Established in the UK in 1983, City Index has since become one of the world leaders in spread betting, FX and CFD Trading. City Index traders today have access to more than 12,000 global markets, across forex, indices, shares and commodities.
The City Index trading platform offers a range of customisation options, including 16 chart types with 65+ indicators designed to traders perform technical analysis. The platform’s research portal highlights trade ideas using fundamental and technical analysis, while traders can follow the markets on City Index’s native apps built specifically for smartphones and tablets.
City Index is authorised and regulated by the Financial Conduct Authority (FCA) and holds client funds in accordance with their client money rules. Retail clients’ money is also fully segregated from City Index’s own funds in separate accounts, while in the event of liquidation, clients may be compensated up to £85,000 by the Financial Services Compensation (FSCS).
To open a live account, you’ll need a minimum deposit of at least $25. Alternatively, City Index offers a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by the Financial Conduct Authority, UK (FRN: 113942), and ASIC (AFSL #345646). City Index puts all client funds in a segregated bank account and uses tier-1 banks for this. City Index has been established since 1983 , and have a head office in UK .
Before we dive into some of the more detailed aspects of City Index ’s spreads, fees, platforms and trading features, you may want to open City Index ’s website in a new tab by clicking the button below in order to see the latest information directly from City Index.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links. Your capital is at risk. CFDs are leveraged products & 73% of traders lose money when trading CFDs.
Like most brokers, City Index takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The spreads displayed below are based on the minimum spreads listed on City Index’s website. The colour bars show how competitive City Index' spreads are in comparison to other popular brokers featured on BrokerNotes.
The average spread for EUR/USD across all brokers on BrokerNotes is 0.82 pips. See popular brokers for trading EUR/USD
The average spread for USD/JPY across all brokers on BrokerNotes is 0.91 pips. See popular brokers for trading USD/JPY
The average spread for GBP/USD across all brokers on BrokerNotes is 1.18 pips. See popular brokers for trading GBP/USD
The average spread for Bitcoin across all brokers on BrokerNotes is 41.15 pips. See popular brokers for trading Bitcoin
The average spread for gold across all brokers on BrokerNotes is 8.62 pips. See popular brokers for trading gold
The average spread for DAX30 across all brokers on BrokerNotes is 14.95 pips. See popular brokers for trading DAX30
Spreads are dynamic and are for informational purposes only. Last updated: June 06, 2018.
As you can see, City Index 's minimum spread for trading EUR/USD is 0.7 pips - which is relatively low compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with City Index vs. similar brokers.
If you were to buy one standard lot of EUR/USD (100k units) with City Index at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $25.6. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .
|Spread from:||$ 5.00||$ 2.00||$ 7.00|
|Typical overnight fee:||$ 20.60||$ 7.94||$ 5.00|
|Total cost of a 100k trade:||$ 25.6||$ 9.94||$ 12|
|-16 less||$-14 less|
|Visit City Index||Visit XTB||Visit AvaTrade|
All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018. 72% of retail investor accounts lose money when trading CFDs with this provider
City Index offers over 12,500 different instruments to trade, including over 84 currency pairs. We’ve summarised all of the different types of instruments offered by City Index below, along with the instruments offered by XTB and AvaTrade for comparison.
|FX / Currencies||City Index||XTB||AvaTrade|
|# of forex pairs offered||84||48||59|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|Commodity CFDs||City Index||XTB||AvaTrade|
|# of commodities offered||26||21||16|
|Index & Stock CFDs||City Index||XTB||AvaTrade|
|# of Stocks offered||4500||1606||99|
|See City Index's Instruments||See XTB's Instruments||See AvaTrade's Instruments|
City Index also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.See City Index 's platforms 72% of retail investor accounts lose money when trading CFDs with this provider
City Index allows you to execute a minimum trade of 1 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As City Index offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.
As a market maker, City Index may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trades requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
Finally, we’ve listed some of the popular funding methods that City Index offers its traders on the right.
City Index support a wide range of languages including English, Spanish, German, Arabic, Polish, and Chinese.
City Index has a BrokerNotes triple AAA support rating because they offer a wide range of languages and support options.
As City Index is regulated by Financial Conduct Authority, ASIC and MAS , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore City Index’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with City Index you can visit their website here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from www.cityindex.co.uk on August 23, 2018.
Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.