OANDA vs City Index 2026: Which Broker is Better?
Choosing between OANDA and City Index depends on your trading style, preferred markets, and budget. OANDA is headquartered in New York, USA, while City Index operates from London, UK. City Index has the longer track record, established in 1983, compared to OANDA which was founded in 1996. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
OANDA
City Index
| OANDA | City Index | |
|---|---|---|
| BrokerRank Score | 4.3/5 ✓ | 4.1/5 |
| Min. Deposit | $0 | $0 |
| Spread from | 0.6 pips | 0.5 pips ✓ |
| Max Leverage | 1:50 | 1:200 ✓ |
| Regulation | CFTC, FCA, ASIC ✓ | FCA, ASIC, MAS |
| Platforms | MT4, Proprietary Web, Proprietary Mobile | Proprietary Web, Proprietary Mobile, MT4 |
OANDA is the better choice overall, scoring 4.3/5 vs 4.1/5 on BrokerRank's independent rating. On fees, City Index offers lower spreads (0.5 pips).
See full side-by-side comparison belowOANDA vs City Index: Key Differences
OANDA
WinnerCity Index
Still deciding between OANDA and City Index?
Skip the back-and-forth — answer 4 quick questions and we'll match you to your best fit.
Fees Comparison
OANDA
City Index
Lower feesRegulation & Trust
OANDA holds licences from FCA, CFTC, ASIC. City Index is regulated by FCA, ASIC, MAS.
Markets & Assets
Both brokers offer access to Forex, Cfd, Indices, Commodities markets. City Index adds Stocks.
Fees & Spreads
On spreads, City Index is more competitive with EUR/USD spreads from 0.5 pips, compared to 0.6 pips at OANDA.
Trading Platforms
OANDA supports MT4, Proprietary Web, Proprietary Mobile. City Index offers Proprietary Web, Proprietary Mobile, MT4. Both brokers are available on MT4, Proprietary Web, Proprietary Mobile.
Minimum Deposit
OANDA requires no minimum deposit, while City Index sets no minimum deposit. This makes OANDA accessible to traders with any budget.
Overall Ratings
BrokerRank scores OANDA at 4.09/5 and City Index at 4.06/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. OANDA leads overall with a marginal advantage.
BrokerRank Verdict
Who Should Choose Which?
OANDA
4.3/5
Choose OANDA if you want…
- Higher overall rating (4.3/5)
- More regulatory licences (7)
City Index
4.1/5
Choose City Index if you want…
- Tighter spreads (from 0.5 pips)
- Higher leverage (up to 1:200)
- More market types (5)
- More established (est. 1983)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both OANDA & City Index are available in
Frequently Asked Questions
1Is OANDA better than City Index?
OANDA scores higher overall on our independent rating system. OANDA holds a 4.3/5 rating vs City Index's 4.1/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, OANDA or City Index?
OANDA offers spreads from 0.6 pips, while City Index starts at 0.5 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for OANDA vs City Index?
OANDA requires a minimum deposit of $0. City Index requires $0.
4Which broker is safer, OANDA or City Index?
OANDA is regulated by CFTC, FCA, ASIC, MAS, CIRO, BVI FSC, KNF, while City Index holds licences from FCA, ASIC, MAS.
5What trading platforms do OANDA and City Index support?
OANDA supports MT4, Proprietary Web, Proprietary Mobile. City Index supports Proprietary Web, Proprietary Mobile, MT4.
6Can I use both OANDA and City Index?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
Key Trading Terms
Related Guides
More Comparisons
BrokerRank Research
Only 26% of Brokers Are Truly Fee-Free
BrokerRank Research — Hidden costs across our broker database
58% of Brokers Hold a Single Licence
BrokerRank Research — Regulation quality analysis
71% of Retail Traders Lose Money
BrokerRank Research — Loss rates across 50 EU brokers
76% of Brokers Use Proprietary Platforms
BrokerRank Research — MT4 vs MT5 vs proprietary
Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.
Featured
Deriv
4.0Capital at risk · T&Cs apply