The button is located at the top right-hand side of the menu on the web trader. City Index’s application presents products and asset classes in a non-pretentious format. Products can be navigated by scrolling through the screen, and trades can be executed in just a few taps. There is no minimum deposit — City Index recommends $/£/€100 as a starting point. Speculating on interest rates at City Index is based on fixed spreads.
You should have a good the of online trading before you set out and trade with real money as losses can exceed deposits. City Index offers demo accounts for the ease of inexperienced traders. You can use this feature to build your faith in the system as well as yourself and your trading strategies. MetaTrader 4 also known as MT4 is one of the top trading platforms on the planet and has been in active use on financial markets since 2005.
You can even start positions, examine different trading approaches, and more. City Index charges a deposit fee for transferring money into your trading account. City Index is an online brokerage platform, and many online brokerages charge lower fees than traditional brokerages tend to charge. https://forexbroker-listing.com/ The reason for this is that the companies of online brokerages are scaled much better. That is, an online broker is not necessarily affected by the number of customers they have. City Index, as a company, has a powerful set of rules for ensuring honest trading on its own platform.
When you make a genuine trade, like buying a stock or an ETF, you are charged trading fees. In such instances, you’re spending a spread, financing rate, or even a commission. The kinds of trading fees and the prices differ from broker to broker. The MetaTrader 4 trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements.
They were founded in 1983 and offer trading in over 13,500 financial markets, to around 126,000 active clients. City Index is currently owned by StoneX, a US brokerage listed on the NASDAQ valued at $2bn. City Index is a derivative brokerage firm that offers customers a platform for spread betting and trading forex and Contracts for Difference . CFDs allow traders to speculate on asset prices without owning them. Trade more than 12,000 global financial markets with City Index. Join over 115,000 traders who trust us to provide a best-in-class CFD trading and spread betting service.
Fees
While a dedicated account manager was automatically assigned, the account opening process took days, and establishing an MT4 account required intervention from the account manager. City Index’s parent company is the StoneX group which also owns another global broker in Forex.com. StoneX acquired City Index from GAIN Capital Holding Inc. in 2020.
City Index offers an excellent fit for new and mid-level traders seeking excellent research, solid education, reliable customer service, and a broad range of competitively-priced markets. The StoneX connection goes a long way in building city index review trust, while the broker’s history and London location will instill confidence. Full-time and professional traders may be forced to look elsewhere due to the lack of volume discounts and weak connectivity through VPS and API interfaces.
User Reviews
You can watch the training videos on their site but they also have a YouTube channel that regularly uploads short, relevant market analysis videos. GAIN Capital acquired City Index for $118 million in late 2014. In early 2017, GAIN acquired FXCM’s U.S. accounts worth $7.2 million immediately after FXCM was banned in the U.S. With CFD trading, you don’t actually own the underlying asset, so you don’t have any voting rights or other ownership benefits that come with owning the asset.
This happens when a forex broker can’t achieve the price set in the stop-loss order. City Index enables trading of over 4,500 global shares as CFDs where traders can speculate on long or short positions. Traders have access in real-time to over 4,600 markets spanning forex, stocks, indices, cryptos, and more. Overall we found that City Index performed poorly a lowly 17th of the 20 brokers. To verify our results we did the test again one week later and the results were similar. With an average spread of 1.79 pips, your cost will be $16.52 per lot you trade.
Account Types 🗃
Our ultimate guide to the City Index minimum deposit is updated regularly. The product portfolio is limited, stock CFD fees are quite high and the desktop platform lags behind its competitors. City Index is a brand of StoneX Group Inc., a US-based investment company.
It’s essential to be vigilant and comprehensive in your City Index broker selection to protect your hard-earned money. Performing your due diligence and researching the credibility of City Index, its track record, and reputation is vital. Moreover, ensure the City Index broker’s offerings, trading tools, fees, and regulation align with your requirements.
Worse still the lines keep breaking down .Hopeless – had to email them . We’d be happy to arrange for one our team to contact you to discuss the benefits of our Premium Service, as well as the array of research tools & content that we make available. Yes, based on our data matrix, testing, analysis and the fact they are regulated by the FCA City Index is a good broker. Your funds are also protected under the FSCS with City Index. Obviously, they have access to more than the usual markets plus some nice thematic-themed indices , and a good pool of sectors to speculate on. You can also trade options on a good range of indices and commodities.
- Overall, we think that City Index is a solid forex broker which offers robust customer support channels, plenty of insightful educational materials, and a wide range of financial markets.
- City Index specializes in spread trading and CFDs and it can offer competitive pricing for these products, especially with its fixed and variable rates.
- New account applications are processed by a four-step online form.
- Our team has devoted their efforts to simplify the intricate world of trading with City Index into easily understandable information in this City Index review.
- Regardless since these prices are both matched to the same underlying instrument, the price is the same, just to a different decimal.
The MT4 trading platform is available as the basic version, without any of the required third-party add-ons to unlock its full potential. Traders with existing automated trading solutions developed on the MT4 infrastructure will enjoy access to an outstanding trading environment. All other traders are advised to take advantage of the AT Pro platform. Another excellent account type choice at the broker is their FX on MT4 Account. This account type is focused on forex trading as in the name and is built to work solely with the MT4 trading platform. Here you will also find that no minimum deposit is required.
Its platforms offer you adequate tools for market analysis and links to third-party research providers can help you in the decision-making process. You can get a demo account to test City Index’s products and to experience its customer support firsthand. Thank you for your 5-star review.FOREX.com always strives to provide a professional and informative customer service experience for all our traders. We were delighted to hear your experience with FOREX.com has met your expectations and hope you continue to enjoy trading with us going forward.
City Index Demo
City Index MetaTrader 4 is compatible with the latest macOS. City Index allows traders to trade on mobile devices through Android and iOS devices. The broker goes to great lengths to comprehend what dealers need. The broker also provides a number of programs for all kinds of traders. City Index helps to ensure that the individual needs of all online traders are met to the best of their capabilities. They features trading on MT4, Web Trader, Tablet & Mobile apps.
Real times news is curated by Reuters, inside the technical/fundamental analysis portal. Other essential features include a phenomenal charting package, precision drawing tools, and valuable market data. AT Pro represents one of the most advanced trading platforms available to traders in today’s financial markets. Besides the three distinct account types, City Index has three trader classifications. The Trader account is the default classification for retail traders.