Advertiser disclosure: some links on this page may be affiliate links, meaning BrokerCatalogue may earn a commission if you open an account. This never affects the data shown here, which is drawn from our catalogue and compared mechanically. How we make money.
Data refreshed 25 Aug 2026 · Compiled by David Ispiryan
Trust rank #16 · Founded 1983
City Index is a well-regarded, regulated forex broker offering forex and CFD trading across a broad range of markets via web and mobile platforms, supported by research, charting, and risk management tools.…
Read the City Index reviewTrust rank #30 · Editorial rating 8.7 / 10 · Founded 1977
HYCM is a well-regarded forex and CFD broker offering access to a broad range of currency pairs and other markets on MetaTrader platforms. It provides flexible account types, education and research resources,…
Read the HYCM reviewCity Index (United Kingdom, founded 1983) holds 2 regulatory licences (ASIC, FCA), 2 of them tier-1, offers MT4, Proprietary and sits in our low-fee bracket. HYCM (United Kingdom, founded 1977) holds 4 regulatory licences (CIMA, CySEC, DFSA, FCA), 1 of them tier-1, offers MT4, MT5 and sits in our medium-fee bracket. The two overlap in 205 countries; City Index is available in 25 countries where HYCM is not, and HYCM in 0 where City Index is not.
Scored on 8 measurable dimensions where both brokers have verified data. Dimensions missing for either side are excluded rather than guessed. This is a data summary, not a recommendation.
| Criteria | City Index | HYCM |
|---|---|---|
| Editorial rating | Not verified | 8.7 / 10 |
| Trust rank | #16 | #30 |
| Founded | 1983 | 1977 |
| Headquarters | United Kingdom | United Kingdom |
| Regulators | ASIC, FCA | CIMA, CySEC, DFSA, FCA |
| Broker type | Market Maker | Market Maker, STP |
| Platforms | MT4, Proprietary | MT4, MT5 |
| Instruments | Commodities, Forex, Indices, Metals | Commodities, Cryptocurrencies, Forex, Indices, Metals |
| Countries accepted | 230 countries | 205 countries |
| Fee level | Low | Medium |
| Trading types | CFD Trading, Spot Trading | CFD Trading, Spot Trading |
| Best-for use cases | Retail Trading | Professional Trading, Retail Trading |
Highlighted cells mark the stronger value where a direction is objectively better (e.g. more licences, lower fees). "Not verified" means the field is not yet in our catalogue for that broker — we never fill gaps with estimates.
Available at both (205): Algeria, American Samoa, Andorra, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Belize, Benin, Bermuda, Bhutan, Bolivia, Bonaire, Bosnia and Herzegovina, Botswana, Brazil, Brunei, Bulgaria, Burundi, Cabo Verde, Cameroon, Central African Republic, Chad, Chile, China, Christmas Island, Cocos (Keeling) Islands, Colombia, Comoros, Congo, Cook Islands, Costa Rica and 165 more.
Only City Index (25): Afghanistan, Albania, Barbados, Belgium, Burkina Faso, Cambodia, Cayman Islands, Cyprus, France, Gibraltar, Haiti, Hong Kong, Iraq, Jamaica, Lebanon, Mali, Mozambique, Panama, Philippines, Portugal, Senegal, South Sudan, Spain, Tanzania, Uganda.
Availability reflects the countries each broker declares it serves. Local rules change; confirm on the broker's own site before signing up.
HYCM holds more regulatory licences: City Index (ASIC, FCA) versus HYCM (CIMA, CySEC, DFSA, FCA). Tier-1 licences: City Index 2, HYCM 1.
City Index offers MT4, Proprietary; HYCM offers MT4, MT5.
City Index is in the lower fee bracket (low vs medium) in our catalogue.
HYCM is the older of the two, founded in 1977; City Index was founded in 1983.
They overlap in 205 countries. City Index is additionally available in 25 countries (Afghanistan, Albania, Barbados, Belgium, Burkina Faso, Cambodia and 19 more) and HYCM in 0 countries ().
Risk warning: CFDs and forex are complex, leveraged instruments and carry a high risk of losing money rapidly. A majority of retail investor accounts lose money when trading CFDs. Nothing on this page is financial advice; verify licence status on the regulator's register before depositing. Full risk disclosure.