image City Index VISIT CITY INDEX image Swissquote VISIT SWISSQUOTE image XTB VISIT XTB
About

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

Swissquote is regulated by FINMA (Swiss Financial Market Supervisory Authority). Swissquote have provided Forex, Commodities, Indices, Stocks, Bonds trading services since 1999.

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 19 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 Chemin de la Cretaux 33, 1196 Gland, Switzerland Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting Yes No No
Social Trading No Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 84 138 48
Commodities Offered 26 7 21
Stocks Offered 4500 0 1606
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks Yes Yes Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes Yes No
Dow Jones Yes Yes No
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs Yes No Yes
IPO No No No
See all instruments

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

See all instruments

Losses can exceed deposits

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 Yes Yes
MT5 No Yes No
MT4 Mac No No Yes
WebTrader Yes Yes Yes
Mirror Trader No No Yes
ZuluTrade No Yes No
Sirix No No No
cTrader No No No
PAMM Yes No No
Custom Platforms AT Pro, Advantage Web eTrading 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

English, German, French, Italian, Spanish, Arabic, Russian, and Chinese

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

See platform & features

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

See platform & features

Losses can exceed deposits

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 Swissquote

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

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

See account options

Losses can exceed deposits

See account options

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

TRADING CONDITIONS

Scalping No Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No No No
Direct market access No No Yes
STP broker Yes No Yes
Market maker Yes Yes Yes
Min trade 1 Lot Varies 0.01 Lot
Max trade Varies Varies 100 Lot
Min deposit $25 1,000 $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 Yes 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 1 business day Varies
Withdrawal processing time 2-3 business days 1 business day Varies
See all funding options

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

See all funding options

Losses can exceed deposits

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 41 22 999 94 11 44 2036953085
Live Chat Yes Yes Yes
Website www.cityindex.co.uk http://en.swissquote.com/ www.xtb.com
Forex Spreads
EUR/USD 0.50 0.80 0.20
GBP/USD 0.80 1.00 0.10
USD/JPY 0.50 0.80 0.014
AUD/USD 0.5 1 0.3
Cryptocurrency Spreads 70 N/A 1
View all FX spreads

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

View all FX spreads

Losses can exceed deposits

View all FX spreads

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

INDICE SPREADS
Dax 30 1.0 1.4 0.9
Nasdaq 100 1.0 1.8 0.08%
Euro Stoxx 50 2.0 2 4.40
ASX 200 1.0
S&P 500 0.4 0.6 0.10
FTSE 100 1.0 1.6 0.50
Google 0.0015 0.08%
Facebook 0.0015 0.08%
View all spreads

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

View all spreads

Losses can exceed deposits

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 No Yes
Deposit Fee Varies No No
Withdrawal Fee Varies No No
View All Fees

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

View All Fees

Losses can exceed deposits

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 01/06/2019.

All information collected from http://en.swissquote.com/. Last updated on 01/06/2019.

All information collected from www.xtb.com. Last updated on 01/06/2019.

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 indices, 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.

Swiss based Swissquote is an online trading company that provide everything you need to manage your assets online. With Swissquote you are only one click away from trading in the worlds major stock markets in over 1 million products. They give you access to equities, options and futures, funds, derivatives and more.

Swissquote have been listed on the Swiss Market Exchange for over 15 years have global offices including London, Hong Kong and Dubai and employ over 500 staff. They are a member of the Swiss Bankers Assoication and are also regulated by the Swiss Financial Market Supervisory Authority. Opening an account with Swissquote trading platform will grant you access to a premium financial information and analysis to keep in permanent touch with the markets.

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 Swissquote?

A wide range of instruments or accepts Scalping?

If you’re a trader looking for a broker that offers a wide variety of instruments to trade, City Index is likely the better option out of these brokers. However, if you want a broker that allows you to scalp as a trading strategy, Swissquote may be more suitable.

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 Swissquote 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 Swissquote 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 Swissquote have been around for 20 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 Swissquote 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 Swissquote 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.

Both City Index and Swissquote are privately owned companies.

Where are they located?

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

City Index are based in London, UK, while Swissquote are based in Chemin de la Cretaux 33, 1196 Gland, Switzerland.

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 Swissquote offer forex trading. Swissquote have a slightly larger variety of currency pairs with 138 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 Swissquote allow you to trade commodities like gold, silver and crude oil.

Swissquote also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both City Index and Swissquote offer this. Swissquote also offer the new & improved MT5 platform. Our alternative broker, XTB, also offers MT4 and MT5.

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 Swissquote also allows scalping and hedging. You can trade with EAs (expert advisors) on both City Index and Swissquote.

In terms of risk management tools, neither City Index or Swissquote 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 Swissquote 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 Swissquote charges 0.80 points. Therefore, City Index 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 Swissquote?

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. Swissquote has a wider range of instruments to trade. Swissquote 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.