City Index can be suitable for beginners, especially if you’re looking for a user-friendly platform to start trading. The broker offers a demo account, allowing you to practice risk-free with virtual funds, although this is limited to 12 weeks. While City Index’s educational offerings are robust, there is potential for improvement. Expanding the range of advanced courses could cater to more experienced traders seeking to deepen their expertise.
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. City Index however is not without its downside, fees for stock CFDs are on the higher side, and its desktop trading platform could do with some improvement. Our broker reviews are reader supported and we may receive payment when you click on a partner site. 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.
Trade Like a Pro, Backed by One
69% of retail CFD accounts lose money You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. City Index provides a comprehensive trading education suite designed for all experience levels. From beginner to advanced traders, you can explore expertly structured lessons, webinars, and glossaries to sharpen your market knowledge. Learn, practice with a demo, and confidently transition to real-market trading. City Index provides an appealing fee structure with ultra-low spreads and minimal commissions. The pricing model supports both beginner and advanced traders by combining affordability with full transparency across asset classes.
Tools
- Our team of experts studied all the details of trading, using City Index, on various trading platforms, and so we have drawn our own conclusions, of which you can find below.
- Detailed funding instructions are provided within the client portal to help streamline the process.
- You may set up and personalise numerous workplaces and switch between them with a simple click.
- City Index offers a stable, transparent trading environment backed by nearly a century of institutional knowledge through 🇺🇸 StoneX.
- Other research material is well-organized, and many categories are also accessible through the trading platforms.
Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. We work hard to meet expectations like yours, and we are happy to hear we hit the mark for you. We really appreciate you taking the time to leave your review with us. Companies on Trustpilot aren’t allowed to offer incentives or pay to hide reviews. Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. These products may not be suitable for everyone and you should ensure that you understand the risks involved.
What I also like best about this highly customizable charting platform is its 100% synced layouts, watchlists, and settings across desktop and mobile devices. The system then automatically updates the order with the latest price, which saves me a lot of time and reduces errors. Stock (CFD) trading incurs a commission of 0.08%, with £10 for UK shares, €10 for European shares, and $10 USD for US shares. Similarly, StoneX Europe Ltd clients benefit from the Investors Compensation Scheme (ICS) for up to €20,000. Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines. City Index account manager has resolved most of my issues and restored my confidence fully in the City Index service level.
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Online chat is available to new and prospective clients, but users need to “talk” with an annoying chat robot before getting to a human customer representative. The broker accepts support questions through phone, chat, or email, and a fairly strong social media presence is used primarily to distribute research and marketing materials. The help and support FAQs are well-organized, allowing for quick retrieval of needed information. The broker offers fixed spreads for many indexes and commodities and variable spreads for forex and other markets, but this categorization isn’t intuitive.
Account Types
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. Also, £12 monthly fee is charged to accounts with no activity for one year or longer. Other miscellaneous charges are fully disclosed on an easy-to-read pricing page. Minimum and average spreads are fairly competitive, at 0.70 pips minimum and 0.80 pips typical for the EUR/USD currency pair. Indexes list a 0.40 minimum spread on S&P 500 CFD and spread bets, but the broker does not disclose an average spread. Disclosures on many other markets are also limited to minimum spreads or real-time bid/ask spreads.
What types of markets can I trade on City Index?
If you have experience trading with City Index please share your personal review of the broker and what you think are strong and weak points. Compare City Index with the top 3 similar brokers that accept traders from your location. While it’s not a scam, as with any trading platform, it’s essential to understand the risks before trading. Always verify that you’re on the official website and trading within your country’s regulations. City Index operates transparently with these regulatory protections and ensures client funds are safe.
It is also one of the most well-established and reputable brokerage companies operating today. Meet Thadeus, a trading guru, brilliant writer, and financial fanatic with years of expertise in the industry. 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.
You may learn how to employ a trading strategy, how to analyse charts using technical and fundamental analysis, how to manage risk in your trades, and much more. You may also stay up to date on the latest market news by reading City Index’s expert commentary. They even give an experienced relationship manager to customers for insight and trading help.
While you can bet on the same products as you can trade with CFDs, there are some differences to note between CFDs and spread betting. The first is that CFDs quote in pips while when spread betting, the quote is in points. Regardless since these prices are both matched to the same underlying instrument, the price is the same, just to a different decimal. However, at certain times of the day, select financial instruments are fixed.
Is City Index a market maker?
City Index’s parent company is the massive, NASDAQ-traded StoneX Group, Inc. This financial services provider is publicly-traded, so it has to meet high standards of disclosure, reporting, and corporate governance. City Index provides a range of trading platforms to meet the diverse needs of traders, whether they are beginners or professionals. The platforms are designed for easy navigation and offer robust features to enhance trading efficiency.
- Trust Scores range from 1 to 99 (the higher a broker’s rating, the better).
- Scalpers may make multiple trades over the course of a day and don’t leave positions open over night.
- You may learn how to employ a trading strategy, how to analyse charts using technical and fundamental analysis, how to manage risk in your trades, and much more.
- This means you need enough balance in your account across open and closed positions to cover your required margin to hold your position.
- City Index however is not without its downside, fees for stock CFDs are on the higher side, and its desktop trading platform could do with some improvement.
City Index was purchased by GAIN Capital Holding in 2015, and now has $1.2 billion in customer assets, 235,000 accounts, and over $3.1 trillion in total annual trading. City Index offers a variety of options for depositing and withdrawing funds, ensuring that traders can easily manage their accounts and execute trades with flexibility. The platform supports several payment methods, with clear processes in place to ensure smooth transactions. City Index is a highly regulated online trading platform, ensuring the safety of its users’ funds and maintaining a transparent and secure trading environment. Additionally, City Index is a member of the Financial Services Compensation Scheme (FSCS). In the event of liquidation, clients may be compensated up to £85,000 by the FSCS.
One of MetaTrader 4 (MT4)‘s standout features is its support for APIs, which enables automated trading through Expert Advisors (EAs). This functionality is invaluable if you want to execute strategies around the clock without manual intervention. Additionally, Web Trader provides curated market insights from Reuters. This includes in-depth market analysis and detailed information to help me identify opportunities or delve deeper into potential setups. Notably, City Index does not charge for deposits and withdrawals, though the minimum amounts are a little higher than the industry average.
Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. City Index provides top-rated mobile trading applications for both iOS and Android devices. However, some highlight limited career progression and frequent shifts in management focus, which may challenge long‑term growth prospects. No, you don’t but they may ask some question to ensure you understand the risks of CFD trading before accepting you as a client. The trading strategy course is divided into three main sections and is intended to accelerate the learning curve of a novice trader. Traders are able to speculate on a broad array of bonds and interest rates including US T-notes, UK Long Guilts, Euro Bund markets, and Eurodollar and Euribor rates.
To place a spread bet on City Index, you must first open a trading account with the broker. Spread betting and CFD trading are available city index review on options with City Index. 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 or fall. Spread betting is betting on the price movement of an underlying security or asset without actually owning the security or asset.