City Index
mgk global
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
City Index was founded in 1983 and is headquartered in UK, while mgk global was established in 2011 and is based in Cayman Islands. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. City Index serves 14,000+ clients worldwide; mgk global has 10,000+. The minimum deposit is $25 at City Index and $250 at mgk global.
| Feature | City Index | mgk global |
|---|---|---|
| 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-F278 |
| Founded | 1983 | 2011 |
| Country | UK | Cayman Islands |
| Clients | 14,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between City Index and mgk global, 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 mgk global). Both brokers charge withdrawal fees. City Index applies inactivity fees on dormant accounts; mgk global does not. City Index charges deposit fees; mgk global does not. Overall, City Index scores higher on fees in our assessment.
| Feature | City Index | mgk global |
|---|---|---|
| Min. Deposit | $25 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | Yes | Yes |
Platforms
City Index offers MT4, MT5, cTrader, while mgk global supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. City Index supports social and copy trading features, which mgk global does not offer. The two brokers are closely matched on platform offering.
| Feature | City Index | mgk global |
|---|---|---|
| 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 mgk global compare. mgk global runs regular live webinars; City Index does not. mgk global has a video library; City Index does not. mgk global publishes daily market commentary; City Index does not. mgk global integrates third-party research tools (Trading Central, Autochartist); City Index does not. mgk global maintains an archive of past webinars for on-demand viewing. mgk global scores higher overall in education and research.
| Feature | City Index | mgk global |
|---|---|---|
| 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 mgk global supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). mgk global uniquely supports Skrill and Neteller among the two brokers. mgk global scores higher on deposit and withdrawal flexibility.
| Feature | City Index | mgk global |
|---|---|---|
| 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 mgk global offer live chat support. Both provide phone support. Email support is available at both brokers. City Index supports 6 languages and mgk global supports 8, giving mgk global broader global reach. Both brokers are comparable on support quality.
| Feature | City Index | mgk global |
|---|---|---|
| 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 |