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 |
When it comes to commissions and fees, City Index offers competitive rates for trading CFDs, forex, and spread-betting products, aligning well with the industry average. The best pricing can be achieved through their proprietary platforms or MetaTrader. Active traders with a Premium Trader account, available for deposits over £10,000, gain access to unique pricing benefits, exclusive events, and personalized customer service. The average spread for City Index’s CFD account is 0.74 pips on the EUR/USD, which is comparable to the industry standard but falls short compared to top forex brokers like Tickmill and FP Markets. UK-based professional traders may benefit from rebates starting at £4 per million for trading over £25 million each month, increasing to £7.5 per million for larger volumes. Similarly, Australian traders can earn rebates from AUD $4.5 per million to AUD $14.5 per million, depending on their trading tier.
Alpari's specifics on average spread data remain unavailable, positioning its offer as a contrast to City Index's more transparent fee structure. While both brokers provide viable options for traders, the additional transparency from City Index, especially regarding average spreads and rebate offerings, may be appealing to traders focused on cost-saving opportunities.
City Index holds a commendable rating of 4.5 stars out of five for its commissions and fees, ranking it at #14 out of 63 brokers assessed by ForexBrokers.com. Meanwhile, Alpari receives a slightly lower rating of 4 stars, placing it at #41 in the same category. This demonstrates City Index's stronger positioning in terms of overall value for money and fee structure.
| 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 forex trading as CFDs or spot contracts; however, City Index significantly outpaces Alpari in the number of tradeable symbols and forex pairs. City Index boasts 13,500 tradeable symbols and 66 forex pairs, while Alpari offers a more modest selection of 105 tradeable symbols and 46 forex pairs. Neither platform provides exchange-traded securities on U.S. exchanges, but Alpari stands out by offering access to international securities, allowing clients the option to invest in shares like Vodafone on the London Stock Exchange, a feature City Index does not offer.
For those interested in copy trading, both City Index and Alpari deliver this feature, catering to traders looking to follow the strategies of more experienced investors. When it comes to cryptocurrency, each broker offers derivatives, but neither supports the purchase of actual cryptocurrencies. City Index is rated 5 stars for its range of investments and ranks 8th among 63 brokers according to ForexBrokers.com, reflecting its extensive offerings. Alpari, on the other hand, is rated 3 stars and ranks last, indicating room for improvement in expanding its investment options.
| 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.
City Index and Alpari both offer a range of trading platforms that cater to the needs of various traders. Both brokers provide simulated trading with free demo accounts, allowing users to practice before engaging in real trades. They each offer proprietary platforms and Windows-based desktop downloads. Web-based platforms are also available, ensuring traders can access the market through browsers. Copy trading is supported by both brokers, and they also provide access to the popular MetaTrader 4 (MT4) platform. However, only Alpari offers the more advanced MetaTrader 5 (MT5). Both brokers do not support DupliTrade or ZuluTrade.
When it comes to tools, City Index offers a more extensive set, featuring 239 drawing tools for charting, which is significantly higher than Alpari's 15. City Index also provides users with 11 fields for watch lists compared to Alpari's 7. Both brokers allow for direct trading from stock charts. In terms of ratings, City Index holds an edge with 4.5 stars for its trading platforms and tools, whereas Alpari is rated 4 stars. According to ForexBrokers.com, City Index ranks 11th among 63 brokers for its trading platforms and tools, while Alpari is positioned at 55th.
| 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.
When comparing the mobile trading apps of City Index and Alpari, both brokers provide apps for iPhone and Android devices, along with essential features like stock or forex price alerts and real-time quote watchlists. City Index, however, excels in several areas that may appeal to traders seeking more sophisticated tools. This includes offering 88 technical studies for charting compared to Alpari’s 30, and the ability to sync watchlist symbols across devices—something Alpari lacks. Additionally, City Index allows users to auto-save chart drawings, while Alpari does not.
Both apps support trendlines and multiple time frame views, but City Index earns a marginally higher user rating of 4.5 stars compared to Alpari's 4 stars. The higher app rank of #9 for City Index compared to #56 for Alpari on ForexBrokers.com further underscores its enhanced mobile trading experience. These features make the City Index app an attractive choice for traders seeking a more comprehensive mobile trading toolset.
| 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 the market research features of online brokers City Index and Alpari, there are notable differences and similarities. City Index excels with features like daily market commentary, forex news from top-tier sources, and a sentiment-based trading tool that gives insight into market positions. They also provide tools from Trading Central, such as Technical Analytics, and have an economic calendar for tracking global news events. On the other hand, Alpari does not offer daily commentary or sentiment tools, but it does supply forex news from renowned sources and includes technical analysis tools from Autochartist. Alpari, like City Index, maintains an economic calendar for its users.
In terms of overall research quality, City Index is rated significantly higher at 4.5 stars compared to Alpari’s 3 stars, according to ForexBrokers.com. City Index's advanced research tools and resources contribute to its favorable ranking of #10 out of 63 brokers in the Research category. Alpari, with its differing toolset, is ranked at #57, indicating a more limited research offering in comparison. This comprehensive assessment highlights City Index as a superior choice for traders who heavily rely on research and analytical tools for informed decision-making.
| 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.
City Index and Alpari both provide a variety of educational resources for beginner traders looking to learn about forex and CFDs. City Index stands out with its comprehensive offerings; it not only provides over ten educational pieces, such as articles and videos, but also hosts online client webinars each month, with a searchable archive of past sessions. Additionally, they offer a rich selection of videos tailored for both beginners and more advanced traders. Furthermore, City Index includes an investor dictionary, which helps users familiarize themselves with investment terminology. As a result, City Index earns a 4.5-star education rating and holds the impressive rank of 9th out of 63 brokers according to ForexBrokers.com.
On the other hand, Alpari offers a more limited suite of educational tools. While it does provide beginners with more than ten educational pieces and videos, it lacks monthly educational webinars and a searchable archive of these sessions. The content available tends to focus more on introductory trading concepts, without progressing significantly into advanced topics. Nonetheless, Alpari does offer an investor dictionary similar to City Index, which aids in understanding trading terms. Given these limitations, Alpari is rated with 3 stars for its educational offerings and is ranked 48th among 63 brokers by ForexBrokers.com.
| 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 63 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 #58.
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 |
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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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