City Index Review
City Index is a one of the world’s leading trading brokers, established in 1983 and headquartered in the UK with over 150,000 traders worldwide using their services. They have over 35 years of experience with fast and reliable trade execution speeds, award winning platforms and technology across multiple devices. They offer over 12,000 markets to trade including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, Spread Betting, CFDs & ETFs.
City Index are committed to offering industry leading trading services with fair and transparent pricing, risk management, excellent customer support, whilst giving clients peace of mind by being authorised and regulated by the Financial Conduct Authority (FCA). They have strict regulation in 8 jurisdictions across the globe. This helps to ensure traders that they are trading with a trusted and reliable broker.
The parent company of City Index is GAIN Capital Holdings Inc (NYSE:GCAP), who are a publicly traded company listed on the New York Stock Exchange and one of the largest retail and institutional trading service providers globally.
Gain Capital must meet and comply to the highest standards of corporate governance, financial reporting and disclosure. Whilst headquartered in New Jersey, USA, they have a presence globally with over 800 staff across North America, Europe and Asia Pacific.
City Index is considered by many as a stable and secure trading broker with the resources to continue offering innovative and industry leading trading standards. This makes them a more favourable choice of broker compared to other brokers who have only been in business a few years and do not have the financial backing or long-term success that City Index has.
They have great financial strength (GAIN Capital have over $1 billion in total assets according to GCAP financial data) with a proven track record of delivering superior trading conditions to traders worldwide. Financial results are publicly available with full transparency. Forex.com is another trading broker under the GAIN Capital umbrella which further emphasises the size of the company. Please refer to our Forex.com review for more information.
City Index have won numerous awards including best Spread Betting Provider 2019 from the Online Personal Wealth Awards, best CFD Provider, best Mobile application, and best Cryptocurrency Trading Platform at the Online Personal Wealth Awards 2018. They have also won “Best MT4 Broker” at the UK Forex Awards 2017.
Pros / Cons
- Strict regulation
- Negative balance protection
- Advanced trading platforms & tools
- Expert market analysis
- Real-time financial news from Reuters
- Dedicated client relationship manager
- Educational trading academy
- No US clients
- Restricted leverage for EU clients
- Limited deposit / withdrawal methods
- No fixed spreads
City Index Regulation
City Index are regulated in an impressive 8 jurisdictions, including being authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. They are also regulated by the well-respected Australian Securities and Investment Commission (ASIC) and Monetary Authority of Singapore (MAS).
Using a strictly regulated trading broker helps to ensure security of client’s funds. City Index hold client funds in accordance with regulators client money rules. Client’s money is protected by being held in segregated top-tier bank accounts, separate from their own.
City Index clients are also protected by the Financial Services Compensation Scheme (FSCS) and in the event of liquidation, clients may be entitled to compensation of up to £85,000 through this scheme.
City Index Countries
City Index accept traders from all across the world, excluding USA, Canada, Afghanistan, Angola, Belarus, Belgium, Burundi, Central African Republic, Chad, Congo, Cote D’Ivoire, Cuba, Equatorial Guinea, Eritrea, Guinea, France, Guinea-Bissau, Haiti, Hong Kong, Iran, Iraq, Israel, North Korea, Lebanon, Liberia, Libya, Myanmar, New Zealand, Nigeria, Sierra Leone, Somalia, Sudan, Syria, Turkmenistan, Uzbekistan, Venezuela, Western Sahara, Yemen, Zimbabwe.
If you are located in one of the above countries, you may wish to consider Gain Capitals other trading broker provider, Forex.com. They accept traders from across the globe, excluding Singapore, New Zealand, Belarus, Iran, Yemen and some countries from the OFAC list.
City Index Trading Platforms
City Index provide traders with fast, flexible, reliable, award-winning trading platforms and technology across multiple devices, including desktop, web and mobile.
The City Index trading platforms can be customised to suit individual traders needs with over 16 chart types, real time news from Reuters built-in and 80+ technical indicators to assist you with your market analysis. Users can enable one click trading and set maximum slippage on orders. There is a platform for all styles of traders.
The City Index Advantage Web platform features advanced customisable charts with custom indicators, incorporating fast and reliable HTML5 technology. You can configure and personalise multiple workspaces with the ability to switch between workspaces in a single click. It has smart trade tickets that include trade risk management. Stops and limit orders can be placed in points, profit/loss or price. This provides a more convenient method to modify orders. The real-time margin calculator can help to keep your trading decisions under control.
City Index offer mobile trading apps for iOS and Android so that you can access your account wherever you are in the world at any time, from your smartphone or tablet. These apps provide secure 24-hour account access, live charts and pricing with built in Reuters news feed and economic calendar. Using the mobile trading apps, you can place and manage orders on the go.
The downloadable desktop platforms available to use with City Index are AT Pro and the hugely popular MetaTrader 4 (MT4).
AT Pro is designed for advanced traders who need more powerful analysis tools with improved speed and efficiency. It includes a fully customisable layout so that you can build your own personalised trading templates in C#, .NET and Visual Basic or choose from the hundreds of pre-built trading templates.
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.
The MetaTrader 4 (MT4) trading platform is available with a wide range of built in features which are further enhanced by City Index’s service, support and pricing. MT4 is perhaps the most widely used trading platform and considered by many as the most user friendly. Through MT4 you can conduct technical and fundamental chart analysis using the numerous indicators that it incorporates, create your own custom indicators, automate trading systems and much more. MT4 is provided for Windows, Android and iOS platforms. You can trade directly through your MT4 account on all platforms.
City Index Trading Tools
City Index provide a range of tools to encourage traders to improve their trading skills and knowledge. These tools include a selection of order execution types, market intelligence and a powerful research portal to help you identify potential trading opportunities.
The City Index technical analysis research portal will save you time by scanning the markets for chart patterns and trade setups. The fundamental stock analyser shows if a stock is considered overbought or oversold at a glance.
The AT Pro platform has hundreds of trading strategies built in that can be used for trading signals to compliment your own trading plan. Strategies include moving averages cross system, Heikin-Ashi candlesticks reversal system and a MACD fast line/signal line cross system.
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.
The City Index economic calendar is fully customisable and can help to show the possible impact of key news releases to help plan your trading strategies around.
City Index have a global research team that provides expert market analysis to help forecast potential market movements and trading opportunities.
City Index Education
Whatever your level of trading experience is, City Index provide a large amount of educational material to help improve your trading knowledge and skills. This includes educational videos, articles, webinars, tutorials, and practical examples of trading topics.
There is a City Index trading academy with trading guides covering everything from an introduction to the different financial markets to trading strategies and chart analysis. You can learn how to use a trading strategy, how to analyse the charts using technical and fundamental analysis, how to apply risk management to your trades and much more.
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.
City Index Trading Instruments
Through City Index, you can trade on over 12,000 Global markets with a Spread Betting, CFD Trading or MT4 account. Trading instruments include over 80+ FX currency pairs, 20+ Indices, 4,500+ Global Shares, 25+ Global Commodities, Cryptocurrencies including Bitcoin and other markets (Bonds, Options, etc). It can be a good idea to opt for a trading broker who offers so many different markets and trading instruments in case you wish to branch out and diversify your portfolio in the future.
City Index Trading Accounts & Fees
City Index offer a selection of different trading accounts that allow for fast, easy payments and secure withdrawals. If you are primarily looking to trade currency pairs, the Spread Betting and CFD accounts will give you full access to their FX range with spreads from just 0.5 points. City Index accounts tend to have tight spreads, low margin requirements and fast trade execution speeds. Minimum deposit starts from $100.
City Index do not charge any additional commissions on spread betting markets. They also do not charge commissions on CFD or FX markets, with the exception of CFD equities.
Each City Index account will give you access to all trading instruments although to use the AT Pro trading platform, the professional trader account is required. There is an inactivity fee to be aware of if you do not use your account.
City Index also provide 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 “Trader” account is aimed towards both new and experienced retail traders, offering competitive pricing, 24-hour trading support, award winning platforms, news, analysis, education and more. This account includes a risk management feature with negative balance protection so that you never lose more than you deposit and margin close-out as standard.
The “Premium Trader” account is an invitation only private retail account that comes with a priority service. It also has competitive pricing, negative balance protection with the added benefits of a relationship manager, invitations to premium events and dedicated broker assisted dealing.
The more experienced traders who meet certain criteria can apply for the “Professional Trader” account. To qualify as a professional trader, you would need to have made a significant amount of transactions over the past year, have a large portfolio and work experience within the financial sector.
This account includes increased leverage, monthly cash rebates on FX and Indices trades, a credit facility and broker-assisted dealing, lower margin rates, rewards and premium events as well as a dedicated client relationship manager. It is worth noting that there is no negative balance protection on this account.
City Index Customer Service
City Index have some FAQs for help and support whilst the client services team are available 24 hours a day, 5 days a week to answer any particular questions that you may have. Support is available via online chat, phone or email. They offer clients introduction calls, ongoing support and monthly newsletters.
City Index Deposit & Withdrawal
City Index provide deposit and withdrawals via wire transfer and credit card. These are limited options and may not be suitable for those who prefer to use online payment processors such as PayPal, Skrill, Netteller, etc. These processors can be faster and more convenient to some users. You can manage your account easily through their secure funding portal.
Fees may be charged when using certain payment methods. Bank transfers can take a few business days to clear. Accounts can be opened in USD, GBP, EUR, CHF, JPY & NZD. The various different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
City Index Account Opening
It is quick and easy to apply for an account at City Index. You simply choose the account type that you require and complete a short online form. Once that is done, you need to verify your email and upload proof of identification and address. After they have been received and approved, you can then fund your account and commence trading.
City Index Conclusion
City Index is a very robust and well-established trading broker that covers 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 material. The account types offered are flexible enough to suit each individual trader needs, whilst the spreads are very competitive. Regulation is also very strong although the account funding and withdrawal options are limited.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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.