, there are some poor ones. If you type 'Emerging markets' into the search box, the software will find all Emerging market ETFs, even if the name doesn't begin with 'emerging'. If you have only traded US stocks, and you start typing 'Apple', will the software show you either the obscure Irish stock Applegreen or the Apple stock?
IC Markets vs City Index - Awards
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| Broker | IC Markets | City Index |
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IC Markets have won many industry awards over the years they have been running as a financial broker. We show the most notable awards for IC Markets below.
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At the time of writing this City Index review, and despite City Index’s impressive offering, the company has surprisingly not garnered any awards to date. |
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IC Markets vs City Index - Frequently Asked Questions
IC Markets vs City Index - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its head office in Australia.
City Index was founded in 1983 and has its head office in UK.
What is the minimum deposit for City Index or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for City Index is $25.
Depending on your circumstances, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both IC Markets and City Index are a good option.
IC Markets vs City Index - Regulation And Licencing In More Detail
IC Markets is regulated by Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC).
City Index is regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS).
Both IC Markets and City Index have a strong collection of rules for ensuring fair trading on their platforms. For data encryption functions, they provide industry-standard secure socket layers (SSL).
As per their privacy regulations, client information is to not be shared with any other institutions or individuals. Including credit history and other financial information.
Compare IC Markets vs City Index Commission And Fees
IC Markets and City Index are online brokerage platforms, and most online brokerages charge lower prices than traditional brokerages tend to charge. The cause of this is that the companies of online trading platforms are scaled much better. That is, an internet broker is not necessarily affected by the number of customers they have.
But this doesn't mean that online brokers do not charge any fees. They charge prices of varying rates for a variety of services to make money. There are mainly three types of penalties for this purpose.
The first sort of fees to keep an eye out for are trading charges. Whenever you make a genuine trade, like purchasing a stock or an ETF, you're charged trading fees. In these instances, you are spending a spread, financing rate, or a commission. The sorts of trading charges and the rates differ from broker to broker.
Commissions can be fixed or dependent on the traded volume. On the flip side, a spread refers to the difference between the buying and selling cost. Funding or overnight rates are people that are charged when you maintain a leveraged position for more than daily.
Apart from trading fees, online brokers also bill non-trading fees. These are dependent on the activities you undertake in your account. They are charged for operations like depositing cash, not investing for lengthy periods, or withdrawals.
In general, neither IC Markets or City Index charge high fees compared to other online brokers. For operations other brokers fee for, they do not charge a broker fee, or they charge a smaller sum. This can be beneficial for those who regularly exchange, for example daily or weekly trading.
But, non-trading fees charged by IC Markets and City Index are comparatively lower. Consequently, you are billed more for non-trading activities in your trading account, such as withdrawal and deposits. These aren't related to the sale and purchase of resources.
This IC Markets vs City Index review for 2023 breaks down every one of the applicable non-trading fees for you in detail.
Compare Broker Fees For IC Markets And City Index
What Languages Do IC Markets And City Index Support?
Being able to talk easily with your trading platform is a key way of comparing online brokers to find your perfect broker. Not only for support but to ensure you completely understand everything on their website and inside their app as it is a key factor to success when trading forex.
Below you will find all the languages that both IC Markets and City Index offer communication in.
How Many Clients Do IC Markets and City Index Have?
Both IC Markets and City Index are well established with their client base. It is important to work with a broker you can trust and one of the most simple ways of understanding this is by knowing how many customers are using their services.
Below you will find details of how many customers IC Markets and City Index are working with
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| Broker | IC Markets | City Index |
| Clients / Users | 60,000+ | 14,000+ |
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What Payment Methods Do IC Markets and City Index Accept?
IC Markets and City Index both offer a wide range of payment options which is vital when you have a global customer base.
Below you will find details of all the payment options available at IC Markets and City Index
What Can You Trade With IC Markets and City Index?
IC Markets offers 232 trading instruments while City Index offers 12,500.
Below you will find a full breakdown of what both IC Markets and City Index offer.
Compare IC Markets To All Other Brokers
Compare City Index To All Other Brokers