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“Trader education on City Index starts right from the point of successful account registration”
City Index does not just paste information for traders on its website and hope that newbies would get information there. Rather, trader education starts from the point of successful account opening, as City Index sends its new traders a welcome pack by email. This welcome pack contains basic information as to how to commence the process of trading on the City Index platforms.
Phone support is available for platform walkthroughs. Ongoing support is provided by email on updated pricing of assets, services and fees. You also get access to market trends for specific assets on City Index, via an email newsletter sent out once a month.
Finally, City Index offers traders a comprehensive facility for trader education in the form of the City Index Trading Academy. This academy features articles, videos and practical trade examples.
“The City Index platforms are suitable for all categories of traders, as they have tools that can be used by beginners, intermediate-level traders and experienced users. However, it needs to work on its site navigability to address some concerns from its users on the ease of use of its website.”
In terms of ease of use of its trading platforms, City Index has made it possible for traders of all categories to use its platforms easily. The platforms are not all-in-one products. Rather, City Index has provided the MT4 for forex trading, a different platform for CFD trading and another for its spread betting product. This makes it easy for traders to find the products they want to trade easily.
The broker offers a whole selection of trading tools for all levels of trader, these include signals which are great for beginners. Economic calendar suitable for all levels of trader and charting packages suitable for advanced traders.
Average spreads seem to really low, which is great for professional traders that trade a high volume. Also the fact that there are a selection of account types available opens up the services to beginner, intermediate and even pro traders.
Who owns the City Index brand?
The brand is owned and operated by Gain Capital UK, the London-based branch of the Gain Capital Group.
What is the minimum deposit and withdrawal amount on City Index?
Bank wire transactions require a minimum deposit/withdrawal amount of 100 GBP (or its equivalent in other currencies). No limits exist for card transactions.
What trading platforms are offered by City Index?
The trading platforms on City Index are MT4, Advantage Web, Web Trader, AT Pro and Advantage mobile apps for Android and iOs devices.
Is the City Index regulated?
The brand is regulated by the Financial Conduct Authority in the UK and Wales.
How many currency pairs can I trade on City Index?
City Index offers 84 currency pairs for trading.
Are any bonuses provided on City Index?
Bonuses are prohibited by the UK regulator, so City Index does not offer any bonuses or promotions.
I am based in the US. Can I trade with City Index?
City Index does not accept US traders. Rather, you will be directed to the Gain Capital US brokerages to open an account.
“This 36 year old brokerage offers trading of over 12000 assets on a selection of proprietary and turnkey trading technology. They offer trading of Spread Betting in the UK and FX and CFD’s across their other regions too”
Providing 12,000 assets for trading is no mean feat. But this is what this 36-year old brokerage brand has been able to accomplish: all within a regulated and safe trading environment. The use of the MyAccount system to initiate transactions has improved the safety net of investors’ funds. City Index has also compartmentalized its trading products, so that traders can download platforms that are suitable to trade forex, CFDs and spread betting products independently. This has eliminated the confusing systems seen with many UK brokerages, where all trading products are lumped into a single platform.
The only complaints users have had with City Index are in the areas of the navigability of its website, and the limited nature of its payment systems. Users from outside the UK are unable to use card systems to deposit and withdraw funds, leaving just the bank wire as the only means available to such users. City Index has to improve on this feature to continue to attract patronage outside the UK.
Generally speaking, City Index has a high trust index among the trading public, and it is a good brokerage for those seeking safety of the trading environment, versatility in the trading products offered and responsiveness in customer support.