Two brokers sit at opposite ends of execution and scope: a low-deposit, ECN-focused firm versus a regulator-backed, broad-market platform.
Find out which broker best suits your trader profile.
Choose if…
Choose Blueberry Markets if you prioritise ASIC regulation and raw ECN spreads.
Choose if…
Choose City Index if you want FCA regulation, 13,500+ markets, and a proprietary platform.
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
| Editorial score | 4.3/ 5 | 4.2/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.5 / 5 | 4.6 / 5▲ |
Pros
ASIC-regulated with Tier 1 investor protections
MT4, MT5, and cTrader all available
Raw ECN Direct account with published execution statistics
No bonus marketing, pure execution focus
Client funds held in segregated accounts
A closer look at the specific criteria each broker meets or misses within each scoring category.
| Criteria | Blueberry Markets | City Index |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Fail | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Fail | Pass |
| Multilingual support | Fail | Fail |
The scores are close: Blueberry Markets rates 4.3/5 and City Index rates 4.2/5. Blueberry Markets has a marginal edge in our scoring, but the difference is small enough that your specific priorities — fees, platforms, or regulatory jurisdiction — should guide the final choice.
Blueberry Markets starts from 0 pips, tighter than City Index's 0.5 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
City Index has no minimum deposit, while Blueberry Markets requires at least $100. This makes City Index more accessible for traders with limited starting capital.
Both Blueberry Markets and City Index hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, two factors stand out: City Index has no minimum deposit, removing the capital barrier entirely, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
Blueberry Markets lists maximum leverage of 500:1, while City Index lists up to 30:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
Blueberry Markets charges $8 per lot on commission-based accounts. Commission details for City Index are not currently available. Check their website for up-to-date pricing.
Blueberry Markets supports cTrader, MetaTrader 5, MetaTrader 4, while City Index supports Proprietary Web/Mobile, TradingView, MetaTrader 4. Both provide MetaTrader 4. Blueberry Markets has exclusive access to cTrader and MetaTrader 5. City Index has exclusive access to Proprietary Web/Mobile and TradingView.
Blueberry Markets offers tighter spreads from 0.00 pips vs 0.50 pips for City Index, reducing trading costs.
City Index wins for safety and regulation, offering FCA, ASIC, and MAS oversight.
City Index wins for active traders with 13,500+ markets and advanced platforms.
Blueberry Markets is better suited for scalpers: raw/ECN spreads available, tighter spreads from 0.00 pips.
City Index wins for platform choice with a proprietary platform and MT4/MT5 access.
City Index wins for beginners with a $0 minimum deposit and broad access.
City Index wins for instrument variety with 13,500+ markets.
Fees & Spreads 30% weight | 4.3 / 5 | 4.3 / 5 |
|---|
Platforms & Tools 20% weight | 4.4 / 5▲ | 4.2 / 5 |
|---|
Customer Support 10% weight | 4.1 / 5 | 4.1 / 5 |
|---|
| Founded | 2016 | 1983 |
|---|
| Headquarters | Sydney, Australia | London, United Kingdom |
|---|
| Min Deposit | $100 | No minimum▼ lower |
|---|
| Spreads From | 0 pips▼ lower | 0.5 pips |
|---|
| Commission / lot | $8/lot | N/A |
|---|
| 0.8 pips | N/A |
| Max Leverage | 500:1▲ higher | 30:1 |
|---|
| Inactivity Fee | None | $12/month (after 12 months) |
|---|
| Deposit Fee | Free | Free |
|---|
| Deposit methods | Bank transferCredit cardDebit card | Bank transferCredit cardDebit cardPayPal |
|---|
| Withdrawal methods | Bank transferCredit card | Bank transferCredit card |
|---|
| Withdrawal Fee | Free | Free |
|---|
| Regulators | ASIC VFSC | ASIC FCA MAS |
|---|
| Platforms | cTrader MetaTrader 5 MetaTrader 4 | Proprietary Web/Mobile TradingView MetaTrader 4 |
|---|
| Active bonuses |
|---|
Negative balance protection
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Pros
FCA-regulated since 1983, backed by Nasdaq-listed StoneX Group
13,500+ markets including UK spread betting
TradingView integration for chart-based order execution
EUR/USD from 0.5 pips, competitive for a spread-only desk
FSCS protection up to GBP 85,000 for UK clients
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Proprietary trading platform available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Cons
$100 minimum deposit required
Limited product range, forex, indices, commodities, crypto only
No copy trading or social features
ECN commission slightly above the cheapest competitors
No investor compensation scheme
No proprietary platform
No phone support
Support available in limited languages
Cons
Inactivity fee after 12 months of no trading
Not available to US residents
Proprietary platform visual design lags behind IG and Saxo
Research depth weaker than IG's Reuters/Morningstar environment
No raw spread account option
Support available in limited languages
Blueberry Markets and City Index are closely matched overall. City Index differentiates on scale and platform, offering 13,500 markets and a proprietary platform.
Dig deeper into each broker’s features, fees, and regulation.
Score 4.2 / 5
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