How City Index and Phoenix Markets Compare in 2023
City Index or Phoenix Markets who is better?
Compare CITY INDEX Versus PHOENIX MARKETS and IC Markets broker accounts.
Compare City Index Vs Phoenix Markets Side by Side
So you are looking for a broker, City Index or Phoenix Markets who should you choose?
When trading on financial markets you will want to know all about who City Index or Phoenix Markets are, and how they compare. You will naturally want to know how long City Index and Phoenix Markets have been in business and what reputation City Index and Phoenix Markets have. On top of this, you will need to discover if City Index and Phoenix Markets match your trading needs.
Having a reputable and dependable broker is crucial to your trading. The reason for this is quite a simple one You need to be sure in the knowledge that your money is in a segregated bank account with a financially regulated broker. Let us see how City Index and Phoenix Markets compare.
Well in our side by side comparison we make it easier for you to see what is right for you. As with anything the final decision on which broker to trade with should ultimately be based on what and how you going to trade.
Our comparison will help you judge the effectiveness, price, ease of use and support trustworthiness of City Index and Phoenix Markets side by side.
If you're itching to start trading, we can assist you in making a well-informed decision when comparing City Index and Phoenix Markets. By comprehensively comparing City Index and Phoenix Markets features and services, you can choose a trading platform that best suits your needs and preferences. We aim to equip you with the knowledge to make an educated decision and feel confident in your trading journey with City Index, Phoenix Markets or an alternative broker.
Our Comparebrokers.co team has painstakingly spent months assessing different brokers accounts. We collected over 1200 data points on City Index and Phoenix Markets. To simplify things, we analyzed everything for you and provide the main points in relevant blocks on this page.
Regulation alongside currency availability is important when deciding upon a broker. It is very important when selecting a broker like the City Index platform or Phoenix Markets, you can trust with your money with them. To finish off our comparison, let's look at the popular tools and features traders prefer side by side.
The City Index online trading platform gives traders from all over the world access to over 12,500
financial instruments including over 97 available instruments. There are over 14,000+ registered customers that have taken advantage
of the City Index platform.
City Index are regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Monetary Authority of Singapore (MAS).
Phoenix Markets is a renowned Cyprus financial trading brokerage
established in 2013.
Phoenix Markets serves customers globally and are regulated by Cyprus Securities and Exchange Commission (CySEC).
Depending on the country you are trading from City Index may serve you from a
different business entity to comply with its financial regulators.
Phoenix Markets is listed as a publically traded company on a major stock market. As part of their regulatory requirements Phoenix Markets has to disclose a yearly report publically.
Because of this extra level of auditing and regulation Phoenix Markets can be considered trustworthy. City Index is not listed as a PLC.
Benefits of City Index and Phoenix Markets Compared
Below, we will give you a summary of the benefits City Index and Phoenix Markets offer side by side.
City Index offers a minimum deposit of 25 while Phoenix Markets have a 500 minimum deposit.
Why smaller trading deposits are good and how City Index and Phoenix Markets compare
One primary and self-evident factor to remember is that you must only deposit an amount that fits your financial capacity with either City Index or Phoenix Markets. If you have limited financial resources, the broker with the most affordable deposit option will be more appealing. City Index requires a minimum deposit of 25, whereas Phoenix Markets mandates a minimum deposit of 500.
One additional factor to consider while venturing into more precarious yet potentially lucrative financial instruments is to limit your speculation to a modest proportion of your designated trading funds.
It's advisable not to be deterred by a broker's higher minimum deposit, whether it's City Index or Phoenix Markets, and instead focus on the comprehensive trading features offered by their platform. Frequently, a higher minimum deposit provides access to a wider range of financial assets and research tools on the trading platform.
City Index allows traders to trade up to 12,500 financial instruments
while Phoenix Markets have around 97 on their trading platform.
The more instruments available on City Index and Phoenix Markets trading platforms
the more potential financial instruments you can buy or sell for your portfolio.
It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities
and you seriously do not want to miss out on a trading opportunity due to the limitations of City Index or Phoenix Markets.
The City Index trading platform has 4,500 stocks listed
while Phoenix Markets has 379 stocks listed.
City Index allows retail traders to trade the following assets Forex, CFDs, Spread Betting on the City Index MT4, Web Trader, Tablet & Mobile apps trading platforms.
Alternatively Phoenix Markets allows retail traders to trade Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing on the Phoenix Markets MT4,mac,Android.iPhone/iPad trading platforms.
Compare City Index and Phoenix Markets in more detail below.
Drawbacks of City Index and Phoenix Markets Compared
Below we compare what drawbacks City Index and Phoenix Markets have side by side.
Various potential downsides can be associated with certain brokers, including City Index and Phoenix Markets. One primary drawback is the potential restrictions that may be imposed. Generally, the more diverse investment options available, the more favourable the situation. Another critical aspect to consider is the trading fees and commissions charged by City Index compared to Phoenix Markets. High trading fees and commissions can significantly impact potential profits. Additionally, essential factors to consider are the quality of trading research tools, educational resources, and the overall user-friendliness of City Index versus Phoenix Markets.
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US, IR, CA, NZ, JP
City Index Vs Phoenix Markets Available Financial Markets
The saying 'Variety is the spice of life' holds for financial markets. It is always advisable to have a diversified investment portfolio whether trading with City Index or Phoenix Markets. A diversified portfolio with City Index or Phoenix Markets can safeguard your investments from significant downturns in any particular market. For instance, when one stock rises, others may follow suit.
Conversely, when the market takes a downturn, it can be disastrous for your investments. The most effective investment portfolios cover potential risks and encompass many businesses and stocks. When creating a diverse investment portfolio with brokers like City Index or Phoenix Markets, it is recommended to have access to a variety of tradable assets, commodities, and securities on different trading platforms such as City Index and Phoenix Markets.
City Index Vs Phoenix Markets Cryptocurrency Trading
Since the creation of Bitcoin, the world of cryptocurrencies has been booming, including on trading platforms like Both City Index and Phoenix Markets, and it's not difficult to see why. Cryptocurrencies have the potential to turn modest investments into millions, although this is a rare occurrence. This feat is hard to achieve compared to other financial instruments like stocks and shares. Both City Index and Phoenix Markets offer some form of cryptocurrency trading.
Bitcoin is the most popular cryptocurrency, but thousands of altcoins could experience a similar rise. Altcoins follow the same trajectory as Bitcoin, similar to how stocks rise and fall with the market.
Investing in cryptocurrencies with City Index or Phoenix Markets is considered a high-risk venture. The prices of cryptocurrencies can experience extreme highs and lows. If you choose to invest in cryptocurrencies, allocating only a fraction of your portfolio or trading budget to it is essential. Crypto trading with City Index or Phoenix Markets could lead to one of the most exciting trades you've ever made, depending on the market. Please remember that cryptocurrency availability on City Index, Phoenix Markets, and all brokers are subject to regulation.
We compare City Index vs Phoenix Markets Crypto options below side by side.
Allows Cryptocurrency Trading (availability subject to regulation)
BCH, BTC, ETH, LTC, XRP
BTC, XRP, LTC, ETH
BTC, BCH, ETH, LTC, DASH, XRP, EOS, EMC, NMC, PPC
City Index Vs Phoenix Markets Commission and Fees
knowing your trading and commission fees with City Index vs Phoenix Markets is extremely important.
For the majority of the City Index 12,500 financial instruments
and Phoenix Markets 97 available financial
The price you are being presented with will factor in the fee the broker takes. For example, if a financial asset is at 79.6. You might have to pay 79 to enter. Therefore, you will start with a small loss with City Index and Phoenix Markets. The bigger the fee, the bigger the issue is. Most alarmingly, some financial assets charge you to hold on to the asset overnight or over the weekend. Some commodities and stocks you are using leverage on may have overnight charges. Please check your fees with City Index and Phoenix Markets before you invest because you must know what you are paying.
You ideally want to choose a broker like City Index or Phoenix Markets that does not charge too much for withdrawal fees. High trading fees and commissions will eat into your profits. The fees will be noticeable if you have a low budget and do not intend to invest so much with City Index or Phoenix Markets. You want the withdrawal fee to be less than one per cent of what you are withdrawing but, more ideally, $5 to $10.
Your location or residence will have an impact on your potential City Index and Phoenix Markets fees, of course. Make sure you do your research and check the commission and fees with both City Index and Phoenix Markets before you invest anything.
Some brokers will charge inactivity fees. As the name suggests, this occurs when you have been inactive on your account for a certain period.
Also, with City Index or Phoenix Markets be aware of or 3rd party payment provider fees and currency conversion fees.
Both City Index and Phoenix Markets do charge inactivity fees.
Numerous notifications are usually sent to you as a reminder of dormant City Index and Phoenix Markets accounts, giving you sufficient time to decide on the appropriate course of action. You can opt to continue using your City Index or Phoenix Markets account, or choose to close it.
Usually, the associated fees for dormant City Index or Phoenix Markets accounts are quite minimal, and there is no need to panic, particularly when the issue can be easily resolved. It's always advisable to keep track of your live City Index or Phoenix Markets trading account activity to avoid any unnecessary fees or charges.
When you deposit money to a broker like City Index or Phoenix Markets you might need to pay deposit fees. The lower, the better. Most preferably, you would have to pay City Index or Phoenix Markets nothing for this. If this is the case, it can be a big problem. Constant deposits will eat into your profit, so this will take some consideration before you sign up.
Let's see how City Index vs Phoenix Markets compare side by side for commissions and fees.
We live in an accessible world these days. Therefore, your trading platform has to consider this. The ability to trade with the click of a button is essential and allows you to make trading decisions on the City Index and Phoenix Markets platforms when convenient. Without this, you cannot take advantage of every situation that may or may not occur in the financial markets.
Some brokers offer bespoke trading platforms, so if a particular broker does not offer the trading software you are looking for, their proprietary trading platform may be better. You must test this yourself with an City Index or Phoenix Markets demo account.
Trading on your mobile with City Index and Phoenix Markets can be very useful. Why is this? Well, the stock market sees market movement every second. If you are not near your desktop computer, you will probably be near and have access to your phone and City Index and Phoenix Markets mobile trading apps. This way, you can take advantage of all potential trading opportunities mobile trading with City Index or Phoenix Markets. For example, a stock might move to an all-time low when you are out. In this instance, having access to mobile trading with City Index or Phoenix Markets can help limit your risk and trade on the move.
If you own an iPhone, having an IOS Apple mobile trading app with City Index or Phoenix Markets is essential.
Likewise, if you have an android phone, it's crucial to verify if City Index or Phoenix Markets broker provides an app compatible with Android devices. If you use Microsoft Windows tablets or phones, you must also check if City Index and Phoenix Markets have trading apps compatible with your device.
City Index Vs Phoenix Markets Trading Account Types Offered
City Index Vs Phoenix Markets Demo Account
A demo account with City Index or Phoenix Markets is extremely useful for people without trading experience. This way, you risk none of your money and test your trading skills in a safe environment. For people with next to no knowledge of trading, we recommend fully signing up with an City Index and Phoenix Markets demo account.
City Index Vs Phoenix Markets Micro Account
Micro accounts are trading accounts used by Forex traders that allow them to trade with smaller amounts of capital than standard trading accounts. Micro accounts require a smaller minimum deposit, usually ranging from $1 to $500, and offer smaller trade sizes than standard accounts, allowing traders to manage their risk more effectively.
If you need a micro account check if City Index or Phoenix Markets offer micro trading accounts in your region.
Overall, micro accounts provide a flexible and cost-effective way for Forex traders to enter the market and gain valuable trading experience while minimizing risks. However, traders need to remember that Forex trading carries significant risks, and they should always approach trading with caution and sound risk management strategies.
City Index does offer clients Micro accounts, while Phoenix Markets does not offer clients Micro accounts.
City Index Vs Phoenix Markets Standard Account
A standard account is available on City Index and Phoenix Markets to more experienced traders. This account allows users to trade on stocks, commodities, crypto etc. To open one of these retail investor accounts, users must trade with at least $100. Standard trading accounts are what the majority of people will seek to use.
Both City Index and Phoenix Markets do offer clients Standard accounts.
City Index Vs Phoenix Markets MAM Account
A MAM (Multi-Account Manager) account is typically used by professional traders. It allows a trader to manage multiple individual trading accounts from a single master account, making it easier to execute trades and manage risk across multiple clients. MAM accounts can help streamline the trading process and improve efficiency for trader and their clients. If you need a MAM account check if MAM accounts are available with City Index or Phoenix Markets or alternative.
City Index and Phoenix Markets do not offer clients MAM accounts.
City Index Vs Phoenix Markets ECN Account
The primary purpose of ECN accounts is to provide traders with faster execution speeds and better pricing by connecting them directly to the market. ECN accounts allow traders to exploit the tightest spreads and access the deepest liquidity pools.
ECN accounts are used for fast and efficient trading, with lower transaction costs and greater transparency. While they may not be suitable for all traders, those with the necessary experience and expertise can benefit greatly from using an ECN account.
If you need a ECN account check they are available with City Index or Phoenix Markets or alternative.
City Index does not offer clients ECN accounts, while Phoenix Markets does offer clients ECN accounts.
City Index Vs Phoenix Markets Islamic Account
An Islamic account is for people who respect the Quran and want to invest in the Islamic stock market. Islamic trading accounts might seem very niche, but it is essential for those concerned as it follows certain ethics concerning the principles of Islam. They are also referred to as swap-free accounts.
If you need a Islamic account check they are available with City Index or Phoenix Markets or alternative.
City Index does not offer clients Islamic accounts, while Phoenix Markets does offer clients Islamic accounts.
City Index Vs Phoenix Markets STP Account
Straight Through Processing or STP is where a requested client's trade orders are sent directly to the markets. STP brokers aim to reduce all conflicts of interest. STP is a non-dealing desk trading method aimed mainly at Forex traders.
If you need a STP account check they are available with City Index or Phoenix Markets or alternative.
Both City Index and Phoenix Markets offer clients STP accounts.
City Index Vs Phoenix Markets Managed Account
A managed account is a type of investment account where a professional manager or investment firm is responsible for making investment decisions on behalf of the account owner. The account owner typically retains ownership of the underlying assets but delegates responsibility for managing those assets to the manager.
While some managed accounts require significant investment minimums to access the services of a professional manager, many brokers now offer variations of managed accounts that can be accessed with smaller investment amounts. It's important to note that the fees associated with managed accounts can vary widely depending on the level of service the manager provides and the investment strategy employed. Investors should carefully evaluate the costs and benefits of managed accounts before making an investment decision.
City Index does offer clients Managed accounts, while Phoenix Markets does not offer clients Managed accounts.
City Index Vs Phoenix Markets Withdrawal and Funding Methods
City Index and Phoenix Markets have multiple deposit and withdrawal options. Funding and withdrawing from your City Index and Phoenix Markets accounts to your chosen payment method should be straightforward. Lets see how City Index and Phoenix Markets compare with each other. Be aware that depending on your payment method, there may be additional processing fees from your payment provider or bank for processing and converting your funds. Not all potential fees will come from City Index or Phoenix Markets.
Credit cards, Debit Cards, PayPal, Wire Transfer, Neteller, Neteller VIP, Skrill, UnionPay, Bpay, FasaPay, Broker to Broker, POLI, Thai Internet Banking, RapidPay, Klarna, Vietnamese Internet Banking, Online Digital Wallets, USDT (Tether),
City Index Vs Phoenix Markets Customer Support Compared
Customer support is essential when trading. Even professional traders will eventually need the help of City Index or Phoenix Markets support. Customer support is especially important for traders starting with little knowledge. If you are starting out, you will want to ensure the City Index and Phoenix Markets support is always available when needed. City Index and Phoenix Markets customer support is not just useful. broker customer support is crucial to your trading success!
City Index Vs Phoenix Markets Live Chat
Live chat is important for several reasons. When you encounter a problem with City Index or Phoenix Markets trading platforms, it is nice to know that the problem has the potential to be sorted out then and there. Also, speaking to someone live is much less frustrating than speaking to someone through several emails.
Both City Index and Phoenix Markets offer livechat support.
City Index Vs Phoenix Markets Email Support
When trading CFDs, stocks, commodities, currencies, cryptocurrencies or any other financial instruments with either City Index or Phoenix Markets you will find Email support is also very useful. Sometimes you might have a more complex question requiring a specific part of the City Index or Phoenix Markets support team to answer satisfactorily. Email support with City Index and Phoenix Markets will be needed.
Both City Index and Phoenix Markets offer email support.
City Index Vs Phoenix Markets Phone Support
Although most queries can be resolved with the need of a phone call, it is nice when we can explain ourselves with a live human being at either City Index or Phoenix Markets. We can get straight to the point, saving us time and frustration.
Both City Index and Phoenix Markets offer phone support.
Lets see how City Index and Phoenix Markets customer support compare side by side.
City Index Vs Phoenix Markets Regulation and Licensing
Never trade on a market that is not sufficiently regulated. Only submit your bank card information or invest money on financially regulated websites. It would help if you made sure with certainty that your money is held with a regulated brokerage. Checking whether City Index and Phoenix Markets are regulated is not a hard task. The more reputable and mainstream brokers will proudly display their regulation certificates on their site, and if you cannot see that City Index or Phoenix Markets have these in place, please be extremely cautious before you proceed with them.
We compare City Index Vs Phoenix Markets financial regulation and licensing side by side below.
City Index Vs Phoenix Markets Risk Management Features
When trading with either City Index or Phoenix Markets you will want to understand and make full use of all the
risk management features on your City Index or Phoenix Markets trading platforms.
We compare side by side the trading risk management features offered by City Index and Phoenix Markets below.
City Index Vs Phoenix Markets Hedging
What is hedging? Have you ever heard of the expression 'to hedge ones bets'? Hedging means not speculating solely on
the outcome of one event, as holding all your assets in one place could be risky.
Hedging in finance means being able to trade to protect yourself from huge risks by limiting risk using diversification.
Hedging can be done, for example, by speculating on a stock to rise and against it to rise by using different amounts or different amounts of leverage.
City Index does offer clients hedging, while Phoenix Markets does not offer clients hedging.
City Index Vs Phoenix Markets Stop Loss
Stop loss orders are very useful for more volatile investments, especially when speculating on a stock or Forex currency pair.
In a normal trade, you cannot lose more than what you invested, but this is not the case when you are using leverage.
Under these terms, it is always good to set a stop loss to protect yourself from any vicious results.
Both City Index and Phoenix Markets do offer clients stop losses.
City Index Vs Phoenix Markets Limit Orders
Every broker should allow users to place a limit order.
Limit orders are when you have the order to buy a financial instrument at a specific price.
Your trade will be executed when the financial asset hits a set price. Limit orders are extremely useful as they allow you to buy stock at a better price!
It would be very time-consuming to wait for a stock to fall to a price you would ultimately be satisfied by. Therefore, you can already imagine what helping limit orders can be in your trading career.
Both City Index and Phoenix Markets do offer clients limit orders.
City Index Vs Phoenix Markets Negative Balance Protection
Negative balance protection is there to protect its customers. Customers need protection as trading can be volatile, and not everybody who invests knows the full consequences of their trade.
Negative balance protection works like this: Say you invest $50, but your trade can lose $125 because you have used leverage. You will need $125 available in your account to do this trade.
Negative balance protection is essential, as it would be unfortunate if you received an unexpected bill from a broker one day.
City Index does offer clients negative balance protection, while Phoenix Markets does not offer clients negative balance protection.
We hope this City Index Vs Phoenix Markets guide has helped you decide who is best to trade with out of City Index and Phoenix Markets.
When choosing a broker like City Index or Phoenix Markets for trading, it's important to ensure your money is held in a segregated bank account. Your live trading funds with City Index or Phoenix Markets are kept separate from the broker's funds and can be returned to you if the broker faces financial difficulties or insolvency when signing up with brokers such as City Index or Phoenix Markets, it's crucial to verify that they offer this safeguard. By doing so, you can have greater peace of mind and confidence in the safety of your funds as you engage in trading activities with City Index or Phoenix Markets.
Also, before you sign up with online brokers like City Index or Phoenix Markets, make sure you know what you are doing. Simple advice, we admit, but we know from experience how many people decide to start trading and then ask questions later. Please know what you are doing with City Index or Phoenix Markets before investing money into something.
Beware of the risks that come with trading with City Index or Phoenix Markets. The financial markets can be volatile, and investments can go down and up. Educate yourself, and use all City Index and Phoenix Markets educational resources and financial research tools. If you are new to trading, sign up for a demo account with City Index and Phoenix Markets to find which suits you and your trading style.
Some of you might be thinking about what we mean when we say 'trading style'. Here are a few examples. A day trader using City Index or Phoenix Markets will look to open positions and close them on the same day. Day trading in this way will require a broker that specialises in this. To do this with some brokers would be a bad idea because of the commission and fees involved. Check if City Index and Phoenix Markets fees match your trading requirements.
Alternatively, you could be on the end of this scale and decide to wait years before you close your investments with City Index or Phoenix Markets if your investment strategy is more long-term.
City Index and Phoenix Markets Alternatives
If City Index and Phoenix Markets are not what you are not quite what you are looking for we list some of the best City Index and Phoenix Markets alternatives below.
Other City Index and Phoenix Markets Vs Comparisons
If you are still looking for an alternative to City Index and Phoenix Markets and want to see how City Index or Phoenix Markets compares Vs other brokers check out the City Index Vs and Phoenix Markets Vs list below.
City Index Vs Alternatives
Still not happy have a look at some of our alternative City Index Vs side by side comparisons below
City Index Vs Phoenix Markets Frequently Asked Questions
We answer some of the most frequently asked City Index Vs Phoenix Markets questions below.
Is City Index any Good?
Knowing that a broker is legit is the first thing you should check before signing up with a broker.
Is City Index legit? - City Index are regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Monetary Authority of Singapore (MAS)
and have been in business since 1983
Is Phoenix Markets any Good?
Phoenix Markets are regulated by Cyprus Securities and Exchange Commission (CySEC) and have been in business since 2013.
Which is better City Index or Phoenix Markets?
City Index and Phoenix Markets do not have a high rating, so we recommend trading with a more reputable alternative broker.
Is City Index a con?
City Index is regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Monetary Authority of Singapore (MAS) and have been in business since 1983.
City Index is most definitely not a con as they are regulated by major financial regulators.
Is Phoenix Markets a con?
Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC) and have been in business since 2013.
Phoenix Markets is most definitely not a con as they are regulated by major financial regulators.
What happens if City Index or Phoenix Markets go bust?
City Index and Phoenix Markets are regulated, which means that as part of their regulatory obligations City Index and Phoenix Markets have to offer a certain level of financial protection to their clients. City Index and Phoenix Markets should by law keep client funds separate from City Index and Phoenix Markets funds. If either City Index or Phoenix Markets goes bankrupt, they should not have access to your money. Customer accounts should be segregated. A financial services compensation scheme differs from country to country, so check this on the City Index and Phoenix Markets websites and regulators.
Are City Index or Phoenix Markets good for beginners?
City Index and Phoenix Markets offer low deposits and access to a selection of market insights and news resources. Both City Index and Phoenix Markets offer demo accounts. Demo trading accounts are a big plus for City Index and Phoenix Markets as it shows they are interested in their customers.
Learn more 73% of retail investor accounts lose money when trading CFDs with this provider