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City Index vs FXCM

City Index or FXCM – which is better for UK traders 2024? Compare City Index and FXCM in this detailed breakdown of their platforms, features and fees.

City Index vs FXCM Comparison Table 2024
City Index	FXCM

4.4	3.5
City Index is ranked #11 among CFD brokers.	FXCM is ranked #44 among CFD brokers.
Review	Review
City Index is an established and award-winning forex, CFD and spread betting broker with top-tier global regulation, including in the UK (FCA) and Australia (ASIC). With 30+ years in the industry, 13,500+ instruments and 24/5 customer support, City Index is a solid pick for aspiring traders.	FXCM is a respected forex and CFD broker, established since 1999. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia. With zero commissions, over 400 assets, and a range of analysis tools, FXCM remains a popular choice for traders. The broker is also regulated by top-tier authorities including the FCA and ASIC.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Pros
Thousands of instruments including thematic indices and interest rates that are not available at many alternatives Industry-leading platforms including MT4, plus access to cutting-edge third-party tools like TradingView Excellent reputation with over 1 million account holders and tier-one regulatory oversight Tight spreads from 0.5 pips on EUR/USD and competitive commissions on CFD shares A free demo account with unrestricted access to all markets and trading tools Extended hours trading on 70+ popular shares including Amazon and Tesla No minimum deposit to get started	Alongside the 4 charting platforms, FXCM also offers a market-leading range of specialist software for experienced investors, including QuantConnect, AgenaTrader and Sierra Chart The proprietary Trading Station terminal is a good choice for traders looking for an all-in-one solution for their short-term and automated trading strategies Traders can utilize several top-tier trading tools including a market scanner, forex signals and third-party research site, eFXPlus FXCM’s global reputation is impressive, with licenses from the FCA, ASIC, CySEC and FSCA and a 20-year business history A range of funding methods are available including bank cards, Apply Pay and PayPal, with instant processing times The broker offers spread discounts and other excellent perks for experienced traders in the Active Trader account FXCM has expanded its range of trading opportunities with 24-hour stock CFDs through MetaTrader 4
Cons
Cryptocurrency trading not available in all locations No Islamic account for Muslim traders $15 monthly inactivity fee US traders not accepted	Although FXCM continues to gear their services towards experienced traders, it’s a shame that there are no managed accounts on offer There is no choice of retail accounts for traders, nor any Cent/Micro account options The live chat support can be slow and unreliable compared to the top competitors
FCA Regulated
Yes	Yes
Instruments
CFDs, Forex, Stocks, Options, Commodities, Bonds	CFDs, Forex, Stocks, Commodities
Demo Account
Yes	Yes
Minimum Deposit
$0	$50
Payment Methods
Credit Cards Debit Card Mastercard PayNow PayPal Visa Wire Transfer	Apple Pay Credit Cards Debit Card Google Pay Klarna PayPal Wire Transfer
Minimum Trade
0.01 Lots	Variable
Regulator
ASIC, FCA, MAS	FCA, CySEC, ASIC
Mobile Apps
Yes	iOS and Android
iOS App Rating
3.8
Android App Rating
2.8
Margin Trading
No	Yes
Margin Rate
2.5%
MetaTrader 4
Yes	Yes
MetaTrader 5
No	No
cTrader
No	No
AlgoTrader
No	No
OmniTrader
No	No
TradingView
Yes	Yes
Autochartist
No	No
eSignal
No	Yes
Trading Central
Yes	No
STP Account
Yes	No
ECN Account
No	No
DMA Account
Yes	No
MAM Account
No	Yes
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	No
Negative Balance Protection
Yes	Yes
Market Maker
No	Yes
P2P Trading
No	No
Spot Trading
Yes	No
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No	Yes
Copy Trading Platform
	FXCM offers social and copy trading on forex, CFDs and cryptos through the hugely popular ZuluTrade platform. The sign-up process is quick and you can track your performance in real-time.
Social Trading
No	Yes
Trade Signals
Smart Signals
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	Yes
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
Yes	No
Inactivity Fee
£12
Islamic Account
No	No
Account Currencies
USD EUR GBP AUD CZK	USD EUR GBP CAD AUD ZAR CHF
Commodities
Gold Oil Silver Copper Livestock Platinum Natural Gas Soybeans Nickel Iron Orange Juice Cannabis	Gold Oil Silver Cannabis
CFD
Trade 5,000+ CFDs from a single account with no hidden fees and free live market data. The suite of markets is impressive vs alternatives, including access to shares, indices, commodities and bonds.	You can trade a range of CFD instruments across forex, shares, indices and commodities. There’s an excellent selection of platforms for traders, including TradingView and MT4, plus additional tools for experienced algo traders including API solutions.
Leverage
1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.	1:30
FTSE Spread
1 pt	1.18 pts var*
GBPUSD Spread<
0.8 pips	0.5 pips*
Oil Spread
0.4	0.05 (var)*
Stocks Spread
Variable	0.2% Var*
Forex
Trade a wide selection of 80+ currency pairs with spreads from 0.5 pips and industry-favorite platforms. City Index has 40+ years experience in forex trading with liquidity from tier-one banks.	FXCM offers an average range of 40+ currency pairs, although there are no commissions and spreads are competitive from 0.78 pips for EUR/USD. The broker also offers 3 forex baskets covering USD, Yen and emerging markets benchmarks.
Assets
84	40
GBPUSD Spread
0.8	0.5 pips var*
EURUSD Spread
0.5	0.2 pips var*
EURGBP Spread
0.8	0.5 pips var*
Currency Indices
USD	JPY

City Index	FXCM
Review	Review
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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