Page Summary
XM Group and City Index are top online brokers with beginner-friendly services. XM is a secure MetaTrader broker with straightforward platforms. It has top-tier licenses from the ASIC, CySEC, FCA, and IFSC. XM offers leading educational content for new traders. It is a top choice for traders at all levels who want to improve their trading skills and knowledge.
City Index offers an outstanding copy trading experience with low-cost trading solutions. It has user-friendly platforms and learning tools. This broker has licenses from the MAS, ASIC, and FCA. We recommend it for inexperienced traders.
This article discusses the advantages and disadvantages of XM Group and City Index.
| Broker Name | XM | City Index |
|---|---|---|
| Year Founded | 2009 | 1983 |
| Regulation | ASIC, FCA, CySEC, IFSC | FCA, ASIC, MAS |
| Tradable Assets | Forex, CFD | Forex, CFDs |
| Min Deposit | $5-100 | £50.00 |
| Min Trade | $0 | $0 |
| Platforms | MT4, MT5 | Web Trader, AT Pro, Mobile App, MetaTrader4 |
| Deposit | Free of charge | Free of charge |
| Withdrawals | Free of charge | Free of charge |
Top findings from the XM Group vs. City Index review:
- XM Group is a beginner-friendly brokerage firm with a reliable learning center.
- City Index offers competitive prices and valuable learning tools.
- Both brokers have a virtual trading account to test their offering.
XM Group and City Index offer beginner-friendly platforms and tools. We recommend both brokers to inexperienced traders looking forward to useful learning materials.
Level of experience
XM Group provides access to the full MetaTrader suite. It offers investor trading support and a virtual trading account. This brokerage firm is an excellent choice for beginner investors as it has many research and educational tools.
City Index offers high-quality market research and news. This broker has a reliable learning center with webinars and beginner trading videos. It is a top choice for both professional and inexperienced traders who want to improve their trading skills and knowledge.
Fees
The minimum deposit fee at XM Group ranges from $5 to $100, depending on the account tier you opt for. City Index has a standard minimum deposit fee of £50 and offers an active trader discount. Both brokers have a transparent fee structure.
Assets
City Index has 65 forex currency pairs, while XM offers 57 pairs. City Index provides access to 4500 CFDs, while XM has 1372 available CFDs.
Trading platform
XM offers the MT4 and MT5 suites, but it doesn’t offer a proprietary platform. Both MT4 and MT5 are customizable and user-friendly. This broker has an excellent research center with articles and trading signals. XM offers many educational tools, which is why it is a good fit for new traders.
City Index offers two proprietary platforms and MT4. Its AT Pro and Web Trader offer premium forex trading experiences. This broker has many user-friendly tools, including a reliable trading app. We recommend it for traders at all levels.
Banking services
Banking services are important for a good online trading experience. XM offers bank wire, credit/debit cards, and Skrill. City Index has bank wire, credit/debit cards, and PayPal solutions.
Final verdict
XM Group and City Index are top online brokers. Both have strengths and weaknesses, depending on your trading knowledge, skills, and experience. XM is a better fit for new investors as it has straightforward platforms and tools. City Index is a top choice for traders at all levels because of its versatile offer.
XM compared to other brokers:
XM review