City Index Review 2024
Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Our comprehensive review of City Index shows that it is a great option for both forex and CFD trading. Thanks to its robust offerings and sterling reputation, we believe it stands out as a competitive choice for traders.
Overall Rating
Minimum Deposit
Trust Score
Pros and Cons
Pros
- Regulatory Assurance: Fully regulated by key authorities including ASIC, MiFID, and FCA, ensuring high standards of safety and fairness.
- Wide Range of Markets: Provides a vast selection of over 13,500 tradeable symbols and 84 forex pairs.
- Mobile Trading Excellence: The mobile trading apps are highly rated, offering seamless trading on the go.
Cons
- Inactivity Fees: Charges fees for inactivity, which could be a drawback for sporadic traders.
- EUR/USD Spread: Higher than the industry average for a standard account, which might affect cost-efficiency for frequent forex traders.
- No MetaTrader 5: Does not offer MetaTrader 5, a con for users preferring this platform.
Ratings Summary
- Investment Types - 9.5/10
- Commissions & Fees - 9.0/10
- Trading platforms - 8.5/10
- Research - 8.5/10
- Mobile Apps - 9.5/10
- Education - 9.0/10
- Overall - 9.3/10
Can I trust City Index?
Our evaluation confirms that City Index is highly trustworthy: it is a publicly traded company and authorized by major regulatory bodies including ASIC, MiFID, and the FCA. It has a trust score of 99 from ForexBrokers.com which categorizes it as "Highly Trusted."
City Index is currently licensed and/or authorised by the following regulatory bodies:
- Tier-1 Regulators - Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), Canadian Investment Regulatory Organization (CIRO), Japanese Financial Services Authority (JFSA), Commodity Futures Trading Commission (CFTC) , and regulated in the European Union via the MiFID passporting system.
- Tier-2 Regulators - Dubai Financial Services Authority (DFSA)
- Tier-3 Regulators - None
- Tier-4 Regulators - Cayman Islands Monetary Authority (CIMA)
Is City Index good for beginners?
Yes, City Index is well-suited for beginners, offering extensive educational content and support.
| Feature |
City Index
|
|---|---|
| Education (Forex or CFDs) | Yes |
| Client Webinars | Yes |
| Videos - Beginner Trading Videos | Yes |
| Videos - Advanced Trading Videos | Yes |
| Investor Dictionary (Glossary) | Yes |
City Index commissions and fees summary
City Index's fee structure is competitively priced and especially advantageous for active traders who can benefit from its VIP discounts. However, the average spread on EUR/USD for standard accounts is slightly higher at 1.4 compared to the industry average of 1.08, which is something cost-conscious investors should consider.
| Feature |
City Index
|
|---|---|
| Minimum Deposit | £100.00 |
| Average Spread EUR/USD - Mini | 1.4 |
| Average Spread EUR/USD - Standard | 1.4 |
| All-in Cost EUR/USD - Active | 0.74 |
| Active Trader or VIP Discounts | Yes |
City Index trading platforms and tools
Did you know? Trading platforms comparison
Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.
City Index provides access to both MetaTrader 4 and a proprietary platform, catering to a variety of trading preferences.
Trading platforms offered: Both MetaTrader 4 and a proprietary platform are available.
Trading tools: City Index offers a range of trading tools including trading signals.
Metatrader: Only MetaTrader 4 is available, not MetaTrader 5.
Copy trading: Copy trading is supported, allowing traders to replicate the positions of experienced traders.
| Feature |
City Index
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| DupliTrade | No |
City Index trading platform screenshots
Mobile trading apps at City Index
City Index provides top-rated mobile trading applications for both iOS and Android devices.
| Feature |
City Index
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Economic Calendar | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Watchlist | Yes |
City Index mobile app screenshots
How do I open an account with City Index?
To start trading with City Index, follow these steps:
- Visit the City Index website and click on the "Open Account" button.
- Complete the online application form with your personal and financial details.
- Verify your identity and address by submitting the required documents.
- Fund your account using one of the supported payment methods.
- Begin trading after your account is activated.
What can I trade at City Index?
City Index offers a substantial range of markets with 84 forex pairs and 13,500 tradeable symbols, significantly higher than the industry average of 3,623 symbols.
| Feature |
City Index
|
|---|---|
| Tradeable Symbols (Total) | 13500 |
| Forex Pairs (Total) | 84 |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Spread Betting | Yes |
City Index research screenshots
Account funding at City Index
City Index supports various funding methods including bank wires, PayPal, and credit cards, though it does not support Neteller or Skrill eWallets.
| Feature |
City Index
|
|---|---|
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Neteller (Deposit/Withdraw) | No |
About City Index
City Index, founded in 1983, is one of the world's leading brokers for forex and CFD trading and is part of the publicly traded StoneX Group (NASDAQ: SNEX). It has established a strong reputation over the decades by offering a reliable trading environment regulated by top financial authorities. Its commitment to providing extensive educational resources and cutting-edge trading platforms has made it a popular choice among traders globally.
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Methodology
At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).
AI disclaimer
We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
About the Editorial Team
BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.
Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.