City Index: An Established Broker Worth Considering?

City Index was established in 1983 and is one of the most renowned multi-asset brokerage firms. A NASDAQ-listed financial powerhouse, City Index is known for transparency, regulation, and reliability. This broker operates under the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Monetary Authority of Singapore (MAS), and Cyprus, Canada, the UK, Hong Kong, Japan, Cayman Islands.

Under the watchful eye of these regulatory bodies, City Index maintains the highest operational standards and security measures for traders. In this review, we’ll explore how City Index compares to other major industry brokers to help traders determine if this broker is right for their needs.

City Index Information

Main Regulations: FCA (UK), ASIC (Australia), MAS (Singapore)
Trading Instruments: Forex, CFDs, Financial Spread Betting
Range of Markets: Forex, Shares, Indices, Commodities, Bonds, Options
Trading Platforms: Web Trader, TradingView, MT4, Mobile
Key Features: Over 13,500 markets, extensive education and market analysis

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Pros and Cons

Reviews from the Web

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71% of retail investors lose money when trading CFDs with this provider

Full City Index Review

Notable Benefits

Over 13,500 financial markets to choose from and trade on an innovative trading platform with free analytical and technical indicators. MT4 and TradingView are also available, providing access to all the markets on offer.
Cityindex is one of the oldest and most reputable CFD brokers with a proprietary trading platform to suit anybody’s needs.
Through Trading Central, traders gain access to advanced tools such as Technical Analysis Tools, Market Buzz, and Trade Insights.
Some beginners might find the platform a bit overwhelming because of its wide range of features and flexibility.

What Sets City Index Apart?

City Index is notable for its support service and comprehensive trading service, offering users competitive fees, different account types, multiple trading platforms, and numerous tradable instruments. Here, we’ll take a deeper look at the broker’s offerings:

Trading Platforms

There are three distinct trading platforms available at City Index, each ideal for different types of traders. City Index provides users with advanced technical analysis, algorithmic trading, and a user-friendly interface, ensuring every trader has their needs met:

MetaTrader 4 (MT4): MT4 is one of the most popular trading platforms among forex traders. With a customisable interface, built-in technical indicators, and automated trading capabilities through Expert advisors, it’s no surprise. There is also advanced charting tools, multiple order types, and back-testing functionalities available to users. Traders who rely on automated trading strategies particularly prefer this platform. The platform is also optimised for web and mobile use, allowing traders to access their account from wherever.
City Index WebTrader: This unique web-based trading platform is made for traders seeking a powerful trading experience that’s easy to use and doesn’t require any software downloads. With a customisable workspace, fast execution speed, and integrated research tools, Advantage Web allows integration of Trading Central Insights, affording traders real-time market signals and technical analysis. It also comes with one-click trading and advanced risk management tools, which are perfect for traders seeking a streamlined platform with built-in market analysis.
TradingView: Known for its advanced technical analysis tools and community-driven insights, TradingView is a widely renowned web-based charting platform. Equipped with over 100 built-in indicators, extensive drawing tools, and multiple chart types, TradingView is perfect for traders relying on price action and technical strategies. It also has social trading features allowing traders to share ideas, follow market trends, and engage with other traders in real time.

Traders can choose which platform is best for their needs and experience levels, and enjoy the unique benefits that come with it. City Index provides traders with a professional and reliable trading environment, with MT4 for automated trading, Advantage Web for research integration and simplicity, or TradingView and advanced charting.

Account Types

There are different account types available at City Index, each of which is perfect for different experience levels and trading preferences.

Standard Account: This account is the most popular choice among traders, especially retail traders. Traders get commission-free trading on forex, indices, and commodities, with spreads of 0.5 pips and higher. MetaTrader4, TradingView, and City Index WebTrader platform are all available to traders. Traders are also protected from negative balances, ensuring losses don’t exceed the available funds.
DMA (Direct Market Access) Account: This type of account is perfect for professional and high-volume traders, providing raw spreads with direct access to liquidity providers. This account provides traders with lower spreads than standard accounts, though each trade requires a commission. Traders also get faster order executions, making it perfect for those seeking market-depth visibility and institutional-level pricing.
Professional Account: Only selected traders meeting specific financial criteria can access this account type, with higher leverage (up to 1:400) and lower trading costs. Unfortunately, there is no negative balance protection, so traders have to tread carefully. Before a user can access this account type, they need to prove sufficient trading experience and financial resources.
Demo Account: Traders can practice strategies and risk-free trading with this type of account. Equipped with virtual funds, this account is perfect for beginners looking to learn more about the platform before investing their money. Veteran traders also use this type of account to test new strategies before implementing them.

Range of Trading Instruments

City Index is one of the most diverse brokers in the industry, offering traders more than 13,500 tradable instruments. Some of the asset classes available to traders include:

Forex: There are more than 80 currency pairs to choose from, including major pairs (EUR/USD, GBP/USD, USD/JPY), minor pairs (EUR/GBP, AUD/NZD, CAD/JPY), and exotic pairs (USD/ZAR, EUR/TRY, GBP/MXN). City Index offers tight spreads on forex, with spreads as low as 0.5 pips on major pairs.
Indices: Traders can access global indices, allowing them to speculate on the performance of major stock markets. Indices like FTSE 100, S&P 500, NASDAQ, DAX 40, Nikkei 225, and Hang Seng Index are the most traded. Traders can access index trading with low spreads and no commission fees.
Commodities: There are multiple commodities available to traders, including metals (gold, silver, platinum), energy (crude oil, natural gas), and agricultural products (coffee, wheat, soybeans). There is commission-free commodity trading with adjustable spreads depending on market conditions.
Shares: Traders can buy shares from the global market without having to buy the underlying assets. There are thousands of stocks available from popular exchanges like the NYSE, NASDAQ, the London Stock Exchange, and the ASX. Stock CFD trading is subject to a commission-based pricing model.
Options: Traders looking for advanced risk management strategies can trade options contracts on indices, stocks, and commodities. Traders can hedge positions, generate income, or speculate on volatility with options trading.
Thematic Indices: There is a unique selection of thematic indices, exposing traders to specific industries and market trends as opposed to individual stocks. These indices include technology, energy, healthcare, and emerging markets.

No cryptocurrency trading for UK retail clients – due to FCA regulations, City Index does not offer cryptocurrency trading for retail traders in the UK.

Fees and Spreads

City Index offers competitive pricing, offering low spreads and commission-free trading on many asset classes. Here’s a breakdown of the fee structure:

Forex Trading Costs: Spreads start from 0.5 pips on major pairs such as EUR/USD and GBP/USD. Forex trading is commission-free as the spread covers all fees.
Indices & Commodities: Major indices FTSE 100, S&P 500, and DAX 40 are traded commission-free with spreads as low as 1 point. Commodities, including gold, silver, oil, and agricultural products, also feature competitive spreads without additional commission fees.
Stock CFDs: Stock CFDs have commission-based trading, with fees as low as 0.08% per trade. Different regions have varying commissions with UK and US stocks typically requiring a £10 or $10 minimum commission per trade.
Options Trading Costs: Market volatility, contract size, and market conditions all affect options pricing.
Overnight Financing Fees: Holding a leveraged position overnight, or a swap, attracts an overnight financing fee. The interest rate of the underlying asset and a small broker’s markup determine the overnight fee.
Inactivity Fee: Accounts that have no trading activity in 12 months attract a $15 monthly fee. Provided an account has at least one trade a year, this fee is avoided.

City Index provides clear pricing information and ensures that traders understand the costs before executing trades.

Deposit & Withdrawal Options

There are multiple payment options at City Index to make deposits and withdrawals easier:

Bank Transfers: Large deposits are possible, but processing takes 1–3 business days.
Credit/Debit Cards: Instant deposits via Visa and MasterCard, allowing traders to start trading immediately.
E-Wallets (PayPal, Skrill): Provide fast and secure deposits, with funds available instantly.

City Index doesn’t charge withdrawal or deposit fees, though banks or payment providers may have added charges.

Educational Resources

City Index also excels in trader education, providing structured learning materials for traders at all levels:

Webinars & Trading Courses: Covering technical analysis, risk management, and trading psychology.
Market Analysis & Insights: Daily updates on market trends and price action strategies.
Platform Tutorials: Guides for using MT4, TradingView, and WebTrader efficiently.

City Index is an excellent choice for traders because it offers a well-rounded experience that includes strong customer support, in-depth educational resources, and market analysis tools.

Despite its many great features, City Index has a few flaws. It may have a well-regulated trading environment, a wide range of instruments, and competitive fees, but there are a few things that could use improving. Here is a detailed look at the benefits and drawbacks of City Index, allowing traders to decide if this broker is right for them.

City Index Pros and Cons

Pros

Broad Market Access: City Index is well-known for its wide range of tradable instruments, with 13,500+ markets for traders to choose from. Forex, indices, commodities, shares, options, and thematic indices are all available, showcasing the broker’s versatility.
Multiple Trading Platforms: There are three different platforms available to traders, ensuring newbies and veterans alike have a platform suited to their needs. MT4 is perfect for forex traders and automated strategies, while WebTrader offers a user-friendly, research-integrated experience, and TradingView provides advanced charting tools with community-driven insights.
Strict Regulation and Fund Security: Multiple top-tier regulators are overseeing City Index, including the FCA (UK), ASIC (Australia), MAS (Singapore), and more. Traders are guaranteed a strong financial oversight, investor protection and a strict adherence to industry policies. There is also added security by holding client funds in segregated accounts.
Competitive Spreads and Transparent Fees: Traders can access Forex spreads from 0.5 pips on major pairs like EUR/USD, while indices like FTSE 100 and S&P 500 are traded commission-free with tight spreads. City Index is perfect for traders seeking a cost-effective broker, with Stock CFD commissions as low as 0.08% per trade.
Advanced Research and Market Insights: Traders can access real-time trading signals, technical analysis, and expert market research thanks to the integration of Trading Central and Market 360. Additionally, traders can access market insights, price action strategies and economic reports, allowing them to monitor the latest trends.
Well-Developed Educational Resources: There are trading courses, live webinars, and platform tutorials, allowing newbies and experts to learn to use this broker. City Index allows traders to improve technical analysis and refine trade strategies with educational tools.
Flexible Deposit and Withdrawal Options: Traders can access multiple payment methods, such as bank transfers, credit/debit cards, and e-wallets like PayPal and Skrill. The broker processes deposits instantly, while withdrawals are processed in under a day.

Cons

No Support for MetaTrader 5 (MT5): While MT5 is considered superior and more advanced than MT4, it isn’t supported by the broker. The absence of the additional order types, advanced trading features, and broader range of absence is something some traders don’t like.
No Social or Copy Trading Features: City Index doesn’t offer built-in copy trading, despite the popularity of this function. Traders who want to copy other professionals’ strategies will have to seek alternative options.
Limited Micro Lot Trading: Micro lot (0.01 lot) isn’t available for all markets, despite City Index supporting flexible position sizing. New traders seeking to trade with minimal risk may not have that option.
Inactivity Fee: There is a monthly inactivity fee of $15 for any accounts with no trades for 12 months. The practice can sometimes be annoying, even though it’s popular in the industry.
No Cryptocurrency Trading for UK Retail Clients: In compliance with the FCA regulations, UK retail traders can’t trade cryptocurrency on City Index. Those seeking Bitcoin, Ethereum, and other crypto assets have to seek a different channel.

City Index Reviews from the Internet

City Index has received mixed reviews on Trustpilot, with many users praising its responsive customer service and efficient issue resolution, while others express frustration over login difficulties, particularly related to Cloudflare verification. Some traders appreciate the platform’s functionality and overall reliability, but concerns have been raised about deposit policies, as City Index only accepts funds from traditional bank accounts, which some find restrictive. Overall, opinions vary, with some highlighting a smooth trading experience and helpful support, while others report obstacles in accessing their accounts and funding their trades.

UK FCA Broker selection (XTB, City Index ect) (BabyPips): “I tried city index few years ago. No problem with depositing or withdrawing money but I didnt like their platform so left them. Very easy to set up and close. Customer service was good too. At the time i checked they were fca regulated for trading. You’d have to check it again.”

Barclays/CityIndex Stockbrokers for CFDs? (MoneySavingExpert): “City Index have been going for years and are reputable. They must be one of the most well known CFD / spreadbet firms in the UK. After all, if Barclays are using them as their CFD provider of choice, they’re unlikely to be some fly-by-night shysters.”

You can always find more feedback on most popular forex forums and trading communities.

City Index FAQs

Why trade with City Index?

There are 13,500+ financial instruments to choose from at City Index, including forex, stocks, indices, and commodities. With competitive pricing, multiple trading platforms, and integrated research tools such as Trading Central, there’s a lot for traders to love. There are also tutorials on using the platform available to traders, making it ideal for newbies and veterans alike.

Is City Index trustworthy?

City Index is regulated by the FCA in the UK, ASIC in Australia, and MAS in Singapore, making it one of the most secure brokers. Further adding to its credibility, City Index is owned by StoneX Group, a publicly traded financial services firm listed on NASDAQ. Furthermore, the broker achieves an added layer of security by holding client funds in segregated accounts.

How does City Index make money?

Overnight financing fees, commissions, and spreads are the primary channels through which City Index makes money. While Forex, indices, and commodities are traded commission-free, spreads are built into the trades, and options and stock CFDs have commission-based pricing. For overnight leverage by traders, there is a swap fee that is determined by the underlying asset’s interest rate. There is also a monthly inactivity fee of $15 for accounts with no trades in 12 months.

Who regulates City Index?

The Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Monetary Authority of Singapore (MAS), and the Dubai Financial Services Authority (DFSA) are among the most notable authorities that regulate City Index. The broker’s operations are strictly monitored, ensuring compliance with approved regulations, funds protection, and trading transparency, affording traders peace of mind.

What is the minimum stake size at City Index?

The asset class in question determines the minimum stake size. Traders can place trades as small as 0.01 lots (micro lots) when dealing with MT4. When dealing with Indices, commodities, and stock CFDs, the instrument being traded determines the minimum stake. City Index lists all precise details relating to stakes on their website, allowing traders to verify before moving forward.

What is the minimum deposit for City Index?

There is no minimum deposit at City Index, and traders can start with whatever amount they want. Minimum limits may apply when dealing with certain account types, like DMA (Direct Market Access) accounts, which require a higher minimum balance for premium pricing and lower spreads. Payment options for deposits include bank transfers, credit and debit cards, or e-wallets such as PayPal and Skrill.

Who can trade with City Index?

City Index operates in some of the largest trading markets like the UK, Australia, Singapore, UAE, and South Africa. Only users from countries where leveraged trading is restricted can’t access the broker. The rules and restrictions for City Index vary according to the country in question, though all traders need to be 18 years old and comply with local laws.

What trading platforms does City Index have?

There are three trading platforms available at City Index, each meeting different needs. For Forex traders seeking automated trading and advanced charting, MetaTrader 4 is the perfect choice. For a built-in market analysis and fast execution, traders are better off with the WebTrader platform. Trading View is best for its extensive technical analysis tools and a trader community for market insights.

City Index – The Verdict

With competitive pricing, multiple trading platforms, and a diverse range of trading markets, City Index is one of the most reputable brokers. This broker is perfect for new and experienced traders alike, with high-quality research tools, advanced charting platforms, and educational resources. Regulated by FCA, ASIC, and MAS, City Index also offers a broad market selection, including Forex, indices, stocks, commodities, and options. Despite all its great features, the absence of MetaTrader 5 (MT5), copy trading features, and cryptocurrency trading for UK retail clients remains a stumbling block for many traders.

Overall, City Index is a solid option for traders looking for a well-established broker with strong research tools and a wide range of markets. While it may not be the best fit for those seeking social trading or crypto exposure, it remains a reliable choice for traders who value regulation, research, and platform flexibility.