City Index
XM
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Overview
City Index was founded in 1983 and is headquartered in UK, while XM was established in 2009 and is based in Cyprus. City Index holds licences including Financial Conduct Authority (FCA), while XM is regulated by International Financial Services Commission(IFSC) among others. City Index serves 14,000+ clients worldwide; XM has 3,500,000+. The minimum deposit is $25 at City Index and $5 at XM.
| Feature | City Index | XM |
|---|---|---|
| Min. Deposit | $25 | $5 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS) | International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) |
| Founded | 1983 | 2009 |
| Country | UK | Cyprus |
| Clients | 14,000+ | 3,500,000+ |
Fees
Fees are a critical factor when choosing between City Index and XM, directly affecting your bottom line as a trader. City Index has a lower barrier to entry with a minimum deposit of $25 (vs $5 at XM). City Index charges withdrawal fees while XM does not, a notable advantage for frequent withdrawers. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. City Index charges deposit fees; XM does not. Overall, XM scores higher on fees in our assessment.
| Feature | City Index | XM |
|---|---|---|
| Min. Deposit | $25 | $5 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
City Index offers MT4, MT5, cTrader, while XM 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 | XM |
|---|---|---|
| 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, 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 XM compare. XM runs regular live webinars; City Index does not. XM has a video library; City Index does not. XM publishes daily market commentary; City Index does not. XM integrates third-party research tools (Trading Central); City Index does not. XM maintains an archive of past webinars for on-demand viewing. XM scores higher overall in education and research.
| Feature | City Index | XM |
|---|---|---|
| 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 XM supports 3 (bank transfer, credit/debit card, Neteller). City Index uniquely supports PayPal among the two brokers. XM uniquely supports Neteller among the two brokers. City Index scores higher on deposit and withdrawal flexibility.
| Feature | City Index | XM |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | No | No |
| 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 XM offer live chat support. Both provide phone support. Email support is available at both brokers. City Index supports 6 languages and XM supports 20, giving XM broader global reach. Both brokers are comparable on support quality.
| Feature | City Index | XM |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, German, Arabic, Polish, and Chinese | Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish |