FBS vs City Index - Fees Review included
Which broker is better FBS or City Index? Our expert assessment conducted according to TU’s own methodology showed that FBS is one of the top brokers in the financial market with the TU Overall Score of 8.98 out of 10. City Index is one of the top brokers in the financial market with the TU Overall Score of 4.66 out of 10. Find out more about TU Overall Score.
| Feature | FBS | City Index |
|---|---|---|
Overall |
4.3 |
3.9 |
4.6 |
4.5 |
|
3.9 |
4.7 |
|
4.1 |
4.2 |
|
Investment Instruments |
4.7 |
1 |
Platforms and Charting Tools |
4.5 |
3.7 |
Deposit and Withdrawal |
4.2 |
4.0 |
Research |
3.9 |
4.0 |
Education |
4.2 |
4.5 |
Support |
3.9 |
4.5 |
Bonuses |
5 |
3.8 |
|
|
FBS vs City Index: Pros and Cons
FBS (fbs.com) is an international broker operating in 190 countries. The brokerage company has been on the market for over 10 years, and during this time it has earned about 40 international awards. It is regulated by the CySEC under license number 331/17 and provides flexible conditions for Forex trading. FBS is especially popular in Asian countries such as India, Malaysia and Indonesia.
The City Index broker was founded in 1983 in London. This company allows its clients to engage in active trading and place bets on the spread. City Index is licensed and regulated by the UK’s FSA — UK Financial Services Authority (license number 113942). The broker has received tremendous awards numerous times, including "Best Loyalty Trading Program" (2019), "Best Trading Platform" (2019), and "Best CFD Provider" (2020) while providing financial services
| FBS | City Index | |
|---|---|---|
| Overall Pros | A large selection of trading instruments | a vast array of trading instruments |
| Copyt trading platform | both floating and fixed spreads are available to users | |
| $140 no-deposit bonus (not available for EU clients) | MetaTrader 4 terminal is provided for trading, as well as a web terminal and mobile applications | |
| Crypto account | ||
| Overall Cons | Hihg trading fees | the trading platform periodically malfunctions |
| Slow exacution speed | shortage of deposit/withdrawal methods | |
| a broker can reject an application regarding opening a trading account if the user does not have enough trading experience or his starting capital is not sufficient for trading |
FBS vs City Index: Safety and Regulation
| Regulated By: | FBS | City Index |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
Belize IFSC, license IFSC/000102/310, South Africa - FSCA |
No |
FBS vs City Index: Trading Conditions
| Trading Conditions | FBS | City Index |
|---|---|---|
Minimum Deposit |
$1 |
$100 |
Trading Platforms |
MetaTrader 4, MetaTrader 5, FBS Trader |
MT4 |
Max Leverage (Futures) |
401769 |
1-100 |
Supported Markets |
Forex, CFDs on stocks, indices, metals, energies, crypto |
Forex, CFDs on stocks, indices, commodities, metals, cryptocurrencies |
Trading assets |
200+ |
300+ |
Trading Accounts |
Standard, Cent, ECN, Micro, Zero Spread, Copy Trade |
Real, demo |
Base Account Currencies |
EUR, USD |
USD, EUR, GBP |
FBS vs City Index: Fees
Forex Trading Fees
| Fee | FBS | City Index |
|---|---|---|
Standard Account EURUSD Average Spread |
0.8 pips |
0.5 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$6 per lot |
Not supported |
ECN Account EUR Average Spread |
0.2 pips |
Not supported |
CFD Trading Fees
| Fee | FBS | City Index |
|---|---|---|
CFD Trading Fee |
US Shares - 0.7%, other markets - folating spread above the average |
Floating spread |
Non-Trading Fees
| Fee | FBS | City Index |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
1$ Visa, Neteller 2%, min - 1$, max - 30$ fee, Skrill - 1% + 0.32$, PerfectMoney - 0.5% |
No |
Inactivity Fee |
No |
$15 per month after 24 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FBS vs City Index: Trading Assets
| Asset Name | FBS | City Index |
|---|---|---|
Overall |
200+ |
300+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
FBS or City Index: Investment Programs
| Asset Name | FBS | City Index |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: City Index or FBS
| FBS | City Index | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
FBSTrader |
No |
Others |
No |
No |
|
|
FBS vs City Index: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FBS | City Index |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
No |
No |
FBS vs City Index: Research
| Research Type | FBS | City Index |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
FBS vs City Index: Education
| Education Type | FBS | City Index |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
City Index vs FBS: Support
| Support Features | FBS | City Index |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
FB Messenger |
No |
FBS vs City Index: Forex Bonuses and Promo
| Promo | FBS | City Index |
|---|---|---|
Forex Bonus |
$140 no deposit bonus, up to 100% deposit bonus (Bonuses are not available for EU and UK clients) |
No |
Affiliate Program |
For each invited client, a trader can receive from $150 to $650 |
|
Other Promos |
By activating the option in the personal account, a trader can receive a cashback of up to $15 per lot |
No |
|
|
Top 5 Reviews on City Index
-
Comment
There is no promised fast fulfillment. Rather, it disappeared after a day of successful trading. Now the execution takes from 3000 to 5000 ms, and the connection has nothing to do with it. Technical support says nonsense intelligible. This practice is used in all kitchens of this type.
-
Comment
These are scammers! Not only is the money withdrawn for a very long time and there are always only replies, but the money also disappears from the account. Apparently, things are really bad in City Index and in this way they are trying to earn money. Do not mess with this broker!
-
Comment
Broker City Index chose in the first place because it is one of the oldest companies that operate in the financial markets. In addition, it is accredited by the FCA, which, unlike some offshore firms, not only collects money for issuing a license, but also exercises strict supervision over the activities of controlled companies. I started trading on the usual Metatrader 4, as I was sure that the author's platforms were not suitable for conducting a full-fledged technical analysis. But for the sake of interest on a demo account, I tried to open a couple of deals on At Pro from City Index specialists. Now I work only on this terminal. Simple interface, many tools. Free trading signals are very helpful.
-
Comment
Look before you leap, but having leapt never look back. It's the same with City Index: there's nothing to do here for beginners. The more assets and settings on trading platforms, the more likely you are to get confused and lose everything. The experienced folks here have something to play with. It is good for gaining experience with different markets, but it is still controversial for constant trading. Let's see how the broker will show itself with the withdrawal of funds.
-
Comment
I'm quite happy with the conditions in the City Index. All the tools are there, there were no questions with the replenishment and withdrawal yet, which is important. I also did not observe any sudden price changes. But there’s a problem with the payment systems... I want more of them. I want updates also - maybe for investment programs, for example. It always gets annoying if the broker doesn’t try to be a better version of itself. I hope that City Index is not the type, but just in case I don’t keep all of my assets here.
Top 5 Reviews on FBS
-
Comment
Verifying an account on FBS is fast and easy if you have the recommended documents. This includes a government passport or ID issued the authorities. Make sure you upload both the front and back side of it then enter your accurate date of birth used on your official documents. Mine took time because my documents seem a bit old and some parts are no longer clear. I have to get another document to complete the verification. I would have saved myself the stress and trying over again with the verification process if i tried the first time with the updated documents that has an identifiable images of me.
-
Comment
FBS leverage is one of the features traders with low deposits can use to open larger positions but it is important to use them with caution. I needed to understand how leverage works and a demo account is ideal for this to avoid losing my funds. The FBS demo account is a useful tool which i am using to learn how to trade with leverages which is what i really want to fully understand how to use before trade again in my real account. Opening a demo account on FBS is a straightforward process just that you must sign up on the platform to access the personal area where you can get the options to open a demo account starting with an initial balance of $20000. Leverage is up to 1:3000. Guy, my parctical advise. Please, don’t exceed leverage of more than 1 to 10/ Yes, you will need a higher minimum deposit, but trading with higher leverage is crazy.
-
Comment
Opening an account on FBS is simple. The first step required me to enter my details but I have the option to sign up using my Gmail address. The next step demanded I select a trading platform, account currency and leverage, when I completed the process I realized I had a standard account opened for me. From the personal area I went ahead to open a demo account which was what I needed at the moment to practice. Opening a demo account is quite easy, from the personal area, you can click on add account, select the trading platform, account currency and initial balance. You can download the trading platform app or trade with FBS mt4 webtrader terminal. The web trader terminal interface is friendly and features simple trad
-
Comment
I like this company. I almost doubled my deposit in six months. This is a very good result for me. But the most important thing is that FBS withdraws money without any problems. That is, the company fulfills all agreements with a client. Therefore, I believe that FBS can be trusted.
-
Comment
For me, FBS was one of the first brokers I started trading with; earlier, they used to advertise more online. They had contests, and I even won one of them. Overall, I traded with FBS for a couple of years, and everything suited me. They had a separate blog with analytics, where there were some good materials. Now, many things are no longer available, although the broker continues to operate in the Forex market.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.