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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 review
Trust rank #4 · Editorial rating 10 / 10 · Founded 1992
Saxo Bank is a well-regarded forex broker with a proprietary multi-asset trading platform, broad access to currency pairs, advanced charting, and research-driven tools. It emphasizes robust technology, risk management features, and a…
Read the Saxo Bank 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. Saxo Bank (Denmark, founded 1992) holds 6 regulatory licences (ASIC, DFSA, FCA, FINMA, MAS…), 5 of them tier-1, offers Proprietary, TradingView and sits in our low-fee bracket. The two overlap in 42 countries; City Index is available in 188 countries where Saxo Bank is not, and Saxo Bank 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 | Saxo Bank |
|---|---|---|
| Editorial rating | Not verified | 10 / 10 |
| Trust rank | #16 | #4 |
| Founded | 1983 | 1992 |
| Headquarters | United Kingdom | Denmark |
| Regulators | ASIC, FCA | ASIC, DFSA, FCA, FINMA, MAS, SFC |
| Broker type | Market Maker | DMA, STP |
| Platforms | MT4, Proprietary | Proprietary, TradingView |
| Instruments | Commodities, Forex, Indices, Metals | Commodities, Cryptocurrencies, Forex, Indices, Metals |
| Countries accepted | 230 countries | 42 countries |
| Fee level | Low | Low |
| 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 (42): Australia, Austria, Belgium, Croatia, Czechia, Denmark, Estonia, Faroe Islands, Finland, France, Germany, Greece, Greenland, Hong Kong, Hungary, Iceland, Ireland, Israel, Italy, Japan, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Qatar, Romania, Saudi Arabia, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Thailand and 2 more.
Only City Index (188): Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belize, Benin, Bermuda, Bhutan, Bolivia, Bonaire, Bosnia and Herzegovina, Botswana, Brazil and 163 more.
Availability reflects the countries each broker declares it serves. Local rules change; confirm on the broker's own site before signing up.
Saxo Bank holds more regulatory licences: City Index (ASIC, FCA) versus Saxo Bank (ASIC, DFSA, FCA, FINMA, MAS, SFC). Tier-1 licences: City Index 2, Saxo Bank 5.
City Index offers MT4, Proprietary; Saxo Bank offers Proprietary, TradingView.
Both sit in the same fee bracket (low) in our catalogue; compare the spreads and commission rows above for detail.
City Index is the older of the two, founded in 1983; Saxo Bank was founded in 1992.
They overlap in 42 countries. City Index is additionally available in 188 countries (Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola and 182 more) and Saxo Bank 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.