City Index
Saxo Markets
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Overview
City Index was founded in 1983 and is headquartered in UK, while Saxo Markets was established in 2012 and is based in Denmark. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. City Index serves 14,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $25 at City Index and $6500 at Saxo Markets.
| Feature | City Index | Saxo Markets |
|---|---|---|
| Min. Deposit | $25 | $6500 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS) | Financial Conduct Authority (FCA) |
| Founded | 1983 | 2012 |
| Country | UK | Denmark |
| Clients | 14,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between City Index and Saxo Markets, directly affecting your bottom line as a trader. City Index has a lower barrier to entry with a minimum deposit of $25 (vs $6500 at Saxo Markets). Both brokers charge withdrawal fees. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. City Index charges deposit fees; Saxo Markets does not. Overall, City Index scores higher on fees in our assessment.
| Feature | City Index | Saxo Markets |
|---|---|---|
| Min. Deposit | $25 | $6500 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
City Index offers MT4, MT5, cTrader, while Saxo 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 | Saxo 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 | Mac, Web Trader, 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 Saxo Markets compare. Saxo Markets has a video library; City Index does not. Saxo Markets integrates third-party research tools (Autochartist); City Index does not. Saxo Markets scores higher overall in education and research.
| Feature | City Index | Saxo Markets |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | No |
| Weekly Webinars | No | No |
| Daily Commentary | No | No |
| Trading Central | No | No |
| 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 Saxo Markets 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 | Saxo Markets |
|---|---|---|
| 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 Saxo Markets offer live chat support. Both provide phone support. Email support is available at both brokers. City Index supports 6 languages and Saxo Markets supports 2, giving City Index broader global reach. Both brokers are comparable on support quality.
| Feature | City Index | Saxo Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, German, Arabic, Polish, and Chinese | English, and Chinese |