Trading Central is a third-party tool available to all City Index users with standard live accounts. It’s a professional technical analysis tool, one of the most advanced in the industry, which provides traders with comprehensive and accurate trading information. Essentially, Trading Central will prove itself useful if you lack technical trading knowledge. Investor accounts lose money when there is no adequate customer service and support to back traders.
- Developed by trading software company MetaQuotes, MT4 is perhaps the most widely used trading platform and considered by many as the most user friendly.
- It was hard to navigate on the platform and it felt too crammed with functions.
- The broker acts primarily as a market maker, like most European CFD brokers, raising conflict of interest issues.
- If that is out of your range, Trade Nation have a minimum $1 deposit requirement.
City Index’s desktop platform has the same functions as the web trading platform but lags behind in user-friendliness. A bank transfer can take several business days, while payment with a credit/debit card is instant. You can only deposit money from accounts that are in your name. City Index provides multiple deposit and withdrawal options, all free of charge.
Professional Trader 💰
Of course, trading fees vary on spreads, and they aren’t always as low as 0.5 pips. The exact fee will also vary depending on your trading platform (I’ll talk about it later). However, as said, Forex fees are typically low at City Index. When browsing through popular online trading platforms in the UK, the name City Index has likely popped up more than once.
With a minimum spread of 0.5 pips and no commission on spread betting guaranteed by City Index, your estimated trading fee would be $5. In general, I find CFD trading more suitable for more experienced traders, as it very much resembles traditional trading. Spread betting could be better for beginners as it’s slightly less complicated. Among many, City Index is licensed by the Financial Conduct Authority .
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I worked with James Internicola to setup my Forex.com account. I had a lot of problems with setting up the correct account type, but James walked me through each and every problem I encountered. I worked with James Internicola to… set up a MetaTrader4 Corporate account and fund the account.
Trading Platforms 💻
City Index has its own trading platform called Web Trader but also offers trading via their mobile app, TradingView and MT4. Another acquisition from parent StoneX is Chasing Returns, now integrated into the platform as Performance Analytics. Which really drills down into where you are trading well and where you are losing money. One example of how they are populating their platform with new trader tools is SMART Signals.
- The downloadable desktop platforms available to use with City Index are AT Pro and the hugely popular MetaTrader 4 .
- A leverage is also applicable in that you get a loan to maximize on a given outcome.
- The City Index educational section of their website hosts a strong range of content to keep you developing as a trader.
CFD trading is available in all subsidiaries, while the UK office is special in that it offers spread betting. Australian and Singaporean offices only offer Trader and Premium Trader accounts, while the UK and Middle East offices also offer Professional Trader Accounts. Different subsidiaries are also regulated by different agencies; UK and Middle East operate under FCA rules, Australia under ASIC, and Singapore under MAS. As for complaints, Only Singapore has its customers file them through FIDReC while the other three use FOS for this purpose. Singapore subsidiary also won’t provide services to UK and EU residents.
Trade FX, Gold & Oil, Shares
City Index became a trading name for GAIN Capital, which as of Q2 2020, caters to over 250,000 traders globally and holds $3.9 billion in customer equity. However, read the below content to get an honest City Index review with its features, services, customer support, fee section, and more. Traders can open a free demo account and use a virtual 10,000 GBP for practice. This is great but please be careful if you open a live account and invest real money.
It has a quick learning curve making it an attractive proposition to new traders whilst having enough advanced functionality for the more seasoned trader. City Index provide you with fast, flexible, reliable, award-winning trading platforms and technology across multiple devices, including desktop, web and mobile. There is a trading platform for all styles and experience levels of traders. With other fees at the broker, deposits and withdrawals are generally maintained as fee-free as possible.
We do not present any investment advice or guarantees for the accuracy and reliability of the information. Also bear in mind the overnight fee, which is charged if you hold a position open longer than a day, financing rates are set at a benchmark regional interest rate of +/- 2.5%. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. Other websites of this company include cityindex.com, cityindex.eu, cityindex.com.au, and cityindexasia.com.sg. Resolver gathers all risk data and analyzes it in context – revealing the true business impact within every risk.
In a nutshell, City Index platform caters to all sections of trading and traders with an account, regardless of the experience level. You will get daily updates on market outlooks and forecasts through webinars, tag-based news pages, and other critical reports. CFDs – The average spread against money when trading CFDs on the EUR/USD was 1.1 pips as of August 2020. As a Forex provider, you should consider the City Index as this amount is certainly better than brokers in this category. Close Out Level – When your funds fall below 50% of margin requirements, or there is a high risk of losing money, City Index automatically closes out trades. This is to prevent negative balances and should not be regarded as a stop loss.
You have to type ‚agent‘, after which the chatbot offers to connect you with a sales or support agent. We liked the ‚Platform tips‘ option on the menu, which provides a demo of the mobile platform’s functions. Another great feature is the embedded economic calendar, which has advanced filter options and can be customized on a high level. The City Index mobile trading platform isuser-friendly and well-designed. You can use City Index’s own or the MetaTrader 4 mobile trading platform. In this review, we tested City Index’s own mobile trading platform.
Minimum Initial Deposit
Their https://traderoom.info/ of CFDs is somewhat limited so that can be considered a drawback. City Index’s trading platforms are versatile and well-made, but advanced traders will find better trading platforms. All in all, they can improve in a few areas but it’s still an overall great broker with no significant drawbacks. The demo account allows users to simulate trades on the platform without the risk of losing any funds. There are two types of demo accounts, both of which can be used for up to 12 weeks. City Index mobile versions for iOS and Android allow easy synching between platforms, with well-organized menus but fewer features and limited customization.
It has several annoying city index reviews that did disrupt my trading experience. Once done with that, I’ll share my personal experience using the City Index platform and answer several frequently asked questions about the platform. Yes, based on our data matrix, testing, analysis and the fact they are regulated by the FCA City Index is a good broker. Your funds are also protected under the FSCS with City Index.
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Advantage Web consists of an easy to use, customizable web-based trading platform that features over 80 technical indicators and 12 different chart types. The platform includes a research portal that evaluates the market with both technical and fundamental analysis. NinjaTrader LLC has added two new forex brokerage service providers, OANDA and City Index, and gave the opportunity for its forex trading clients to diversify their investments. These two forex brokerages are now available on the NinjaTrader platform. Is a software development company which owns and supports all related technology, including the NinjaTrader… City Index offer mobile trading apps for iOS and Android so that you can access your account wherever you are in the world at any time, from your smartphone or tablet.
Overall, City Index offers an excellent trading experience, backed by many years operating in the industry. City Index offers a wide variety of trading platforms, including robust mobile applications on iOS and Android for on-the-go traders. City Index is a derivative brokerage firm that offers customers a platform for spread betting and trading forex and Contracts for Difference . CFDs allow traders to speculate on asset prices without owning them.