City Index vs FP Markets 2026: Which Broker is Better?

Regulation & Safety

City Index, founded in 1983 and headquartered in London, is regulated by some of the most reputable financial authorities: the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). These regulatory bodies ensure that City Index adheres to strict financial standards, providing a high level of safety for client funds and operations. As part of the StoneX Group, a NASDAQ-listed company, City Index offers additional assurance of financial stability and transparency.

FP Markets, established in 2005 and based in Sydney, Australia, is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). While ASIC is renowned for its stringent regulatory framework, CySEC provides a robust level of oversight within the European Union. FP Markets also offers client fund protection through segregated accounts, though it lacks the same level of global reach in regulatory terms as City Index.

Fees & Spreads

City Index offers competitive spreads starting from 0.5 pips with zero commissions on trades, making it an attractive choice for cost-conscious traders. The absence of a minimum deposit requirement further lowers the barrier to entry for new traders. However, traders should be aware of potential inactivity fees that may apply if the account remains dormant for a specified period.

FP Markets provides spreads starting from 0.0 pips on its Raw account, but this comes with a commission of $3 per side per lot traded. The minimum deposit for FP Markets is $100, which is relatively low compared to industry standards, making it accessible for beginner traders. The maximum leverage offered by FP Markets is 1:500, which is significantly higher than City Index's 1:200, offering more flexibility but also higher risk, especially for inexperienced traders.

Trading Platforms

City Index offers a range of trading platforms, including its proprietary Web and Mobile platforms, alongside the widely-used MetaTrader 4 (MT4). These platforms are well-suited for traders seeking a user-friendly interface with strong research tools, although they may not be as modern as some newer competitors. FP Markets, on the other hand, supports the MetaTrader suite (MT4 and MT5), TradingView, and its own Proprietary Mobile platform, appealing to traders who value advanced charting capabilities and a broader selection of trading tools.

Who Should Choose City Index?

• Traders seeking a broker with a long-standing reputation (40+ years).
• Investors who value strong research tools, particularly from Refinitiv.
• Clients looking for a broker under multiple top-tier regulations (FCA, ASIC, MAS).
• Traders interested in a wide range of markets—over 13,500 available.

Who Should Choose FP Markets?

• Traders looking for the lowest possible spreads starting from 0.0 pips.
• Users interested in using TradingView for advanced charting.
• Clients requiring higher leverage options up to 1:500.
• Investors prioritising a low minimum deposit requirement ($100).

Our Verdict

City Index is the superior choice for beginners due to its strong regulatory oversight and zero commission structure. Professionals may prefer FP Markets for its competitive spreads and advanced trading platforms. In terms of fees, FP Markets offers the advantage with lower spreads available on its Raw account.