City Index vs CMC Markets 2026: Which Broker is Better?

Regulation & Safety

City Index and CMC Markets are both well-regulated brokers, ensuring high levels of safety and trust for their clients. City Index, founded in 1983 and headquartered in London, is regulated by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). This multi-jurisdictional oversight ensures that City Index adheres to stringent financial standards and client fund protection measures.

Similarly, CMC Markets also holds regulatory licences from the FCA, ASIC, and MAS, reflecting a strong commitment to security and compliance. Both brokers participate in investor protection schemes, with client funds segregated from company funds in accordance with regulatory requirements. This means that in the unlikely event of a broker default, client funds remain protected.

Fees & Spreads

In terms of fees, City Index offers competitive spreads starting from 0.5 pips, with no commission charges on trades, making it an attractive option for cost-conscious traders. Additionally, there is no minimum deposit requirement, allowing traders to start with any amount they are comfortable with. However, an inactivity fee is charged if accounts remain dormant for extended periods.

On the other hand, CMC Markets offers spreads starting from 0.7 pips, which are slightly higher than those of City Index. Like City Index, CMC Markets does not charge commissions and has no minimum deposit requirement. Despite its higher spreads, CMC Markets offers a maximum leverage of 1:500 compared to City Index's 1:200, providing more flexibility for traders looking to maximise their trading positions.

Trading Platforms

City Index and CMC Markets both offer robust trading platforms. City Index provides its proprietary Web and Mobile platforms alongside MetaTrader 4 (MT4), known for its comprehensive charting tools and automated trading capabilities. CMC Markets, however, shines with its award-winning Next Generation platform, which offers advanced charting, pattern recognition, and a range of intuitive trading tools. Both brokers also offer MT4, catering to traders familiar with this widely-used platform.

Who Should Choose City Index?

• Traders seeking a broker with over 40 years of industry experience.
• Investors prioritising a strong research offering from Refinitiv.
• Traders looking for a broker with no minimum deposit requirement.
• Clients who prefer trading with a NASDAQ-listed parent company (StoneX Group).

Who Should Choose CMC Markets?

• Traders interested in using the award-winning Next Generation platform.
• Investors looking for a broker with a wider range of instruments, including cryptocurrencies.
• Clients who prefer higher leverage options up to 1:500.
• Traders who value a strong regulatory profile across multiple regions.

Our Verdict

For beginners, City Index may be the better choice due to its slightly lower spreads and extensive market experience. Professional traders might prefer CMC Markets for its advanced platform and greater leverage options. In terms of fees, City Index edges out with its lower starting spreads.