Written by ForexBrokers.com
In this head to head comparison of City Index vs Alpari, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
City Index and Alpari offer distinct profiles in terms of trust and regulatory backing. Founded in 1983, City Index is a well-established online broker that is publicly traded, giving it an extra layer of transparency. It boasts a top-tier ForexBrokers.com Trust Score of 99, indicating a high level of reliability. This is bolstered by its seven Tier-1 licenses and one Tier-2 license, which highlight its trusted regulatory status. Although not a bank, City Index is considered highly secure by industry standards.
In contrast, Alpari, founded in 1998, is not publicly traded, which might be a consideration for some investors seeking more transparency. Its Trust Score is 68 according to ForexBrokers.com, categorizing it as high risk. Alpari holds neither Tier-1 nor Tier-2 licenses, which may raise eyebrows regarding its regulatory oversight compared to City Index. Both brokers are not banks, but the regulatory differences are significant for traders prioritizing safety and trust.
| Feature |
City Index
|
Alpari
|
|---|---|---|
| Year Founded | 1983 | 1998 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 0 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
City Index offers competitive pricing for trading CFDs, forex, and spread-betting products, generally aligning with industry average rates. Utilizing their proprietary platforms or MetaTrader can provide optimal pricing. For active traders with deposits exceeding £10,000, City Index offers a Premium Trader account, granting access to exclusive pricing, events, and content, alongside dedicated customer service. The broker's average spread on the EUR/USD is 0.74 pips as of July 2023, which is competitive but still trails behind leading forex brokers like Tickmill and FP Markets. Additionally, City Index provides rebates for professional traders in the UK and Australia, scaling with trading volume.
In contrast, Alpari does not provide specific average spread data, which may make direct comparisons difficult for cost-conscious traders seeking detailed pricing insights. With an understanding that exact spread data isn't available, traders may need to explore further to gauge Alpari's competitiveness regarding commissions and fees.
When evaluating commissions and fees, City Index receives a commendable 4.5-star rating and ranks 14th out of 62 brokers according to ForexBrokers.com. Meanwhile, Alpari earns 4 stars and holds the 41st position in the same category. These rankings reflect City Index's slightly superior offering in terms of cost efficiency and overall service within the industry, providing a clearer competitive edge for price-sensitive traders.
| Feature |
City Index
|
Alpari
|
|---|---|---|
| Minimum Deposit | £100.00 | $20 |
| Average Spread EUR/USD - Standard | 1.4 | N/A |
| All-in Cost EUR/USD - Active | 0.74 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
City Index and Alpari both offer traders the opportunity to engage in forex trading through CFDs or spot contracts, a popular choice for many looking to invest in currency markets. When it comes to the breadth of investment options, City Index stands out with a remarkable offering of 13,500 tradeable symbols, compared to Alpari's more modest 105. Forex enthusiasts would find City Index appealing with 66 tradeable forex pairs available, compared to the 46 pairs provided by Alpari. It's worth noting that neither broker facilitates the purchase of exchange-traded securities on U.S. exchanges, such as shares in Apple, although Alpari provides access to international securities like Vodafone on the London Stock Exchange, a feature currently unavailable through City Index.
In addition to their extensive forex options, both City Index and Alpari support copy trading, allowing users to mimic successful traders' strategies to potentially enhance their own trading success. When it comes to cryptocurrency trading, both brokers enable access through derivatives rather than purchasing actual cryptocurrencies. Despite some similarities, City Index's comprehensive investment range has earned it a 5-star rating and a notable 8th ranking among 62 brokers surveyed by ForexBrokers.com. In contrast, Alpari holds a 3-star rating and ranks at the bottom of the list for its range of investments, underscoring City Index as a leading choice for those seeking diverse trading opportunities.
| Feature |
City Index
|
Alpari
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 105 |
| Forex Pairs (Total) | 66 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
In a comparison of City Index and Alpari, both brokers offer an extensive range of trading tools and platforms, including simulated trading options with free virtual demo accounts, allowing traders to practice without risking real money. Each provides a proprietary platform available across different devices, including Windows-based desktop and web-based options. Additionally, both brokers support copy trading and offer the popular MetaTrader 4 (MT4) platform. However, while Alpari extends its offerings to include MetaTrader 5 (MT5), City Index does not support this newer version.
City Index stands out with a wider array of charting tools, providing 239 drawing options compared to Alpari's 15. Furthermore, City Index allows for more comprehensive watchlists with 11 fields, while Alpari supports 7. This depth in functionality contributes to City Index receiving a higher rating of 4.5 out of 5 stars for its trading platforms and tools, compared to Alpari's 4-star rating. Consequently, City Index is ranked significantly higher by ForexBrokers.com at 10th out of 62 brokers, whereas Alpari is positioned at 55th. These details highlight City Index's strength in offering more advanced trading features and tools to their users.
| Feature |
City Index
|
Alpari
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Drawing Tools (Total) | 239 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and Alpari both provide easy-to-use mobile trading apps compatible with iPhone and Android devices, making them suitable options for those on-the-go. Both platforms also offer stock and forex price alerts as well as trendline drawing capabilities. However, City Index takes a significant lead with 88 technical studies available for charting in its app, compared to Alpari's 30. Both apps allow users to view different time frames on charts and create watchlists with real-time quotes, but City Index excels with the ability to sync watchlist symbols across devices and auto-save chart drawings. These features make City Index a convenient choice for traders who need seamless transitions between their devices.
In terms of user experience, City Index earns a commendable 4.5-star rating for its mobile trading app, placing it in the top 10 ranking at #9 out of 62 brokers according to ForexBrokers.com. On the other hand, Alpari receives a respectable 4-star rating but ranks significantly lower at #56. This discrepancy may be attributed to the advanced features and superior app functionality offered by City Index, making it a preferred choice for traders who value enhanced mobile trading capabilities.
| Feature |
City Index
|
Alpari
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing City Index with Alpari for market research, City Index stands out with its daily market commentary feature, which Alpari lacks. Both brokers provide forex news from reputable sources like Bloomberg and Reuters. While Alpari offers tools from Autochartist for technical or fundamental research, City Index counters with tools from Trading Central and provides a sentiment-based trading tool that gives insights into trading positions. This feature is not available with Alpari. Both City Index and Alpari offer an economic calendar to keep traders informed about global economic events.
While City Index offers a slightly more comprehensive research suite, both brokers lack tools from TipRanks and Acuity Trading. For research, City Index is highly rated at 4.5 stars and is ranked 10th out of 62 brokers by ForexBrokers.com, highlighting its strong research capabilities. In contrast, Alpari's research receives 3 stars and is ranked 57th, indicating room for improvement in this area.
| Feature |
City Index
|
Alpari
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginner traders, City Index and Alpari both provide a foundational library of educational content focused on forex and CFDs, including a mix of articles, videos, and more. City Index shines by offering regular monthly webinars, which are a fantastic opportunity for beginners to engage and learn in real-time. Furthermore, they offer a searchable archive of recorded webinars, allowing users to revisit and review past content at their convenience. Alpari, while offering a range of introductory trading videos, does not provide monthly webinars or an archive to catch up on missed sessions.
City Index also provides educational materials for more advanced traders, featuring at least ten advanced videos compared to Alpari, which lacks this offering. Both platforms supply a comprehensive investor dictionary with a broad list of investing terms, assisting beginners in understanding trading jargon. Ratings emphasize these differences, with City Index earning 4.5 stars for education, while Alpari receives 3 stars. ForexBrokers.com rates City Index as the ninth-best broker for education out of 62, while Alpari is ranked 48th. This comparison indicates that City Index offers a more extensive and structured educational experience for novice traders.
| Feature |
City Index
|
Alpari
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that City Index is better than Alpari. City Index finished with an overall rank of #8, while Alpari finished with an overall rank of #57.
Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.
| Feature |
City Index
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Alpari
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 68 |
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Both City Index and Alpari provide the option to trade cryptocurrency derivatives, but neither offers the ability to purchase actual delivered cryptocurrency.
When comparing online brokers City Index and Alpari, City Index offers more diverse funding options, with support for ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires, while Alpari supports funding via Skrill, Visa or Mastercard, and bank wires but lacks support for ACH or SEPA transfers and PayPal.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | City Index | Alpari | |
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| Trust Score | 99 | 68 | |
| Winner | check_circle | ||
| Review | City Index Review |
| Broker Screenshots | City Index | Alpari | |
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| Regulation | City Index | Alpari | |
|---|---|---|---|
| Trust Score | 99 | 68 | |
| Year Founded | 1983 | 1998 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 0 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | City Index | Alpari | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | City Index | Alpari | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | Alpari | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 105 | |
| Forex Pairs (Total) | 66 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | City Index | Alpari | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | N/A | |
| All-in Cost EUR/USD - Active | 0.74 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | Alpari | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $20 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | City Index | Alpari | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | Alpari | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Drawing Tools (Total) | 239 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | Alpari | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | Alpari | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | City Index | Alpari | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | Alpari | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | City Index Review |
| Overall | City Index | Alpari | |
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| Trust Score | 99 | 68 | |
| Winner | check_circle | ||
| Review | City Index Review |
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