FP Markets vs City Index

FP Markets publishes a Raw MT4/MT5 pricing model with forex and metals commissions shown at US$3 per side, while its Standard account keeps costs inside the spread. The broker also says spreads can start from 0.0 pips, but that is an advertised minimum, not a typical live cost. City Index’s public pricing pages show variable and fixed spreads, and in one official market table EUR/USD is listed at a minimum spread of 0.5 pips and a typical spread of 0.8 pips. City Index also states it does not charge commission on CFD or FX markets except CFD equities. For inactivity, City Index publicly lists a fee of $15 after 24 months of no activity on some entities, while FP Markets’ inactivity policy varies by entity and legal document, with a Saint Lucia client agreement showing a US$10 monthly fee. Terms differ by jurisdiction, so the exact bill depends on the account entity.

City Index’s UK terms page states that StoneX Financial Ltd is authorised and regulated by the Financial Conduct Authority, with FCA register number 446717. FP Markets’ public record shows CySEC entry evidence on the regulator register and official pages that reference ASIC coverage, plus additional entity documents that point to jurisdiction-specific onboarding. That means both brands have current official regulatory evidence, but neither should be read as a single global legal structure. FP Markets is more multi-entity by design, so the exact protection package and availability can change with the entity you open. City Index is easier to anchor in the UK, but it also operates regionally, so local terms still matter. For a cautious retail trader, the key question is not only whether a brand is regulated, but which entity is actually contracting with you.

FP Markets publishes fee pages, account-type pages, legal documents, and platform explanations in a way that makes it relatively easy to verify basic trading conditions before opening an account. City Index also provides detailed cost pages, spread tables, and support articles, with visible examples for forex, indices, commodities, and metals. City Index is more explicit about how it calculates minimum and average spreads on variable-pricing markets, while FP Markets is more expansive in platform and account documentation. Neither broker is opaque, but both still require entity checks because the public terms are not identical everywhere. For readers comparing information quality rather than marketing claims, both are workable. FP Markets has the edge on breadth of account and platform disclosure; City Index has the edge on readable pricing tables for some markets.