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 tends to be cheaper than City Index for forex and CFD trading—especially on its commission-based Raw ECN account. FP Markets’ Raw spreads averaged 0.1 pips as of October 2023 (about 0.8 pips all-in after a $6 round-turn commission per standard lot), while City Index’s EUR/USD spread averaged 0.74 pips as of July 2023, which is around the industry average. Reflecting this, FP Markets holds a 5/5 star rating and ranks #6 out of 63 brokers for Commissions and Fees, while City Index is rated 4.5/5 stars and ranks #15.
City Index pricing is most competitive on its proprietary platforms and MetaTrader. Its CFD account’s typical EUR/USD spread (0.74 pips, July 2023) puts overall costs near the market average. Active traders may qualify for the Premium Trader account (deposit over £10,000) for access to exclusive pricing and service. City Index also offers volume-based rebates: in the U.K., £4 per million starting above £25M in monthly volume, rising to £7.5 per million above £300M; in Australia, AUD $4.5 to $14.5 per million depending on tier.
FP Markets is known for aggressive pricing on MetaTrader and cTrader and earned Best in Class for Commissions and Fees in 2024. Its Standard account averages 1.1 pips on EUR/USD (October 2023), while the Raw ECN account uses tight spreads plus a $6 round-turn commission. For share CFDs, FP Markets’ Iress platform offers DMA pricing with full depth of book. Iress ViewPoint comes with higher minimums (AUD 1,000 Standard; AUD 25,000 Platinum; AUD 50,000 Premier) and potential platform/data fees unless you qualify for Premier or generate at least AUD 150 in monthly commissions. The Iress Investor account waives monthly fees but has more limited market data and charting.
| Feature |
City Index
|
FP Markets
|
|---|---|---|
| Minimum Deposit | £100.00 | $100 AUD |
| Average Spread EUR/USD - Standard | 1.4 | 1.2 |
| All-in Cost EUR/USD - Active | 0.74 | 0.7 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| 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.
City Index vs FP Markets: When it comes to range of investments, City Index lists about 13,500 tradeable symbols, while FP Markets offers around 10,000. For forex, both let you trade via CFDs or spot contracts; FP Markets edges ahead with 71 currency pairs compared with City Index’s 66. Both brokers support copy trading. For crypto exposure, each offers cryptocurrency derivatives, but neither lets you buy actual coins. Also note that neither broker provides direct share dealing on U.S. or international exchanges—stock exposure is available through CFDs only.
City Index earns 5 stars for Range of Investments and ranks #8 out of 63 brokers at ForexBrokers.com, while FP Markets holds 4.5 stars and ranks #19 of 63. Choose City Index if overall instrument count matters most, or FP Markets if you want slightly more forex pairs; both cover the essentials for CFD-focused traders.
| Feature |
City Index
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 10000 |
| Forex Pairs (Total) | 66 | 71 |
| 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.
When it comes to trading platforms and tools, both City Index and FP Markets offer traders a comprehensive set of options. They each provide a free virtual demo account, allowing users to practice trading strategies without financial risk. Both brokers boast proprietary trading platforms, Windows-based desktop applications, and web-based platforms, ensuring flexibility for all types of traders. Copy trading is available through both brokers, and while City Index includes MetaTrader 4 (MT4) in their offerings, FP Markets extends this with MetaTrader 5 (MT5) as well. However, neither broker provides DupliTrade or ZuluTrade as part of their services.
In terms of charting capabilities, City Index stands out with a substantial offering of 239 drawing tools compared to FP Markets' 17. Both brokers allow trading directly from stock charts, a feature that enhances user experience by streamlining the trading process. City Index leads in customization with watch lists that offer up to 11 different columns, whereas FP Markets provides 7. City Index scores a higher rating of 4.5 stars for Trading Platforms and Tools compared to FP Markets' 4 stars, reflecting their strength in this area. Consequently, City Index is ranked #11 among 63 brokers by ForexBrokers.com for trading platforms, outperforming FP Markets, which ranks #23.
| Feature |
City Index
|
FP Markets
|
|---|---|---|
| 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 | 17 |
| 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 FP Markets, there are several factors to consider. Both brokers provide apps compatible with iPhone and Android devices, and both offer stock or forex price alerts. Additionally, they allow users to draw trendlines on charts and view various time frames, such as daily or weekly. However, City Index stands out for its ability to sync watchlists with the online account, capturing changes made on either the app or desktop version. FP Markets, on the other hand, does not offer this feature. Moreover, City Index boasts an impressive 88 technical studies for charting while FP Markets uses the MetaTrader default options, which may limit some options for in-depth analysis. Both apps automatically save chart drawings and let users create watchlists with real-time quotes, making them convenient for traders on the go.
In terms of ratings, City Index edges out FP Markets with a 4.5-star rating compared to FP Markets’ 4 stars. According to ForexBrokers.com, City Index is ranked 9th for its mobile trading app among 63 brokers, while FP Markets is ranked 18th. This higher ranking reflects City Index’s comprehensive features and user-friendly experience. Both apps cater well to traders' needs, but City Index offers a more connected experience for those who rely heavily on watchlist syncing and extensive charting tools.
| Feature |
City Index
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | MetaTrader (Default) |
| 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.
City Index and FP Markets both provide comprehensive market research options for traders. Both platforms offer daily market commentary and top-tier forex news from respected sources such as Bloomberg and Reuters, ensuring that clients stay informed about market trends. While both offer technical analytics from Trading Central as well as sentiment-based trading tools, FP Markets distinguishes itself by providing additional technical analysis tools from Autochartist, which City Index does not offer. On the flip side, neither broker features market research from TipRanks or tools from Acuity Trading.
When it comes to overall research ratings, City Index edges ahead with a slightly higher rating of 4.5 out of 5 stars compared to FP Markets' 4 stars. Furthermore, City Index ranks #10 in the research category out of 63 brokers on ForexBrokers.com, whereas FP Markets holds the #25 spot. Both platforms offer economic calendars to keep traders updated on global events, but for those prioritizing research resources, City Index's higher rating and ranking might make it the preferred choice.
| Feature |
City Index
|
FP Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners at City Index and FP Markets, both online brokers offer substantial learning tools. City Index provides a comprehensive selection of over 10 educational pieces primarily focused on forex and CFDs. Similarly, FP Markets matches this offering with its own extensive library. Both brokers also conduct monthly online educational webinars and maintain searchable archives of past sessions, allowing clients to revisit and review material at their convenience. Moreover, they each offer more than 10 videos tailored specifically for beginners who are looking to explore trading topics. While City Index and FP Markets both supply investor dictionaries with definitions for at least 50 investing terms, City Index not only meets beginner needs but extends its educational reach with over 10 advanced videos for more experienced traders.
In terms of educational ratings, City Index receives 4.5 stars while FP Markets scores slightly lower at 4 stars. Ranked by ForexBrokers.com among 63 brokers for educational offerings, City Index comes in at an impressive #9, indicating a strong commitment to trader education. FP Markets, on the other hand, is positioned at #23, reflecting solid but slightly less competitive educational support. This highlights City Index's superior positioning in offering trader education, making it potentially more attractive to those just starting in forex and CFDs trading.
| Feature |
City Index
|
FP Markets
|
|---|---|---|
| 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 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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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 89 |
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Both City Index and FP Markets allow investors to trade cryptocurrency derivatives, but neither platform provides the option to purchase actual (delivered) cryptocurrencies.
When comparing City Index to FP Markets for online trading, City Index offers a more diverse range of funding options, including ACH, SEPA, PayPal, Visa, Mastercard, and bank wires, while FP Markets supports PayPal, Skrill, Visa, Mastercard, and bank wires but lacks ACH and SEPA transfers, offering users varied choices for deposit and withdrawal methods.
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 (SFC 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/Central Bank 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. 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 | FP Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.74 | 0.7 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| 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 | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | City Index | FP Markets | |
|---|---|---|---|
| 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 | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | FP Markets | |
|---|---|---|---|
| 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 | 17 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 88 | MetaTrader (Default) | |
| 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 | FP Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | FP Markets | |
|---|---|---|---|
| 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 | FP Markets | |
|---|---|---|---|
| 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 | 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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