City Index has proven itself a global leader in CFD trading and Forex trading. Read through this review to determine whether City Index is the best broker for you. This practice involves multiple short-term positions, each with small profit margins. Scalpers may make multiple trades over the course of a day and don’t leave positions open over night.
Is City Index a Worthwhile Platform?
This means that the broker support team is available and can be contacted in different languages depending on both your needs and where they operate geographically. When you trade at least the minimum volumes the rebates will be deposited in your account during the first week of each calendar month. These are also available under MAS regulation in Singapore and can be earned in cash monthly when you trade shares, forex, and indices. This makes it really easy to start using and it operates with a host of advanced charts with custom indicators and is fast and reliable thanks to the HTML5 technology it employs. There are several key trading features to mention, some of which help set this broker apart from others in the industry. These include soft and hard commodities as well as energies with all available as CFDs.
After providing this information, City Index will proceed to close your account. These regulating bodies are the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). City Index is also regulated to trade in the United Arab Emirates under their FCA license.
- By analysing the markets for chart patterns and trade settings, the City Index’s research portal, powered by Trading Central, will save you time.
- In addition to these methods, traders can also find the answers to a range of frequently asked questions in the FAQ section of the brokerage’s website.
- This is for a limited time, but the Standard Account is the next natural step.
- For instance, the MT4 platform has many charting capabilities, and a desktop application, web trader, and mobile app.
- City Index quotes the minimum spread plus the average spread for a historical period.
Bonus available for AUS traders!
Opening an account at City Index is simple as deposits and withdrawals can be made using debit card, credit card or bank transfer with no charges being applied by City Index. There’s an electronic guided tour which walks you through the process step by step. Traders looking to develop their understanding of the markets would do well to engage with the materials on offer at City Index. 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.
DayTrading.com may receive compensation city index review from the brands or services mentioned on this website. Overall, City Index’s research tools provide a strong foundation for market analysis, but a few additional features could make them even more dynamic. While the tools are highly effective, I’ve noticed some areas for improvement. It would be great to have more interactive options, like live weekly webinars or Q&A sessions with analysts, to discuss real-time market developments. Another standout feature is the Trading Central portal within the Web Trader platform. By navigating to the research tab, you can access detailed and actionable technical and fundamental analysis.
We gave City Index a high trust score cause their parents is listed on the NYSE and they are multi-regulated. City Index is a well-regulated and reputable broker offering a diverse range of tradable markets, competitive pricing, and multiple trading platforms. Its regulation under FCA, ASIC, MAS ensures strong financial oversight, making it a trusted choice for traders who prioritise security. City Index is a well-established and fully regulated broker that offers over 450 tradable instruments across different asset classes. They provide advanced trading platforms, tools, and educational resources.
How Much Are Non-Trading Fees With City Index?
The transparency relating to prices and commissions also carries over to the mobile trading format. Its possibly easier to pick out markets which the broker doesn’t cover. For example, investors that wish to offset any losses against tax may prefer to trade CFDs. Clients from outside the UK should check if spread betting is allowed in their region.
It’s also worth remembering that financing charges apply to positions held overnight, a standard practice in the industry when trading forex and CFDs. Stock (CFD) trading incurs a commission of 0.08%, with £10 for UK shares, €10 for European shares, and $10 USD for US shares. Once the trial ended, I had to start fresh with a new demo account(s), which was inconvenient. City Index is now part of the StoneX Group – a Nasdaq-listed, US-based company – suggesting a high degree of financial transparency and rigour in its operations.
How do I close my City Index account?
- City Index offers a standard trading account, a professional account (invitation only), and two types of demo accounts.
- At the moment, City Index does not provide any features for Social-Copy trading although this could always change in the future.
- She also provided clear instructions on how to remove accounts from my profile.
- These happen periodically and can feature insightful hosts, information, and more to provide you with the best possible information and opportunities to make your trades successful.
- The average spread on the EUR/USD with this account type is 0.8 pips and no commissions are charged with the exception of shares.
These applications offer secure 24-hour account access, live charts, and prices, as well as an integrated Reuters news feed and an economic calendar. You can place and manage trades by using mobile trading applications. City Index offer a selection of different trading accounts that allow for fast, easy payments and secure withdrawals. If you are primarily looking to trade currency pairs, the Spread Betting and CFD accounts will give you full access to their FX range with spreads from just 0.5 points.
The CompareForexBrokers team created a trading platform selector so you can work out what trading software best matches your trading needs. I recommend you complete the short 5 step questionnaire which will help you determine your most suitable forex platform. Compared to other online CFD providers, we like that City Index supports multiple order types and has the ability to program your entry and exit points. To get some of these features, you will need to be using the City Index Trading Platform. Spread betting and CFD trading are available on options with City Index. Options give traders just that—an option—to buy or sell an underlying asset at an agreed-upon price on a certain date.
When you open an account you gain access to an impressive educational trading academy. In addition to these methods, traders can also find the answers to a range of frequently asked questions in the FAQ section of the brokerage’s website. Perhaps the single aspect we like most about City Index is the vast range of CFD trading options it offers.
When trading forex and other markets on the City Index MT4 platform, you may take advantage of ultra-tight spreads, quick trade executions, and unique trading features. MT4 is available for free on the Windows, Android, and iOS platforms. On all platforms, you may trade immediately through your MT4 account. 71% of retail CFD accounts lose money You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Each City Index account will give you access to all trading instruments although to use the AT Pro trading platform, the professional trader account is required. There is an inactivity fee to be aware of if you do not use your account.
The button is located at the top right-hand side of the menu on the web trader. City Index doesn’t have specific criteria to qualify new traders but aims to ensure some competence and understanding due to the risks involved. City Index does NOT offer CFDs to traders from, United States, Brazil, Belgium, Hong Kong, and Japan, where CFDs are not permitted by law. Based on which country you live in, City Index may refer you to their sister platform, Forex.com to open a forex account. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with.
This is vital for those who live busy lives and for beginners who need to build their skills. The combination of strong customer support, in-depth educational resources, and market analysis tools makes City Index an excellent choice for traders who want a well-rounded experience. AT Pro comes with a powerful charting package that includes over 100 indicators and a wide range of sketching tools for market research. There is a backtesting excel application that allows you to test the performance of trading signals over past data. Real-time financial news from Reuters provides you with data and market reports directly into all trading platforms and apps. This is a great way to keep up to date with the latest market news and to assist with fundamental analysis.