City Index Review + 2024 Analysis For Retail Forex Traders

In conjunction with our sister site, ForexBrokers.com, we’ve published well over 100,000 words of research and collected thousands of data points across hundreds of variables. Our in-depth trading guides are created with the same rigorous, data-driven approach. Overall the City Index trading platform is very intuitive to use and it has a clean, clearly laid out interface making it suitable for beginners who want a simple platform with trading signals.

1. After providing this information, City Index will proceed to close your account.
2. City Index’s parent company is the StoneX group which also owns another global broker in Forex.com.
3. In doing so, we often feature products or services from our partners.
4. 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.
5. City Index provides 2 different live trading accounts, Standard and MetaTrader 4.

These include all of the global majors from the US, the UK 100, and Germany 30 as well as others. 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. Visa, MasterCard, Maestro, and Electron are all supported by the broker, and deposits using your credit or debit card are completed instantly. To this end, they ensure that you have the best possible trading environment.

In a break from the norm, City Index’s Trading Academy is a video series produced in the style of a reality show. The series follows a group of novice traders learning how to trade over a period of six weeks. City Index also produced its Celebrity Trader series, where celebrities share their own trading tips and tricks. Archived webinars such as the “Become A Trader” series are also available on City Index’s YouTube channel.

What Extra Trading Services does City Index Offer?

This account includes a risk management feature with negative balance protection so that you never lose more than you deposit and margin close-out as standard. The powerful City Index Advantage Web platform features advanced customisable charts with a range of intelligent trading tools and custom indicators. It incorporates fast and reliable HTML5 technology for a reliable trading experience. You can configure and personalise multiple workspaces with the ability to switch between workspaces in a single click.

Beginner’s Guide to ATFX Broker: Complete Review

There are also 360-degree market view pages, helping you find key trading opportunities, see market analysis from Reuters, and view the latest market details with pricing, news, and charts. Especially for beginners, they have a prudent education system and provide free demo accounts. They will guide you with technical analysis and keep you updated on news of top-notch agencies like Reuters. Once you open an account with City Index, it will initiate your self-learning phase. Shortly, you will be able to make informed decisions and improve your strategies with the excellent range of provided tools. You will find they have very competitive fees and a great range of Trading Products that you can access on powerful yet user-friendly platforms for all of your desktop, web and mobile devices.

On the other hand, Forex.com is one of the few options for forex traders in the USA. City Index is a credible source to rely on in terms of learning and education in trading. Even if you are a beginner, https://broker-review.org/ you can go to the website and learn from their shared lessons. You may have to compromise the fundamental data on assets, yet the technical data is fully furnished, and you can learn for free.

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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. Traders are able to speculate on a broad array of bonds and interest rates including US T-notes, UK Long Guilts, Euro Bund markets, and Eurodollar and Euribor rates.

FXView Minimum Deposit

It’s actually well thought out and although bot-led the ten top-tips would help novice and experienced traders familiarise themselves with the platform. The trading desktop provided by City Index allows for more personalisation than those at most other brokers. This proved to be much more useful than first thought, particularly during times when markets were fast-moving as the colour coding helping with instant recognition of markets and instruments.

The spread here remains tight and starts from only 0.5 pips with the average spreads being 0.8 pips on the EUR/USD, 0.9 pips on the AUD/USD, 0.8 pips on the USD/JPY, and 1.8 pips on the GBP/USD. Given that it is spread betting you also will not have to pay UK Capital Gains Tax or Stamp Duty. The minimum trade size here is low and accessible at just 50p per point, and no commission is charged. Beyond just the regulated environment, you can rely on great protection of your funds at the broker. They use segregated accounts to protect your money and also offer negative balance protection under FCA, and now under ASIC regulation since March 29th, 2021.

Accounts opened in Australia are regulated and authorized by the Australian Securities and Investments Commission (ASIC), which does not include a deposit compensation scheme. Accounts opened in Singapore are authorized and regulated by the Monetary Authority of Singapore (MAS) and do not offer a deposit compensation scheme, either. The Financial Conduct Authority city index review (FCA) regulates and authorizes City Index. Thanks to this regulation, traders can count on City Index to follow the client money rules of FCA, including segregating client money. Additionally, clients can receive compensation of as much as £85,000 from the Financial Services Compensation Scheme (FSCS) in the unlikely event that liquidation occurs.

City Index’s application presents products and asset classes in a non-pretentious format. Products can be navigated by scrolling through the screen, and trades can be executed in just a few taps. There is no minimum deposit — City Index recommends $/£/€100 as a starting point.

More than 20 options markets are available with daily, monthly, and quarterly options contracts tradable and low starting spreads. This spread can start from as low as 1 pip on options like the UK 100, Germany 30, and Australia 300, and from 1.6 pips on the S&P 500. These include the UK Gilt from a spread of 0.03 pips, Euro Bond from 0.03 pips, and the US T-Bond, and US T-Note both with a spread from 0.02 pips. Variable spreads can change throughout the day based on underlying factors as you would expect. These can include market liquidity, volatility, and other issues though tight spreads are generally on offer.

City Index enables you to practice on demo accounts and enjoy almost zero commissions. The minimum deposit requirement is as low as 100$, which is very reasonable when compared to their direct competitors. Traders are treated to a well-regulated trading environment, a competitive pricing structure, and an excellent trading platform.