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 |
When comparing City Index and FXCM, both brokers offer competitive pricing on various financial instruments, though City Index generally aligns more closely with industry averages. City Index provides traders with an average spread of 0.74 pips on the EUR/USD, catering to both newcomers and seasoned traders through their proprietary platforms or MetaTrader. Their Premium Trader account benefits active traders who deposit over £10,000, offering exclusive perks and services. Additionally, professional traders based in the U.K. can enjoy rebates starting at £4 per million for trading volumes over £25 million monthly, with rates climbing for higher volumes. City Index receives a commendable 4.5-star rating and ranks #14 out of 63 brokers for commissions and fees.
FXCM, on the other hand, presents slightly higher average spreads for forex when compared to the industry norm. Their standard account spreads have averaged 0.78 pips on the EUR/USD across select regions, slightly higher than City Index, with their St. Vincent and the Grenadines entity averaging even higher at 1.38 pips. However, discounts for active traders can lower effective spreads significantly depending on the client's trading volume and location. The Active Trader Rebate Program spans five tiers, granting rebates up to $25 per million traded for high-volume participants. FXCM is rated 4 stars and holds the #25 position in the Commissions and Fees category among 63 brokers.
While both brokers are competitive in the realm of forex trading costs, City Index holds a slight edge regarding overall fee structure, especially for active traders enjoying rebates and discounts. Meanwhile, FXCM presents beneficial opportunities for high-volume traders in regions where their Active Trader Rebate Program is available, with deeper discounts achievable based on monthly trade volumes. Both brokers have robust offerings, fulfilling diverse trader needs and preferences with varying commission structures and benefits.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Minimum Deposit | £100.00 | Starts from $50 |
| Average Spread EUR/USD - Standard | 1.4 | 0.78 |
| All-in Cost EUR/USD - Active | 0.74 | 0.78 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing City Index and FXCM for their range of investments, City Index clearly stands out with an impressive offering. City Index provides access to 13,500 tradeable symbols, significantly more than FXCM's 440, giving traders a diverse portfolio to explore. Both platforms offer forex trading as CFDs or spot contracts, but City Index leads with 66 tradeable forex pairs compared to FXCM's 46. Additionally, while neither broker allows clients to buy exchange traded securities directly on U.S. or international exchanges, such as shares of Apple or Vodafone, they both enable trading of cryptocurrency derivatives, though not the cryptocurrencies themselves.
For those interested in copy trading, both City Index and FXCM offer this feature, allowing users to follow and replicate successful trading strategies. Despite these similar offerings, City Index is rated higher in the range of investments category, boasting a 5-star rating compared to FXCM's 3.5 stars. In rankings by ForexBrokers.com, City Index is positioned at #8 out of 63 brokers, while FXCM is further down the list at #47. This highlights City Index's superior investment options, catering more effectively to traders seeking a wider variety of opportunities.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 440 |
| Forex Pairs (Total) | 66 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
When comparing the trading platforms and tools between City Index and FXCM, both brokers offer an immersive experience with a range of features suitable for both beginners and experienced traders. Each provides access to a free virtual demo account, allowing users to refine their skills without financial risk. They also both pride themselves on proprietary trading platforms, which means they've developed their own software tailored to their clients' needs. For those preferring a more traditional setup, both City Index and FXCM offer Windows-based desktop platforms, as well as convenient web-based options that can be accessed directly through a browser. Fans of automated trading will appreciate the inclusion of copy trading on both platforms, although only FXCM supports ZuluTrade, which adds an extra layer of social trading functionality.
City Index and FXCM both support the widely used MetaTrader 4 (MT4), but not MetaTrader 5 (MT5) or DupliTrade. When it comes to charting tools, City Index edges out FXCM with 239 drawing tools compared to FXCM's 10, albeit both allow trading directly from a stock chart which is a handy feature for seamless execution. In terms of watch lists, FXCM offers slightly more customization with 13 columns compared to City Index’s 11. Despite these impressive offerings, FXCM gleams with a full 5-star rating for its trading platforms and tools, slightly outshining City Index's commendable 4.5-star rating. Additionally, FXCM is ranked 6th out of 63 brokers as opposed to City Index's 11th place in ForexBrokers.com's categories, reflecting a slightly superior standing in the trading community.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| 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 |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 115 |
| Charting - Drawing Tools (Total) | 239 | 10 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 13 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both City Index and FXCM offer mobile trading apps for iPhone and Android users, making it easy to trade on the go. These apps include useful features like stock and forex price alerts, watchlist symbol syncing, and the ability to create watchlists with real-time quotes. Both platforms also allow users to draw trendlines and view multiple time frames on charts. These handy features enable traders to stay updated and make informed decisions from anywhere.
When it comes to technical studies available for charting, City Index provides 88 options while FXCM offers 59. Both apps auto-save drawings, ensuring that your work isn't lost and making it easier to continue analyzing moving markets. In terms of user ratings, both platforms receive 4.5 stars. However, City Index holds a higher rank at #9 in the Mobile Trading Apps category by ForexBrokers.com, compared to FXCM's #16. This suggests that while both are excellent choices, City Index might offer a slightly more attractive package for mobile traders.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 88 | 59 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | 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 | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
City Index and FXCM both offer extensive educational resources for traders, making them suitable choices for beginners looking to learn about forex and CFDs. Each broker offers a collection of at least 10 educational articles, videos, and archived webinars focused on these topics. Furthermore, both brokers frequently host online educational client webinars, providing at least one session per month. Alongside their live sessions, City Index and FXCM maintain searchable archives for those who prefer to learn at their own pace.
When it comes to video content, beginners will find that City Index and FXCM both provide a minimum of 10 beginner-level educational videos, along with an equal number of advanced videos for more experienced traders. Additionally, for those new to investing, each broker offers an investor dictionary with definitions of over 50 investing terms. In the overall education category, both brokers received a solid 4.5-star rating. However, in rankings by ForexBrokers.com, City Index edges out FXCM with a higher placement at #9 compared to FXCM's #14. This might be a consideration for those looking for the best educational support in their trading journey.
| Feature |
City Index
|
FXCM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| 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 |
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 #15.
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
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 95 |
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Both City Index and FXCM do not offer the ability to buy actual delivered cryptocurrency, instead providing options to trade cryptocurrency derivatives.
Both City Index and FXCM provide multiple options for depositing and withdrawing funds including ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires, although only FXCM additionally supports Skrill.
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 |
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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 (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | FXCM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 440 | |
| Forex Pairs (Total) | 66 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | 1.4 | 0.78 | |
| All-in Cost EUR/USD - Active | 0.74 | 0.78 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| 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 | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | 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 | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | City Index | FXCM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 13 | |
| Charting - Indicators / Studies (Total) | 88 | 115 | |
| Charting - Drawing Tools (Total) | 239 | 10 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 88 | 59 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | FXCM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | FXCM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| 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 |
| Major Forex Pairs | 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 | |
| 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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