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City Index vs FXCM 2020
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall Rating
| Feature | City Index | FXCM |
| Overall | ||
| City Index Review | FXCM Review | |
| 71% of retail CFD accounts lose money | 69.66% of retail CFD accounts lose money |
Regulation
| Feature | City Index | FXCM |
| Trust Score | 93 | 92 |
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Year Founded |
1983 | 1999 |
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Publicly Traded (Listed) |
Yes | Yes |
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Bank |
No | No |
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Tier-1 Licenses |
3 | 3 |
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Tier-2 Licenses |
0 | 2 |
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Tier-3 Licenses |
1 | 0 |
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Authorised in the European Union |
Yes | Yes |
Tier-1 Licenses
| Feature | City Index | FXCM |
|
ASIC Authorised (Australia) |
Yes | Yes |
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IIROC Authorised (Canada) |
No | Yes |
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SFC Authorised (Hong Kong) |
No | No |
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FSA Authorised (Japan) |
No | No |
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MAS Authorised (Singapore) |
Yes | No |
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FINMA Authorised (Switzerland) |
No | No |
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FCA Authorised (UK) |
Yes | Yes |
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CFTC Registered (USA) |
No | No |
Investments
| Feature | City Index | FXCM |
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Forex: Spot Trading |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | Yes |
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Currency Pairs (Total Forex pairs) |
84 | 39 |
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CFDs - Total Offered |
4500 | 32 |
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Cryptocurrency traded as actual |
No | No |
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Cryptocurrency traded as CFD |
Yes | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Cost
| Feature | City Index | FXCM |
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Average Spread EUR/USD - Standard |
0.8 (Oct 19) | 1.3 (as of Q2 19) |
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All-in Cost EUR/USD - Active |
0.8 (Oct 19) | 0.7 (as of Q2 19) |
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Active Trader or VIP Discounts |
Yes | Yes |
| Commissions & Fees | ||
| Winner | check_circle |
Funding
| Feature | City Index | FXCM |
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Minimum Initial Deposit |
£50.00 | £300 |
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Bank Wire (Deposit/Withdraw) |
Yes | Yes |
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Visa/Mastercard (Credit/Debit) |
Yes | Yes |
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PayPal (Deposit/Withdraw) |
Yes | No |
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Skrill (Deposit/Withdraw) |
No | Yes |
Trading Platforms
| Feature | City Index | FXCM |
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Proprietary Platform |
Yes | Yes |
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Desktop Platform (Windows) |
Yes | Yes |
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Web Platform |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | Yes |
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MetaTrader 4 (MT4) |
Yes | Yes |
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MetaTrader 5 (MT5) |
No | No |
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cTrader |
No | No |
Trading Tools
| Feature | City Index | FXCM |
|
Virtual Trading (Demo) |
Yes | Yes |
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Alerts - Basic Fields |
Yes | Yes |
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Watchlists - Total Fields |
18 | 12 |
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Charting - Indicators / Studies (Total) |
139 | 57 |
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Charting - Drawing Tools (Total) |
25 | 18 |
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Charting - Trade From Chart |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes |
| Platform & Tools | ||
| Winner | check_circle |
Mobile Trading
| Feature | City Index | FXCM |
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Android App |
Yes | Yes |
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Apple iOS App |
Yes | Yes |
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Trading - Forex |
Yes | Yes |
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Trading - CFDs |
Yes | Yes |
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Alerts - Basic Fields |
Yes | No |
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Watch List |
Yes | Yes |
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Watch List Syncing |
Yes | Yes |
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Charting - Indicators / Studies |
74 | 60 |
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Charting - Draw Trend Lines |
Yes | Yes |
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Charting - Trend Lines Moveable |
No | Yes |
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Charting - Multiple Time Frames |
Yes | Yes |
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Charting - Drawings Autosave |
No | Yes |
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Forex Calendar |
Yes | Yes |
| Mobile Trading | ||
| Winner | check_circle |
Research
| Feature | City Index | FXCM |
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Daily Market Commentary |
Yes | Yes |
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Forex News (Top-Tier Sources) |
Yes | Yes |
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Weekly Webinars |
No | Yes |
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AutoChartist |
Yes | Yes |
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Trading Central (Recognia) |
Yes | Yes |
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Delkos Research |
No | No |
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Social Sentiment - Currency Pairs |
Yes | Yes |
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Economic Calendar |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Education
| Feature | City Index | FXCM |
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Has Education - Forex |
Yes | Yes |
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Has Education - CFDs |
Yes | No |
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Client Webinars |
Yes | Yes |
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Client Webinars (Archived) |
Yes | Yes |
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Videos - Beginner Trading Videos |
Yes | Yes |
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Videos - Advanced Trading Videos |
Yes | Yes |
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Investor Dictionary (Glossary) |
Yes | Yes |
| Education | ||
| Winner | check_circle |
Major Forex Pairs
| Feature | City Index | FXCM |
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GBP/USD |
Yes | Yes |
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USD/JPY |
Yes | Yes |
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EUR/USD |
Yes | Yes |
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USD/CHF |
Yes | Yes |
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USD/CAD |
Yes | Yes |
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NZD/USD |
Yes | Yes |
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AUD/USD |
Yes | Yes |
Overall
| Feature | City Index | FXCM |
| City Index Review | FXCM Review | |
| Overall | ||
| Winner | check_circle |
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Both City Index and FXCM share a rating of 4.00 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. City Index and FXCM both are regulated in a major hub. City Index and FXCM are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. City Index offers its clients access to 84 different currency pairs while FXCM has 39 available pairs, a difference of 45.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. City Index alongside FXCM offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. FXCM offers its clients access to 31 charting tools while City Index has 25 charting tools, a difference of 6. City Index offers its clients access to 139 different indicators (for example, volume) while FXCM has 51 available indicators, a difference of 88.
City Index Review
FXCM Review
Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
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