City Index
2/10 (votes 100)
| On-line since | 2001 |
| Country of origin | UK |
| Regulation | FSA |
| Payment options | bank transfers, debit cards |
| Minimum account size | - |
| Minimum lot size | 0,01 |
| Leverage | 1:400 |
| Spreads | 0.5 pips on EURUSD |
The broker was established in the UK. However, its headquarters are in the US. The company has branches in London, Sydney, Dubai, Hong Kong, Shanghai, Tokyo, and Singapore. The City Index's website is in English only. Its clients are primarily from the UK and the US.
The broker positions itself as a large FX and CFD provider. Its clients can also trade cryptocurrencies.
Trading instruments and platforms
City Index offers its clients to trade around 84 currency pairs and above 4,500 shares, including indices and digital currencies such as Bitcoin, Ethereum, Bitcoin Cash, Lightcoin, and Ripple.
City Index recommends its clients trading on the Advantage Web platform. This is a browser system with a great number of settings and advantages:
- HTML 5 advanced graphics
- technical and fundamental analysis portal
- fully customized screen layouts
- Advantage apps are available for smartphones and tablets on iOS and Android
- Reuters news feed and an economic calendar
AT Pro and MetaTrader4 are also available for download. Both platforms have a good speed of information processing and capabilities of automated trading.
Analytics, training
The company provides comprehensive market analysis. It releases reviews on the market developments on a regular basis. As for education, City Index does not offer its clients any training courses. However, there is a general introductory section where beginners can find valuable information.
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I have been trading at City Index for two years and a half now. The trading experience is pleasant. Throughout the years that I have made my trading activities with them, I don't remember being troubled with anything huge. I have never encountered a very big issue that it has affected my trades. Also, although I withdraw my profit rarely, I can say that their transaction system is efficient. My fund is always transferred to me withing the estimated time of arrival.
I have been trading CFDs on FX, Stocks, Commodities and Indices with City Index for 2 years now. I have always found their customer support be helpful. Even when office hours are closed here in Australia, the lines divert to the UK and they are great to deal with. The spreads are great, usually only 1pip on the FX majors but do go to 2-3pips when market is volitile. Their ticket system is easy to use and fairly responsive. I have had troubles logging in from time to time, but not often. The ticket system have a little bit of delay sometimes due to high volume or volitility was may take 10-15 seconds to execute, but it usually only takes 2-3 seconds to execute normally. Their charts could do with more few more features though. It has the basic line study stuff like, vertical, horizontal or angled lines and Fib retracement tool, but that's it. But for me, the basics is what is successful. I have returned 840% net profit on my account last financial year end 09/10. I'm happy with that for a second year trader.
got charged an unreasonable $25 inactivity fee - absolutely outrageous behaviour, very shonky. Do not trust them
I placed a position with City Index in 1 hour it showed a profit $6250 then started to go down so I took a profit $$5250-5150 /- the position closed the next day on my statement said this never happened it closed out and I lost 250 /- could not belevie it!!! anyone eles had problems like this?
I had a month to join City Index, I was interested in their program for the traders who are still newbie. City Index offers Free Trading Alert by Text to their traders during the first three months of joining. But until now after one month I joined, I ever get that trading alert on my gadget, I did not receive any message or report from CIty Index. I've contacted their customer support and he said they'll fix it soon, I hope my problem can be settled quickly.
City Index is a real robber! Last week, they opened trade for me with $790 loss. This morning, I traded on news, I closed a position with about $2400 profit. However, I realize that they closed at same price at which was open ($0 profit). During NFP, I had a profit of $4345.05, but I just realised an hour later that they took my profit . Therefore, I asked them about this problem and they gave me the answer that impropers trading profit. In addition, they deactivated my account. They also deactivated another account which I did not use for a long time!
Support of this broker is ok, but I don't recommend this broker, because It has very very high and variably spreads.
Most of their services are not good for me because the trading conditions are vague. All the information written on the agreement are not properly explained.
They do not have the best trading Interest rates. Every year I always charged more than 10% of my deposits. When it comes to execution, this broker is the best as they have an instant execution except busy trading hours. If you want to minimize losses, place an order during non-peak hours and avoid news trading because the spreads of most major pairs are costly.
You will regret it like me. I found it difficult to contact customer support. they are not professional. they can not provide good facilities. I was disappointed with all that is given by this broker. was incompatible. I'm sure all the traders also regret joining this broker. there would be no benefit to be gained once you join this broker.
