City Index offers forex CFD markets on over 65 global FX pairs including majors, minors, and some exotics. No Cryptocurrency Trading for UK Retail Clients – Due to FCA regulations, City Index does not offer cryptocurrency trading for retail traders in the UK. Investing in financial instruments, commodities, and other assets carries inherent risks, and there is a possibility that you may lose your entire investment. It is essential to be fully aware of these risks before engaging in any trading activity. While there are no fees for most deposit and withdrawal methods, traders should be aware of potential third-party charges or fees imposed by their bank or payment provider.
Spread Betting
Indices, commodities, and stock CFDs have different minimum position sizes based on the instrument being traded. For precise details, traders should check city index review the specifications for each asset on the City Index platform. When it comes to making informed decisions about forex brokers, it’s essential to rely on trustworthy sources.
Deposits and Withdrawals
Traders can use the City Index demo account for a limited period only (UK — 12 weeks; AU — 2 weeks; SG — 30 days). Traders will also find comprehensive market information, including a detailed analysis from Reuters. There is no minimum deposit — City Index recommends $/£/€100 as a starting point.
City Index’s fee structure is competitively priced and especially advantageous for active traders who can benefit from its VIP discounts. However, the average spread on EUR/USD for standard accounts is slightly higher at 1.4 compared to the industry average of 1.08, which is something cost-conscious investors should consider. The broker offers fixed spreads for many indexes and commodities and variable spreads for forex and other markets, but this categorization isn’t intuitive. City Index has a dedicated “Academy” section on its website, offering a variety of courses and lessons that cover both basic concepts, and the more advanced trading strategies and ideas.
In addition, the Markets in Financial Directive (MiFID) allows the company to operate as a regulated entity throughout the European Union. One-click trading on mobile can also be enabled in a single tap via the top menu. For compliance purposes, City Index must transfer your funds back to the original source you used to fund your account. This account needs to be in the same name as the account maintained with City Index.
- The company also posts regular news and analysts videos on YouTube, as well as on its site.
- Our broker reviews are reader supported and we may receive payment when you click on a partner site.
- City Index has a Training tab on its website that offers educational resources for traders at all levels.
- Traders in Australia can also choose the RAW FX account type which has low commissions starting from just USD 5 or AUD 6 while Singapore traders have the option of a DMA account.
- In 2014, Michael Spencer, the founder and controlling shareholder of City Index, sold the company to GAIN Capital Holdings for $118 million.
City Index offers innovative features designed to enhance the trading experience, including copy trading and additional services that cater to traders looking for automated or diversified strategies. 71% of retail CFD accounts lose money You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Minimum and average spreads are fairly competitive, at 0.70 pips minimum and 0.80 pips typical for the EUR/USD currency pair.
Executing Trades
Owned by StoneX Group, a NASDAQ-listed financial powerhouse, City Index is recognised for its transparency, regulation, and reliability. City Index has an impressive catalog of over 13,500 tradable products across forex, CFDs, and spread bets, as well as options on indexes, shares, commodities, metals, bonds, and interest rates. Clients can trade more than 4,700 stocks from multiple exchanges while index and metal CFDs can be traded on a cash or futures basis. Additionally, traders enjoy access to pre-market and after-hours trading on over 70 popular U.S. stocks.
XTB Broker: ETF Trading Benefits and Conditions
- Scalpers may make multiple trades over the course of a day and don’t leave positions open over night.
- I update my levels on the US dollar index and EUR/USD charts then wrap up market exposure to USD index futures.
- In 2001, the firm introduced CFD trading, and in 2006, with the acquisition of IFX Group, City Index entered the forex marketplace.
Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points. The platform offers a variety of account types, competitive spreads, and powerful trading tools to cater to a wide range of trading styles. Its transparent pricing and the availability of a demo account make it a good alternative for traders looking for flexibility and a diverse selection of chances. City Index is a well-regulated and reputable broker offering a diverse range of tradable markets, competitive pricing, and multiple trading platforms. Its regulation under FCA, ASIC, MAS ensures strong financial oversight, making it a trusted choice for traders who prioritise security.
City Index account types
Investing in CFDs involves making price bets as to whether the opening and closing prices of an underlying asset or security will rise or fall. Spread betting is betting on the price movement of an underlying security or asset without actually owning the security or asset. City Index trading fees are both fixed and variable spreads depending on the market. You can Trade indices, stocks, forex, metals, and commodities on the web and desktop platforms with the support of TradingView.
Spread betting brokers are popular in the United Kingdom as there are no capital gains taxes, which means more profits. You can view our City Index Spread Betting review our our sister site spread-bet.co.uk. These regulating bodies are the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS).
The charting feature offers dozens of technical indicators and precision drawing tools. Traders should consult the City Index products section of the website for specific leverage allowances for each financial instrument. Each financial instrument also has specific City Index margin requirements that traders must maintain. Traders can use demo accounts for up to twelve weeks, and City Index provides them free of charge. The City Index demo account comes with 10,000 demo credits and allows access to all features of the platform. The broker offers both fixed and variable spreads depending on the specific market being traded.
City Index offers a wide variety of trading platforms, including robust mobile applications on iOS and Android for on-the-go traders. City Index is one of the longest-standing brokers in the trading industry, with a history dating back to 1983. Over the years, it has built a strong reputation as a multi-asset brokerage, offering traders access to a diverse range of markets and professional-grade tools.
I update my levels on the US dollar index and EUR/USD charts then wrap up market exposure to USD index futures. The weekly forex outlooks and forecasts published every Monday morning at 10.00 am is another insightful tool that will prepare forex traders for the week ahead. In addition to these methods, traders can also find the answers to a range of frequently asked questions in the FAQ section of the brokerage’s website.
Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University. Founded in 2014 and acquired in 2021, BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. With over 60 brokers reviewed, our editorial team has published thousands of words of research to help our readers make informed choices.
When deciding on a broker, you can save on costs by choosing a broker with tight spreads. For this exercise, we used 6 major currency pairs and then averaged the spread result. By doing this we hoped to nullify variations in better and worse-performing pairs by each broker. City Index however is not without its downside, fees for stock CFDs are on the higher side, and its desktop trading platform could do with some improvement. To close your City Index trading account, you need to contact the client management team. Before the account can be closed, you need to answer two security questions that you set up prior to verifying your identity.