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CityIndex Review 2020

FairBinaryOptions Broker Certificate
  • Min. Deposit £100
  • Max. Leverage 1:200
  • Spread EUR/USD 0.3 pips
  • Mobile Yes
  • Platform MT4/Webtrader
  • LiveChat Yes

Launched in 1983, CityIndex is a licensed brokerage firm serving retail and institutional clients in 180 countries, including South Africa. CityIndex provides Forex and CFD trading as well as Spread Betting with fast, reliable execution and tight spreads. The recently added CFDs in Cryptocurrencies, allow traders at CityIndex, to take advantage of volatile crypto markets, without owning the potentially risky physical assets.

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  1. CityIndex Account Features

    Traders in more than 180 countries can open a Forex and CFD trading account with as little as £100 initial deposit. Nevertheless, customers should consider depositing sufficient funds to cover the margin requirements of their initial trades. Whilst a separate Spread Betting account is available to CityIndex customers in most countries, it is not permitted in South Africa or Australia due to local licensing laws. New customers in South Africa, are typically required to provide copies of an official ID document such as a passport and proof of residence. These rules comply with international anti-money laundering regulations and cannot be avoided.

    CityIndex Demo Account

    The CityIndex demo account enables traders to practice in a risk-free trading environment for up to 12 weeks. Traders are allocated £10,000 of virtual money and given unrestricted access to the CityIndex trading platform, with all the tools and features available to real money traders. Whilst traders don’t make real money profits in a demo account, it’s a practical way to learn about CFD trading. Understanding risk management on the trading platform, can prevent large losses in real money trading later on.

  2. CityIndex Trading Software

    Traders can choose from several powerful, award-winning trading platforms at CityIndex designed for all trading styles. The choice includes the MetaTrader4, an enduring favourite with forex traders all over the globe.

    Advantage Web Platform

    • Customisable web-based platform
    • One-click trading through 12 chart types
    • 80+ integrated technical indicators
    • Personalised watchlists
    • Research portal for identifying trade opportunities
    • Smart risk management
    • Trade from all devices on the move

    Advantage Mobile Trading Apps

    • Available for iOS and Android smartphones and tablets
    • Secure access to trading accounts, 24 hours a day
    • Economic calendar
    • Live Reuters news feed
    • Prices and charts streamed live

    AT Pro Downloadable Platform

    • Innovative desktop platform with powerful analysis tools
    • Suitable for advanced traders with basic coding knowledge
    • Fully customisable interface with 100+ indicators
    • Automated trading signals displayed directly on charts
    • Multiple order types including advanced orders
    • Hundreds of trading templates
    • Back-testing tools for signals testing
    • Hedging tools

    MetaTrader4 Downloadable Platform

    • Suitable for beginners and experienced traders
    • Highly secure, dedicated Forex platform with 80 FX currency pairs
    • Multi-lingual with 24/7 support
    • Allows automated trading with Expert advisors
    • Professional charting packages
    • Multiple order types, including buy and sell stops
    • Hedging tools
    • Trailing stops enhance risk management strategy

    MetaTrader4 Mobile Platform

    • MT4 mobile trading apps available for iOS and Android devices
    • Mobile apps give secure access on the move
    • Full set of trading orders
    • Interactive quote charts and multiple technical indicators
    • One click trading
    • Monitor account status and track account history

    CityIndex Forex and CFD Trading Features

    Traders can choose from a broad range of tradeable instruments with flexible leverage up to 1:200 depending on the asset class. 84 Forex currency pairs and more than 4,500 CFDs are available for trading from one live account, across shares, commodities, indices and cryptocurrencies (Bitcoin, Bitcoin cash, Litecoin, Ethereum and Ripple). Significantly, at CityIndex, traders can profit from the high volatility typical in digital currency markets, without needing to buy and hold the physical assets in online digital wallets. Customers only trade in the price movements, whether up or down, making crypto trading exciting and potentially extremely profitable but also rather risky.

    Importantly, clients don’t pay commission on most CFD or Forex trades. Instead, trading costs are covered by the competitively priced spreads (both fixed and variable), with spreads on CFDs as low as 0.3 pips. Only Share CFDs pay commissions of between 0.1%/£10 minimum and 0.15%/£15 minimum.

    CityIndex Spread Betting Features

    The UK website of CityIndex, offers spread betting accounts for customers living in the UK and in many other countries. Similarly with CFD trading, spread betting lets traders bet on the price movements of a wide range of markets. Importantly, spread betting is popular in the UK, as the government does not tax traders’ profits. At CityIndex, clients get the opportunity to trade over 8,000 global markets with tight fixed spreads from 0.5 points on forex currency pairs. Whilst there are no commissions charged for spread betting, the spreads are wider than for CFD trades.

    Your capital might be at risk
  3. CityIndex Support Information

    A comprehensive ‘Help and Support’ FAQS page is provided on the CityIndex website, covering every aspect of trading with the broker. Additionally, live chat support is offered on the CityIndex interface, where customers are required to provide a name and email address, while specifying whether the enquiry is about a new or existing account. On the contact page, several phone numbers are listed for local and international enquiries, together with an email address and the CityIndex office address at 16, Finsbury Circus, London EC2M, UK. All customer support, websites and trading platforms are in the English language only.

    CityIndex Educational Resources

    We found the free educational resources and training offered on the CityIndex website exceptional and should be exploited to the full by new and experienced traders. Undoubtedly, the superb series of training videos and tutorials, can assist all traders to improve their trading skills. We were impressed by the extensive list of trading topics covered by CityIndex. It includes an introduction to financial markets, CFD, Forex and Cryptocurrency trading (presented separately), as well as risk management, trading with technical analysis and trading strategies. Moreover, clients can watch the ‘Trading Academy’ series at their own pace and select from the many subjects included in the video library.

    Support Information
  4. CityIndex Company Information

    CityIndex supports payments using credit/debit cards (Visa and Mastercard) and bank wire transfers. Deposits and withdrawals are not charged an admin fee by CityIndex as they are managed by customers via the secure funding portal in customers’ accounts. It’s worth noting that the minimum withdrawal allowed per transaction is £50, and the maximum withdrawal is capped at £20,000 per 24 hours. Importantly, clients’ funds are kept in segregated bank accounts from those of the company’s operating capital, in compliance with FCA and ASIC regulations. However, whilst traders registering with the CityIndex UK company are covered by the very generous, Financial Services Compensation Scheme, traders in South Africa are not protected to the same extent, in the unlikely event of CityIndex experiencing liquidity problems. Nonetheless, the advantage of trading with a reputable broker with more than 30 years of experience in financial services, is the valuable peace of mind that customers enjoy.

    CityIndex is owned by GAIN Capital Holdings Inc, a publicly traded company listed on the NYSE. The company is headquartered in London, as well as having licensed subsidiaries in UAE, Singapore and Australia. CityIndex is regulated in 8 jurisdictions worldwide, including the Financial Conduct Authority (FCA) in the UK. In Australia and South Africa, traders registered with CityIndex are covered by the regulations of the ASIC license issued to GAIN Capital Australia Pty, Ltd.

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