Written by ForexBrokers.com
In this head to head comparison of City Index vs FXCM, 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, established in 1983, and FXCM, founded in 1999, are both reputable online brokers with a strong presence in the financial market. As publicly traded companies, both have demonstrated their commitment to transparency and regulation. City Index boasts an impressive ForexBrokers.com Trust Score of 99 out of 99, reflecting its exemplary standing as a highly trusted broker. This is supported by its possession of seven Tier-1 licenses and one Tier-2 license, indicating its strong regulatory compliance.
FXCM, though slightly younger, also holds its ground with a solid ForexBrokers.com Trust Score of 95 out of 99, marking it as a highly trusted broker. FXCM holds four Tier-1 licenses and two Tier-2 licenses, further emphasizing its commitment to maintaining regulatory standards. While neither City Index nor FXCM is a bank, both brokers have cemented their reputations as reliable choices for traders by adhering to stringent regulatory expectations, making them trusted names in the world of online trading.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Year Founded | 1983 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 7 | 4 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
City Index and FXCM both earn 4.5 out of 5 stars for commissions and fees. City Index ranks #16 out of 63 in this category at ForexBrokers.com, with FXCM right behind at #17. City Index’s pricing generally tracks the industry average, while FXCM’s standard pricing is slightly higher than average. In day-to-day terms, typical euro/dollar (EUR/USD) costs can look similar at about three-quarters of a pip when you include commissions on FXCM’s commission-based plan.
City Index posts an average EUR/USD spread of 0.74 pips (July 2023) on its CFD account, which is in line with the industry average—though not as low as leaders like Tickmill and FP Markets. You’ll usually find the best pricing on City Index’s own platforms or MetaTrader. High-volume clients depositing over £10,000 may qualify for the Premium Trader account for exclusive pricing and service. Volume-based rebates are available for professionals: in the U.K., £4 per million from £25M+ monthly volume up to £7.5 per million above £300M; in Australia, tiers range from AUD $4.5 to AUD $14.5 per million.
At FXCM, May 2024 data show average EUR/USD spreads of 0.78 pips on standard accounts in the EU, U.K., and Australia, and 1.38 pips via its St. Vincent and the Grenadines entity. Commission-based accounts show low core spreads around 0.28 pips, but the effective cost is closer to 0.74 pips after adding commissions. FXCM’s five-tier Active Trader Rebate Program (not available in the U.K. or EU) pays $5–$25 per million if you trade at least $10M per month; in the U.K., separate active-trader requirements can reduce commissions to $2.5 per side with a $25,000 balance and $50M in monthly volume. As with many brokers, spreads can widen during rollover or periods of unusual market conditions.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Minimum Deposit | £100.00 | Starts from $50 |
| Average spread (EUR/USD) - Standard account | 1.4 | 0.9 |
| All-in Cost EUR/USD - Active | 0.9 | 0.8 |
| Non-wire bank transfer | Yes | Yes |
| 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 offers a far larger range of investments than FXCM, with 13,500 tradeable symbols compared to FXCM’s 440. City Index also lists 66 forex pairs versus FXCM’s 46. Both brokers let you trade forex as CFDs or spot contracts, support copy trading, and provide access to cryptocurrency via CFDs. Neither broker lets you buy actual cryptocurrencies or purchase exchange-traded shares directly on U.S. or international stock exchanges.
For Range of Investments, City Index earns 5 stars and ranks #8 out of 63 brokers on ForexBrokers.com, while FXCM scores 4.5 stars and ranks #21. If you want the widest choice of markets and currency pairs, City Index has the edge. If your focus is forex with the option for copy trading and crypto CFDs, both City Index and FXCM can work well.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 440 |
| Forex Pairs (Total) | 66 | 46 |
| 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 FXCM both check the key boxes for traders comparing platforms and tools. Each offers a free demo (paper) account, an in-house proprietary platform, Windows desktop software, and a web-based platform. You can use MetaTrader 4 (MT4) with both brokers, though neither supports MetaTrader 5 (MT5). Copy trading is available at both, and you can place trades directly from charts. For charting and watchlists, each broker provides a broad set of built-in indicators and customizable lists, with exact counts varying by platform.
In independent testing, FXCM edges ahead for platform quality and features: it earns 5 out of 5 stars and ranks #4 out of 63 brokers at ForexBrokers.com for Trading Platforms and Tools. City Index is close behind with 4.5 out of 5 stars and a #11 ranking. If you want the highest-rated toolset, FXCM is the pick; if you value MT4 access, a free demo, and flexible web/desktop trading, both City Index and FXCM deliver a strong experience.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| 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 | No |
| Charting - Indicators / Studies (Total) | 88 | 115 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and FXCM both offer mobile trading apps for iPhone and Android. Each app supports price alerts for stocks and forex, synced watchlists between mobile and your online account, and easy charting tools—you can draw trendlines and your drawings auto-save for future sessions.
The main difference is chart study depth: City Index includes 88 technical indicators, while FXCM offers 59. Both earned 4.5 out of 5 stars for mobile trading apps, but City Index holds a higher placement (#9 of 63) than FXCM (#16 of 63) on ForexBrokers.com. If you want more built-in indicators, City Index has the edge; if you just need alerts, syncing, and core charting on iPhone or Android, either app is a solid choice.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 59 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both City Index and FXCM are popular online brokers that deliver strong market research offerings for traders seeking detailed insights into financial markets. Both brokers provide daily market commentary and access to forex news from reputable sources like Bloomberg, Reuters, and Dow Jones. While neither City Index nor FXCM offers research tools from Autochartist, both include expert analysis offerings from Trading Central to aid users in technical analytics.
An important distinction arises with FXCM offering market research from TipRanks, unlike City Index, which does not provide this service. Conversely, neither broker provides research tools from Acuity Trading. For sentiment-based trading tools and comprehensive economic calendars, traders can rely on either platform. Both brokers are rated 4.5 out of 5 stars for research quality, with City Index holding a slightly higher ranking (#10) compared to FXCM (#11) according to ForexBrokers.com.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
City Index and FXCM both deliver forex and CFD education that clears the “at least 10 pieces” bar, giving beginners plenty to learn from across articles, videos, and archived webinars. Each broker runs ongoing client webinars (at least monthly) and offers 10+ beginner-focused videos that explain trading basics in plain language, making it easier to get started and build confidence.
When you’re ready to go deeper, both brokers also provide 10+ advanced videos for experienced traders. Education quality is highly rated for each at 4.5 out of 5 stars. In ForexBrokers.com’s Education rankings, City Index places slightly higher at #9 out of 63 brokers, while FXCM comes in at #13—so City Index gets the edge on placement, but both are strong choices for learners.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| 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 FXCM. City Index finished with an overall rank of #8, while FXCM finished with an overall rank of #10.
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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FXCM
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|---|---|---|
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| Trust Score | 99 | 95 |
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Comparing online brokers City Index vs FXCM: neither supports buying actual (delivered) cryptocurrencies, but both offer cryptocurrency CFDs for trading.
Comparing online brokers City Index vs. FXCM: both support ACH/SEPA, PayPal, and bank wire deposits/withdrawals, FXCM additionally offers Skrill while City Index does not, and Visa/Mastercard availability for both is not specified.
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 | FXCM | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | City Index Review | FXCM Review |
| Broker Screenshots | City Index | FXCM | |
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| Regulation | City Index | FXCM | |
|---|---|---|---|
| Trust Score | 99 | 95 | |
| Year Founded | 1983 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 4 | |
| Tier-2 Licenses | 1 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | City Index | FXCM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| 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 | FXCM | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | Yes | |
| 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 | FXCM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 440 | |
| Forex Pairs (Total) | 66 | 46 | |
| 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 | FXCM | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.4 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.8 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | City Index | FXCM | |
|---|---|---|---|
| Minimum Deposit | £100.00 | Starts from $50 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | City Index | FXCM | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | No |
| Trading Tools | City Index | FXCM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 88 | 115 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | FXCM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 88 | 59 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | City Index | FXCM | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | Yes | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | FXCM | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | City Index | FXCM | |
|---|---|---|---|
| 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 | FXCM Review |
| Overall | City Index | FXCM | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | City Index Review | FXCM Review |
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