City Index vs Interactive Brokers (2026): regulation, platforms and costs compared

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Data refreshed 25 Aug 2026 · Compiled by David Ispiryan

City Index

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 review

Interactive Brokers

Trust rank #2 · Editorial rating 10 / 10 · Founded 1977

Interactive Brokers is a well-regarded forex broker providing broad access to currency pairs, advanced trading platforms, and research and risk management tools. It supports multi-asset trading and a wide range of order…

Read the Interactive Brokers review

City 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. Interactive Brokers (United States, founded 1977) holds 15 regulatory licences (ASIC, CBI, CFTC, CIRO, CSSF…), 10 of them tier-1, offers Proprietary and sits in our low-fee bracket. The two overlap in 216 countries; City Index is available in 14 countries where Interactive Brokers is not, and Interactive Brokers in 2 where City Index is not.

Verdict at a glance

  • City Index leads on platform choice and country coverage.
  • Interactive Brokers leads on trust rank, track record, regulatory coverage, instrument range and tier-1 licences.
  • Level on fee level.

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.

City Index vs Interactive Brokers: side-by-side data

CriteriaCity IndexInteractive Brokers
Editorial ratingNot verified10 / 10
Trust rank#16#2
Founded19831977
HeadquartersUnited KingdomUnited States
RegulatorsASIC, FCAASIC, CBI, CFTC, CIRO, CSSF, DFSA, FCA, FINRA, JFSA, MAS, MNB, NFA, SEBI, SEC, SFC
Broker typeMarket MakerDMA
PlatformsMT4, ProprietaryProprietary
InstrumentsCommodities, Forex, Indices, MetalsCommodities, Cryptocurrencies, Forex, Indices, Metals
Countries accepted230 countries218 countries
Fee levelLowLow
Trading typesCFD Trading, Spot TradingCFD Trading, Spot Trading
Best-for use casesRetail TradingProfessional 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.

Pros

City Index

  • Tier-1 regulation (FCA/ASIC/MAS)
  • Competitive FX spreads
  • Fast execution and deep liquidity
  • Proprietary web/mobile platforms + MT4 support
  • Guaranteed Stop-Loss Orders (GSLO)

Interactive Brokers

  • Transparent commission-based FX pricing with tight spreads
  • Aggregated multi-bank liquidity (IDEALPRO)
  • Professional platforms (TWS) and institutional APIs (FIX/REST)
  • Advanced risk management with real-time margin analytics
  • Universal multi-asset account for FX hedging and settlement

Cons

City Index

  • Inactivity fee applies
  • No MetaTrader 5 or cTrader support
  • Spread-only pricing; no raw ECN account
  • Average FX spreads vs low-cost peers
  • Not available to U.S. residents

Interactive Brokers

  • No MT4/MT5 support
  • Steep learning curve
  • Commission-based FX pricing
  • 25k IDEALPRO minimum order size
  • Limited funding methods

Key features

City Index

  • Multi asset trading Forex CFDs and Spread Betting
  • Tier one regulation FCA ASIC MAS and client fund protection
  • Advanced platforms Web Trader Mobile and MetaTrader 4
  • Smart Signals performance analytics and advanced charting tools
  • Guaranteed Stop Loss Orders and negative balance protection
  • Fast execution competitive spreads and deep liquidity

Interactive Brokers

  • Agency model with direct market access to multiple liquidity providers
  • Spot forex and forex CFDs across major and minor pairs
  • Trader Workstation FXTrader with advanced order types and depth of market
  • Smart order routing and transparent interbank pricing with commissions
  • FIX and REST API support for algorithmic forex trading
  • Two factor authentication IB Key and top tier global regulation

Country availability: City Index vs Interactive Brokers

Available at both (216): Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bonaire, Bosnia and Herzegovina, Botswana, Brazil, Brunei, Bulgaria, Burkina Faso, Cabo Verde, Cambodia, Cameroon, Cayman Islands, Chad, Chile, China, Christmas Island, Cocos (Keeling) Islands, Colombia and 176 more.

Only City Index (14): Afghanistan, Burundi, Central African Republic, Congo, Iraq, Libya, Nauru, Nigeria, Sierra Leone, Somalia, South Sudan, Venezuela, Yemen, Zimbabwe.

Only Interactive Brokers (2): Canada, United States of America.

Availability reflects the countries each broker declares it serves. Local rules change; confirm on the broker's own site before signing up.

City Index vs Interactive Brokers: common questions

Which broker is more regulated, City Index or Interactive Brokers?

Interactive Brokers holds more regulatory licences: City Index (ASIC, FCA) versus Interactive Brokers (ASIC, CBI, CFTC, CIRO, CSSF, DFSA, FCA, FINRA, JFSA, MAS, MNB, NFA, SEBI, SEC, SFC). Tier-1 licences: City Index 2, Interactive Brokers 10.

Which trading platforms do City Index and Interactive Brokers offer?

City Index offers MT4, Proprietary; Interactive Brokers offers Proprietary.

Which has lower fees, City Index or Interactive Brokers?

Both sit in the same fee bracket (low) in our catalogue; compare the spreads and commission rows above for detail.

Which is older, City Index or Interactive Brokers?

Interactive Brokers is the older of the two, founded in 1977; City Index was founded in 1983.

Are City Index and Interactive Brokers available in the same countries?

They overlap in 216 countries. City Index is additionally available in 14 countries (Afghanistan, Burundi, Central African Republic, Congo, Iraq, Libya and 8 more) and Interactive Brokers in 2 countries (Canada, United States of America).

Keep comparing

City Index

Interactive Brokers

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.