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 | 1 |
When comparing City Index and FP Markets based on commissions and fees, both brokers offer unique advantages for online trading. City Index provides competitive pricing for trading CFDs, forex, and spread-betting products, aligning with industry standards. They offer options like the Premium Trader account, which is available for active traders depositing over £10,000 and provides special pricing and services. Their average spread on EUR/USD is 0.74 pips, aligning with the industry average but falling short of leaders like FP Markets. City Index has a 4.5-star rating and is ranked 14th out of 63 brokers by ForexBrokers.com for commissions and fees.
In contrast, FP Markets distinguishes itself with highly competitive pricing through its MetaTrader and cTrader platforms, particularly for its ECN account. This has earned FP Markets Best in Class honors for commissions and fees in the 2024 Annual Awards. The Raw ECN account features a competitive spread averaging 0.1 pips, while the Standard account covers 1.1 pips for EUR/USD. The broker also provides Direct Market Access via its Iress platform for share CFDs, which is optimal for active traders with high-balance accounts. FP Markets boasts a 5-star rating and is ranked 6th out of 63 brokers in the commissions and fees category by ForexBrokers.com.
Ultimately, FP Markets takes the lead in providing cost-effective options for traders seeking low commissions and competitive spreads, especially with its Raw ECN account. In comparison, City Index offers a solid choice with accessible average costs and specialized accounts like the Premium Trader for those who meet the criteria. Whether you're an active trader or using lower volume, each broker has tailored options catering to different trading needs.
| 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 and FP Markets both provide a strong platform for forex trading, allowing clients to trade forex as CFDs or spot contracts. City Index offers an extensive selection of 13,500 tradeable symbols compared to FP Markets' 10,000. When it comes to forex pairs, FP Markets provides a slight edge with 71 pairs, while City Index offers 66. Unfortunately, neither platform allows for the purchase of exchange-traded securities on U.S. or international exchanges, so clients cannot directly invest in popular stocks like Apple or Vodafone.
For those interested in new investment trends, both City Index and FP Markets support trading cryptocurrency derivatives, although neither offers the purchasing of actual cryptocurrencies. Both brokers support copy trading, enabling traders to replicate the strategies of others. While City Index boasts a five-star rating for its range of investments and ranks #8 among 63 brokers on ForexBrokers.com, FP Markets still holds a respectable 4.5-star rating, coming in at #18 in the same category. This likely makes either platform a worthy consideration based on their strengths and particular investment focus.
| 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 | 1 |
| 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) | 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 | Yes |
| Tier-2 Licenses (Trusted) | City Index | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| 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) | No | No |
| 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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