Updated September 29, 2026 · BrokerCue Editorial Team
City Index vs IC Markets
What sets them apart
| Compare | City Index ReviewSee alternativesSee alternatives | IC Markets ReviewSee alternativesSee alternatives |
|---|---|---|
| Minimum deposit | $0Lower | $200 |
| Inactivity fee | £12 | $0 |
| Markets | Stocks, ETFs, Forex, CFDs, Crypto, Spread betting | Stocks, Forex, CFDs, Futures, Crypto, Bonds |
| Deposit and withdrawal fees | No deposit or withdrawal fees | No internal deposit fees |
| Regulators | Not confirmed | SIPC |
| Investor protection | Not confirmed | SIPC up to USD 500,000 |
| Retail accounts that lose money | 70% | Not confirmed |
| Platforms | Not confirmed | MetaTrader 4, MetaTrader 5, CTrader, TradingView, WebTrader, IC Social |
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Key differences
- City Index scores higher overall: 9.3 vs 9.0.
- Minimum deposit is lower at City Index: $0 vs $200.
- Markets: only City Index offers ETFs, Spread betting.
- Markets: only IC Markets offers Futures, Bonds.
Our verdict on each
City Index
City Index suits UK and European retail investors who want one account for shares, ETFs, forex, CFDs, crypto and spread betting without a deposit hurdle. A minimum deposit of $0 and No deposit or withdrawal fees keep entry costs low, though an inactivity fee of £12 makes long dormant accounts costly.
IC Markets
IC Markets suits experienced day-traders who want a wide market list and no account fee, and it is a weaker fit if you want to start small. The minimum deposit of $200 is the number most readers will notice, while the inactivity fee of $0 takes that worry away.
Score breakdown
| Area | City Index | IC Markets |
|---|---|---|
| Cost | 9.1HigherMinimum deposit of $0 and No deposit or withdrawal fees, but an inactivity fee of £12 cuts the other way. | 8.9Minimum deposit of $200 sits above the site median of €4.64, while the inactivity fee is $0. |
| Offer | 9.7 | 9.8Higher |
| Trust | Not confirmed | 8.6 |
Where each is licensed and available
| Country | City Index | IC Markets |
|---|---|---|
| United States | Not confirmed | SIPC SIPC member 71021 |
Where these facts come from
City Index
- fxleaders.com: 2 facts, checked September 26, 2026
- brokerchooser.com: 1 fact, checked September 26, 2026
- cityindex.com: 1 fact, checked September 26, 2026
- topratedforexbrokers.com: 1 fact, checked September 26, 2026
IC Markets
- ic.com: 5 facts, checked September 26, 2026
- sipc.org: 3 facts, checked September 26, 2026
- hercules-finance.com: 2 facts, checked September 26, 2026
- fxranking.com: 1 fact, checked September 26, 2026
How they place
| Ranking | City Index | IC Markets |
|---|---|---|
| Stock and ETF brokers | 67 of 471 | 140 of 471 |
| Forex brokers | 29 of 147 | 60 of 147 |
| Low-spread forex brokers | 27 of 145 | 58 of 145 |
| CFD brokers | 23 of 122 | 50 of 122 |
Every fact side by side
| Fact | City Index | IC Markets |
|---|---|---|
| Features | Not confirmed | Demo account, Copy trading, Mobile app |
| Pricing model | Not confirmed | Low fees |
| Audience | Not confirmed | Experienced, Day traders |
| Legal entity | Not confirmed | RB INTERNATIONAL MARKETS (USA) LLC |
Where each stands against the rest
| Fact | City Index | IC Markets | Median |
|---|---|---|---|
| Minimum deposit | $0below the median | $200highest quarter | $25 |
| Retail accounts that lose money | 70%below the median | Not confirmed | 72.05% |
Median across 134 listed brokers.
Pros and cons
City Index
Pros
- No deposit barrier at $0, against a site median of €4.64
- No deposit or withdrawal fees keeps moving money on and off the account simple
- One account covers stocks, etfs and forex
Cons
- An inactivity fee of £12 is above the site median of €0
- The inactivity fee rank of 45 out of 56 sits well down the table
- Retail accounts that lose money stand at 70%, so the low entry cost does not reduce trading risk
IC Markets
Pros
- The inactivity fee is $0, and the brand ranks at 1 of 56 brands on that measure.
- Deposit and withdrawal carry no internal fees, so moving money in and out does not add to the cost of a trade.
- You can trade stocks, forex, contracts for differences, futures, crypto and bonds from one account, which is a wider list than eToro's stocks, etfs and forex.
Cons
- The minimum deposit of $200 sits above the site median of €4.64, so the account is less accessible than CFI, where the minimum deposit is $0.
- The brand ranks at 172 of 213 brands on minimum deposit, which puts the entry cost near the expensive end of the list.
- The stated audience is experienced traders and day-traders, so a first-time investor gets less hand-holding than the low-fees brands on the site.
Who each suits
City Index
Who it suits
- Retail investors who hold shares, ETFs, forex, CFDs, crypto and spread betting in one place
- UK and European readers who want no deposit or withdrawal charges
- Traders who will use the account often and avoid the inactivity fee of £12
Who should look elsewhere
- Long term savers who may leave an account dormant and pick up the inactivity fee of £12
- Readers who want a stated regulator and protection scheme, since none is listed for this brand
- eToro buyers chasing futures, which sit in stocks, etfs and forex but not in stocks, etfs and forex
IC Markets
Who it suits
- Experienced day-traders trading forex, contracts for differences, futures and crypto through a single account
- Anyone who trades on several platforms and wants MetaTrader, cTrader, TradingView and a web platform side by side
- Traders who want to hold an account open without paying an inactivity fee
Who should look elsewhere
- First-time investors who want a guided, beginner-led platform, where eToro suits better
- Anyone starting with a small amount, since Vantage opens at a minimum deposit of $5 against $200 here
- Long-term investors building a portfolio of funds or exchange-traded products, which eToro covers with its wider stocks, etfs and forex
Questions about each
City Index
What is the minimum deposit at City Index?+
The minimum deposit is $0, which puts City Index at rank 1 of 213 brands on this measure. That sits below the site median of €4.64, so the account can be opened with a small starting balance.
Does City Index charge for deposits and withdrawals?+
Moving money in and out carries No deposit or withdrawal fees, as listed for this brand. That keeps transfer charges out of the cost picture, though currency conversion on non account currency payments is not covered here.
IC Markets
What is the minimum deposit to open an IC Markets account?+
The minimum deposit is $200. Set that against the site median of €4.64 to see where the entry point sits, and remember this money is committed before any trade is placed. Readers starting small may prefer a lower floor elsewhere.
Is there an inactivity fee at IC Markets?+
The inactivity fee is $0, so an account can sit open without a charge for being dormant. The brand ranks at 1 of 56 brands on that measure, which makes it one of the strongest results in our data for holding costs.
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