Irrespective of CFDs being banned in the US, non-US traders are able to trade CFDs on company stocks based in the US. To close your City Index trading account, you need to contact the client management team. Before the account can be closed, you need to answer two security questions that you set up prior to verifying your identity.
- The Professional account provides access to the most superior trading environment, but there is specific criteria which needs to first be met.
- City Index is also regulated to trade in the United Arab Emirates under their FCA license.
- In conclusion, City Index is a solid choice for Forex trading, offering a blend of reliability, user-friendly design, and competitive pricing.
- A YouTube review found an excellent series of TA videos but none were linked directly to the website.
- Beginner traders can benefit from its excellent educational platform.
- The broker offers both fixed and variable spreads depending on the specific market being traded.
City Index Review 2024: Fees, Pros & Cons
City Index provides robust support for algorithmic trading through its state-of-the-art platforms, which allow traders to efficiently implement automated strategies. A key component of this offering is AT Pro, a platform that features advanced technical analysis tools designed to aid traders in developing sophisticated trading strategies. With a customizable interface and a suite of powerful features, AT Pro is particularly well-suited for those seeking to automate their trading activities. The integration of City Index into this well-established group underscores the broker’s commitment to maintaining high standards of security, regulatory compliance, and customer service. Being part of a Nasdaq-listed company adds an additional layer of credibility and financial stability, making City Index a trusted choice for traders worldwide. Fixed spreads might be offered on certain instruments and in certain trading periods.
City Index is an international Spread Betting and Forex CFD broker, that was founded in 1983. CityIndex is a part of the StoneX Financial global brokerage group, with local offices in many countries including; Australia, the United Arab Emirates, and Singapore. Please note that if you stop trading for a year or more, you will be charged a monthly fee for inactivity of the account in the amount of 12 pounds.
The Web-Trader trading app is built on HTML5, and features advanced charting abilities, with customized indicators and tools for drawing. You will have access to hundreds of underlying assets for trading including; Shares, Crypto, Global Indices, Forex currency pairs, Commodities, Bonds, Options, and more. Spreads on Forex pairs are as low as 0.5 points, and when Crypto CFD trading is available, the spread on BTCUSD is $105. Founded in the UK in 1983, City Index is one of the world’s leading companies in spread betting, currency trading and CFD trading.
City Index Investor Protection
In this article, I’ll share my personal experience using City Index, covering everything from its trading platform and fees to customer service and regulatory status. If you’re considering City Index for your Forex trading, this review will give you an inside look at what you can expect. It is therefore best you understand how CFDs work before trading with real funds. The charting package available on the CityIndex platform is highly advanced as you would expect. The charts have multiple features for technical analysis and multiple indicators which can be overlaid on to customised studies. CityIndex also proved webinars and seminars to teach traders how to use technical analysis and other trading strategies.
- Traders who fall below the City Index margin requirements risk receiving a margin call and having their position closed prematurely.
- The Corporate account is for businesses interested in accessing the financial markets and Professional accounts are only for experienced traders that meet the criteria of opening the account type.
- The platform is available in several formats, including a web-based platform, mobile apps, and the popular MetaTrader 4 (MT4).
- Both brokers segregate client deposits from corporate funds and offer negative balance protection.
- Go long or short to profit from both rising and falling bond prices.
- The company offers accounts for both new traders and companies as well as experts who trade a variety of instruments.
- City Index furthers client security through its guarantee if Stop-Loss protection for conditional orders.
These attributes are critical for traders looking to leverage algorithmic strategies effectively. Over 100 technical indicators allow manual traders to tweak their analysis, while the innovative deal ticket features all necessary information. Real times news is curated by Reuters, inside the technical/fundamental analysis portal. Other essential features include a phenomenal charting package, precision drawing tools, and valuable market data.
The Corporate account is for businesses interested in accessing the financial markets and Professional accounts are only for experienced traders that meet the criteria of opening the account type. While retail investor accounts lose money when trading CFDs, Professional accounts can incur more loss without proper trading knowledge. The firm indeed offers a wide variety of instruments that its clients can trade. With these, users can already start trading without having to make a deposit. The fee is also competent with the EUR/USD pair pegged at 0.9 pips.
Meta trader 4 MT4
Every change or update will be emailed to you by the support team. While this simplifies communication for English speakers, it may present challenges for clients who speak different language. City Index offers a comprehensive Forex trading experience, with over 80 currency pairs to choose from. The range includes major, minor, and exotic pairs, giving you plenty of options to diversify your trading portfolio.
Trading Platform Overview
Minimum and average spreads are competitive, at 0.50 pips minimum and 0.69 pips average for EUR/USD. Indexes list a 0.40 minimum spread on S&P 500 CFD and spread bets but no average spread. Disclosures on other markets are limited to minimum spreads or real-time bid/ask spreads. The City Index API appears restricted to institutional and white-label partnerships, lowering the value of the AT Pro backtesting and automated trading capacities.
Anyway, in my view a more complex platform opens the door for more possibilities; you just have to be willing to put in a bit of work. Deposit and withdrawal options are limited to bank https://traderoom.info/city-index-forex-broker/ wires, credit/debit cards, and PayPal. More alternative funding options would be a welcome change, and this is an area of improvement that City Index should consider. The minimum withdrawal is £50, with a maximum online amount of £20,000 per single transaction. City Index does not levy transaction fees, but third-party charges may apply.