Lastly, City Index operates in Singapore and is registered as StoneX Financial Pte. In Singapore, the broker is regulated by the Monetary Authority of Singapore (MAS) and accepts clients across most of Asia. To help prevent negative balance protection from needing to be activated, a margin call system is also used. When your margin indicator level drops below 100%, you will be notified by email to top up your account balance or close some trading positions. This means you need enough balance in your account across open and closed positions to cover your required margin to hold your position. Use the calculator below to compare City Index’s trading costs with competitors such as Pepperstone, Eightcap and CMC Markets, adjusting for trade size, currency pair, and base currency.
- One of the platform’s standout features is a fully customizable trading workspace, which allows me to tailor the interface to my preferences for easy management across multiple trading windows.
- For UK and most European equities, the charge is 0.08% while for the US this is 1.8CPS, and 0.2% for Asian shares.
- They have an informative section dedicated to training that contains helpful information and guidance both for newer, and more experienced traders.
- Traders can access a great selection of over 12,000 markets via a single powerful desktop platform when dealing with Forex, Indices, Shares, and Commodities.
- City Index’s customer service was prompt and knowledgeable, and I found their research and educational resources, especially the Trading Central signals, to be valuable additions.
IC Markets Global
A separate login is used for MT4, which adds an extra layer of protection for account access. Account charges are limited to a monthly inactivity fee for users that do not place a trade for 12 months. This fee stands at £12 per month but does not apply to accounts with a zero balance.
The firm will retain its FCA regulation and the entire range of 13,500+ markets and services. Compare City Index with the top 3 similar brokers that accept traders from your location. Another standout feature is the Trading Central portal within the Web Trader platform. By navigating to the research tab, you can access detailed and actionable technical and fundamental analysis. The platform also integrates intelligent trading tools to simplify the trading process.
Withdrawal Options and Fees
64.5% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. Especially for beginners, they have a prudent education system and provide free demo accounts. They will guide you with technical analysis and keep you updated on news of top-notch agencies like Reuters. Once you open an account with City Index, it will initiate your self-learning phase.
City Index Live account
Filippo Ucchino has developed a quasi-scientific approach to analyzing brokers, their services, offers, trading apps and platforms. He is an expert in Compliance and Security Policies for consumer protection in this sector. Filippo’s goal with InvestinGoal is to bring clarity to the world of providers and financial product offerings. Spread betting is possible with City Index and they do have a dedicated spread betting account type which is available to UK and Ireland traders only. To help keep clients up to date with current financial market news, City Index provides an economic calendar and a regular newsletter with market updates for the day ahead.
- All BrokerNotes content is researched, fact-checked, and edited by the research team.
- In addition to that, you can place orders of various types like Market, Limit, Stop, Trailing Stop, and OCO.
- For stock trading, spreads of 0.8% for UK and 1.8 cents per share are built into the price.
- Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com.
Overall, we think that City Index is a solid forex broker which offers robust customer support channels, plenty of insightful educational materials, and a wide range of financial markets. And like CFD trading, when spread betting, there are no commission costs. Like with CFD traders, you will be able to use a guaranteed stop loss when using the City Index trading platform. While you can bet on the same products as you can trade with CFDs, there are some differences to note between CFDs and spread betting.
After submitting my verification documents, I was approved within an hour, which I consider an impressive turnaround time. As a subsidiary of StoneX Group, City Index benefits from its position within a large, well-capitalised, and highly-transparent public company. “One aspect I liked was how City Index categorises markets,” Noam said. Get a better understanding of how the markets work with our easy to ready “how-to” guides.
Your Guide to UK Investment Platforms
He has a Masters in Business and has contributed to leading finance sites including Forbes, Kiplinger to Finance Magnates. While live chat is convenient for simple queries, sometimes you need to discuss a more complex issue, or want an urgent response. Having the option to pick up the phone and talk to someone directly is valuable in those situations. I found city index review the process user-friendly and completed it within just 5 minutes.
For instance, it is very convenient to visually adjust stop-loss and take-profit orders by dragging them to new price levels. These tools make analyzing trades more streamlined, reducing the need to rely on external software for technical analysis. In indices trading, major indices like the FTSE-100 and Dow Jones 30 have spreads starting from 0.4 points, which is competitive. It only trails a handful of brokers in terms of its market offering, such as BlackBull and IG. Spread betting and CFD trading are both derivatives, which allow you to speculate on financial markets without owning the underlying assets. Try out spread bet calculator to learn more about how profits and losses work with spread betting.
AT Pro Trading Platform
This compensation should not be seen as an endorsement or recommendation, nor shall it bias our broker reviews. Any rates, terms, products and services on third-party websites are subject to change without notice. The City Index’s own mobile trading platform is very well designed and user-friendly. It can be a good mobile trading app for beginners as it has tutorials and demo instructions that teach you how to use the app. If you have a biometric mobile, you can set your app to biometric verification, which gives that extra element of security. Up to three debit or credit cards can be used for an account across Visa and MasterCard.
IG Markets
City Index offers competitive spreads, particularly on major markets like forex and indices. The market analysis provided directly by City Index’s analysts on the Web Trader platform is also useful. They offer daily market updates covering all the major trading sessions, including opening and closing commentary, to stay on top of key developments. Extra trading tools like Trading Central signals and Performance Analytics are a great addition to the platform, giving you solid tools to improve your betting. However, it would have been great if you could automate your spread bets with City Index. The mobile app allows you to set push notifications for price alerts and risk management signals.
They are all text-based without any video content, which is a bit of a letdown. However, explanations and examples still get the key points across effectively. With live chat and phone call options to contact the broker for help, it’s great to see they are available 24/5, across market trading hours. City Index has done a great job providing a decent customer service experience through its staff training and methods of contacting the broker.
Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. We really appreciate you taking the time to leave your review with us. Companies on Trustpilot aren’t allowed to offer incentives or pay to hide reviews. As for educational resources, while a bit basic in delivery, the trading courses cover the key topics well. I believe you will find these really helpful if you are just starting out. While these speeds aren’t the very fastest I’ve tested, they’re certainly up there.