City Index

City Index

4.6 rating

We’ve spent more than 13.5 hours reading client and expert reviews to bring to you the most comprehensive City Index guide for 2020. Let us help you decide whether City Index is the right broker for you. Broker Feature City Index Maximum Leverage: 200:1 Minimum Deposit: £100 Trading Platforms: AT Pro, MT4, Web Trader Trading […]

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City Index

We’ve spent more than 13.5 hours reading client and expert reviews to bring to you the most comprehensive City Index guide for 2020. Let us help you decide whether City Index is the right broker for you.

Broker Feature City Index
Maximum Leverage: 200:1
Minimum Deposit: £100
Trading Platforms: AT Pro, MT4, Web Trader
Trading Options: CFDs, Forex, Stocks, Crypto, Spread Betting
Allows Hedging: Yes
Allows Scalping: No
Demo Account: Yes,  £10,000 in virtual funds
Founded: 1983
Headquarters: London, United Kingdom
Regulating Authorities: FCA, ASIC, MAS, UAE

City Index – Pros

  • Global presence
  • Licensed by eight prominent authorities, among those are the FCA, ASIC, MAS, UAE
  • Parent company listed on NYSE
  • Veteran of the industry with 37 years of experience 
  • An expansive range of over 12,000 tradable assets
  • Special features: spread betting, trade execution, analytics tools, trading signals
  • Competitive spreads and commissions
  • A multi awarded built in house platform  – AT Pro with versions available for all devices
  • Strong analytics on offer
  • Extensive education library
  • Powerful collection of research and analytics tools: Trader Central, Reuters news feed, market intelligence

City Index – Cons

  • Does not serve clients in the US
  • Reduced number of payment options
  • No social trading
  • Scalping is not allowed

Broker Presentation

One of the oldest brokers in the trading industry is City Index. Today, City Index is part of a powerful financial group listed on the New York Stock Exchange, GAIN Capital Holdings, Inc. (NYSE: GCAP). Their mission is to be a “stable partner invested in your success“, offering investors a wide selection of over 12,000 financial instruments, spanning across Forex, indices, shares and cryptocurrencies. CFD trading and spread betting is available on a selection of markets including bonds, commodities, options and interest rates. City Index launched in 1983, in London UK, as a spread betting broker. In 2001, CFD trading was added to the repertoire of services and in 2005, with the added acquisition of the IFX Group, City Index began offering Forex markets. Their presence in the Forex trading industry was reinforced in 2008 with the acquisition of FX Solutions. In 2014, City Index was sold and became part of the GAIN Capital Holdings, a group with annual trading volumes surpassing $3 trillion. In the current day, City Index serves more than 150,000 traders in over 180 countries, and over $978 million in client assets as of 2018. It has offices in Sydney, Dubai, Shanghai, Singapore and Hong Kong, among others. 

City Index Services
City Index Services

When investors delve deeper and do their research on City Index, they will quickly discover why this is the preferred broker among a wide variety of traders at different stages of their trading journey. There are many reasons as to why this is so, but below are a few standouts: 

  • Extensive collection of tradable assets
  • Competitive spreads
  • Fast execution
  • Premium research tools
  • Reliable platform options
  • Safety and trustworthiness

City Index is licensed in eight jurisdictions and its parent company is listed on the NYSE, which is a huge plus in terms of reliability, trust and security. As far as trading platforms go, this broker offers their own proprietary platform, namely AT Pro and MT4 As one of the oldest brokers in the industry, City Index has also won a large collection of awards; in 2019 alone, they received 26 trophees. Among the most recent won, they’ve been awarded Best CFD Provider 2020 and Best Platform for the Active Trader 2020 by ADVFN International Financial Awards, Best Professional Trading Platform 2019 awarded by Shares Awards, Best Professional Trader Service 2020 and Best CFD Provider 2020 awarded by London Trader Show.

Safety and Regulations

Score 5 out of 5 Licences, safety and regulations are arguably the most important criteria you should pay attention to when choosing your Forex broker. These factors play an important role in your research and due-diligence of brokers, because without strong safety and regulation, you may be at risk of choosing an unregulated broker.  City Index, surpassing almost 40 years of experience in financial markets, has passed the test of time. Being a subsidiary of a business entity listed on the New York Stock Exchange, this is solid proof of sustainability, safety and transparency to traders.  City Index is regulated in eight jurisdictions around the world and depending on your country of residency, you will be registered to trade under a specific regulatory body. City Index complies with the regulations requested by the following regulatory bodies:

Investors trading under the licence of FCA benefit from the protection imposed by this regulatory body, of up to £85,000 for retail clients. This means that in the event a broker files for bankruptcy, the Financial Services Compensation Scheme will compensate the clients for the balances of their accounts.  Also, these clients benefit from negative balance protection and segregated accounts. Negative balance protection means that a client cannot lose more than the sum of money existing in their trading account. Segregated accounts are another layer of client protection, which protects client funds from being used operationally by the broker, in the event the broker undergoes financial hardship. Client funds are held in separate bank accounts from those belonging to the broker, which cannot be used by the broker for their current operations.  Non-EU clients and professional clients do not benefit from any type of protection. 

City Index - FCA Gain Capital UK
City Index – FCA Gain Capital UK

Offer of Financial Instruments

Scoring: 5 out of 5 Any City Index broker review cannot refrain from acknowledging the numerous financial instruments on offer, which is quite expansive; over 12,000 tradable assets are available to retail and corporate clients. It can easily satisfy the diversification preferences of most, if not all, sophisticated traders, investors or asset manager.  City Index offes sad betting and CFD trading on indices, shares, Forex, cryptocurrencies and secndary markets like bonds, commodities, options and interest rates.  The list of financial instruments available at City Index are as follows:

  • Indices – 21 global indices are available for spread betting and CFDs. Trade major indices and thematic indices like Crypto10, FAANGS and Cannabis
  • Shares – An alluring collection that includes over 4,500 stocks of the most prominent companies listed on exchanges around the world 
  • Forex –  An extended collection of 84 currency pairs (majors, minors and exotics) available for trading as spot FX, options contracts and forwards 
  • Cryptocurrencies – 5 cryptocurrencies trading as CFDs, among which Bitcoin, Ethereum, Ripple, Litecoin
  • Commodities – 25 commodities traded as CFDs including 5 spot metals, energies and agricultures, plus commodity futures
  • Bonds –  12 Bonds traded as CFDs. Most important European, US and UK bonds like Euro Bund, US T-Bond, UK Long Gilt, US T-Note
  • Options – 20+ markets available to trade options 
  • Interest Rates –  3 Interest Rates markets: Eurodollar; Euribor 3mnth; Short Sterling 3mnth 
CIty Index - Tradable Market Offering Website
CIty Index – Tradable Market Offering

Differentiation Elements and Unique Features

Scoring: 5 out of 5 When speaking about elements of differentiation, City Index is again leading the way, with a range of unique features. The most important are:

  • Spread Betting
  • AT Pro Platform
  • Trade Execution
  • Strategy Tools
  • Trading Signals

Spread Betting

The initial service offered by City Index at inception was spread betting. The broker continues to offer this service today.  Spread betting is advantageous because in certain jurisdictions you don’t have to pay tax, for examples in the UK. This is because trading on leverage requires you to trade on the price movements of assets and you don’t  have any ownership over the physical asset itself, and thus, taxes may be foregone in various countries. In the UK, for example, you don’t pay Stamp Duty or UK Capital Gains tax on any profits incurred when spread betting.

City Index - Tutorial on Spread Betting
City Index – Tutorial on Spread Betting

Spread betting with City Index gives you access to over 8,000 markets. City Index is not only one of the oldest of spread betting providers, but Online Personal Wealth Awards awarded them “Best Spread Betting Provider 2019”. Spread Betting is one of the most cost efficient methods to profit on financial markets. The cost of trading is the difference between the bid and the ask, plus the swap if you maintain the leveraged position overnight. Taking into consideration that you also have the option of using a guaranteed stop loss, which is also an additional cost, as you have to pay a premium when the stop loss is triggered.  

AT Pro Platform

AT Pro is the proprietary platform of City Index, built in-house, and designed to suit the trading needs of professional and advanced traders. This is a multi award-winning platform that boasts innovative functionalities and a 100% customisable layout. One great advantage of AT Pro is that if you are familiar with programming languages you can design your own personalised trading templates in .NET, C#  and Visual Basic. Alternatively, you can always choose among the myriad of built-in templates.  Key benefits of AT Pro:

  • Advanced charting capabilities with over 100 built-in indicators for detailed technical analysis
  • Multiple chart types available
  • Extensive possibilities for personalising trading templates and even having the ability of creating your own with the development studio of AT Pro
  • Large collection of drawing tools
  • Trading signals displaying directly on the charts
  • Backtesting tool based on Excel to be able to check your strategy against historical data 
  • Customisable Economic Calendar
  • Embedded news feed from Reuters 
  • Direct access to City Index’s analytics portal
City Index - AT Pro Desktop Trading Platform View
City Index – AT Pro Desktop Trading Platform View

Trade Execution

City Index provides an orders execution technology of high calibre, which equips their traders with a real competitive edge. For example, if you place an order and the price advances in your indicated direction, the order will be executed in your favour at the better price.  City Index uses a price improvement technology that allows an extensive range of orders and the possibility to have long and short orders opened on the same instruments, at the same time.  Advantages of City Index’s execution technology:

  • Maximises trading resources using unrealised profits as margin
  • Discounted costs for futures roll-overs. When automatically rolling over your futures positions at the expiration date, you will benefit from a 50% reduction on the spread when closing the position
  • Hedging is allowed
  • Close or add to existing positions in increments. You have the option to choose which order to close first via a “first in first out” (FIFO) setting 
  • Margin call at 50% – trades will be closed if your available funds drop below 50%
  • Possibility to customise the settings for your trades, such as one-click trading, setting your price tolerance per instrument
  • Use a variety of order types: stop loss, limit orders, stop and limit entry order, one-cancels-other order (OCO), guaranteed stop loss, trailing stop 

Strategy Tools

City Index offers their traders a whole array of technical analysis and fundamental analysis tools for advanced market research and trade ideas.  In terms of technical analysis tools, they’ve teamed up with Trading Central, which scans the markets, identifies chart patterns and generates trading opportunities. The purpose is to minimise the time you spend making research yourself.  The research portal offers the following technical elements:

  • Identifies trading opportunities
  • In-depth market analysis and market research
  • Screens the markets and provides detailed information
  • Determines stops and limit levels
  • Sends alerts and notifications 
City Index - Technical Analysis Offering
City Index – Technical Analysis Offering

The fundamental analysis tools provided by Trading Central are:

  • Stock valuation
  • Best buy opportunities among global stocks
  • Company metrics
  • Global data for major financial markets
  • Filter trading opportunities
  • “What if” analysis 

Trading Signals

Once you become a client of City Index, you can sign-up to receive free SMS alerts when volatility is occurring on the markets and the price of your chosen financial instrument/s increases.  SMS volatility alerts help you keep an eye on the markets and not miss advantageous opportunities. Usually, when your chosen asset experiences price movements between 0.25% – 2% you will receive an alert on your phone. You can select as many assets as you desire. 

City Index - Trading Signals and Alerts
City Index – Trading Signals and Alerts

International Presence – Covered Countries

Score: 4.7 out of 5 City Index is licensed in several jurisdictions and offers their services world wide, with the exception of jurisdictions that forbid CFD trading. City Index does not accept clients from United States, Belgium, Japan, Brazil, Hong Kong, among others.

Account Types

Scoring: 4.5 out of 5 City Index has a simple classification of accounts, which are named after the different modes of trading. This broker offers three types of accounts:

  • Spread Betting Account
  • CFD Trading Account 
  • FX on MT4 Account
City Index - Account Types Offered: CFD, Spread Betting, Forex
City Index – Account Types Offered

Spread Betting Account

This type of account is the best trading option for UK clients as they benefit from tax-free trading. Online Personal Wealth Awards selected City Index as the “Best Spread Betting Provider 2019”. The main features of a Spread Betting Account are the following:

  • As the name indicates, it’s an account dedicated to spread betting
  • It’s fully functionable on the City Index trading platform, both desktop and mobile applications
  • In Spread Betting you use pounds per point
  • Trade on over 8,000 instruments Indices, FX, Shares, Commodities, Interest Rates and Bonds  
  • Minimum trade size of 50p per point 
  • No commissions 
  • When trading shares there is no commission, but you will pay a higher spread
  • Spreads start with 0.5 points for FX pairs 
  • Margin requirements from 3.33% on Forex, 5% on Indices and 20% on Shares
  • No UK Stamp Duty and no UK Capital Gains Tax (at the time of writing this review)
  • Risk management tools: limits, stops, trailing stops, OCOs and guaranteed stops 
  • Trading tools available HTML 5 charts, research portal, economic calendar and Reuters news 

CFD Trading Account

This type of account is best suited for clients residing outside of the UK and for those who hedge as part of their trading strategy. City Index was awarded the “Best CFD Provider 2019” trophy by ADVFN. The main features of the CFD Trading Account are as follows:

  • As the name indicates, it’s dedicated to trading the wide array of CFDs offered by City Index
  • It’s accessible on the City Index native platform, for both desktop and mobile applications
  • You can trade over 4,000 instruments from the following asset classes: Indices, FX, Shares, Commodities and Bonds  
  • Minimum trade size is 1 lot for Forex pairs
  • Spreads start with 0.5 points on Forex pairs
  • No commissions except when trading share CFDs; a commission starting from £10 or 0.1% is paid when trading share CFDs.
  • Margin requirements from 3.33% on Forex, 5% on Indices and 20% on Shares
  • No UK Stamp Duty, but you are required to pay UK Capital Gains Tax (at the time of writing this review)
  • Risk management tools available to traders are limits, stops, trailing stops, OCOs and guaranteed stops 
  • Trading tools available are HTML 5 charts, research portal, economic calendar and Reuters newsfeed

FX on MT4 Account

This account operates on the worldly renowned MetaTrader 4 platform. 

The Main characteristics of trading FX on an MT4 Account are the following:

  • You’re trading on the MetaTrader 4 platform, which is compatible with iOS and Android
  • Ultra tight spreads are available 
  • Trade over 80 Forex pairs – majors, minors and exotic pairs
  • Use Expert Advisors to automate your trading strategy, either download or create your own trading strategy and robots via MQL4 programming language
  • Comes equipped with the standard MT4 charting package: indicators, timeframes, chart types, drawing tools
  • Use the customisable economic calendar provided by City Index to your advantage when completing fundamental analysis 

In addition to the above-mentioned account types, City Index categorises their clients according to the following trader types: Retail Traders, Premium Traders and Professional Traders.  Premium Traders are classified as active traders, who maintain an account balance of greater than £10,000 and have received an invitation from City Index to join the program.  The advantages of the Premium Trader are:

  • Competitive pricing
  • Priority service and a dedicated City Index manager
  • Invitations to events, seminars, webinars, access exclusive content and other rewards
  • Superior market data and Reuters news feed on demand
  • Negative balance protection

The Professional Trader has to meet specific criteria to qualify for this classification. The requirements for this classification of trader are similar, if not the same, requested by other brokers:

  • Significant trading volume over the past year, with at least 10 large transactions
  • Financial portfolio of over €500,000
  • Relevant experience in the industry of at least one year

As a Professional Trader, you will still benefit from the segregated accounts. However, you will forego the following benefits: negative balance protection and lower leverage limits.  

Account Opening

To open an account with City Index you must simply look for the green “Create Account” button on the top right corner of any page of the website. The online application process is simple and very similar to those required by other licensed brokers. To start off with, you have to insert your personal details: country of residence, name, date of birth, phone number, email address, username and password. Next, you have to confirm your address, complete a questionnaire about your financial experience and wealth, and lastly complete the application with a KYC (Know Your Client) process. As a regulated entity, City Index is required to verify their clients by requesting a proof of identity (passport, driving license or national ID card) and a proof of residence (bank statement or utility bill). The whole account opening  process will take several minutes and, in general, your account is generally approved within one business day.

City Index - Online Application Form
City Index – Online Application Form

Demo Account

The demo account is an essential feature that any market-leading broker offers clients. City Index offers two types of demo accounts: a demo account for their proprietary platform and an MT4 demo account. The demo account for AT Pro (proprietary platform) is loaded with £10,000 in virtual funds and is valid for three months. You can access all the platform’s features, and tools, and thousands of tradable assets.  The MT4 demo account offers you unlimited access to all the features of an MT4 live account and over 100 Forex pairs and CFDs. It comes loaded with a virtual sum of £10,000 and will expire in three months.  The demo account is a valuable feature as it allows clients to test the services of their desired broker, prior to opening a real account. No matter your trading experience, you should always use a demo to trial and test, before committing.  If you’re already experienced, then your reasons for trying a broker’s platform is to test the platform’s unique tools, features and markets. Or, you are more inclined to test new trading strategies based on EAs or indicators provided by your broker.  If you’re a beginner trader, then it’s highly recommended that you use the demo account to learn the basics of trading and gradually build the required skills to become profitable. You should use a demo account until you’re comfortable trading with real funds. Start trading with small sums of money that you can afford to lose. 

Spread, Fees and Commissions

Scoring: 4.5 out of 5 City Index is fully transparent in regards to the costs involved with CFD trading and spread betting activity. All the spreads, commissions and swaps are clearly detailed in the “Pricing and Charges” section of the website and also in the platforms. .  This broker offers variable and fixed spreads and margins starting from 3.33% for retail clients. For financing LIBOR +/-2.5% is used as benchmark. City Index offers competitive pricing for CFD trading and spread betting, which is in-line or slightly below those offered by their direct competitors. In general, spreads are lower for the clients using AT Pro platform and higher for MT4 clients.  The trading costs fluctuate with the account type, asset class and moment in the market.  In terms of commissions, City Index charges no commissions for spread betting and CFD trading, with the exception of Share CFDs. 

Indices CFD Trading 

Trading indices has very competitive minimum fixed spreads starting with 1 pip for major indices like AUS200, UK100, DAX30 and margin requirements of 5%.

City Index - Indices Spreads and Margins
City Index – Indices Spreads and Margins

Share Trading 

When trading equities, a commission fee is applied and not a spread. Commission fees start from 0.08% (€10 minimum) for EU and UK shares, 1.8CPS ($10 minimum) for US markets and 20% margin is required for each trade. 

City Index - Shares Spreads, Commission, Margin
City Index – Shares Spreads, Commission, Margin

Forex Trading

Trading costs for Forex are rather low and very competitive within the industry. For example, for EUR/USD the minimum spread is 0.5 pips, the typical spread is 0.8 pips and margin from 3.33%. For AUD/USD, the minimum spread is 0.5 pips, the typical spread is 0.9 pips and margin from 5%.

City Index - Forex Spreads and Margins
City Index – Forex Spreads and Margins

Interest Rates Trading

Trading interest rates have fixed spreads starting from a minimum of 0.02 points for Short Sterling 3 month, Eurodollar, Euribor 3 month and 20% margin requirements.

City Index - Interest Rates Spread and Margins
City Index – Interest Rates Spread and Margins

Financing charges or swaps are incurred for positions that are held open overnight except for the futures contracts. This is the cost of leverage and is calculated based on the regional interest rate +/- 2.5%. For example, for the UK, EU and US the benchmark is LIBOR, for Australia it’s Deposit.  City Index clients have the possibility to use a Guaranteed Stop Loss Order (GSLO) and this comes with a premium, if the stop is triggered. This GSLO is valid for thousands of financial instruments and you will find the costs associated with each inside the platform.  Professional clients using the AT (Advantage Trader) platform may profit on orders-aware margins, which translates as follows: if a stop loss is placed on the order, the margin required for the respective position will be reduced.  Futures contracts that are set to roll automatically benefit from a 50% discount for the closing spread. For spread betting, this is done automatically by the platform, but for CFDs you have to make a request by phone.  City Index charges an inactivity fee for accounts that have been inactive (meaning no order was placed during this period) for more than 12 months. The monthly inactivity fee is £12 or equivalent currency. 

Deposits and Withdrawals

Score: 3.5 out of 5 City Index doesn’t have an easily navigable section on the website for deposits and withdrawals. A potential client has to dig around for this information, as it’s somewhat hidden from the rest of the website. The necessary details regarding deposits and withdrawal options are presented in the “Help and Support Section” of their website.  In comparison to their competitors’ offering, City Index proposes fewer payment options. And these are:

  • Credit card: Visa and MasterCard
  • Debit card: MasterCard, Visa, Electron and Maestro 
  • Bank wire
  • PayPal

It’s worth mentioning that you cannot use Citibank cards to fund your account.  City Index does not charge fees for deposits and withdrawals.  They do not accept third party payments, the name of the trading account and the funding source should be identical. Cash payments into their bank account are not accepted either.  You can withdraw a minimum of £100 or your available balance and a maximum of £20,000 in one transaction. Withdrawals may take up to 3-5 business days.  To deposit and withdraw money to/from your City Index trading account, you have to login, go to the Funding section and choose Fund/Withdraw and initiate the operation.

Minimum Deposit

Score 4.9 out of 5 The minimum deposit recommended by City Index is £100, in order to have enough margin to open a trade. This is a feasible amount for  anyone who is interested in trading the financial markets.

Desktop Trading Platforms

Score: 4.7 out of 5 City Index has a solid selection of trading platforms. Their own, multi award-winning proprietary platform “AT Pro” and the world standard trading platform MetaTrader 4. You can download any of them on their website in the corresponding sections.

City Index - Trading Platforms: Desktop, Laptop
City Index – Trading Platforms

AT Pro Platform

To take advantage from the very best of promotional campaigns and the best prices offered by City Index, you should use the AT Pro platform.  The AT Pro platform has a downloadable desktop version, web version and mobile version for iOS and Android.  AT Pro is a great gateway to access the financial markets for advanced traders and is fully customisable. It distinguishes itself by several outstanding characteristics:

  • Trading signals available directly in the chart with specified entry and exit levels
  • A wide selection of free trading templates; there are over one hundred to choose from or create your own with the help of AT Pro’s Development Studio, using the programming languages  C#, Visual Basic, .NET 
  • High calibre of backtesting facilities 
  • 100+ technical indicators for a solid technical analysis and customisable charts 
  • Manage orders directly from the chart by dragging the corresponding lines
  • Multiple chart types to choose from the candlestick, Heikin Ashi, Point and figure 
  • Extensive collection of drawing tools, including trend lines, Fibonacci retracement, support and resistance 
  • 15 time frames types available
  • Customisable economic calendar
  • Real time news feed from Reuters accessible within the platform
  • Insights from the City Index analysis portal displayed in the platform
  • Hedging tools
  • Multiple types of orders: stops, limits, OCOs, “if done” orders, guaranteed stops and trailing stops
  • Option of closing partially an order 
  • Improved speed and high efficiency 
City Index - AT Pro Dashboard View
City Index – AT Pro Platform Dashboard

AT Pro works only on Windows.

City Index MetaTrader 4

MetaTrader 4 provided by this brokerage comes as its standard version without further add-ons, but delivers the high speed of execution of City Index services, their market analytics and pricing.  This is a very reliable option for Forex traders that prefer algorithmic trading via expert advisors. The main features of MT4 are:

  • Customisable economic calendar
  • Professional charting 
  • Allows the use of MQL4 designed expert advisors and trading strategies
  • Customised indicators

City Index Web Trader

Web Trader is the web version of the City Index trading platform, based on HTML5 technology.

City Index - Web Trader Platform Dashboard
City Index – Web Trader Platform Dashboard

Web Trader is the platform option that allows you to trade directly from the browser without any download. Web Trader is a powerful and high performance trading tool thanks to:

  • The reliable and fast HTML5 technology 
  • Customisation capabilities that offer high liberty to personalise your workspace 
  • Smart trading tools (trade tickets) and risk management capacities
  • Advanced charting with custom indicators and efficient drawing tools
  • Possibility to trade directly from the chart and overlay multiple instruments
  • Real time margin calculator
  • Advanced search function
  • Curated market news from Reuters and market analysis displayed inside the platform
  • Sophisticated types of orders including OCOs and guaranteed stop loss orders
  • Possibility to set alerts, notifications and to view detailed reports 
City Index - Web Trader Tutorial
City Index – Web Trader Tutorial

Mobile Trading Platforms

Score 4.7 out of 5 City Index offers two suites of mobile trading platforms: AT Pro mobile versions for iOS and Android and MT4 for iOS and Android. 

AT Pro Fro iOS and Android

City Index - iOS Mobile App Tutorial
City Index – iOS Mobile App Tutorial

There are mobile versions of the City Index platform available to traders, designed for Android and iOS. You can download them each from the “Platforms and Products” section of the site or from their respective stores. The mobile versions are very intuitive, user-friendly and have a modern design. Their main feature is that they permit trading on-the-go from anywhere in the world. The most interesting characteristics of the AT Pro mobile trading platform are:

  • Real time TradingView charts plus over 60 custom indicators by default 
  • High level customisation capabilities for watchlists and charts 
  • Intelligent trade ticket 
  • Trade with one click directly from the chart
  • Life chat embedded for direct support
  • Account synchronised on all devices 
  • Reuters news feed and customised economic calendar

City Index - AT Pro Mobile Trading App TradingView Charts City Index – AT Pro Mobile Trading App TradingView Charts

Configure Trading Accounts

As usual, configuring your trading accounts is a very smooth procedure. When creating your account, you choose your ID and password, which will then be used to login into the platform (regardless of which version you’re using).  If you’re using your desktop, then you will be prompted to download and install the desktop version of the platform. If you decide to use Web Trader, then you will be directed instantly from the site to the platform in your browser. You will find a series of short videos for each version of the platform on their website, indicating how to install, use and personalise your trading work space.

Training, Education and Resources

Score 4.8 out of 5 The research and education sections of the City Index website are top notch. Their analytics team has received multiple awards and is frequently cited in prominent financial publications.  City Index proposes high level research and analytical capabilities. Through their partnership with Trading Central, their clients are equipped with an excellent set of technical analysis tools that is offered by default with the AT Pro platform. In addition to this, there is a comprehensive fundamental analysis and global news stream directly embedded in the platform. The very content-rich “News and Market Analysis” section is updated multiple times a day with week ahead reports, current events that move the markets and most interesting instruments of the moment analysis. Inside this section you may see topics like: Week Ahead: Bank Earnings to Battle with COVID-19 for Traders’ Attention;  China’s CPI up 2.5%; EUR/USD Stays Below 1.1300 as Risk Appetite Shrinks; Nasdaq Jumps on Jobs Report; Gold Intraday: Gathering More Upside Momentum; The Bitcoin Halving: What Traders Need to Know. 

City Index - News and Market Analysis Webpage
City Index – News and Market Analysis Webpage

The News and Market Analysis section is organised by popular topics, so you can easily access trending news, such as COVID-19, Brexit Hub, Cryptocurrencies, US-China Trade War.  The category of Fundamental News is well presented with an Economic calendar and Company Earnings section.  City Index periodically hosts Market outlook webinars, which help their traders gain a deeper understanding and insight into current market evolutions. In addition to this, as a City Index client you get access to a plethora of trading strategies and trading alerts.  The “Training” section of the City Index Website offers a comprehensive library of video materials and written resources to help traders build a solid trading knowledge, no matter their level.  The Training section includes:

  • Introduction to Forex – this section presents the foundation of financial markets and includes topics like CFD Trading; Spread Betting; Forex Trading; Crypto Trading; Technical Analysis; Fundamental Analysis; Trading Strategies.
  • New trader courses – a section dedicated to beginners to help them build their knowledge base and treats subjects as Trading Commodities; Futures Contracts; Interest Rates; Options Trading, Bonds Trading.
  • Experienced trader courses – for more advanced traders a selection of strategy related topics: Trading Strategies: Options Trading Strategies; Optimising Your Trade Entry; Running Profits; Planning Your Trade Exit.
  • How to trade with City Index – this is a section dedicated to the unique features and benefits of trading with City Index, and how to take advantage of their offering. You can find content within this section that covers the following topics: City Index Research Tools; Guide to Orders; Trailing Stops; Guaranteed Stops; OCOs; If-done Orders; Corporate Actions and Dividends.
City Index - Risk to Reward Ratio - Education Section
City Index – Risk to Reward Ratio – Education Section

Customer Support

Score 4.3 out of 5 Customer support is an important service for traders, in case unexpected issues arise while trading. The City Index customer support department is available 24/5 and may be reached via:

  • Email 
  • Live chat
  • Phone 

City Index has a very well organised Help and Support section, where traders can find the answer to the most common problems incurred or frequently asked questions.  City Index is active on social media, so, they can also be contacted via these channels:

  • Facebook
  • LinkedIn
  • YouTube
  • Twitter

Bonus and Promotions

As City Index is a regulated entity, City Index is not allowed to offer promotional schemes in certain regions, such as the UK and Europe. Clients from other regions, such as Australia, may benefit from cash rebate programs.  

Awards

During their long existence, City Index has received an impressive collection of awards, which are listed below:

  • “Best CFD Provider 2020” and “Best Platform for the Active Trader 2020” awarded by ADVFN International Financial Awards
  • “Best Professional Trader Service 2020” and “Best CFD Provider 2020” awarded by London Trader Show
  • “Best Professional Trading Platform 2019” awarded by Shares Awards
  • “Best Professional Trading Platform 2020”, “Best Spread Betting Provider” 2019, “Best Trading Platform 2019”, “Best Mobile Application 2019” awarded by Online Personal Wealth Awards
  • “Best Trading Account Margin Rates 2019”, “Best Trading Loyalty Program 2019” awarded by Professional Trader Awards
  • “Best in Class” Overall – 2020; “Best in Class” Research – 2020; “Best in Class” Commissions & Fees – 2019 & 2020; “Best in Class” Education – 2019 & 2020 awarded by ForexBrokers.com
City Index - Award-Winning Service - List of Awards Won
City Index – Award-Winning Service

Trading Experience

City Index offers a complete, complex and top trading experience, no matter if you are a new to the markets or a very sophisticated trader. They are a multi award-winning broker, offering a wide range of financial instruments, a very reliable proprietary trading platform, a strong collection of analytical tools and ab extensive Trading Academy.

Is This Broker a Good Option for Me? 

The best response to this question can only be given by yourself. However, it’s worth noting that City Index is a reliable option for all traders of differing experience levels, particularly those that are advanced and sophisticated. City Index offers their clients with a wide collection of financial instruments to trade on and advanced analytics tools.  A beginner trader will find their training resources and the intuitive, user-friendly platform very useful. But on the other hand, they might find the extensive offer of tradable assets quite overwhelming.

Conclusion

Aside from being one of the oldest brokers in the industry, City Index is also one of the top trading providers worldwide. Our City Index broker review states that this is a broker to consider particularly if you want to be trading at a high performance, while trading the financial markets.

Broker Review Category Score
Safety and Regulation 5
Offer of Financial Instruments 5
Differentiation Elements and Unique Features 5
International Presence – Covered Countries 4.7
Account Types 4.5
Spreads, Fees and Commissions 4.5
Deposits and Withdrawals 3.5
Minimum Deposit 4.9
Desktop and Web Trading Platforms 4.7
Mobile Trading Platforms 4.7
Training, Education, Resources and Research 4.8
Customer Support 4.3
Total Score 4.6
2020 City Index Review: 10 Reasons Why You Should Trade with City Index

We've spent more than 13.5 hours reading client and expert reviews to bring to you the most comprehensive City Index guide for 2020. Let us help you decide

Price Currency: GBP

Operating System: Windows 7", "Windows 10", "OSX 10.6", "Android 1.6", "iOS"

Application Category: Trading Platform

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