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 account | 1.4 | 1.2 |
| All-in Cost EUR/USD - Active | 0.74 | 0.7 |
| 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 brokers offer forex trading (CFD or spot) and support crypto via CFDs, but neither lets you buy actual crypto or exchange-traded shares on U.S. or international stock exchanges. Both also provide copy trading. For overall market access, City Index lists about 13,500 tradeable symbols compared with roughly 10,000 at FP Markets.
If your focus is forex pairs, FP Markets has a slight edge with 71 pairs versus 66 at City Index. That said, City Index earns a higher Range of Investments score (5 stars) and a stronger category placement (#8 of 63) compared with FP Markets’ 4.5 stars and #19 ranking. In short: choose City Index for broader variety across markets, or pick FP Markets if you want a few more currency 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 cover the essentials for modern traders. Each offers a free demo account for paper trading, a proprietary platform alongside MetaTrader 4 (MT4), plus both web-based and Windows desktop platforms. Copy trading is available at both brokers, and you can place orders directly from charts, which makes it easier to act on setups without switching screens.
The key difference is MetaTrader 5 (MT5): FP Markets supports MT5, while City Index does not. According to ForexBrokers.com, City Index earns 4.5 out of 5 stars for Trading Platforms and Tools and ranks #11 out of 63 brokers, while FP Markets scores 4 out of 5 stars and ranks #23 out of 63. If you need MT5 or want to run both MT4 and MT5, FP Markets has the edge; if you prioritize a higher-rated overall platform experience, City Index is the stronger pick.
| 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 trading apps for iPhone and Android, plus price alerts for forex and stocks. City Index stands out with watchlist syncing between the app and web platform, while FP Markets does not sync watchlists. For charting, City Index provides 88 technical studies inside its app. FP Markets uses MetaTrader’s default indicator set. Both apps let you draw trendlines and automatically save your chart drawings.
For overall mobile experience, City Index earns 4.5 out of 5 stars and ranks #9 of 63 brokers on ForexBrokers.com, compared with FP Markets at 4 stars and #18. Choose City Index if you want richer in-app chart studies and seamless watchlist syncing. Pick FP Markets if you prefer the familiar MetaTrader environment and its standard tools.
| 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 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 (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 and FP Markets both deliver full forex and CFD education libraries that easily clear the “10+ pieces” bar, with articles, videos, and archived webinars. Beginners get plenty of help at either broker: each offers at least 10 beginner-focused videos and runs online educational webinars at least once a month. That mix makes it simple to start with basics, ask questions live, and review lessons on your own time.
Where they differ is in quality scores. City Index earns 4.5 stars for Education and ranks #9 out of 63 brokers on ForexBrokers.com, while FP Markets earns 4 stars and ranks #23. Both also provide at least 10 advanced videos for when you’re ready to level up. If education is a top priority, City Index has the edge; if you want plentiful beginner content and regular webinars, FP Markets still does the job well.
| 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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|---|---|---|
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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 |
| Broker Screenshots | City Index | FP Markets | |
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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, 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 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.74 | 0.7 | |
| 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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