Contents
Adding value to the Trust factor is the stop-loss protection guaranteed by City Index for a premium. Accounts lose money when this feature is not built into trading platforms leaving retail forex coinbase investors accounts with a high risk of losing money. One of the forex broker reviews also shows that a cutting-edge set of conditional orders exists within their trading platforms.
British traders are eligible to open an account at CityIndex but have to follow the four-step account opening process. CityIndex offers individual, joint, and corporate accounts, but we will focus on opening an individual account. City Index has partnered with a number of financial institutions to provide their clients with Forex, Contract For Difference and spread betting services. Finspreads – Finspreads is a leader in interactive online spread betting starting in 1999 before it was acquired by the Group in 2005.
City Index currently offers a suite of trading platforms which include Advantage Web, AT Pro and MetaTrader 4. In October 2009, City Index launched City Trading, a mobile spread betting application for the iPhone. The innovation contributed to the company’s entire mobile trading offering being named ‘Best Mobile Trading Platform’ at the MoneyAM Online Finance Awards 2010 and 2011. the history of forex City Trading is also available on Blackberry OS6 and Android mobiles, the first spread betting and CFD App for these devices. CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.
Topics include introductions to spread betting, CFD trading and shares, forex, and commodities. Spread betting, as well as CFD trading with the exception of shares, is commission-free for City Index trading investors. The commissions for share CFDs are, however, extremely expensive and minimum charges are costlier than average. The additional spread is added to market rates for spread betting on shares. Spreads on index and forex are tighter than the market average. Forex is not traded on the spot market, and this is another serious drawback.
GAIN Capital Group LLC
Account opening is fast and smooth and a wide range of high-quality research tools are available. Fees, minimum deposit requirements, withdrawal, account opening, research tools and more. We use over 50,000 data points and a consistent, fact-based methodology. Please email our support team with any additional comments and suggestions at
To open a City Index demo, all you need is your name and email address. To open a new account with City Index, you need to fill out our online application form. It usually takes minutes to fill out, and we process most applications almost instantly.
We really liked the search functions of the web trading platform. You can search by typing the name of the product you’re looking for or browsing a categorized product list. It is extremely customizable.It is easy to add, remove, or change the size and position of tabs to create your own unique trading platform.
The average and minimum spread is 0.69 average and 0.50 pips minimum for EUR/USD. Fixed spreads are offered for different commodities and indexes, and variable spreads for certain markets like Forex. For a dormant account without any transactions for a year or more, a £12 fee is levied per month.
Account Log In and Management City Index Australia
Under the Market News & Analysis tab, you will find a section devoted to daily research and fundamental analysis of news events. This is updated frequently by a small team of City Index analysts and covers all the asset classes tradeable at City Index. Articles can be filtered by topic, author, and asset class so finding relevant Forex news and analysis is not difficult. Overall, the range and depth of assets available to trade are impressive and much more than is normally seen at other similar brokers.
In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading. On the positive side, it has low forex fees, a smooth account opening process and high-quality research tools. It opens a chatbot, which can answer only some basic questions, like “How can I deposit?”.
In response to making a negative review my account was closed. It’s 2 weeks now and still no refund but 14 day notice to close account counting down. This is a VERY RISKY company to deal with, not recommended at all. British traders will be trading under the British-based subsidiary, StoneX Financial Ltd, authorised and regulated by the Financial Conduct Authority .
Ratings and Reviews
The parent company of City Index is StoneX Group, and previously it was owned by GAIN Capital. And apart from this, due to the integration of GAIN Capital into the StoneX Group, City Index can deliver an even more comprehensive offering to the customers. Price Improvement – City Index executes orders at a better forex binary options demo account price when the price movement is in your favor during processing. This decreases the risk of losing money and increases the opportunities for marking profits. City Index’s award-winning web browser-based platform Advantage Web has … This trading platform requires Adobe Flash to be installed and enabled.
Authorised and regulated
The City Index mobile trading platform isuser-friendly and well-designed. A bank transfer can take several business days, while payment with a credit/debit card is instant. You can only deposit money from accounts that are in your name. City Index charges no deposit fees.Besides bank transfer, you can use credit/debit cards and PayPal to deposit funds. Once the account base currency is set, you can fund your account only with the same currency.
UK-based City Index is a Forex and Trading Contracts for Difference spread betting provider and a part of StoneX Group under the control of the Financial Conduct Authority. With headquarters in London, the City Index platform has branches in the United Kingdom, Singapore, Dubai, and Australia. The parent company of City Index, StoneX Group Inc., is a U.S-based company listed on the NASDAQ under the ticker symbol “SNEX”. As of 28 February 2021, StoneX migrated GAIN Capital UK Limited into its StoneX Financial Ltd entity. It specializes in options in forex, shares, indexes, commodities, spread betting, CFDs, and interest rates. Log in to your City Index account & trade FX and CFDs today via our full suite of powerful trading platforms.
You will not pay a finance charge on futures trades as they already have the overnight cost built into the price. Financing is a fee that you pay to hold a trading position overnight on leveraged trades. Essentially it is an interest payment to cover the cost of the leverage that you use overnight. CityIndex’s financial instrument offering is impressive, with over 4700 assets available for trading, including 84 Forex pairs, 4500 stock CFDs, indices, commodities, bonds, metals, and interest rates. FXScouts has been the UK’s most trusted Forex broker review site since 2019. Our team has written 100+ broker reviews and we constantly test to maintain accuracy.
Overall, this is a welcome development in an industry where additional fees are charged on almost every transaction. When making this calculation, we used one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread. We may receive compensation when you click on links to products we review. Daniels Trading – Daniels Trading is a futures brokerage firm based in Chicago, United States. The firm was established by Andy Daniels in 1995 and was acquired by GAIN Capital in March 2014.
Deposit Funds
Swap-free accounts are available and there are many options for VIP account holders, not an invitation-only offer like City Index. Under the ICF of CySEC, the investor is protected to the tune of 20,000 Euros by eToro and the minimum deposit is just USD 50, as against larger amounts by City Index. EToro’s software is arguably more robust and flexible than City index’s. Another complete section deals with the all-important CFDs, which are a popular way for investors to open an account and start trading on various financial markets. Go through this section, and you will know why you should be trading CFDs with this provider. To avoid retail investor accounts lose funds with CFDs, this section is significant.
When compared to the AT Pro platform, the desktop version has fewer features. Both City Index and AT Pro have updated ticker tapes from Reuters running continually and help retail investor accounts to be in close touch with business developments. The execution of the trade policy of City Index trading platforms is one of the fastest in this category. One of the forex broker UK – City Index offers the facility of going long and short simultaneously, a wide spectrum of flexible order types, and price improvement technology.
BrokerChooser is free to use for everyone, but earns a commission from some of its partners with no additional cost to you . Check out the current account balance requirements at City Index in our What is the minimum account balance at City Index article. All you need to know about the City Index customer service. Our ultimate guide to the City Index minimum deposit is updated regularly. City Index is a brand of StoneX Group Inc., a US-based investment company. This is important as a strong parent company lowers the chance that the company will go bust.
Once you are done with the deal, you can click the close trade option to exit the trade. MetaTrader – The spreads on the City Index MT4 are similar to EURO/USD given above. City Index has ranked Best in Class in several categories in 2021.
The live account has no minimum deposit and spreads are better than most market makers – from 0.50 pips, averaging at 0.8 pips on major pairs. CityIndex offers only one account type, whereas most brokers will provide at least two or three, but its account is suited to both beginners and more experienced traders. AT Pro is a downloadable, professional trading platform with enhanced functionality. Traders can create their own trading templates in programming languages including C#, .NET and Visual Basic.
CityIndex is a safe broker for British traders to trade with. It maintains regulation from multiple top-tier authorities, including the FCA of the UK, ASIC of Australia, and the MAS of Singapore. CityIndex’s market analysis materials are detailed and well-structured, and much better than what is usually available at other brokers. CityIndex’s trading tools include technical and fundamental analysis by Trading Central, advanced charting powered by TradingView, Reuter’s News, and SMART Signals. The competition took place over six weeks as eight traders competed for a £100,000 cash prize.
All fees and commissions charged are transparent and are elaborated in fine detail on the pricing page. City Index may be a user-friendly spread betting and CFD trading provider, but it’s a dead waste for cryptocurrency traders. There are only 5 options – Bitcoin, Bitcoin Cash, Ripple, Ethereum, and Litecoin. Additionally, competitive platforms like eToro offer as many as 13 cryptocurrencies for traders. Commissions for trading equity CFDs are also expensive, as far as City Index is concerned.