Written by ForexBrokers.com
In this head to head comparison of City Index vs FXCM, 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, established in 1983, and FXCM, founded in 1999, are both reputable online brokers with a strong presence in the financial market. As publicly traded companies, both have demonstrated their commitment to transparency and regulation. City Index boasts an impressive ForexBrokers.com Trust Score of 99 out of 99, reflecting its exemplary standing as a highly trusted broker. This is supported by its possession of seven Tier-1 licenses and one Tier-2 license, indicating its strong regulatory compliance.
FXCM, though slightly younger, also holds its ground with a solid ForexBrokers.com Trust Score of 95 out of 99, marking it as a highly trusted broker. FXCM holds four Tier-1 licenses and two Tier-2 licenses, further emphasizing its commitment to maintaining regulatory standards. While neither City Index nor FXCM is a bank, both brokers have cemented their reputations as reliable choices for traders by adhering to stringent regulatory expectations, making them trusted names in the world of online trading.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Year Founded | 1983 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 7 | 4 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing City Index to FXCM on commissions and fees, both brokers are well-regarded, but their pricing structures differ slightly in competitiveness. City Index, with a solid 4.5-star rating, is ranked 14th out of 62 brokers by ForexBrokers.com for its commissions and fees. Their pricing for CFDs, forex, and spread-betting products aligns with industry norms, especially if you use their proprietary platforms or MetaTrader. City Index’s Premium Trader account caters to active traders with significant deposits, offering exclusive pricing and dedicated support. Their average spread on the EUR/USD stands at 0.74 pips, in line with the industry, but not as competitive as top brokers like Tickmill.
FXCM, on the other hand, holds a 4-star rating and ranks 24th in the same category. While their forex pricing tends to be slightly above the industry average, FXCM offers commission-based accounts with competitive spreads, averaging 0.28 pips before commissions. However, this translates to an effective spread around 0.74 pips after adding commissions, which is comparable to City Index. FXCM provides notable discounts through its Active Trader Rebate Program, although it’s not available in the U.K. or EU. This program offers rebates across five tiers, where traders can earn a rebate between $5 to $25 per million traded, but the requirements vary by region.
Ultimately, both City Index and FXCM present viable options for traders, though those seeking more aggressive pricing may find City's offerings slightly more appealing due to its specialized accounts and exact trading conditions. Yet, active traders might still consider FXCM if eligible for their rebate tiers outside restricted regions. Taking into account the rankings and ratings, City Index may have a slight edge for those prioritizing overall cost efficiency.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Minimum Deposit | £100.00 | Starts from $50 |
| Average Spread EUR/USD - Standard | 1.4 | 0.78 |
| All-in Cost EUR/USD - Active | 0.74 | 0.78 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| 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 it comes to offering a wide range of investment options, City Index stands out compared to FXCM. City Index provides access to an impressive 13,500 tradeable symbols, significantly surpassing FXCM's 440 available symbols. In terms of forex trading, both brokers offer CFDs, with City Index presenting 66 tradeable forex pairs while FXCM offers 43. While neither broker provides direct access to exchange-traded securities on U.S. or international exchanges, both support copy trading, enhancing the opportunities for investors to diversify their portfolios through others' trading strategies.
For those interested in cryptocurrency, both City Index and FXCM offer derivative trading options rather than direct purchases of cryptocurrencies. Reflecting its extensive range of investment opportunities, City Index boasts a 5-star rating for Range of Investments, ranking 8th among 62 brokers according to ForexBrokers.com. Meanwhile, FXCM holds a 3.5-star rating and is positioned at 47th in the same category. This highlights City Index as a more versatile choice for traders looking for a broad selection of investment options.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 440 |
| Forex Pairs (Total) | 66 | 43 |
| 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). | 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.
City Index and FXCM are both reputable online brokers offering an array of trading platforms and tools, catering to both new and experienced traders. Both brokers provide simulated trading through free virtual demo accounts, helping users practice and refine their strategies. Each has its proprietary platform, ensuring a tailored trading experience, and supports additional trading on MetaTrader 4, though neither offers MetaTrader 5. Traders can access both Windows-based desktop platforms and web-based platforms across these brokers. Notably, while City Index and FXCM both support copy trading, only FXCM integrates with ZuluTrade, expanding its social trading capabilities.
Charting features at City Index include an impressive 239 drawing tools, significantly more than FXCM's 10, although both platforms allow trading directly from stock charts. FXCM outshines City Index slightly in technical watch list customization by offering more fields and is ranked higher by ForexBrokers.com, placed at 6th compared to City Index's 10th in the Trading Platforms and Tools category. Ratings reflect a similar trend, with FXCM achieving a full 5-stars versus City Index's 4.5-star rating, showcasing FXCM's superiority in platform tools and user satisfaction.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| 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 | No |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 115 |
| Charting - Drawing Tools (Total) | 239 | 10 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 13 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of City Index and FXCM, both stand out as strong contenders offering comprehensive features. Both brokers provide user-friendly apps available for iPhone and Android devices, complete with essential functions like stock and forex price alerts and watchlist symbol syncing that ensures consistency across devices. Notably, City Index boasts 88 technical studies in its mobile app for advanced charting, compared to FXCM’s 59, giving City Index an edge for those who rely heavily on technical analysis. Both brokers allow users to draw trendlines, view charts in multiple time frames, and automatically save chart drawings, emphasizing their commitment to a seamless trading experience.
City Index and FXCM both allow the creation of watchlists featuring real-time quotes, which is a significant plus for traders seeking timely information. They each earn a 4.5-star rating for their mobile apps, demonstrating a high level of user satisfaction. However, in the competitive arena of mobile trading platforms, City Index is ranked slightly higher at #9 compared to FXCM’s #16, as per ForexBrokers.com. This higher ranking could be pivotal for traders deciding between the two, especially for those who prioritize advanced charting tools and a higher overall ranking in broker comparisons.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 59 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both City Index and FXCM provide solid market research offerings, catering well to traders looking for insights and analysis. Each platform supplies daily market commentary and sources forex news from reputable outlets like Bloomberg and Reuters, ensuring traders stay informed with reliable information. While neither broker supports Autochartist tools, they both provide access to Technical Analytics through Trading Central. Additionally, sentiment-based trading tools are available on both platforms, helping traders gauge market positions across various instruments. Both brokers also furnish users with an economic calendar to monitor global news events, making them well-equipped for comprehensive market analysis.
However, there are some differences in their research tool integrations. Notably, FXCM offers market research through TipRanks, an option not available with City Index. Neither offers tools from Acuity Trading, such as Signal Centre. Despite these variations, both brokers earn a commendable 4.5-star rating for research quality, indicating a high level of satisfaction among users. In terms of rankings by ForexBrokers.com, City Index edges slightly ahead, claiming the 10th spot, while FXCM is ranked 11th out of 62 brokers, reflecting their close competition in providing valuable research resources.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational offerings of City Index and FXCM, both platforms excel in providing resources for beginner traders interested in forex and CFDs. Each broker delivers a comprehensive educational experience, with more than ten articles, videos, and webinars dedicated to educating their clients about forex and CFDs trading. Both platforms host at least one online educational webinar every month and maintain an easily accessible archive of recorded sessions for users to review at their convenience.
City Index and FXCM both supply beginner traders with a wealth of educational content, offering over ten beginner-focused trading videos and resources. They also provide advanced educational materials, ensuring traders at every skill level have access to valuable insights. Moreover, each broker features a detailed investor dictionary, presenting definitions for over 50 trading terms to aid learning. Despite both receiving a solid rating of 4.5 stars for their educational resources, City Index is ranked slightly higher at #9 compared to FXCM's #14 ranking by ForexBrokers.com, suggesting a marginal edge in educational quality.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 FXCM. City Index finished with an overall rank of #8, while FXCM finished with an overall rank of #15.
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
|
FXCM
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 95 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both City Index and FXCM do not offer the ability to buy actual delivered cryptocurrency, instead providing options to trade cryptocurrency derivatives.
Both City Index and FXCM provide multiple options for depositing and withdrawing funds including ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires, although only FXCM additionally supports Skrill.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | City Index | FXCM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | City Index Review | FXCM Review |
| Broker Screenshots | City Index | FXCM | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | City Index | FXCM | |
|---|---|---|---|
| Trust Score | 99 | 95 | |
| Year Founded | 1983 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 4 | |
| Tier-2 Licenses | 1 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | City Index | FXCM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| 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 | FXCM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | FXCM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 440 | |
| Forex Pairs (Total) | 66 | 43 | |
| 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). | 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 | FXCM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 0.78 | |
| All-in Cost EUR/USD - Active | 0.74 | 0.78 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | FXCM | |
|---|---|---|---|
| Minimum Deposit | £100.00 | Starts from $50 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | City Index | FXCM | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | City Index | FXCM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 13 | |
| Charting - Indicators / Studies (Total) | 88 | 115 | |
| Charting - Drawing Tools (Total) | 239 | 10 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | FXCM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 88 | 59 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | FXCM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | FXCM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | FXCM | |
|---|---|---|---|
| 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 | FXCM Review |
| Overall | City Index | FXCM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | City Index Review | FXCM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill