City Index
questrade
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Overview
City Index was founded in 1983 and is headquartered in UK, while questrade was established in 2019 and is based in New Zealand. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. City Index serves 14,000+ clients worldwide; questrade has 10,000+. The minimum deposit is $25 at City Index and $250 at questrade.
| Feature | City Index | questrade |
|---|---|---|
| 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-F298 |
| Founded | 1983 | 2019 |
| Country | UK | New Zealand |
| Clients | 14,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between City Index and questrade, 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 questrade). City Index charges withdrawal fees while questrade does not, a notable advantage for frequent withdrawers. City Index applies inactivity fees on dormant accounts; questrade does not. City Index charges deposit fees; questrade does not. Overall, City Index scores higher on fees in our assessment.
| Feature | City Index | questrade |
|---|---|---|
| Min. Deposit | $25 | $250 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | Yes |
Platforms
City Index offers MT4, MT5, cTrader, while questrade 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 | questrade |
|---|---|---|
| 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 questrade compare. questrade runs regular live webinars; City Index does not. questrade has a video library; City Index does not. questrade publishes daily market commentary; City Index does not. questrade integrates third-party research tools (Trading Central); City Index does not. questrade maintains an archive of past webinars for on-demand viewing. questrade scores higher overall in education and research.
| Feature | City Index | questrade |
|---|---|---|
| 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 questrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). questrade uniquely supports Skrill and Neteller among the two brokers. questrade scores higher on deposit and withdrawal flexibility.
| Feature | City Index | questrade |
|---|---|---|
| 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 questrade offer live chat support. Both provide phone support. Email support is available at both brokers. City Index supports 6 languages and questrade supports 8, giving questrade broader global reach. Both brokers are comparable on support quality.
| Feature | City Index | questrade |
|---|---|---|
| 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 |