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Download the City Index MetaTrader 4 Program free of charge from Apple’s App Store. City Index customers have instant access to the Financial markets, with the ability to completely manage a Portfolio on the go. At the time of writing this City Index review, and despite City Index’s impressive offering, the company has surprisingly not garnered any awards to date. City Index acknowledges the significance of owning a quick order execution. A fast implementation will allow users to trade without fretting about slippage safely.
Other popular asset classes, like real stocks or funds, are not available. City Index’s desktop platform has the same functions as the web trading platform but lags behind in user-friendliness. First, let’s go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees. See how City Index compares to the leading Forex brokers by reading one of the reviews below.
Having a parent company listed on a stock exchange, providing financial statements and being regulated by a top-tier authority are all great markers of City Index’s safety. It offers many ways to learn, from a demo account to educational videos. At City Index, you can only trade CFDs, forex and cryptos.
City Index delivers an average spread of 1.0 when trading the EUR/USD within a standard account. The all-in cost of trading the EUR/USD with an active account is 1.0 . We were able to obtain average spread data for over 30 brokers, and found the industry averages for these data points to be 1.04 and 0.87 (all-in). Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader. Traders need to ensure that they understand their risk exposure and determine whether the risk involved is suited to them before making trading decisions that could result in loss of capital. City Index provides 2 different live trading accounts, Standard and MetaTrader 4.
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I wanted an account with NO LEVERAGE and they only told me it was on leverage after my positions were already filled. I have had a good experience moving from AT Pro to Web Trader platform. In the beginning, I spent some time to get used to the new platform, but now it is quite friendly to work with. I love trading with City Index, I have been a bit quiet lately but not a day goes by without me thinking about my platform setup. It is ok, but not as good tools as IG and others that I’ve tried like CMC. A little expensive on some spreads, but made up for by extremely good and rapid execution.
These upgrades, on top of an already well-proven system, give this version of the MT4 platform versatile function while keeping it relatively user-friendly. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. Yes; in case you were wondering, 79% of the brokers reviewed on BrokerNotes.co offer this popular feature. To learn more about social copy trading , check out our guide to copy trading.
Even if no charges have been indicated by City Index, it’s better for you to close the account if you are inactive. Inactivity fees are not only charged by broker firms but also many financial services. City Index charges a withdrawal fee when you create a bank transfer. Every time you move money into your bank accounts, these withdrawal charges become applicable. However, non-trading fees charged by City Index are comparatively competitive. As a result, you are charged more for non-trading actions in your trading accounts, such as withdrawal and deposits.
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Once again I wasted nearly an hour asking a City Index customer support person, to add a spread bet account to an already existing CFD. I was told my account didn’t exist, it did I had just placed two orders. Anyway I was on hold for another 8 minutes and then told yes they could do it. Last time I was told it wasn’t possible, three months later, by email.
Traders are constantly on the hunt for low-cost forex brokers – you can learn more about low-cost forex trading by checking out our guide to zero-spread forex brokers. Overall, City city index review Index can be summarised as a safe broker that provides competitive spreads on Contracts for Difference . It offers 1200+ trading instruments with a trust score of 94 out of 100.
More, City Index offers various support materials, not including their main library of educational resources. Traders can access tutorials on getting started via the web trader. When opening an account, traders can choose whether they want a CFD account, a spread betting account, or a single account with both products.
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We are excited to hear your client services experience with us has met your expectations and hope you continue to have a positive trading experience with us. Our customer support team is always available via phone, email, or live chat should you have any more suggestions you would like us to put forward for consideration. Andorid mobile devices and tablets are used by millions of people globally. City Index is an award-winning, multi-asset financial services provider with over 40 years of experience supporting its clients.
- Your effort and contribution in providing this feedback is much appreciated.
- The series follows a group of novice traders learning how to trade over a period of six weeks.
- The button is located at the top right-hand side of the menu on the web trader.
- City Index is an online brokerage platform, and most online brokerages charge lower prices than traditional brokerages tend to charge.
We are glad to hear you are enjoying your experience with us. Please feel free to reach out to our customer support team with any additional information or feedback you may have that can further improve your experience. I’ve used a Demo account for 3 weeks and now a live account for a few days and everything works great. I especially like the fact that you have a hedging option (which other brokers I’ve tried have not) which means I can pre set partial Take Profits. We really appreciate you taking the time to share your feedback.We arre glad to hear that we have met your expectations. We take our reputation as a trustworthy and reliable broker seriously.
With the time it takes, a wire transfer withdrawal takes up to 2 business days to complete while a credit or debit card can take as many as 3-5 business days. In some cases though, your card issuer may charge a fee. Magin and leverage limits with this account type remain the same as the other accounts. There are several different account types available at the broker so there should be something to meet your needs when trading. To this end, they ensure that you have the best possible trading environment. The company, under the name StoneX Financial Ltd. is regulated by the Financial Conduct Authority in the UK with the registration number #446717.
See all City Index’s Interest Rate Spreads
However, there is no two-step authentication available with the City Index app. The Premium Trader account is available via invitation only and provides users with the same bundle of benefits as the Professional Trader account, with the addition of better overall pricing. However, the exact terms for getting this invitation are unclear. Unlike companies such as FXCM and 24Option, City Index has never been involved in any scandals or noteworthy legal charges. They have a very good reputation and a long track record, which is not the case for most brokers in the forex world. Good range of offerings including CFDs, forex, and cryptocurrencies.
The broker makes available several key tools to help you with risk management. These are offered through your trading platform for the most part and include the ability to set stop losses to help you exit losing positions, and limit orders to help you lock in profits. The CFD trading Account at City Index is a very popular choice and grants you access to trade in more than 4,000 assets.
If you have any questions or concerns, please reach out to our support line at City Index never has down time on their live platform, and they do inform clients when maintenance will be performed. Their spread cost is very reasonable https://forexbroker-listing.com/ and the order execution immediate. The AT Pro platform is very user friendly, allows the client to customize indicators, it facilitates multiple charts well and you are able to save, import or export workspace layouts.
Is my money safe with City Index?
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. 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. It also lets you pick between a light or dark theme and between ‘one-click’ or ‘two-click’ trading.
Which really drills down into where you are trading well and where you are losing money. One example of how they are populating their platform with new trader tools is SMART Signals. MT4 is available for City Index traders – albeit with fewer markets to trade – and MT5 is expected to be available at City Index by mid-2022 (along with cash-equities in the U.K.). Until then, with the discontinuation of AT Pro desktop, algorithmic trading is limited to MetaTrader, which remains the most popular platform globally for automated trading. Pricing at City Index for trading CFDs, forex, and spread-betting products is in line with the industry average.
All in all, there’s little to worry about when it comes to trading with this broker. City Index is regulated by high-authority institutions, and its parent company, GAIN Capital, is listed on a stock exchange. This should be a positive sign, as regulation is an important consideration when selecting a broker. Most of these awards were won in the UK which is due to the company’s focus on its local audience. Although they are an international brokerage, a larger part of City Index’s client base is UK-based, so it’s no wonder why they make efforts to cater to the British trader. City Index is a well-known, trusted brokerage that’s good at just about everything.