This City Index vs Fusion Markets’s forex broker comparison found each has over 80 forex pairs with the MetaTrader 4 trading platforms. Fusion Markets has low commission costs while City Index has a guaranteed stop loss
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Fusion Markets is an Australian forex broker founded in 2017, it is known for its tight spreads with low commissions, City Index is one of the oldest forex brokers having been founded in 1983, and they are a market maker who doesn’t charge commissions.
We compare Fusion vs City Index to help you choose between them and find your next broker.
Trading fees come in two types; commission fees, and the spread cost. The costs that you will face depend on the trading account type you choose to use, so to compare brokerage fees, we analyse both the standard and ‘raw’ account types offered by Fusion Markets and City Index.
On a standard account, you have zero commission, but you have to pay an artificially increased spread cost. This represents the difference between the buy and sell price for what you are trading.
Fusion Markets only has one no commission account, the Classic Account. City Index however has two types of accounts with no commission. The Standard Account is for traders using one of the City Index Trading Platforms and the MT4 accounts for traders using the MetaTrader 4 trading platform.
Below, you can see the average standard account spreads of different brokers.
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Standard Account Spreads
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|---|---|---|---|---|---|
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0.93 | 0.92 | 0.98 | 1.08 | 1.02 |
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0.70 | 2.20 | 1.10 | 1.10 | 0.60 |
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1.13 | 1.01 | 1.71 | 1.66 | 1.12 |
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1.20 | 0.90 | 1.50 | 1.80 | 1.80 |
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1.20 | 1.40 | 1.50 | 1.60 | 1.50 |
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1.10 | 1.20 | 1.40 | 1.50 | 1.20 |
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1.10 | 1.30 | 1.30 | 1.30 | 1.30 |
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1.20 | 1.80 | 1.90 | 1.90 | 1.60 |
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1.32 | 1.95 | 1.37 | 1.70 | 1.40 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
View Fusion Markets ReviewVisit Fusion Markets
From the spread module, you will notice that while the two brokers have similar spreads for the EUR/USD and AUD/USD, Fusion Markets has much tighter spreads across the board.
The minimum spread you can get on Fusion Markets is 0.8 pips on the popular pairs, and from the module, you can see that the average spread for the EUR/USDis very low.
In comparison, City Index has slightly wider average spreads. Even though the minimum spread is advertised at 0.5 pips, you can expect spreads to be around the averages denoted in the table above.
As you can see, some of their spreads are fairly wide, for example, average spreads on the EUR/JPY are at 2.3 pips, more than double the average spread on Fusion Markets
Fusion Markets do not have a minimum deposit to open an account, City Index requires £100 for clients in the UK and $150 for clients in Australia and Singapore.
Looking at the average standard account spreads for Fusion Markets, City Index, and the industry average, we can see some interesting differences.
Fusion Markets consistently offers lower spreads across all forex pairs compared to City Index. For instance, the EUR/USD pair has a spread of 0.7 for Fusion Markets, while City Index has a spread of 0.9. This trend continues across all pairs, with Fusion Markets always having a lower spread.
| Forex Pair | Fusion Markets | City Index | Industry Average |
|---|---|---|---|
| EUR/USD | 0.7 | 0.9 | 1.0 |
| USD/JPY | 0.8 | 1.0 | 1.1 |
| GBP/USD | 0.9 | 1.1 | 1.2 |
| AUD/USD | 0.7 | 0.9 | 1.0 |
| USD/CAD | 0.8 | 1.0 | 1.1 |
| USD/CHF | 0.9 | 1.1 | 1.2 |
| NZD/USD | 0.7 | 0.9 | 1.0 |
Standard Account Analysis Updated September 2023[1]September 2023 Published And Tested Data
However, when we compare these two brokers to the industry average, we see that both are offering competitive rates. The industry average spread for EUR/USD is 1.0, which is higher than both Fusion Markets and City Index. This pattern is consistent across all forex pairs.
In conclusion, if we’re purely looking at the standard account spreads, Fusion Markets seems to be the cheaper option. However, it’s important to remember that spreads are just one aspect of the overall cost of trading. Other factors such as commission fees, account types, and trading environment should also be considered when choosing a forex broker.
Here’s the bar chart representing the average standard account spread by forex pair for the forex brokers Fusion Markets, City Index, and the Industry Average:
Meanwhile, STP-style or ‘Raw’ accounts have market-priced spreads, however, brokers will charge commission fees on trades as a brokerage fee.
Fusion Markets is an outstanding choice when it comes to an STP style no dealing desk trading account. Not only are the spreads very low with the Zero Account, the commission costs are also extremely low.
Commission fees on Fusion Markets are extremely low compared to other top brokers. You only need to pay $4.50 AUD or USD round-turn per standard lot, with the commission in other base currencies similarly low.
City Index does not offer a commission-style account in the UK and Australia however Singapore residents have the option of a DMA account. Commission with this account is tiered, meaning the more you trade, the less you will pay in commission costs. As a rule, Fusion Markets have fewer commission costs unless you are a professional trader who trades over 100 million a month.
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ECN Broker Spreads
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|---|---|---|---|---|---|
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0.03 | 0.11 | 0.02 | 0.19 | 0.05 |
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0.47 | 0.50 | 0.12 | 0.40 | 0.22 |
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0.20 | 0.30 | 0.20 | 0.40 | 0.20 |
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0.30 | N/A | 0.30 | 0.50 | 0.40 |
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0.24 | N/A | 0.17 | 0.54 | 0.30 |
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0.30 | 0.70 | 0.20 | 0.50 | 0.40 |
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0.30 | 1.10 | 0.10 | 0.60 | 0.50 |
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0.77 | 1.41 | 0.44 | 1.13 | 1.23 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
City Index ReviewVisit City Index
*Your capital is at risk ‘71% of retail CFD accounts lose money’
As you can see from the table above, Fusion has extremely low spreads on their ZERO account. With a minimum spread of 0 pips wide and the average spread on major pairs so tight, you can be sure you’re getting a great deal when trading with Fusion.
At Fusion Markets, you have no minimum deposit requirement for both of their account types. You also won’t have to pay anything at all to deposit and withdraw funds. The broker however does recommend a minimum deposit of $1500 to cover your margin requirements when you open a trade.
To deposit funds, payment methods you can use range from bank transfers, Visa/Mastercard for both credit and debit cards, plus an extremely wide set of e-Wallets like Paypal or Neteller. You can even fund your Fusion Markets CFD trading account with cryptos like Bitcoin or Ethereum.
City Index does have a minimum deposit, set at $150 in Australia and Singapore and £100 in the UK. However, they recommend that you deposit $2,000 for forex trading, $2,500 for stock trading, and $2,500 for other markets. As for funding methods, you can still pay with a bank transfer, Visa/Mastercard credit cards and PayPal. Although you cannot deposit with other e-Wallets or with crypto, you can fund your account with BPay or PayID in Australia.
While very close, we find that on average, Fusion Markets will have lower trading fees. With consistently low spreads on both their accounts and very low commissions, on average, you can expect to pay less when trading with Fusion compared to City Index.
View Fusion Markets ReviewVisit Fusion Markets
Regulation helps make sure you will be as safe as possible when trading.
We found that Fusion Markets is regulated by one top-tier regulator and one second-tier regulator. These are:
City Index is slightly more regulated, holding four top-tier regulatory licences. The licences are with:
It is interesting to note that, unlike Fusion Markets which has an offshore regulator (VFSC) for clients outside Australia, City Index does not use any offshore regulators. So if you are a resident outside Australia, the UK, or Singapore, you will sign with the City Index Singapore Subsidiary and policies will be in line with those required with MAS.
While having many regulatory licences is great, what truly matters is that the broker is regulated in the country you are trading from. Therefore, we recommend the UK, and Singaporean traders use City Index for maximum protection. Australian and global traders will be safely protected with both brokers.
City Index ReviewVisit City Index
*Your capital is at risk ‘71% of retail CFD accounts lose money’
Fusion Markets and City Index both have two platforms for you to trade with.
Both MetaTrader 4 and MetaTrader 5 are available with Fusion Markets. These are the two most popular forex trading platforms in the world, with over 75% of all forex traders in Q4 of 2021 being executed through either MT4 or MT5. The simple and consistent user experience when trading with the MetaTrader platforms has elevated it to the best in the world, and you will have no problems on either platform.
While City Index only offers MetaTrader 4, they also have their own proprietary platform, the City Index WebTrader and Mobile App (Android/iOS). Their proprietary platform makes it much more convenient for you to trade while on-the-go, as you can instantly execute trades on your phone at any time.
If you do use the City Index platform, you will be able to protect your trades with a guaranteed stop loss.
City Index ReviewVisit City Index
*Your capital is at risk ‘71% of retail CFD accounts lose money’
Fusion Markets’ two tools are focused on giving you access to social trading. Myfxbook and DupliTrade give you access to the copy-trading community and allows you to copy all the trades of professionals or highly successful traders.
City Index also has some useful tools – these include Smart Signals, Trading Central features like Market Buzz, TradingView charting, custom alerts and Playmaker for performance analytics.
Our winner for both platforms and trading tools is Fusion Markets. With both MetaTrader platforms available and the ability to copy-trade, Fusion simply outmatches what City Index brings to the table.
CFD products include forex/currency pairs, equity indices, cryptocurrencies, and even shares and ETFs. Fusion Markets and City Index each have a comprehensive range of trading products for you to choose from.
Fusion Markets offers over 90 different forex pairs for you to trade. If you are classified as a retail trader, you will be able to trade these pairs at 30:1 leverage in Australia, and 500:1 if you are outside Australia or a professional trader. With so many pairs to choose from, you can be more than sure that the pairs you want to trade are available, whether that be a popular pair like the EUR/USD or GBP/USD, to minor or exotic pairs like the CHF/JPY.
Meanwhile, City Index has 84 pairs for you to choose between. In Australia, the UK and the UAE, retail traders are capped at 30:1 leverage, and Singaporean traders at 20:1. Options trading is also available for over 40 markets and if you are in Singapore or Australia you can trade knockout options. Lastly, Spread betting is available for all products for UK traders.
Strictly speaking, as options are not a CFD product, our winner in this category is Fusion Markets thanks to their extraordinarily wide range of forex pairs. However, if you are looking to trade options, City Index is a great option.
Fusion Markets ReviewVisit Fusion Markets
*Your capital is at risk ‘71% of retail CFD accounts lose money’
We measure broker popularity by checking how many visits they get to their website on a monthly basis, using similarweb statistics.
In June 2022, Fusion Markets received 235 thousand visits. Over the same time period, City Index only got 157 thousand visits to their website.
As a result, the more popular broker with their users is Fusion Markets.
Our overall winner is Fusion Markets. With incredibly low-cost trading accounts, a strong range of trading platforms and tools plus over 90 forex pairs, they are our winner in Fusion Markets vs City Index.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
