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City Index vs FXCM 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is City Index better than FXCM? In our analysis of 23 international regulators across 39 of the best forex brokers, City Index is considered low-risk, with an overall Trust Score of 99 out of 99. FXCM is considered low-risk, with an overall Trust Score of 96 out of 99. Learn more about Trust Score.

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Overall RatingCity IndexFXCMIG
Overall Rating5 Stars4.5 Stars5 Stars
Commissions & Fees4.5 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools4.5 Stars5 Stars5 Stars
Mobile Trading5 Stars4 Stars5 Stars
Research4.5 Stars4.5 Stars5 Stars
Education4.5 Stars4 Stars5 Stars
Trust Score999699
Winnercheck_circle
ReviewCity Index ReviewFXCM ReviewIG Review
RegulationCity IndexFXCMIG
Trust Score999699
Year Founded198319991974
Publicly Traded (Listed)YesYesYes
BankNoNoYes
Tier-1 Licenses337
Tier-2 Licenses232
Tier-3 Licenses101
Authorised in European UnionYesYesYes
About RegulationA “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A “Yes” for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)City IndexFXCMIG
ASIC Authorised (Australia)YesYesYes
IIROC Authorised (Canada)YesYesNo
SFC Authorised (Hong Kong)NoNoNo
CBI Authorised (Ireland)NoNoNo
FSA Authorised (Japan)NoNoYes
MAS Authorised (Singapore)YesNoYes
FINMA Authorised (Switzerland)NoNoYes
FCA Authorised (U.K.)YesYesYes
CFTC Registered (USA)NoNoYes
FMA Authorised (New Zealand)NoNoYes
Tier-2 Licenses (Average Trust)City IndexFXCMIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)YesYesNo
SEBI Authorised (India)NoNoNo
ISA Authorised (Israel)NoYesNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoYesYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)YesNoYes
Tier-3 Licenses (Low Trust)City IndexFXCMIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)YesNoNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)NoNoNo
FSC Authorised (Mauritius)NoNoNo
VFSC Authorised (Vanuatu)NoNoNo
InvestmentsCity IndexFXCMIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)1350044119537
Forex Pairs (Total)8444100
U.S. Stock Trading (Non CFD)NoYesYes
Int'l Stock Trading (Non CFD)NoYesYes
Social Trading / Copy TradingYesYesYes
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
DisclaimersNote: 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).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).
CostCity IndexFXCMIG
Average Spread EUR/USD - Standard1.0 (July 2022)1.38 (Q2 2022)0.86 (September 2022)
All-in Cost EUR/USD - Active1.0 (July 2022)1.38 (Q2 2022)0.5957 (September 2022)
Active Trader or VIP DiscountsYesYesYes
Execution: Agency BrokerNoYesYes
Execution: Market MakerYesYesYes
FundingCity IndexFXCMIG
Minimum Initial Deposit£100.00Starts from $50£250.00
PayPal (Deposit/Withdraw)YesNoYes
Skrill (Deposit/Withdraw)NoYesNo
Visa/Mastercard (Credit/Debit)YesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformsCity IndexFXCMIG
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
Social Trading / Copy TradingYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)NoNoNo
cTraderNoNoNo
DupliTradeNoNoNo
ZuluTradeNoYesNo
Trading ToolsCity IndexFXCMIG
Virtual Trading (Demo)YesYesYes
Alerts - Basic FieldsYesYesYes
Watchlists - Total Fields111214
Charting - Indicators / Studies (Total)885733
Charting - Drawing Tools (Total)812620
Charting - Trade From ChartYesYesYes
Charts can be savedYesYesYes
Mobile TradingCity IndexFXCMIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesYesYes
Mobile WatchlistYesYesYes
Watchlist SyncingYesYesYes
Mobile Charting - Indicators / Studies885933
Mobile Charting - Draw TrendlinesYesYesYes
Mobile Charting - Multiple Time FramesYesYesYes
Mobile Charting - Drawings AutosaveYesYesYes
Forex CalendarYesYesYes
ResearchCity IndexFXCMIG
Daily Market CommentaryYesYesYes
Forex News (Top-Tier Sources)YesYesYes
AutochartistNoYesYes
Trading Central (Recognia)YesYesNo
Social Sentiment - Currency PairsYesYesYes
Economic CalendarYesYesYes
EducationCity IndexFXCMIG
Has Education - Forex or CFDsYesYesYes
Client WebinarsYesYesYes
Client Webinars (Archived)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Videos - Advanced Trading VideosYesYesYes
Investor Dictionary (Glossary)YesYesYes
Major Forex PairsCity IndexFXCMIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
ReviewCity Index ReviewFXCM ReviewIG Review
OverallCity IndexFXCMIG
Overall Rating5 Stars4.5 Stars5 Stars
Commissions & Fees4.5 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools4.5 Stars5 Stars5 Stars
Mobile Trading5 Stars4 Stars5 Stars
Research4.5 Stars4.5 Stars5 Stars
Education4.5 Stars4 Stars5 Stars
Trust Score999699
Winnercheck_circle
ReviewCity Index ReviewFXCM ReviewIG Review
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City Index vs FXCM Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare City Index vs FXCM.

Does City Index or FXCM offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, IG offers better pricing overall for traders.

Is City Index or FXCM safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Both City Index and FXCM hold 3 global Tier-1 licenses. FXCM holds 3 global Tier-2 licenses, while City Index holds 2. In our analysis of 23 international regulators across 50 brokers, City Index earned a higher Trust Score than FXCM.

Which trading platform is better: City Index or FXCM?

To compare the trading platforms of both City Index and FXCM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both City Index and FXCM offer MetaTrader 4 (MT4).City Index and FXCM both offer copy trading.

How many forex pairs and CFDs are available to trade?

City Index provides traders 84 currency pairs (e.g., EUR/USD) compared to FXCM's 44 available pairs. Forex pairs aside, City Index offers traders access to 13500 CFDs while FXCM has 441 available CFDs, a difference of 13059.

Can I trust City Index?

City Index is publicly traded, does not operate a bank, and is authorised by four tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust). City Index is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), and the Financial Conduct Authority (FCA).

Can I trust FXCM?

FXCM's parent company is publicly-traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), three tier-2 regulators (average trust), and zero tier-3 regulators (low trust). FXCM is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and via Friedberg Direct, with the Investment Industry Regulatory Organization of Canada (IIROC).

Is City Index good?

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.

Is FXCM good?

For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.

Overall winner: IG

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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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