City Index is a leading forex and CFD broker with many assets and trading platforms. Traders can choose from multiple platforms, including City Index’s proprietary platform and the popular MetaTrader 4 (MT4) platform, providing traders with a familiar and user-friendly trading experience. In addition, City Index offers mobile trading apps for iOS and Android devices, allowing traders to keep up with the markets and trade on the go.

Traders can use the City Index’s range of assets, including forex, indices, commodities, and cryptocurrencies. Additionally, the City Index provides traders with competitive spreads on these assets, which can help to lower transaction costs. Traders can also access various innovative tools and features, such as the Advanced Trading Platform and AutoChartist, to help them make more informed trading decisions. 

City Index also offers excellent customer support, with phone, email, and live chat support options, as well as in-person support at their Singapore office. With a range of demo accounts available, including a Robox Forex demo account, traders can try out City Index’s trading platforms and features before committing to a live account.

This Index City Index review will reveal everything you need to know about the broker. 

SUPPORTED COUNTRIES

City Index is a global forex and CFD broker that accepts clients from numerous countries around the world, including the United Kingdom, Singapore, Australia, Germany, France, Spain, Italy, Switzerland, United Arab Emirates, Hong Kong, Japan, China, South Africa, Canada, United States, Brazil, Argentina, Chile, Mexico, Colombia, Peru, Turkey, Sweden, Norway, Denmark, Finland, Poland, Czech Republic, Slovakia, Hungary, Greece, Romania, Bulgaria, Croatia, Serbia, Slovenia, Cyprus, Malta, Israel, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, India, Indonesia, Malaysia, Thailand, Vietnam, Philippines, and South Korea.

City Index does not permit the trading of CFDs to traders from the United States, Canada, Brazil, Belgium, Hong Kong, and Japan due to legal restrictions. 

Customer Service Rating

City Index is known for providing excellent customer service to its clients, as evidenced by its high ratings on various review sites. Forbes gives the broker a 4.4-star rating, while Nerdwallet gives it a perfect 5-star rating. 

These high marks are a testament to the broker’s commitment to its clients and their needs. City Index offers multiple channels for customer support, including email, phone, and live chat. The broker’s representatives are knowledgeable and responsive and available 24/5 to assist clients with any questions or issues they may encounter. 

City Index’s customer service rating is among the best in the industry, making it an excellent choice for traders of all levels.

City Index Trading Platforms

• MT4 Platform: The City Index MT4 platform is a popular trading platform known for its stability, flexibility, and advanced charting capabilities. City Index provides its clients with access to the MT4 platform, which is available as a desktop application, web trader, and mobile app. The MT4 platform allows traders to access various trading tools, including technical indicators, charting tools, and automated trading strategies.
• Web Trader: City Index’s web trader platform is an easy-to-use platform that can be accessed from any web browser. The platform is designed to provide traders with a fast and reliable trading experience. It offers various trading tools, including real-time charts, technical indicators, and news feeds. The web trader platform is ideal for traders who prefer to trade on the go or who want to avoid downloading any software onto their computers.
• Mobile Trading App: City Index’s mobile trading app is available for both iOS and Android devices. It offers a user-friendly interface that makes trading on the go easy and convenient. The app allows traders to access real-time market data, execute trades, and manage their accounts from their mobile devices. The mobile trading app is ideal for traders who want to stay connected to the markets while moving.
• TradingView: City Index’s TradingView platform is a powerful charting and analysis tool that allows traders to create custom charts, use technical indicators, and analyze market trends. The platform is available as a desktop application, web trader, and mobile app, and it is designed to provide traders with a fast and reliable trading experience. TradingView is ideal for traders who want to perform advanced charting and analysis.

Trading Denominations

City Index offers trading in a variety of currency denominations. These include the US dollar (USD), British pound sterling (GBP), euro (EUR), Swiss franc (CHF), Japanese yen (JPY), Australian dollar (AUD), Canadian dollar (CAD), and New Zealand dollar (NZD). 

With a range of currency options, traders can choose the denomination that is most convenient for them. This helps to reduce conversion fees and minimize the impact of currency fluctuations on trading performance.

COMPANY STRUCTURE

City Index is a well-established financial trading company that was founded in 1983. The company has its headquarters in London, UK, and is a part of the GAIN Capital group. It is regulated by the UK’s Financial Conduct Authority (FCA) and registered with other regulatory bodies in different countries where it operates. City Index offers its clients a range of financial products to trade, including forex, indices, shares, commodities, cryptocurrencies, and more.

As of 2023, City Index has more than 400 employees and offices in different countries worldwide, including the UK, Australia, Singapore, and the UAE. With over one million customers and 1200+ trading partners. The company prides itself on its technology and has invested heavily in its trading platform to ensure that it is user-friendly and reliable. City Index offers its clients the option of trading through its proprietary platform, social trading, mobile app, or the popular MetaTrader 4 platform.

City Index has received positive reviews from traders and industry experts. The company has won several awards over the years, including the Best Spread Betting Provider award from Shares Magazine in 2021. City Index also offers its clients a range of City Index promotions and City Index bonuses, including a welcome bonus for new clients who open an account and make a qualifying deposit. Additionally, the company offers demo accounts that allow traders to practice trading strategies before risking real money in the markets.

Overall, City Index is a reputable and reliable trading provider with a long history in the industry. The company’s commitment to technology and customer service has earned it a loyal customer base. Its range of financial products and promotions make it a popular choice for traders worldwide.

City Index Licenses and Regulatory Compliance

• City Index is licensed and regulated by several regulatory bodies, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, and the Monetary Authority of Singapore (MAS).
• The FCA license number for City Index is 113942, obtained in 1983.
• City Index’s ASIC license number is 328794, obtained in 2005.
• The MAS license number for City Index is CMS100648-1, obtained in 2012.
• City Index also complies with the Markets in Financial Instruments Directive (MiFID II), a European Union regulation that enhances investor protection and promotes fair competition among financial services providers.

City Index Customer Protection 

City Index takes customer protection seriously and implements various measures to ensure the safety of its client’s funds and personal information. Some of the ways City Index provides customer protection are:

• Segregated Accounts: The City Index ensures that clients’ funds are separated from the company’s operational funds and held in segregated bank accounts. This measure helps protect clients’ funds in case of any unforeseen financial difficulties the company faces.
• Negative Balance Protection: The City Index offers negative balance protection, ensuring clients cannot lose more than their account balance. This feature is essential for traders using leveraged products like CFDs.
• Security Measures: The City Index implements state-of-the-art security measures to ensure the safety of clients’ personal and financial information. The platform uses advanced encryption technology to protect sensitive data and offers two-factor authentication for added security.

TRADING INFORMATION

City Index provides traders with a comprehensive range of trading instruments, including forex, indices, shares, commodities, cryptocurrencies, and options. Traders can choose from over 12,000 markets to trade on, allowing them to diversify their trading strategies and access a wide range of financial assets.

The minimum trade size on the platform varies based on the instrument and asset class, starting from 0.1 for forex, 0.05 for indices, and 0.1 for commodities. The maximum trade size for forex pairs is up to 50 lots, while indices and commodities have a maximum trade size of up to 100 lots and 50 lots, respectively. City Index also allows traders to open positions in micro lots, making it more accessible to retail traders. 

Leverage on City Index

Leverage is an essential aspect of trading that allows traders to control many assets with a smaller amount of capital. City Index offers a range of leverage options for traders depending on their trading instrument. For forex pairs, the maximum leverage available is up to 30:1, while for major indices such as the S&P 500, leverage is up to 20:1. 

Commodities such as gold, silver, and oil have a maximum leverage of up to 10:1. It’s important to note that leverage can be a double-edged sword, as it can increase profits but also amplify losses, so it should be used with caution and proper risk management strategies.

Deposits and Withdrawals

Deposit 

The minimum deposit required to open an account is $250. Deposits can be made using credit or debit cards, bank transfers, and electronic wallets like PayPal and Skrill. City Index does not charge any deposit fees, but the payment provider may impose fees.

Withdrawal 

Withdrawals can be made using the same methods as deposits, and there are no fees for withdrawals. However, it is important to note that the receiving bank or payment provider may impose charges. City Index aims to process withdrawals within 1-2 business days, but it may take longer for the funds to reach the recipient’s account, depending on the payment method used.

Please note that processing times may vary based on the payment method and location of the user. It is important to check with City Index for the most up-to-date information regarding deposit and withdrawal methods.

City Index Trading Education and Training

City Index provides comprehensive educational resources and training materials to help traders of all levels improve their trading skills and knowledge. The company offers a range of educational resources, including video tutorials, webinars, trading guides, and a dedicated educational portal. The educational portal includes a wide range of content, such as trading strategies, technical analysis, and market commentary. 

Additionally, City Index provides access to trading and analysis tools, which can help traders make more informed trading decisions. The trading education and training resources provided by City Index are designed to help traders develop their trading skills and improve their overall trading performance.

CONCLUSION

City Index is a reputable and reliable forex broker that offers a variety of trading instruments and platforms. With its licenses from top regulatory bodies, customers can rest assured that their funds are safe and secure. City Index also provides its customers with ample trading education and training resources to help them navigate the forex market successfully.

Furthermore, City Index’s customer protection measures, including negative balance protection and segregated funds, give customers peace of mind when trading. The minimum deposit requirement of $250 is affordable for most traders, and the variety of payment methods available makes deposit and withdrawal seamless. 

With its user-friendly trading platform and excellent customer service, City Index is an ideal choice for both beginner and experienced traders looking to trade forex, spread betting, and CFDs. City Index is an excellent broker with an outstanding reputation in the industry, and it is worth considering for your trading needs.