How do CityIndex and BDSwiss stack up against each other?
The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.
At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.
To compare CityIndex and BDSwiss, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.
Does CityIndex or BDSwiss have a better trust and regulation rating?
Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.
In our comparison, we found that CityIndex holds four Tier 1 and one Tier 2 licences, and BDSwiss holds no Tier 1 and no Tier 2 licences.
Is CityIndex financially regulated?
Yes CityIndex was founded in 1983 and is regulated by ASIC, CIMA, CySEC, FCA, FSA-Japan and MAS.
Is BDSwiss financially regulated?
Yes BDSwiss was founded in 2012 and is regulated by FSC, FSCA, MISA and FSA-Seychelles.
Based on these findings, CityIndex earned a higher trust rating than BDSwiss.
Does CityIndex or BDSwiss have lower costs?
Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged.
Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that CityIndex has overall lower trading costs than BDSwiss.
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Does CityIndex or BDSwiss offer a better choice of trading platforms?
Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms.
In this case, 0 offers support for and 0 offers support for .
Do the brokers offer copy trading?
Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both BDSwiss and CityIndex offer copy trading.
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Which broker offers a better choice of trading instruments?
A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that CityIndex offers a greater range and depth of instruments to trade than BDSwiss. CityIndex offers 84 Forex pairs to trade and BDSwiss offers 53 Forex pairs to trade.
And what about Cryptocurrencies?
In this case, BDSwiss offers 27 cryptocurrencies while CityIndex offers 6 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with BDSwiss.
Which broker offers better deposit and withdrawal processes?
Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals.
We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that BDSwiss charges a withdrawal fee and CityIndex does not. Overall, BDSwiss has better deposit and withdrawal processes than CityIndex.
Which broker offers better educational support?
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
BDSwiss has better educational support than CityIndex. Both BDSwiss and CityIndex offer educational support for more experienced traders.
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Which broker offers better market analysis materials?
To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field.
We found that 0 offers better research analysis than 0 and that both BDSwiss and CityIndex offer frequent webinars.
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Our overall Verdict on CityIndex
Founded in 1983, CityIndex is one of several brokers that pre-dates the internet and the subsequent online trading boom. Owned by NASDAQ-listed StoneX, CityIndex is a good broker for traders looking for simple account options and a large range of financial instruments on the MT4 trading platform.
A well-regulated broker, CityIndex offers one live commission-free account with no minimum deposit requirement and spreads that start at 0.50 pips on the EUR/USD, which is much tighter than similar brokers. CityIndex offers a choice between MT4 and its own proprietary web trader platform – an advanced automated trading platform with deep customisation and back-testing.
CityIndex's financial instrument offering is impressive, with over 4700 assets available for trading, including 84 Forex pairs, 4500 stock CFDs, indices, commodities, bonds, metals, and interest rates.
City Index’s education section is useful for beginners who want to get up to speed quickly, and its market analysis provides excellent trade ideas. Overall, a good all-round broker that competes well with other traditional brokers of its size and type.
Our overall Verdict on BDSwiss
Founded in 2012, BDSwiss is a responsible and well-regulated broker with a large international customer base. It offers trading on multiple instruments, including CFDs in Forex, commodities, shares, indices, and over 26 cryptocurrencies.
BDSwiss's trading fees are industry-average across most of its account types. The Cent Account requires a minimum deposit of 10 USD and spreads start at 1.5 pips on the EUR/USD, but no commissions are charged for Forex trading. Trading fees are significantly lower on the Zero-Spread Account, down to 0.0 pips (EUR/USD) with a commission of 6 USD, and a minimum deposit of 100 USD/1,800 ZAR.
With full support for both the MT4, MT5, and its own proprietary trading platforms, traders can access various trading tools, including Autochartist and built-in trend analysis tools. Additionally, its award-winning educational and analytical materials cater to traders of all experience levels, and BDSwiss allows all trading strategies, including hedging, scalping, and algorithmic trading.
Which broker has the highest overall rating?
CityIndex has an overall rating of 4.38 and BDSwiss has an overall rating of 4.37. For more detail please read our reviews of
CityIndex and
BDSwiss.