This might be disappointing for traders who prefer to follow and automatically copy the trades of successful investors. Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. If you have experience trading with City Index please share your personal review of the broker and what you think are strong and weak points. Compare City Index with the top 3 similar brokers that accept traders from your location.
Marketing and sponsorship
At this point, the broker will automatically exit some trading position till the threshold is no longer crossed. To help prevent negative balance protection from needing to be activated, a margin call system is also used. When your margin indicator level drops below 100%, you will be notified by email to top up your account balance or close some trading positions. This means you need enough balance in your account across open and closed positions to cover your required margin to hold your position. Our team of experts felt the obligation to provide our readers with additional information on the guaranteed stop-loss order. Asset selection at City Index is exceptional, catering to traders across the spectrum.
Requests are processed within 1–2 business days, and card withdrawals take 3–5 working days to complete. Deposits are free of charge and typically reflect in my trading account within minutes, except for bank wires, which can take 1-3 working days. Once the trial ended, I had to start fresh with a new demo account(s), which was inconvenient. Founded in London in 1983, City Index has grown into a highly trusted global broker. For UK clients, City Index is also a member of the FSCS (Financial Services Compensation Scheme), which means that, if the company is liquidated, some clients might be compensated up to £85,000.
Desktop Experience
Though City city index review Index’s pricing might not lead the industry, its solid platform suite, wide range of tradeable markets, and exceptional proprietary mobile app will attract traders of all experience levels. City Index is an award-winning online broker with many noteworthy achievements throughout the past five years. These include the best CFD provider award (2016), best spread betting service (2017), and best mobile platform (2018). It may have a well-regulated trading environment, a wide range of instruments, and competitive fees, but there are a few things that could use improving.
However, beginners should be aware that City Index primarily caters to more active traders. If you’re completely new to trading, you may want to take your time exploring the platform and the different assets available before diving into live trading. The ‘Trading Academy’ provides a range of written lessons suitable for both beginners and experienced traders. City Index introduced its proprietary Web Trader platform in late 2018 for CFD and spread betting accounts. City Index provides access to a growing roster of over 13,500 global markets, a huge library that offers a broad spectrum of opportunities. Users have a choice between City Index’s proprietary Web Trader and other platforms like AT Pro and the industry-standard MT 4.
- Our team of experts felt the obligation to provide our readers with additional information on the guaranteed stop-loss order.
- City Index scored well in most review categories, but it does have certain flaws, including confusing fee disclosures, uncompetitive volume discounts, and no secondary insurance coverage.
- For newer traders, City Index has a lot of educational tools that can help those who want to learn more about the industry.
- These revenue streams allow us to remain financially independent of advertisers, enabling us to provide all services with maximum transparency.
- City Index doesn’t make any charges for debit card, credit card deposits or transfers and the broker also doesn’t charge for money withdrawals.
Here is a detailed look at the benefits and drawbacks of City Index, allowing traders to decide if this broker is right for them. Other reputable Australian forex brokers which offer these types of strategies include IC Markets and Pepperstone, which both benefit from some of the lowest spreads in the forex industry. To access the trading strategy course, forex traders need to open an account with City Index and make a minimum deposit.
- Commissions apply on equity CFDs, and are as low as 0.08%, but no less than £10 or the currency equivalent.
- City Index is a reputable forex broker with 30+ years of trading experience.
- There is also a monthly inactivity fee of £12 for trading accounts that are inactive for 12 months or more.
- Spreads are as low as 0.5 pips for currency pairs and 1.0 points on indices.
- City Index maintains three account types and three trader classifications, each with an improved trading environment.
- Users have a choice between City Index’s proprietary Web Trader and other platforms like AT Pro and the industry-standard MT 4.
City Index Fees
Web Trader offers excellent trading tools and a variety of advanced features, and delivers access to more tradeable markets than MT4. City Index is a global provider of spread betting, contracts for difference (CFD) and foreign exchange (FX) trading services. Founded in the United Kingdom in 1983, it currently operates as part of the Nasdaq-listed financial services group StoneX. There is no minimum deposit at City Index, and traders can start with whatever amount they want.
Mobile trading apps at City Index
AT Pro has a Development Studio feature with automated trading functionality for traders who want to put their accounts on autopilot. Clients can use more than 100 pre-loaded strategies and backtest them using historical data. With many more features and customization options, AT Pro is a more complex platform than Web Trader. It is geared for advanced traders who can utilize the potential behind AT Pro’s 130+ indicators and 25 drawing tools, as well as other advanced functions. There is quite a long list of products you can trade on City Index’s platforms. Users have access to commodities like precious metals, oil, natural gas, as well as the four most popular cryptocurrencies, Bitcoin, Ethereum, Litecoin, and XRP.
What is the maximum leverage in City Index broker?
At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points. City Index’s trading tools include high-tech trading platforms like WebTrader and MetaTrader 4 (used by millions of traders around the world).
With competitive pricing, multiple trading platforms, and a diverse range of trading markets, City Index is one of the most reputable brokers. This broker is perfect for new and experienced traders alike, with high-quality research tools, advanced charting platforms, and educational resources. Regulated by FCA, ASIC, and MAS, City Index also offers a broad market selection, including Forex, indices, stocks, commodities, and options. Despite all its great features, the absence of MetaTrader 5 (MT5), copy trading features, and cryptocurrency trading for UK retail clients remains a stumbling block for many traders. Traders are treated to a well-regulated trading environment, a competitive pricing structure, and an excellent trading platform. Trading Central powers the core research suite, Reuters streams live news, and an outstanding charting package supports manual traders.
For this reason, City Index offers various risk management tools including guaranteed stop-loss orders. While City Index does not offer bonuses or promotions, a cash rebate on Forex and indices trading is available for professional traders. Besides core assets, traders have access to a wide range of secondary markets.
This broker offers various instruments in 13,500+ markets, allowing its over 1 million user base to trade and diversify their portfolios. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
Does City Index Have Options?
It offers its clients high-tech platforms and a wide range of trading tools. This broker is ideal for new traders, thanks to its excellent educational resources, though all traders, especially experienced ones, will benefit from its award-winning track record. 71% of retail investor accounts lose money when trading CFDs with this provider. The spread betting and MT4 accounts feature competitive spreads, as low as 0.5 pips in the EUR/USD and 1.0 points in indices. Commissions apply on equity CFDs, and are as low as 0.08%, but no less than £10 or the currency equivalent.