City Index is a multi-asset financial service provider with 40 years’ experience in the market and the winner of numerous awards, year after year. We offer instant access to over 13,500 markets via spread betting and CFDs through our proprietary trading platforms and MetaTrader. Our execution technology gives you a competitive edge in fast-moving markets, with an average execution of 0.02 seconds and a 99.99% success rate.
What is the City Index？
Established in 1983 and registered in the United Kingdom, City Index provides traders with instant access to over 13,500 markets through spread betting and CFDs via our proprietary trading platforms and MetaTrader. The platform provides access to a wide range of tradable assets, including forex, shares, indices, commodities, bonds, and ETFs, catering to diverse trading preferences.
Regulation
City Index holds license number 446717 issued by the Financial Conduct Authority (FCA) in the United Kingdom.
Pros & Cons
City Index is regulated by the Financial Conduct Authority (FCA) in the United Kingdom, ensuring a secure and trustworthy trading environment for its clients. While the platform does not support crypto trading, it offers a wide range of other trading instruments. With City Index, there are no minimums required to start trading, allowing flexibility for traders of all levels. One of the standout features of City Index is its zero-commission trading, helping traders keep their costs low and maximize their potential profits. Additionally, the platform provides live chat support, allowing traders to receive immediate assistance whenever they need it.
Tradable Securities and Services
City Index offers a diverse range of tradable securities and services to cater to various investment preferences.
Traders can access over 84 currency pairs in the Forex market, with spreads starting from as low as 0.5 points.
With more than 4,700 global equities available, investors can engage in commission-free trading on spread bets.
The platform also provides access to over 40 global indices, offering competitive spreads as low as 0.4 points and the ability to trade in out-of-hours markets.
For those interested in commodities, City Index allows speculation on the price movements of oil, gold, and silver through futures contracts or spot prices.
Additionally, traders can take positions on bonds such as UK Long Gilt, Euro Bund, and US T-Bonds.
Furthermore, City Index offers exchange-traded funds (ETFs), enabling traders to invest in a basket of assets, such as stocks, within a single position.
Commissions & Fees
City Index offers competitive fee structures to ensure transparent and cost-effective trading experiences for its clients. For the Standard Account, no commission is charged, providing traders with a commission-free trading environment. Similarly, for the MT4 Account, there are no commissions, except for shares markets, where specific commission rates may apply.
When it comes to depositing funds into a City Index account, various payment methods are available, each with different fee structures. Debit card deposits are free of charge, as are credit card deposits; however, it's important to note that card issuers may impose fees for credit card deposits. PayPal deposits also incur no charges, making it a convenient and cost-effective option for funding trading accounts. Additionally, bank transfers are free of charge, ensuring flexibility in funding accounts without incurring extra fees.
Furthermore, City Index does not charge any fees for making withdrawals from trading accounts.
Account Types
City Index provides a variety of account types to cater to the needs of different traders:
- Standard Account (CFD or spread betting):
Access thousands of global markets on award-winning platforms, benefiting from powerful TradingView charting and transparent fees. The spread is variable, with rates as low as 0.8 points, and no commission is charged.
- MT4 Account:
Trade hundreds of global markets using advanced trading tools on the popular MetaTrader 4 platform. Enjoy access to custom indicators and Expert Advisors for enhanced trading strategies. Spreads are variable, starting from 0.5 points, with no commission (except for shares markets).
- Corporate Account:
Designed for both retail and institutional investors, offering access to over 13,500 markets. Fund your account through a corporate bank account or card, and enable multiple users to trade on one account.
- Professional Trader Account (for experienced traders):
Exclusive benefits include a dedicated Client Relationship Manager, preferential margins, and a Welcome Rebate that refunds trading costs as cash.
- Demo Account:
Trade thousands of markets without risking capital using the paper trading simulator. Practice trading strategies in a risk-free environment.
Platforms
City Index offers a diverse range of trading platforms tailored to meet the needs of traders:
- Mobile Trading App:
The mobile trading app provides traders with easy-to-use functionality, allowing them to seize trading opportunities with simple one-swipe dealing. The app is available for both Android and iOS devices, ensuring accessibility for a wide range of traders.
- Online Trading Platform (Web Trader):
Access over 13,500 global markets through City Index's browser-based trading platform, Web Trader. This platform offers customisable workspaces, ensuring traders can set up their trading environment according to their preferences.
- TradingView:
City Index integrates TradingView, providing traders with access to supercharged charting tools and the world's largest social network for traders. Now, spread betting is also available through this platform, offering enhanced trading opportunities.
- MetaTrader 4 (MT4):
Traders can enhance their trading experience with MetaTrader 4 (MT4) on City Index's platform. MT4 is renowned for its comprehensive suite of trading tools and features, and City Index ensures traders benefit from tight spreads and fast trade executions similar to those on its proprietary platforms.
Trading Tools
City Index provides traders with a comprehensive suite of trading tools to enhance their trading experience and improve decision-making:
- Performance Analytics: Performance Analytics serves as a revolutionary digital mentor, offering realistic goal setting, live discipline tracking, and psychological insights tailored to each trader's preferences and trading style. By focusing on discipline, knowledge, and skill development, Performance Analytics equips traders with the necessary tools to trade with confidence.
- SMART Signals: The SMART Signals engine utilizes a sophisticated selection algorithm to automatically monitor 36 major global markets across thousands of price data points. It identifies potential trading opportunities by analyzing historical price patterns in specific markets. Once a successful price pattern is identified, it is displayed through the SMART Signals dashboard, allowing traders to stay informed about market movements and potential trading opportunities.
- Economic Calendar: City Index offers an economic calendar, which serves as a diary listing upcoming economic releases and events that are likely to impact markets in the coming weeks and months. This tool is essential for traders as it helps them plan their trading strategies around anticipated market volatility. By staying informed about key economic events, traders can make informed decisions and adapt their trading approach accordingly.
Deposit & Withdrawal
City Index provides various methods for funding trading accounts. These include debit cards (Visa, MasterCard, Maestro, and Electron), credit cards (Visa and MasterCard), PayPal, and bank transfers.
However, it's essential to note that Citibank cards are not accepted for funding spread betting accounts. In such cases, clients must use a bank transfer from their Citibank account. Cash payments directly into City Index's bank account are not accepted, and third-party payments will be rejected and returned to the original source.
Withdrawal processing times vary depending on the method. Card withdrawals typically take 3–5 working days, while domestic bank transfers are generally processed in 1–2 working days. Faster processing may occur if the bank supports the faster payments service, potentially completing transfers within one working day.
Educational Resources
City Index offers a range of educational resources to support traders at all skill levels.
The platform features courses tailored to different proficiency levels, including beginner, intermediate, and advanced. Beginners can access foundational content covering topics such as trading basics, risk management, and leverage. Intermediate traders can delve into subjects like fundamental analysis and trading tips, while advanced traders can explore advanced strategies like straddles and indicator strategies.
Additionally, the platform offers quick lessons on various topics like indices trading and support and resistance, catering to different learning needs.
Traders can also benefit from free webinar sessions conducted by expert market analysts, providing insights into market-moving events and trading strategies.
Lastly, City Index provides a glossary of trading terms, ensuring traders have access to essential terminology to enhance their understanding of the financial markets.
Customer Service
Traders can reach the support team via phone or email. For phone assistance, City Index provides two contact numbers: 0203-194-1801 and a toll-free number, 0800-060-8609. Traders can call these numbers during operating hours to speak directly with a representative and receive prompt assistance. Additionally, traders can send an email tosupport.uk@cityindex.com to address any queries or concerns they may have. The support team is available 24 hours a day, five days a week, ensuring that traders can access assistance whenever they need it.
Conclusion
Overall, City Index is a reputable brokerage, regulated by the Financial Conduct Authority (FCA) in the United Kingdom, providing traders with a secure and reliable trading environment. However, the platform does not support crypto trading, which may be a limitation for investors interested in cryptocurrencies. Despite this, City Index offers a diverse range of trading instruments, catering to various investment preferences.
FAQs
Is City Index a regulated brokerage？
Yes, City Index is regulated by the Financial Conduct Authority (FCA) in the United Kingdom, ensuring a safe trading environment for investors.
Does City Index offer commission-free trading？
Yes, City Index offers commission-free trading for both its Standard Account and MT4 Account, except for shares markets where specific commission rates may apply.
What kind of trading platforms does City Index offer？
City Index provides a range of trading platforms and apps, including a mobile trading app, an online trading platform accessible via web browser, TradingView for advanced charting tools, and MetaTrader 4 for enhanced trading capabilities.
Is City Index suitable for beginners？
Yes, City Index offers user-friendly trading platforms and provides educational resources, making it suitable for beginners looking to start their trading journey.
Risk Warning
Engaging in online trading poses significant risks, including the potential loss of invested capital, and may not be suitable for all traders or investors. It is essential to thoroughly understand these risks before participating in any trading activities. Additionally, please note that the information provided in this review is subject to change due to updates in the company's services and policies. The creation date of this review is also important, as the information may have become outdated over time. Therefore, readers are strongly advised to verify the most up-to-date information directly with the company before making any investment decisions. The responsibility for acting on the information contained in this document lies solely with the reader.
United Kingdom
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