Traders can use an abundance of high-quality charting tools and around 80 indicators. City Index also offers trading ideas that are based on technical tools. The City Index minimum deposit is £100 for all countries, and there is a monthly inactivity fee of £12 for accounts that have been idle for a year or more. City Index is also among the most popular online forex brokers in India where they are well-known for their great all-around offer, as well as their trustworthiness.

• For more information on the City Index trading hours, look-up the broker’s website.
• The City Index API appears restricted to institutional and white-label partnerships, lowering the value of the AT Pro backtesting and automated trading capacities.
• Before City Index log in, know the overall details of where City Index stands across multiple sections.
• The above markets include City Index’s DFT (daily-traded funds) markets.
• The app features the live Reuters news feed, an economic calendar, live streaming of charts and prices, and secure 24-hour access.

These potential opportunities will be ready to trade on a number of short timeframes from 4-12 hours and you can also utilize the suggested order details. Though many areas are automated, the position can only be closed by you. This feature is also available on mobile under the “more” tab, and as yet is not accessible for UAE clients. The platform also offers an extremely customizable trading experience, and some of the most intelligent trading tools you will find. The spread here remains tight and starts from only 0.5 pips with the average spreads being 0.8 pips on the EUR/USD, 0.9 pips on the AUD/USD, 0.8 pips on the USD/JPY, and 1.8 pips on the GBP/USD.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee.

Forbidden trading techniques

While the mobile app and responsive trader are not inclusive of all desktop features, most are available and built-in. 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. The MT4 demo account also comes with 10,000 demo credits, along with access to the forex market.

We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. Our research team conducts thorough testing on a wide range of features, city index review products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. The City Index mobile app design has a clean interface and competes effortlessly with the leaders in the field, such as IG, CMC Markets, and Saxo Bank.

With a wide range of tradable assets, City Index allows its clients to trade across more than 4500 financial instruments. However, the variety of assets could vary from country to country owing to the different jurisdictional regulatory requirements. City Index UK offers tax-efficient spread betting opportunities in addition to offering trading services in forex, indices, shares, and commodities. Other products include cryptocurrency coverage across five major markets, forward contracts, and options trading. Due to varying product ranges, It is always better for clients to learn about the availability of specific instruments from the broker before the sign up.

City Index offers MetaTrader4 and their proprietary City Index Desktop and WebTrader. However, an overseas bank account will require an international bank transfer which may take longer with an extended transfer period. In addition, the Markets in Financial Directive (MiFID) allows the company to operate as a regulated entity throughout the European Union. One-click trading on mobile can also be enabled in a single tap via the top menu. The one-tap trading functionality works on portable screens, too. For compliance purposes, City Index must transfer your funds back to the original source you used to fund your account.

Closing an account with City Index is straightforward but must be done in writing by post to

Park House, 16 Finsbury Circus, London, EC2M 7EB. Any open trades will mean the account remains active until they are closed, filled or cancelled. Not only is the package comprehensive, but it is also very well laid out and exceptionally easy to navigate. It is, for example, possible to seamlessly move from a complex charting analysis through to managing risk parameters applying across an account. One of our traders reported experiencing the ‘white screen of death’ when none of the tabs worked.

City Index customer support and service

A technical analysis portal is also powered by Trading Central, which scans the market for trading opportunities. You can use them to create an order, make a personalized watchlist and analyze markets through a chart. Your position can be displayed on a chart, which can also display your orders and stop loss.

MT4 is available for City Index traders – albeit with fewer markets to trade – and MT5 is expected to be available at City Index by mid-2022 (along with cash-equities in the U.K.). Until then, with the discontinuation of AT Pro desktop, algorithmic trading is limited to MetaTrader, which remains the most popular platform globally for automated trading. Pricing at City Index for trading CFDs, forex, and spread-betting products is in line with the industry average. For the best pricing, use City Index’s proprietary platforms or MetaTrader. In a nutshell, City Index platform caters to all sections of trading and traders with an account, regardless of the experience level. If you consider whether to opt for the City Index trading platforms, here are a few pointers to help make up your mind.

City Index is fully regulated by three tier-1 regulators (highest trust score in the industry). Web Trader, based on HTML5 technology, allows you to configure and personalize multiple workspaces. It’s possible to trade through charts and you can overlay multiple markets in a single chart. Web Trader supports custom indicators, a Reuters news feed and market analysis. It has a real-time margin calculator and it allows you to define stops and limits by points, profit or price. The broker offers fixed spreads for many indexes and commodities and variable spreads for forex and other markets, but read the fine print because this categorization isn’t intuitive.

Who CityIndex Markets is for?

Fee and spread disclosures provide extensive transparency, but it was difficult to find options costs. Information on fee schedules was conflicting, and it was hard to find cost comparisons. They offer fixed and/or variable spreads, depending on venue, but the disclosures would greatly benefit from side-by-side cost itemization.

• In the sections below, you will find the most relevant fees of City Index for each asset class.
• Social Trading is not supported, but account-holders can engage in Copy trading via the MT4 platform.
• However, the exact terms for getting this invitation are unclear.

Opening an account at City Index is simple as deposits and withdrawals can be made using debit card, credit card or bank transfer with no charges being applied by City Index. There’s an electronic guided tour which walks you through the process step by step. The fundamental analysis portal considers the complex inter-relationships of financial statements, earnings, growth and other data. Clients with a preference for this approach can use the ‘Trading Central fundamental analysis portal’ to make a judgement on whether an asset is under or over-valued. One comment made was that the charts could quickly feel cluttered, if, for example, several instruments were compared at once. This won’t be an issue for most and during out testing having such user-friendly graphics was an acceptable trade-off for razor-sharp accuracy.

City Index withdrawal fees and options

The range of markets and instruments available to trade is hard to beat and a very nice-to-have for UK domiciled traders is the option to trade using spread bets as well as CFDs. Individual circumstances would need to be considered but for many https://traderoom.info/ trading using spread bests is more tax efficient. 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.

We ranked City Index’s fee levels as low, average or high based on how they compare to those of all reviewed brokers. City Index offers a rich educational experience that will satisfy both beginner and intermediate traders. Its YouTube channel has a robust archive of educational videos, but City Index offers fewer written articles than leaders in this category. MSCI is revising the amount of shares considered freely tradable in the public market for the two companies, with the results to be announced later this week. It’s likely that the two companies will fail to meet the minimum threshold after the review, according to Brian Freitas, an analyst with independent research platform Smartkarma. The optimized backtesting and coded automated trading have a power that is not frequently seen at European brokerages.

Then the Trading Central research tool, which is included as part of the mobile package takes research to another level. It allows for trader led analysis and also has a section where the sites own analysts share their in-house ideas on current trading strategies. The Trading Central research covers topics ranging from general market trends down to individual stock picks. The millions of hours of use have allowed the broker to develop a platform which meets the needs of their clients.

Another excellent account type choice at the broker is their FX on MT4 Account. This account type is focused on forex trading as in the name and is built to work solely with the MT4 trading platform. This ultimately makes it a very accessible account type and with excellent value spreads that stay tight and start from 0.5 pips on forex or 1 pip on major indices. The average spread on the EUR/USD with this account type is 0.8 pips and no commissions are charged with the exception of shares. The firm demonstrates an understanding of trading and what traders need.

Since its creation, the mission of the company has been to offer traders low-cost access to forex trading. Over the years, the company has expanded and has offices worldwide. Trading at City Index here is what you can expect from the trading platforms and all of the features they have to offer. The same leverage limits apply to professional traders even if you are using the professional account type. City Index also offers an excellent range of base currencies you can trade in. This can really help you save money by avoiding any conversion fees.

City Index is part of StoneX Group, a NASDAQ-listed, Fortune 100 company with $10.9 billion in assets. City Index makes multiple Deposit options available including Debit/Credit Cards, PayPal, and Bank Transfers. City Index Withdrawal will be processed between 1 and 5 working days, depending on the method of withdrawal selected. You’ll have to pay financing costs on leveraged positions held overnight.

In order to reach a human representative through live chat, you must write the word “agent”. The FAQ section on their site is well-designed and comprehensive, which means you can get helpful information quickly, without digging through the entire web page. There’s a live chat feature on City Index’s website that will bring you to a chatbot (which is actually more helpful and knowledgeable than most chatbots).

Before going live, each article is thoroughly reviewed and fact checked by a qualified member of the editorial team. ForexToStocks is committed to delivering content that adheres to the highest editorial standards in terms of accuracy, sourcing and objective analysis. Going back a year, the OPWA Awards in 2018 honoured the broker with the title of “Best Cryptocurrency Trading Platform,” an accolade worth mentioning in any City Index review. Using the City Index website is relatively straightforward, whether on desktop or mobile.