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Filter according to broker or product type, including stocks, futures, CFDs or crypto. As you can see from the table above, the trading costs on CityIndex’s live account are 5 USD, which is significantly lower than other brokers, but this is based on the minimum spread. The spread at CityIndex is variable and gets wider or tighter depending on trade volume and market volatility.
City Index customer support is multilingual, available 24/5 and in place for existing and potential traders both. You can access customer care through online chat, email, phone or even social media like Twitter. While it can take longer to connect to agents for a live chat at odd hours, most other times, it is said to be quick. The City Index trading platform also comes with a help and support section on the site.
While the mobile app does not require installation and comes with a heat map and watchlist feature and more than 80 types of technical indicators, the MT4 is a better bet for experienced traders. The customisability of the Advantage Web platform is limited to the layout. Additionally, you cannot log in through a mobile web browser, only the app. Additionally, the research portal cannot be accessed through the app.
Some of the most overlooked trading costs are the non-trading fees that are charged by brokers. These fees can significantly affect your profitability and so should be carefully scrutinised. CityIndex’s non-trading fees are lower than other similar brokers. CityIndex’s fee structure is transparent, and it publishes the live, minimum, and average spreads on its website.
Portfolio and fee reports
I put a stop at where I got in and suddenly I was closed-out. When I called to ask what had happened, I was told that the market spiked exactly 60 point up!! Clearly it is your index and simulates the real market as you permit. The product portfolio is limited, stock CFD fees are quite high and the desktop platform lags behind its competitors. City Index is a brand of StoneX Group Inc., a US-based investment company. This is important as a strong parent company lowers the chance that the company will go bust.
The execution of the trade policy of City Index trading platforms is one of the fastest in this category. One of the forex broker UK – City Index offers the facility of going long and short simultaneously, a wide spectrum of flexible order types, and price improvement technology. Trade more than 12,000 global financial markets with City Index. Join over 115,000 traders who trust us to provide a best-in-class CFD trading and spread betting service. CityIndex’s market analysis is curated by a team of renowned markets analysts and professional traders that provide 24/5 market news coverage and actionable financial commentary. Recognised by the global industry community, its Research Team is frequently featured in world-leading publications.
Please note, you’ll still have to login to the MetaTrader platform to place trades and view existing positions and orders. The team of analysts at City Index provides daily analysis integrated into the flagship platform of City Index. There is also a continuous stream of critical financial inputs from Reuters. If you want to receive trading ideas straight to your phone on the go to prevent losing your money, you can refer to an economic calendar powered by FxStreet and receive SMS notifications.
City Index provides rich education and training content that will help avoid investors’ accounts lose money, regardless of whether they are beginners or professional traders. There are several categories to the education and training module of City Index. AT Pro Desktop – This platform is primarily for professional traders who are willing to take the high risk. There are about 139 charting indicators and 25 drawing tools and automated trading functions on the Development Studio. Top-of-the-line features include the capability to backtest potential strategies to avoid the high risk of losing money.
Annual membership fees? Nope
For a dormant account without any transactions for a year or more, a £12 fee is levied per month. All fees and commissions charged are transparent and are elaborated in fine detail on the pricing page. The GAIN link is very evident in the high operating efficiencies of City Index. A striking product catalog and a lightning-fast trading interface are some of the other optimized features of City Index. However, after the integration of GAIN Capital into the StoneX Group, we can deliver an even more comprehensive offering to our customers by leveraging their capabilities and ecosystem of products. However, read the below content to get an honest City Index review with its features, services, customer support, fee section, and more.
For example, if you are from the UK, you will sign up with StoneX Financial Ltd. and will be eligible for investor protection of £85,000. StoneX Financial Ltd. is regulated by the FCA, the UK’s financial authority. City Index’s customer service is not fully 24/7, but is available why do forex traders fail 24/5 from 5 p.m. City Index is a CFD and forex broker.To learn more about CFDs read ourCFD trading tips. We really liked the search 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.
Deposit fees and options
CityIndex’s trading fees are lower than other similar brokers. Yes, CityIndex is a safe broker for British traders to trade with. Founded in 1983 in London, CityIndex maintains regulation from multiple top-tier regulators, including the UK’s FCA, ASIC of Australia, and the MAS of Singapore.
Risk capital is money that can be lost without jeopardizing one’s financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. There may be a number of reasons why your withdrawal process has been delayed.
It is a potent combination where you get the advantage of GAIN’s standing and trust in the market and the four decades of Capital Index experience. Video Module – Six videos are available as a training tool, and a television show for beginners is spread out over 6 weeks. Generally, investor accounts lose money due to a lack of skill sets of traders. Top traders provide tips in this video content, which is also available on YouTube. This is a critical reason why City Index should be the provider you should consider to pick up the intricacies of a trading platform. Investor accounts lose money when there is no adequate customer service and support to back traders.
Like many other large market maker brokers, CityIndex offers one live commission-free CFD account and one demo account. The account is available on both MT4 and on CityIndex’s proprietary web trader platform. City Index also offers an MT4 platform which is the company’s dedicated FX trading platform.
City Index has a standard trading account only and two types of demo accounts- one for City Index and the other for the MT4 platform. Traders can further only use the demo account for up to twelve weeks though these come with GBP 2,500 virtual balance and full trading platform access. The MT4 demo account comes with GBP 10,000 virtual balance and 100% access to forex markets. City Index also offers three platform suites 2 are proprietary while one is the famous MT4 platform by MetaQuotes. The proprietary AT Pro comes with software support for Windows desktop and automated trading with 100 preloaded strategies. AT Pro is better suited for advanced traders because it is extremely complicated.
But it is advisable to avoid this platform as Adobe Flash is not supported by most browsers today. Flexible Trading – You can add to or close out your trade in increments, helping you to scale up and down in trading easily. The choice is on you to close out a trade on a first in first out pattern or on a non-FIFO basis.
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CityIndex is a safe broker for British traders to trade with. It maintains regulation from multiple top-tier authorities, including the FCA of the UK, ASIC of Australia, and the MAS of Singapore. CityIndex’s market analysis materials are detailed and well-structured, and much better than what is usually available at other brokers. CityIndex’s trading tools include technical and fundamental analysis by Trading Central, advanced charting powered by TradingView, Reuter’s News, and SMART Signals. GTX – The GTX electronic communications network is owned by GAIN Capital designed to offer a pool of FX liquidity from both anonymous and disclosed liquidity providers to institutional traders. Forex.com – Foreign exchange broker Forex.com was founded in 2001 and is part of the GAIN Capital Group.
Traders should note that signal trades will not automatically close at the end of the signal period. Unlike other brokers that charge fees for deposits, withdrawals, and on inactive accounts, CityIndex does not generally charge any non-trading fees. On this basis, we consider CityIndex a safe broker for British clients to trade with.
City Index is the trading brand of StoneX Financial Ltd., whose parent company StoneX Group Inc. is listed on the NASDAQ Stock Exchange. The company is regulated by top-tier financial authorities,such as the UK’s Financial Conduct Authority , the Australian Securities and Investments Commission and the Monetary Authority of Singapore . Hone your trading skills with our free educational resources designed for experienced traders and get the most from every trade. Customer support is complemented by an extensive FAQ section covering account management, platform tutorials, funding and withdrawals, financial terms, and the costs of trading. CityIndexoffersa much broader range of tradable instruments than other similar brokers, including over 84 Forex pairs and 4500 share CFDs.
CityIndex Base Currencies Trading Account Currencies
Founded in 1983, CityIndex is one of several brokers that pre-dates the internet and the subsequent online trading boom. Owned by NASDAQ-listed StoneX, CityIndex is a good broker for traders looking for simple account options and a large range of financial instruments on the MT4 trading platform. Retail investor accounts lose money mainly due to a lack of required knowledge and expertise about trading.
A bank transfer can take several business days, while payment with a credit/debit card is instant. You can only deposit money from accounts that devops organization structure are in your name. City Index charges no deposit fees.Besides bank transfer, you can use credit/debit cards and PayPal to deposit funds.
The history of City Index goes back almost four decades to September 1983. Chris Hales and Jonathan Sparke founded the company and started trading and offering spread betting in March 1984. The CFD wing of the company was launched in 2001 in the UK. In 2005, City Index platform acquired IFX Group, which included sister concerns forex broker IFX Markets and Finspreads.com, an established spread betting provider. From this point on, City Index grew exponentially and opened offices in Singapore, Shanghai, and Sydney, mainly to cater to the clients in the Asia Pacific region. Compare selected brokers by their fees, minimum deposit, withdrawal, account opening and other areas.
We strive to provide efficient and quality customer support for our clients. Although we take pride in providing valuable support, we can understand that we can always improve. To help us do that, please reach out to our support team by phone, email () or live chat, and our Specialists will be glad to assist you with any inquiries.
We stand behind every trade we execute; if we find that your position was stopped out improperly, we will always do our best to reconcile your account. I have been using the platform for several years, on and off. We tested it and collected the options and costs in How to withdraw money on City Index. Is City Index legit features all the key aspects you need to look at to see if a broker is safe and legit. Here’s our expert view after checking the City Index trading app. City Index was established in 1983 and was acquired by GAIN Capital in 2014.
If you have any questions, please feel free to reach out to our support team by email No urgency to resolve in a volatile market but they blame Braintree for not processing payments, interesting that they can still process deposits. In response to making a negative review my account was closed.
Once the account base currency is set, you can fund your account only with the same currency. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee. In the sections below, you will find the most relevant fees of City Index for each asset class. For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates. Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.
For example, you cannot view technical and fundamental analysis jointly for each. Topics include introductions to spread betting, CFD trading and shares, forex, and commodities. Spread betting, as well as CFD trading with the exception of shares, is commission-free for City Index trading investors. The commissions for share CFDs are, however, extremely expensive and minimum charges are costlier than average.
At StoneX, we believe in connecting every company, every organization, every trader and every investor to every advantage they need to succeed in today’s global markets ecosystem. City Index may be a user-friendly spread betting and CFD trading provider, but it’s a dead waste for cryptocurrency traders. There are only 5 options – Bitcoin, Bitcoin Cash, Ripple, Ethereum, and Litecoin. Additionally, competitive platforms like eToro offer as many as 13 cryptocurrencies for traders.
It usually takes minutes to fill out, and we process most applications almost instantly. However, we may require additional information in order to create your account. Additionally, City Index is a co-founder of theAustralian CFD and FX Forum, which works to continuously raise industry standards to fully protect all clients’ funds. Live TradingView charts, allowing you to plan your next trade with full-screen TradingView charts and 60+ technical indicators. CityIndex has a very limited number of base currencies compared to other brokers. The account opening process at CityIndex is fast, fully digital, and hassle-free.
You’ll need to ensure that you have sufficient funds in your account to cover your margin requirement at all times, with some extra in case your positions go against you. Manage your account and trade on the go with ease, with one-touch trading and lightning-fast execution. Under the Market News & Analysis tab, you will find coinsmart review a section devoted to daily research and fundamental analysis of news events. This is updated frequently by a small team of City Index analysts and covers all the asset classes tradeable at City Index. Articles can be filtered by topic, author, and asset class so finding relevant Forex news and analysis is not difficult.