CityIndex Review

MIN. DEPOSIT £100
Up to 200:1
No BONUS
0 Users (0 votes)
Odds0
Services0
Support0

Overview

Company Information City Index is an online forex trading broker that also offers, spread betting and CFD’s trading. The company was founded back in 1983 and has still kept going… more

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Details

BrokerCityIndex
Website URLhttp://www.cityindex.co.uk/
Founded1983
HeadquartersLondon, United Kingdom
Support Number0845 355 0801
Support Emailsupport@cityindex.co.uk
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish
Minimum 1st Deposit£100
Minimum Trade Amount0.01 lots
Maximum Trade Amount100 lots
BonusNo
PayoutUp to 200:1
Free Demo AccountYes
Regulated Yes
RegulationFinancial Conduct Authority (FCA)
Deposit MethodsDebit or Credit Card (credit carries 1.5% charge), Wire Transfer
Withdrawal MethodsDebit or Credit Card (credit carries 1.5% charge), Wire Transfer
Types of AssetsForex, CFDs
Account CurrencyUSD, EUR, GBP
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

City Index is an online forex trading broker that also offers, spread betting and CFD’s trading. The company was founded back in 1983 and has still kept going strong for over 30 years now. City Index is part of Gain Capital Ltd. a large private holding that also originates from the UK. The company is licensed by the FCA (UK) and has spread its operations all over the world. They have more than 400 employees in offices in China, Singapore, Dubai and Australia. With such a long history behind it, you can be sure that this trading broker can provide excellent trading services and innovative features. City Index has already won numerous awards by online Forex magazines for “Best Online Trader”, “Best CFD Provider” and much more. Despite the stiff competition in the online trading industry, City Index is still one of the best brokers available. Let’s see what they offer.

Trading Information

City Index has been famous for offering very competitive fixed spreads. They even brag about it on their home page where major spreads like EUR/USD has a one pip spread and EUR/GBP has 1.3 pips spread. Leverage is set to 1:400 and there are 37 currency pairs you can choose. Trading instruments for the platform are CFD’s, Forex, binary options, futures, precious metals, oil and commodities. There are two types of accounts on the platform: Standard and VIP. The VIP account will give you the benefits of having the leverage of 1:10, participate in VIP events, a dedicated senior sales trader at your disposal 24/7 and flexible margin rates. What’s great about their accounts is that you can have Spread betting, CFD’s and Forex trading all in one. Scalping and hedging are allowed along with many other features. One-click trading, automated trading, trading signals, chart trading and charting package are just a few of them.

Trading Platforms

When trading platforms are concerned, City Index offers several different types. They have the already famous Metatrader4 platform that has been proven to be the most used and stable one throughout the years.  With unique features exclusively for City Index traders like expert advisors, customizable leverage and professional charting package it seems like the reasonable choice for the main platform. But they also have the AT Pro platform to offer. It’s their newest addition and has a whole new level of trading functionality. It has many features that will suit the needs of expert traders and offers a much better interface compared to the MT4. The AT Pro Development Studio gives you the opportunity to code your trading systems into the platform which can make it unique. For people who don’t want to be bothered with difficult downloads and installations, there is the Advantage Web web-based platform. To use it you only need an internet connection and a login. It has all the needed basic features and can also be customized to your liking.

Security and Customer Services

Security at City Index is at a top level and as a fully regulated broker, they can provide a very safe trading experience. With over 30 years of history behind it City Index have already proven that they are a legitimate company. Their application page has an SSL encryption which ensures that all personal data that you share will only be available to the company’s representatives. Customer support is 24/5 which is the industry standard. There are many ways you can contact their employees. You can call them by phone, write them an email or use their Live Chat option. Response times are quick and you’ll usually get an answer in a couple of hours. Their educational program is also something to be considered. They offer very thorough How-to guides, video libraries, webinars and other resources. They even have a glossary where you can find the meaning of many financial terms and language.

Deposits and Withdraws

Depositing money in your City Index account is easy and hassle free. There are many banking methods that you can use. The usual credit/debit cards are accepted along with Bank wire. An interesting option is to deposit money by phone which is very convenient for people who don’t have the time to fill out forms. Withdrawals are made the same way, and there are no processing fees mention for both deposits and withdrawals. The minimum withdrawal amount is $50 or the remaining account balance. The maximum withdrawal amount for one transaction is $20 000. There is not much more to say about deposits and withdrawals; things are pretty standard, and there are no major surprises when doing it. Processing times depend on the chosen banking method but are relatively fast.

Deposit Bonus and Loyalty Programs

There are no current first deposit bonuses and promotions for now at City Index. There are, however, some contests held. The most recent one is the “Trading Academy” where eight beginner traders are trained by two mentors and have the chance to win $100 000. Other contests are part of their VIP program, and you’ll have to be a VIP member to participate.

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