fbpx
Axiory vs CityIndex - 2024 Comparison | FxScouts
AuthorAuthor: Björn MichelsUpdated: October 12, 2023

Last Updated On October 12, 2023

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

Scroll for more detailsPreviousNext
Broker Score
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.99/ 5 USD 10International Financial Services CommissionFinancial Services CommissionMarket MakerCryptocurrencies, Energies, Stock CFDs, ETFs, Forex, Indices, Metals, Shares620
  • Great platform choice
  • Tight spreads
  • Fast and free withdrawals
  • Poorly regulated
  • Limited demo account
  • High minimum deposit
  • High commission
Read Review 111003/ 5 11110.54.5/ 5 111115/ 5 11110.54.5/ 5 11110.54.5/ 5 1110.503.5/ 5 111003/ 5 0777:10.20 pips Alpha, Max, Nano, Standard, Tera cTrader, MT4, MT5Visa, Unionpay, Bank Transfer, SticPay, Neteller, Skrill, VLOAD, JCB6 USD / lot
11110.54.38/ 5 USD 0FCA Regulated BrokersASIC Regulated Forex BrokersMonetary Authority of SingaporeCySEC Regulated BrokersCayman Islands Monetary AuthorityFinancial Services AgencyMarket MakerBonds, Commodities, Stock CFDs, Forex, Indices, Interest Rates, Metals846
  • Well regulated
  • Wide range of assets
  • Excellent market analysis
  • Low deposit and tight spreads
  • Slow withdrawals
  • Limited demo account
Read Review 111115/ 5 111115/ 5 11110.54.5/ 5 110.5002.5/ 5 11110.54.5/ 5 11110.54.5/ 5 1110.503.5/ 5 73%30:10.50 pips Premium, Professional, Standard MT4, WebTraderVisa, Mastercard, Maestro, Paypal, Bank TransferFees Included in Spread

How do CityIndex and Axiory 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.

Axiory

CityIndex

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 Axiory, 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 Axiory 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 Axiory 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 Axiory financially regulated?

No Axiory is not adequately regulated.

 

Based on these findings, CityIndex earned a higher trust rating than Axiory.

Does CityIndex or Axiory 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 Axiory. 

Scroll for more detailsPreviousNext
Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
Axiory
11110.54.5/ 5
USD, EUR
0.20 pips
USD 8
0.30 pips
0.70 pips
0.50 pips
USD 6
CityIndex
111115/ 5
EUR, USD, GBP, AUD
0.50 pips
USD 5
0.50 pips
1.80 pips
0.60 pips
USD 0

 

Does CityIndex or Axiory 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, Axiory offers support for and CityIndex 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 Axiory and CityIndex offer copy trading.

Scroll for more detailsPreviousNext
Broker
Platform Choice
Copy Trading
Platforms
CityIndex
11110.54.5/ 5
WebTrader

 

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 Axiory. CityIndex offers 84 Forex pairs to trade and Axiory offers 62 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, CityIndex offers 6 cryptocurrencies while Axiory offers 0 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with CityIndex.

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 neither Axiory nor CityIndex charges a withdrawal fee. Overall, Axiory 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. 

Axiory has better educational support than CityIndex. Both Axiory and CityIndex offer educational support for more experienced traders.

Scroll for more detailsPreviousNext
Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Axiory
High
CityIndex
Medium

 

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 CityIndex offers better research analysis than Axiory and that both Axiory and CityIndex offer frequent webinars.

Scroll for more detailsPreviousNext
Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
Axiory
CityIndex

 

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 Axiory

With a wide range of trading accounts available on three of the most popular trading platforms (MT4, MT5, and cTrader), Axiory appeals to beginner traders with its low minimum deposit requirements and strong educational support. 

Axiory's educational and market analysis materials are well-organized, detailed, and in-depth, a real benefit to beginner traders. Webinars are run bi-weekly by industry experts, and Axiory's trading academy offers courses, articles, and tutorials, among other materials. 

Axiory offers a wide range of tradable assets, including over 60 Forex pairs. All trading accounts have a minimum deposit of 10 USD, and trading costs that range between 8 USD and 18 USD per lot of EUR/USD traded, which is average compared to other brokers. 

One drawback is that although Axiory is an international broker, it is only regulated by the IFSC in Belize – so regulatory oversight is weak compared to other similar brokers.

Which broker has the highest overall rating?

CityIndex has an overall rating of 4.38 and Axiory has an overall rating of 3.99. For more detail please read our reviews of CityIndex and Axiory.

Others Also Visit

Scroll for more detailsPreviousNext
Visit
FP Markets
4.40 /5
Read Review
Visit
AvaTrade
4.59 /5
Read Review
Visit
HFM (HotForex)
4.53 /5
Read Review
Visit
Pepperstone
4.61 /5
Read Review
Visit
Exness
4.32 /5
Read Review
Visit

Stay updated

This form has double opt in enabled. You will need to confirm your email address before being added to the list.

Close
>