City Index Review: Expert Live Test & Opinion

One example of how they are populating their platform with new trader tools is SMART Signals. Whilst voice brokerage still forms part of City Index’s offering, they are, as with everyone else, doing the majority of their business online and working hard to make their platform stand out. Take advantage of lightning-fast execution, award-winning platforms and superior support. There may be a number of reasons why your withdrawal process has been delayed. Our client management team will be able to help you sort out any issues you may be facing. Considering there FCA regulated there absolute rubbish customer service is non existent..

It is geared for advanced traders who can utilize the potential behind AT Pro’s 130+ indicators and 25 drawing tools, as well as other advanced functions. The City Index demo account has a virtual balance of £2,500 and gives users access to all of the platform’s features. The MetaTrader 4 demo account starts with a £10,000 virtual balance and gives users access to the forex market.

Platforms

Trade the global markets on our browser-based trading platform – ADVFN’s ‘Best platform for the active trader 2021’. The more experienced traders who meet certain criteria can apply for the “Professional Trader” account. To qualify as a professional trader, you would need to have made a significant amount of transactions over the past year, have a large portfolio and work experience within the financial sector.

These regulating bodies are the Financial Conduct Authority , the Australian Securities and Investments Commission , and the Monetary Authority of Singapore . City Index is also regulated to trade in the United Arab Emirates under their FCA license. Here are some frequently asked questions that traders and to-be traders often ask about City Index. In 2014, Michael Spencer, the founder and controlling shareholder of City Index, sold the company for $118 million.

The various different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. City Index provide deposit and withdrawals via wire transfer, credit/debit card and PayPal. You can manage your account easily through their secure funding portal.

Minimum Initial Deposit

The “Premium Trader” account is an invitation only private retail account that comes with a priority service. It also has competitive pricing, negative balance protection with the added benefits of a relationship manager, invitations to premium events and dedicated broker assisted dealing. City Index do not charge any additional commissions on spread betting markets. They also do not charge commissions on CFD or FX markets, with the exception of CFD equities. The City Index economic calendar is fully customisable and can help to show the possible impact of key news releases to help plan your trading strategies around. I am always checking the latest market news to help me with my trade decisions.

• These catch-all benchmark fees include spreads, commissions and financing costs for all brokers.
• The broker is highly regulated by some of the secure top-tier regulators and is one of the largest brokers for international trading.
• There are even regular webinars during which the platform’s experts analyze the markets, identify trends, create functional strategies and help you improve your trading skills.
• Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.
• Past performance is no indication or guarantee of future performance.

Both Android and Apple device users are catered for with separate Android and iOS applications. While the mobile app and responsive trader are not inclusive of all desktop features, most are available and built-in. City Index doesn’t have specific criteria to qualify new traders but aims to ensure some competence and understanding due to the risks involved. The company does not charge commissions on spread betting or on any CFDs other than Stock CFDs. City Index offers CFD trading on 17 major indices from Asia, Europe, the US, and Australia, including Singapore Index, Wall Street, and Germany 30.

Other City Index Markets

Not only are the spreads low and highly competitive with other brokers, they also have a wealth of experience and a good reputation. Offering an intuitive experience for both desktop and mobile via a choice of platforms, you can enjoy trading on an extensive selection of major, minor and exotic or emerging assets. With so much information to consider when selecting a broker to open an account with, making the decision can be a time-consuming process. That is why our team of experienced traders and analysts have done the hard work for you offering our view of what this broker has to offer.

City Index offers day traders a competitive trading environment with price improvement technology and deep liquidity. City Index ensures traders have access to a high-quality trading environment developed with cutting-edge tools to generate a competitive edge. The primary regulator of Gain Capital UK, the owner of City Index, is the Financial Conduct Authority .

The site provides superior research and analysis of prevailing market conditions and offers an overview of competitively-priced trading markets. When you open a trading account, you get the benefit of the GAIN connection as well. It is a potent combination where you get the advantage of GAIN’s standing and trust in the market and the four decades of Capital Index experience.

Based on our research, City Index is a respected and reliable broker and is a part of the large strong established group listed in stock. The broker is considered one of the Best UK brokers with a large instrument range, low spreads, and a professional education section. City Index is a good choice for both beginners and advanced traders. Large, established, and well-regulated – City Index is not dissimilar to their market maker peers, CMC Markets and Plus500. Tight spreads , great platform choice, and excellent educational and market analysis materials help City Index stand out in the crowd. We would like to see one or two more account options, but overall City Index is a good choice if you are looking for a large, well-regulated, and established market maker.

The city index review will ask you about your employment status, about your financial situation (like your income and savings/investments), and about your planned initial deposit. After ticking the boxes asking if you are interested in either spread betting or CFD trading, move onto entering your address details. Have been using the broker for a while but it has not been until i begun to trade a lot more and learn more about forex and brokers that i have begun to notice some very strange things. First of all before i continue i have found out that this broker is a Market Maker and after reading their terms and conditions more carefully this can be seen clearly. To bad i never knew about this earlier but i would recommend anyone to read the T/C’s in detail. Recently, they have deleted my last dollars from my account for inactivity without the courtesy of sending a cheque to my home.

City Index Review 2023 – The Leading Provider of CFD & Forex Trading

The City Index app is available for both iOS and Android devices. The app itself is very well optimised, allowing you to trade on your mobile device without having to worry about the loss of performance. What’s great is that both the Web Trader and MT4 are available in their mobile versions, although you will need to download them separately. It has several annoying features that did disrupt my trading experience. Once done with that, I’ll share my personal experience using the City Index platform and answer several frequently asked questions about the platform.

Most of these awards were won in the UK which is due to the company’s focus on its local audience. Although they are an international brokerage, a larger part of City Index’s client base is UK-based, so it’s no wonder why they make efforts to cater to the British trader. City Index is a well-known, trusted brokerage that’s good at just about everything.

To help their customers stay informed, City Index provides them with real-time financial data, news, and market reports from Reuters. Additionally, you will gain access to The City Index Economic Calendar which offers at-a-glance information on major market moving events affecting the UK, US, Australia, Japan, Germany and France. The platform also mentions 6 practices its traders should consider adopting to improve their trading success. By reducing the size of his positions, a trader can use wider stop losses, reducing the likelihood of a stop loss being hit by market noise.

• This is to prevent negative balances and should not be regarded as a stop loss.
• You can look at upcoming events in chronological order and click on them to see a summary and check historical data.
• Our customer support team is always on hand to help with any queries.
• The team of analysts at City Index provides daily analysis integrated into the flagship platform of City Index.
• All information contained herein should be independently verified and confirmed.

It is also possible to choose a convenient model for work here, which many other https://traderoom.info/ do not offer. In general, the platform looks reliable and focused primarily on convenience. The minimum initial deposit for your account at city index forex traders is 100 Great Britain pounds. This ensures you have enough capital to cover up the margins for your first trade and shield you against losses. Minimum stakes and bets go for 50p per point while minimum trade for CFDs is one CFD unit.

ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. Other websites of this company include cityindex.com, cityindex.eu, cityindex.com.au, and cityindexasia.com.sg.

In October 2012, City Index launched City Index Trading Academy – an online TV series and competition aimed to demonstrate that with education and support, anyone can learn to trade the global markets. GTX – The GTX electronic communications network is owned by GAIN Capital designed to offer a pool of FX liquidity from both anonymous and disclosed liquidity providers to institutional traders. Finspreads – Finspreads is a leader in interactive online spread betting starting in 1999 before it was acquired by the Group in 2005. City Index Group relaunched its updated Finspreads brand in January 2013. As of 24 March 2018 all Finspreads accounts ceased operating and were migrated to become part of City Index.