City Index’s spread start at 0.5 for EUR/USD pairs, and you can trade major indices with spreads starting from 0.3 points. The City Index range of markets includes the ability to trade up to 13,500 global markets, including commodities, forex, share CFDs, indices and more. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry.
Special Features
The broker offers a demo account, allowing you to practice risk-free with virtual funds, although this is limited to 12 weeks. City Index’s demo accounts are excellent for experiencing the broker’s two trading environments without risking real money. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms. Traders can use an abundance of high-quality charting tools and around 80 indicators.
Options give traders just that—an option—to buy or sell an underlying asset at an agreed-upon price on a certain date. City Index is a brokerage that specializes in CFD trading, spread betting, and Forex trading. Investing in CFDs involves making price bets as to whether the opening and closing prices of an underlying asset or security will rise city index review or fall.
These tools make analyzing trades more streamlined, reducing the need to rely on external software for technical analysis. In indices trading, major indices like the FTSE-100 and Dow Jones 30 have spreads starting from 0.4 points, which is competitive. On the downside, unlike AvaTrade, eToro and Pepperstone, City Index does not provide passive investment options such as real stocks or an in-house copy trading service.
City Index Account Opening & Verification
- In this City Index review, we dive into the investment products, fees, resources, and everything else you need to know if this platform is right for you.
- Initially focusing on spread betting, City Index expanded its services from the early 2000s, acquiring several other brokerage businesses and establishing international offices in Asia and Australia.
- There are different account types available at City Index, each of which is perfect for different experience levels and trading preferences.
- Its in-house written materials are high quality, and market coverage is diverse.
- For example, the average spread for EUR/USD is around 0.74 pips, aligning with industry standards.
Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. Compare the markets and instruments offered by City Index and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
Compare Best Brokers
- Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website.
- City Index offers Spread Betting as well as CFD accounts, while Forex trading on the MT4 platform is singled out as a separate account option.
- No minimum deposit is needed to open an account in the United Kingdom, but clients from two other supported jurisdictions, Australia and Singapore, will have to deposit at least $150.
- AT Pro, the proprietary trading platform of City Index is an excellent gateway to financial markets.
DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing.
It also remains at the core of extensive fundamental analysis, including a What-If analysis for EPS forecasts. Global data is streamed directly to AT Pro, and company metrics are well-presented. SMS trading signals are also supported, ensuring traders never miss a profitable opportunity. Forex traders can gain access to forex markets through spread betting, CFDs and foreign exchange spot transactions. City Index has built an impressive research portal, with in-house analysts providing daily market outlooks and updates through a tag-based news page that’s full of fundamental and technical reports. The company also posts regular news and analysts videos on YouTube, as well as on its site.
City Index Broker Trading Platforms
Each platform has its strengths, so it’s worth exploring them to find the one that best fits your trading style and needs. Increasing the availability of multilingual support would cater to a more diverse client base, enhancing accessibility for non-English speakers. Furthermore, news headlines from third-party Reuters help you stay on top of breaking news, and integrating an economic calendar allows you to anticipate market-impacting events. There’s also a relatively high monthly inactivity fee of £12 (or equivalent) that may apply if your account remains inactive for 12 consecutive months.
By clicking in the “Training” tab on their website you can take a look at their educational content. City Index is regulated by the FCA in the UK, ASIC in Australia, and MAS in Singapore, making it one of the most secure brokers. Further adding to its credibility, City Index is owned by StoneX Group, a publicly traded financial services firm listed on NASDAQ. Furthermore, the broker achieves an added layer of security by holding client funds in segregated accounts.
Spreads start from 80 points but given the highly volatile nature of the cryptocurrency markets, they can fluctuate quite largely and rapidly. Ultimately, each trader must weigh the pros and cons themselves and choose what is right for them. Use the calculator below to compare City Index’s trading costs with competitors such as Pepperstone, Eightcap and CMC Markets, adjusting for trade size, currency pair, and base currency. Spreads are as low as 0.5 pips for currency pairs and 1.0 points on indices.
Customer Support
The primary regulator of Gain Capital UK, the owner of City Index, is the Financial Conduct Authority (FCA). Client funds remain fully segregated, and traders are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. Other meaningful regulators include the Australian Securities and Investment Commission (ASIC) and the Monetary Authority of Singapore (MAS). City Index is one of the most transparent brokerages in the industry and a stellar example of a well-executed company. The FSCSS holds client funds in segregated accounts and there is a deposit compensation scheme available in the U.K.
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. The material can be accessed on the structured “Courses” page, which bundles lessons on a specific subject into a course, or on the unstructured “Lessons” page, which just lists all lessons available. Each lesson features written and, in rare cases, video explanations of the material, and a quiz at the end. Additionally, the company’s YouTube channel features several playlists educating viewers on topics such as fundamental and technical analysis, and trading strategies. City Index knows the importance of trading platforms in the overall trading experience.
The platform also offers Performance Analytics, designed to help traders set up a trading plan, track their executions, and review trades. The feature that stands out most, however, is Trading Central – an advanced, AI-based research and idea generation tool. Overall, City Index offers an all-around solid desktop trading experience, even if it lacks a downloadable platform.
To get some of these features, you will need to be using the City Index Trading Platform. 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. We tested the Execution Speeds and the account opening process for various forex brokers and scored City Index 8 out of 15. While a dedicated account manager was automatically assigned, the account opening process took days, and establishing an MT4 account required intervention from the account manager.
Our over 15 years of experience in financial markets and high technical knowledge aid in precise and timely identifications. Our independence from brokers and the companies we introduce, our commitment to maximum transparency, and our extensive experience in financial markets contribute to our ranking criteria. City Index has garnered strong trust scores and positive reviews across various platforms. This broker received a 4.1 trust score from over 300 reviews on the Trustpilot website. The general consensus among reviewers is that City Index is a reliable and well-regulated broker with competitive offerings. City Index broker also offers bonds, ETFs, interest rates, and futures trading on various instruments.