City Index is also part of the group that own Forex.com which offers forex trading in America. Yes, City Index does allow scalping and hedging strategies for traders. Additionally, automated trading strategies are also permitted which in our view, positions City Index well for high-frequency and quant-style traders.
Competitive, fixed spreads
The matter was resolved following an update requirement for the OP System for my computer. Have just started using the City Index app and it works perfectly which is good news because now I can go out and get some fresh air. Chris Gordon looks after my account and he is always very affable and helpful.
Latest market research
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). Deposits on City Index CFD accounts start from as little as $150 (although $2,000 is their recommendation) and there are no funding costs with most methods. In trading, the spread is the difference between the buy and sell prices quoted on a market. For instance, if the DAX has a buy price of 15,904 and a sell price of 15,900, then it has a four-point spread. Receive all the latest market news and expert commentary direct from Reuters in-app.
Is City Index a Worthwhile Platform?
It is important to note that between 74-89% of retail investors lose money when trading CFDs. These products may not be suitable for everyone, and it is crucial that you fully comprehend the risks involved. Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the city index review potential risk of losing your money. As an FCA regulated broker, City Index users have access to the financial services compensation scheme, which protects funds for up to £85,000 in the event of platform liquidation. Additionally, client funds are held in segregated bank accounts and not used to hedge positions.
City Index Demo Account
The minimum deposit is just $100 or you can trade with virtual funds on a demo account free of charge. Whether you are new to trading or a seasoned pro, I think City Index are one of the best brokers to meet the demands of most traders. Overall, City Index are a very professional and well-established trading broker that is regulated in multiple jurisdictions and cover a huge range of trading instruments across multiple markets. They offer some of the most advanced trading platforms and tools whilst having an abundance of educational materials for traders of all experience levels.
Client Support
On the other hand, Forex.com is one of the few options for forex traders in the USA. There are two trading platforms to choose from for City Index clients and several mobile app offerings for on-the-go access to the markets. 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’s spread start at 0.5 for EUR/USD pairs, and you can trade major indices with spreads starting from 0.3 points.
Based on our research on the regulatory status of over 60 brokers, we’ve found that City Index holds 7 global Tier-1 licenses, while Spreadex holds 1. We provide broker reviews and ratings to help users find a suitable broker according to their own needs. However, you must do your own due diligence and make your own decisions when choosing a broker. This compensation should not be seen as an endorsement or recommendation, nor shall it bias our broker reviews. Any rates, terms, products and services on third-party websites are subject to change without notice. The City Index’s own mobile trading platform is very well designed and user-friendly.
City Index is a one of the world’s leading trading brokers offering thousands of financial instruments to traders worldwide. They have many years of experience, offering fast and reliable trade execution speeds, tight spreads and award-winning trading platforms. This helps to ensure traders that they are trading with a trusted and reliable broker. City Index are one of the world’s leading trading brokers, established in 1983 and headquartered in the UK with traders worldwide using their services.
City Index does NOT offer CFDs to traders from, United States, Brazil, Belgium, Hong Kong, and Japan, where CFDs are not permitted by law. Based on which country you live in, City Index may refer you to their sister platform, Forex.com to open a forex account. City Index is a Financial Conduct Authority (FCA) regulated broker with global operations, most notably in the UK, Australia, Singapore, and the United Arab Emirates. No, the FCA has banned retail derivatives brokers in the UK from offering welcome bonuses.
Overall, the broker has a comprehensive range of research resources at your disposal. 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’. Traders can access a great selection of over 12,000 markets via a single powerful desktop platform when dealing with Forex, Indices, Shares, and Commodities. In addition, City Index provides a wide range of accessibility for traders through the Web Trader, Mobile Trading App, and the ever-popular MetaTrader platforms.
If the price falls in your favour while your order is being processed, City Index will execute it at the lower price. Steven Hatzakis is the Global Director of 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. Marko has been working on the road for over 5 years, and is currently based in Europe. Alongside writing and editing, Marko works on projects related to online technology and digital marketing. Here are some frequently asked questions that traders and to-be traders often ask about City Index.
- City Index’s proprietary Web Trader platform delivers a rich trading experience while providing access to City Index’s full product offering.
- The standard MT4 platform is also available for traders to use on their web browsers using WebTrader.
- The demo account is separate from the live platform, and traders can’t toggle back and forth between the two platforms.
And like CFD trading, when spread betting, there are no commission costs. Like with CFD traders, you will be able to use a guaranteed stop loss when using the City Index trading platform. These allow spread bettors 24-hour access to live prices on thousands of markets worldwide. You can use City Index’s iphone application to check the latest https://forexbroker-listing.com/ prices or place new trades and close positions. You can also use it to amend existing orders or add stops or limits including if done and OCO (one cancels other) in the same way that you can with the desktop version. Or you can check and amend multiple watchlists while monitoring your positions using CityIndex’s positions chart.
Disappointingly, login is not protected by two-factor authentication for the UK brokerage, even though the Singapore sister platform supports 2FA. A separate login is used for MT4, which adds an extra layer of protection for account access. When maintaining CFD positions past market hours, overnight charges may apply. The broker’s financing charge stands at SONIA plus 2.5% for long trades or minus 2.5% for short positions. Trading platform reviews of the City Index mobile app are primarily positive, with most clients reporting no or few problems. Commodities provide an alternative vehicle for investment, with inflation and global supply and demand primarily affecting value.
For compliance purposes, City Index must transfer your funds back to the original source you used to fund your account. This account needs to be in the same name as the account maintained with City Index. Traders who fall below the City Index margin requirements risk receiving a margin call and having their position closed prematurely.