Compare forex brokers Saxo Bank VS City Index

If you're choosing between Saxo Bank and City Index forex brokers, we've compared hundreds of data points side-by-side to make finding the right broker for you easier. Is Saxo Bank better than City Index? After assessing the two forex brokers on nearly 50 different variables, we would be able to get into an informed conclusion.

SAXO BANK VS CITY INDEX

City Index
City Index Overview

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

Saxo Bank
Saxo Bank Overview

Saxo Bank is a Danish investment bank that specializes in providing its clients with online trading services for various types of financial instruments including CFD’s, Bonds, Equities, Forex and Futures.

# Broker's Features SAXO BANK Availability CITY INDEX Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 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 Saxo Bank vs City Index.

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. Saxo Bank offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Bonds, Futures, while City Index offers Currencies, Commodities, Indices, Stocks, Bonds, Cryptocurrency, Futures, ETFs.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. Saxo Bank is Dealing Desk, Market Maker, STP, while City Index is Dealing Desk, Market Maker, STP.

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. Saxo Bank is regulated by ASIC, DFSA, FCA, FSA, FSC, while City Index regulated by ASIC, FCA, FSA, IIROC, MAS, NFA. 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. Saxo Bank offers different account currencies for each account types, while City Index offers USD, EUR, GBP, JPY, CHF, AUD, NZD, ZAR account currencies.

Languages Available: Next lets have a look at each broker's different Language options. Saxo Bank offers Arabic, Chinese, Czech, Danish, Dutch, English, French, German, Greek, Hebrew, while City Index offers English, Spanish, German, Arabic, Polish, Chinese Customer Support Languages.

Payment methods: Next lets have a look at each broker's payment options. Saxo Bank offers Credit/Debit Cards, Bank Wire Transfer different payment methods for each account types, while City Index offers Credit/Debit Cards, Bank Transfer, Payoneer payment methods.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, Saxo Bank makes SaxoTrader, TradeMaker available to clients, while City Index offers MT4, WebTrader.

The Verdict: Saxo Bank or City Index?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, City Index is more reliable based on our criteria above. Regulations play a huge role in protecting the traders/investors interest as they compel the financial service providers such as forex brokers to act in a fair and ethical manner. City Index broker is regulated in more major hubs. Only City Index Offers the MetaTrader Platform. MetaTrader platform is a comprehensive trading platform that is often touted as being the best for forex trading. A popular, versatile and unique tool. City Index offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. City Index offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged.

What We Really Like on City Index

City Index has low forex fees. It has also high-quality and diverse research tools. Lastly, the customer service is superb.

What We Don’t Like on Saxo Bank

Saxo's forex, bond, options, and futures trading fees are high. The account opening is slow as it can take more than 3 days. Its live chat customer support is missing.

What We’d Like More on City Index

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.

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.

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