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 are both rated 4.5 out of 5 stars for commissions and fees, but City Index has a slight edge in the rankings, placing #16 out of 36 brokers compared with FXCM at #17. In plain terms, both brokers offer pricing that is close to the market average, but City Index comes across as a little better for overall value, especially if you trade on its own platform or MetaTrader.
At City Index, typical CFD and forex pricing is in line with the industry average, with EUR/USD spreads averaging 0.74 pips in July 2023. Active traders may also qualify for discounts, and Premium Trader clients who deposit more than £10,000 can unlock special pricing and support. FXCM’s forex pricing is a bit higher overall, with EUR/USD spreads averaging 0.78 pips for its EU, U.K., and Australia entities in May 2024, while its commission-based accounts averaged 0.28 pips before commissions. FXCM also offers active trader rebates, but these are not available in the U.K. or EU.
For traders comparing costs, City Index is generally the simpler pick for average pricing and rebates, while FXCM can be competitive if you trade enough to qualify for its discount tiers. Still, both brokers are best suited to active traders who want to keep an eye on spreads, commissions, and volume-based savings.
| 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.
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When it comes to range of investments, City Index offers a wider selection than FXCM. Both brokers support forex trading as CFDs or spot contracts, but City Index lists 13,500 tradeable symbols and 66 forex pairs, compared with FXCM’s 440 symbols and 46 forex pairs. Neither broker lets clients buy actual shares on U.S. or international exchanges, and neither offers direct purchase of delivered cryptocurrency. However, both do offer copy trading and cryptocurrency CFDs, giving traders access to these markets without owning the underlying asset.
For investors looking for more choice, City Index stands out overall. It earns a 5-star rating for range of investments and is ranked #8 out of 36 brokers by ForexBrokers.com, while FXCM holds a 4.5-star rating and ranks #21. In short, both brokers cover the basics well, but City Index provides a much broader product range for traders who want more market options.
| 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 give traders a strong set of platform choices, including a free demo account for practice, a proprietary platform, web-based trading, Windows desktop downloads, MT4, copy trading, and the ability to place trades directly from charts. Neither broker offers MetaTrader 5, so if MT5 is a must-have, neither one will meet that need. For everyday traders, this means both brokers cover the main platform basics well, whether you prefer trading in a browser, on desktop, or through a familiar third-party platform like MT4.
When it comes to independent ratings, FXCM has the edge in trading platforms and tools, earning 5 out of 5 stars and ranking #4 out of 36 brokers at ForexBrokers.com, while City Index scores 4.5 out of 5 stars and ranks #11. In simple terms, both brokers offer a good mix of tools, but FXCM is rated a bit higher overall for this category.
| 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 give mobile traders the tools they need on the go. Each broker offers iPhone and Android apps, price alerts, watchlist syncing with the web account, trendline drawing, and automatic saving of chart drawings. Both mobile apps are also rated 4.5 out of 5 stars, so in day-to-day use they are closely matched for basic convenience and ease of access.
The biggest difference is in charting depth. City Index offers 88 technical studies in its mobile app, while FXCM provides 59, giving City Index the edge for traders who want more chart tools on a phone or tablet. That extra choice helps explain why City Index ranks higher for mobile trading apps overall, coming in at #9 out of 36 brokers, compared with FXCM at #16.
| 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.
City Index and FXCM both offer strong market research features for everyday traders. Each provides daily market commentary, forex news from top names like Bloomberg and Reuters, Trading Central tools, sentiment data showing long and short positions, and an economic calendar for tracking key global events. Neither broker includes Autochartist or Acuity Trading tools, but FXCM does add TipRanks research while City Index does not.
Overall, the two brokers are very close in this area. City Index is rated 4.5 out of 5 for Research and ranks #10 out of 36 brokers at ForexBrokers.com, while FXCM also scores 4.5 out of 5 and ranks #11. For most traders, the difference comes down to the extra TipRanks coverage at FXCM versus the slightly higher ranking for City Index.
| 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 give beginners a strong set of learning tools, with each broker offering forex and CFD education, monthly online webinars, and at least 10 beginner-friendly videos plus 10 more for advanced traders. In other words, new traders can find plenty of material at either firm to learn the basics and then move on to more detailed topics as their skills grow.
Where they differ is in overall education standing. City Index is rated 4.5 out of 5 for Education and ranks #9 out of 36 brokers at ForexBrokers.com, while FXCM also scores 4.5 out of 5 but ranks #13. For beginners, that suggests both are solid choices, though City Index has a slight edge in the broader education ranking.
| 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 |
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FXCM
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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 |
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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 CMA 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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