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City Index vs FXCM 2020

Is City Index better than FXCM? After testing 30 of the best forex brokers over five months, City Index is better than FXCM. Beyond its extensive range of products, multi-asset traders confidently choose City Index for competitive spreads, great platform options, premium research tools, and reliable customer service, all under the backing of GAIN Capital, which is one of the largest retail brokers globally.

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.

Overall Rating

Feature City Index FXCM
Overall 4.5 4.5
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
Year Founded
1983 1999
Publicly Traded (Listed)
Yes Yes
Bank
No No
Tier-1 Licenses
3 3
Tier-2 Licenses
0 2
Tier-3 Licenses
1 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature City Index FXCM
ASIC Authorised (Australia)
Yes Yes
IIROC Authorised (Canada)
No Yes
SFC Authorised (Hong Kong)
No No
FSA Authorised (Japan)
No No
MAS Authorised (Singapore)
Yes No
FINMA Authorised (Switzerland)
No No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
No No

Investments

Feature City Index FXCM
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
84 39
CFDs - Total Offered
4500 32
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 5 3.5
Winner check_circle

Cost

Feature City Index FXCM
Average Spread EUR/USD - Standard
0.8 (Oct 19) 1.3 (as of Q2 19)
All-in Cost EUR/USD - Active
0.8 (Oct 19) 0.7 (as of Q2 19)
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4 4
Winner check_circle

Funding

Feature City Index FXCM
Minimum Initial Deposit
£50.00 £300
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
Yes No
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

Feature City Index FXCM
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 No
cTrader
No No

Trading Tools

Feature City Index FXCM
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
18 12
Charting - Indicators / Studies (Total)
139 57
Charting - Drawing Tools (Total)
25 18
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4 4.5
Winner check_circle

Mobile Trading

Feature City Index FXCM
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes No
Watch List
Yes Yes
Watch List Syncing
Yes Yes
Charting - Indicators / Studies
74 60
Charting - Draw Trend Lines
Yes Yes
Charting - Trend Lines Moveable
No Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
No Yes
Forex Calendar
Yes Yes
Mobile Trading 4 4
Winner check_circle

Research

Feature City Index FXCM
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
No Yes
AutoChartist
Yes Yes
Trading Central (Recognia)
Yes Yes
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes
Research 4.5 4.5
Winner check_circle

Education

Feature City Index FXCM
Has Education - Forex
Yes Yes
Has Education - CFDs
Yes No
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
Education 4 4
Winner check_circle

Major Forex Pairs

Feature City Index FXCM
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

Overall

Feature City Index FXCM
City Index Review FXCM Review
Overall 4.5 4.5
Winner check_circle
After spending several months and hundreds of hours researching 30 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 3,180 data points. For this review, we will compare City Index vs FXCM.

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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