Which trading platform is best, Saxo Markets or City Index?

City Index is the best trading platform when compared to Saxo Markets judged on the criteria below. City Index is a more established business, has lower trading costs and offers the highest margins and the most added value when compared to Saxo Markets. Though Saxo does offer a wider range of trading instruments and scores higher than City Index, in its customer reviews.
Saxo Capital Markets vs City Index compare broker features, fees, platforms and charges.

Saxo Capital Markets Key Features

saxo capital makets review
Visit Saxo
62% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Saxo Markets Reviews
Total Markets19000
Forex Pairs57
Commodities19
Indices23
UK Stocks?
US Stocks?
Broker specifics
2019 Revenue£316,000,000
Number Active Clients525,000
Minimum Deposit£500
Inactivity Fee£25 per quarter
Founded1992
FX Retails SpreadsSaxo Capital Markets
EUR/USD Euro vs US Dollar0.6
GBP/USD British pound vs US dollar0.7
USD/JPY US Dollar vs Japanese Yen0.6
EUR/GBP Euro vs British Pound0.7
AUD/USD Australian Dollar vs US Dollar0.6
USD/CAD US Dollar vs Canadian Dollar0.6
USD/CHF US Dollar vs Swiss Franc0.7
NZD/USD NZ Dollar vs US Dollar0.11
EUR/JPY Euro vs Japanese Yen0.9
EUR/AUD Euro vs Australian Dollar0.9
FX Retail Margins
EUR/USD Euro vs US Dollar30:01:00
GBP/USD British pound vs US dollar30:01:00
USD/JPY US Dollar vs Japanese Yen30:01:00
EUR/GBP Euro vs British Pound30:01:00
AUD/USD Australian Dollar vs US Dollar20:01
USD/CHF US Dollar vs Swiss Franc30:01:00
NZD/USD NZ Dollar vs US Dollar20:01
EUR/JPY Euro vs Japanese Yen30:01:00
EUR/AUD Euro vs Australian Dollar20:01
Commodity Spreads
WTI crude (oil)0.5
Brent crude (oil)0.5
Natural Gas0.17
Gold0.6
Silver0.35
Copper (comex)0.55
Corn1.25
Wheat2.25
Soyabeansnot quoted
Gasoline RBOB25
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Commodity Margins
WTI crude (oil)10:01
Gold20:01
Corn10:01
Brent crude (oil)10:01
Natural Gas10:01
Silver10:01
Copper10:01
Wheat10:01
Soyabeansnot quoted
Gasoline RBOB10:01
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Index Spreads
Dow Jones Industrials Average (US 30)3
Standard & Poor’s 500 (S&P 500)0.5
Nasdaq (Composite and Nasdaq 100)1
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)1
CAC 40 (France 40)2
DAX (Germany 30)1
Euro Stoxx 50 (Euro 50)2
Japan 225 (Nikkei 225)12
Hong Kong (Hang Seng Index)12
Index Margins
Dow Jones Industrials Average (US 30)20:01
Standard & Poor’s 500 (S&P 500)20:01
Nasdaq (Composite and Nasdaq 100)20:01
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)20:01
CAC 40 (France 40)20:01
DAX (Germany 30)20:01
Euro Stoxx 50 (Euro 50)20:01
Japan 225 (Nikkei 225)20:01
Hong Kong (Hang Seng Index)10:01
Stocks & Shares Spreads
UK Stock Spreads0.05%
US Stock Spreads$0.01 per share
Stocks & Shares Margins
US Stock Margins05:01
UK Stock Margins05:01
Overnight Financing Rates
Forex (tom next plus or minus )0.75%
CommoditiesVariable based on differentials between front month future, cash price and days to carry to futures expiry +150bp
IndicesInterbank rates +2.50% or -3.0%
UK StocksInterbank rates +3.50% or -3.0%
US StocksInterbank rates +3.50% or -3.0%
Compare AlternativesSaxo Markets Versus IG
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City Index Key Features


Visit City Index
70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
City Index Reviews
Total Markets12,000
Forex Pairs84
Commodities25
Indices21
UK Stocks?
US Stocks?
Broker specifics
2019 Revenue£41,570,000 (until q3 2019)
Number Active Clients126,000
Minimum Deposit£100
Inactivity Fee£12 per month
Founded1983
FX Retails SpreadsCity Index
EUR/USD Euro vs US Dollar0.5
GBP/USD British pound vs US dollar0.9
USD/JPY US Dollar vs Japanese Yen0.6
EUR/GBP Euro vs British Pound0.9
AUD/USD Australian Dollar vs US Dollar0.5
USD/CAD US Dollar vs Canadian Dollar0.19
USD/CHF US Dollar vs Swiss Franc0.15
NZD/USD NZ Dollar vs US Dollar0.22
EUR/JPY Euro vs Japanese Yen0.17
EUR/AUD Euro vs Australian Dollar0.42
FX Retail Margins
EUR/USD Euro vs US Dollar30:01:00
GBP/USD British pound vs US dollar30:01:00
USD/JPY US Dollar vs Japanese Yen30:01:00
EUR/GBP Euro vs British Pound30:01:00
AUD/USD Australian Dollar vs US Dollar20:01
USD/CAD US Dollar vs Canadian Dollar30:01:00
USD/CHF US Dollar vs Swiss Franc30:01:00
NZD/USD NZ Dollar vs US Dollar20:01
EUR/JPY Euro vs Japanese Yen30:01:00
EUR/AUD Euro vs Australian Dollar30:01:00
Commodity Spreads
WTI crude (oil)0.3
Brent crude (oil)0.23
Natural Gas0.18
Gold0.8
Silver0.2
Copper (comex)0.4
Corn0.1
Wheat1
Soyabeans1.5
Gasoline RBOBnot quoted
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Commodity Margins
WTI crude (oil)10:01
Gold20:01
Corn10:01
Brent crude (oil)10:01
Natural Gas10:01
Silver10:01
Copper10:01
Wheat10:01
Soyabeans10:01
Gasoline RBOBnot quoted
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Index Spreads
Dow Jones Industrials Average (US 30)3.5
Standard & Poor’s 500 (S&P 500)0.4
Nasdaq (Composite and Nasdaq 100)1
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)1
CAC 40 (France 40)1.3
DAX (Germany 30)1.2
Euro Stoxx 50 (Euro 50)1.9
Japan 225 (Nikkei 225)10
Hong Kong (Hang Seng Index)20
Index Margins
Dow Jones Industrials Average (US 30)20:01
Standard & Poor’s 500 (S&P 500)20:01
Nasdaq (Composite and Nasdaq 100)20:01
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)20:01
CAC 40 (France 40)20:01
DAX (Germany 30)20:01
Euro Stoxx 50 (Euro 50)20:01
Japan 225 (Nikkei 225)20:01
Hong Kong (Hang Seng Index)10:01
Stocks & Shares Spreads
UK Stock Spreads0.80%
US Stock Spreads$0.018 per share
Stocks & Shares Margins
US Stock Margins05:01
UK Stock Margins05:01
Overnight Financing Rates
Forex (tom next plus or minus )variable based on instrument and swap rates
CommoditiesVariable based on differentials between front month future, cash price and days to carry to futures expiry
IndicesLibor +/-2.50%
UK StocksLibor +/-2.50%
US StocksLibor +/-2.50%
Compare AlternativesCity Index Versus IG
City Index Versus CMC Markets
City Index Versus Pepperstone
City Index Versus Spreadex
City Index Versus Saxo Markets

Which trading platform has the best customer reviews?

Saxo Markets has the best customer reviews when rated under the Good Money Guide’s unique multi-factor scoring system with an overall score of 3.625 out of 5.0 compared to City Index’s score of 3.40.

Saxo Markets outscored City Index in The Good Money Guide reviews and in both the Apple and Google Play Apps store reviews, though not at TrustPilot.

Find out why customer reviews are important

Which trading platform offers the most markets?

Saxo Markets offers more markets with 19,000 available for its clients to trade compared to the 12,000 instruments offered by City Index.

However, City Index does offer more FX instruments than Saxo Markets at 84 versus 57. Whilst Saxo Markets makes prices in 23 equity indices compared to City Index‘s 21.

Find out why market access is important

Which trading platform offers the most platforms?

Saxo Markets offer more trading platforms than City Index. Saxo Markets has two in-house trading systems SaxoGo and the more advanced SaxoPro, alongside the Metaquotes MT4 platform. It also offers connectivity to third party platforms, such as TradingView and Multicharts, which you can trade from.

City Index offers its own web-based trading platform and Metaquotes MT4

Find out why trading platforms are important

Which trading platform offers the most different types of account?

Saxo Markets offers the most different types of accounts covering FX, CFD trading Direct Market Access (DMA) futures and options and investing compared to City Index.

City Index offers FX, Spread Betting and CFD Trading but does have a DMA or investing account. However, you can trade on-exchange futures and options throughs its parent company the Stonex Group.

Find out why account types are important

Which trading platform is a more established business?

City Index is the more established business compared to Saxo Markets and was founded in 1983. It is currently owned by the US-listed Stonex Group.

Saxo Capital Markets was founded in Denmark in 1992 it established a permanent presence in London in 2006 and is a privately held company.

Find out why a trading platforms history is important

Which trading platform has the lowest trading costs?

City Index has lower trading costs than Saxo Markets overall and is also the cheapest in the 10 actively traded FX Pairs that we sampled. With an average spread of 0.455 compared to Saxo Capital Markets 0.641.

City Index was also cheaper on many commodities and equity indices, though Saxo Capital Markets has the lower charges when it comes to trading individual equities.

Find out why trading costs are important

Which trading platform offers the most margin?

City Index offers the most margin with leverages ratios of up to 400:1 available to professional clients versus a maximum of 50:1 available at Saxo Markets.

Both firms apply the FCA/ESMA margin restrictions to retail trading accounts and these are the highest levels of leverage available to retail clients, in the UK and Europe, under current legislation.

Find out why leverage and margin are important

Which trading platform offers the lowest overnight financing rates?

City Index offers the lowest overnight financing rates in those instruments where a direct comparison was possible. For example, on equity indices, City Index charges LIBOR +/-2.50% versus the LIBOR +2.50 or -3.0% levied by Saxo Capital Markets.

Find out why overnight financing rates are important

Which trading platform offers the most added value?

City Index offers the most added value to traders thanks to its 360 view functionality that provides news, views analysis and market data for an instrument all in one place.

Both Saxo Markets and City Index scored 5 out of a possible 6 points for added value. With each offering personal service, education, research, news and market analysis to their clients.

Find out why added value is important

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