CMC Markets
City Index
CMC Markets vs City Index
A detailed side-by-side comparison based on our hands-on testing across 8 scoring categories.
CMC Markets and City Index are both popular choices for forex and CFD traders, but they cater to different needs and experience levels. CMC Markets, founded in 1989 and headquartered in London, UK, is regulated by FCA, ASIC, BaFin and offers spreads starting from 0.7 pips with a minimum deposit of $0. City Index, established in 1983 in London, UK, holds licenses from FCA with spreads from 0.5 pips and a $100 minimum deposit. In our hands-on testing across 8 scoring categories, CMC Markets scored 8.8/10 overall compared to City Index's 8.2/10, making it the stronger pick for most traders. That said, City Index holds its own with overall value, so your ideal broker depends on what you prioritize in a trading partner.
Key Differences at a Glance
- 📊
CMC Markets scores 8.8/10 overall vs 8.2/10 for City Index — a 0.6-point difference.
- 💵
CMC Markets requires just $0 to start, while City Index needs $100 — CMC Markets is 100x more accessible.
- 📈
CMC Markets offers 10,000+ instruments vs 4,500+ at City Index — a massive gap in market coverage.
- 🖥️
CMC Markets runs on Next Generation, MT4, while City Index uses City Index Platform, MT4 — different ecosystems for different trading styles.
- ⚡
The biggest gap is in Platforms & Tools: CMC Markets scores 9.5 vs 8.0 for City Index — a 1.5-point difference.
Our Verdict
CMC Markets
Score: 8.8/10 · Wins 7 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
City Index
Score: 8.2/10 · Wins 0 categories- You prefer City Index's trading environment overall
CMC Markets takes the lead with an overall score of 8.8/10 compared to 8.2/10, winning in 7 out of 8 scoring categories. CMC Markets stands out for lower trading costs and better trading platforms, while City Index remains a solid alternative.
Detailed Verdict
After testing both brokers with real accounts, CMC Markets comes out ahead with a 8.8/10 overall rating, winning 7 out of 8 categories. Its strongest area is Platforms & Tools where it scores 9.5/10. CMC Markets holds Tier 1 regulation, meaning your funds benefit from top-level investor protection including segregated accounts and compensation schemes. City Index is not without merit — it scores 8.2/10 overall and excels in Regulation & Trust (8.5/10). For a complete breakdown, read our full CMC Markets review and City Index review — both include account opening walkthroughs, platform screenshots, and withdrawal test results.
Score Breakdown
CMC Markets wins by 0.5 points
CMC Markets wins by 1.5 points
CMC Markets wins by 1.0 points
CMC Markets wins by 0.5 points
CMC Markets wins by 0.5 points
CMC Markets wins by 0.5 points
CMC Markets wins by 1.5 points
Full Feature Comparison
| Feature | ||
|---|---|---|
| Overall Score | 8.8/10 ✓ | 8.2/10 |
| Min Deposit Lower is better | $0 ✓ | $100 |
| Max Leverage | 1:500 | 1:200 |
| Spreads From | 0.7 pips | 0.5 pips |
| Platforms | Next Generation, MT4 | City Index Platform, MT4 |
| Regulation | FCA, ASIC, BaFin | FCA |
| Founded Older track record highlighted | 1989 | 1983 ✓ |
| Markets | 10,000+ ✓ | 4,500+ |
Fees & Costs
When it comes to trading costs, CMC Markets has the edge with a score of 8/10 versus 7.5/10 for City Index. CMC Markets offers spreads starting from 0.7 pips, while City Index starts from 0.5 pips. The minimum deposit at CMC Markets is $0, compared to $100 at City Index. 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
CMC Markets scores 9.5/10 for platforms compared to 8/10 for City Index. CMC Markets provides Next Generation, MT4, while City Index offers City Index Platform, MT4. 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. CMC Markets is regulated by FCA, ASIC, BaFin (Tier 1), while City Index holds licenses from FCA (Tier 1). CMC Markets scores 9.5/10 and City Index scores 8.5/10 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, CMC Markets leads with 8/10 compared to 7.5/10. Quality education materials can shorten your learning curve significantly. Look for brokers offering structured courses, live webinars, and practice demo accounts. CMC Markets and City Index 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
CMC Markets offers 24/5 Live Chat, Email, Phone and scores 8/10, while City Index provides 24/5 Live Chat, Email, Phone with a score of 8/10. 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
CMC Markets scores 8/10 for deposits and withdrawals, while City Index scores 7.5/10. CMC Markets accepts Bank Transfer, Credit Card, PayPal, and City Index supports Bank Transfer, Credit Card, PayPal. Processing times, fees, and available currencies vary. CMC Markets requires a minimum deposit of $0 versus $100 for City Index. Always check withdrawal conditions and any potential fees before funding your account.
Which Broker Is Right for You?
Choose CMC Markets 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
🗳️ Which Broker Do You Prefer?
Cast your vote — see what other traders think
Frequently Asked Questions
Is CMC Markets better than City Index?
CMC Markets scores higher overall (8.8/10 vs 8.2/10), winning 7 of 8 categories. However, City Index remains competitive. The best choice depends on what matters most to your trading style.
Which has lower fees, CMC Markets or City Index?
CMC Markets scores higher for trading costs. CMC Markets offers spreads from 0.7 pips with a $0 minimum deposit, while City Index starts from 0.5 pips with $100 minimum. Actual trading costs depend on your instrument, volume, and account type.
Is CMC Markets safe to trade with?
CMC Markets is regulated by FCA, ASIC, BaFin and scores 9.5/10 for regulation. City Index is regulated by FCA with a score of 8.5/10. Both hold recognized licenses, but verify the specific entity covering your region.
Which has better trading platforms, CMC Markets or City Index?
CMC Markets scores 9.5/10 for platforms. CMC Markets offers Next Generation, MT4, while City Index provides City Index Platform, MT4. Your ideal platform depends on whether you prefer proprietary tools, MetaTrader, or third-party solutions.
What's the minimum deposit for CMC Markets vs City Index?
CMC Markets requires a minimum deposit of $0, while City Index requires $100. CMC Markets 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.