These include soft and hard commodities as well as energies with all available as CFDs. The spread on gold starts from 0.3 pips, silver from 2 pips, US Crude Oil from 0.4 pips, and UK Crude Oil from 5 pips. For updated rates, you can check with the broker at the time of your trade. This means, for example, if you deposited with a debit card, you may only withdraw back to that same card. The withdrawal method you choose must also be registered on your account. While you cannot extend the demo account beyond the available period, you can apply for a new one if you feel you need it.
This can apply to countries like Canada, Japan, or the USA where you are obliged to register an account with Forex.com as your only choice. Trading techniques are limited, however, Spread Betting is permitted and they have more than 35-years of trading experience. The InvestinGoal review team has carried out a detailed review of City Index covering all key areas of the broker. This practice involves multiple short-term positions, each with small profit margins.
City Index rightfully deserves a place on any shortlist of brokers, but no service provider ticks all of the boxes for all traders. This review will consider the pros and cons of City Index and outline the reasons why (and why not) the broker might be the best fit for your style of city index review trading. Most City Index reviews state that while most users are satisfied with the accounts offered, they wish there was more choice.
Customer support is excellent, with fast response times and quality advice given. City Index Trading Review provides a range of trading platforms including WebTrader, MetaTrader 4, and mobile apps, catering to various trading needs. Moreover, the trading platform has regular supervision of electronic trading systems. For forex trading on MT4, traders can place trades as small as 0.01 lots (micro lots).
Trading Platforms and Tools: 4/5
This broker also offers commodity trading in gold, silver, oil, and natural gas, alongside a global range of bonds. Finally, City Index also facilitates cryptocurrency trading, including Bitcoin, Ethererum, Litecoin, and Ripple. City Index is a trading platform that has been operating for 38 years, has a global presence supported by its listed parent company, and is overseen by top financial regulatory bodies. It is considered a safe and reliable option for traders and investors. Forex traders can gain access to forex markets through spread betting, CFDs and foreign exchange spot transactions. Founded in 2014 and acquired in 2021, BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs.
Traders looking to develop their understanding of the markets would do well to engage with the materials on offer at City Index. The Demo account has all the functionality of the live account but is only available for a fixed period. In the UK this is 12 weeks and whilst appreciating the need for good house-keeping that restriction did strike our testers as being borderline counter-productive. City Index is a firm with a global outlook and account terms vary from region to region. There are four general categories which are broken down by which of the City Index offices a client falls under.
Having two top quality platforms to choose from is a real plus point for City Index clients. They both tick most boxes but have a different ‘feel’ to them so traders can work out what best suits them. The charge on inactive accounts is £12 per month (for accounts dormant for longer than 12 months) but brokers do need some kind of scheme to incentivise their clients to engage in good housekeeping. Unlike some other brokers, City Index has embraced cryptocurrency trading and offers a range of 17 different markets. The coins covered include Bitcoin and also some alt-coins such as Litecoin, Ethereum and Ripple.
Special Features
City Index offers spread betting as an option for trading in the United Kingdom. Spread betting is similar to CFD trading in that it is a form of margin trading and most of the same instruments are available with the same leverage. Filippo Ucchino created InvestinGoal, a comparison site and educational portal for the online trading and investing industry.
- 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.
- For example, investors that wish to offset any losses against tax may prefer to trade CFDs.
- The Advantage Web platform is a web-based trading platform with built-in market analysis and fast execution.
- The combination created a new global firm with operations in more than 150 countries and annual trading volumes in excess of $3 trillion.
- This broker offers access to the global indices market, shares in the London Stock Exchange, New York Stock Exchange, and NASDAQ.
- They even give an experienced relationship manager to customers for insight and trading help.
How do I close my City Index account?
The Advantage Web platform is a web-based trading platform with built-in market analysis and fast execution. TradingView is a powerful charting platform known for its extensive technical analysis tools and a trader community for market insights. With City Index, you will find that the account opening process is very simple, and the broker has excellent Forex education and research tools.
Reviews from actual traders
Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. With Chasing Returns’ in-depth Performance Analytics tool, you can track your personal trading performance and find your most productive trading behaviours. Analyze your trading tendencies, best and worst deals, top-performing markets, and much more. Here are some frequently asked questions that traders and to-be traders often ask about City Index.
It is a good choice for experienced traders and provides access to EAs. For those using a debit or credit account to add funds, there is a minimum of $250 per transaction. The forex broker offers you adequate trade 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. City Index is a leading provider of online trading services, specializing in Contracts for Difference (CFDs), forex and spread betting. With over 35 years of experience, City Index offers a wide range of tradable assets to cater to the needs of both individual and institutional traders.
- Use the calculator below to compare City Index’s trading costs with competitors such as Pepperstone, Eightcap and CMC Markets, adjusting for trade size, currency pair, and base currency.
- Use our country selector tool to view available brokers in your country.
- The app allows us to access real-time market data, execute trade, and manage accounts from anywhere, at any time.
- CFD traders can trade on options, indices, currencies, commodities and bonds are commission-free, and you have to pay commissions for CFDs on shares, which vary depending on the market you want to trade.
- City Index is a derivative brokerage firm that offers customers a platform for spread betting and trading forex and Contracts for Difference (CFDs).
City Index takes deposits without clearly stating that they only ‘accept’ deposits from a “traditional bank account”. Then you are asked to provide evidence that you’ve made this same deposit from your current account in order for them to deposit it back. One guy named Toby tells me they only deal with traditional banks and do not deal with anything related to fintech. Take advantage of lightning-fast execution, award-winning platforms and superior support. Clients looking to engage with other traders to share strategies news and trading ideas would do well to research the MetaTrader site for the countless opportunities to be found there. The functionality of the trading platform has been well thought out.
There’s an electronic guided tour which walks you through the process step by step. One of our traders reported experiencing the ‘white screen of death’ when none of the tabs worked. Nor does it suggest the platform is unreliable, but it is a point that needs to be shared. These tools, along with the healthy range of stop loss instructions not only make trading more convenient but used properly also act as effective risk management tools. The ticket building functionality deserves a special mention as City Index has pulled out a few stops to give traders some very nice-to-have tools.