City Index Review

Broker Information

  • Company Name: City Index
  • Founded: 1983
  • Country: UK

Platform Info

  • Platform: Advantage Pro, MT4, AT Pro, WebTrader
  • Web Based: No
  • Mobile Trading: Yes

Broker Services

  • Regulators: FCA, NFA, CFTC, IIRO, FSA, CIMA, MAS, SFC
  • Minimum Deposit: £100
  • Leverage: 1:200
  • US Clients: No
  • Funding Methods: Wire, credit card, debit card

City Index Review

City Index was founded in the United Kingdom in 1983 as one of the first betting providers in this country. This London-based broker offers its clients trading in more than 12,000 assets, which include currencies, indices, commodities and stocks. The company was also one of the first brokers to offer Contracts for Difference or CFD in 2001.

In 2005, City Index acquired Finspreads, a leader in the field of online margin betting since 1999. The company continued to grow and increase its commercial reach by acquiring IFX Markets, a provider of margin trading operations with margin along with its platform that included operations with precious metals, such as gold and silver; 48 currency pairs in cash; and 40 IMM and Finex EFP or Exchange for physical products.

Brokerage operations of City Index were improved with the acquisition in 2008 of currency broker FX Solutions, which had a leading position in retail currency trading in the United States. In 2014, City Index was sold by its owner, Michael Spencer, to the American firm Gain Capital. Spencer owned the company since 1997, when he bought a majority stake in the firm from the original founders.

City Index has its head office in London, England and is regulated and authorized by the Financial Conduct Authority of the United Kingdom or FCA with authorization number 113942. The company also has offices in Singapore, the United Arab Emirates and Australia.

The official City Index website can be found at www.cityindex.co.uk.

City Index Review

Trading Software

City Index’s trading software is centered around the company’s two proprietary trading platforms and the MetaTrader4 trading platform:

  • Advantage Web – this platform was voted the best ADVFN extended betting platform for 2017. Advantage Web consists of a customizable and easy-to-use web-based trading platform that has more than 80 technical indicators and 12 different chart types. The platform includes a research portal that evaluates the market with both technical and fundamental analyzes.
  • AT Pro – a sophisticated trading platform designed with the experienced trader in mind. The AT Pro platform is fully customizable, allowing you to create your own templates in C #, .NET and Visual Basic. The software also includes a variety of factory templates to choose from. In addition, the AT Pro platform includes graphics, with more than 100 different indicators, as well as an Excel test tool that analyzes trading signals against historical data. Commercial strategies that can be applied with the platform include a MACD fast line / signal line crossing system, a mobile average crossing system and the Heikin-Ashi candle investment system.
  • MT4 Trading Platform – The popular MT4 trading platform in City Index combines the company’s integrated trading tools with the company’s narrow trading differentials. The MT4 platform comes with a series of customizable indicators and an Expert Advisor function to automate your business strategies.
  • WebTrader

    Fast and reliable HTML5 technology for optimal performance. Fully customizable work spaces allowing customization and flexibility. Advanced graphics with custom indicators and precision drawing tools. Smart trading tools, including smarter business tickets and advanced risk management tools. Market information curated with detailed market analysis to identify business opportunities.

    Both the AT Pro and Advantage Web trading platforms include a Reuters news service that is extremely useful for merchants of all types. In addition, City Index offers its customers a mobile commerce platform for both Android and iOS.

    The screenshot below illustrates the City Index Advantage web trading platform, which integrates active markets, trading positions, charts and merchant capital and other relevant data.

Deposits and Withdrawals

The city index recommends a minimum deposit of £ 100 or an amount large enough to cover the margin requirements of your first operation. Debit cards such as Visa, MasterCard, Electron or Maestro are accepted, while Visa and MasterCard credit cards and bank transfers can be used for deposits.

The city index has a minimum withdrawal requirement of £ 50, or the balance of the available account, whichever is less. Withdrawals are limited to a maximum of £ 20,000, or £ 20,000 per day to a credit or debit card.

Withdrawals are free unless a CHAPS payment is required, in which case a fee of £ 25 is charged for payments of less than £ 5000. Bank transfers usually take between one and two business days, while withdrawals of credit cards are required. Credit and debit usually take between three and five business days.

Beginner Support

City Index has focused significantly on educating merchants, making a large amount of educational material available through the City Index Trading Academy. The online academy presents videos about commerce that highlight key technical levels in various markets. In addition, the academy offers customers access to text files with instructions and an extensive video library to develop their market knowledge and improve business results.

The academy conducts free seminars that educate traders from the basics of trade to more sophisticated strategies and techniques, presented by different market experts and held at the company’s head office in London. The webinars are recorded every two weeks and present both market analysis and commercial education. These webinars are offered for free and do not even require you to open a demo account with the company.

Safety

GAIN Capital has been the parent company of City Index since 2014 when the company purchased City Index. In addition to City Index, GAIN Capital also owns Forex.com, a global forex broker; and GTX, an independent currency ECN for financial institutions and a futures group that offers operations with basic products and derivatives in more than 30 global exchanges.

The GAIN Capital figures in Bedminster, New Jersey are impressive, with an average of $ 501.2 billion in monthly operations volume, in addition, the company has more than 140,000 retail customers in 180 countries and employs more than 800 people in four continents The company is regulated in nine global jurisdictions, including the United States (CFTC and NFA), Japan (FSA), Canada (IIRO), the United Kingdom (FCA), Hong Kong (SFC), Singapore (MAS), the Cayman Islands (CIMA) and Australia (ASIC).

The city index, for its part, is fully regulated by the Financial Conduct Authority in the United Kingdom and participates in the Financial Services Compensation Plan of the FCA. This allows eligible claimants compensation if the City Index can not meet its financial obligations.

Other Services:

In addition to its commercial platforms described in the previous software section, City Index offers its customers access to its technical analysis portal. Developed by Recognia, the portal scans the market in real time in search of graphics patterns that could present commercial opportunities.

Another service offered by City Index is a real-time trade signals alert service sent by SMS or directly to your email account. By partnering with Faraday Research, City Index offers its customers a free 30-day trial of UK FX or UK Equities Daily Trading Signals.

City Index Conclusion

With more than 34 years in the business, a pioneer in both the market of operations of propagation and in the CFD trading market, the experience of the broker is superior to that of any other online broker with which this writer is familiar. The company has excellent educational resources for novice operators and a sophisticated and fully customizable operating platform for experienced operators.

In addition, the competition of the company’s trading spreads, the choice of three trading platforms, including the MetaTrader 4 platform, an excellent news service powered by Reuters and other valuable features in its patented trading platforms, make City Index a viable candidate to be considered by traders all skill levels

Trading in CFDs, Spread Bets and Foreign Exchange carries a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for everyone. Make sure you fully understand the risks involved and seek independent advice if necessary.

Please note that certain products and / or multiplier levels may not be available to traders in EEA countries due to legal restrictions.

 

Comments on the City Index Review