Choose City Index if you want…
UK + EU + APAC discretionary traders wanting an established LSE-credible brand with deep instrument coverage.
City Index
⭐ 4.4 / 5
VS
XM
⭐ 4.5 / 5
City Index vs XM — which broker is better in 2026?
We compared City Index and XM across five core criteria: regulation, minimum deposit, spreads, platform choice, and overall user rating. The two brokers are evenly matched — your final choice depends on your specific trading style.
| City Index | XM | Winner | |
|---|---|---|---|
| Rating | ⭐ 4.4 / 5 | ⭐ 4.5 / 5 | XM |
| Regulators | FCA, ASIC, MAS Singapore | CySEC, ASIC, IFSC, DFSA | XM |
| Min. deposit | $0 (no minimum) | $5 | City Index |
| Spreads from | 0.5 pips (Standard) | 0.6 pips (Ultra Low) | City Index |
| Max. leverage | Up to 1:30 (EU retail) / 1:50 (Pro) | Up to 1:30 (EU retail) / 1:1000 (offshore) | — |
| Platforms | MT4, Web Trader Pro, AT Pro, TradingView | MT4, MT5, XM WebTrader, XM Mobile | Tie |
| Founded | 1983 | 2009 | — |
| HQ | London, UK | Limassol, Cyprus | — |
Pros & cons compared
City Index pros
- ✓ Founded 1983 — one of the oldest CFD brokers in the UK
- ✓ Part of StoneX Group (NASDAQ: SNEX) — same parent as Forex.com
- ✓ FCA + ASIC + MAS tier-1 regulation
- ✓ 12,000+ instruments incl. share CFDs from 26+ exchanges
- ✓ Web Trader Pro — sophisticated charting with Reuters news integration
Cons
- ✗ Spreads on FX (0.5+ pips) wider than ECN brokers
- ✗ Inactivity fee of $15/month after 12 months dormant
- ✗ Limited proprietary mobile app vs. peers
XM pros
- ✓ $5 minimum deposit — the lowest in the regulated peer group
- ✓ Industry-leading educational content (XM Live webinars, daily research)
- ✓ Multi-jurisdictional regulation: CySEC, ASIC, IFSC, DFSA
- ✓ Strong MENA presence with Arabic platform + local payment methods
- ✓ Negative balance protection on all account types
Cons
- ✗ Spreads on Standard account (1.6+ pips) are uncompetitive vs ECN brokers
- ✗ EU leverage capped at 1:30 retail (ESMA rules)
- ✗ Limited cTrader availability — MT4/MT5 only
Which one should you choose?
Choose XM if you want…
Beginners, low-deposit traders, and education-focused traders, especially in MENA and Asia.
Frequently asked questions
Which is better — City Index or XM?
City Index and XM are evenly matched on most measurable criteria. Your choice should depend on which specific features matter most — review the comparison table above and the "Pros & Cons" section.
Is City Index more regulated than XM?
City Index holds licenses from: FCA, ASIC, MAS Singapore. XM holds licenses from: CySEC, ASIC, IFSC, DFSA. XM has more regulatory licenses, giving it broader geographic coverage.
What are the spreads at City Index vs XM?
City Index spreads start from 0.5 pips (Standard). XM spreads start from 0.6 pips (Ultra Low). Actual spreads vary by account type and market conditions.
Which has a lower minimum deposit, City Index or XM?
City Index: $0 (no minimum). XM: $5. City Index has the lower entry barrier.
