Written by ForexBrokers.com
In this head to head comparison of City Index vs XM Group, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
City Index and XM Group are prominent names in the online brokerage world, each bringing its own strengths in terms of trust and regulation. Established in 1983, City Index stands out with its long history and high ForexBrokers.com Trust Score of 99, marking it as a highly trusted broker. It holds an impressive seven Tier-1 licenses, demonstrating its strong regulatory compliance. Additionally, City Index is publicly traded, which can offer an extra layer of transparency to investors.
In comparison, XM Group, which was founded in 2009, also secures a commendable position in the market with a Trust Score of 93. While it operates with four Tier-1 licenses and one Tier-2 license, it is not publicly traded. Like City Index, XM Group is not a bank, but it still provides a secure trading environment for clients. Both brokers are trusted by the regulatory framework they adhere to, making them viable choices for those venturing into online trading.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Year Founded | 1983 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 4 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
City Index is generally priced around the industry average for forex, CFDs, and spread betting, with its best rates available on the City Index platforms or MetaTrader. Its EUR/USD spread averaged 0.74 pips (July 2023), which is competitive but not as low as leaders like Tickmill and FP Markets. For commissions and fees, City Index holds a 4.5 out of 5 stars rating and ranks #16 of 63 brokers.
XM Group’s costs are less appealing: the Standard account spreads are considered expensive, and average spreads for the commission-based XM Zero account are not published, reducing price transparency. XM Group’s commissions and fees rating is 3.5 out of 5 stars, with a #34 of 63 ranking.
Active and high-volume traders may find better value with City Index. Its Premium Trader account (for deposits over £10,000) unlocks exclusive pricing and dedicated service, and professional rebates can materially lower costs: in the U.K., rebates start at £4 per million for monthly volumes above £25M and reach £7.5 per million above £300M; in Australia, rebates range from AUD $4.5 to $14.5 per million depending on tier. Overall, City Index tends to offer more attractive commissions and fees than XM Group, though it still trails the very cheapest forex brokers.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Minimum Deposit | £100.00 | $5 |
| Average spread (EUR/USD) - Standard account | 1.4 | 2 |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
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City Index vs XM Group: for range of investments, City Index offers a larger catalog with 13,500 tradeable symbols and 66 forex pairs, compared with XM Group’s 1,394 symbols and 55 forex pairs. Both support forex trading as CFDs or spot contracts. Independent ratings reflect this spread: City Index earns 5 stars and ranks #8 out of 63 brokers for Range of Investments, while XM Group scores 4.5 stars and ranks #19.
Asset access differs in key areas. XM Group lets you buy exchange-traded stocks directly on both U.S. and international exchanges, while City Index does not offer direct stock ownership (non-CFD). Both brokers provide copy trading. For crypto, neither allows buying actual coins, but both offer cryptocurrency CFDs for trading price moves without owning the asset.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 1394 |
| Forex Pairs (Total) | 66 | 55 |
| U.S. Stocks (Shares) | No | Yes |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Comparing trading platforms and tools, both City Index and XM Group provide free demo accounts, web-based platforms, Windows desktop platforms, copy trading, and MetaTrader 4 (MT4). City Index also offers its own in-house platform, while XM Group does not. For charting, both brokers let you place trades directly from charts. If you need MetaTrader 5 (MT5), XM Group has it, while City Index does not. Details such as the exact number of technical indicators and watchlist columns were not specified.
For overall quality of platforms and tools, City Index earns 4.5 out of 5 stars and ranks #11 out of 63 brokers on ForexBrokers.com, while XM Group scores 4 out of 5 stars and ranks #27. Choose City Index if you want a proprietary platform alongside MT4, or go with XM Group if MT5 support is a priority. Both are beginner-friendly with demo accounts and convenient web and desktop access.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and XM Group both offer full-featured mobile trading apps for iPhone and Android. Each app supports price alerts and watchlist syncing, so changes you make on your phone match your online account. You can also draw trendlines on charts in both apps, making it easier to track market moves on the go.
City Index stands out for charting depth, offering 88 technical studies versus XM Group’s 30, and it auto-saves your chart drawings (XM Group does not). Reflecting these differences, City Index earns 4.5 out of 5 stars and ranks #9 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while XM Group scores 4 stars and ranks #26. If advanced mobile charting and saved annotations matter to you, City Index has the edge; if you just need alerts and synced watchlists, both will do the job.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of online brokers City Index and XM Group, both providers ensure traders have access to daily market commentary and forex news from high-quality sources such as Bloomberg and Reuters. Furthermore, each broker equips traders with tools from Trading Central, assisting in technical analyses. Additionally, they both feature sentiment-based trading tools that display the distribution of long and short positions across various currency pairs and instruments. Economic calendars are available from both brokers, showing global news events that can affect trading.
However, neither City Index nor XM Group provides research from Autochartist, TipRanks, or Acuity Trading. Despite these similarities, their overall research ratings differ. City Index garners a respectable 4.5 out of 5 stars and is ranked 10th out of 63 in the research category by ForexBrokers.com. In comparison, XM Group earns a slightly higher score of 5 stars and holds the 8th position, indicating a slightly stronger showing in market research offerings.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
City Index vs XM Group for beginner education: both brokers deliver a deep lineup of forex and CFD learning resources. Each offers far more than 10 educational pieces, including at least 10 beginner videos and 10 advanced videos, plus ongoing client webinars held at least monthly. That means new traders can find step-by-step video lessons and live sessions to build skills from the ground up.
Where they differ is overall strength and recognition. According to ForexBrokers.com, XM Group earns a perfect 5-star Education rating and ranks #5 out of 63 brokers, while City Index holds a strong 4.5 stars and ranks #9. If you want the highest-rated education experience, XM Group has a slight edge. If you choose City Index, you’ll still get a well-rounded path from beginner basics to advanced strategies, supported by frequent webinars.
| Feature |
City Index
|
XM Group
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that City Index is better than XM Group. City Index finished with an overall rank of #8, while XM Group finished with an overall rank of #16.
Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.
| Feature |
City Index
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XM Group
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| Overall Rating |
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| Trust Score | 99 | 93 |
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City Index vs. XM Group: neither broker supports buying actual (delivered) cryptocurrency, but both offer cryptocurrency CFDs for trading.
Comparing online brokers City Index vs. XM Group for deposit and withdrawal methods: City Index supports ACH/SEPA, PayPal, and bank wire transfers (but not Skrill), while XM Group supports Skrill and bank wire transfers (but not ACH/SEPA or PayPal).
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | City Index | XM Group | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | City Index Review | XM Group Review |
| Broker Screenshots | City Index | XM Group | |
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| Regulation | City Index | XM Group | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1983 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 4 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | City Index | XM Group | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | City Index | XM Group | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | City Index | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 1394 | |
| Forex Pairs (Total) | 66 | 55 | |
| U.S. Stocks (Shares) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | City Index | XM Group | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.4 | 2 | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | City Index | XM Group | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $5 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | City Index | XM Group | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | City Index | XM Group | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | XM Group | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | City Index | XM Group | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | Yes | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | XM Group | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | City Index | XM Group | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | City Index Review | XM Group Review |
| Overall | City Index | XM Group | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | City Index Review | XM Group Review |
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