City Index Review

  • Established in: 1983
  • Based in: United Kingdom
  • Regulated by: FCA, ASIC, MAS
  • Min deposit: $25
  • Max. leverage: N/A
  • Spreads: Fixed and Variable

City Index Review

City Index was established in 1983, that’s more than 35 years ago. Pretty impressive, huh? The parent company Gain Capital Holdings also owns the famous Forex.com and Findspreads. Gain Capital Holdings is listed on the New York Stock Exchange. That means it must meet its standards for financial reporting and corporate governance.

Moreover, by having more than 12,000 various markets, including Forex, Commodities, Shares, and Indices, the City Index holds the leader position of trading instruments selection.

The broker holds the funds of clients fully segregated from their own funds in separate accounts. Furthermore, in the case of liquidation, customers can expect compensation up to £85,000. That’s ensured by FSCS. Not to mention, the City Index goes after the financial regulatory authorities like FCA and ASIC. Totally regulated in 8 jurisdictions worldwide.

City Index Fees and Spreads

The City Index applies pretty high fees compared to other brokers. Also, this includes overnight and inactivity fees. The overnight charges are based on the interest rate differential between the two currencies. It may vary, of course.

The inactivity fee touches funds only when the account stays inactive for more than 12 months. Still, it isn’t very gladdening.

However, the broker charges zero commission when a user Spread Bets. Also, there is no commission charged for CFD Trading, the only exception being Shares CFD Trading. Spread betting and CFD trading, both have different terms, taxes and requirements.

On the other hand, the City Index applies really competitive spreads. As low as from 0.3, depending on what trader trades. Of course, spreads depend on the market and traded asset.

The broker presents three different account levels – Trader, Premium Trader, and Professional Trader. Each of them has particular features, support priority, margins, pricing, etc. However, to become Premium Trader the user needs to get an invitation. Equally, Professional Trader has to qualify that type of account. 

City Index Trading Experience

Users have various selections for a trading environment. Starting with the popular MetaTrader 4, ending with Web Trader. Furthermore, traders may install mobile application for the selected device. iOS and Android, both applications are available.

More advanced traders can go with AT Pro Trading Platform. It supports trading signals and templates which user can customize by his needs. Moreover, the platform includes more than 100 indicators, drawing tools, charts customization, and 15 different time frames.

Furthermore, the City Index gives some risk management tools which may help to avoid common mistakes of funds control. This applies to newbies especially. In addition, the broker allows opening a demo account. Just to play around and catch the wind.

Insights, Informational Tools, and Education

Let’s start with the broker’s tools. First of all, clients may access the Technical and fundamental analysis portal which includes in-depth market analysis, stop and limit levels, markets screening, and some more.

Real Time trading signals via email or SMS – another super useful feature created together with Faraday. And 30 days free trial is available! For users of AT Pro Trading Platform, the broker gives 100+ trading strategies.

The City Index didn’t forget old-school traders who rely on market news and biggest events. We have noticed that the broker provides a wide range of news from around the World. Also, daily briefing videos, economic calendar, and even Brexit news.

Newcomers and newbies aren’t forgotten. They can access the detailed knowledge base which contains answers and explanations to the most important queries. By the way, the City Index organizes free webinars as well. Newcomers can go through New Trader courses, while more advanced wolfs find Experienced Trader courses. And remember to take a look to a guide called How to trade with City Index. It should help to understand the platform better.

The City Index sends monthly emails with market news and trends from in-house expert analysts as well. A helpful feature to stay on the right track.

City Index Customer Support

The broker provides a really high-level support. As the standard of today, every reputable broker must have live chat. The City Index isn’t an exception and one point goes for it. Obviously, customers get phone support as well. And finally, customers can reach the broker by email or just by sending a message from the web page.

All these three methods stay online 24/5, so customers may expect to get an answer anytime on business days. Since most of the markets are closed on weekends, the need for support evaporates on free days and holidays.

In fact, the support of this broker meets all the requirements but isn’t special at the same time. Just a regular support we are used seeing.

Conclusion. Is City Index good for trading?

All in all, City Index earned its name. Not just because of being in business for more than 30 years, but due to support of around 12,000 global markets. Most of the brokers do not reach even the half of it.

However, not everything is so good. First of all, the commission and other fees may be lower. Traders with lighter wallets can easily burn their funds. Not to mention inactivity fee and some overnight rates too.

Secondly, the broker isn’t regulated by CySEC. So it misses some great points sadly. And finally, it doesn’t allow scalping. Not every trader needs that, but having this would be beneficial.

We hope you enjoyed this City Index review as much as it was helpful. Sometimes it’s hard to cover all the features, pros and cons, so we always recommend doing your own research additionally.

If you have missed other great brokers, check reviews of Avatrade and eToro.

 

Attention: Terms, spreads, and information provided on this page may get outdated due to terms and rules changed by the broker. Please double check them before making a deposit and start using City Index.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% 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.

Markets
  • Forex
  • Cryptocurrencies
  • Indices
  • US Stocks
  • UK Stocks
Accounts
  • Demo account
  • Standard account
Platforms
  • MT4
  • Webtrader
  • Mobile apps
Funding methods
  • Credit card
  • Bank transfer
  • Payoneer
Features
  • Trading signals
  • Market analysis
  • Stop losses
  • Limit orders
  • One-click trading
  • Signal trading
Account fees
  • Inactivity fee
  • Commission
Spreads
  • Forex: from 1.4 (EUR/USD) to 5 (EUR/JPY), but spreads always fluctuate
  • Stocks: from 0.0008 to 0.002
  • Indices: from 0.6 to 6
  • Cryptocurrencies: from 0.8 (Ripple) to 40 (Bitcoin)

Please, double check spreads before making a deposit. Make sure it fits your needs. Also, these spreads are subject to change. Furthermore, spreads always fluctuate.

Support
  • Live Chat
  • Email Support
  • Phone Support
Excluded countries USA, Canada, check more in the terms
Languages English
Licenses FCA - 113942; ASIC - 345646
Broker contacts

CITY INDEX OFFICE ADDRESS

+44 207 550 8500

16 Finsbury Circus
London, EC2M
United Kingdom

ACCOUNT OPENING & SUPPORT