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City Index Review

  • Regulated by: Financial Conduct Authority, ASiC and MA…
  • Used by: 140,000+ traders
  • Trust Rating: AAA
Open City Index's Website

Losses can exceed deposits

Overview

City Index is a forex, cfd and spread betting (UK) broker. They give traders access to the major markets like currencies, indices, commodities and shares. For traders interested in cryptocurrencies like Bitcoin, City Index is one of the few brokers that offer cryptocurrency CFDs. They also offer Vanilla Options for experienced traders looking to trade options.

To open a live account, you’ll need a minimum deposit of at least $25. Alternatively, City Index offer 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 have 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.

Open a demo account Visit 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.

City Index screenshot

PROS

  • Used by 140,000+ traders
  • Established in 1983
  • Regulated by Financial Conduct Authority, ASiC and MAS
  • Min. deposit from $25

CONS

What are City Index's spreads & fees?

Like most brokers, City Index take 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.

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 0.5 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.

See all Spreads
Losses can exceed deposits

How much does City Index charge to trade 1 lot of EUR/USD?

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 $N/A. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .

City Index XTB AvaTrade
Spread from: N/A $ 2.00 $ 7.00
Typical overnight fee: N/A $ 7.94 $ 5.00
Commission: N/A 0 0
Total cost of a 100k trade: N/A $ 9.94 $ 12
Visit City Index Visit XTB Visit AvaTrade

All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018. Losses can exceed deposits

General Fees

  • City Index does charge inactivity fees
  • City Index withdrawal fees varies on payment method

Overnight fees & swap rates

When you hold a position overnight, it is usually subject to overnight interest which you must pay to your brokerage (sometimes called a rollover fee or swap rate).

  • The rollover fee for long positions on EUR/USD is -$20.60
  • The rollover fee for short positions on EUR/USD is $0.25

Commissions

  • City Index does charge commission on CFD shares

What can you trade with City Index?

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 50 59
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies Yes Yes Yes
Commodity CFDs City Index XTB AvaTrade
# of commodities offered 26 0 16
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Index & Stock CFDs City Index XTB AvaTrade
# of Stocks offered 4500 1500 99
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See City Index's InstrumentsSee XTB's InstrumentsSee AvaTrade's Instruments
Losses can exceed deposits

What’s the City Index trading experience like?

1) Platforms and apps

City Index offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. City Index also offer their custom AT Pro platform.

City Index Screenshot See City Index 's Platforms

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
Losses can exceed deposits

Trading Features:

  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss

Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Managed account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

City Index allow you to execute a minimum of 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 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.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Payoneer

3) Client support

City Index support a wide range of languages including English, Spanish, German, Arabic, Polish, and Chinese

City Index have a BrokerNotes triple AAA support rating because they offer a wide range of languages and support options.

4) What you’ll need to open an account with City Index

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:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

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.