City Index Review 2024: Pros, Cons, & Fees

Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. I had a lot of problems with setting up the correct account type, but James walked me through each and every problem I encountered. James is very professional, personable, helpful plus a few more adjectives all of which made it a pleasure working with him. Other staff just tell me my account is restricted.but they did not solve my problem.

However, you may be charged a fee by your bank or other third-party payment provider. With Chasing Returns’ in-depth Performance Analytics tool, you can track your personal trading performance and find your most productive trading behaviours. Analyze your https://traderoom.info/city-index-forex-broker/ trading tendencies, best and worst deals, top-performing markets, and much more. If you don’t know how these platforms compare to third-party platforms, we’ve also compiled a guide to help you understand and select the best options for you. City Index seems to have matured nicely though, it’s grown out of its lumbering adolescence under the ownership of Gain Capital and is now owned by US Behemoth StoneX (previously INTL FCStone).

Deposit Options and Fees

Overall, City Index can be summarised as a safe broker that is fully regulated by three tier-1 regulators (highest trust score in the industry). The City Index app does such an impressive job of carrying over the functionality of the desktop platforms to a handheld device that it won the ‘Best App 2022’ title at the Shares Awards. Review site Compare Forex Brokers is a fan of the many nice-to-have features offered to City Index clients. In 2014, Michael Spencer, the founder and controlling shareholder of City Index, sold the company for $118 million. The combination created a new global firm with operations in more than 150 countries and annual trading volumes in excess of $3 trillion. In 2014, Michael Spencer, the founder and controlling shareholder of City Index, sold the company to GAIN Capital Holdings for $118 million.

Restricted Countries and Products

It also includes a customizable economic calendar, Reuters real-time news, and an analytical site that automatically monitors the markets for chart patterns based on technical and fundamental research. City Index offer spread betting and CFD trading on forex, indices, shares and fixed-income products. One of their unique selling points is their integrated trading signals on their app and trading platform. Spread betting is City Index’s forte, and it’s the product that a lot of their high-net-worth customers use for trading stocks.

The web version is also great for accessing your account on any device and it is always up to date. This helps to ensure traders that they are trading with a trusted and reliable broker. City Index is an award-winning, multi-asset financial services provider with over 40 years of experience supporting its clients. City Index is one of the worlds leading providers in spread betting, FX, and CFD trading. City Index is an excellent broker with a lot of longevity in the trading industry. It offers its clients high-tech platforms and a wide range of trading tools.

Read through this review to determine whether City Index is the best broker for you. 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. You cannot use city bank cards to fund accounts with any spread providers. But you are safe if you did so, the amount would simply be returned to the source if you mistakenly transfer the amount this way. With SMS Volatility Alerts, you can stay on top of any trade opportunities in your preferred markets.

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. The FSCSS holds client funds in segregated accounts and there is a deposit compensation scheme available in the U.K. The broker is available to traders from various countries around the world. The platform can be accessed in languages such as English, Spanish, German, French, Chinese, and Arabic, among others. This ensures that traders can navigate the platform comfortably and access all the necessary information in their preferred language.

City Index was founded in 1983 and is one of the leading forex and CFD brokers on the market. It offers a range of trading platforms and many tradable instruments. Alongside industry-standard MetaTrader platforms, City Index also has its own proprietary platform, and an app for on-the-go trading.

1. More, City Index offers various support materials, not including their main library of educational resources.
2. You can trade precious metals like gold, silver, platinum palladium, and iron ore with a low fixed spread of 0.3 pts.
3. The statement must be in PDF form mention your name, bank name, account number, and residential address.
4. Additionally, it would be great if they were to introduce crypto payments but I understand this may not be possible due to regulatory restrictions.
5. They also cannot accept clients from some countries including the USA and do not provide 24/7 support.

Trading Styles: Based on the time you can spend on trading.

TopBrokers.com will not accept any liability for loss or damage as a result of reliance on the information on this site. Forex pairs, cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.

1. Part of the appeal of the WebTrader platform is the extent to which it can be customised.
2. Despite the numerous positive aspects, there are some minor improvements that can be made.
3. This large range of instruments opens City Index up to a larger customer base, and makes it easier to diversify our portfolios.
4. Do keep in mind that factors such as slippage and spreads can vary from demo to real accounts.
5. Especially for beginners, they have a prudent education system and provide free demo accounts.
6. Trading instruments include FX currency pairs, Indices, Global Shares, Global Commodities, Cryptocurrencies including Bitcoin and other markets (bonds, options, etc).

City Index quotes the minimum spread plus the average spread for a historical period. Additional commissions and fees exist only for CFDs on equities and they vary for different markets. One thing though that does let them down is City Index’s economic calendar, it’s terrible.