Saxo Bank vs City Index

Saxo or City Index – which is better for UK traders 2024? Compare Saxo and City Index in this detailed breakdown of their platforms, features and fees.

Saxo vs City Index Comparison Table 2024
Saxo City Index
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4
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4.4
Saxo is ranked #84 among CFD brokers. City Index is ranked #11 among CFD brokers.
Review
Review
Saxo Markets is a multi-award-winning trading brokerage, investment firm and regulated bank. With a huge 72,000+ trading instruments, plus investment products and managed portfolios, clients have no shortage of opportunities. The trusted brand also offers transparent pricing and top-tier regulatory protection from 10+ agencies including FINMA, FCA & ASIC. City Index is an established and award-winning forex, CFD and spread betting broker with top-tier global regulation, including in the UK (FCA) and Australia (ASIC). With 30+ years in the industry, 13,500+ instruments and 24/5 customer support, City Index is a solid pick for aspiring traders.
66% of retail accounts lose money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Pros
  • Powerful proprietary trading platforms with comprehensive charting packages and advanced analysis tools
  • High-level research hub with curated market research, plus unique insights with 'Outrageous Predictions'
  • Excellent educational resources including podcasts, webinars and expert-led video insights
  • Access to comprehensive third-party analysis tools including TradingView and Updata
  • The ISA account is highly accessible and flexible with no entry or exit fees
  • Heavily regulated and trustworthy brand based in Switzerland
  • Low fees with premium account tiers
  • Thousands of instruments including thematic indices and interest rates that are not available at many alternatives
  • Industry-leading platforms including MT4, plus access to cutting-edge third-party tools like TradingView
  • Excellent reputation with over 1 million account holders and tier-one regulatory oversight
  • Tight spreads from 0.5 pips on EUR/USD and competitive commissions on CFD shares
  • A free demo account with unrestricted access to all markets and trading tools
  • Extended hours trading on 70+ popular shares including Amazon and Tesla
  • No minimum deposit to get started
Cons
  • High funding requirements for the trading accounts
  • Access to Level 2 pricing requires a subscription
  • Clients from some jurisdictions not accepted including the US and Belgium
  • Cryptocurrency trading not available in all locations
  • No Islamic account for Muslim traders
  • $15 monthly inactivity fee
  • US traders not accepted
FCA Regulated
Yes Yes
Instruments
Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs CFDs, Forex, Stocks, Options, Commodities, Bonds
Demo Account
Yes Yes
Minimum Deposit
£500 $0
Payment Methods
Minimum Trade
Vary by asset 0.01 Lots
Regulator
DFSA, MAS, FCA, SFC ASIC, FCA, MAS
Mobile Apps
SaxoTraderGo (iOS, Android, Windows) Yes
iOS App Rating
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rating full
3.8
Android App Rating
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2.8
Margin Trading
No No
Margin Rate
2.5%
MetaTrader 4
No Yes
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
Yes Yes
Autochartist
No No
eSignal
No No
Trading Central
No Yes
STP Account
No Yes
ECN Account
Yes No
DMA Account
No Yes
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes Smart Signals
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No Yes
Inactivity Fee
£12
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • SEK
  • DKK
  • CHF
  • USD
  • EUR
  • GBP
  • AUD
  • CZK
Commodities
  • Gold
  • Silver
  • Natural Gas
  • Oil
  • Copper
  • Corn
  • Gold
  • Oil
  • Silver
  • Copper
  • Livestock
  • Platinum
  • Natural Gas
  • Soybeans
  • Nickel
  • Iron
  • Orange Juice
  • Cannabis
CFD
Trade 8,900+ CFDs spanning forex, stocks, indices, commodities, options and bonds with powerful tools and signals. Trade 5,000+ CFDs from a single account with no hidden fees and free live market data. The suite of markets is impressive vs alternatives, including access to shares, indices, commodities and bonds.
Leverage
1:30 1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.
FTSE Spread
1.2 pts (Variable) 1 pt
GBPUSD Spread<
0.7 (var) 0.8 pips
Oil Spread
0.03 0.4
Stocks Spread
0.10% (subject to min commission) Variable
Forex
Tier 1 liquidity on an impressive range of 189 currency pairs and spot metals, plus 130 forwards, from 0.4 pips. Trade a wide selection of 80+ currency pairs with spreads from 0.5 pips and industry-favorite platforms. City Index has 40+ years experience in forex trading with liquidity from tier-one banks.
Assets
40+ 84
GBPUSD Spread
0.7 (varies by region) 0.8
EURUSD Spread
0.2 (varies by region) 0.5
EURGBP Spread
0.6 (varies by region) 0.8
Currency Indices
  • USD
Saxo City Index
Review
Review
66% of retail accounts lose money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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