Wire charges will typically take three working days, while card withdrawals may take up to 10 business days or longer. City Index charges an inactivity fee of $15 per month, but this is only charged after a full 24 months of inactivity. This is a much longer fee-free period than many of the broker’s competitors. You’ll also be glad to know there are no charges for deposits or withdrawals, no matter which payment method you choose.
- City Index is regulated by trusted organizations, providing recourse for any issues.
- The product range includes Forex via MT4, spread bets, CFDs, and options on indexes, shares, commodities, interest rates, bonds, metals, and cryptocurrencies.
- Even though the owner(s) of this website receives compensation for our posts or advertisements, we always give our honest opinions, findings, beliefs, or experiences on those topics or products.
- However, there’s no fundamental data available on City Index’s platform.
City Index are one of the world’s leading trading brokers, established in 1983 and headquartered in the UK with traders worldwide using their services. They have many years of experience with fast and reliable trade execution speeds, award winning platforms and technology across multiple devices. They give you excellent conditions to trade a huge choice of markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, Spread Betting, CFDs & ETFs. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
City Index Demo
They also do not charge any commission or fee from their side on deposits or withdrawals. You will get daily updates on market outlooks and forecasts through webinars, tag-based news pages, and other critical reports. Once you go through this complete training program, you will know why retail investor accounts lose money and what you should do to avoid this possibility. The proprietary AT Pro is a desktop-based platform, and Web Trader, a browser-based platform, complements the various products that City Index offers. However, City Index MT4 has a comparatively limited range for holders of a trading account on this platform.
They also facilitate guaranteed stop-loss orders, trailing stops, and can make margin calls if your equity falls below a certain level when trading on leverage. All of these features help manage your risk and are in place to protect you as a trader. The spread here remains tight and starts from only 0.5 pips with the average spreads being 0.8 pips on the EUR/USD, 0.9 pips on the AUD/USD, 0.8 pips on the USD/JPY, and 1.8 pips on the GBP/USD. These spreads start from 0.5 pips on forex, and 1 pip on major indices with the average on the EUR/USD being 0.8 pips and as low as an average of 0.6 pips on the S&P 500 CFD.
How can I start trading with City Index?
As far as the pricing structure of the City Index is concerned, I find it to be in line with the market rates. Still, I would suggest trading with the broker’s proprietary trading platform to benefit from more competitive spreads. Trading at City Index here is what you can expect from the trading platforms and all of the features they have to offer. The same leverage limits apply to professional traders even if you are using the professional account type. The CFD trading Account at City Index is a very popular choice and grants you access to trade in more than 4,000 assets.
City Index offers a very impressive product catalog created to prevent a scenario where investor accounts lose money. The product range includes Forex via MT4, spread bets, CFDs, and options on indexes, shares, commodities, interest rates, bonds, metals, and cryptocurrencies. The execution of the trade policy of City Index trading platforms is one of the fastest in this category. City Index, forex broker UK based offers the facility of going long and short simultaneously, a wide spectrum of flexible order types, and price improvement technology. Nearly every trader on the planet owns a smartphone, but that doesn’t mean that every mobile trading app offers the same forex trading capabilities. A wide range of mobile trading apps are available across the globe – some of which are developed in-house by online brokers, while some are developed by third-party developers.
Experience on the Mobile
Once that is done, you need to verify your email and upload proof of identification and address. After they have been received and approved, you can then fund your account and commence trading. The minimum deposit starts from $100 which should be achievable if you are looking for a quality broker. If that is out of your range, Trade Nation have a minimum $1 deposit requirement.
Mark has over 15 years of experience in financial analysis, forecasting,
and financial modelling, identifying new market opportunities in Stocks, CFDs, Forex and Commodities. Withdrawing money from City Index processing time varies depending on the method but averages 1-5 days. City Index allows Forex trading, CFDs trading, and Spread Betting trading. Although we found some very useful aspects of the City Index platform that would be useful to some traders. The phone support team successfully resolved our questions and issues over the phone.
I worked with James Internicola to… set up a MetaTrader4 Corporate account and fund the account.
Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold The Forex Geek and any authorized distributors of this information harmless in any and all ways. City Index also does not offer a welcome bonus or deposit bonus or the advantage of a no-deposit bonus city index reviews when traders register a real account for the first time. Additionally, the City Index parent group, StoneX Group, is Nasdaq listed. City Index client funds are kept in segregated accounts and the broker forms part of the Financial Services Compensation Scheme (FSCS). However, City Index is owned by StoneX, which is a US broker that US citizens can trade through.
- In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing.
- The charge on inactive accounts is £12 per month (for accounts dormant for longer than 12 months) but brokers do need some kind of scheme to incentivise their clients to engage in good housekeeping.
- Both accounts have no commissions with spreads from 0.5 pips, the only difference is the trading platform you use.
- The broker offers central counterparty clearing on “certain markets” through the Omnibus Segregated Clearing Account (OSCA).
- Finally, unlike many of the top forex brokers, you will not find a swap-free account at City Index.