City Index
IC Markets
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Overview
City Index was founded in 1983 and is headquartered in UK, while IC Markets was established in 2007 and is based in Australia. City Index holds licences including Financial Conduct Authority (FCA), while IC Markets is regulated by Australian Securities and Investment Commission (ASIC) among others. City Index serves 14,000+ clients worldwide; IC Markets has 60,000+. The minimum deposit is $25 at City Index and $200 at IC Markets.
| Feature | City Index | IC Markets |
|---|---|---|
| Min. Deposit | $25 | $200 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS) | Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 1983 | 2007 |
| Country | UK | Australia |
| Clients | 14,000+ | 60,000+ |
Fees
Fees are a critical factor when choosing between City Index and IC Markets, directly affecting your bottom line as a trader. IC Markets has a lower barrier to entry with a minimum deposit of $200 (vs $25 at City Index). City Index charges withdrawal fees while IC Markets does not, a notable advantage for frequent withdrawers. City Index applies inactivity fees on dormant accounts; IC Markets does not. City Index charges deposit fees; IC Markets does not. Overall, City Index scores higher on fees in our assessment.
| Feature | City Index | IC Markets |
|---|---|---|
| Min. Deposit | $25 | $200 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | Yes | Yes |
Platforms
City Index offers MT4, MT5, cTrader, while IC Markets 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 | IC Markets |
|---|---|---|
| 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, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how City Index and IC Markets compare. IC Markets runs regular live webinars; City Index does not. IC Markets has a video library; City Index does not. IC Markets publishes daily market commentary; City Index does not. IC Markets integrates third-party research tools (Trading Central, Autochartist); City Index does not. IC Markets maintains an archive of past webinars for on-demand viewing. IC Markets scores higher overall in education and research.
| Feature | City Index | IC Markets |
|---|---|---|
| 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 IC Markets supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). IC Markets uniquely supports Skrill and Neteller among the two brokers. IC Markets scores higher on deposit and withdrawal flexibility.
| Feature | City Index | IC Markets |
|---|---|---|
| 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 IC Markets offer live chat support. Both provide phone support. Email support is available at both brokers. City Index supports 6 languages and IC Markets supports 8, giving IC Markets broader global reach. Both brokers are comparable on support quality.
| Feature | City Index | IC Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, German, Arabic, Polish, and Chinese | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more |