City Index Review
Founded in 1983,
City Index is considered by many as one of the oldest forex and CFD brokers in the industry. Operating for more than 30 years, it has grown to become a leading provider of spread betting and CFD trading. It is owned by GAIN Capital Holdings, Inc. The group is a global provider of online retail trading services with a quarter million funded accounts, $1.2 billion of managed assets and with an annual turnover of more than $3 trillion. Employing over 800 staff and with offices in major cities such as Dubai, London, Tokyo, Sydney, Hong Kong, Singapore and Shanghai, this firm is truly an industry leader. City Index Video Review
VIDEO City Index Regulations
As a group, City Index is regulated by several financial regulatory agencies in different jurisdictions around the world. For its UK operation, City Index is regulated by the Financial Conduct Authority (FCA). For its Dubai operation, City is regulated by the UASE Central Bank. In Singapore, City Index is under the jurisdiction of the Monetary Authority of Singapore (MAS). In Australia, City Index is regulated by the Australian Securities and Investments Commission (ASIC). By being regulated in several jurisdictions, City Index is able to provide its clients that their money will be safe and handled professionally, according to the strict regulatory guidelines imposed by the regulatory authorities.
City Index Reliability
In terms of its reliability, City Index is well known to be a professional and trustworthy broker. The broker is backed by NYSE listed company with numerous other leading brands under its management. In addition, as an FCA regulated broker, City Index is also a member of the Financial Services Compensation Scheme (FSCS). Under this scheme, the funds of traders are protected by up to an amount of 50,000 pounds in the event City Index becomes insolvent and is unable to meet its contractual obligations.
City Index Trading Platforms
To cater to their diverse clientele base, City Index has made available several types of trading platforms. The mainstay of City Index’s trading platform is the “Advantage Web”.
As a web-based trading platform, The Advantage Web doesn’t require any software download or installation. It features a fully customizable layout which you can tailor fit to your preference. Or you can choose from one of the 9 pre-built workspace screens. The platform also supports One-click trading and personalized watchlists. With the watchlist feature, you can create multiple watchlists with a heatmap view to help you keep track of the markets. The platform uses HTML 5 charts and comes with more than 80 different types of technical indicators which you can overlay over your charts. It also comes with several risk management tools which you can utilize to help you minimize your trading risk.
Apart from the Advantage Web trading platform, City Index has also provided its clients with more advanced platforms such as the AT Pro and MetaTrader 4 platforms.
AT Pro Platform
For experienced traders who want a platform with more functionality, the AT Pro platform has all the advanced features which they need. It supports trading signals which can display in a clear manner all the possible entry and exit points for a trade. It also allows for backtesting to how your trading strategies perform against historical data. Finally, it lets you create your own trading templates with the AT Pro’s Development Studio.
MetaTrader 4 Platform
The MetaTrader 4 platform is the most widely used trading platform in the forex trading industry. It comes with a comprehensive charting package and a wide selection of technical indicators. Its user interface is highly customizable and can be set to your preferred language. It also supports different types of market orders and automated trading.
City Index Mobile Trading
For traders who are unable to trade from their desktop terminals, City Index has also made available the Advantage Mobile Trading App which they can install on their smartphones. The app is available free of charge and can easily be downloaded from Google Play store or Apple App Store. Once installed on their smartphones, traders can check their account status, keep watch of new developments in the markets and trade the markets directly from their smartphones.
City Index Trade Types/Instruments
At City Index, you have the choice to trade in the spot market, CFD market or spread bet if you are a UK resident. The range of instruments covered by City Index includes the following:
12 types of Bonds
21 Market Indices
4500+ global shares
5 types of metals
84 currency pairs
Options on 3 interest rate markets
City Index Account Types
There are 3 types of accounts being offered by City Index, Standard account, VIP account and 2 Demo accounts. The standard account requires a minimum deposit of $100 to open and can be used for trading forex, CFDs and spread betting. As for the VIP account, City Index does not specify a minimum deposit requirement. It is only available through invitation and where the eligibility is determined by the City Index VIP team. Naturally, it comes with a wide range of benefits and preferential perks which are not found in the standard account.
Apart from the live trading account,
City Index also offers 2 types of demo accounts. The demo account has a 2 weeks validity and is provided free of charge. The first type of demo account is the City Index demo account. It allows for unlimited access to the trading platform and is preloaded with a virtual balance of £2,500. The second type of demo account is the MT4 demo account. This account comes preloaded with $10,000 virtual cash and allows you to access the forex market. The validity of this platform is longer, at 4 weeks. City Index Commissions & Spreads
For spread betting and CFDs trading, City Index does not charge a commission. For equity CFDs however, there is a minimum commission of $25. As for forex, you can trade the benchmark EUR/USD for as low as 0.5 points. The following table below shows some of the typical spreads which you can expect from City Index.
0.5% (1 point fixed)
0.5% (1.6 point fixed)
0.5% (1 point fixed)
City Index Deposits & Withdrawals Options
City Index currently supports 3 main types of payment methods. They include the following:
Bank Wire Transfer
There is no fee for making a deposit but traders should note that Citibank cards cannot be used to fund any spread betting accounts.
As for withdrawals, you can use the same method that you used to make your initial deposit. It should be noted that the minimum withdrawal amount is £50 and the maximum £20,000. If you are withdrawing from your credit card, the maximum daily limit is £20,000 per 24 hours.
Withdrawal completion time depends on the bank processing the withdrawal payment. Normally, it will require 3 to 5 working days for international withdrawals and 1 to 2 working days for domestic withdrawals.
City Index Bonus & Promotions
At present, City Index does not offer any kind of bonuses or promotional offers.
City Index Customer Support
The customer support service at City Index is provided through email, live chat or the telephone. Alternatively, you can also request a call-back by leaving a message on their website through the web contact form on the contact page.
City Index has also provided beginner traders with a comprehensive educational resource section which they can access to learn about the intricacies of online trading.
Comprehensive educational library
Low deposit requirement
Multiple choices of trading platforms
Wide range of instruments
No Bonuses or promotional offers
Limited localized support
City Index Q&A
Yes, City Index is a regulated broker is several jurisdictions. It is regulated by the FCA, ASIC, UAE Central Bank and MAS.
Where is City Index based?
City Index is based in London U.K. However, the broker maintains a satellite office in several major cities around the world.
How does City Index make money?
City Index makes its money through the commission and spreads that it charges to traders on the trades that they made.
How to deposit in City Index account?
Funding of a City Index account is by bank wire transfer, debit card or credit card.
How to withdraw money from City Index?
Withdrawal of funds from City Index can be done through bank wire transfer, debit card and credit cards.
How to open an account with City Index?
To open an account at City Index, you need to complete the registration form and submit it with all the required documentation.
Yes, City Index is a reliable broker. It has been operational for more than 30 years.
Does City Index use MetaTrader?
Yes. City Index uses the MetaTrader 4 platform as well.
What is City Index’s leverage?
The maximum leverage offered by City Index is 1:500.
No, City Index is not a scam. It is a subsidiary of an NYSE listed company.
City Index is a safe broker as the broker operates with full transparency and regulatory oversight from several regulatory agencies.
From our review, we find that
City Index has provided its clients with all the tools that they need to start trading on the right footing. They have a wide range of instruments for you to choose from as well different types of trading platforms to suit your particular skill level.