City Index Review 2024 Is City Index UK a good broker?

The AT Pro platform includes advanced technical analysis with more than 100 indicators, detachable charts, and strong customization. In-platform access to dozens of trading ideas round out an impressive list of advanced features. Both brokers segregate client deposits from corporate funds and offer negative balance protection. UK-based traders, and select Plus500 jurisdictions, have an investor compensation fund. City Index owner StoneX is a publicly listed US company which has incurred regulatory fines.

A notable feature of City Index’s trading platform is the provision of API support, facilitating algorithmic trading primarily targeted at institutional traders. This API allows for the development, testing, and deployment of complex trading strategies, all of which can be automated for efficiency. Through API integration, sophisticated investors can harness the power of algorithmic trading to execute precise and timely trades, thereby optimizing their trading strategies. When it comes to fees, City Index is competitive, especially for Forex trading. The spreads are tight, and there are no commissions on Forex trades, which is a big plus for traders looking to minimize costs. The spreads on major currency pairs like EUR/USD can be as low as 0.5 pips, which is quite reasonable.

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1. Other staff just tell me my account is restricted.but they did not solve my problem.
2. There are also minimum withdrawals that depend on how you choose to get your money out.
3. CityIndex is a part of the StoneX Financial global brokerage group, with local offices in many countries including; Australia, the United Arab Emirates, and Singapore.
4. City Index does not offer cryptocurrencies but maintains an overall well-balanced list of trading instruments, including 4,500+ equity CFDs and 84 currency pairs, part of 12,000+ assets.
5. Traders from Singapore can trade through a CFD and forex broker such as City Index.
6. So while the Dow was lower for a fourth day, 2 out of 3 indices rising could help support the ASX today.
7. Information on fee schedules was conflicting, and it was hard to find cost comparisons.

This means that City Index takes the opposite side of your trade, when you buy, City Index sells to you and when you sell, they buy from you. Another provision made for improved pricing execution is what City Index calls aggregation of client orders. Under this provision, your orders can be aggregated with other clients’ transactions in City Index’s account. This is done only if there won’t be a disadvantage to you and the other clients. But if you are withdrawing online without credit cards, the minimum withdrawal is £20,000 in a single transaction. This means you can carry out multiple transactions but you cannot exceed the £20,000 limit per transaction.

You can fund your account via bank transfer, PayPal, and credit/debit card. We earn commissions from some affiliate partners at no extra cost to users (partners are listed on our ‘About Us’ page in the ‘Partners’ section). Despite these affiliations, our content remains unbiased and independent. We generate revenue through banner advertising and affiliate partnerships, which do not influence our impartial reviews or content integrity.

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1. Its transparent pricing and the availability of a demo account make it a good alternative for traders looking for flexibility and a diverse selection of chances.
2. City Index stores retail clients’ money in segregated bank accounts from the company’s funds.
3. All clients are protected by the Financial Services Compensation Scheme.
4. These analysts utilize sophisticated tools from Trading Central, a renowned market research provider, to offer deep analytical insights.
5. Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want.
6. We use dedicated people and clever technology to safeguard our platform.
7. In this article, I’ll share my personal experience using City Index, covering everything from its trading platform and fees to customer service and regulatory status.

Established in 1983, City Index has earned a reputation for reliability and innovation in the financial markets. As a subsidiary of StoneX Group Inc., it offers services tailored to a diverse clientele, ranging from novice traders to experienced professionals. Customer service is a critical aspect of any trading platform, and City Index doesn’t disappoint. I’ve had to contact their customer support team a few times, and each experience has been positive. The support team is available 24/5, which covers all major trading hours. Whether you prefer phone, email, or live chat, City Index offers all these options.

For the most accurate and up-to-date information on available payment methods and their specific terms, please refer to the official City Index website or contact their customer support. As for withdrawals, I found the process to be quick and hassle-free. The minimum withdrawal amount is £50, and there are no withdrawal fees, which is a significant advantage. If you’re withdrawing via bank transfer, the funds typically arrive within 1-2 business days.

Instruments Traded

The cryptocurrency market in the City Index is also widely represented and includes Bitcoin, Etherum, Bitcoin Cash, Litecoin, and Ripple. They operate on multiple platforms and devices and are a well-established, regulated firm. These are indicators of a trustworthy broker, but the broker’s suitability depends on the individual trader’s needs.

Other brokers like Plus 500 and eToro allow unlimited use of their demo platforms and a link to the live platform. The MT4 demo account also comes with 10,000 demo credits, along with access to the forex market. The company does not charge commissions on spread betting or on any CFDs other than Stock CFDs. City Index also has a dedicated website meant for traders from Singapore, which makes it much easier for traders to understand the services offered in Singapore. The City Index DMA Account is designed for clients who trade large volumes of instruments and requires a minimum deposit of S$25,000.

Deposit and withdrawal methods

You will also choose your means of communication (email, SMS, phone call, or mail). Finally, you agree to the terms and conditions and click on ‘submit application’. It will take about 30 seconds for your application to be approved. Both brokers maintain a moderately more expensive pricing environment while offering guaranteed stop-loss orders.

This makes City Index a low-risk broker for traders from Singapore due to legal accountability and oversight. 3) Corporate Account – The Corporate Account is https://traderoom.info/city-index-forex-broker/ meant for corporations, as the name suggests. You can add multiple users to the same trading account for collaborative trading.

Other asset categories include bonds, interest rates, and options. City Index offers guaranteed stop-loss protection for a premium as well as a sophisticated set of conditional orders within their trading platforms. Oddly, the firm’s small Singapore branch utilizes two-factor authentication for added security, but this useful feature wasn’t found at the U.K. The broker acts primarily as a market maker, like most European CFD brokers, raising conflict of interest issues. However, they offer central clearing on “certain markets” as a free service that requires an additional client application. City Index is a trading platform that has been operating for 38 years, has a global presence supported by its listed parent company, and is overseen by top financial regulatory bodies.

And despite its mother company’s industry tenure, City Index is not absolved from criticism. Most of the point thrown against the firm pertains to its conflicting disclosures of options fees, absence of volume discounts, and the lack of secondary insurance coverage. These, as other online reviews had taken note of, had been observed by the review team. However, these should be, by no means, the only assessment points to be made basis of one’s decision to either enlist the brokerage’s services or not. Gain Capital was founded back in 1983 and had offered a number of platform choices, research facilities, and a product catalogue. City Index offers Spread Betting as well as CFD accounts, while Forex trading on the MT4 platform is singled out as a separate account option.