Written by ForexBrokers.com
In this head to head comparison of City Index vs FXOpen, 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 FXOpen are both well-known online brokers, yet they differ in trust levels and regulatory credentials. City Index, established in 1983, is publicly traded and holds an impressive ForexBrokers.com Trust Score rating of 99, indicating it is highly trustworthy. It boasts seven Tier-1 licenses, underscoring its strong regulatory standing. In addition, it holds one Tier-2 license. On the other hand, FXOpen, founded in 2003 and not publicly traded, received a Trust Score of 76, reflecting an average risk according to ForexBrokers.com. FXOpen holds two Tier-1 licenses but does not have any Tier-2 licenses.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| Year Founded | 1983 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
City Index offers competitive pricing for trading CFDs, forex, and spread-betting, aligning with the industry average. The best rates are available through City Index’s proprietary platforms and MetaTrader. Their Premium Trader account, for traders depositing more than £10,000, provides exclusive benefits such as better pricing and dedicated customer service. For a standard CFD account, City Index’s average spread on the EUR/USD is 0.74 pips as of July 2023. Active trader rebates are available, with notable discounts starting at £4 per million for U.K.-based traders and AUD $4.5 per million in Australia. City Index is rated 4.5 stars for commissions and fees, ranking #14 out of 63 brokers by ForexBrokers.com.
On the other hand, FXOpen does not provide specific average spread data, making direct fee comparison challenging. Despite this, FXOpen remains a viable option with a commissions and fees rating of 4 stars. When ranked by ForexBrokers.com, FXOpen stands at #44 out of 63 brokers in the Commissions and Fees category, reflecting a less competitive position compared to City Index.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| Minimum Deposit | £100.00 | $100 |
| 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 FXOpen both provide forex trading through CFDs or spot contracts, catering to traders who want to explore currency markets. However, City Index distinctly outshines FXOpen in terms of the overall range of available investments. With an impressive 13,500 tradable symbols and 66 forex pairs, City Index offers a significantly broader selection compared to FXOpen’s 87 symbols and 25 forex pairs. Both brokers provide options for cryptocurrency derivatives but do not offer the ability to purchase actual cryptocurrencies. Additionally, neither broker supports the purchase of exchange-traded securities on U.S. or international exchanges, such as Apple or Vodafone shares.
While both platforms facilitate copy trading, the extent of investment options greatly impacts their rankings. ForexBrokers.com rates City Index with 5 stars for its investment range and positions it at an esteemed 8th out of 63 brokers. FXOpen, on the other hand, receives a more modest 3 stars and ranks 62nd, highlighting a narrower array of investment opportunities. Whether you prioritize a wide variety of trading instruments or prefer a straightforward selection, these distinctions can guide your choice between City Index and FXOpen.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 87 |
| Forex Pairs (Total) | 66 | 25 |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools of City Index and FXOpen, both companies offer a range of features to suit traders' needs. Both provide access to simulated trading through a free virtual demo account, as well as their own web-based and Windows-based desktop download platforms. However, City Index sets itself apart by offering a proprietary platform developed in-house, which could be appealing to traders looking for a unique and tailored experience. While both brokers support MetaTrader 4 for traders preferring third-party platforms, only FXOpen offers MetaTrader 5, providing access to more advanced features for technical analysis. City Index excels in charting capabilities with 239 drawing tools compared to FXOpen's 15, giving traders a wider array of options for chart customization.
Traders looking for social trading functionalities will find both brokers offer copy trading, although only FXOpen provides ZuluTrade, broadening the social trading experience. In terms of managing market information, City Index offers 11 columns for watch lists compared to FXOpen's seven, aiding traders who value detailed data at their fingertips. After evaluating their offerings, City Index receives a higher rating with 4.5 stars for its trading platforms and tools, ranking 11th out of 63 brokers on ForexBrokers.com. In contrast, FXOpen is rated slightly lower at 4 stars, placing it 53rd in the same category. These distinctions highlight the strengths and weaknesses of each broker, helping potential traders make an informed decision based on their personal trading priorities.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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 | Yes |
| 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 FXOpen, both brokers provide iPhone and Android app compatibility, allowing users to trade on the go. City Index and FXOpen ensure that traders receive crucial stock or forex price alerts across their platforms. Both also allow users to draw trendlines on charts and view multiple time frames, giving traders flexibility in their analysis. However, City Index stands out for offering 88 technical studies on its charts compared to FXOpen's 30, adding more depth to technical analysis. Additionally, City Index provides a more seamless experience with its watchlist symbol syncing, allowing watchlists to sync across the mobile app and online accounts, a feature that FXOpen lacks. Moreover, City Index’s app automatically saves chart drawings, which FXOpen’s does not.
In terms of ratings and rankings, City Index's mobile trading app has earned 4.5 stars, and it ranks ninth out of 63 brokers on ForexBrokers.com. On the other hand, FXOpen's app holds a slightly lower rating of 4 stars and is ranked 54th. Both platforms allow users to create watchlists with real-time quotes, but City Index appears to provide a more comprehensive and user-friendly experience overall. For traders seeking a mobile app with extensive technical analysis features and better integration with online accounts, City Index emerges as the stronger choice compared to FXOpen.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| 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.
Both City Index and FXOpen provide daily market commentary and forex news from well-regarded sources like Bloomberg and Reuters, helping traders stay informed. While neither broker offers Autochartist tools, City Index stands out with the inclusion of Trading Central's Technical Analytics, something FXOpen lacks. City Index also offers a sentiment-based trading tool that reveals the ratio of long and short positions across various instruments, an additional feature not provided by FXOpen. Despite both brokers offering an economic calendar for global events, City Index's superior analytical tools make it a preferred choice for those seeking enhanced market insight.
In terms of overall research capability, City Index scores a 4.5-star rating compared to FXOpen's 3-star rating. This difference in ratings may reflect City Index's comprehensive range of tools and features. Ranked 10th by ForexBrokers.com, City Index presents a more substantial research offering compared to FXOpen, who ranks last among 63 brokers. Thus, for traders seeking a rich array of research tools and services, City Index appears to be the more effective option.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| 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.
When considering educational resources for beginners in online trading, City Index stands out compared to FXOpen. City Index excels by offering a variety of learning materials, including over 10 pieces focused on forex and CFDs, ranging from articles to videos and archived webinars. They also provide monthly educational webinars, which are accessible through a searchable archive for ongoing learning. Beginners can benefit from more than 10 dedicated videos, while seasoned traders have access to advanced tutorials. An extensive investor dictionary with over 50 terms further enhances learning, making trading concepts more accessible. This comprehensive educational approach earns City Index a notable 4.5-star rating.
In contrast, FXOpen falls short in educational offerings with less focus on beginner resources. They do provide an investor dictionary with definitions of at least 50 investing terms, but lack the variety and volume of other educational tools available at City Index. Without regular webinars or a searchable archive of recorded sessions, newcomers may find fewer opportunities to deepen their understanding of trading dynamics. These differences put FXOpen at a 3-star rating for education, reflecting their limited support for beginners compared to City Index. ForexBrokers.com ranks City Index as the 9th best among 63 brokers for education, while FXOpen stands at 58th, underscoring City Index's superior educational infrastructure.
| Feature |
City Index
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 FXOpen. City Index finished with an overall rank of #8, while FXOpen finished with an overall rank of #54.
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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FXOpen
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 76 |
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Both City Index and FXOpen do not offer the ability to buy actual delivered cryptocurrency, but they do provide the option to trade cryptocurrency derivatives.
When comparing online brokers City Index and FXOpen, City Index provides a more diverse range of deposit and withdrawal options, supporting ACH, SEPA transfers, PayPal, Visa, Mastercard, and bank wires, whereas FXOpen, although offering the convenience of Skrill along with Visa, Mastercard, and bank wires, does not support ACH, SEPA transfers, or 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 | FXOpen | |
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| Trust Score | 99 | 76 | |
| Winner | check_circle | ||
| Review | City Index Review |
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| Regulation | City Index | FXOpen | |
|---|---|---|---|
| Trust Score | 99 | 76 | |
| Year Founded | 1983 | 2003 | |
| 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 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | City Index | FXOpen | |
|---|---|---|---|
| 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 | Yes | |
| 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 | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 87 | |
| Forex Pairs (Total) | 66 | 25 | |
| 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). |
| Cost | City Index | FXOpen | |
|---|---|---|---|
| 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 | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | FXOpen | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $100 | |
| 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 | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | Yes |
| Trading Tools | City Index | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | City Index | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
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| Trust Score | 99 | 76 | |
| Winner | check_circle | ||
| Review | City Index Review |
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