CIty Index review

City Index

City Index

www.cityindex.co.uk

  • Leverage: 1:30

  • Regulation: FCA

  • Min. Deposit: 100 GBP

  • HQ: UK

  • Platforms: Advantage Web, AT Pro, MT4

  • Found in: 1983

City Index instrumentsCity Index Licenses

  • GAIN Capital Holdings Inc - authorized by CFTC (USA) 
  • GAIN Capital Holdings Inc - authorized by NFA (USA)
  • GAIN Capital UK Ltd - authorized by FCA (UK) registration no. 113942 
  • GAIN Capital Canada Ltd - authorized by IIROC (Canada) registration (view the license)
  • GAIN Capital Australia Pty Ltd - authorized by ASIC (Australia) registration no. ACN 141 774 727, AFSL 345646
  • GAIN Capital  Japan Ltd - authorized by JFSA (Japan)
  • GAIN Capital Singapore Pte Ltd - authorized by MAS (Singapore)
  • GAIN Global Markets Inc. - authorized by CIMA (Cayman Islands) registration no. 25033
  • Representative Office of GAIN Capital UK Ltd in the UAE - authorized by UAE Central Bank 

Top 3 Forex Brokers

  1. What is City Index?
  2. Awards
  3. Is City Index safe or a scam?
  4. Leverage
  5. Accounts
  6. Market Instruments
  7. Fees
  8. Deposits and Withdrawals
  9. Trading Platform
  10. Customer Support
  11. Education
  12. Conclusion

What is City Index?

City Index is a trusted provider, located in the heart of London with over than 30 years of experience and heavy background of well-trusted parent company – GAIN Capital, which is listed on the New York Stock Exchange, serves numerous trading names around the world and is one of the largest retail and institutional trading providers.

Among the numerous benefits and transparent operation that Gain Capital shows constantly within the industry, its global presence with 800+ staff across Europe, Asia Pacific and North America are letting you trade assured of a clear manner broker operates.

Is City Index a good broker?

Investors that chose City Index as their broker comes to a number of over 150,000 traders worldwide, and this is not a surprising fact. The broker’s quality execution, competitive pricing, low margins, tight spreads from 0.5 points of FX and truly supportive relationship management makes a well-valued choice.

Along with the wide range of markets, the broker is famous for its platform features, as well as the progressive, some of the leading trading solutions and technologies which we will see in detail further n City Index Review.

ProsCons
Strong established parent company, globally recognized with 35+ years experienceNo multi-currency accounts
Sharp adherence to regulation and good standing
Listed on the NASDAQ
Professional trading environment
Great range of Market instrument including Cryptocurrencies
Proposal suitable for beginners and Professionals
Based on MetaTrader and proprietary technology
Good education support

CIty Index website

10 Points Summary
🏢 HeadquartersUK
🗺️ Regulation and LicenseFCA, IIROC, ASIC, CFTC, JFSA
🖥 PlatformsAdvantage Web, AT Pro, MT4
📉 InstrumentsCurrency pairs, Shares, Cryptocurrencies Bitcoin and Ethereum, Indices and commodities
💰 CostsA quite competitive fixed and variable spreads starting from 0.5 pips
🎮 Demo AccountAvailable
💳 Minimum deposit100 GBP
💰 Base currenciesSeveral currencies supported
📚 EducationLearning materials and technical analysis through Learning Academy
☎ Customer Support24/5

Awards

As we will go further we find the City Index offering in a detail, you would truly understand why the broker gained during thirty years of their activity such a trustful position along to many awards and international recognition. Also, GAIN capital is among one of the ranked successful institutions and holding, so the awards are truly mean.

Voted Best Spread Betting Platform | ADVFN & Best Spread Betting Provider at the Shares Awards

Voted Best CFD Provider, Best Mobile application, Best Cryptocurrency Trading Platform | Online Personal Wealth Awards

Best MT4 Broker | UK Forex Awards

CIty Index parent company Gain Capital

Is City Index safe or a scam?

ProsCons
Listed on Stock ExchangeNone
Part of world publicly traded company
FCA regulated
Segregated Accounts and annual reports
Cross border offering including globally regulated entities
Negative Balance Protection

Is City Index legit?

City Index and City Trading is a trading name of GAIN Capital UK Ltd authorized and regulated trading provider by the UK Financial Conduct Authority and holds additional 8 worldwide jurisdictions registrations as a part of GAIN Capital Holdings Inc, founded in 1999.

However, particularly City Index serves offices in Dubai, Singapore and Australia, while surely holding respected local authorizations by UAE Central Bank, MAS and ASIC accordingly.

Since GAIN Capital Inc is one of the largest and heavily regulated providers from almost every jurisdiction, with its strong records and the highest standards of governance, the financial strength and the transparency it delivers considered to be on the highest possible level.

City Index entityRegulation and License
GAIN Capital UK LtdFCA (UK) registration no. 113942 
GAIN Capital UK Ltd in the UAEAuthorized by UAE Central Bank 
GAIN Capital Singapore Pte LtdAuthorized by MAS (Singapore)
GAIN Capital Australia Pty LtdASIC (Australia) registration no. ACN 141 774 727, AFSL 345646

How are you protected?

As a retail client’s money is fully segregated from the broker funds and are kept separately safely with world-leading banks. Along with the rest, necessary protection procedures that are carefully followed by the company the trading accounts and overall management of the traders from A to Z adheres to provide you with a clear state of mind.

In addition, the broker applied for negative balance protection and in case of insolvency FSCS controlling clients’ compensation to recover accounts up to £85,000.

Leverage

Leverage known as a loan given by the broker to the trader that allows you to trade larger capital than the initial capital is a very useful tool, yet you should use it carefully. Recent regulatory updates from European ESMA set a maximum level to only 1:30, as the authority recognized the potential not only to magnify gains but losses as well.

Therefore, the European entity is eligible to offer a 1:30 leverage only, while the Australian branch and clients still might use leverage up to 1:400. In addition, the leverage levels are depending on the account offering, while you may face a difference in margins too.

City Index Margins and leverage

Accounts

In terms of account management it has been done in a simple, not confusing way, meaning you can apply either for a financial spread betting or CFD trading account. Furthermore, there are options between three account types while all of them are featuring the same efficiency, utmost support and technology used, but vary by the level of the trader itself.

ProsCons
Fast digital account openingNone
Three Account Types for Live Trading defined by experience
High-Volume trading account for professionals
Islamic Account
Free Demo Account

Account types

Since traders truly diverse by the experience and then the necessity of the particular service within the offering, City Index adhered to satisfy the needs of each group. Thus, you can apply for one of the three account types: Trader, Premium Trader and Professional Trader respectively.

Another interesting additional feature from the broker is Private Client Service – is a tailor-made exclusive program for active traders who fund and maintain an account balance of £10,000 or more, and it comes with highly competitive pricing, expert trading support and some interesting perks.

City Index Accounts

Demo trading

Certainly, it is important to understand the risks involved in trading before account opening, hence the broker strongly encourages new traders to practice and educate themselves by using a demo account, also how to minimize risk using the educational tools available from the broker learning programs.

City Index offers two demo accounts joint CFD, spread bet and MT4 accounts. Demo account gives 12 weeks unlimited access with a balance of £10,000, also the client will be able to access Advantage Trader or MT4 mobile, tablet and downloadable platforms according to account type.

Trading Instruments

City Index enables trading on over 12,000 global markets consisting of Spread Betting, CFD and Forex Trading for 21 global Indices, 4,500+ Shares, 84 FX pairs, Crypto and 25+ Commodities. Crypto market at City Index is also widely presented and including Bitcoin, Etherum, Bitcoin Cash, Litecoin and Ripple, with an opportunity to adjust trading strategy and start to trade as a spread bet from 10p a point or as CFD Minis.

City Index instruments

Fees

For the markets and trading conditions, the broker delivers transparent pricing model and actually offers quite competitive fixed and variable spreads starting from 0.5 pips for FX or from 1 point for Indices, with margins from 3.33%.

ProsCons
Variable or fixed spreadInactivity fee
High-volume trading proposal
Low Forex fees
Transparent fee structure
No hidden costs

Our find on Forex fees

City Index spread depending on the market you wish to trade, as well as giving you an option to choose between the fixed or variable spreads according to the strategy you prefer to use. Below you can see the comparison based on minimum spread quotes, yet for a most recent price check an official website or platform.

For instance, check out and compare City Index trading fees with its UK based peer Trading 212. Beyond Indices, FX, Shares and Commodities City Index offers an additional choice of markets to trade, including Metals, Bonds, Interest Rates and Options.

Comparison between City Index fees and similar brokers
Asset/ PairCity Index FeesAxiory FeesETFinance Fees
EUR USD0.51.20.7
Crude Oil WTI453
Gold0.30.30.37
Inactivity feeYesYesYes
Deposit feeNoNoNo

Additional charges

In regards to additional charges, you should consider that City Index charge commission when you Spread Bet or trading Shares on CFD Trading. E.g. UK Shares are eligible to 0.08% CFD Commission with a minimum of £10.

Also bear in mind the overnight fee, which is charged if you hold a position open longer than a day, financing rates are set at benchmark regional interest rate of +/- 2.5%.

City Index Spread

Deposits and Withdrawals

City Index offers the most common payment methods that will assist you to find the best suitable choice to transfer money to or from the trading account. Even though the payment methods are quite limited, they are in fact most reliable, as well as do not incur additional charges from you to transfer funds, which is definitely a big advantage.

ProsCons
Fast digital depositsDeposit fee may be applicable
Small first depositDeposits options are limited
Supporting Various Account Base Currencies
0$ free withdrawal

Deposit Options

The set of methods includes Debit card: Visa, MasterCard, Maestro and Electron, Credit card: Visa and MasterCard, or a Bank transfer.

What is the minimum deposit for City Index?

There is no minimum deposit requirement for account opening, even so the company advising to do a deposit from £100 in order to cover margins.

Withdrawals

Transactions involving card deposits and transfers for both deposits and withdrawals do not incur any charges from the company, however, if you wish to receive same day payment using a CHAPS bank transfer, there will be a £25 charge.

How to withdraw money from City Index?

The minimum withdrawal amount is £50, while the maximum amount through a single transaction is £20,000. Please note, in case you will stop trading activity a monthly inactivity fee of £12 will be applied to accounts that are inactive for 12 months or more.

CIty Index withdrawal

Trading Platforms

A variety of platforms at City Index covers web-based platform – Advantage Web platform or downloadable AT Pro platform, as well mobile or tablet apps or still remains the choice to use known MT4.

ProsCons
User friendly trading softwareNone
Variety of MT4 and proprietary Platform, AT Pro platform
Web, Mobile and Desktop platforms
Fee Report
Technical analysis and no limitation on strategies
Suitable for beginners and professional traders
Supporting various languages

Web Platform

In fact, and what is obvious the broker’s developed a platform designed as a powerful technology for whatever level of trading you are willing to perform, as it offers customizable 16 types of charts, 80 indicators and actionable trade ideas by research portal highlights.

It is web based platform allowing you to trade from any browser with no installations as a highly customizable web-based platform will be a perfect choice for those who prefer easy access and powerful fundamental analysis mixed in one tool. Eventually, for its great performance, the platform has gained several awards for excellence and has been chosen by many traders among others specifically for its outstanding capabilities.

Voted Best Spread Betting Platform | ADVFN Awards

Desktop platform

Of course, City Index mainstay platform features various versions so you can choose either to use or access the platform via various methods by the device of your choice.

Furthermore, the broker indeed pays great attention to the execution policy. If the price moves in traders favor while an order is being processed, City Index executes orders at a better price by their developed technology.

Mobile trading

Advantage trading apps are available for iOS and Android devices allowing you to live stream prices and charts also powered with Reuters news fees and economic calendar for your comfortable use.City Index platfrom

Customer Support

As for the customer support services, we would note it’s a good level and regarded support from the traders. Customer Service available for traders via phone lines, chat and emails also covering clients worldwide due to brokers’ presence and coverage of major destinations and including.

ProsCons
Quick response within working hoursNo 24/7 customer support
Relevant answers
Live Chat and international Phone lines
Contact Form online

Education

With City Index focuses on essential proposals, there is well-organized learning center designed for both beginning traders and professionals.

Education Center provides trading concepts, technical analysis and fundamental analysis, trading strategies, also trading courses defined by the trading level you are. Along with that, City Index runs regularly Webinars, and updates with Trading News and research materials covering popular and unique points.

ProsCons
Learning Center with professional education materialsNone
Demo Account
Education Courses for beginners, intermediate traders and advanced
Technical Analysis
Research tools
Expert news and analysis
Market News

CIty Index education

Conclusion

As we can conclude, City Index as a part of the global leading financial company GAIN Holding is not just a reliable and stable company to cooperate or trade with though heavy regulation and utmost client protection rules. But also broker that provides its clients with all necessary tools for potential successful trading either both beginners and the experienced ones.

A wide range of technical optimization tools, alike highly developed choice of platforms and various instruments for analysis, strategy improvements and functions bringing excellent proposal mixture to suit your particular skill level and expectations.

Yet, it will be good to know your personal opinion about City Index and their trading conditions. You may share your experience in the comment area below or ask us for some additional info there too.

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One response to “City Index”

  1. Hi, I from Malaysia, I want to ask some questions. In Malaysia have any branch or IB(persons) for support and it can withdraw/deposit transfer to local bank Malaysia(any charges)? Thanks

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