City Index offers commission-free trading in spread bets of over 4,700 global equities including IPO markets. City Index offers more than 6,300 markets across shares, indices, Forex, commodities, etc., and provides access to exclusive tools such as SMART Signals and Performance Analytics. The City Index parent company, StoneX, has more than 100 years in the financial markets and is arguably one the largest retail and institutional grade trading providers globally. They also offer a very wide range of markets although the spreads are not the tightest one can find and they seem to charge 3% on overnight positions average in the industry is more like 2.5%. No doubt, City Index is a legitimate brokerage firm that offers a wide variety of trading instruments. These make for good trading conditions and could potentially contribute to the building of strong investment portfolios.
- Whilst these are often time-limited, they generally include cash incentives for new account holders who deposit a minimum amount into their accounts and execute a certain number of bets.
- A forex broker with multiple tier-1 regulations has a considerably lower risk of default.
- The overall pricing environment remains excellent and is extremely competitive.
- We are happy to hear that our team provided you with excellent service.
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 trading fees are both fixed and variable spreads depending on the market. Traders can trade daily, monthly, and quarterly options with tight spreads across 40+ markets, including FX, indices, and commodities.
Typical Spreads and Fees
We may receive commissions on purchases made from our chosen links. Negative balance protection and guaranteed stop loss orders ensure that your losses are limited. You will also not fall into debt because you cannot lose more than your trading capital.
City Index does not have negative balance protection which means you can lose more money than you deposited if your trade position is unsuccessful. Customer support hits all the bases, with 24/5 phone support through London local and international phone numbers. Online chat is available to new and prospective clients, but users need to “talk” with an annoying chat robot before getting to a human customer representative. The broker accepts support questions through phone, chat, or email, and a fairly strong social media presence is used primarily to distribute research and marketing materials.
As a group City Index have over 400 employees worldwide and offices in the UK, Poland, Singapore, China, Israel and Australia. They transact in excess of 2 million trades every month for individuals in over 50 countries worldwide. It is highly recommended that the reader of this review establish a balanced sense of judgement through further search. It is the goal of the review team to render a pointed and informed assessment of City Index’s over-all capability. If all this seems a bit too much, don’t worry, City Index has an extensive Education section where they explain all these things in much more detail than I just did.
Supported third-party platforms include TradingView Trading Platform and MetaTrader 4, which provides access to Expert Advisors, a customizable Economic Calendar, and the MetaTrader 4 mobile app. The parent company, Gain Capital UK Limited is publicly traded and meets the highest standards of financial reporting, corporate governance, and disclosure. If no activity has happened on your trading accounts for 24 months or more, your City Index trading account will be tagged inactive and a monthly inactivity fee of $15 will be applied. All rebates are paid into the trader’s trading account at the beginning of the following month. Obligatory regulatory changes to some features and products will not be enforced for Professional clients. As stated earlier the Professional account is strictly for experienced traders.
What is the minimum deposit at City Index?
However, for PayPal, the process is even faster, often completed within a few hours. The platform offers a wide range of charting tools, technical indicators, and drawing tools that are essential for making informed trading decisions. What I particularly liked was the ability to customize the layout to fit my trading style. Whether you’re day trading or holding positions for the long term, the platform’s flexibility allows you to set it up in a way that works best for you. City Index is right for you if you’re interested in trading a large selection of Forex and CFD markets with an ample selection of platforms. Also, the City Index website and mobile app have an excellent user interface suitable for retail and Professional traders.
Traders can choose from USD, GBP, EUR, and other cross-currency pairs. City Index is a popular CFD broker in Singapore and are regulated by the MAS. They provide CFD trading service on various instruments and with zero commission for currency pairs on the Standard Account. Further, City Index’s range of trading instruments and customer support are one of the best-in-class making City Index one of the best brokers for residents of Singapore.
City Index Fees and Commissions
Spread betting is ideal for UK-based traders, as it is free of capital gains tax and stamp duty. Our review of this broker finds that they offer their clients the AT Pro trading platform, Advantage Web, TradingView, MetaTrader 4 and Mobile Trading Apps. It is safe to say that the AT Pro trading software is a major prime reason why investors are trading with this broker. With the AT Pro software, you can code your own trading strategies, and back-test their performance. Advanced charting capabilities are built into it, along with ready made Auto Trading strategies for Forex trading. Web Trader offers all standard trading platform features, https://traderoom.info/city-index-forex-broker/ such as historical data feeds and tools for monitoring open and closed positions and trading history.
- City Index offers an excellent educational platform and supports algorithmic trading, while Plus500 remains a better choice for manual traders seeking a high-quality execution-only broker.
- The scope of this review is to provide a thorough examination of the features and services offered by City Index, particularly focusing on its appeal to those engaged in algorithmic trading.
- City Index is a well-regulated broker that offers its customers access to over 12,000 markets across forex, indices, shares, commodities and – in limited countries – cryptocurrencies.
- This became available directly in to the clients account as soon as at least 3 trades were placed at a minimum of £3 per point.
- Fixed spreads might be offered on certain instruments and in certain trading periods.
Clients may e-mail City Index, use the webform, call the help desk, or utilize the live chat function. It is unlikely that traders will require assistance at this well-operated broker, but it is easily accessible in case a need arises. Yes, City Index is licensed & regulated by various financial regulators depending on your country of residence. Experienced traders already know the benefits of using a broker that is licensed and regulated. By using a legitimate broker, you can be assured that funds are kept in segregated accounts. City Index offers a mobile application for both iOS and Android users.
Under this program, clients are provided with up to £50,000 coverage in the event of a broker default. The methods to withdraw are credit/debit cards, bank transfers, and PayPal. Card withdrawals take between 3 and 5 business days (domestic payments may take 1-2 days). The minimum amount is 100 Pounds or your entire account balance, whichever is lower; withdrawals are free of charge. There are many CFD brokers available to compare and choose from online. You can find the reviews of other high quality Forex brokers here.