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. No fixed minimum deposit is required, making it flexible for traders of all experience levels to get started. City Index offers strong, multi-tiered support with convenient access through live chat, phone, and email. The 24/5 availability and wide FAQ coverage ensure you’ll receive timely, clear guidance – whether you’re troubleshooting a platform issue or managing your account.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Across its offices in Europe and the Asia-Pacific region, City Index provides access to a variety of global markets, as well as over 80 forex pairs and over 13,500 CFDs on its flagship web and mobile app. While neither City Index and FOREX.com offers cTrader, FOREX.com, on the other hand, offers TradingView, these feature provide proprietary platforms with advanced charting and analysis tools. As we review FOREX.com and City Index, we can verify that both brokers offer features and platforms that every trader needs. Traders are spoiled for choice when it comes to educational materials, from webinars and video tutorials to risk management tools and trading guides.
Deposits
Available in the broker’s proprietary platform, the tool utilizes years of historical data to scan the markets. This allows me to tap into potential opportunities without having to do all the legwork myself. Unfortunately, City Index does not offer a swap-free account, so we recommend that Islamic traders consider an alternative like Pepperstone. Any reliance you place on such information is strictly at your own risk. City Index uses 256-bit encryption, two-factor authentication (2FA), and regular cybersecurity audits to safeguard personal and financial information.
Money Protection
The platform offers a wide range of Forex pairs, CFDs, indices, and commodities, providing traders with ample opportunities across different markets. City Index offers trading platforms and tools designed to suit different trading styles and preferences. The City Index Web Trader is a versatile, user-friendly platform that provides seamless access to a wide range of markets.
All of these instruments offer deep liquidity and high daily trading volume. Spreads range from 0.3 to 40 points, with margins of 5% for gold and 10% for the remaining metal markets. These instruments are often considered safe havens for city index review investors, especially during periods of heightened volatility. Their prices are driven by various factors, including supply, demand, and geopolitical risk.
You may download thousands of free customisable indicators, scripts, and EAs in addition to the hundreds of built-in tools. In addition, there is a significant online MetaTrader community where users from all around the world discuss trading tools, methods, and signals. Other reputable Australian forex brokers which offer these types of strategies include IC Markets and Pepperstone, which both benefit from some of the lowest spreads in the forex industry.
Does City Index Have Research And Education Services?
They also provide for a good range of market news so you can be aware of the latest developments. There are separate phone numbers on which you can contact the broker support team. At the moment, City Index does not provide any features for Social-Copy trading although this could always change in the future. The performance analytics feature can help you in analyzing your trading history and provides insight based on three elements.
Those looking for versatile short-term opportunities can trade the price fluctuations in interest rates. City Index offers competitive spreads, giving traders the option to go long or short on these markets. City Index is a high-calibre provider of spread betting and contracts for difference trading, based in the United Kingdom. Founded in 1983, the company boasts more than 35 years of experience in the field, which alone is quite impressive. Its platform is preferred by traders for its fast and highly reliable service.
The 12-week demo account, $0 minimum deposit and low fees mean beginners can start trading easily. There are also plenty of educational resources available to help beginners learn through the Academy. City Index is ideal for UK traders prioritising safety, regulatory oversight, and broad market access. Beginners, active traders, and spread betting enthusiasts benefit from its intuitive platforms, robust analytics, and segregated account protections. The City Index mobile app mirrors WebTrader’s functionality, providing full account access, live charts, custom watchlists, alerts, and order management.
Up to three debit or credit cards can be used for an account across Visa and MasterCard. When transferring funds from an Australian bank, no deposit fees are charged, and there are no charges for funding through a bank transfer when the account is based in Australia. When setting up the account, we found the opening process to be easy and straightforward. City Index offers a multi-currency deposit solution and can accommodate 9 base currencies (EUR, GBP, USD, CHF, HUF, AUD, CHF, JPY, PLN). The standard MT4 platform is also available for traders to use on their web browsers using WebTrader. The CompareForexBrokers team created a trading platform selector so you can work out what trading software best matches your trading needs.
This practice involves multiple short-term positions, each with small profit margins. Scalpers may make multiple trades over the course of a day and don’t leave positions open over night. 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.
Key Features of City Index
- This means, for example, if you deposited with a debit card, you may only withdraw back to that same card.
- Magin and leverage limits with this account type remain the same as the other accounts.
- Traders benefit from variable spreads starting as low as 0.5 points and enjoy commission-free trading on most assets.
- City Index provides traders with access to competitive spreads, with various platform options like the Web Trader, MT4, and integration with TradingView, allowing for flexibility in trading strategies.
- For those who prefer a more established platform, MT4 is also available, offering robust trading capabilities, automated trading via EAs, and advanced charting features.
- Keep in mind that if you are a complete beginner, the broker might refuse to let you sign up for a live account.
Spreads start from 80 points but given the highly volatile nature of the cryptocurrency markets, they can fluctuate quite largely and rapidly. Lastly, City Index operates in Singapore and is registered as StoneX Financial Pte. In Singapore, the broker is regulated by the Monetary Authority of Singapore (MAS) and accepts clients across most of Asia. To help prevent negative balance protection from needing to be activated, a margin call system is also used.
Customer Support at City Index
WebTrader is intuitive and powerful, offering integrated charts, over 80 technical indicators, and real-time market data. Users can manage orders, set alerts, and access research tools seamlessly. Its interface is ideal for traders seeking simplicity without sacrificing functionality. Traders can access forex, indices, shares, commodities, and precious metals through CFDs or spread betting. Over 13,500 markets are available, offering both short-term trading and long-term investment opportunities, along with tax-free options for UK spread betting accounts. City Index has been operating since 1983, providing decades of experience in trading CFDs, forex, and spread betting.
- Full-time and professional traders may be forced to look elsewhere due to uncompetitive volume and margin discounts, and lack of advanced functionality such as connectivity through VPS and API interfaces.
- Ultimately, each trader must weigh the pros and cons themselves and choose what is right for them.
- From beginner to advanced traders, you can explore expertly structured lessons, webinars, and glossaries to sharpen your market knowledge.
- He has Finance degree at Monash University and is an investor in shares and equities and successfully started and sold the online business Hearing Choices.
- You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The order interface looks identical to the web programs, allowing adequate risk management while on-the-go. In conclusion, City Index is undeniably one of the best CFD trading platforms and Forex brokers available today. With robust regulatory supervision, an extensive range of assets, user-friendly applications, and educational resources, it covers traders’ needs from all walks of life. However, the MT4 account offers more competitive spreads from 0.5 pips compared to the 0.8 pips in the Standard solution, as well as access to the industry’s leading forex platform – MetaTrader 4. My only real complaint with the MT4 account is that you can only access 300 of the 13,500 markets available on the Standard account, though there is still a good range of currency pairs. City Index is an award-winning forex broker with 80+ currency pairs and no minimum deposit.
This wealth of information is invaluable for both newbies and experienced traders looking to refine their approaches. Founded in 2014 and acquired in 2021, BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. With over 60 brokers reviewed, our editorial team has published thousands of words of research to help our readers make informed choices. City Index offers a substantial range of markets with 84 forex pairs and 13,500 tradeable symbols, significantly higher than the industry average of 3,623 symbols. City Index offers competitive spreads in both accounts, as well as low non-trading fees which will help to keep costs down.
Trading at City Index here is what you can expect from the trading platforms and all of the features they have to offer. The broker makes available several key tools to help you with risk management. These are offered through your trading platform for the most part and include the ability to set stop losses to help you exit losing positions, and limit orders to help you lock in profits.
If the broker fails, clients are eligible for compensation of up to £85,000 under this UK scheme. City Index supports multiple deposit methods, including bank wire transfers, Visa and Mastercard credit/debit cards, and PayPal. And certain other regions, PayPal is available with a minimum deposit threshold, typically set at £500. City Index offers a rich educational experience that will satisfy both beginner and intermediate traders.
Fees, Spreads, and Commissions
City Index provides traders with a choice of WebTrader, MT4, TradingView integration, and a mobile app. Platforms are designed for both beginners and professional traders, with advanced charting, custom indicators, and automated trading support. 69% of retail investor accounts lose money when trading CFDs with this provider.