In fact, most brokers, even IG just have a bog standard list of upcoming earnings and economic announcements. But I think you need more from a trading platform these days, especially as when logged into the desktop platform the format is all off. One broker that has absolutely nailed their economic calendar is ThinkMarkets. With TM when you’re logged in you get a really good visualisation of previous data, volatility and most importantly what impact it had on relevant institutions like EURUSD. It’s a great way to see how markets have moved against previous numbers. Honestly, City Index should embed this too as it’s available from Trading Central who they have a deal with anyway.
City index offers retail investors and professional traders hundreds of lessons available at their fingertips. The educational material encompasses a broad range of topics from lessons on how CFDs work and a trading strategy course that is valued at over $5,000. With the MT4 trading platform and no commission trading, we look at what they offer the markets in Australia, The UK, and Singapore. As City Index is an OTC broker they charge customers by widening the spread rather than adding commission after you trade. Overnight financing rates are also inline with what you would expect 2.5% over/under SONIA rates. In our latest awards City Index won “best trading app” in 2024 and “best trader tools” 2023.
Fees
I found City Index to be convenient for depositing and withdrawing from your spread betting account with no additional fees. When spread betting on non-UK stocks, you don’t need to pay currency conversion fees. This is great, as conversions can eat into profits and expose you to currency fluctuations. Instead, all your bets are in GBP, which will certainly simplify your trading and potentially improve your overall returns. City Index offers access to 14 commodity markets, which cover the essentials most traders look for. You have all the main commodities, such as gold, silver, and oil, and even a few less common instruments, like orange juice.
City Index scored well in most review categories, but it does have certain flaws, including confusing fee disclosures, uncompetitive volume discounts, and no secondary insurance coverage. Solid deposit & withdrawal options but no Neteller or Skrill e-wallets. For UK clients, City Index is also a member of the FSCS (Financial Services Compensation Scheme), which means that, if the company is liquidated, some clients might be compensated up to £85,000. City Index are also a primary sponsor of Saracens Rugby Club in the UK, the 5-time Premiership Champions and 3-time European champions. Additionally, the broker is a sponsor of the Sydney Roosters in Australia, a team that has won 15 Rugby League titles.
- Spread betting is possible with City Index and they do have a dedicated spread betting account type which is available to UK and Ireland traders only.
- This comprehensive approach allows us to recommend the best brokers for different experience levels, trading styles and budgets.
- This free browser-based solution provides access to the full range of markets through a fast and reliable software package that does not require a download.
- They provided helpful and detailed answers to my queries, crucial for spread bettors who often need quick, accurate information.
City Index Customer Reviews
The acquisition of City Index by NASDAQ-listed StoneX Group in July 2020 has had little impact on the policies and running of the broker since it was announced. The firm will retain its FCA regulation and the entire range of 13,500+ markets and services. Filippo Ucchino created InvestinGoal, a comparison site and educational portal for the online trading and investing industry.
Charting and Trading tools
- These accounts are designed to comply with Sharia law, avoiding interest charges on overnight positions.
- They use segregated accounts to protect your money and also offer negative balance protection under FCA, and now under ASIC regulation since March 29th, 2021.
- Your limit orders, stops, and positions are displayed on the chart, with the choice to adjust them by dragging lines.
- You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- New clients get a welcome letter with key account information and an introduction to platforms to help you pick the best platform for your needs.
As well as all of the custom indicators, professional charting capabilities, and more, you will have access to the Expert Advisors feature. New clients get a welcome letter with key account information and an introduction to platforms to help you pick the best platform for your needs. That are interested in spread betting can use City Index and trade commission-free. They can use leverage for this product and take both short and long positions. And Australia can use leverage with negative balance protection to prevent balances from going negative. Trading CFDs also requires you to purchase in the asset’s currency, while spread betting is always conducted in GBP.
Free Trading Tools
The tool offers insights into psychological factors, short vs long trades, price patterns and more. CFD trading is one of the most popular forms of financial speculation due to its high leverage capabilities and lack of underlying asset delivery. City Index recently changed all their daily cash bets to DFBs (Daily Funded Bets) which automatically rollover (for a charge) similar to forex markets. This means that the daily rolling trades are rolled over from day to day with no P+L being crystalised although a financing fee will be incurred for overnight positions.
City Index Market Intelligence Tools
The parent company of City Index is GAIN Capital Holdings Inc., which is on the New York Stock Exchange as GCAP. This is among the largest institutional and retail trading providers worldwide and was founded in 1999. Additionally, GAIN Capital has earned a strong track record for providing institutional and retail customers with trading services. The fact that GAIN Capital is a publicly listed company on the New York Stock Exchange provides traders with extra confidence. This is enhanced by the fact that GAIN Capital is regulated in eight different jurisdictions around the world. GAIN Capital also consistently meets the highest standards for corporate governance, disclosure, and financial reporting.
The FCA is known for its stringent regulatory framework, which achieves some of the best financial and client protection found anywhere in the world. The level of detail provided by Trading Central can help you learn what to look for and how to spot high-potential bet setups. Additionally, the tools calculate stop loss and take profit order levels for you, so you won’t have to second guess when to cut your losses or exit for a profit with the signals. “The spreads are strong across the board, starting from 0.50 points on gold and 1 point on indices like the FTSE 100”, Ross said. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
There is also risk management on each trade you place, competitive pricing, and the knowledge that you will never lose more money than your deposit. We note, that this integration is only available for Australian traders at this time. City Index offers spread betting as an option for trading in the United Kingdom. Spread betting is similar to CFD trading in that it is a form of margin trading and most of the same instruments are available with the same leverage. 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.
Top stories, top movers, and trade ideas delivered to your inbox every weekday before and after the market closes. If you don’t know how these platforms compare to third-party platforms, we’ve also compiled a guide to help you understand and select the best options for you. As for educational resources, while a bit basic in delivery, the trading courses cover the key topics well. I believe you will find these really helpful if you are just starting out.
Clients can purchase metal bullion like gold or silver bars and rare coins through a collaboration with CoinInvest. Historically, these assets have provided a haven for wealth through turbulent economic periods. As a result, many experts believe that diversification into precious city index review metals is an essential part of any portfolio. Orders can bet set ‘Good until End of day (GFD)’, ‘Good until Cancelled (GTC)’ or ‘Good until Time (GTT)’. Guaranteed Stops on UK 100 stocks and indices are also available for an additional fee. Other ways to deposit without incurring fees consist of Maestro Cards, BACS, CHAPS, or cheques.
Premium Trader Accounts
73.6% of retail investor accounts lose money when trading spread bets and CFDs. Andy began his trading journey over 24 years ago while in graduate school, sparked by a Christmas gift of investing money and a book. From his first stock purchase to exploring advanced instruments like spread betting and CFDs, he has always sought to expand his understanding of the markets.
Pre-market and after-hours trading is also available on a selection of US stocks. Headquartered in London, City Index is today part of the StoneX Group Inc., a global financial services provider listed on the NASDAQ stock exchange. City Index is is regulated by the Financial Conduct Authority in the UK, The Australian Services and Investment Commission in Australia and Monetary Authority of Singapore (MAS) in Singapore. This can allow you to download and implement your own auto trading strategies, or import them from the wide community, and is a very popular feature among MT4 traders. On the platform, you can trade more than 80 Forex pairs, including majors, minors, and exotic pairs offered by City Index. The broker makes available several key tools to help you with risk management.