Gain Capital’s City Index offers the trading of over 12000 assets across FX, CFDs and Spread Betting to its traders. The company launched way back in 1983 and is FCA regulated
|#||Broker's Features||CITY INDEX Availability||SWISSQUOTE Availability|
|#||Accepts US traders||✔||❌|
|#||24 hour trading||❌||❌|
|#||Trading by phone||❌||❌|
|#||1st deposit bonus||❌||❌|
|#||Forex contests competitions||❌||❌|
|#||Interest charges on the balance||❌||❌|
|#||24 hour support||❌||❌|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare City Index vs Swissquote.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. City Index offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Bonds, Cryptocurrency, Futures, ETFs, while Swissquote offers Currencies, Commodities, Indices, Bonds.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. City Index is Dealing Desk, Market Maker, STP, while Swissquote is Bank, Dealing Desk, Market Maker, No dealing desk,.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. City Index is regulated by ASIC, FCA, FSA, IIROC, MAS, NFA, while Swissquote regulated by DFSA, FINMA, SFC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Account currencies: Next lets consider the Account currencies each broker offers. City Index offers USD, EUR, GBP, JPY, CHF, AUD, NZD, ZAR different account currencies for each account types, while Swissquote offers account currencies.
Languages Available: Next lets have a look at each broker's different Language options. City Index offers English, Spanish, German, Arabic, Polish, Chinese, while Swissquote offers Arabic, Chinese, English, French, German, Italian, Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. City Index offers Credit/Debit Cards, Bank Transfer, Payoneer different payment methods for each account types, while Swissquote offers Credit/Debit Cards, Bank Wire Transfer payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, City Index makes MT4, WebTrader available to clients, while Swissquote offers Advanced Trader, MT4, MT5.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Swissquote is more reliable based on our criteria above. Swissquote has a wider range of instruments to trade giving you the flexibility to get access and exposure to a wide range of markets. Swissquote offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. Customer service in your national language might not be a major concern for traders based in English-speaking countries, but it is a defining requirement for traders from other regions such as Asia and South America. Swissquote has a wider range of languages in which customer service is offered making the broker more accessible.
Swissquote scores high on safety with being a listed Swiss broker having a banking license. You can access a lot of markets and products including bonds, and funds. Its account opening is fully digital
City Index has quite high stock CFD fees. Its product portfolio is limited, providing only forex and CFDs. The desktop trading platform is not user-friendly.
Swissquote's fees are high. Its trading platform is overcomplicated, and the better part of its research is not free.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.