City Index
forexite
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Overview
City Index was founded in 1983 and is headquartered in UK, while forexite was established in 2010 and is based in Switzerland. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. City Index serves 14,000+ clients worldwide; forexite has 10,000+. The minimum deposit is $25 at City Index and $250 at forexite.
| Feature | City Index | forexite |
|---|---|---|
| Min. Deposit | $25 | $250 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F229 |
| Founded | 1983 | 2010 |
| Country | UK | Switzerland |
| Clients | 14,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between City Index and forexite, directly affecting your bottom line as a trader. City Index has a lower barrier to entry with a minimum deposit of $25 (vs $250 at forexite). Both brokers charge withdrawal fees. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. City Index charges deposit fees; forexite does not. Overall, City Index scores higher on fees in our assessment.
| Feature | City Index | forexite |
|---|---|---|
| Min. Deposit | $25 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
City Index offers MT4, MT5, cTrader, while forexite supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | City Index | forexite |
|---|---|---|
| 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, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how City Index and forexite compare. forexite runs regular live webinars; City Index does not. forexite has a video library; City Index does not. forexite publishes daily market commentary; City Index does not. forexite integrates third-party research tools (Trading Central); City Index does not. forexite maintains an archive of past webinars for on-demand viewing. forexite scores higher overall in education and research.
| Feature | City Index | forexite |
|---|---|---|
| Forex Education | No | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| 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 forexite supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). forexite uniquely supports Skrill and Neteller among the two brokers. forexite scores higher on deposit and withdrawal flexibility.
| Feature | City Index | forexite |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
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 forexite offer live chat support. Both provide phone support. Email support is available at both brokers. City Index supports 6 languages and forexite supports 8, giving forexite broader global reach. Both brokers are comparable on support quality.
| Feature | City Index | forexite |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, German, Arabic, Polish, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |