Best City Index Alternatives
City Index is a global forex and CFD broker founded in 1983. City Index is a well-regulated broker that provides its clients with access to over 12,000 markets including FX, indices, stocks, commodities, and cryptocurrencies.
You can say with confidence that the broker has been in business for 38 years and has significant financial backing from its publicly traded parent firm, Gain Capital.
You can learn more about the broker in our City Index review.
As a trader, you may have different requirements, and you want to take a deep dive before choosing your broker.
Therefore, you many look for City Index alternatives.
Here you can look at why we have chosen such brokers as an alternative to City Index:
| City Index Alternatives | Alternative for: | Minimum Deposit |
|---|---|---|
| FXCM | Fast order execution, Spread betting | $50 |
| Plus500 | Total number of assets, Unlimited demo account | $100 |
| XTB | Total number of assets, Unlimited demo account | $0 |
| eToro | Real Crypto&Stock trading, Social-Copy trading | $200 |
| AvaTrade | Fixed spreads, Spread Betting account | $100 |
| IG Markets | Total number of assets, Unlimited demo account | $250 |
| XM | Lower minimum deposit, Total number of assets | $5 |
| ActivTrades | No register demo, Spread Betting | $1000 |
| CMC Markets | Low spread, Total number of assets | $0 |
| IC Markets | Low spreads, Scalping, Unlimited demo account | $0 |
WARNING
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money
Table of contents
City Index Low Spread Alternatives
Because each price fluctuation matters in trading, you want the smallest spreads possible. Spreads become more critical if you are a short-term trader, because anything can happen within seconds.
Checkout the top 10 lowest spread forex brokers.
| Broker | Minimum Deposit | Avg. Spread EUR/USD |
|---|---|---|
| FXCM | $50 ($300 for UK and EU traders) | 0.2 pips |
| Plus500 | $100 | 0.6 pips |
| XTB | $0 | 0.9 pips |
| IG Markets | $250 | 0.6 pips |
| XM | $5 | 0.1 pips |
| CMC Markets | $0 | 0.7 pips |
| IC Markets | $0 | 0.1 pips |
City Index Spread Betting Alternatives
Spread betting is a way of speculating on the price movement of multiple of global financial assets. City Index provides spread betting options for traders from the UK and Ireland.
You can also check our top 10 UK spread betting forex brokers list.
| Broker | Minimum Deposit | Minimum Bet |
|---|---|---|
| FXCM | $50 ($300 for UK and EU traders) | 7p or 7 cents |
| AvaTrade | $100 | 0.1 standard lots |
| IG Markets | $250 | N/A |
| ActivTrades | $1000 | 10p per point |
| CMC Markets | $0 | N/A |
City Index Minimum Deposit Alternatives
When trading with City Index, you have a minimum deposit of 100 USD, EUR, or GBP. Perhaps you might opt for low minimum deposit broker.
So, here are the top 10 low no minimum deposit brokers.
| Broker | Minimum Deposit | Base Currencies |
|---|---|---|
| FXCM | $50 | USD, EUR, GBP |
| XTB | $0 | EUR, GBP, USD |
| XM | $5 | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB |
| CMC Markets | $0 | GBP, EUR, USD, AUD, CAD, NOK, NZD, PLN, SEK, SGD |
| IC Markets | $0 | USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, CAD |
Choosing a City Index Alternative: main perks and characteristics
City Index is a great CFD and forex broker that is regulated by top-tier financial regulators such as the FCA in the United Kingdom.
City Index is a good choice for beginner and mid-level traders looking for high-quality research, solid education, dependable customer support, and a diverse assortment of economically priced markets. The GAIN relationship contributes significantly to trust, as does the broker’s 36-year history and London location.
Forex via MT4, CFDs, and spread bets are available, as are CFDs, spread bets, and options on indices, equities, commodities, metals, bonds, interest rates, and cryptocurrencies.
To top it off, the broker provides competitive spreads strating from 0.5 pips on EUR/USD.
If you are interexsted to know more, you can take a look at our City Index review.
What is City Index missing?
On the plus side, City Index charges minimal forex fees, has a simple account setup process, and offers high-quality research tools.
However, it does have significant downsides. The prices for stock CFDs are rather exorbitant, and the desktop platform lags behind its competitors.
You can check our list of top 10 best forex brokers in the world.
Here’s what City Index is missing:
- Not available in the USA
- Copy Trading
- Social Trading
- MT5 trading platform
- cTrader trading platform
- Unlimited demo account
City Index Alternatives Comparison
WARNING
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money
| Feature | Minimum Deposit | Proprietary Platform | Fixed Spreads | Execution | Real assets |
|---|---|---|---|---|---|
| City Index | $10 | Yes | Yes | Market Maker | Yes |
| FXCM | $50 | Yes | No | STP | No |
| Plus500 | $100 | Yes | No | Market Maker | No |
| XTB | $0 | Yes | No | Market Maker | No |
| eToro | $200 | Yes | No | STP | Yes |
| AvaTrade | $100 | Yes | Yes | Market Maker | No |
| IG Markets | $250 | Yes | No | Market Maker | No |
| XM | $5 | No | No | Market Maker | No |
| ActivTrades | $1000 | Yes | No | Market Maker | No |
| CMC Markets | $0 | Yes | No | DMA | Yes (Australia only) |
| IC Markets | $0 | No | No | ECN | No |
City Index Alternatives FAQ
What is City Index’s best alternative?
FXCM is the best alternative to City Index. Down to specific matters, XM and IC Markets are best for low spreads, AvaTrade and CMC Markets are best for spread betting. Regarding minimum deposit, CMC Markets and IC Markets takes the lead.
Is City Index a good broker?
Yes, City Index is a reliable broker. It is highly regulated by some of the best respected bodies such as ASIC and FCA. Furthermore, your funds are securely held in segregated bank accounts so the broker won’t be able to use them in case of insolvency or bankruptcy.
About the Author
Anthony Gallagher
Anthony is a financial journalist and business advisor with several years’ experience writing for some of the most well-known sites in the Forex world.
A trader turned industry writer, he is currently based in Shanghai with a finger on the pulse of Asia’s biggest markets.
He is a keen golfer with a very high handicap so when not helping you find the best broker for your needs, you may find him on the course or just as likely following any number of sports from the comfort of his sofa.
