21/2/ · Asset selection at City Index is exceptional, catering to traders across the spectrum. Besides core assets, traders have access to a wide range of secondary markets. Account 21/1/ · No City Index review is complete without discussing the numerous awards the company has received over the years. During the OPWA Awards in , the broker earned Web21/1/ · No City Index review is complete without discussing the numerous awards the company has received over the years. During the OPWA Awards in , the broker Web7/11/ · most of my tickets trading with them went the opposite way, they run against all the time, terrible company, I have been robbed! everytime I went short the price went ... read more
The GSLO order can be used as follows:. Forex traders have the option to explore the market using more sophisticated trading tools and advanced charting packages.
Forex traders are depending on these technical tools to make sound trading decisions. The core technical tools can be summarized below:. The charting solution offered by City Index is excellent. The charting software comes with a lot of built-in features that are designed to help forex traders to spot new opportunities in the financial markets. City Index charts have a plethora of advantages including:. When you open an account with City Index, you also gain access to an impressive educational trading academy.
City index offers retail investors and professional traders hundreds of lessons available at their fingertips. You can learn to trade with City Index Training Academy and have access to the following types of educational material:.
The global research team at City Index has been awarded multiple times for their level of professionalism. The market analyses that can be found on the city index section are constantly featured on the mainstream media MSM publications such as The Guardian, The Telegraph, BBC or Sky News.
The weekly forex outlooks and forecasts published every Monday morning at City clients can also join the exclusive trader development program if they want to learn from an ex-Goldman Sachs professional trader.
The program is run by Tony Sycamore from TECHFX TRADERS, which has over 20 years of trading experience. The trading strategy course is divided into three main sections that are intended to take a complete novice trader and turn him into a professional trader:.
Note, to have access to the trader development program, one would only need to open an account with City Index and make a minimum deposit. Traders with City Index in the United Kingdom should be aware of a few details not found with City Index in regions outside Europe. FCA in line with ESMA guidance allows more generous leverage to professional traders, as it is understood professional traders have the experience to trade with leverage responsibly and the resources to handle losses that would be difficult for retail traders to absorb.
Traders will also receive priority services, cash rebates, access to a client relationship manager and credit facilities. City Index offers offer spread betting as an option for trading in the United Kingdom. Spread betting is similar to CFD trading in that it is a form of margin trading and most of the same instruments are available with the same leverage however traders do not buy contracts of the underlying instruments. Instead of contracts, clients are betting on price movements of the financial products.
Spread betting is popular in the United Kingdom as there are no capital gains taxes, which means more profits. All other forms of trading styles are welcomed at City Index including hedging. A better choice would be IC Markets or Pepperstone , which both welcome scalping along with offering the lowest spreads in the forex industry. City Index runs a market-maker pricing model through its proprietary dealing desk. In other words, City Index creates its own market for retail traders to buy and sell financial instruments.
By comparison, ECN brokers operate through a no-dealing desk NDD where client orders are matched directly with various liquidity providers LPs.
Compare the Best MT4 ECN Brokers for , to get the best deal for your trading needs. GBP is the minimum deposit at City Index or units of the account base currency.
All deposits into your City index account are free of charge. Overall City Index is a strong brokerage that beginning and intermediate forex trading enthusiasts should consider when looking for a new place to trade online. Although limits exist in regards to its trading platforms and leverage restrictions — these may be issues for some traders, not enough to offset the advantages this brokerage offers. If your looking for a low-cost broker, then IC Markets may be more suited to you.
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Pepperstone Review IC Markets Review FP Markets Review CMC Markets Plus Review eToro Review IG Review FXCM Review. Home » reviews » City Index Review. City Index Review City Index is the retail Forex broker arm of GAIN capital that has offered CFDs trading for over 35 years. Written by Justin Grossbard Written by Justin Grossbard Co Founder.
Fact Checked We double-check broker fee details each month which is made possible through partner paid advertising. Learn more this here. To compare City Index select your region of residence Compare spreads, leverage, forex trading platforms, reviews and more. Account Types Spreads Leverage Trading Platforms Minimum Deposit Customer Support Regulation. In our comprehensive City Index review, the top three key strengths found in the platform were: Range of markets with tight spreads Minimum Deposit Regulation and Support The top three key weaknesses found in the platform were: Leverage Trading platforms Inactivity Fee Our Rating The overall rating is based on review by our experts.
City Index Range of Markets There is a range of CFD trading options available with the City Index. With a City Index live account, you can trade indices, shares, crypto, forex and commodities through: Contract for Difference CFDs Spread Betting only for the UK traders 1 Forex Trading City Index offers 84 currency pairs for trade through the CFD trading platform MetaTrader 4.
City Index Minimum Deposit There is no minimum deposit for City Index CFD accounts. There are six main ways to fund a trading account in Australia: Credit Cards Visa and MasterCard Debit Cards Electronic Funds EFT BPay PayID PayPal Up to three debit or credit cards can be used for an account across Visa and MasterCard.
City Index has to comply with the rules and standards imposed by the following global regulatory authorities: Australian Securities and Investments Commission ASIC Financial Conduct Authority FCA in the United Kingdom license number trading as forex. Compare to other forex brokers in the UK. Monetary Authority of Singapore MAS trading as forex. com All Citi Index client funds are held in segregated accounts. Best trading platforms. Best options trading platforms.
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Fees Account opening Deposit and withdrawal Trading platform Markets and products Research Customer service Education Safety Bottom line.
City Index review summary City Index is a global CFD and FX broker founded in Recommended for forex and CFD traders looking for low forex fees and great research tools. See Best Alternative. City Index pros and cons City Index has low forex trading fees, and non-trading fees, like withdrawal fees, are also low. Compare to other brokers. Our overall City Index rating. Account opening. Deposit and withdrawal.
Trading platform. Markets and products. Customer service. Top 5 brokers. Get your personalized toplist:. Find my broker. City Index review Fees. City Index has low fees for forex trading and there is no withdrawal fee.
On the other hand, stock CFD fees are high and an inactivity fee kicks in after one year. Europe 50 CFD Low The fees are built into the spread, 1. EURUSD Low The fees are built into the spread, 0. Inactivity fee Low £12 per month after one year of inactivity How we ranked fees We ranked City Index's fee levels as low, average or high based on how they compare to those of all reviewed brokers.
Trading fees occur when you trade. These can be commissions , spreads , financing rates and conversion fees. Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees. To have a clear overview of City Index, let's start with the trading fees. City Index trading fees City Index trading fees are low. We have chosen popular instruments within each asset class: Stock index CFDs: SPX and EUSTX50 Stock CFDs: Apple and Vodafone Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP A typical trade means buying a leveraged position, holding it for one week, and then selling.
The leverage we used was: for stock index CFDs for stock CFDs for forex These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. CFD fees City Index has low stock index CFD fees , but high stock CFD fees. Non-trading fees City Index has low non-trading fees. City Index review Account opening. City Index's account opening process is fully digital and there is no minimum deposit. It took one day for us to get the account approved.
Where do you live? Lucia St. Virgin Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Venezuela Vietnam Wallis and Futuna West Bank Western Sahara Yemen Zambia Zimbabwe. Our best alternatives to City Index are: The highest ranking competitors are: CMC Markets full review XTB full review Capital. com full review IG full review. City Index review Deposit and withdrawal. City Index provides multiple deposit and withdrawal options, all free of charge.
However, withdrawal is not possible with some credit cards. Base currencies at City Index vs similar brokers City Index CMC Markets XTB Number of base currencies 3 10 5 This selection falls behind competing brokers. Compare digital banks Deposit fees and options City Index charges no deposit fees.
City Index review Web trading platform. City Index's web trading platform is user-friendly and extremely customizable, with lots of order types. On the negative side, there is no two-step login. Look and feel City Index's web trading platform is user-friendly and looks great. City Index review Mobile trading platform. City Index's mobile trading platform has a modern design and is easy to use. However, there is no two-step authentication. Look and feel The City Index mobile trading platform is user-friendly and well-designed.
On the negative side, features were sometimes a bit slow to load. City Index review Desktop trading platform. City Index's desktop platform has the same functions as the web trading platform but lags behind in user-friendliness. For example, you can use the same order types or price alerts On the downside, the desktop trading platform is less user-friendly and the design feels outdated.
City Index review Markets and products. At City Index, you can only trade CFDs, forex and cryptos. Other popular asset classes, like real stocks or funds, are not available. City Index has an average selection of forex and CFD products. City Index product selection City Index CMC Markets XTB Currency pairs 84 56 Stock index CFDs 40 88 40 Stock CFDs 4, 10, 1, ETF CFDs 1, Commodity CFDs 41 21 Bond CFDs 14 55 - Cryptos 8 15 25 FCA bans the sale of crypto-derivatives to UK retail consumers from 6 January You can't change leverage levels.
This is a drawback. City Index review Research. City Index has great and diverse research tools. You can take advantage of good charting tools, trading ideas and quality news. On the other hand, it lacks fundamental data. Trading ideas City Index provides trading ideas based on technical analysis. City Index review Customer service. City Index customer service is great.
You can reach them in many ways and get fast and relevant answers via phone and chat. On the negative side, email support is really slow. City Index review Education. City Index does a great job in education.
It offers many ways to learn, from a demo account to educational videos. City Index review Safety. City Index is regulated by top-tier authorities, such as the UK's FCA. Its parent company, StoneX Group Inc. Is City Index safe? Real-time financial news from Reuters provides you with data and market reports directly into all trading platforms and apps. This is a great way to keep up to date with the latest market news and to assist with fundamental analysis.
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. City Index have a global research team that provides expert market analysis to help forecast potential market movements and trading opportunities. If market analysis is something you are looking for in a broker, you may also wish to consider ActivTrades as an alternative.
Whatever your level of trading experience is, City Index provide a large amount of educational material to help improve your trading knowledge and skills.
This includes educational videos, articles, webinars, tutorials, and practical examples of trading topics. There is a City Index trading academy with trading guides covering everything from an introduction to the different financial markets to trading strategies and chart analysis.
You can learn how to use a trading strategy, how to analyse the charts using technical and fundamental analysis, how to apply risk management to your trades and much more.
They even provide clients with an experienced relationship manager for insight and trading support. Through City Index, you can trade on over 12, global markets with a Spread Betting , CFD Trading or MT4 account. It can be a good idea to opt for a trading broker who offers so many different markets and trading instruments in case you wish to branch out and diversify your portfolio in the future. City Index offer a selection of different trading accounts that allow for fast, easy payments and secure withdrawals.
If you are primarily looking to trade currency pairs, the Spread Betting and CFD accounts will give you full access to their FX range with spreads from just 0. I found the accounts to have tight spreads, low margin requirements and fast trade execution speeds. 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.
Each City Index account will give you access to all trading instruments although to use the AT Pro trading platform, the professional trader account is required. There is an inactivity fee to be aware of if you do not use your account. This account includes a risk management feature with negative balance protection so that you never lose more than you deposit and margin close-out as standard. 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.
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.
This account includes increased leverage, monthly cash rebates on FX and Indices trades, a credit facility and broker-assisted dealing, lower margin rates, rewards and premium events as well as a dedicated client relationship manager. It is worth noting that there is no negative balance protection on this account. The broker also provides users with demo accounts if you would like to test the different trading platforms and conditions before opening a real account. Do keep in mind that factors such as slippage and spreads can vary from demo to real accounts.
It is quick and easy to apply for an account at City Index. You simply choose the account type that you require and complete a short online form. Once that is done, you need to verify your email and upload proof of identification and address.
After they have been received and approved, you can then fund your account and commence trading. City Index have some FAQs for help and support whilst the client services team are available 24 hours a day, 5 days a week to answer any particular questions that you may have.
Support is available via online chat, phone or email. They provide you with introduction calls, ongoing support and monthly newsletters. Of course, you can opt out at any time. You can manage your account easily through their secure funding portal.
I would like to see them include some more online payment processors. Whilst PayPal is the most popular, there other alternatives nowadays such as Skrill and Neteller. Additionally, it would be great if they were to introduce crypto payments but I understand this may not be possible due to regulatory restrictions. Fees may be charged when using certain payment methods. Bank transfers can take a few business days to clear.
The various different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Compare Broker Features Compare Brokers vs Our Top 3 Brokers This Broker AvaTrade IG IC Markets Founded Regulated ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA ASIC, CySEC, FSA, SCB Min. They offer some of the most advanced trading platforms and tools whilst having an abundance of educational materials for traders of all experience levels.
The account types offered are flexible enough to suit each individual trader needs, whilst the spreads are very competitive, execution speeds fast and customer support excellent. They have over 35 years of experience, offering fast and reliable trade execution speeds, tight spreads and award-winning trading platforms.
Richard Montana Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings.
We aim to help you find the best broker according to your own needs. You can read more about our review process. Home Trading Broker Reviews City Index Review. City Index Review Richard Montana November 17, Table of Contents.
City Index is a global CFD and FX broker founded in City Index is the trading brand of StoneX Financial Ltd. is listed on the NASDAQ Stock Exchange. The company is regulated by top-tier financial authorities, such as the UK's Financial Conduct Authority FCA , the Australian Securities and Investments Commission ASIC and the Monetary Authority of Singapore MAS. City Index is considered safe because it has a long track record, it is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. You can't open an account at City Index if you live in Colombia. See the best alternative available in your country. City Index has low forex trading fees, and non-trading fees, like withdrawal fees, are also low.
Account opening is fast and smooth and a wide range of high-quality research tools are available. City Index provides only forex, CFDs and crypto trading. The fees for stock CFDs are high and the desktop trading platform is not user-friendly. We ranked City Index's fee levels as low, average or high based on how they compare to those of all reviewed brokers. First, let's go over some basic terms related to broker fees.
What you need to keep an eye on are trading fees and non-trading fees. In the sections below, you will find the most relevant fees of City Index for each asset class. For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates.
We also compared City Index's fees with those of two similar brokers we selected, CMC Markets and XTB.
This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of City Index alternatives. We know it's hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable?
We compare brokers by calculating all the fees of a typical trade for selected products. A typical trade means buying a leveraged position, holding it for one week, and then selling. The leverage we used was:. These catch-all benchmark fees include spreads, commissions and financing costs for all brokers.
City Index has low stock index CFD fees , but high stock CFD fees. Stock index CFD fees are built into the spreads, while stock CFD fees are charged via commission. City Index has low non-trading fees. There is no withdrawal fee or account maintenance fee. On the other hand, there is a £12 monthly fee after one year of inactivity.
There is no minimum deposit at City Index. City Index provides three account types , which differ in the account balance required, the maximum level of leverage and the provided additional services. Based on ownership, you can open an individual or corporate account. If you are from the UK, you can also trade using a Self-Invested Personal Pension SIPP account. The account opening is fully digital and it takes only 1 day until your account is approved. At City Index, you can choose from 3 base currencies: EUR, GBP, USD.
This selection falls behind competing brokers. Both CMC Markets and XTB offer more base currencies. If you would like to change the base currency of your account, you have to reach out to the City Index support team. Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee.
A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers.
Opening an account only takes a few minutes on your phone. Compare digital banks. City Index charges no deposit fees. Once the account base currency is set, you can fund your account only with the same currency. You can only deposit money from accounts that are in your name. City Index charges no withdrawal fees. The options for withdrawing funds are the same as for deposits. How long does it take to withdraw money from City Index?
Withdrawals usually take business days. When we tested withdrawal, it took several weeks because we had a problem with credit card withdrawal. The reason for the problem was that City Index can't send money to some MasterCard and Visa credit cards. Instead of credit cards, we had to withdraw via bank transfer, but before doing so, customer service had to add and approve our bank account. It would be great to know in advance which cards are accepted and which are not. We tested Web Trader as it seems the best trading platform in terms of functionality and design.
The platform is available only in English. It is extremely customizable. It is easy to add, remove, or change the size and position of tabs to create your own unique trading platform. It also lets you pick between a light or dark theme and between 'one-click' or 'two-click' trading. City Index provides only a one-step login. Two-step authentication would be safer here. We really liked the search functions of the web trading platform. You can search by typing the name of the product you're looking for or browsing a categorized product list.
If you are not familiar with the basic order types, read this overview. You can set alerts or notifications to know when an asset reaches a price target or when your order gets fulfilled. On the web platform, this feature appears either as an icon or a browser notification. On mobile, you will be informed via a push notification. City Index has clear portfolio and fee reports. You can find these under the 'Reports' tab and download them in PDF, XLS, XML or CSV format.
You can use City Index's own or the MetaTrader 4 mobile trading platform. Both are available on iOS and Android. In this review, we tested City Index's own mobile trading platform. The City Index mobile trading platform is user-friendly and well-designed. We liked the 'Platform tips' option on the menu, which provides a demo of the mobile platform's functions. Another great feature is the embedded economic calendar, which has advanced filter options and can be customized on a high level.
You can log in using biometric authentication. This feature provides a convenient way to log in to the app. The search functions are good.
You can search by typing the name of the asset you're looking for or browse product categories. City Index offers two desktop platforms, the Advanced Trading Platform and MetaTrader 4.
Similarly to the web trading platform, we tested the Advanced Trading Platform as this is City Index's own platform, while MetaTrader 4 is a third-party platform. City Index's desktop trading platform has the same functionality as the web trading platform. For example, you can use the same order types or price alerts. On the downside, the desktop trading platform is less user-friendly and the design feels outdated. It was hard to navigate on the platform and it felt too crammed with functions.
City Index is a CFD and forex broker. To learn more about CFDs read our CFD trading tips. FCA bans the sale of crypto-derivatives to UK retail consumers from 6 January Changing the leverage manually is a very useful feature when you want to lower the risk of your trade. Be careful with forex and CFD trading, as the preset leverage levels may be high. You can find City Index's research tools on the trading platforms or on the website under 'Market News'.
City Index provides trading ideas based on technical analysis. You can find them on the platform if you click on 'Trading Central'. At Trading Central you have access to numerous technical analysis based metrics and recommendations.
Web7/11/ · most of my tickets trading with them went the opposite way, they run against all the time, terrible company, I have been robbed! everytime I went short the price went Web21/1/ · No City Index review is complete without discussing the numerous awards the company has received over the years. During the OPWA Awards in , the broker 21/2/ · Asset selection at City Index is exceptional, catering to traders across the spectrum. Besides core assets, traders have access to a wide range of secondary markets. Account 21/1/ · No City Index review is complete without discussing the numerous awards the company has received over the years. During the OPWA Awards in , the broker earned ... read more
Your email address will not be published. The fees are built into the spread, 1. A key component of a City Index review for beginner and experienced traders trying to decide whether this platform is right for them is the leverage structure. In other words, City Index creates its own market for retail traders to buy and sell financial instruments. com annual forex broker review six years running is the most cited in the industry.MT4 is available for free on the Windows, Android, and iOS platforms. ACCEPT Read More. Media mentions. Compare City Index To Other FX Brokers With Our 'Head To Head' Comparison Tables. City Index Review City Index is the retail Forex broker arm of GAIN capital that has offered CFDs trading for over 35 years. If your looking for a low-cost broker, then IC Markets may be more suited to you. The main account type that allows for the full range of financial markets is the CFD account, whilst the MT4 account allows only for currency trading, city index forex trading reviews.