Back in the good ol’ days, you could open an account and put on a million-dollar trade over the phone with no ID, no deposit, and no idea. City Index is one of the oldest spread betting and CFD brokers based in the UK. They were founded in 1983 and offer trading in over 13,500 financial markets, to around 126,000 active clients. City Index is currently owned by StoneX, a US brokerage listed on the NASDAQ valued at $2bn. Training Modules – A City Index review will not be rounded up without this critical factor. There are six sections, all designed to ensure that you are fully trained in this field.
This information conflicts with other site disclosures and contact with a sales agent through online chat confirmed that professional status isn’t required to use the software. City Index has its own trading platform called Web Trader but also offers trading via their mobile app, TradingView and MT4. SMART Signals is a new iteration of GetGo, which I tested and reviewed a few years ago. At the time, it was a stand-alone app, and actually quite fun, and did well highlighting some trading opportunities . It’s a great feature for stimulus and saves you a bit of time if you’re on the hunt for trades.
Furthermore, cryptocurrency products are not available in the US or Canada. This section gives you an overall impression of City Index’s trading products. The Nasdaq is holding above the February high and forming a potential bull flag pattern, which projects an approximate target around 13,500. A larger flag pattern also remains in play with a target just below 14,000, although the October high and monthly R1 around provide a likely resistance area.
The broker offers both fixed and variable spreads depending on the specific market being traded. City Index offers trading on CFDs for indices, shares, forex, cryptocurrencies (not in US/Canada), and other markets. I would give city index five stars without any hesitation. Yes, I have been trading with this broker for several years, and they don’t let me know all the time, amiable customer support, quick withdrawals. It seems to be a very experienced broker with a good reputation. I read some good reviews and decided to try a demo account here.
In this regard, City Index has all aspects covered through local London and international phone numbers providing 24/5 support. Usually, the phone’s first linkup is through an online chat robot before getting through to a human customer care executive. With more than 34 years in the business, pioneering both the spread betting and CFD trading markets, the broker’s experience exceeds that of any other online broker that this writer is familiar with. The company has excellent educational resources for novice traders and a sophisticated, fully customizable trading platform for seasoned traders. In addition to trading platforms described in the software section above, City Index offers its customers access to its technical analysis portal.
I didn’t use the mobile version for too long, but from what I have experienced, it’s a pretty good app. While I performed all trades using my demo account, I had to create an actual trading account to review the entire process of setting it up. The good news is that the account opening process is really straightforward, and it took me only a few minutes to have my live trading account up and running. City Index mobile versions for iOS and Android allow easy synching between platforms, with well-organized menus but fewer features and limited customization.
The Academy runs a six-week web series to show that anybody from any background with the right technical support, training, and discipline can learn how to maneuver in the financial markets. On the positive side, it has low forex fees, a smooth account opening process and high-quality research tools. It offers many ways to learn, from a demo account to educational videos. You can reach them in many ways and get fast and relevant answers via phone and chat. Changing the leverage manually is a very useful feature when you want to lower the risk of your trade.Be careful with forex and CFD trading, as the preset leverage levels may be high. We liked the ‘Platform tips’ option on the menu, which provides a demo of the mobile platform’s functions.
Account holders can set custom price alerts, build watch lists, chat with customer service, and do basic charting, but the apps don’t provide a real alternative to the standalone or web platforms. Fortunately, the order interface looks identical to the desktop and web programs, allowing adequate risk management while on-the-go. Another complete section deals with the all-important CFDs, which are a popular way for investors to open an account and start trading on various financial markets. Go through this section, and you will know why you should be trading CFDs with this provider. To avoid retail investor accounts lose funds with CFDs, this section is significant. City Index provides rich education and training content that will help avoid investors’ accounts lose money, regardless of whether they are beginners or professional traders.
This should help to answer any of the more commonly asked questions you could have. This regulation comes from the FCA in the UK, ASIC in Australia, and MAS in Singapore. These are all very well-recognized and much trusted bodies who oversee operations of many of the top forex brokers worldwide. New account applications are processed by a four-step online form. The required information is standard operating procedure and grants traders access to the back-office. Per regulatory requirements, a verification process to satisfy AML/KYC requirements are necessary.
The only hitch is that while setting up a new workplace account, all the widgets must be arranged manually. Apart from this minor point, the platform is feature-rich and supports complex order types like OCOs. For City Index login in thebest forex brokers Australia platform, traders get rebates from AUD 4.5 per million in Tier-1 to AUD 13 per million in Tier-3 in the account. Finally, there is round-the-clock support for complex order types where there is a high risk of losing funds, including OCOs. Traders can also, in one order, close all trades for a specific instrument and trailing stop-loss orders to prevent the possibility to lose money when trading.
A copy of the trader’s ID and one proof of residency document will complete the process. Besides core assets, traders have access to a wide range of secondary markets. A very nice innovation that takes advantage of the increased use of mobile phones by this generation.
In 2008, City Index expanded its presence in forex with the acquisition of FX Solutions. Traders will also find comprehensive market information, including a detailed analysis from Reuters. Funds withdrawn via card take 3 to 5 working days to arrive, while domestic bank withdrawals generally take one to two days. There is no minimum deposit — City Index recommends $/£/€100 as a starting point. After completing this information, traders may have to submit additional information to verify their identity.
We are disappointed to hear that your expectations have not been met. Customer experience is our highest priority at City Index, and we will escalate your feedback to the appropriate teams immediately. There was an issue with my application so I chat with customer service that was able to assist me quickly. In the table below, we’ve listed the available CFD instruments at City Index & how they are classified. A year minimum of professional experience in the financial sector. In the UK, City Index is regulated with the Financial Conduct Authority .
With a single registration, CityIndex clients can open both a real and a demo account, and trading is offered on CityIndex’s proprietary web trader platform and MT4. CityIndex offers only one account type, whereas most brokers will provide at least two or three, but its account is suited to both beginners and more experienced traders. As you can see from the table above, the trading costs on CityIndex’s live account are 5 USD, which is significantly lower than other brokers, but this is based on the minimum spread. The spread at CityIndex is variable and gets wider or tighter depending on trade volume and market volatility. On this basis, we consider CityIndex a safe broker for British clients to trade with. The team is available on a 24/5 basis through several mediums.
City Index is one of the most transparent brokerages in the industry and a stellar example of a well-executed company. A nice platform with fast execution speed, impressive trading tools as well as ultra-tight spreads. Using this platform, you will benefit in the following aspects. Segregated bank accounts that separate clients’ money from city index’ operational resources. Access to an excess of markets including indices, shares, cryptocurrencies and commodities. Seize opportunity instantly with one-swipe dealing, live trade ideas, full-screen charts and more – all designed to suit every level of trader.
The help and support FAQs are well-organized, allowing for quick retrieval of needed information. Withdrawals are free and no minimum deposit is needed to open an account. However, £12 per month is charged to accounts with no activity for one year or longer.
Partnering with Faraday Research, City Index offers its customers a free 30-day trial of either UK FX or UK Equities Daily Trading Signals. The company is regulated in nine world jurisdictions, including the United States , Japan , Canada , the UK , Hong Kong , Singapore , the Cayman Islands and Australia . According to the website, the broker had 115,000 + active clients in 2019 with 45 million trades valued at around $1.4 trillion executed on its platforms.
From stat-arb and trend-following CTA to fixed-income relative value. Firm’s he has worked at include big https://traderoom.info/s like Citi, and prominent hedge funds including D. GAIN Capital has been the parent company for City Index since 2014 when the firm bought City Index. WebTrader – Fast and reliable HTML5 technology for optimum performance. Fully customisable workspaces allowing personalisation and flexibility. Advanced charts with custom indicators and precision drawing tools.
Later, the city index reviews was deliberately hedged and locked by them. They asked the customer service that they need to make up the margin before they can cash out. The chat account was forced to be cancelled, and the trading software was also disabled. I hope that the brothers who saw the news will join together to find the cheater and return our hard-earned money. City Index offers quite competitive spreads and margins on over 40 major and minor currency pairs including GBP/USD, EUR/USD and USD/JPY.
Traders can choose from USD, GBP, EUR, and other cross-currency pairs. Additionally, City Index does not offer CFDs based on cryptocurrencies to UK retail traders, or clients in the US/Canada. We are glad to hear you have had a positive experience with our client management team, who are always available via phone, email, or live chat should you require any additional assistance. We are glad to hear you were able to resolve the issue you had been experiencing.
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