City Index Mobile Trading – Comfortable and Usable Platform
A mobile trading platform is one of the most used tools when it comes to Forex trading. In recent years the usage of mobile devices has grown sharply which resulted in the growing number of Forex traders switching to Android or iOS. Brokers in their turn focus more on developing apps that are convenient and easy to use.
City Index broker is no exception. This is an award-winning platform. Licensed and regulated by the FCA, offering services to customers from different countries, the company has a working and well-optimized app that is notable for its user experience and perfect interface. City Index mobile app is available for Android and iOS devices. It comes with a good set of features and a rich selection in many key areas, including watchlists, charts, and an economic calendar. With the app, you can trade not only Forex but also shares, indices, stocks, and various other trading instruments. It suits both new and experienced traders.
What Does City Index Mobile Trading Look Like?
As soon as you download the app and start trading, you will be met with a minimalistic design and a lot of features. The dashboard looks nice. The size of buttons and icons are normal and they are chosen perfectly, as well as colors. We can also point out the usability of the app, fast executions, and adjustability.
Whether you’re adding alerts, depositing money into your in-app account, or accessing news headlines and research, you’ll find plenty of options to help you create a positive impression from a well-thought-out design.
Going to the charting module in the mobile application, you will see an icon for adding drawing tools and indicators that appear after the application is switched to landscape mode. This is in line with industry standards, although some applications also show this icon in portrait mode.
However, seven research instruments can be added to the chart and you can do basic technical analysis with trendlines, which is not so common in mobile applications.
In addition to charts, the app is richly equipped with tools and features and even includes educational content and chat, which is also not available everywhere. Overall, the City Index mobile app has a lot of advantages and performs well in this category. It is on par with other prominent brokers.
City Index Mobile Trading Features
Among the features of the City Index mobile trading app, we can mention the following characteristics:
- Trading with 4500+ assets;
- Viewing quotes and market movements;
- One-click trading;
- Templates and favorites;
- Analytics, reports with the ability to download.
At the same time, you can create a new account inside the app, including the demo one. It also offers flexibility and the opportunity to receive real-time price alerts. The app is designated in a way to offer customers the best possible experience. Reviewing your past transactions and trade history is supported as well.
Depending on the trading instrument you are going to choose on the platform, City Index can offer different amounts of leverage. The maximum is 1:400, however, you should be careful with such high leverage and the broker recommends the same on its website. Leverage is perfect to open larger positions and increase your profits, but at the same time, it can result in losses and significantly impact your balance. Low leverage is in handy for beginner traders, while the high one is oriented towards veteran traders who know how to use it in the process.
Spread is defined as the difference between the Bid and Ask price. City Index offers more than competitive spreads for Forex, CFDs, and spread betting products. The spreads on the MT4 platform in the City Index are significantly higher and average 1.6 pips on EUR/USD.
Overall, City Index ranks fairly high in the commissions and fees category for traders trading small lots. Shortly before the end of 2016, City Index switched from a fixed spread model to a variable spread model (floating spreads) in order to reduce the commissions and fees that clients pay for trading.
Pros & Cons of City Index Mobile Trading
There is no app in the Forex industry that only has positive sides. Every trading platform comes with certain cons and disadvantages that you need to consider before and after downloading the app. In this case, there are way more advantages than disadvantages to using the City Index mobile trading platform and we will review everything thoroughly.
Following the features of the app, we can mention the main benefits of City Index mobile. First of all, you can create multiple watchlists and observe the chosen markets. The economic calendar will keep you up to date, while device syncing will allow all account details to sync perfectly with each other.
Live Customer Support
The mobile app supports getting help from the customer team through live chat. It is surprising, because not every app has this feature. The support group is available 24 hours 5 days a week. Most of your answers will be answered and resolved quickly.
The economic calendar available inside the City Index mobile app keeps you up to date with the latest events and provides information about market movements. The economic calendar is comprehensive and easily accessible. You won’t have problems understanding it.
Powerful full-screen charts within the app will help you analyze the market and analyze your next trading opportunity. They are adjustable and configurable, with over 60 indicators, time intervals, and colors. You will definitely get a fully-fledged trading experience with advanced charting tools available on the platform.
Easy and Fast Payments
Speed of payment determines a lot in the FX industry. The possibility of carrying out transactions through your mobile app is noteworthy. Just sign in to your account and all the available deposit options will be provided. They are secure and your information will be stored in safe hands.
There are not too many cons obviously in the City Index mobile app. We can only mention things that are inherent to mobile devices. For example, it has slower performance compared to desktop computers or laptops. Also, it seems that the app is not supported on Windows phones.
While the app itself runs smoothly and at a relatively normal speed on mobile devices, it is nowhere close to desktop computers and laptops. The speed of executing transactions and orders is faster on personal computers and it is not surprising, because computers generally have better specifications.
Not Supported on Windows Phones
The app can be downloaded only on Android and iOS devices. The broker does not indicate that the platform is also available on Windows phones, which makes us think that the above-mentioned devices are not supported. A lot of people use Windows phones so this is a weakness of the app.
FAQ on City Index Mobile
Does City Index have an app?
Yes, City Index has its own mobile application for working with platforms from narrow-format devices: smartphones and tablets on Android, iOS. You need to go through directly to the App Store, or Play Store, where the app will be available with a comprehensive description. The installation takes just a few minutes.
Does the City Index consume a lot of data?
No City Index generally does not consume a lot of data, because the app is well-optimized. However there is one thing worth mentioning: if you are engaged in ultra trading mode, opening and closing positions the app could consume more than usual, but if you are just scrolling through, there won’t be too much consumption.