City Index is not merely focused on their excellent trading conditions but also on promoting financial education and training so that users have what they need to make informed decisions. Our UK team takes a methodical approach to reviewing online brokers. Our experts also factor in their hands-on testing experience into broker ratings. Real-time financial news from Reuters provides you with data and market reports directly into all trading platforms and apps. This is a great way to keep up to date with the latest market news and to assist with fundamental analysis.
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With over 16 chart types, real-time news from Reuters, and 80+ technical indicators, the City Index trading platforms can be customized to suit individual traders’ needs. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity city index review or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. The CFD offerings for UK clients include 65 currency pairs, 21 global indices, more than 4,500 global shares, more than 25 global commodities, and cryptocurrencies. There is also access to more than 45 other markets, including interest rates, bonds, metals, and options.
Offering of investments
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. The broker also provides users with demo accounts if you would like to test the different trading platforms and conditions before opening a real account. Do keep in mind that factors such as slippage and spreads can vary from demo to real accounts.
- The online platform has smart trade tickets that include trade risk management.
- The minimum deposit starts from $100 which should be achievable if you are looking for a quality broker.
- We are glad to hear that you had such a positive experience with one of our onboarding specialists.
- These upgrades, on top of an already well-proven system, give this version of the MT4 platform versatile function while keeping it relatively user-friendly.
Commission and Fees
Yes, based on our data matrix, testing, analysis and the fact they are regulated by the FCA City Index is a good broker. You can buy over 4,700 stocks on City Index as a CFD or financial spread bet, however, you can’t trade equity options or invest in physical shares. Whilst voice brokerage still forms part of City Index’s offering, they are, as with everyone else, doing the majority of their business online and working hard to make their platform stand out.
What Account Types are Available with City Index
As mentioned above, the company also lets you trade digital currencies via CFDs. This allows clients to take advantage of the market’s volatility without directly owning any digital coins. City Index support team are available 24/5 via online chat, telephone and email. I think they could improve by providing 24/7 support like competitors such as Plus500 do.
Trading App
Spread betting brokers are popular in the United Kingdom as there are no capital gains taxes, which means more profits. On City Index, the standard MT4 platform is upgraded with variable forex pricing and access to all of City Index’s market analytics. These upgrades, on top of an already well-proven system, give this version of the MT4 platform versatile function while keeping it relatively user-friendly.
Their system is easy to use and intuitive, and you don't have to just through hoops to get what you want. The only thing is I don't like that I'd have to wait https://forexbroker-listing.com/ up to 2 days to their APIs from the support team. What's needed should be available on a separate tab for those who need it, and ignored by those who don't.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk.
In the case of withdrawals, your amount will be returned to the source you used to transfer the funds in the account. So, for example, if you have used the debit card to fund the account, you will receive the amount back in the same debit card. There are no welcome bonus offers available from City Index due to its FCA regulation.
The button is located at the top right-hand side of the menu on the web trader. City Index doesn’t have specific criteria to qualify new traders but aims to ensure some competence and understanding due to the risks involved. Speculating on interest rates at City Index is based on fixed spreads.
AT Pro has an advanced charting package with over 100+ indicators and a vast range of drawing tools for your market analysis. There is a back testing excel tool that allows you to test trading signals performance over historical data. It also has a customisable economic calendar, real-time news from Reuters and analysis portal that automatically scans the markets for chart patterns based on technical and fundamental analysis. This can save time from manually researching the market and present potential trading opportunities. Moreover, the broker offers a closer look at their trading platforms by using a demo account, which is absolutely free for 12 weeks.
It is worth noting that there is no negative balance protection on this account. You can also keep on top of the latest market news with City Index’s expert analysis. They even provide clients with an experienced relationship manager for insight and trading support.
In addition to the MT4 app, City Index has developed its own proprietary Android and iPhone app. The mobile application retains many of the features of the Web Trader platform, with over 60 built-in and customisable indicators. Clients can set custom price alerts, create asset watchlists and monitor the data feed in real-time on live price charts powered by TradingView. 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 never has down time on their live platform, and they do inform clients when maintenance will be performed. Their spread cost is very reasonable and the order execution immediate.
Clients with a forgotten username or password can also reset their login using their email. Importantly, live accounts are split between Standard, DMA and Professional trading solutions. In addition, City Index offers a self-invested personal pension (SIPP) account for UK investors who wish to speculate with their pension funds, though this is only available upon request.
One example of how they are populating their platform with new trader tools is SMART Signals. City Index clients can also join the exclusive trader development program if they want to learn from an ex-Goldman Sachs professional trader. The program is run by Tony Sycamore from TECHFX TRADERS, who has over 20 years of trading experience. It’s important to point out, however, that traders do not buy contracts of the underlying instruments. Instead of contracts, clients are betting on the price movements of the financial asset.
Ultimately, each trader must weigh the pros and cons themselves and choose what is right for them. City Index offers MetaTrader4 and their proprietary City Index Desktop and WebTrader.