Oanda
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74-89% of retail CFD accounts lose money.

Vs.

City Index
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67% of retail CFD accounts lose money.

Oanda Vs. City Index - Compare and Choose the Right One

Updated May 16 2022

Visit

74-89% of retail CFD accounts lose money.

Visit

67% of retail CFD accounts lose money.

Overview

Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms.

City Index is a global broker founded in 1983 that holds 4 financial licenses and offers advanced trading platforms, mobile apps, diverse market research tools and an extensive range of markets.

Best For
  • Forex traders of all levels (from beginner to advanced)
  • Intermediate and experienced traders looking for a great asset variety on CFDs
  • Experienced traders looking to trade options over 17 asset classes
  • Share and ETF traders looking for a comprehensive offering
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

1

Provided by
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Financial
Licenses

Regulation

Regulated

Top-tier Licenses

4

Other Licenses

0

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • CFTC (U.S)
  • NFA (U.S)
  • ASIC (Australia)
  • FCA (UK)
  • MAS (Singapore)
  • IIROC (Canada)
  • FFAJ (Japan)
  • BVI (British Virgin Islands)
  • FCA (UK)
  • ASIC (Australia)
  • MAS (Singapore)
  • ADGM (United Arab Emirates)
The Good
  • High trustworthiness, regulated by the best regulators in the world
  • Fast, simple and professional trading platforms
  • Competitive spreads in their currency pairs
  • Very intuitive order placement panelEasy to execute a trade through various markets
  • Professional web platform with customisable workspaces
  • Integrated Reuters news feed directly in the platform
The Bad
  • Extremely limited offering of assets (104)
  • No ability to purchase real stocks or cryptocurrencies, only CFDs
  • All assets are CFDs, there is no possibility to buy real stocks or ETFs
  • Cryptocurrency offering is below most of its competitors (only 5)
  • While easy to execute a trade, platform is difficult for a novice to navigate
Status
Operational Operational
Recent News
N/A N/A
Key Data
⌛ Account Opening Time
1 day minimum (may take longer) 1 Day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

*There is no document verification needed for gross account deposits below US$9,000.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
1996 1983
💳 Minimum Deposit
$, €, £, - 0. $, €, £ - 100
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
  • Visa
  • Mastercard
  • Maestro
  • Electron
  • PayPal
  • Bank Transfer
💵 Account Base Currencies
9 - USD, EUR, GBP, SGD, CHF, JPY, AUD, CAD, HKD. 8 - GBP, USD, EUR, AUD, JPY, PLN, HUF, CHF.
🗽 Available to U.S Citizens
Yes No
❌ Restricted Countries
AF, AL, BS, BB, BW, BF, BI, KH, KY, CF, TD, CD, CG, CU, ER, ET, GH, IR, IQ, JM, KP, LY, MU, MN, MA, MM, NI, NG, PK, PS, PA, SN, SL, SO, SS, SD, SY, TT, TN, UG, VU, YE, ZW. US, CA, SY, IR.
📊 STP Account
No No
📊 DMA Account
No No
📊 ECN Account
Yes No
Assets
📚 Available Assets

CFDs on currencies, commodities, cryptocurrencies, indices and bonds.

CFDs on stocks, ETFs,, currencies, commodities, cryptocurrencies, indices and bonds.

📙 Stocks
N/A 4,500+
📘 Currency Pairs
68 84
📗 Commodities
13 30
📕 Indices
16 25
📔 ETFs
N/A 740
💸 Cryptocurrencies
4 5
📒 Bonds
6 11
📓 Options
N/A Yes, option chains over 17 different products
📗 Futures
N/A N/A
📝 Notes:

All Oanda's assets are CFDs. In the case of commodities, they only have 13, but each commodity has various trading pairs against several different currencies, eg: GOLD/EUR, GOLD/CHF, etc.

City index offers both CFDs and spread betting.<

Trading Experience
📈 Minimum Stock Trade Size
N/A Varies per share starting from fractional share trading (eg: 0.1 shares)
📉 Minimum ETFs Trade Size
N/A Varies per ETFs starting from fractional ETFs trading (eg: 0.1 ETFs)
📈 Minimum Crypto Trade Size
Varies by crypto (Eg: 0.01 BTC) Varies per cryptocurrency - (eg: 0.01 BTC, 1 LTC)
📉 Minimum FX Trade Size
1 unit of any currency pair (Eg: 1 Euro, 1 Usd, 1 GBP, etc) $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
Varies by Commodity (Eg: 1 Troy ounce of Gold) Varies per commodity
📉 Minimum Bonds Trade Size
1 unit of any Bond contract Varies per bond
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A Varies per option
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:100 Up to 1:500
✍ Customisable Leverage
Yes No
🎲 Deleveraged Trading
No No
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
Yes No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes Yes
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
Yes No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee
Yes, $10 after 1 year of inactivity

Yes, 12£ monthly after 1 year of inactivity

💰 Deposit Fees
No No
💰 Withdrawal Fees

Credit and Debit cards are free, when it comes to Bank transfer depends on the account's base currency (eg: the first withdrawal costs $, €, £ 20 and any subsequent ones 35). In the case of SGD, there are no fees.

No
💰 Commissions

No, but they do charge currency conversion fees. If your account base currency is GBP and you trade the EUR/USD pair, you'll be paying a conversion fee.

  • Spread betting markets have no commission
  • CFDs or FX trading has no commission as well (except equities: shares & ETFs)
  • Equity commissions depend on the market’s location (eg: UK and Europe have a 0.08% of transaction value fee, US equities and Asian ones have different percentages as well)
  • The minimum equity commission rates are $10, £10 or 10€.
Spreads
📈 EUR/USD
Dynamic - From 0.8 Pips Dynamic - From 0.8 Pips
📉 SP500
Dynamic - From 30 Pips Dynamic - From 60 Pips
📈 GOLD
Dynamic - From 26 Pips From 50 Pips
📉 TSLA (Stock CFD)
N/A Dynamic - Market Spread
📈 XLK (ETF - CFD)
N/A Dynamic - Market Spread
📉 BTC
Dynamic - From $100 Dynamic - From $120
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
No Yes

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