This contrasts with other platforms such as Capital Spreads which offer a minimum of £1 per point. The 25p minimum trades are excellent for beginners because they allow you to begin trading with a smaller deposit amount and with lower risks. In addition to the desktop trading platforms, you can also trade from a wide range of devices, such as on your iPhone or iPad, or your Android mobile or tablet. This enables you to keep up to date with the markets and your spread betting positions. City Index offer prices on thousands of spread betting and CFD trading markets including indices, shares, currencies, commodities, bonds and interest rates. The City Index demo account has a virtual balance of £2,500 and gives users access to all of the platform’s features.
City Index is a CFD and forex broker.To learn more about CFDs read ourCFD trading tips. On the downside, the desktop trading platform isless user-friendly and the design feels outdated. It was hard to navigate on the platform and it felt too crammed with functions. We really liked the search eur functions of the web trading platform. You can search by typing the name of the product you’re looking for or browsing a categorized product list. It is extremely customizable.It is easy to add, remove, or change the size and position of tabs to create your own unique trading platform.
- City Index, now regulated in eight different jurisdictions across the globe, is one of the most well established and trustworthy brokerages in operation today.
- For a brokerage to maintain these services and earn revenue as a company.
- You can also use the various technical charts and tools and learn how to use them properly.
- Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field.
- When on the City Index website, you can click on “Contact Us” at the top of the page.
- More experienced traders may want to check out the City Index MT4 or AT Pro platforms.
In order to prevent users from being spoofed by phishing websites, fake URLs or domain name hijackings, WikiFX doesnt provide the content though this app. The minimum spread for EUR/USD is 0.5 points, the typical spread is 0.8 points. The minimum spread for GBP/USD is 0.9 points, the typical spread is 1.8 points.
You can also receive live news feed from Dow Jones and Reuters on your iPhone. Retail investor accounts lose money mainly due to a lack of required knowledge and expertise about trading.
City Indexs Platform And Tools
City Index doesn’t make any charges for debit card, credit card deposits or transfers and the broker also doesn’t charge for money withdrawals. There is also a monthly inactivity fee of £12 for accounts that are inactive for 12 months or more. Applications are considered from all countries, but clients from the U.S. and Canada are unable to open an account because of domestic eur financial regulations. The parent company of City Index is StoneX Group, and previously it was owned by GAIN Capital. And apart from this, due to the integration of GAIN Capital into the StoneX Group, City Index can deliver an even more comprehensive offering to the customers. As is seen from the review, City Index offers industry-leading and competitive fees and commissions.
TopBrokers.com will not accept any liability for loss or damage as a result of reliance on the information on this site. Forex pairs, cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money.
Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically. A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged. They operate on multiple platforms and devices and are a well-established, regulated firm. These are indicators of a trustworthy broker, but the broker’s suitability depends on the individual trader’s needs.
See All City Indexs Forex Pairs
All money funded to City Index is placed into a segregated tier 1 bank account. this means your money in not held by City Index directly but a tier 1 bank. The broker has no direct access to your forex funds so cannot misappropriate your money. Also City Index is regulated by Financial Conduct Authority , Australian Securities and Investments Commission , Monetary Authority of Singapore .
The platform for the app version is lacking in the latest technologies. City Index also City Index Review does not offer a volume indicator against the comprehensive analytics offered by eToro.
Web Trader Platform Review
City Index also makes it simple to stay on top of your funding and finances with safe and free deposits and withdrawals. It also offers a secure funding portal where you can view your funds and submit deposits and withdrawals. City Index provides account holders with real-time financial data, news, and market reports from Reuters, incorporated right into the trading platforms. There is also a customizable City Index economic calendar, which is designed to help traders understand market-moving events, so they can plan their trading strategies better. The economic calendar has color-coded dots for high, medium, and low volumes, as well as categories for actual, consensus, and previous figures. Of course, it also displays the name of the event, the country, and the date and time.
This means City Index fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes. City Index leverage magnifies both profits and losses when trading. City Index offer CFD which are a leveraged product for this example we describe ten times leverage. Download the Metaquotes MetaTrader 4 Program for free of charge from Apple’s App Store. IC Markets customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go. You can download the City Index app or also trade with City Index through the MetaTrader 4 application on the Apple app store.
There are several categories to the education and training module of City Index. A City Index review shows that retail investor accounts are only available to professional traders on the AT Pro. However, this information is not in conformity with the other site disclosures, and an inquiry has concluded that professional status is not required to use this very user-friendly desktop software.
City Index Trading Tools
On a practical day to day level, the most obvious difference between the two firms is that IG offers physical share dealing and other investment services whilst City does not. Both brokerages are aimed at clients at all stages of their trading journeys from newbies through to pros, though City’s educational offering is probably more approachable as far as novice traders are concerned. There is a nice mix of written and video content that can provide a solid grounding for those that are interested in learning about trading. And all of the content is available for free and without the need to open an account to be able to view it. Spread Bets at City are available on equity indices, single name stocks and ETFs, Commodities bonds and interest rates and FX. City also has an options desk that makes Spread Bet prices for various options markets.
City Index was initially a spread betting brokerage which expanded to CFD trading in 2001 and forex in 2006. City Index is headquartered in London and has offices in a wide range of countries including UAE, Australia, and Singapore. This City Index review has considered a wealth of factors for understanding whether this derivative brokerage firm offers the best platform for spread betting and trading forex and CFDs. The prime consideration has been the safety and regulation of the forex broker and the extent to which it offers investors protection. Another consideration was the number of altcoins on offer and the range of cryptocurrencies offered. Finally, we also considered other factors like payment methods, registration steps, and account types.
MT4 has a separate demo account, which contains £10,000 in ‘virtual cash’. City Index has a Premium Program, which is by invite only (however City Index says that a first step is to be an active trader and maintain an account balance of £10,000+). It offers a dedicated manager, priority service, broker assisted dealing, invitations and research.
Below you can see how CityIndex scored in each of our high-priority categories. Clicking on the category for Company Earnings will show you the dates that major companies release or released their earnings reports, with the companies divided into the UK, the U.S., and the EU. Clicking on the Daily Briefing Video will take you to a page titled “The Day Ahead.” This takes you to a video outlining the day, including the biggest moves during the week in the markets. Below the video is a list of key topics/markets covered, as well as at what time in the video they are overviewed. This means you do not have to watch the whole video if you are only interested in a few of the markets.
Minute Review
Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account. City Index is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as City Index you should be sure they’re legitimate online agent. Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with.
As such, they are required to consistently meet the highest standards for corporate governance, disclosure, and financial reporting. There are no commissions when trading forex and most CFDs at City Index, except for share CFDs. The commissions for share CFDs vary based on the region, as well as which country you opened your account. This is clear from the fact that it is regulated by the FCA, ASIC, and MAS. Additional reassurance comes from the fact that the broker is far more experienced than many other brokers, and that it is owned by a publicly listed company.
This concludes our lengthy review of City Index trading platform. Throughout our little data-collecting section, we discovered that this is a platform with a strong pedigree. As always, do your own due diligence, but do consider making City Index the future home of your trading activity. Options – Options are contracts that give the bearer the right, but not the obligation, to either buy or sell an amount of some underlying asset at a pre-determined price at or before the contract expires. Options can be traded either through spread betting or CFD trading with spreads starting from 4 points. There are a number of markets currently available on City Index, including UK 100, Germany 30, Wall Street, Australia 200 and others. City Index has some additional trading perks, including the ability to transfer unrealized profits from your open positions into margin for new positions, giving you excellent flexibility as a trader.
