| Overall | Commissions & Fees | Licensing & Safety | Platforms & Tools | |
|---|---|---|---|---|
| Points | 92 | 86 | 96 | 94 |
Overview – Fees and commissions – Safety – Opening an account – Account types – Trading Platforms – Markets and products – Research tools – Education and training – Customer support – Our verdict
Our review of City Index takes a look at one of the oldest forex brokers in the industry. Established in 1983 in the United Kingdom, City Index boasts over 120,000 clients and 26 awards. Among those clients are traders from Australia, Singapore, and Britain as, in each of these countries, the broker boasts a top tier license. With over 4,500 instruments in seven asset classes, City Index definitely provides something for everyone. Choose between forex, commodities, shares, indices, metals, bonds, and more.
- Trade more than 4,500 instruments
- Choose from 3 trading platforms
- Regulated and licensed by ASIC, FCA, MAS
- Best broker for trading on-the-go
- Only one account type for retail clients
overall scores
In this review, you can find all the information you need to decide whether is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how scored in each of our high-priority categories.
City Index fees and commissions
Reviewing City Index’s forex broker fees is easy, as the broker has a transparent pricing structure. Forex spreads are variable and lower than average, whilst some CFDs have fixed spreads. City Index does not charge deposit or withdrawal fees, and inactivity fees are not charged until 24 months of inactivity. Overall, City Index has competitive non-trading fees.
Our experts have reviewed City Index’s fees based on how they compare with the fees of other reviewed brokers. For each broker, we analyze both trading fees and non-trading fees:
– Trading fees are charged every time you place a trade. They include spreads, commissions, overnight and rollover fees, and currency conversion fees.
– Non-trading fees aren’t directly related to trading, but you should consider them as they make up the cost of using a certain broker. They include payment fees and inactivity fees.
Below you will find a snapshot of the fees charged at City Index. Our experts have created these tables based on the fees applied to a standard account. We consider a standard account to be the one that will appeal to most traders. It is often not the cheapest option, but it’s not a premium option either.
| Trading Fees* | |
|---|---|
| TYPE OF FEE | COST |
| Minimum Spread EURUSD (pips) | |
| Commission (%) | % |
| Commission on Islamic Accounts (%) | % |
*Based on Standard account type.
| Non-Trading Fees | |
|---|---|
| Account Fee | N |
| Inactivity Fees | N |
| Deposit Fees | N |
| Withdrawal Fees | N |
City Index trading fees
Depending on the market in question, City Index has fixed or variable spreads.
When trading forex on City Index, spreads can be as tight as 0.5 points, with flexible leverage. The following example spreads and margins will provide you with an idea of what to expect from the broker if you wish to trade currency pairs:
- EUR/USD: 0.5 min., 0.8 typical, 0.5% margin
- AUD/USD: 0.5 min., 0.9 typical, 0.5% margin
- EUR/AUD: 4.2 typical, 0.5% margin
- NOK/SEK: 4.2 typical, 1% margin
- EUR/USD Forwards: 8 min., 0.5% margin
- AUD/USD Forwards: 8 min, 0.5% margin
The following are some example rates (and margin requirements) for index CFDs:
- Australia 200: Fixed at 1 point min., 0.50% margin
- EU Stocks 50: Fixed at 2 points min., 0.50% margin
- US SP 500: Fixed at 0.4 points min., 0.50% margin
- China A50: 10 points min. around market spread, 1% margin
The following are examples for index CFD futures:
- Australia 200: 7:10 around market spread/23:50 fixed, 2 point min., 0.2% margin
- EU Stocks 50: Fixed at 3 points min., 0.50 margin
- US SP 500: Fixed at 0.6 points min., 0.2% margin
If you choose to trade cryptocurrency* CFDs with City Index, expect the following spreads and margins:
- Bitcoin (USD): From 35, margin from 25%
- Bitcoin (GBP): From 45, margin from 25%
- Bitcoin (EUR): From 55, margin from 25%
- Bitcoin (AUD): From 55, margin from 24%
- Ethereum: From 1.2
- Litecoin: From 0.5
*Availability subject to regulations
Consider these example spreads and margins for commodities and metals:
- US Crude Oil Monthly Future: 0.3 around market spread, 1% margin
- UK Crude Oil Monthly Future: 5 fixed, 1% margin
- Corn Monthly Future: 1 around market spread, 3% margin
- Orange Juice Monthly Future: 0.6 fixed, 3% margin
- Gold Monthly Future: 0.4 around market spread, 1% margin
- Silver Monthly Future: 2.5 around market spread, 1%
You can also trade bonds and interest rate futures with City Index, with the following example spreads:
- Euro Bobl Quarterly Future: 0.02 fixed, 1% margin
- US T-Bond Quarterly Future: 0.02 fixed, 0.5% margin
- Eurodollar Quarterly Future (Interest Rate): 0.02 fixed, 0.25% margin
When trading share CFDs on City Index, you will pay the market spread in addition to a commission. Margins start at 4%.
If you place a Guaranteed Stop Loss Order, there will also be an additional charge. However, you will always be able to view this charge before placing the trade. Some examples of these fees include (unless otherwise noted, all are charged in the base currency):
- EUR/USD CFD: 4 times the quantity of the CFDs, per 0.0001
- UK 100 CFD: 3 times the quantity of CFDs,
- US Crude Oil CFD: 4 times the quantity of CFDs
- Barclays share CFD: 0.25% of the notional trade value
City Index commissions
City Index only charges commissions on share CFDs. All other instruments are commission-free. The commissions for share CFDs vary by market and are as follows, all with market spreads:
- Australian shares: 0.09%, minimum of 5 AUD (0.08%, min 5 AUD in the UK)
- European shares: 0.1%, minimum of 25 EUR (0.08%, min 10 EUR in the UK)
- UK shares: 0.1%, minimum of 10 GBP (0.08%, min 10 GBP in the UK)
- US shares: 0.15%, minimum of 25 USD (1.8CPS, min 10 USD in the UK)
Financing/overnight rates
If you review City Index’s financing charges, you will notice that they are in line with the industry average as they are based on the benchmark regional interest rate. Rates for the US, UK, and EU are LIBOR +2.5% and LIBOR -2.5% for long and short positions. For Australian clients, the rates are deposit +2.5% and deposit -2.5%, respectively. There are also small fees for Bitcoin overnight financing.
Our City Index broker review team also points out that the broker offers a 50% discount on spreads if you choose to automatically roll your futures contract when it expires.
Non-trading fees
City Index does not charge any fees for deposits or withdrawals made with debit and credit cards or transfers. The broker does, however, currency conversion fees. These are described as “commercially reasonable.”
City Index has a highly competitive inactivity fee, as this is not charged until you until your account has been inactive for a full 24 months. If you are an irregular trader, you’ll find this beneficial as it means you won’t feel pressured into making a trade. What’s more, as most competitors charge after six or 12 months of inactivity, City Index stands out from the crowd. Once your account is considered inactive, you will pay a $15 monthly fee. If your balance is less than this, then City Index will charge the full balance as the fee.
After three years of inactivity, you will have to reactivate your account.
City Index safety
Based on our research for this review, City Index is both safe and well-regulated. The broker boasts 3 top-tier licenses, secure policies, and risk management tools. If you are a UK trader you’ll benefit from extra protections, although non-UK traders should also feel confident as they are trading with a highly experienced broker. City Index is also owned by an exchange-listed parent company, which ensures they act responsibly at all times.
- Regulated by FCA, ASIC, and MAS
- Has held FCA license for over 30 years
- Client compensation scheme
- NASDAQ-listed parent company
- Client compensation scheme does not apply to all regions
City Index licenses and regulation
Our reviewers found that City Index is regulated by three different top-tier authorities, under different trading names. We checked the status and authenticity of all licenses listed on the broker’s website and were pleased to find that they had been in place for several years.
City Index is currently licensed and overseen by the following regulatory bodies:
- The Australian Securities and Investments Commission (ASIC) regulates GAIN Capital Australia Pty Ltd., of which City Index is a trading name. It has the AFSL number 345646 and CAN 141 774 727.
- In the United Kingdom, City Index is part of GAIN Capital UK Limited, which is regulated and authorized by the Financial Conduct Authority (FCA). This company has the registration number 1761813 and FCA registration number 113942.
- The Monetary Authority of Singapore (MAS) regulates and authorizes GAIN Capital Singapore Pte. Ltd., of which City Index is a trading name. In Singapore, the company has the regulation number 200400922k.
- In the Middle East, City Index is one of the few Western brokers with a representative license issued by the Central Bank of UAE.
Is City Index safe?
Our review methodology considers several factors to ensure that all of our recommended brokers are safe and reputable. Alongside the number and strength of licenses, we also consider:
- What protection and/or insurance City Index offers should something go wrong
- City Index’s reputation, history, and management
City Index client protection
Clients who register with City Index under the regulation of the FCA are entitled to compensation in the unlikely event that the broker becomes insolvent.
Client Protection
| Country | Legal Entity | Protected Up To | Regulators |
| United Kingdom | City Index, GAIN Capital UK Limited | £85,000 | FCA |
| Australia | GAIN Capital Australia Pty Ltd | No Protection Offered | ASIC |
| Singapore | GAIN Capital Singapore Pte | No Protection Offered | MAS |
To further protect clients, City Index offers negative balance protection. Our City Index review team strongly suggests that you select a broker like this one, which offers such protection, especially when trading with leverage.
City Index background and reputation
City Index has more than 35 years of experience, as it was founded in 1983. It has also been serving clients in Australia since 2006. This long history shows the broker’s ability to weather a range of market conditions.
Additionally, the parent company of City Index is StoneX Group Inc which is listed on the NASDAQ as SNEX. Since it is a publicly-traded company, StoneX must meet extremely high standards of financial reporting, disclosure, and corporate governance. StoneX is also a Fortune 500 company, providing additional peace of mind.
City Index stores all client funds in segregated accounts with tier-1 banks. This, paired with the broker’s longevity, should reassure you that City Index is a completely trustworthy choice.
Opening an account with City Index
Once you finish reading our City Index forex broker review, you can open a new account with the broker within minutes. You can do this via mobile or desktop. Verification may take slightly longer than at other brokers, yet this is because the broker is regulated rigorously. The minimum is highly accessible for all types of traders, at just $150.
Is City Index available in your country?
City Index accepts applications from almost all countries. However, you must register with the relevant branch of City Index, such as via the website designated for Australia, the UK and Europe, the Middle East, and Singapore. If you are trading from an EEA country, you should use the UK arm of the broker.
Conveniently, if you visit the incorrect City Index website for your region, it will give you a pop-up with the option to take you to the website designated for your region. This prevents the frustration of discovering you are in the wrong region after starting the application.
How to open an account at City Index
To create an accurate review of City Index, our team opened a new trading account. They found that registration is both quick and easy, taking less than 10 minutes. This included email verification.
To open an account with City Index, simply follow these steps:
Step 1
Select “Create Account” in green on the top right corner of the page
Step 2
Enter your full legal name, country of residence, date of birth, and email address. Then, create a username and password before clicking “Save and Next.”
Step 3
Fill in the rest of the fields, including your address and your trading experience.
Step 4
Verify your email address and phone number.
Step 5
Submit the required documentation.
Step 6
Make a deposit.
What you will need to open an account
To open an account with City Index, you will need to provide the broker with some preliminary information. To save you time, our City Index review team has listed everything you should have on hand:
- Personal information – Full name, address, phone number, government-issued identification such as a taxpayer ID.
- Regulatory information – You will have to answer questions to confirm that City Index’s products are suitable for you. Expect questions related to your financial status and trading experience.
- Documentation – You may be asked for proof of identification, such as a national identity card, driving license, or passport. You may also be asked for proof of address, such as a utility bill, credit card, or bank statement, council tax bill, or mortgage statement from the past three months.
To open an account with City Index, you’ll need to provide proof of identity and proof of address. This process allows City Index to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices such as money laundering.
What is the minimum deposit at City Index?
The minimum deposit amount at City Index depends on which arm of the broker you are trading with. For clients in the UK or the EU, a £100 deposit is needed for an FX account. There is no minimum deposit needed for a CFD account, although a similar amount is suggested.
If you register for a CFD account with City Index in Australia or Singapore, the minimum deposit is just $150. There is no minimum deposit for an FX account in either country.
City Index payment methods
As you review City Index broker’s payment methods, you are likely to find more than one option that suits your needs. The broker offers a range of base currencies, including EUR, USD, GBP, AUD, HUF, JPY, PLN, and CHF. Keep in mind that the payment methods vary slightly based on your region.
Payment Methods
| METHOD | DEPOSITING TIME | ACCEPTED CURRENCIES | DEPOSITING FEE | MAX. DEPOSIT | WITHDRAWAL | WITHDRAWAL TIME | MINIMUM WITHDRAWAL | |
|---|---|---|---|---|---|---|---|---|
| Credit or debit card | 3-5 days | Base currency | N/A | 50,000 AUD/GBP | Y (But not Visa or MasterCard) | 150 AUD/100 GBP | 150 AUD/100 GBP | N/A |
| EFT | Instant | Base currency | N/A | 50,000 AUD/GBP | Y | 2-3 days | $150 | N/A |
| PayID | Instant | Base currency | N/A | 50,000 AUD/GBP | Y | 2-3 days | $150 | N/A |
| PayPal | Usually instant (up to 48 hours) | AUD, USD, GBP, EUR | N/A | 50,000 AUD/GBP | Y | Usually instant (up to 48 hours) | $150 | N/A |
| BPAY | Instant | Base currency | N/A | 50,000 AUD/GBP | Y | 2-3 days | $150 | N/A |
| Wire transfers | 3-5 days | Base currency | N/A | 50,000 AUD/GBP | Y | ~3 business days | 150 AUD/100 GBP | N/A |
City Index account types
As you review City Index broker’s account types, you will notice that it keeps things simple by offering a single retail account for most traders. There are also Premium and Professional accounts available for high volume traders that offer cash rebates. There are no ECN or micro account types available, yet the competitive spreads and potential rebates make up for this.
Account Types
| PERSONAL ACCOUNT | |
|---|---|
| Minimum Deposit | £100/$150 |
| Max Leverage | 1:500* |
| Minimum Order Size | 0.01 Lots |
| Spreads | From 0.5 pips |
| Commission | Only on share CFDs |
| Available Instrument Types | Forex, Commodities, Shares, Indices, Metals, Cryptocurrencies**, Bonds, Interest Rates |
| Available Instruments (Number) | 4,500+ |
| Trading Platforms | HTML5 Web Trader, AT Pro, iOS, Android, MetaTrader 4 |
| Automated Trading | Y |
| Execution Type | Market maker |
*Leverage is limited to 30:1 in the UK and the EU
**Availability subject to regulations.
Demo accounts
Our City Index broker review team strongly encourages you to take advantage of the broker’s demo account before trading real money. City Index offers a demo account with $20,000 in virtual funds (£10,000 for UK traders) and unlimited access to the full selection of trading platforms for 12 weeks. This includes access to all the tools and features.
There is not an option to extend your demo account, but City Index encourages clients who want more practice to apply for an additional one.
Islamic accounts
City Index does not explicitly provide information on any Islamic account offerings. However, it is safe to assume that there are accommodations for Islamic traders available since this is a standard offering, and City Index has a presence in the Middle East.
City Index trading platforms
Our City Index forex broker reviewers appreciated that the broker offers four platforms, each suited to different skill levels. If you’re new to trading, you’ll find both the proprietary web platform and MT4 easy to use. If you’re more experienced, we recommend using the AT Pro platform, which comes with advanced features. City Index also offers a fully functional mobile platform, which can be used on both Android and iOS devices. Overall, we found the quality of these platforms to be higher than average.
City Index has four trading platforms. A trading platform is a software interface that allows you to place trades. Trading platforms often come with charting, research, and order processing tools.
To ensure that we only recommend high-quality brokers, our reviewers have tried and tested each of City Index’s trading platforms. When doing so, they considered a range of factors including how easy to use the platforms are, what features each trading platform offers, and how suited each platform is to different types of traders.
Trading Platforms
| HTML5 WEB TRADER | MOBILE TRADING | METATRADER 4 | AT PRO | |
|---|---|---|---|---|
| Instrument Classes | Forex, Commodities, Shares, Indices, Metals, Cryptocurrencies*, Bonds, Interest Rates | Forex, Commodities, Shares, Indices, Metals, Cryptocurrencies*, Bonds, Interest Rates | Forex, Commodities, Shares, Indices, Metals, Cryptocurrencies* | Forex, Commodities, Shares, Indices, Metals, Cryptocurrencies*, Bonds, Interest Rates |
| Number of Instruments | 4,500+ | 4,500+ | 4,500+ | 4,500+ |
| Number of Order Types | 5 | 5 | 4 | 8 |
| Number of Indicators | 65+ | 60+ | 50 | 100+ |
| Number of Drawing Tools | 74+ | 0 | 31 | 15 |
| Robots/EAs | N | N | Y | Y |
| Social/Copy Trading | N | N | Y | Y |
| Downloadable | N | Y | Y | Y |
| Browser Compatibility | Google Chrome, Firefox, Edge, Safari | iOS and Android | Google Chrome, Firefox, Edge, Safari, iOS, and Android | Google Chrome, Firefox, Edge, Safari |
*Availability subject to regulations
HMTL5 Web Trader
The HMTL5 Web Trader is a powerful proprietary platform and our City Index review team found it very easy to use. The platform is fully customizable, with the ability to create and switch between workplaces that you personalize. You can choose from 11 chart types and display more than one time frame in a chart. You can also compare two instruments within a single chart.
Smart trading tools provide risk management features, including the ability to define limits and stops via price, points, or P&L, and a real-time margin calculator.
The advanced charts include more than 65 indicators and 74 drawing tools. You can also overlay multiple markets within one chart. Plus, there is a 360-degree market view with the latest news and analysis.
iOS and Android mobile trading
The mobile trading applications for iOS and Android feature over 60 custom indicators, as well as the ability to save chart profiles in your preferences. You can also take advantage of one-tap trading and create personal watch lists of your preferred instruments.
When viewing charts, you can use full-screen TradingView charts. Adjusting the time frame is as easy as scrolling. Another quick scroll lets you switch between which price you want to view: the offer, mid, or bid price. Reuters news is also incorporated in the platform, as is an economic calendar. Conveniently, you can trade on one device, then switch to another and continue trading there, including with the mobile apps and the WebTrader. The mobile apps also feature live chat customer support.
Like the WebTrader, the mobile apps feature multiple order types, including if-done, OCOs, stops, and limits. You can also hedge and use trailing or guaranteed stops.
AT Pro
AT Pro is an advanced trading platform, and this City Index broker review found that it’s a great choice for experienced traders. It features over 100 technical indicators and an extensive selection of drawing tools. You can trade from charts and view or adjust limit and stop orders. Charts include numerous customization options, including 15 time intervals, colors, indicators, and types. There is a separate portal on the platform for fundamental and technical analysis.
This platform also supports automated trading signals. Follow one of the hundreds of built-in trading signals or create your own using Visual Basic, .NET, or C# in the Development Studio. AT Pro includes backtesting to let you check the performance of a signal with historical data. The platform also incorporates the economic calendar and real-time Reuters news.
MetaTrader 4
MetaTrader 4 is the industry-standard platform for forex and CFD trading, known for its intuitive interface. Our reviewers would recommend using this platform at City Index if you are already familiar with it, or if you just beginning to learn how to trade. As most trading courses and academies use MT4, you’ll know exactly what to expect.
With MT4, you can use dozens of built-in indicators, expert advisors, and signals. The platform also includes a professional charting package, with additional time frames, chart types, technical indicators, and drawing tools. There is also a customizable economic calendar, advanced orders, and hedging.
What is the execution policy at City Index?
City Index follows a best execution policy to process orders as fast as possible processing. With the broker, you are also allowed to trade with unrealized profits to maximize your resources, scale in or out of trades, and go long and short at the same time. The closeout level is 50% of the margin requirement. City Index allows for price improvement if the price moves in a direction that benefits you during order.
City Index markets and products
Trading with City Index gives you access to over 4,500 instruments. These span currency pairs, precious metals, commodities, share CFDs, cryptocurrencies, indices, options, interest rates, and bonds. If you are trading in the UK, this expands to over 12,000 trading opportunities as the broker also offers spread betting. Within the UK, however, you are not able to trade crypto CFDs, due to FCA regulations.
| Instrument | Number |
|---|---|
| Currency Pairs | |
| Commodities | |
| Precious Metals | |
| Indices | |
| Stocks and Shares | |
| Cryptocurrencies | |
| Options | |
| ETFs |
Currency pairs
You should easily be able to trade currencies that you’re interested in at City Index, as the broker offers 84 different pairs. Spreads start at 0.5 points, with margins from 0.2%. In addition to the majors, you can trade more than 12 pairs with USD, 12 with GBP, 15 with EUR, and 16 others.
City Index also offers 15 forex forwards. Forex trading is also available as options.
Commodities
City Index offers you the chance to trade over 25 commodities as CFDs, with spreads from 0.06 points and margins from 1%. The higher-than-average range of products includes popular choices, like US Crude Oil, Sugar NO.11, and Coffee C, as well as rarer offerings that you won’t find at competitors. Uncommon products include Soybean Oil, Soybean Meal, Lumber, and Live Cattle.
Precious metals
You can trade five metal CFDs with City Index, and margins start at 0.5%. In addition to the expected Gold and Silver, you can also trade Platinum, Palladium, or Copper, all as futures. CFDs are available for Gold (per 0.1), Gold Mini, Silver (per 0.5), and Silver Mini too.
Indices
If you choose to trade index CFDs with City Index, you will be able to choose from 21 major indices. These include those from Poland, Japan, Italy, Hong Kong, Germany, France, Australia, Spain, Switzerland, the Netherlands, China, the US, and the UK.
Stocks and shares
When you trade stocks and shares on City Index, it is in the form of CFDs. This lets you go long or short and take advantage of leverage. With more than 4,500 stocks and share CFDs available, it is no surprise that these include global offerings. There are share CFDs available from the United States, European, British, Asian, and Australian markets. Commissions are low, starting at $5 for Australian stocks. Additionally, you can choose share contracts that include cash, futures, or options.
Cryptocurrencies
At City Index, you can trade Bitcoin, Ethereum, Ripple, Bitcoin Cash, or Litecoin CFDs against the USD. You can also trade Bitcoin against AUD, EUR, or GBP. Trading cryptocurrency CFDs is incredibly convenient as you don’t need a cryptocurrency wallet. You also get the benefit of going long or short and trading with leverage. Please note, the availability of cryptocurrencies is subject to regulations.
Bonds
If you’re looking for a more unique trading opportunity, we think you’ll be impressed with the selection of bonds at City Index. There are 12 to choose from, spanning the American, European and Asian markets. This includes the likes of BTP Italian Bonds, Euro Bobl, Euro Bond, Euro Schatz, UK Long Gilt, US T-Note, and US T-Bond.
City Index research tools
City Index provides traders with all the necessary tools to make informed trading decisions. You can find market news divided by major current events, expert analysis, customizable economic calendars, trading signals, and more. Clients can also set up free SMS volatility alerts on their smartphones.
| Research Tools | |
|---|---|
| News (from top-tier sources) | N |
| Trading Signals and Indicators | N |
| Trade Ideas | N |
| Expert Analysis | N |
| Autochartist Tools | N |
| Sentiment Charts | N |
| Economic Calendar | N |
News
Aside from the News and Market Analysis page, City Index also offers dedicated pages for the following nine topics: the US Election 2020, Coronavirus Pandemic, Brexit Hub, Cryptocurrencies, Forex, Indices, Shares, US-China Trade War, and Tech Stocks Hub. Our reviewers found that visiting these categories saves you time, as you do not have to filter through all the news for relevant information.
Reuters News is also built into all the proprietary platforms, including the WebTrader, mobile apps, and AT Pro. This is considered a highly credible source.
Trading signals and indicators
The MT4 platform features trading signals for automated trading, alongside popular indicators. You can also review City Index’s unique indicators on each of the broker’s proprietary platforms; over 65 are available on WebTrader, and there’s more than 100 offered on the AT Pro downloadable platform. This impressive amount enables you to conduct technical analysis with ease. You can also customize the indicators, including setting periods, colors, and guidelines.
Expert analysis
City Index offers a technical and fundamental analysis portal, powered by Trading Central. Here, you will find global data related to Asian, American, and British stocks.
You can also visit the News and Market Analysis section of the broker’s website, where you will see expert analysis mixed in with relevant news. Most of the expert analysis is highly detailed, including charts and figures. City Index also posts a video series called “The Week Ahead,” which includes expert analysis to remind you of upcoming key events and the impact they are likely to have.
If you register as a professional client, you’ll also receive individual coaching from a market analyst.
City Index education and training
Our review of City Index found an extensive selection of educational features, from written tutorials and articles to educational videos. These are particularly helpful if you are a beginner trader, although there’s a sufficient amount for experienced traders too. Overall, with City Index’s teaching materials you will be able to easily hone your skills.
| Educational Features | |
|---|---|
| Demo Account | N |
| Platform Tutorial Videos | N |
| Educational PDFs | N |
| Live Webinars | N |
| YouTube Videos | N |
| Trading Academy | N |
| Trading Glossary | N |
Platform tutorial videos
You can find the platform tutorial videos in the City Index Video Library. There are videos for specific actions, such as placing a trade and a guide to the City Index research tools. These are incredibly useful if you want to use the broker’s proprietary platforms.
Educational PDFs
When you visit the Trading Academy section of the City Index website, you will find a range of articles. Although these are not PDFs, you could still easily print or save them to read on the go.
The articles are detailed, easy to understand, and cover a range of topics. You can learn about each of the different asset classes offered at City Index, including indices, shares, forex, commodities, interest rates, bonds, options, and futures. This is an excellent starting point for beginners.
You will also find topics related to trading strategies, such as running profits, options trading strategies, and introductions to different types of analysis. Yet another section is dedicated to using research and trading tools. This covers more technical aspects such as OCOs, if-done orders, short selling, and types of trades.
YouTube videos
Almost all of City Index’s tutorial and educational videos are available on YouTube. This is great news if you enjoy creating your own video playlists or learning on-the-go. As some videos are a little longer, the option to download and save them for later is also beneficial as it means you don’t need to use up your mobile data.
Topics include introductions to CFD and forex trading, a guide to asset classes, planning an exit strategy, and managing risk. You will also find specific market events, such as Non-Farm Payrolls, and advanced concepts, such as the Head and Shoulders Strategy.
City Index customer support
In our experience, City Index customer support is friendly and helpful. It is available 24/5 via live chat, email, or phone. Additionally, the broker has a detailed FAQ section that will easily answer the majority of your questions.
- Support via live chat, phone, or email
- Support 24/5
- Some support options are often unavailable as the volumes of requests are ‘higher than usual’.
There are multiple ways to contact City Index, including the following:
- Live chat via the website or mobile platforms
- Phone: 0845 355 0801(UK), 1800 354 182 (Australia), +65 6826 9988 (Singapore)
- Email: [email protected] (UK), clientservic [email protected] (Australia), [email protected] (Singapore)
- Headquarters: Devon House, 58 St Katharine’s Way, London, E1W 1JP
Our City Index broker review team warns you that the broker frequently has a notification on its Contact Us page indicating that chat and call volumes are high. Despite the high volumes and the unavailability of some options during these times, this is a nice touch. It lets you know what to expect and makes it possible to plan to call or chat with them at another time. Additionally, when that notification is present, it includes a link to service updates.
Premium and Professional traders receive a dedicated relationship manager, along with priority service.
City Index mobile compatibility
The City Index website is mobile-friendly and offers full-functionality. You can register, review your account, contact customer service and view analysis, and educational content. For trading, you have several choices as both the proprietary City Index application and MetaTrader 4 are available for iOS and Android.
City Index – Our verdict
After completing our review of the City Index forex broker, our team is more than happy to recommend it almost all traders. With over 4,500 instruments, it offers multiple chances to diversify your portfolio and to try out unique trading opportunities. The range of platforms also helps the broker appeal to everyone, with the MT4, mobile apps, and WebTrader appealing to all skill levels and the AT Pro platform appealing to advanced traders.
Complete the quick and easy registration process to review City Index for yourself.
| Final Summary | |
|---|---|
| Minimum Deposit (USD) | |
| Licenses | |
| Max. Leverage | |
| Client Protection | N |
| Broker Type | |
| Number of Instruments | |
| Currency Pairs | |
| Stocks | |
| Cryptocurrencies | |
| CFDs | N |
| Proprietary Trading Platform | N |
| MT 4 | N |
| MT 5 | N |
| Mobile Compatible | N |
| Research Tools | N |
| Educational Materials | N |
| Payment Methods | |
| 24/5 Customer Support | N |
| Live Chat | N |
*Leverage is limited to 1:30 for UK and EU clients.
*Availability of cryptocurrency CFDs is subject to regulations.
City Index information
- Year founded: 1983
- Company trading names: City Index (GAIN Capital Singapore Pte. Ltd., GAIN Capital Australia Pty Ltd., GAIN Capital UK Limited)
- Licenses: ASIC, FCA, MAS
- Headquarters address: Devon House, 58 St Katharine’s Way, London, E1W 1JP
- Facebook: https://www.facebook.com/CityIndexUK
- Twitter: https://twitter.com/cityindex
Risk Disclaimer: City Index offers CFD products. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take that high risk.
Our methodology: This review of City Index has been created using accurate data and unbiased facts. To test the broker, we have used our unique and detailed methodology, which assesses over 200 criteria points in 10 key areas. This guarantees that all of our reviews are fair and extensive.
We update our methodology and reviews regularly. Methodology updates are made so that new broker features and products are taken into consideration. Review updates ensure that all the information we provide is current and correct.
What’s next
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Frequently asked questions (FAQ)
Yes, our City Index review explains that the broker is regulated by the FCA (Financial Conduct Authority), ASIC (Australian Securities and Investments Commission), and MAS (Monetary Authority of Singapore). This high level of regulation provides peace of mind for clients. It also includes access to the FSCS compensation fund for UK clients.
No, City Index is not a scam. This is clear from the fact that it is regulated by the FCA, ASIC, and MAS. Additional reassurance comes from the fact that the broker is far more experienced than many other brokers, and that it is owned by a publicly listed company.
The minimum deposit limit at City Index changes depending on which arm of the broker you are trading with. To open an account in the UK you’ll need to deposit at least £100, whilst this rises to $150 for traders in Australia or Singapore. In all jurisdictions, you can open a free demo account too.
There are no commissions when trading forex and most CFDs at City Index, except for share CFDs. The commissions for share CFDs vary based on the region, as well as which country you opened your account. They start at just 0.08%.
City Index delivers the same experience to all clients with a single account type that provides full access to the platforms and instruments. You can, however, qualify for Premium and Professional accounts based on your trading volume and balance. With these account types, you’ll benefit from priority service, a dedicated account manager, and access to exclusive events and webinars.
