To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare City Index vs FXCM.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. Both City Index and FXCM are rated 4.00 stars.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. City Index alongside FXCM are regulated in a major hub. City Index alongside FXCM are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. City Index boasts an offering of 84 different currency pairs compared to FXCM's 39 available pairs.
To round out our comparison of City Index vs FXCM, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. City Index alongside FXCM offer Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. City Index trails FXCM by 6 total charting tools, with FXCM offering 31 and City Index offering 25. City Index boasts an offering of 139 different indicators (for example, moving averages) compared to FXCM's 51 available indicators.
Overall, both City Index and FXCM share a rating of 4.50 stars. And, when it comes to individual category awards, FXCM finished with awards Best in Class - Platforms & Tools, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018, while City Index came up with none of these.