City Index Review 5 Key Ratings For 2024

City Index Review 5 Key Ratings For 2024

City Index offers a range of risk management tools to help traders manage their positions effectively. These include stop-loss orders, take-profit orders, and guaranteed stop-loss orders (where available). The guaranteed stop-loss feature ensures that trades will be closed at the specified stop-loss price, even if the market experiences high volatility.

Deposit Options and Fees

The broker offers leverage on CFDs, which can amplify both profits and losses. City Index’s web-based platform offers a simple yet powerful interface that is easy to navigate for both beginners and advanced traders. The platform is fully customizable, allowing traders to set up their workspace according to their preferences. It features advanced charting tools, real-time market data, and a broad range of order types to ensure flexibility in trading. Yes, City Index offers demo accounts so you can learn their systems before risking any real capital.

Market Analysis and Research

City Index is a online trading broker headquartered in UK and provides a variety of instruments for online trading. Since its beginning in 1983 they have emerged as a top-tier player in the field of online trading. City Index includes a highly competitive and full-featured trading website that’s focused on forex, indices, metals, sharesand commodities. When engaging in online trading with platforms such as City Index, it’s crucial to carefully assess City Index as your broker, as this choice can greatly influence your success. Selecting the right broker is vital for your City Index investments to prosper. However, be cautious of bogus and untrustworthy brokers hiding in the shadows, ready to exploit naive traders.

This means you need enough balance in your account across open and closed positions to cover your required margin to hold your position. Overall we found that City Index performed poorly, a lowly 17th of the 20 brokers. To verify our results we did the test again one week later and the results were similar.

• Traders can access tutorials on getting started via the web trader.
• The brokers provide premium client service which rewards customers with advantages.
• CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
• Forex trading involves buying and se­lling currencies in the fore­ign exchange market, whe­re you can profit from fluctuations in exchange rate­s.
• An education section features written how-to-trade tutorials that are organized into eight sections.
• Minimum and average spreads are competitive, at 0.50 pips minimum and 0.69 pips average for EUR/USD.

The Payoneer debit card allows money to be used online or at point-of-sale with the Payoneer debit cards. The company facilitates cross-border transactions in more than 200 countries and territories, as well as more than 150 local currencies. It also offers cross-border wire transfers, online payments and refillable debit cards services. It is especially offered while the market volatility prevents clients from allowing their account go into the red.

US traders welcome at these brokers:

Based on what assets or products on-the-go traders want to keep up with, the mobile menu allows alerts to be managed and customized. Traders should consult the City Index products section of the website for specific leverage allowances for each financial instrument. Each financial instrument also has specific City Index margin requirements that traders must maintain. There is no minimum deposit to open a real trading account, although City Index recommends $/£/€100 to get started.

City Index does not charge withdrawal fees, although third-party payment providers may charge their own fees. The broker aims to make the withdrawal process as seamless as possible, with transparent processing times. City Index charges a deposit fee for transferring money into your trading https://traderoom.info/city-index-forex-broker/ account. Download the City Index MetaTrader 4 Program free of charge from Apple’s App Store. City Index customers have instant access to the Financial markets, with the ability to completely manage a Portfolio on the go. City Index are a trustworthy brokerage that has been trading for over 42 years.

However, average pricing and a limited MetaTrader offering hold City Index back from competing with the best forex brokers. UK-based with over 40 years of experience in financial markets, City Index is part of NASDAQ-listed StoneX Group Inc. The Customer Service team is passionate about providing every customer with an outstanding experience and they will be delighted to know they hit the mark with you. The broker also adheres to the industry-standard security measures, including encryption technologies for data protection, ensuring that client information and transactions are kept private and secure. Any processing fees from your bank will need to be incurred by you. With this digital City Indexdemo account, you can experiment at all, to whatever length you wish.

City Index also features excellent trading conditions which are available to all and not just an elite class of institutional clients. The tight spreads and fast executions are a fantastic advantage for all traders. The technology adopted by City Index is among the highest caliber, ensuring that it is fast, reliable, and efficient. City Index is honest, transparent, and a well-regulated agent by the Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS). Their outstanding variety of resources will be beneficial for most traders. Our full City Index review for beginners covers everything you need to know about trading with City Index.

The program is run by Tony Sycamore from TECHFX TRADERS, who has over 20 years of trading experience. Traders have access in real-time to over 4,600 markets spanning forex, stocks, indices, cryptos, and more. City Index offers a rich educational experience that will satisfy both beginner and intermediate traders and helped the broker win Best in Class honors for Education in our 2024 Annual Awards.

At this point, the broker will automatically exit some trading position till the threshold is no longer crossed. Our team of experts felt the obligation to provide our readers with additional information on the guaranteed stop-loss order. Use the calculator below to compare City Index’s trading costs with competitors such as Pepperstone, Eightcap and CMC Markets, adjusting for trade size, currency pair, and base currency. Our broker reviews are reader supported and we may receive payment when you click on a partner site. For UK clients, City Index is also a member of the FSCS (Financial Services Compensation Scheme), which means that, if the company is liquidated, some clients might be compensated up to £85,000.

Forex Trading

I appreciated the customer care as I rarely have used a live account although I have many years experience of tinkering with a demo account. Also Konrad explained when I asked about how the account handles dividends. It is on-line, these things happen but the kid on the live chat’s approach was, all clients are wrong and stupid. Basically he refused to believe it was a glitch yet it was something that was physically impossible to action at my end. Live chat workers must have a really hard job and I think a little unfair to have to work like that however, this kid was unable to connect with me at all. He said, that is your ‘opinion’ I had to explain, that was not my opinion it was how my account is set up.

When setting up to enter any of these markets there is a choice of accounts with each one designed to support a particular style of trader. Spread betting and CFD trading are available on options with City Index. Options give traders just that—an option—to buy or sell an underlying asset at an agreed-upon price on a certain date. City Index is a brokerage that specializes in CFD trading, spread betting, and Forex trading.