City Index vs FBS 2026: Which Broker is Better?

Regulation & Safety

City Index, established in 1983 and headquartered in London, is regulated by several reputable authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). This extensive regulatory oversight ensures that City Index operates under stringent guidelines, offering a high level of safety and investor protection. As a part of the StoneX Group, a NASDAQ-listed company, City Index also benefits from additional corporate governance and transparency.

FBS, founded in 2009 with its headquarters in Limassol, Cyprus, is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the Financial Sector Conduct Authority (FSCA) in South Africa. While these regulatory bodies provide a good level of oversight, FBS is not available in major markets like the EU, UK, or the US, which could be a limitation for some traders. However, FBS's regulation by multiple authorities still ensures a reasonable degree of trust and safety.

Fees & Spreads

City Index offers competitive spreads starting from 0.5 pips with no commissions, making it a cost-effective option for traders. The lack of a minimum deposit requirement further enhances its accessibility for new traders. City Index, however, does apply an inactivity fee, which might be a downside for less active traders. The maximum leverage offered is 1:200, providing a balanced approach to risk management.

FBS provides spreads starting from 0 pips, particularly on their ECN accounts, though standard accounts have wider spreads which could increase trading costs for frequent traders. Commissions are also waived, and the minimum deposit is as low as $1, making it highly accessible for beginners. FBS offers maximum leverage of up to 1:3000, which, while attractive to some, can pose significant risks, particularly for inexperienced traders. The broker's bonus and cashback programmes can be appealing, but they come with conditions that might limit withdrawals.

Trading Platforms

City Index offers a range of trading platforms, including its proprietary web and mobile platforms, as well as the popular MetaTrader 4 (MT4). The proprietary platforms are robust, though they might not have the modern feel of some newer interfaces. In contrast, FBS provides access to both MT4 and MetaTrader 5 (MT5), as well as a proprietary mobile app. The availability of MT5 gives FBS an edge for traders seeking advanced tools and features not present in MT4.

Who Should Choose City Index?

• Traders seeking regulation by top-tier authorities like the FCA.
• Investors interested in extensive market research and analysis tools.
• Those who prefer not having a minimum deposit requirement.
• Experienced traders comfortable with CFD trading.

Who Should Choose FBS?

• Beginner traders looking for low entry barriers with a $1 minimum deposit.
• Traders interested in high leverage options up to 1:3000.
• Investors looking for a broker with a strong presence in Asia, Africa, and Latin America.
• Those who benefit from bonus and cashback incentives.

Our Verdict

City Index is the winner for beginners due to its regulation and no minimum deposit requirement. For professional traders, FBS offers more advanced leverage options. On fees, City Index edges out with tighter spreads, although FBS offers zero-pip spreads on select accounts.