City Index

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

City Index, a trading name of StoneX Financial Ltd, is allegedly a global Spread Betting, FX and CFD provider established in the United Kingdom in 1983, offering 13,500+ markets with variable spreads from 0.5 pips on the Mobile trading app, WebTrader and MT4 trading platforms, as well as a choice of five different account types and 24/5 customer support service. Here is the home page of this brokers official site:

As for regulation, it has been verified that City Index has a regulated Financial Conduct Authority (FCA) license. That is why its regulatory status on WikiFX is listed as “Regulated” and receives a relatively low score of 8.25/10.

Market Instruments

City Index advertises that it offers Spread betting, forex and CFD trading and it can give access to 13,500+ markets which include but are not limited to forex, indices, shares, commodities and other markets.

Account Types

City Index claims to offer five types of trading accounts, namely Standard accounts, MT4 accounts, Professional accounts, Corporate accounts and demo accounts. City Index demo accounts expire in twelve weeks, but you can open another one if you wish to continue practising for longer. Also, you can open as many demo accounts as you like, although youll need a different email address for each one. There is no minimum initial deposit requirement to open an account.

Leverage

The maximum leverage provided by City Index is as high as 1:500 (for clients outside the UK and Australia). It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

All spreads with City Index are a variable type and scaled with the accounts offered. For example, clients on the Standard account can experience variable spreads from 0.8 pips, while the MT4 account members can enjoy tighter spreads from 0.5 pips. There is no commission charged except in shares markets.

Trading Platform Available

Platforms available for trading at City Index are the Mobile trading app and WebTrader, as well as the world's most advanced and popularly-used MetaTrader4. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

City Index states that you can fund your accounts via Debit card (Visa, MasterCard, Maestro and Electron), Credit card (Visa, MasterCard), PayPal and Bank transfer.

There are no minimum deposits, but the broker recommends depositing at least £100 or an amount which is enough to substantially cover the margin requirement of your first trade. The minimum withdrawal amount is £100, or all your available account balance (whichever is lower). All deposits and withdrawals are free of charge.

Withdrawals via cards require 3–5 working days to be processed. While domestic bank transfers are done in normally 1–2 working days if your bank subscribes to the faster payments service it could be in one working day.

Customer Support

City Indexs customer support can be reached by Phone 0203 194 1801, Freephone 0800 060 8609, email: support@cityindex.co.uk or send messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook and YouTube. Company address: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales.

Pros & Cons

User Reviews

Susan - 5th Apr2022

I appreciated the City Index customer care as I rarely have used a live account. All in all, a good experience.

P Shah - 8th Nov2021

I have been trading for a while with City Index and am quite happy with the reliability of trading platforms. Recently I contacted my accounts manager for some statistics regarding my trading performance going back to January 2020. My accounts manager promptly supplied me with this information which otherwise would have taken me hours to extract from monthly statements.

Luke- 26th Jul 2020

The platform is good. Lots of traders I know use this platform. Despite all the negative reviews, it's not a scam. However, understanding the risk of CFDs is something you need to do before trading with them. They often restrict instruments and don't have as wide range of stock CFDs as CMC Markets do. However, the commission is not bad cheaper than CMC. Also tight spreads.