City Index
First Trade
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Overview
City Index was founded in 1983 and is headquartered in UK, while First Trade was established in 2008 and is based in USA. City Index holds licences including Financial Conduct Authority (FCA), while First Trade is regulated by Securities and Exchange Commission (SEC) among others. City Index serves 14,000+ clients worldwide; First Trade has 10,000+. The minimum deposit is $25 at City Index and $5 at First Trade.
| Feature | City Index | First Trade |
|---|---|---|
| Min. Deposit | $25 | $5 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS) | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) |
| Founded | 1983 | 2008 |
| Country | UK | USA |
| Clients | 14,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between City Index and First Trade, directly affecting your bottom line as a trader. City Index has a lower barrier to entry with a minimum deposit of $25 (vs $5 at First Trade). Both brokers charge withdrawal fees. City Index applies inactivity fees on dormant accounts; First Trade does not. City Index charges deposit fees; First Trade does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | City Index | First Trade |
|---|---|---|
| Min. Deposit | $25 | $5 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | Yes | No |
Platforms
City Index offers MT4, MT5, cTrader, while First Trade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. City Index supports social and copy trading features, which First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | City Index | First Trade |
|---|---|---|
| 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,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how City Index and First Trade compare. First Trade runs regular live webinars; City Index does not. First Trade has a video library; City Index does not. First Trade publishes daily market commentary; City Index does not. First Trade integrates third-party research tools (Trading Central, Autochartist); City Index does not. First Trade maintains an archive of past webinars for on-demand viewing. First Trade scores higher overall in education and research.
| Feature | City Index | First Trade |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | Yes |
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 First Trade 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 | First Trade |
|---|---|---|
| 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 First Trade offer live chat support. Both provide phone support. Email support is available at both brokers. City Index supports 6 languages and First Trade supports 2, giving City Index broader global reach. Both brokers are comparable on support quality.
| Feature | City Index | First Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, German, Arabic, Polish, and Chinese | English, and Chinese |