City Index
Finmax
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Overview
City Index was founded in 1983 and is headquartered in UK, while Finmax was established in 2008 and is based in Bulgaria. City Index holds licences including Financial Conduct Authority (FCA), while Finmax is regulated by Financial Services Authority (FSA) among others. City Index serves 14,000+ clients worldwide; Finmax has 10,000+. The minimum deposit is $25 at City Index and $0 at Finmax.
| Feature | City Index | Finmax |
|---|---|---|
| Min. Deposit | $25 | $0 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS) | Financial Services Authority (FSA) |
| Founded | 1983 | 2008 |
| Country | UK | Bulgaria |
| Clients | 14,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between City Index and Finmax, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $25 at City Index). City Index charges withdrawal fees while Finmax does not, a notable advantage for frequent withdrawers. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. City Index charges deposit fees; Finmax does not. Overall, Finmax scores higher on fees in our assessment.
| Feature | City Index | Finmax |
|---|---|---|
| Min. Deposit | $25 | $0 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
City Index offers MT4, MT5, cTrader, while Finmax supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. City Index supports social and copy trading features, which Finmax does not offer. The two brokers are closely matched on platform offering.
| Feature | City Index | Finmax |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, Web Trader, Tablet & Mobile apps | MT4,MT5 |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how City Index and Finmax compare. The two brokers are evenly matched on educational content.
| Feature | City Index | Finmax |
|---|---|---|
| Forex Education | No | No |
| CFD Education | No | No |
| Weekly Webinars | No | No |
| Daily Commentary | No | No |
| Trading Central | No | No |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. City Index accepts 3 of the tracked payment methods (bank transfer, credit/debit card, PayPal), while Finmax supports 2 (bank transfer, credit/debit card). City Index uniquely supports PayPal among the two brokers. City Index scores higher on deposit and withdrawal flexibility.
| Feature | City Index | Finmax |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both City Index and Finmax offer live chat support. Both provide phone support. Email support is available at both brokers. City Index supports 6 languages and Finmax supports 2, giving City Index broader global reach. Both brokers are comparable on support quality.
| Feature | City Index | Finmax |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, German, Arabic, Polish, and Chinese | English, and Chinese |