City Index vs. eToro Forex and CFDs Trading Broker

Free $100 Forex No-Deposit Bonus

Forex traders require the services of reputable brokers in order to get started in forex. The broker you select can make or mar your forex trade. Before picking a broker, you should learn what they have to offer and what makes them unique. As you know, the forex market is volatile, and you need the best support you can get. City Index and eToro are one of the top forex brokers in the market. In this article, we will compare the two, so you can choose which suits you best. Here’s the City Index vs. eToro Forex Broker comparison.

General overview for City Index vs eToro

City Index

City Index forex broker
Spread: Starting 0 Pips
Leverage: up to 500:1
Min Deposit: $100
Regulated: FCA UK, ASIC Australia, MAS Singapore

City Index is a UK-based broker that was founded in 1983. It was one of the first companies to offer CFD and spread-betting in the UK. It is a part of the big forex brokerage group, Gain Capital. This broker offers trading in about 84 FX pairs and numerous CFDs such as Bitcoin 21 global Indices, over 4500 global shares, and more than 25 global commodities bonds. City Index is authorized and regulated by the Financial Conduct Authority(FCA).

eToro

etoro best forex broker
Spread: From 3 Pips
Leverage: 400:1
Min Deposit: $200
Regulated: NFA, FCA, CySec

eToro is basically a social trading forex broker. It provides the opportunity to watch how others trade, copy them and make your trades in a wide range of financial assets(commodities, stocks, currencies, Bitcoin, and stocks indices) on its electronic trading platforms. It gives you access to one of the world’s largest investment networks while letting you use the strategies of others within the trading community. eToro is regulated by the Financial Conduct Authority(FCA) and the Cyprus Securities and Exchange Commission(CySEC).

Features

eToro vs. City Index Forex Broker ComparisonCity Index

  • Apple application
  • Android application
  • Windows application
  • Able to set Price alerts
  • Variable spreads (Forex)
  • Tight Fixed spreads
  • Hedge trading
  • Stop-loss orders
  • Limit orders
  • One-click trading
  • Trailing stops
  • Expert advisors (Metatrader)
  • STP broker (STP)
  • Market maker
  • Trading Signals

eToro

  • Apple application
  • Android application
  • Able to set Price alerts
  • Scalping trading
  • Hedge trading
  • Stop-loss orders
  • Limit orders
  • One-click trading
  • Trailing stops
  • STP broker (STP)
  • Market maker
  • Trading Signals

City Index vs eToro fees

City Index fees:

  • City Index Fees
  • Deposit fee varies
  • 0.0015 commission
  • Inactivity fee applies
  • Withdrawal fee varies
  • 1 Lot Min trade
  • Max trade varies
  • $25 Min deposit

eToro fees:

  • No deposit fee
  • Commission applies
  • Inactivity fee
  • Withdrawal fee
  • $25 Min trade
  • 20% of equity max trade
  • $200 Min deposit

Spreads & Commission

City Index

City Index offers competitive spreads and lets you trade without charging commissions. On the CFD account, the average spread amounts to 0.73 pips on the EUR/USD pair. On the MT4 forex account, the spreads above average are around 1.6 pips for the EUR/USD pair.

eToro

eToro charges no commission and allows a fixed spread of 3 pips on EUR/USD. Some people may argue that such spreads are too high because most fixed-spread brokers offer a 2pips spread. However, eToro will not charge you extra for copying other traders.

Leverage

City Index

City Index offers a maximum leverage level of 1:200. For higher leverage ratios, you should visit other FX brokers who provide up to 1:500 or more leverage. But you have to remember that higher leverage increases your risk of losing.

eToro

eToro offers its users average but maximum leverage of 1:30. So you shouldn’t expect to find higher leverage with them. While leverage gives you an upper hand, you should tread with caution.

Account Types

City Index

  • Demo account
  • Micro account
  • Standard account

eToro

  • Demo account
  • Micro account
  • Standard account
  • Islamic account

Trading Platform

City Index

City Index has a variety of trading platforms which include MetaTrader 4, HTML5 Web Trader and its in-house desktop AT Pro. Their Web Trader, built on fast HTML5 technology, offers curated market information, intelligent trading tools, customizable workspaces, and advanced charts. The Advantage Trader(AT) Pro platform is advanced and offers automated trading strategies along with most features of the Web Trader.

eToro

eToro has its WebTrader, OpenBook and mobile application platforms. The WebTrader comes with automated strategies, analysis indicators, and one-click trading and built-in trade copy functionality. The eToro OpenBook and WebTrader platforms are fully synchronized with each other. The eToro OpenBook is a platform made specifically for automated trading and signal copying. Each trader has a trading profile that shows his or her performance and allows others to follow or not.

Simple eToro vs CityIndex Comparison Table

BrokerInfoBonusOpen Account
etoro best forex broker USA Min Deposit: $200
Payout:
Assets:
Demo Account: Yes
Visit Broker
City Index forex broker Min Deposit: $100
Payout:
Assets:
Demo Account: Yes
Visit Broker

Conclusion

City Index

City Index offers competitive conditions for trading CFDs and Forex on a variety of platforms. They are under strong regulations and charge no commission fees. They offer an extensive list of products for trading.

eToro

eToro has 10 years of experience in social trading and has strong regulations. However, their spreads are high, and they do not provide any ECN environment. eToro offers commission-free trading, advanced but simple copy trading options, and lots of cryptocurrencies. You should also keep in mind that they do not permit scalping.

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Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.