City Index Review

Minimum Deposit: $100 VISIT BROKER
67% of retail investor accounts lose money when trading CFDs with this provider.

City Index Review

Summary

City Index is one of the oldest financial services provider agencies established in Sep 1983 by Chis Hales and Jonathan Sparke. City Index is the subsidiary of GAIN Capital and Belongs to the industry of Financial Services. City Index is based in the UK and provides Spread Betting, Forex, and CFD trading services. City Index has the official right to operate in markets as the Financial Conduct Authority regulates it on its parent company’s name, i.e., “GAIN Capital’. The trader can access 12,000 markets via a single platform when dealing with Forex, Indices, Shares, and Commodities. In addition, the City Index provides a wide range of accessibility for the traders through Web Trader, Mobile Trading App, and Meta Trader. City Index is not merely the trading platform that focuses on their commission only but focuses on promoting financial education and training on FX and Financial Investments.

8Expert Score
City Index Rating

With over 12,000 markets to choose from across Forex, Indices, Shares and Commodities, clients have access to a wide range of global markets. City Index help traders grow, giving them the tools they need to improve their trading skills.

Investment Products
8.5
Commissions and Fees
8
Platforms and Tools
7.5
Research and Education
8
Deposit and Withdrawal
8

City Index Review

Pros and Cons

City Index promotes quick account opening and swift procedures with them. So, if you are a beginner, there is no hassle in opening up an account with City Index. Moreover, they deal with lower trading and non-trading fees. Meanwhile, you will be getting prompt support from your financial manager whenever needed in any case.

Positives
  • Over 12,000 Markets to Choose From
  • Award-winning platform and service
  • Training on Trading Strategies
  • Orders are always filled with almost no slippage
  • News Reporting
  • Good Customer Support
  • Regulated by FCA
  • Separate Client Money Bank Accounts
  • Free of Cost Deposits and Withdrawals
  • Listed on NASDAQ
  • Fast Account Opening
  • Diverse Research Tools
  • Low forex fees
  • User-Friendly MT4 platform
  • Accurate Execution of Trades
  • Negative Balance Protection
  • Financial Strength and Security
Negatives
  • Inactivity Fees
  • No 24/7 Support
  • No US clients
  • No Islamic swap-free accounts

City Index Review

Investment Products

City Index has a great range of over 12,000 instruments. First, they deal with FX with CFDs, and Spread Betting. They allow trading in crypto but only under certain terms and conditions.

City Index Instruments Summary

InstrumentsCity Index
Forex
Stocks
Indices
Commodities
Cryptos
Options
Bonds
ETFs
CFDs
City Index Instruments

City Index Review

Commission and Fees

Commission and Spread Fees

Every broker has its working strategies. City index charges low stock index fees while stock CFD fees aren’t the lowest. However, they charge a little commission on the CFDs of equity which is a minimum 10$ per standard lot per round. Here is the breakdown for your idea:

FeeSpread BettingAccount Type
Commission (per standard lot per side)$0$5
Spreads from0.50.5
City Index Fees

Deposit and Withdrawal Fees

City Index do not charge any deposit or withdrawal fees. However, you may be charged a fee by your bank or other third-party payment provider.

Inactivity Fees

City Index charge an inactivity fee if you do not use your account for 36 months (retail clients) or 12 months (professional clients).

City Index Review

Platforms and Tools

City Index Platforms
City Index Platforms

With City Index, you can conduct trading via Web, Mobile Trading App, and Desktop.

Web Trader

Via Web trading portal, as a trader, you can experience intelligent features and tools to trade the markets. You can have:

  • Modern Day Charts with Customized indicators
  • HTML5 Technology
  • Moldable Workplace

The powerful HTML 5 technology makes sure to optimize your performance. The City Index Web trading platform allows trade through charts with custom indicators. It allows you to draw precise lines and projections as per your strategy. There is a long list of order options available while trading via the web:

  • OCO
  • Stop
  • Trailing Stop
  • Market
  • Limit
  • GTC or Good ’til cancelled
  • GTD or Good ’til the end of the day
  • GTT or Good ’til time
City Index Web Trader Platform
City Index Web Trader Platform

Through Mobile

You may find it a little less secure as the City Index mobile trading platform doesn’t have a two-step verification module. However, it is built keeping modern design under consideration, and it is easy to use.

Via Mobile, you have two options to access City Index:

  • City Index Proprietary
  • MetaTrader 4

The City Index’s own mobile trading platform is very well designed and User friendly. Although it is a bit slower, yet it is convincing to go for the City Index’s own mobile app for beginners as it has a complete tutorial and demo instructions to use the app. A trader can navigate the economic calendar within the app, which you can customize on a higher level.

If you have a biometric mobile, you can set your app to biometric verification, which is very convenient.

There is a search bar in the app to find any trading pair with a type easily. In addition to that, you can place orders of various types like Market, Limit, Stop, Trailing Stop, and OCO. Furthermore, the attractive feature is that you can set an order time limit.

Using City Index’s mobile app, you can easily set alerts and notifications to remain updated with the platform.

City Index Mobile Trading App
City Index Mobile Trading App

MetaTrader 4

MT4 is available for all, no matter if you are a beginner or a trading expert. Its design is user friendly, and it is light to use on Mobile. You can download and install it on any operating system like Linux, Mac, Windows, iOS, and Android. If you are focused on margin trading, MetaTrader 4 could be the right option for you. You can also use MetaTrader 4 to trade CFDs, but it is not fully designed to trade stocks or exchange trade futures. Here are some cool features you can unleash after getting access to MT4

  • History of Trades
  • Interactive Symbol Charts
  • Versatility in Charts
  • 9 Time Frames
  • 30 Popular Indicators
  • 24 Analytical Objects
  • News
  • Free Mobile Chart
  • Full Set of Orders and Trading Functions
  • Bots Compatible
  • Strategy Tester
  • Demo Accounts
  • Price Alerts
City Index MT4 Platforms
City Index MT4 Platforms

Desktop Trading Platforms

For desktop trading, you have two options to proceed with City Index:

  • Advanced Trading Platform
  • MetaTrader 4

The desktop trading platforms are almost the same as those of the web trading platforms.

City Index Platforms Summary

PlatformCity Index
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)x
cTraderx
Proprietary
Desktop
Web
Mobile
Social Tradingx
Other x
City Index Platforms

City Index Review

Research and Education

City Index is a credible source to rely on in terms of learning and education in trading. Even if you are a beginner, you can go to the website and learn from their shared lessons. You may have to compromise the fundamental data on assets, yet the technical data is fully furnished, and you can learn for free. Taking advantage of modern’s day charting tools is your responsibility. Besides this, you can make the decisions from the crux of trading ideas and quality news. They provide trading ideas based on technical analysis. There is a total of 90 technical indicators on City Index to choose from. With City Index, you can keep yourself self-educated via Reuter’s updated financial news. Besides this, they have an analysis report generated by City Index’s research team.

City Index Investing Guides
City Index Investing Guides

In respect of education, City Index never takes its guard back. City Index readily working on your educational skills in the following manner:

City Index Research and Education Summary

ResourcesCity Index
Market Analysis
Guides
Videos
Webinars
Autochartistx
Trading Centralx
Economic Calendar
Other
City Index Resources

City Index Review

Deposit and Withdrawal

Traders can fund their accounts via Debit/Credit cards, Bank Transfers, and electronic wallets. At the same time, the minimum balance requirement that City Index have is $100.

You cannot use city bank cards to fund accounts with any spread providers. However, you can do it using a wire transfer. City Index prohibits direct cash payment in their account. It does not accept third-party payments either. But you are safe if you did so, the amount would be returned to the source if you mistakenly transfer the amount this way.

In withdrawal case, your amount will be returned to the source you used to transfer the funds in the account. So, for example, if you have used the debit card to fund the account, you will receive the amount back in the same debit card.

If you want a Wire Transfer, the city Index will demand from you the bank statement for the last six months. The statement must be in PDF form mention your name, bank name, account number, and residential address. Screenshots are not accepted; however, photographs are acceptable.

City Index Funding Summary

Payment MethodDepositWithdrawal
Wire Transfer
Credit/debit Card
Electronic Wallets
Cryptosxx
City Index Funding Options

City Index Review

Regulation and Safety

For a beginner, it is necessary to do some research on the authenticity of the new platform. Genuineness is judged by some basic parameters like relating authority, the parent company, and the clientage. Besides this, one must also consider the technology being used to protect your funds and wallets. A beginner must also go through the history before starting trading with any platform.

Top-tier authorities back the City Index like the UK’s FCA, Australian Securities and Investments Commission (ASIC), and Singapore’s Monetary Authority (MAS). So major clientage of the City Index is top-notch financial authorities. Besides this, the City Index has been listed on the Stock Exchange, i.e., NASDAQ. City Index also protects you with its negative balance protection scheme.

City Index Regulation Summary

RegulatorCity Index
ASIC (Australia)
IIROC (Canada)x
CySEC (Cyprus)x
SFC (Hong Kong)x
JFSA (Japan)x
MAS (Singapore)
FINMA (Switzerland)x
FCA (UK)
CFTC (USA)x
Otherx
City Index Regulators

City Index Review

Client Support

City Index support team are available 24/5 via online chat, telephone and email.

City Index Review

Conclusion

Seeing the big picture, City Index is one of the reliable partners to work with. Especially for beginners, they have a prudent education system. They will guide you with technical analysis and keep you updated on news of top-notch agencies like Reuters. The funding and withdrawal on account are swift and easy to follow. Once you get to City Index, it will initiate your self-learning phase. Shortly, you will be able to make wise decisions to make your account grow with the various tools.

Everything that you find on InvestingBrokers.com is based on information and data that is readily available from each broker that we have reviewed. We combine our 15+ years of industry experience with research, analysis and user feedback. This enables us to give an impartial and reliable broker rating. You can read more about our broker review process here.

City Index Review

FAQs

When was City Index founded?

City Index was founded in September 1983.

Where is City Index located?

City Index is based in London.

Is City Index regulated?

Yes, City Index is regulated on three tier-1 jurisdictions.

What trading instruments does City Index offer?

City Index offers Spread Betting, CFD Trading, and FX on MT4.

What is the City Index minimum deposit?

To open a City Index FX account, you will have to fund at least $100.

What investing platforms does City Index offer?

City Index offers web browser trading, mobile apps, and FX on MT4.

What is the City Index commission fee?

There is no commission on Spread Betting at City Index. CFD trading is also commission-free. However, they charge a commission on CFD equities.

Does City Index charge an inactivity fee?

Yes, City Index do charge an inactivity fee.

What are City Index’s spreads?

City Index Charge Variable Spreads starting from as low as 0.5 points.

What funding options does City Index offer?

You can use a debit card, credit card, and PayPal and do a bank transfer to fund your City Index account.

Does City Index offer demo trading?

Yes, City Index offers demo accounts for CFD, spread bet, joint CFD, spread bet, and MT4 accounts.

Does City Index offer Islamic accounts?

City Index does not offer Islamic accounts.

How do I contact City Index customer support?

You can contact the City Index support via live chat, email, and phone 24/7.
City Index Review
City Index Review
Minimum Deposit: $100
Richard Montana

Richard Montana

Richard has spent many years researching, testing, comparing and reviewing brokers. He has an extensive knowledge when it comes to understanding what to look for in a broker for trading and investing online.

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