Two established forex brokers are weighed on regulation, costs, platforms, and markets. The tension centers on trust, pricing, and platform depth.
Find out which broker best suits your trader profile.
Choose if…
Choose City Index if you want top-tier regulation, a 13,500+ instrument universe, and advanced charting.
Choose if…
Choose Windsor Brokers if you prefer ECN pricing on MT4/MT5 with a long CySEC-regulated track record.
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
| Editorial score | 4.2/ 5 | 4.0/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.6 / 5▲ | 4.2 / 5 |
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
A closer look at the specific criteria each broker meets or misses within each scoring category.
| Criteria | City Index | Windsor Brokers |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Fail |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Fail | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Fail | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Pass | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Fail |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Fail | Pass |
The scores are close: City Index rates 4.2/5 and Windsor Brokers rates 4/5. City Index 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.
Windsor Brokers 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 Windsor Brokers requires at least $100. This makes City Index more accessible for traders with limited starting capital.
City Index holds top-tier regulation (ASIC, FCA, MAS), providing stronger investor protections. Windsor Brokers may be regulated but does not hold top-tier status in our data. Verify regulatory status on each regulator's public register before depositing funds.
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.
City Index lists maximum leverage of 30:1, while Windsor Brokers lists up to 500:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
Windsor Brokers 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.
City Index supports Proprietary Web/Mobile, TradingView, MetaTrader 4, while Windsor Brokers supports MetaTrader 5, MetaTrader 4. Both provide MetaTrader 4. City Index has exclusive access to Proprietary Web/Mobile and TradingView. Windsor Brokers has exclusive access to MetaTrader 5.
Windsor Brokers offers tighter spreads from 0.00 pips vs 0.50 pips for City Index, reducing trading costs.
Windsor Brokers is best for active traders due to 500:1 leverage and MT4/MT5 with ECN pricing.
Windsor Brokers is better suited for scalpers: raw/ECN spreads available, tighter spreads from 0.00 pips.
City Index wins platform choice with a proprietary platform plus MT4 support and TradingView.
City Index is best for beginners due to $0 min deposit and multiple platforms.
City Index offers 13,500+ instruments, far beyond Windsor's 200.
Fees & Spreads 30% weight | 4.3 / 5▲ | 4.0 / 5 |
|---|
Platforms & Tools 20% weight | 4.2 / 5▲ | 3.8 / 5 |
|---|
Customer Support 10% weight | 4.1 / 5▲ | 4.0 / 5 |
|---|
| Founded | 1983 | 1988 |
|---|
| Headquarters | London, United Kingdom | Nicosia, Cyprus |
|---|
| Min Deposit | No minimum▼ lower | $100 |
|---|
| Spreads From | 0.5 pips | 0 pips▼ lower |
|---|
| Commission / lot | N/A | $8/lot |
|---|
| N/A | 0.8 pips |
| Max Leverage | 30:1 | 500:1▲ higher |
|---|
| Inactivity Fee | $12/month (after 12 months) | None |
|---|
| Deposit Fee | Free | Free |
|---|
| Deposit methods | Bank transferCredit cardDebit cardPayPal | Bank transferCredit cardDebit cardSkrillNeteller |
|---|
| Withdrawal methods | Bank transferCredit card | Bank transferCredit cardSkrillNeteller |
|---|
| Withdrawal Fee | Free | Free |
|---|
| Regulators | ASIC FCA MAS | CySEC FSCA |
|---|
| Platforms | Proprietary Web/Mobile TradingView MetaTrader 4 | MetaTrader 5 MetaTrader 4 |
|---|
| Active bonuses |
|---|
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
Pros
35+ years of continuous operation, one of the longest track records in retail forex
CySEC regulated with EU investor protections
ECN Zero account from 0.0 pips + $8 commission
Islamic swap-free accounts available
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
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
Cons
Platform limited to MT4 and MT5, no cTrader or proprietary option
$100 minimum deposit on standard accounts
ECN commission slightly above IC Markets and Pepperstone
No top-tier regulatory licence
Limited charting capabilities
City Index edges Windsor Brokers on the editorial score due to FCA/ASIC/MAS regulation, 13,500+ markets versus 200, and advanced charting.
Dig deeper into each broker’s features, fees, and regulation.
Score 4 / 5
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