Written by ForexBrokers.com
In this head to head comparison of City Index vs FP Markets, 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 FP Markets are both well-regarded online brokers, but they differ significantly in their background and regulatory standing. Established in 1983, City Index has a long-standing presence in the industry and is publicly traded, which often adds to its credibility. In contrast, FP Markets was founded in 2005 and is not publicly traded. Neither broker is a bank, yet they hold several regulatory licenses that support their trustworthiness.
When comparing their regulatory credentials, City Index holds a commanding position with seven Tier-1 licenses and a Trust Score of 99 out of 99 from ForexBrokers.com, indicating a highly trusted service. FP Markets, while still trusted, has two Tier-1 licenses and a Trust Score of 89. Both brokers maintain one Tier-2 license each, further highlighting their commitment to regulatory standards and client safety. These factors combined offer potential users a solid understanding of how each broker stands in terms of reliability and trust.
| Feature |
City Index
|
FP Markets
|
|---|---|---|
| Year Founded | 1983 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
Comparing commissions and fees, FP Markets generally has the edge over City Index. FP Markets is rated 5/5 stars and ranks #11 of 63 for Commissions and Fees, with “Best in Class” honors in 2024, while City Index is rated 4.5/5 stars and ranks #16 of 63. Both support MetaTrader, but FP Markets’ ECN-style pricing and account choices can deliver lower all-in costs for active forex traders, whereas City Index’s pricing sits around the industry average across CFDs, forex, and spread betting.
City Index: Expect industry-average costs, with the EUR/USD averaging about 0.74 pips (July 2023). You’ll typically get its best pricing on City Index’s own platforms or MetaTrader. High-balance and high-volume clients can lower costs further: the Premium Trader account (for deposits over £10,000) offers exclusive pricing and dedicated service, and active trader rebates can add up (U.K. pro rebates start at £4 per million at £25M+ monthly volume, rising to £7.5 per million above £300M; Australia tiers range from AUD $4.5 to $14.5 per million). Overall: 4.5/5 stars, ranked #16 of 63 for fees.
FP Markets: The Raw ECN account is the standout for pricing, with average EUR/USD spreads of 0.1 pips (October 2023) and about 0.8 pips all-in after a $6 round-turn commission per standard lot; the Standard account averages 1.1 pips. FP supports MetaTrader and cTrader, and its Iress share CFD suite offers DMA with full depth-of-book. Note that Iress ViewPoint is geared to active, higher-balance traders (AUD 1,000–50,000 minimums) and platform/data fees are waived only if you qualify for Premier or generate at least AUD 150 in monthly commissions; the low-cost Iress Investor option has fewer features. Overall: 5/5 stars, ranked #11 of 63 for fees.
| Feature |
City Index
|
FP Markets
|
|---|---|---|
| Minimum Deposit | £100.00 | $100 AUD |
| Average spread (EUR/USD) - Standard account | 1.4 | 1.3 |
| All-in Cost EUR/USD - Active | 0.9 | 0.9 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
City Index vs FP Markets: both support forex trading via CFDs or spot contracts, but their overall product counts differ. City Index lists about 13,500 tradeable symbols compared with FP Markets’ 10,000. When it comes to currencies, FP Markets offers 71 forex pairs while City Index provides 66, so FP Markets edges ahead on pair count, while City Index wins on total market variety.
Neither broker provides direct, exchange-traded U.S. or international shares (only derivatives), and both offer copy trading. For digital assets, you can’t buy actual crypto at either broker, but both let you trade cryptocurrency CFDs. Based on ForexBrokers.com’s Range of Investments ratings, City Index scores 5 stars (ranked #8 of 63), while FP Markets earns 4.5 stars (ranked #16). In short, choose City Index for the widest overall selection of markets, or FP Markets if you prioritize a slightly larger list of forex pairs.
| Feature |
City Index
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 10000 |
| Forex Pairs (Total) | 66 | 71 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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 FP Markets both check the key boxes for trading platforms and tools. Each broker offers a free demo account for paper trading, an in-house proprietary platform, a Windows desktop download, and a web-based (browser) platform. Copy trading is available at both, and each supports MetaTrader 4 (MT4). If you need MetaTrader 5 (MT5), FP Markets has it while City Index does not. Both brokers let you trade directly from charts. While both provide charting and watchlists, specific counts for technical indicators and watchlist fields were not provided.
Based on platform quality and tools, City Index earns 4.5/5 stars and ranks #11 out of 63 brokers, while FP Markets scores 4/5 stars and ranks #22. In short, City Index edges ahead for overall platform experience, whereas FP Markets stands out if MT5 is a must-have.
| Feature |
City Index
|
FP Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and FP Markets both offer mobile apps for iPhone and Android, complete with stock or forex price alerts, trendline drawing tools, and auto-saved chart annotations. City Index stands out for power users with 88 built-in technical studies in its app, while FP Markets relies on the default MetaTrader toolkit for chart indicators. A key difference is watchlist syncing: City Index syncs symbols between the mobile app and your online account, while FP Markets does not, which can matter if you switch between devices often.
In independent testing, the City Index mobile app earned 4.5 out of 5 stars and ranked #9 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com. FP Markets scored 4 out of 5 stars and ranked #20. If you value deeper built-in chart studies and seamless watchlist syncing, City Index is the stronger pick. If you prefer the familiar MetaTrader experience and are fine managing watchlists on-device, FP Markets remains a solid choice.
| Feature |
City Index
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | MetaTrader (Default) |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
City Index and FP Markets both deliver strong market research essentials: daily market commentary, top-tier forex news from sources like Bloomberg, Reuters, or Dow Jones, Trading Central tools for technical and fundamental insights, sentiment indicators showing long vs. short positioning, and an economic calendar. Neither broker offers TipRanks or Acuity Trading tools. A key difference is Autochartist: FP Markets includes Autochartist for pattern recognition and trade ideas, while City Index does not.
For overall research quality, City Index is rated 4.5/5 and ranked #10 out of 63 brokers by ForexBrokers.com, while FP Markets is rated 4/5 and ranked #22. Choose FP Markets if Autochartist is important to your workflow; pick City Index if you want higher-rated research and a top-10 placement for market analysis and forex research.
| Feature |
City Index
|
FP Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
City Index vs FP Markets for beginner education: both online brokers provide dedicated forex and CFD learning centers with well over the minimum needed to qualify as true education programs. Each hosts client webinars at least once per month and offers plenty of on-demand content, including 10+ beginner videos to cover the basics and another 10+ advanced videos for when you’re ready to level up.
For quality and depth, City Index has the edge, earning 4.5 out of 5 stars and ranking #9 out of 63 brokers for Education with ForexBrokers.com. FP Markets is also a solid pick, rated 4 out of 5 stars and ranked #22 out of 63. If top-tier rankings and a slightly stronger learning experience matter, choose City Index; if you want a comprehensive lineup with regular webinars and lots of videos, FP Markets is a fine alternative.
| Feature |
City Index
|
FP Markets
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 FP Markets. City Index finished with an overall rank of #8, while FP Markets finished with an overall rank of #19.
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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FP Markets
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| Trust Score | 99 | 89 |
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As online brokers, City Index and FP Markets do not allow buying actual (delivered) cryptocurrencies; instead, both offer cryptocurrency CFD trading.
City Index vs FP Markets: for deposits and withdrawals, City Index supports ACH/SEPA, PayPal, and bank wire transfers (no Skrill), while FP Markets offers PayPal, Skrill, and bank wire transfers but not ACH/SEPA.
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 | FP Markets | |
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| Trust Score | 99 | 89 | |
| Winner | check_circle | ||
| Review | City Index Review | FP Markets Review |
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| Regulation | City Index | FP Markets | |
|---|---|---|---|
| Trust Score | 99 | 89 | |
| Year Founded | 1983 | 2005 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | City Index | FP Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| 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 | Yes |
| Tier-2 Licenses (Trusted) | City Index | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | City Index | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 10000 | |
| Forex Pairs (Total) | 66 | 71 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | FP Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.4 | 1.3 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.9 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | City Index | FP Markets | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $100 AUD | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | City Index | FP Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes |
| Trading Tools | City Index | FP Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | FP Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 88 | MetaTrader (Default) | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | City Index | FP Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | FP Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | City Index | FP Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | City Index Review | FP Markets Review |
| Overall | City Index | FP Markets | |
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| Trust Score | 99 | 89 | |
| Winner | check_circle | ||
| Review | City Index Review | FP Markets Review |
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