Written by ForexBrokers.com
In this head to head comparison of City Index vs FXOpen, 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 FXOpen are both well-known online brokers, yet they differ in trust levels and regulatory credentials. City Index, established in 1983, is publicly traded and holds an impressive ForexBrokers.com Trust Score rating of 99, indicating it is highly trustworthy. It boasts seven Tier-1 licenses, underscoring its strong regulatory standing. In addition, it holds one Tier-2 license. On the other hand, FXOpen, founded in 2003 and not publicly traded, received a Trust Score of 76, reflecting an average risk according to ForexBrokers.com. FXOpen holds two Tier-1 licenses but does not have any Tier-2 licenses.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| Year Founded | 1983 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
City Index offers a competitive fee structure for trading CFDs, forex, and spread-betting products, aligning with industry norms. Traders can achieve optimal pricing by utilizing City Index’s platforms or MetaTrader. The broker provides a Premium Trader account for those depositing over £10,000, offering exclusive pricing benefits and dedicated service. City Index's average spread for the EUR/USD pair is 0.74 pips, which is competitive but still trails leading brokers such as Tickmill and FP Markets. It also offers rebates for active UK and Australian traders, which vary based on trading volume, providing additional cost savings.
FXOpen does not have specific average spread data available, making direct cost comparisons challenging. Despite this, FXOpen maintains a solid reputation with a four-star rating for commissions and fees. City Index is rated slightly higher at 4.5 stars, indicating a marginally better customer experience in fees and associated trading costs.
When it comes to rankings, City Index outperforms FXOpen, taking the 14th spot in the Commissions and Fees category out of 62 brokers as assessed by ForexBrokers.com. In contrast, FXOpen ranks 45th, suggesting that while it offers reasonable cost structures, other brokers may provide more competitive fee arrangements. This comparison highlights City Index's edge in offering advantageous trading terms to both casual and seasoned traders.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| Minimum Deposit | £100.00 | $100 |
| 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.
When comparing the range of investments offered by City Index and FXOpen, there are notable differences in their offerings. City Index stands out with a vast selection of 13,500 tradeable symbols, while FXOpen offers a more modest range of 87 symbols. For forex enthusiasts, City Index provides access to 66 forex pairs, compared to FXOpen's 25 pairs. Both brokers facilitate forex trading as CFDs or spot contracts, and neither offers the option to buy actual shares on international or U.S. exchanges, nor the ability to purchase delivered cryptocurrencies. However, they both allow trading in cryptocurrency derivatives and offer copy trading services.
These variations in offerings are reflected in their ratings and rankings. City Index receives an impressive 5-star rating for its range of investments, placing it at the 8th position among 62 brokers in the ForexBrokers.com rankings. On the other hand, FXOpen is rated at 3 stars and is positioned much lower, at the 61st spot. This comparison suggests that City Index may be more appealing to those seeking a wider array of investment options.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 87 |
| Forex Pairs (Total) | 66 | 25 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When it comes to trading platforms and tools, both City Index and FXOpen cater to the needs of traders by offering simulated trading with free demo accounts. City Index distinguishes itself with a proprietary platform, while FXOpen relies on third-party platforms. Both brokers provide desktop downloads and web-based trading platforms, ensuring flexibility in how traders can access the markets. MetaTrader 4 (MT4) is available with both brokers; however, FXOpen also supports MetaTrader 5 (MT5), which City Index does not. Copy trading is a feature present in both offerings, but while FXOpen offers access to ZuluTrade, City Index does not support this option.
In terms of technical features, City Index offers a significantly greater variety of drawing tools for charting, with 239 options compared to FXOpen's 15. Both brokers allow trading directly from stock charts. When monitoring investments, City Index provides watch lists with 11 columns, surpassing FXOpen’s offer of 7. These advantages contribute to City Index's higher trading platform and tools rating of 4.5 stars compared to FXOpen's 4 stars. Ranked by ForexBrokers.com, City Index is placed at #10 out of 62 brokers in this category, reflecting its strong platform capabilities, whereas FXOpen ranks at #53.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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 | Yes |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Drawing Tools (Total) | 239 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
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When it comes to mobile trading apps, both City Index and FXOpen offer iPhone and Android apps, allowing you to trade on the go with ease. Both brokers support stock and forex price alerts, but City Index has a clear edge in synchronization, enabling watchlist symbol syncing across different devices, ensuring seamless transitions. Although each platform allows you to draw trendlines and view multiple time frames on charts, City Index excels in technical studies, offering 88 compared to FXOpen's 30. Additionally, City Index automatically saves your chart drawings, a feature absent in FXOpen's app. Real-time quotes for creating a watchlist are available on both platforms.
Overall user ratings reflect these differences, with City Index earning a solid 4.5 stars for its mobile trading experience, as ranked by ForexBrokers.com, which places it at #9 out of 62 brokers. FXOpen, on the other hand, receives 4 stars, positioned at #54. These rankings highlight City Index's superior features and greater user satisfaction, making it a strong contender for traders who prioritize a more feature-rich mobile trading app.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| 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.
City Index and FXOpen both provide valuable daily market commentary and access to top-tier forex news from sources like Bloomberg and Reuters, giving traders insights into market movements. However, while City Index enhances its research capabilities with tools from Trading Central and a sentiment-based trading feature that displays position ratios on various currency pairs, FXOpen lacks these features. Both brokers offer economic calendars to keep traders informed about global events, but City Index stands out with a richer set of analytical tools.
In terms of research quality, City Index receives a 4.5-star rating and is ranked 10th out of 62 brokers on ForexBrokers.com, indicating a strong reputation for comprehensive market analysis. Conversely, FXOpen, while providing essential market information, receives a 3-star rating and is ranked last in the Research category, suggesting there is room for improvement in competing with other brokers at this level.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| 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 beginners, City Index stands out significantly over FXOpen. City Index offers a wide range of learning materials on forex and CFDs with over ten pieces including articles, videos, and archived webinars focused on these topics. In addition, they hold monthly online webinars and maintain a searchable archive of past webinars. For those new to trading, City Index provides over ten beginner-friendly educational videos, while also catering to more experienced traders with an equally extensive collection of advanced videos. The platform helps users familiarize themselves with investing terms through an investor dictionary with over fifty definitions. In contrast, FXOpen lacks the same depth of educational offerings, missing out on providing the minimum required educational pieces, webinars, and a comprehensive collection of beginner and advanced videos.
Overall, City Index’s commitment to education is reflected in its higher ratings and rankings. It has received a commendable 4.5 stars for its educational content, securing the 9th spot out of 62 brokers ranked by ForexBrokers.com. Meanwhile, FXOpen trails behind with a 3-star rating and is positioned at 58th in the same ranking. Therefore, for beginners deciding between these two brokers based on educational resources, City Index is a much more favorable option to kickstart a trading journey.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 FXOpen. City Index finished with an overall rank of #8, while FXOpen finished with an overall rank of #54.
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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FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 76 |
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Both City Index and FXOpen do not offer the ability to buy actual delivered cryptocurrency, but they do provide the option to trade cryptocurrency derivatives.
When comparing online brokers City Index and FXOpen, City Index provides a more diverse range of deposit and withdrawal options, supporting ACH, SEPA transfers, PayPal, Visa, Mastercard, and bank wires, whereas FXOpen, although offering the convenience of Skrill along with Visa, Mastercard, and bank wires, does not support ACH, SEPA transfers, or 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 | FXOpen | |
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| Trust Score | 99 | 76 | |
| Winner | check_circle | ||
| Review | City Index Review |
| Broker Screenshots | City Index | FXOpen | |
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| Regulation | City Index | FXOpen | |
|---|---|---|---|
| Trust Score | 99 | 76 | |
| Year Founded | 1983 | 2003 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | City Index | FXOpen | |
|---|---|---|---|
| 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 | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | City Index | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 87 | |
| Forex Pairs (Total) | 66 | 25 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| 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). |
| Cost | City Index | FXOpen | |
|---|---|---|---|
| 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 | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | FXOpen | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $100 | |
| 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 | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | Yes |
| Trading Tools | City Index | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | City Index | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | FXOpen | |
|---|---|---|---|
| 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 |
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| Trust Score | 99 | 76 | |
| Winner | check_circle | ||
| Review | City Index Review |
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