City Index
Interactive Brokers
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Overview
City Index was founded in 1983 and is headquartered in UK, while Interactive Brokers was established in 1977 and is based in United States. City Index holds licences including Financial Conduct Authority (FCA), while Interactive Brokers is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX among others. City Index serves 14,000+ clients worldwide; Interactive Brokers has 1,000,000+. The minimum deposit is $25 at City Index and $1 at Interactive Brokers.
| Feature | City Index | Interactive Brokers |
|---|---|---|
| Min. Deposit | $25 | $1 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS) | the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917). |
| Founded | 1983 | 1977 |
| Country | UK | United States |
| Clients | 14,000+ | 1,000,000+ |
Fees
Fees are a critical factor when choosing between City Index and Interactive Brokers, directly affecting your bottom line as a trader. Interactive Brokers has a lower barrier to entry with a minimum deposit of $1 (vs $25 at City Index). Both brokers charge withdrawal fees. City Index applies inactivity fees on dormant accounts; Interactive Brokers does not. City Index charges deposit fees; Interactive Brokers does not. Overall, Interactive Brokers scores higher on fees in our assessment.
| Feature | City Index | Interactive Brokers |
|---|---|---|
| Min. Deposit | $25 | $1 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | Yes |
Platforms
City Index offers MT4, MT5, cTrader, while Interactive Brokers supports MT4, MT5, cTrader, a proprietary platform. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. Interactive Brokers edges ahead on platform breadth and functionality in our scoring.
| Feature | City Index | Interactive Brokers |
|---|---|---|
| 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 | Web Trader, NinjaTrader, 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 Interactive Brokers compare. Interactive Brokers runs regular live webinars; City Index does not. Interactive Brokers has a video library; City Index does not. Interactive Brokers publishes daily market commentary; City Index does not. Interactive Brokers integrates third-party research tools (Trading Central, Autochartist); City Index does not. Interactive Brokers maintains an archive of past webinars for on-demand viewing. Interactive Brokers scores higher overall in education and research.
| Feature | City Index | Interactive Brokers |
|---|---|---|
| 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 Interactive Brokers 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 | Interactive Brokers |
|---|---|---|
| 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 Interactive Brokers offer live chat support. Both provide phone support. Email support is available at both brokers. City Index supports 6 languages and Interactive Brokers supports 2, giving City Index broader global reach. Both brokers are comparable on support quality.
| Feature | City Index | Interactive Brokers |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, German, Arabic, Polish, and Chinese | English, and Chinese |