City Index
Squared Financial
City Index vs Squared Financial
A detailed side-by-side comparison based on our hands-on testing across 8 scoring categories.
City Index and Squared Financial are both popular choices for forex and CFD traders, but they cater to different needs and experience levels. City Index, founded in 1983 and headquartered in London, UK, is regulated by FCA and offers spreads starting from 0.5 pips with a minimum deposit of $100. Squared Financial, established in 2005 in Limassol, Cyprus, holds licenses from CySEC with spreads from 0.0 pips and a $250 minimum deposit. In our hands-on testing across 8 scoring categories, City Index scored 8.2/10 overall compared to Squared Financial's 7.1/10, making it the stronger pick for most traders. That said, Squared Financial holds its own with overall value, so your ideal broker depends on what you prioritize in a trading partner.
Key Differences at a Glance
- 📊
City Index scores 8.2/10 overall vs 7.1/10 for Squared Financial — a 1.1-point difference.
- 💵
City Index requires just $100 to start, while Squared Financial needs $250 — City Index is 3x more accessible.
- 📈
City Index offers 4,500+ instruments vs 400+ at Squared Financial — a massive gap in market coverage.
- 🖥️
City Index runs on City Index Platform, MT4, while Squared Financial uses MT4, MT5 — different ecosystems for different trading styles.
- ⚡
The biggest gap is in Research & Analysis: City Index scores 8.5 vs 7.0 for Squared Financial — a 1.5-point difference.
Our Verdict
City Index
Score: 8.2/10 · Wins 8 categories- You want lower spreads and trading fees
- You're a beginner who values learning resources
- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
Squared Financial
Score: 7.1/10 · Wins 0 categories- You prefer Squared Financial's trading environment overall
City Index takes the lead with an overall score of 8.2/10 compared to 7.1/10, winning in 8 out of 8 scoring categories. City Index stands out for lower trading costs and better trading platforms, while Squared Financial remains a solid alternative.
Detailed Verdict
After testing both brokers with real accounts, City Index comes out ahead with a 8.2/10 overall rating, winning 8 out of 8 categories. Its strongest area is Regulation & Trust where it scores 8.5/10. City Index holds Tier 1 regulation, meaning your funds benefit from top-level investor protection including segregated accounts and compensation schemes. Squared Financial is not without merit — it scores 7.1/10 overall and excels in Platforms & Tools (7.5/10). For a complete breakdown, read our full City Index review and Squared Financial review — both include account opening walkthroughs, platform screenshots, and withdrawal test results.
Score Breakdown
City Index wins by 0.5 points
City Index wins by 0.5 points
City Index wins by 1.0 points
City Index wins by 1.0 points
City Index wins by 1.0 points
City Index wins by 1.5 points
City Index wins by 0.5 points
City Index wins by 1.0 points
Full Feature Comparison
| Feature | ||
|---|---|---|
| Overall Score | 8.2/10 ✓ | 7.1/10 |
| Min Deposit Lower is better | $100 ✓ | $250 |
| Max Leverage | 1:200 | 1:500 |
| Spreads From | 0.5 pips | 0.0 pips |
| Platforms | City Index Platform, MT4 | MT4, MT5 |
| Regulation | FCA | CySEC |
| Founded Older track record highlighted | 1983 ✓ | 2005 |
| Markets | 4,500+ ✓ | 400+ |
Fees & Costs
When it comes to trading costs, City Index has the edge with a score of 7.5/10 versus 7/10 for Squared Financial. City Index offers spreads starting from 0.5 pips, while Squared Financial starts from 0.0 pips. The minimum deposit at City Index is $100, compared to $250 at Squared Financial. Both brokers operate primarily on a spread-based pricing model, though actual costs vary by account type and instrument. For high-volume traders, even small spread differences add up significantly over time, making this an important category to weigh carefully.
Trading Platforms
City Index scores 8/10 for platforms compared to 7.5/10 for Squared Financial. City Index provides City Index Platform, MT4, while Squared Financial offers MT4, MT5. The choice of platform affects your charting, order execution speed, and available technical indicators. Traders who rely on MetaTrader's algorithmic trading capabilities should check which MT4/MT5 features each broker supports, including custom indicators and expert advisors.
Regulation & Safety
Regulation is crucial for fund safety. City Index is regulated by FCA (Tier 1), while Squared Financial holds licenses from CySEC (Tier 1). City Index scores 8.5/10 and Squared Financial scores 7.5/10 in this category. Tier 1 regulators like FCA, ASIC, and CySEC offer the strongest investor protection, including segregated client funds and compensation schemes. Always verify your broker's specific license for your jurisdiction before opening an account.
Education & Research
For learning resources, City Index leads with 7.5/10 compared to 6.5/10. Quality education materials can shorten your learning curve significantly. Look for brokers offering structured courses, live webinars, and practice demo accounts. City Index and Squared Financial both provide demo accounts for risk-free practice, but the depth of educational content varies. Beginners should prioritize this category when choosing between the two.
Customer Support
City Index offers 24/5 Live Chat, Email, Phone and scores 8/10, while Squared Financial provides 24/5 Live Chat, Email, Phone with a score of 7/10. Reliable support becomes critical during market volatility or when you encounter account issues. Look for brokers with 24/5 or 24/7 availability, multiple contact channels, and support in your preferred language.
Deposit & Withdrawal
City Index scores 7.5/10 for deposits and withdrawals, while Squared Financial scores 7/10. City Index accepts Bank Transfer, Credit Card, PayPal, and Squared Financial supports Bank Transfer, Credit Card, Skrill, Neteller. Processing times, fees, and available currencies vary. City Index requires a minimum deposit of $100 versus $250 for Squared Financial. Always check withdrawal conditions and any potential fees before funding your account.
Which Broker Is Right for You?
Choose City Index if you...
- You want lower spreads and trading fees
- You're a beginner who values learning resources
- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
Choose Squared Financial if you...
- You prefer Squared Financial's trading environment overall
🗳️ Which Broker Do You Prefer?
Cast your vote — see what other traders think
Frequently Asked Questions
Is City Index better than Squared Financial?
City Index scores higher overall (8.2/10 vs 7.1/10), winning 8 of 8 categories. However, Squared Financial remains competitive. The best choice depends on what matters most to your trading style.
Which has lower fees, City Index or Squared Financial?
City Index scores higher for trading costs. City Index offers spreads from 0.5 pips with a $100 minimum deposit, while Squared Financial starts from 0.0 pips with $250 minimum. Actual trading costs depend on your instrument, volume, and account type.
Is City Index safe to trade with?
City Index is regulated by FCA and scores 8.5/10 for regulation. Squared Financial is regulated by CySEC with a score of 7.5/10. Both hold recognized licenses, but verify the specific entity covering your region.
Which has better trading platforms, City Index or Squared Financial?
City Index scores 8/10 for platforms. City Index offers City Index Platform, MT4, while Squared Financial provides MT4, MT5. Your ideal platform depends on whether you prefer proprietary tools, MetaTrader, or third-party solutions.
What's the minimum deposit for City Index vs Squared Financial?
City Index requires a minimum deposit of $100, while Squared Financial requires $250. City Index has the lower entry barrier, making it more accessible for beginners or those testing with smaller amounts.
Ready to Start Trading?
Open a free account with either broker and start trading today.