Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare Alpari vs City Index.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Both Alpari and City Index share a rating of 4.00 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. City Index is regulated in a major hub while Alpari is not. City Index is a publicly traded company, while Alpari is not. How many currency pairs are available to trade? Alpari trails City Index by 36 total currency pairs (for example, EUR/USD), with City Index offering 84 and Alpari offering 48.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Alpari alongside City Index offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Alpari boasts an offering of 31 charting tools compared to City Index's 25 available charting tools. City Index offers its clients access to 139 different indicators (for example, volume) while Alpari has 51 available indicators, a difference of 88.
Overall, City Index takes the upper hand with 4.50 stars over Alpari's 3.50 stars. And, when it comes to individual category awards, neither Alpari nor City Index were rated Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.