CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% 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.

City Index

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Home » Reviews » City Index

City Index Review

City Index was founded in the United Kingdom in 1983 and has since grown to become one of the leaders of the world in spread betting, FX, and CFD trading. Their traders now have access to over 12,000 worldwide markets, including FX, indices, stocks, and commodities.

The City Index trading platform provides a variety of customisation choices, including 16 chart styles and 65+ indicators to help traders do technical analysis. The platform’s research page promotes trading ideas based on fundamental and technical analysis, and traders may monitor the markets using the native apps for smartphones and tablets.

The Financial Conduct Authority (FCA) has authorised and regulated City Index to store client funds in line with their client money regulations. Retail clients’ funds are also entirely separated from the broker’s funds, and consumers may be paid up to £85,000 by the Financial Services Compensation Scheme in the case of collapse (FSCS).

Pros

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

Cons

  • Inactivity Fee
  • Doesn’t allow scalping (See alternatives)
  • Limited range of instruments

A minimum deposit of $25 is required to establish a live account. Additionally, City Index provides a demo account that you may use to practise and become acquainted with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 113942) and ASIC (AFSL #345646), City Index keeps all client money in a separate bank account and works with tier-1 institutions to do so. City Index has been in business since 1983 and has its headquarters in the United Kingdom.

While we show you the specifics of City Index’s spreads, fees, platforms, and trading tools, you may want to open their website in a new tab by clicking the button below to get the most up-to-date information.

Visit City Index

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

What are the spreads and costs for City Index?

City Index, like most brokers, charges a fee based on the spread, which is the difference between both the purchase and sell price of an asset.

The commissions and spreads shown here are based on the City Index website’s minimum spreads.

ForexCity IndexPepperstoneXTB
EUR/USD(Average: 0.7 pips)0.7 pips0.09 pips0.1 pips
GBP/USD(Average: 1.1 pips)1.7 pips0.38 pips0.1 pips
USD/JPY(Average: 1.1 pips)0.6 pips0.19 pips0.1 pips
AUD/USD(Average: 0.8 pips)0.6 pips0.17 pips0.2 pips
USD/CHF(Average: 2.3 pips)2.3 pips0.35 pips0.2 pips
USD/CAD(Average: 2.9 pips)0.5 pips0.27 pips0.3 pips
NZD/USD(Average: 3.6 pips)2.8 pips1.1 pips0.3 pips
EUR/GBP(Average: 2.4 pips)0.5 pips1.0 pips0.1 pips

Spreads are dynamic and are provided solely for informational reasons.

As you can see, the lowest spread for trading EUR/USD at City Index is 0.7 pips, which is pretty typical when compared to the average EUR/USD spread of 0.70 pips. The table below compares the costs of trading one lot of EUR/USD with City Index and other brokers.

How much does it cost to trade 1 lot of EUR/USD with City Index?

If you bought one standard lot of EUR/USD (100,000 units) with City Index at an exchange rate of 1.1719 and sold it the next day at the identical price, you would most likely pay $25.6. Here is a general breakdown of the fees and how they compare to IG and XTB.

City IndexIGXTB
Spread from:$ 5.00$ 6.00$ 2.00
Commission:$0.00$0.00$0.00
Total cost of a 100k trade:$ 5.00$ 6.00$ 2.00
$1 more$3 less
VISIT CITY INDEXVISIT IGVISIT XTB

All fees/prices are for informational purposes and are subject to change.

What can you trade with City Index?

City Index provides over 12,500 distinct trading products, including 84 currency pairings. We’ve listed all of the numerous types of instruments provided by City Index below, along with IG and XTB instruments for comparison.

FX / CurrenciesCity IndexIGXTB
# of forex pairs offered849048
Major forex pairsYesYesYes
Minor forex pairsYesYesYes
Exotic forex pairsYesYesYes
Cryptocurrencies*NoYesYes
Commodity CFDsCity IndexIGXTB
# of commodities offered263421
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalYesYesYes
Index & Stock CFDsCity IndexIGXTB
# of stocks offered450080001606
UK sharesYesYesYes
US sharesYesYesYes
German sharesYesYesYes
Japanese sharesYesYesYes
SEE CITY INDEX’S INSTRUMENTSSEE IG’S INSTRUMENTSSEE XTB’S INSTRUMENTS

Visit City Index

What is the trading experience like with the City Index?

1) Platforms and apps

City Index provides the well-known MT4 forex trading software. See our MT4 broker comparison for a list of the best MT4 brokers. They also offer their own AT Pro platform.

They now provide mobile apps for Android and iOS, making it simpler to monitor and execute transactions while on the go.

SEE THE PLATFORMS OF CITY INDEX

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

You can perform a minimum trade of 1 Lot with City Index. This may differ based on the type of account you establish. The maximum trading requirements differ according on the trader and the instrument. Because they provide STP execution, you may anticipate narrower spreads and greater transparency in the price you pay to execute your trades.

City Index, as a market maker, may have lower entrance criteria than an ECN broker, which benefits from a higher number of transactions and usually has higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.

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 below.

Trading Features:

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

Accounts offered:

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

Funding methods:

  • Credit cards
  • Bank Transfer
  • Payoneer

3) Client support

English, Spanish, German, Arabic, Polish, and Chinese are among the languages supported by City Index.

4) What you’ll need to establish a City Index account

Because City Index is regulated by the Financial Conduct Authority, ASIC, and MAS, every new customer must go through a few minimal compliance checks to verify that you know the implications of trading and are permitted to trade. When you establish an account, you will most likely be asked for the following information, so keep it 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 have to answer a few simple compliance inquiries to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.

While you may be able to browse their site immediately, it is worth noting that you will not be able to execute any transactions until you pass compliance, which might take several days depending on your circumstances.

To begin the process of creating an account with City Index, go to their website.

City Index

Open a demo account

79% of retail investor accounts lose money when trading CFDs with this provider.

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What are you looking for in a broker?

Select the ‘must-have’ features or requirements that are important to you

Mobile Trading

Trade on Margin

Direct Market Access

Offers US Stocks

Accept Paypal

Offers UK Stocks

Offers MT4

Allows Scalping

Copy Trading

Accepts Credit Card

Allows Hedging

ECN or STP Execution

Offers Altcoins

Offers Crypto Crosses

Fixed Spreads

Variable Spreads

Offers Demo Account

Professional Status

VPS Trading

Zero Spread Account

Mobile Trading

Trade on Margin

Direct Market Access

Offers US Stocks

Accept Paypal

Offers UK Stocks

Offers MT4

Allows Scalping

Copy Trading

Accepts Credit Card

Allows Hedging

ECN or STP Execution

Offers Altcoins

Offers Crypto Crosses

Fixed Spreads

Variable Spreads

Offers Demo Account

Professional Status

BIGINNER

VPS Trading

Zero Spread Account

How experienced are you at trading?

Select the ‘must-have’ features or requirements that are important to you

beginner

Intermediate

EXPERT