image City Index VISIT CITY INDEX image Saxo Capital Markets VISIT SAXO CAPITAL MARKETS image XTB VISIT XTB
About

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Saxo Capital Markets is regulated by the Financial Conduct Authority. Saxo Capital Markets have provided Forex, CFD, Binary options, Indices, CFDs, ETF & ETCs, Bonds and Stocks trading services since 2012.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

Why choose them?
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
  • Yes Over 6 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters London, UK London, UK Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting Yes No No
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 84 180 48
Commodities Offered 26 70 21
Stocks Offered 4500 19000 1606
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks Yes No Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE Yes Yes No
Dow Jones Yes Yes No
Dax Yes Yes Yes
Nikkei Yes No Yes
ETFs Yes Yes Yes
IPO No No No
See all instruments

72% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

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

See all instruments

77% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes No Yes
MT5 No No No
MT4 Mac No Yes Yes
WebTrader Yes Yes Yes
Mirror Trader No No Yes
ZuluTrade No No No
Sirix No No No
cTrader No No No
L2 Dealer No No No
PAMM Yes No No
Custom Platforms AT Pro, Advantage Web SaxoTrader Xstation5

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes Yes
Available Languages

English, Spanish, German, Arabic, Polish, and Chinese

Arabic, Chinese, Czech, Danish, Dutch, English, Finnish, French, German, Greek, Hungarian, Italian, Norwegian, Polish, Romanian, Russian, Slovenian, and Spanish

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish

See platform & features

72% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

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

See platform & features

77% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by City Index and Saxo Capital Markets

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account Yes No Yes
Standard account Yes Yes Yes
ECN Account No Yes No
Islamic account No No Yes
Zero spread account No No No
VIP account No No No
Fixed spreads Yes No Yes
Variable spreads Yes Yes Yes
See account options

72% of retail investor accounts lose money when trading CFDs with this provider

See account options

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

See account options

77% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping No Yes Yes
Hedging Yes No Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No Yes No
Direct market access No No Yes
STP broker Yes Yes Yes
Market maker Yes Yes Yes
Min trade 1 Lot 0.01 Lot 0.01 Lot
Max trade Varies None 100 Lot
Min deposit $25 6,500 $1

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller No No Yes
Skrill No No No
Payment processing time 2-3 business days Varies Varies
Withdrawal processing time 2-3 business days Varies Varies
See all funding options

72% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

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

See all funding options

77% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US US US,IN,PK,BD,IQ,IR,IL,AF,AU,CA
Contact email Send Email Send Email Send Email
phone number 0845 355 0801 No 44 2036953085
Live Chat Yes No Yes
Website www.cityindex.co.uk http://uk.saxomarkets.com/ www.xtb.com
Forex Spreads
EUR/USD 0.50 0.10 0.20
GBP/USD 0.80 1.50 0.10
USD/JPY 0.50 1.10 0.014
AUD/USD 0.5 0.4 0.3
Cryptocurrency Spreads 70 N/A 1
View all FX spreads

72% of retail investor accounts lose money when trading CFDs with this provider

View all FX spreads

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

View all FX spreads

77% of retail investor accounts lose money when trading CFDs with this provider.

INDICE SPREADS
Dax 30 1.0 1 0.9
Nasdaq 100 1.0 0.5 0.08%
Euro Stoxx 50 2.0 1.75 4.40
ASX 200 1.0
S&P 500 0.4 0.4 0.10
FTSE 100 1.0 0.85 0.50
Google 0.0015 N/A 0.08%
Facebook 0.0015 N/A 0.08%
View all spreads

72% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

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

View all spreads

77% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee Yes No No
Commission 0.0015 Yes Yes
Deposit Fee Varies No No
Withdrawal Fee Varies No No
View All Fees

72% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

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

View All Fees

77% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from www.cityindex.co.uk. Last updated on 01/05/2019.

All information collected from http://uk.saxomarkets.com/. Last updated on 01/05/2019.

All information collected from www.xtb.com. Last updated on 01/05/2019.

Company

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including incidices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

For more information about trading with City Index, we have put together an indepth City Index review with some of the pros and cons about this broker.

Saxo Capital Markets provides both retail and institutional traders access to FX, CFDs, ETFs, Stocks, Futures and Options markets using their award winning SaxoTrader platform providing traders the speed and performance you need. They are a trusted broker regulated by the Financial Conduct Authority in the UK. Saxo Capital Markets has access to over 30, 000 assets including over 19, 000 stocks and 9000 CFDs. With over 20 years in electronic trading, Saxo Capital Markets is a broker you can trust.

For more information about trading with Saxo Capital Markets, we have put together an indepth Saxo Capital Markets review with all the pros and cons about this broker.

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

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City Index or Saxo Capital Markets?

Low spreads or ECN execution?

If you’re a trader looking for a broker with low spreads on popular instruments like EUR/USD, City Index is likely a better option. However, if you want a broker with ECN execution, Saxo Capital Markets may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider City Index to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

City Index is regulated by Financial Conduct Authority, ASIC and MAS, while Saxo Capital Markets is regulated by Financial Conduct Authority.

As the Financial Conduct Authority are one of the most stringent regulators in the world, both City Index and Saxo Capital Markets will have very strict guidelines to follow to ensure they protect their retail trader clients.

XTB are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

City Index has been around for 36 years, while Saxo Capital Markets have been around for 7 years. Our third alternative broker, XTB, have been around for 17 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both City Index and Saxo Capital Markets use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on City Index or Saxo Capital Markets in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

City Index is more popular with over 140,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

City Index is a privately owned company, while on the other hand Saxo Capital Markets is still a publicly listed company.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Both City Index and Saxo Capital Markets are based in London, UK.

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both City Index and Saxo Capital Markets offer forex trading. Saxo Capital Markets have a slightly larger variety of currency pairs with 180 pairs, compared to 84 offered by City Index. Also, if you’re looking to trade cryptocurrencies, City Index offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both City Index and Saxo Capital Markets allow you to trade commodities like gold, silver and crude oil.

Platforms & Account Types

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. City Index, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

City Index does not allow scalping but allows hedging. While Saxo Capital Markets also allows scalping but doesn't allow hedging. You can trade with EAs (expert advisors) on both City Index and Saxo Capital Markets.

In terms of risk management tools, neither City Index or Saxo Capital Markets offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

City Index also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

City Index accept Payoneer while Saxo Capital Markets accept Payoneer.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, City Index charges 0.50 points, while Saxo Capital Markets charges 0.10 points. Therefore, Saxo Capital Markets is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: City Index or Saxo Capital Markets?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, City Index is more reliable based on our criteria above. Saxo Capital Markets has a wider range of instruments to trade. Saxo Capital Markets offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.