City Index Review

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City Index Review

Park House, 16 Finsbury Circus, London, EC2M 7EB, UKFounded: 1983Minimum Deposit $150Maximum Leverage 400Regulators ASIC, FCA, MAS

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RATING3.9

FCA UK regulated with publicly traded parent company Gain Capital.

  • Fast and easy account opening
  • There aren’t any fees to withdraw or deposit funds.
  • Over 12,000 trading instruments with a range of asset classes.
  • The index CFDs have low fees, as do forex CFDs
  • A feature-rich, internet-based proprietary trading platform with a wealth of features.
  • A wide range of educational or research equipment.
  • Platforms HTML5 WebTrader, the AT Pro desktop, MetaTrader 4

Points Summary

CampusPark House, 16 Finsbury Circus, London, EC2M 7EB, United Kingdom
It was discovered in1983
RegulatorsASIC, FCA, MAS
PlatformsHTML5 Web Trader Platform, AT Pro Desktop, MT4
InstrumentsCurrency, Commodities, Indices, Stocks, Bonds, Cryptocurrencies, Futures
CostsThe fees are low for stock indexes as well as forex CFDs. However the Stock CFD charges are very high.
Demo accountAvailable
Minimum deposit$150
Maximum leverage1:400
Operations CommissionExcept for CFDs on stocks Our CFDs are commission-free.
Optional withdrawal and deposit optionsCredit/debit card, EFT, BPAY PayID, PayPal
EducationYour sections on education and analysis are excellent.
Customer Support24/5

Introduction

City Index was established in the UK in 1983. The City Index has been licensed by and monitored by the top financial authorities, such as the Financial Conduct Authority (FCA) as well as or the Australian Securities and Investments Commission (ASIC) or the Monetary Authority of Singapore (MAS ).

City Index’s parent firm City Index is StoneX Group Inc (NASDAQ SNEX) which is one of the largest commercial and retail business services and has a proven history of providing business solutions to institutional and retail customers.

City Index is a global service provider with Spread Betting, FX and CFD Trading based in the central area of London.

They have more than thirty-five years experience, and they are regarded by traders to provide fast and efficient execution.

With more than 12,000 markets available to pick from Forex, Indices, Stocks and Commodities Customers are able to access a vast variety of markets across the globe. Spread Betting accounts offer commission-free trading as well as CFD accounts allow commission-free trading for all asset classes , with the exception of shares. Spreads can be either fixed or variable.

City Index also has a range of platforms that include the robust ATPro platform designed for experienced traders as well as MT4. The broker also provides additional trading tools in the shape of a fundamental and technical analysis portal as well as trading signals that are available on AT Pro. AT Pro trading platform.

Beginners and experienced traders can benefit from City Index’s Online Trading Academy courses and videos to use and deep study and research that covers every asset class through videos and articles. City Index helps traders grow by providing them with the tools they require to develop their trading skills.

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Awards

 

Through the many years, City Index has been recognized and awarded by international awarding bodies with prestigious prizes, as listed below.


Award for Stock

Since 2001 since 2001, since 2001, the Shares Awards have acknowledged the quality of services and products from firms in the world of retail investments as voted by readers.


  • Best spread betting provider 2019

  • Best Professional Trading Platform 2019

ADVFN International Financial Awards

ADVFN is the most renowned site for private investors, providing charting, prices and tools for major markets around the world.


  • Top CFD Broker 2020

  • The Best Platform for Active Traders 2020

  • Top CFD provider 2019

Professional Trader Awards

The Professional Trader Awards celebrate leveraged brokers that offer “exclusive” trade accounts for professionals across 14 categories.


  • Best Margin Margin on Trading Accounts Rates for 2019

  • The most effective commercial loyalty program for 2019

Does City Index safe or a fraud?

City Index is authorized and is regulated under the supervision of City Index is regulated and authorized by the UK Financial Conduct Authority under the name Gain Capital UK Limited with registration number 113942 as confirmed in the FCA report below:

 

GAIN Capital Australia Pty Ltd is licensed by ASIC under license numbers: ACN 141774727, AFSL 345646.GAIN Capital Singapore Pte.Ltd. licensed through the Monetary Authority of Singapore (MAS) with a company registration number 200400922K.

The broker also provides investor security by keeping the client’s funds in separate accounts, as well as being a an integral part of the Financial Services Compensation Scheme (FSCS) as outlined below:

How can you be protected?

City Index operates several subsidiaries and, based on your location the any of them can be able to assist you. How much protection for investors you will receive depends on the location of the subsidiary in which you have registered.

If, for instance, you’re from the UK You will be registered at GAIN Capital UK Ltd and receive PS 85,000 protection for investors. GAIN Capital UK Ltd is licensed by the FCA which is the UK regulator.


Protection of investors City Index
Client CountryThe amount for protection of investorsRegulatorLegal entity
Europe

Middle East

PS 85,000Financial Conduct Authority (FCA)GAIN Capital UK Ltd
AustraliaWithout protectionAustralian Securities and Investments Commission (ASIC)GAIN Capital Australia Pty Ltd
SingaporeWithout protectionMonetary Authority of Singapore (MAS)GAIN Capital Singapore Pte

Negative balance protection guarantees that retail traders will never lose more money in their account. In the event that the balance in your CFD or account for margin bets is negative, they will reduce the balance until it is zero free of charge to you (this is not applicable to trader professionals).

 

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Accounts

City Index offers three main kinds of trading accounts, including Premium Trader, Trader as well as Professional Trader. They also provide a free trial trading account to traders.

Each account shares some similarities and distinctions, as highlighted in the table of comparisons above.

A minimum money required is $150. When financing with debit or credit cards, it is required to deposit a minimum per transaction with a credit card of 250. This is a small amount considering that brokers need a minimum amount of at least 2,000.

BusinessmanPremium merchantProfessional
Minimum balance of the accountPS 0PS 10,000PS 0
Leverageup to 30: 1.up to 30: 1.Up to 400: 1.
Additional servicesManager of relationsManager of relations

If you wish to work using a professional bank account, you need to meet the requirements for example, like having an investment portfolio of EUR 500 000 or having at a financial institution with.

Based on the location depending on the property, you can choose to open accounts for individuals or corporations . If you’re in the UK You can also trade using the help of a SIPP account.


How can I create an account with City Index? City Index

1. By clicking on the Create Account button.

2. A registration page will be displayed which users can complete the information of their account details as follows:

3. The user is asked to provide financial and personal information, as well as such as employment status, work experience, and the currency that will be used for the account they want to open (EUR GBP, USD or EUR). Users are then required to accept specific terms and conditions, along with their preferred contact details prior to the broker beginning processing the request. This process could take as long as 30 seconds, as illustrated below:

Users are directed to a verification webpage where users can upload evidence of identity. and proof of address information in the following format:

Opening your account is entirely online and it only will take one calendar day before your account gets accepted.

REGISTER CITY INDEX ACCOUNTOpen Demo Account

 


Demo account

Demo accounts are created to help you get familiar with yourself with the features and tools that our platforms offer. The success or failure of the simulation of trading is not a factor on the future outcomes of any live trade you opt to join.

Note that a demo account can’t accurately reflect the entire market environment that could impact execution, price, and the requirements for margin within a trading atmosphere. The leverage and margin settings can differ in time and between the demo account and the live account as a result of adjustments to your live account’s settings by extreme volatility in the market or other reasons.

City Index offers demo accounts for CFDs and FX. Click here to open a demo account.

Here

to request a demo account. After filling in all the details. The notification will appear following:


How long will the demo of my account run?

Your demo account provides you with an unlimited period of access to more than 4500 markets. The account comes with an account balance of SGD 20000, so you are able to trade with confidence.

What platforms do I need to use?

Based on the account you open (CFD or FX/MT4) depending on the type of account you sign up to, you’ll be able to trade with Web Trader, iOS and Android mobile applications, as well as tablets and mobile MT4 download platforms to suit the type of account you have.

Can I expand my demo account?

The trial account only runs valid for 12-weeks, in the event that feel you require more time to learn how to trade You can always ask for a second one.

Products

City Index offers a wide array of trading instruments that cover all asset classes. These include:

Below is a listing of trading markets that are available:


Forex
In addition, there are minors, majors and certain exotics. The traders can select among USD, GBP, EUR and cross currency pair.EURUSD, AUDNZD, CHFJPY, USDTHB, GBP / AUD, GBP / CAD, EUR / AUD, etc.

Indices
City Index offers CFD trading on 21 indices from Asia, Europe, the US and AustraliaAustralia 200 CFD China A50 CFD Crypto 10 Index CFD, Sotcks 50 CFD from the EU, US SP 500 CFD, etc.

Share
City Index offers CFD trading for over four hundred shares from the globe’s top publicly traded corporations.Amazon.com, Lloyds Banking Group, Barclays (UK), Glencore, etc.

Crypto
The number of cryptocurrency options is limited by City Index, although they can provideBitcoin, Bitcoin Cash, Etherenum Bitcoin, Litecoin Curly

Additional markets
City Index offers CFD contracts for a range of different commodities and productsMetals Metals: Gold, Silver, Copper Platinum

Others Commodities: Crude Oil EE . US, UK Crude Oil No. 11 Sugar and Natural Gas

Bonds: UK Long Gold, Euro Bobl, US T-Bond, US T-Note

Interest Rates: 3-month short sterling, Eurodollar, 3-month Euribor

Choices include: UK 100, Wall Street, Germany 30, Australia 200

City Index has

Excellent selection of typical Forex as well as CFD products.

In comparison to Plus 500 This product line is more modern in comparison, and IG is becoming the dominant player by increasing the variety of products offered.

Index of citiesI GPlus500
FX pairs (#)
84

205

70
Stock indices CFDs (#)
twenty-one

78

26
Stock CFDs (#)
4,500

10,500

1,889
ETF CFD (#)
99

1,900

95
Commodity CFDs (#)
25

47

25
Bonds CFD (#)
12

13


Cryptos (#)
5

8

14

The drawback lies in the fact that it can not alter your levels of leverage levels

The ability to change the leverage can be an excellent option for those who want to decrease the risk involved in trading. For instance, instead trading 5:1 leverage, you should only trade 2:1 leverage for CFDs on stocks.

Be cautious when dealing with forex and CFD trading because the normal leverage amounts are very high.

* Information on available assets are sourced directly from the City Index website and are up to date at the time of the review.

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Platforms for trading

Web-based Trading Platforms

City Index offers users the option to trade on its highly advanced, feature-rich trading platform that is based on browsers known as HTML5 Web Trader, as well as its desktop download platform, called AT Pro, as well as MetaTrader 4. MetaTrader 4.

HTML5 WebTrader

The design is attractive and friendly. It is simple to modify, remove, or move the tabs.

The broker’s own browser-based trading platform is awash with features and includes the following features:

  • Create and customize different workspaces
  • Switch between different workspaces with a single click
  • Charts of trade and cross-pollinate markets
  • Smart trading tickets for sophisticated risk management
  • Limits for stop-loss are defined by points either PL, points or price.
  • Real-time margin calculator informs your decisions
  • Custom gauges and precise drawing tools
  • Multiple markets can be overlayed on one chart
  • Charts of trade
  • Find the significant business opportunities
  • Market news, the latest market information, charts, news and prices.
  • Reuters thorough market analysis on the platform


Search functions

We were impressed by the search features of the online trading platform. It is possible to search using the product you want to search for and you can also browse through an inventory of products that fall into specific categories like popular markets or forex. Reports on portfolio and fees report City Index has clear reports on its portfolio and fee information . They can be found under”Reports” “Reports” as well as download them in Excel or PDF format, XML and CSV.

Desktop Platforms

The platform is one of two desktop platforms: one of them being the AT PRO trade platform as well as MetaTrader 4.Similar to the web trading platform, we have tested the more advanced trading platform since it’s an official City Indexs platform itself, and MetaTrader 4. is a third-party platform.

Trading platform at PRO

City Indexs’ desktop trading platform City Indexs Desktop trading system comes with the similar features that the web-based trading platform. You can, for instance, utilize the same types of price alerts or orders.

AT Pro Trading Platform is specifically designed for experienced users, which means it’s not a simple platform for novices. It could be difficult for beginners to get around, and it seemed too full of features.

Let users develop their own business templates using C #, .NET, and Visual Basic with AT Pros Development Studio or use hundreds of templates built-in. Also , it offers:

  • More than 100 indicators of technical quality
  • Use graphics to make deals
  • Different chart types are available Different chart types are available, including Candlestick Heikin-Ashi, Candlestick, and Point Figure to allow you to discern the most important trends and patterns.
  • Make use of a range of drawing tools such as trend lines as well as Fibonnaci Retracements to determine crucial resistance and support levels.
  • Trading signals instantly highlight possible trade entry and exit points on charts to ensure greater precision
  • Select from more than a hundred free templates and modify them according to your preferences
  • Make use of this Excel back-testing tool to determine the performance of trading signals against the historical data
  • Custom-designed economic calendar
  • Reuters Live News
  • Portal for technical and fundamental analysis

The MetaTrader 4 MT4 trading platform

is among the most well-known Forex trading platforms in the world and provides:

  • Examine price movements and trends using indicators tailored to meet your requirements
  • You can access a variety of charts and time frames using the MT4 chart application
  • Automatize your business with our experts from our team of advisors
  • Customizable economic calendar
  • Trade more than 80 Forex pairs that include majors, minors and exotics.

Mobile platform

The two options are available, that you can utilize City Index and MetaTrader 4’s own mobile trading platform . Both platforms are accessible on iOS as well as Android tablets and smartphones. For this test, we have tested

City Indexs’ own mobile trading applications (City Indexs). Its City Index mobile trading platform is simple to use and well-designed. We loved that there was a Take a Tour option on the menu. Another excellent feature is the built-in calendar for economics that has sophisticated filter options as well as a highly customizable.

functions Search Functions of HTML0. capabilities of

The search results are excellent. You can search using the name of the asset or through different product categories.

There are many more functions that can be found on mobile devices like:

  • A hint of negotiation in charts
  • More than 60 gauge chart profiles that are saved in accordance with your personal preferences
  • Live Charts of TradingView
  • Get the most up-to-date global news on investment from Reuters through the app
  • Real-time price alerts
  • Custom-designed economic calendar

What trading system is the best your needs?

Many experienced traders will inform you that what they need from a platform for trading is something that is stable and user-friendly easy to use, intuitive, and doesn’t fail to function. Every platform is distinct and comes with its own pros and cons therefore it is important to know what you are looking for in the forex account and the platform prior to deciding.

How to perform an operation City Index

There are many kinds of orders, some even advanced ones.

  • Market
  • Limit
  • Stop
  • Stop following
  • One-cancel-another (OCO)

Also, there is a guaranteed stop loss option, which can be closed no matter whether the price.


Mobile

We couldn’t find any time limit for orders that we could utilize.

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Deposits and withdrawals

City Index accepts deposits and withdrawals using:

  • Credit card
  • Debit
  • EFT
  • BPAY
  • PayID
  • PayPal

There are no charges for withdrawals or deposits.


Deposits

How do I contribute to my account?

You can add funds to your account using credit or debit cards EFT, BPAY or EFT PayID or PayPal.

Card deposits

Choose the Finance tab located in the upper right hand corner of your trading website. From there, choose the option to deposit, Credit / Debit Card.

EFT, BPAY Paypal or PayID

You will find our bank’s information and details on how you can make a deposit to your account using EFT or BPAY. You can also fund your account via PayID and PayPal by clicking the “Funding” tab on the trading platform.

Please be aware

They do not accept cash deposits through your account at the bank.

They cannot accept third-party payment. Any transfer from a third party can be returned to the source.


How much is the minimal amount for deposits in the City Index?

The minimum amount for a deposit is 150.However, for funding with debit or credit cards, it is required to deposit a minimum per transaction for credit cards of 250.

How long will the deposit process take?

Please allow at least a 48-hour period for any PayPal payment. But, the process usually happens in a flash.


What are the fees for deposits?

There are no charges for depositing money into your account with your credit or debit card or local transfer.


The base currency of the account?

It is not possible to change the currency used to open the account upon making the initial deposit. If you wish to alter that then you must make contact with city index support. City Index support team.

If you have a deposit in your trading account using the same currency that you fund your bank account, or if you trade assets using the same currency that is the base currency for your account for trading, you will not need to pay a fee for conversion.


An easy method to reduce costs for currency conversion is to opening a multi-currency banking account with a digital bank.


Withdrawals


How much is the minimal amount of withdrawal?

The minimum amount for withdrawal is $150, or your total account amount (whichever lower).

The maximum amount you can withdraw in one transaction is $20,000. If you are able to withdraw money online using credit cards, there’s an amount limit of $20,000 within 24 hours.

If you wish to withdraw more funds than the limit online, reach out to your customer service team by using any of the methods listed on the contact us page.


Is it true that City Index charge withdrawal fees?

There is no charge. Your company doesn’t charge customers for withdraws.

How long does withdrawal take?

Instructions received from City Index for the payment request will be processed within three business days. Transfers to banks generally take 3 business days to process and any charges associated with transfers via telegraphic means will be covered by the user. Card withdrawals may take up to 10 business days to allow funds to reach the recipient. In rare instances, this could be longer. Customers can get in touch with them for assistance in case they do not receive their funds within 10 business days following the processing.

How can I take my money out of the City Index?

  1. Log in for access to City Index to access your City Index account
  2. Goto Financing
  3. Select To Withdraw
  4. Make sure to add the withdrawal amount
  5. Begin withdrawal

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Fees and commissions

Check out the complete list of costs and prices for City Index in all the markets they have.

  • They provide adjustable and fixed spreads.
  • their margins start at 0.2 percent.
  • The standard funding rate for Australian markets are the Reuters deposit rate of +2.5% / 2.5 percent

City Index has low fees for Stock and Forex Indices CFDs. However Stock CFD charges are expensive and include an inactivity charge after a year.


Index City Index City Interest Rates

The bigger trading, the greater the risk that comes with the transaction. This is why we might raise our margin requirements in larger trades as well as any other trades that are made on the instrument. Here is an illustration of how this could be done:

CFD AmountMargin
1-1,0005.5%
1,000-10,00010 10%
10,000-50,00015 percent
More than 50,000Twenty percent


Commission

Except for CFDs that trade in stocks All CFDs are commission-free.

Stock CFDs are subject to charges that are based on market prices See the table below for more details:

Market nameCFD spreadCFD commissionMinimum
UK stocksMarket0.1 0.1%PS 10
European stocksMarket0.1 0.1%EUR 25
Australian stocksMarket0.09%$5 $ 5
US stocksMarket0.15 percent$25 USD


Charges for finance

A fee that you pay to maintain open positions for the duration of. The daily fee for funding is credited to your account every day you have the position (including the weekends). The financing rates are determined by a regional reference rate of ++/2.5% 2.5 percent. The rates we charge for each region are:


Country

Financing for long positions

Financing for short positions

United Kingdom
LIBOR + 2.5%LIBOR -2.5 percent

US
LIBOR + 2.5%LIBOR -2.5 1.5%

EU
LIBOR + 2.5%LIBOR -2.5 1 %

Australia
Deposit + 2.5 percentageDeposit -2.5 percent

Additional international
Contact customer serviceContact customer service


Does there exist an overnight charge for finance to hold Bitcoin?

Yes. Overnight financing costs 0.08219 percent per day (may alter based on market conditions).

inactivity charges

If there is no transactions on your accounts (s) for at least more than 24 months the account (s) will be deemed inactive. The term “activity” refers to the act of making a trade or having an open position in the time period. Making an order on a bank account that is not executing a trade is not considered “Activity” to be used for this purpose. An inactivity fee per month of $15 (or equivalent to currency) in the amount of $ 15 (or you cash balance if it is less than $15) is applicable to accounts that have been inactive for a period of 24 months or more.

 

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Promotions, bonuses and incentives

As of the date we wrote the City Index review, they weren’t offering any incentives or promotions. However, this could change with time.

Business functions

City Index offers an impressive array of trading options which are integrated in its trading platform. For instance, customers have access to the guaranteed Stop Loss orders across a variety of markets.

The broker also provides the option of an outside technical analysis tool and fundamental analysis research tools which allows users to look at chart patterns as well as a variety of oscillators, both bearish and bullish indicators and indicators.

The broker also provides basic analysis tools that are powered by Trading Central, including:

  • Valuation of stock
  • Opportunities to buy better
  • Company metrics
  • Global data
  • and many more.

 

Customer Support

 

City Index offers customers 24/7 assistance via live chat, telephone email, as well as an online form for contact. You will receive quick and accurate answers via chat or phone. However the time it takes to respond to emails is a bit slow.

 

If you would prefer using live chat, you need to first start the chat. You can open a chatbot that can answer simple questions, for example “How do I make a deposit?”. It’s not easy when you’re looking to speak to an actual person. It is necessary to type the name of the agent and chatbots will allow you of speaking to a support or sales agent.

We have received relevant but infrequent responses via email. We got responses after only five or six days or more, especially during the summer vacation season.

City Index’s customer support is not accessible all hours of the day seven days a week However, it is open between the hours of 5:00 pm on Sundays.


Contact details:

  • Address 16. Finsbury Circus, London, EC2M, UK
  • Email: support@cityindex.co.uk
  • Telephone Local: 0845 355 0801 (local rate) or International +44 203 194 1801

In addition they have a complete FAQ section.

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Education in research

City Index has a large and dedicated section of training for traders who are new, however because it is multi-asset that is a multi-asset broker, the focus isn’t exclusively focused on Forex trading. The Market News Analysis area is extensive and helpful, however this time, the focus is distributed over all assets in City Index.

Education material

The material for education on City Index is good but is not suitable for runners who is of your size and kind. The tab for training on the website, you’ll get links to short and more in-depth classes on fundamental analysis, technical analysis, business strategy , and risk management. There’s also a video library that covers the most common Forex issues.

A more comprehensive multimedia course titled Introduction to Trading will be useful for novice traders who wish to become familiar with trading as fast as they can.


Materials for Research

The Market News Analysis tab, you’ll find an area that is dedicated to research on a daily basis and analysis of fundamental news developments. The site is regularly updated by a small group comprised of City Index analysts and covers the entire spectrum of assets that can be traded that are listed on City Index. The articles can be filtered by author, subject, and asset type, so getting pertinent Forex information and analysis isn’t difficult.

In this section, there is an extremely basic Economic Calendar that covers all known economic occasions.

City Index also hosts webinars but not often and you’ll have to be a current customer to register for the webinars. There are a variety of videos available on the channel. YouTube channel, such as below:

Overall, it’s a pretty poor analytical section, particularly in comparison to other major brokers such as CMC Markets or Plus500.

 

 

Conclusion

City Index has been around for a long time , and it appears to have worked hard to perfect the services it offers its clients. It is a worldwide broker approved and licensed by top-tier world regulators.

It is a simple and transparent, yet competitive trading service, suitable for novice and advanced traders. Customers can access Spread Betting accounts, which allow commission-free trading, as well as CFD trading accounts that allow commission-free trading for all asset classes , excluding Shares.

The traders can use greater than 12,000 trade instruments that cover many markets, such as indices, currency, stocks, cryptocurrencies commodities, metals bonds and interest rates that have extremely competitive spreads.

Alongside this regulatory platform, it also has created an easy-to use, rich in research, trading environment that appeals to traders of all kinds and investors, such as it’s HTML5 website Trader platform as well as the AT Pro desktop download platform for traders with advanced skills and the world-renowned MetaTrader. Four.

The broker provides interesting advanced tools for trading with its technical analysis as well as its fundamental analysis portal. They also provide a high quality of research and education that both advanced and beginning traders will find helpful and accessible.

However, it has certain drawbacks. The range of products is small and the shares CFD charges are quite expensive.

Simply put, City Index provides a top-quality user experience that is built on an established foundation. They are able to be recommended to anyone at any level of trader.

We would however appreciate hearing your opinion on City Index; You can leave your thoughts in the comments section below, or request more information, if needed.

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