City Index is a high-caliber provider of spread betting, and contract for differences trading, hailing from the United Kingdom. Founded in 1983, the company boasts more than 35 years of experience in this field, which alone is quite impressive. Its platform is preferred by traders because of its fast and highly reliable service.
Clients have access to a vast assortment of trading instruments, with more than 12,000 available markets for Forex, stock shares, indices, and commodities. In addition to this broad market portfolio, City Index provides its customers with various educational tools that can help them become sharper traders.
In 2014, City Index was acquired for $118 billion by the US-based giant GAIN Capital, the same company that stands behind the operations of the leading exchange trading brand FOREX.com. At the time of the acquisition, City Index boasted around 104,000 active retail accounts.
The firm continued to grow following the purchase, providing clients with tight spreads, a robust platform, and various analytical tools that cater to a wide spectrum of traders, from novices to well-financed professionals.
City Index is a haven for all traders and investors alike. Its operations are subject to the regulations of the UK Financial Conduct Authority. It services customers based in Australia under the oversight of the local Australian Securities and Investment Commission. The broker also has authorization from the Monetary Authority of Singapore (MAS).
As we mentioned briefly, City Index operates as part of the reputable company GAIN Capital Holdings Incorporated, which is listed on the New York Stock Exchange. This is a leading provider of trading solutions that specializes in OTC and foreign exchange markets although it also has retail and futures segments for the US and European exchanges.
The brokerage company is also associated with the UK Financial Services Compensation Scheme (FSCS). This means that if City Index went into liquidation, customers would be entitled to a compensation of up to £85,000. With that said, City Index segregates the money of traders from the firm’s funds. They are kept in a separate bank account to protect against insolvency.
City Index’s award-winning platform offers more than 12,000 global markets for Forex, CFD, commodities, and spread betting. The latter could be a beneficial alternative to standard CFDs if you are based in the UK because it comes with certain tax efficiencies for residents of the country. Below, we list all trading instruments available at City Index in further detail.
City Index enables trading with 84 currency pairs, including major ones like USD/JPY, GBP/USD, and EUR/USD, with quick execution and competitive spreads that start at 0.5. Minor and exotic pairs are also among the options for Forex traders.
The platform provides its clients with several ways to trade Forex, including CFDs and spread betting. If you reside in the United Kingdom, we suggest you choose the spread betting Forex option because the profits you generate are exempt from capital gains taxes. The latter are imposed on profits realized from selling non-inventory assets like stocks, bonds, real estate, and precious metals.
Trading Forex is associated with many lucrative opportunities since currency markets remain open around the clock during business days. Being the most liquid market in the world, Forex allows investors to trade directly with each other instead of having to rely on a given centralized exchange.
At City Index, Forex traders face minimum spreads of 0.5 for major pairs like EUR/USD and AUD/USD while those for GBP/USD and EUR/GBP are slightly higher at 0.9. These figures apply to retail customers. Experience investors get the chance to open Professional Trader accounts where they will benefit from lower margins and spreads.
City Index clients have a choice from spread betting and CFD trading with major cryptocurrencies like Bitcoin, Ripple, Bitcoin Cash, Ethereum, and Litecoin. Spread betting is the more popular option among those who trade with this platform. It offers multiple benefits, including the absence of commissions and taxation.
You can trade on price fluctuations, having a choice from buy or sell positions. In essence, you speculate on whether the value of the cryptocurrency will appreciate or depreciate. You need to select a stake size, i.e. how many currency units per point to risk on these price movements. For each point the cryptocurrency value moves in the direction you predict, you collect a multiple of your stake if the price moves in your favor.
The second option for cryptocurrency traders who join City Index is CFD trading. Be mindful of the fact CFDs are highly volatile instruments because of leverage. As much as 72% of retail investors who trade CFDs with City Index end up losing money.
Traders can go both long or short, taking advantage of the platform’s tight spreads for cryptocurrency trading. There is no need to own any cryptocurrencies yourself. Margin rates for retail customers are set at 50%, with spreads ranging from 0.5 to 35, based on what cryptocurrency you trade.
At City Index, you can also trade shares as spread betting or CFDs, having a choice from more than 4,500 global companies from Europe, the USA, Australia, and Asia. The spreads are quite competitive starting at 0.1% each side for UK shares. Both long and short positions are offered for major companies.
Some of those include Apple, Amazon, Barclays, Chevron, Adidas, Facebook, and General Motors, among many others. The margin for shares trading is 50% for standard and premium trader accounts.
Index trading is yet another alternative for investors who choose City Index. Here you can place orders for 21 major global indices including the FTSE 100 Index, the DAX, Wall Street, Australia 200, France 40, and the Euro Stoxx 50. Margins start at 5%, with fixed minimum spreads of 1 point.
Additionally, you can speculate on 14 UK sector indices, with the option for spread betting or CFD trading. The margin for sector indices is 10%. You can also count on the quick and reliable execution of your index orders.
Sector indices enable traders to speculate on an industry-wide trend without the need to take multiple equity positions in the respective sector. Experienced investors resort to sector indices for the purposes of volatility management, securing sources of liquidity, and hedging equity positions.
Other Trading Markets
City Index also offers spread betting and CFD trading with interest rates, bonds, commodities, and options. Here you can speculate on the price movements of base and precious metals like platinum, gold, palladium, copper, and silver against the USD.
Spreads range from 0.3 to 40 points, with margins of 5% for gold and 10% for the rest of the available metal markets. This instrument is often considered a haven for investors, especially during periods of heightened volatility. The prices are driven by different factors including supply, demand, and geopolitical risk.
US and UK crude oil and natural gas are available to investors who join City Index. Trading with soft commodities like sugar, wheat, cotton, corn, cocoa, lumber, orange juice, soybeans, oats, and coffee is also possible with this broker. The platform features additional exotic commodity markets such as lean hogs and live cattle.
Bond trading is available, with customers being able to take positions on markets like the Euro Bund, the US T-Note, the US T-Bond, and the UK Long Gilt at a 20% margin. All of them offer deep liquidity and high daily trading volume.
Those looking for versatile short-term opportunities can try trading on the price fluctuations of interest rates. City Index offers competitive spreads, giving traders the option to go long or short on these markets.
Trading with call or put options is yet another alternative. Experienced investors often incorporate options into their trading portfolios for the purposes of risk management. With this financial derivative, you can buy or sell assets at a predetermined strike price before the specified expiry date.
Unlike futures, here the trader is not obliged to take delivery of the assets upon the expiry of the option. At City Index, there are quarterly, monthly, and daily options for different classes of assets such as indices, commodities, and currencies.
Customers of City Index have a choice from several trading platforms, including the commonly used MetaTrader 4, the AT Pro platform, and the WebTrader. There are options for all trading styles. If you are looking to take your trades on the go, you can do so with the help of the dedicated apps for Android and iOS.
At City Index, you can download and install the world’s most popular trading platform, MetaTrader 4 (MT4), at no cost. It is compatible with desktop computers, smartphones, and tablets. For desktop, you need Windows 7 or a later version of the operating system as well as 1 GB of RAM.
This trading platform stands out with high efficiency and is easy to utilize. MT4 is equipped with an array of useful features, which are further enhanced by the excellent pricing and service of this broker.
Expert Advisors are among the most beneficial features. They enable you to download automated strategies or upload your own via the MetaQuotes Language 4 tool. The platform has more than 65 technical indicators that allow traders to review and analyze price fluctuations and trends. The indicators are customizable so they can suit everyone’s needs.
Those who install the platform also have access to a broad range of charts, drawing tools, and timeframes. The customizable economic calendar gives valuable insights into important events that influence market price movements. With its help, you can better plan what trading strategies to use.
The AT Pro Trading Platform
More advanced traders who join City Index can install the AT Pro desktop platform. This one is packed with many powerful tools that help investors analyze the markets. You can create your very own trading templates using the C# language, the .NET software network or Visual Basic.
Professional traders are armed with great charts and over 100 technical indicators to identify trends and lucrative trading opportunities with. Additionally, there is a back-testing tool customers can use to compare how different trade signals have performed historically.
Said trading signals can show you prospective trade entries and exit points. There is also the option to trade directly through a chart. Speaking of charts, the AT Pro supports a variety of chart types including candlesticks, and Heikin-Ashi.
Traders will benefit from a comprehensive range of drawing tools which can help them spot important support and resistance levels. Charts are configurable – you can change colors, time intervals, and indicators for a fully customized experience.
Traders who are reluctant to install downloadable software can still trade with City Index via its web-based WebTrader. It is built on HTML5 which allows for optimal performance, more flexibility, and quick execution of your trades.
This option is more suitable for casual traders because it does not feature as many indicators as the downloadable desktop software. Nevertheless, there are tons of benefits the browser-based platform offers, including trading through charts, drawing tools, custom indicators, and in-depth information that can make you make better-informed trading decisions.
Mobile Trading Apps at City Index
City Index enables you to take your trades on the go via cleanly designed mobile apps for iOS and Android. You can rely on a hassle-free mobile trading experience no matter whether you are funding your account, browsing the latest news and financial reports on the live Reuters feed or checking the economic calendar for lucrative opportunities.
The apps boast tons of cool features including full-screen TradingView charts, configurable charts, and more than 60 technical indicators. You can keep a close watch on the markets you are interested in with the help of the customizable watch-lists.
Dealing with a single tap on your touchscreen is possible and so is hedging your existing portfolio. You can simultaneously open short and long positions for the same market. There are various tools that further order execution. You can consolidate your risk-management strategies with guaranteed and trailing stops or close out your orders incrementally.
The apps can be downloaded for free either from the Apple Store or Google Play, depending on your mobile OS. As for compatibility, you need iOS 10.3 and later or Android 5.0 and up. Multiple languages are supported on mobile, including English, Polish, Chinese (simplified and traditional), Arabic, and German.
Traders can fund their live City Index accounts with several reliable and efficient banking methods. You can use a debit or a credit card by Maestro, Visa or Mastercard. Another option is to top up your balance with the PayPal service as long as your e-wallet account is set up in GBP, USD or EUR. The deposit amount will then be converted into the base currency of your City Index account. Deposits with bank transfers are accepted as well.
There are no additional charges for depositing on City Index’ side but you may be charged extra by your card issuer. Each customer is allowed to register no more than three cards per account at any given time.
Always ensure you have enough money in your balance to prevent margin calls. City Index recommends that you fund your account with at least $100 so you can cover the margin of your first deal. The limits for deposits with PayPal range from $10 to $50,000 per transaction.
Withdrawals from your account are free of charge. How long you will have to wait for your money depends on the method you use. There is a timeframe of 3 to 5 business days for card withdrawals. Domestic bank transfers take 1 to 2 business days. The minimum on withdrawals is $50 while the upper limit is set at $20,000.
At City Index, there is an account type to suit the needs of every trader. Keep in mind that if you are a complete beginner, they might refuse to let you sign up for a live account. In the registration form, you have to provide information about your experience level, your knowledge of CFDs and spread betting, and your annual income and savings. All of these things are factored in during the approval process.
Customers who are new to trading can begin by setting up a free demo account to get a proper feel of how City Index works. This will give them unlimited access to the trading service for twelve weeks.
The demo account is topped up with $10,000 but this is only virtual money you can use to build on your trading experience. Other than that, the demo supports the same tools and features as those in the live accounts.
Note that you can register an account either for spread betting or for CFD trading. Just tick the corresponding box in the registration form. New traders have a choice from three base currencies when signing up, GBP, EUR, and USD.
Retail Trader Accounts
City Index gives you the option to set up a retail Trader account, which is suitable for both new and seasoned investors. This type of account offers many benefits including better risk management with negative-balance protection, which prevents clients from losing more than they have initially deposited.
With Trader accounts, you will enjoy quick execution, over 12,000 trading opportunities, 24-hour service, 16 different types of charts, and more than 80 technical indicators. Retail traders can broaden their strategy scope with the help of various educational resources and market analysis tools.
Leverage for retail Trader accounts is based on what one is trading as follows – 30:1 for major currency pairs, 20:1 for major indices, 10:1 for commodities, 5:1 for shares, and 2:1 for cryptocurrencies.
Premium Trader Accounts
If you are looking for more advanced features, it is recommended to open a Premium Trader account. You have access to the same trading opportunities, 80 indicators, advanced trading tools, 16 types of charts in HTML5, the Reuters news feed, and one-click trading.
The economic calendar can be filtered based on country, volatility, and category. Additionally, you will benefit from the services of a dedicated manager, a loyalty rewards program, and hospitality events. The leverage and margins for the instruments coincide with those in retail Trader accounts.
Professional Trader Accounts
Traders with significant experience can qualify for Professional Trader accounts after meeting specific criteria outlined by City Index. This account type comes with broker-assisted trading and the service of a professional client-relationship manager. However, there is no negative balance protection here and the leverage for the available instruments is higher.
To become eligible for one such account, you need to register a significant annual trading volume and expand your financial instruments portfolio to $500,000 or more. By significant trading volume, we mean at least ten quarterly trades amounting to $10,000 for equities and $50,000 for the other instruments.
Another condition is to have occupied a professional position in the financial sector for at least a year. The margins for professional accounts range from 0.25% to 5%. The leverage is 20:1 for cryptocurrencies, 33:1 for shares, 200:1 for commodities, and 400:1 for Forex trading.
City Index provides competent customer support you can contact at all times for queries and assistance. We suggest you use the live chat which is the quickest and easiest way to reach them. The service is available in different languages.
The brokerage company accepts queries over the telephone as well. International customers can call +44 203 194 1801 while those based in the UK can dial 0845 355 0801 and will be charged at local rates. Emailing them at email@example.com is also an alternative.
Before you seek help, we suggest you take some time to look through the detailed help section on the website where you will find exhaustive information about everything from account management and payments to a glossary with trading terms.
To wrap things up, City Index poses as a great fit for novice traders looking to hone their skills and knowledge. This broker is also suitable for experienced professionals who will benefit from various advanced trading tools.
The platform also hits all the rights spots when it comes to user-friendliness, diversity of markets, research tools, and quality customer support. The association with the renowned GAIN Capital further consolidates City Index’s position as a solid and trusted broker.