Established in the UK in 1983, City Index has since become one of the world leaders in spread betting, FX and CFD Trading. City Index traders today have access to more than 12,000 global markets, across forex, indices, shares and commodities.
The City Index trading platform offers a range of customisation options, including 16 chart types with 65+ indicators designed to traders perform technical analysis. The platform’s research portal highlights trade ideas using fundamental and technical analysis, while traders can follow the markets on City Index’s native apps built specifically for smartphones and tablets.
City Index is authorised and regulated by the Financial Conduct Authority (FCA) and holds client funds in accordance with their client money rules. Retail clients’ money is also fully segregated from City Index’s own funds in separate accounts, while in the event of liquidation, clients may be compensated up to £85,000 by the Financial Services Compensation (FSCS).
To open a live account, you’ll need a minimum deposit of at least £25. Alternatively, City Index offers a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by the Financial Conduct Authority, UK (FRN: 113942), and ASIC (AFSL #345646). City Index puts all client funds in a segregated bank account and uses tier-1 banks for this. City Index has been established since 1983, and have a head office in UK.
Commissions & Fees
City Index offers competitive spreads on Forex, CFDs, and spread-betting products. While average spreads are higher on MT4 than its proprietary platforms, in our testing, City Index finished Best in Class (top 7) overall for cost. Both fixed and variable (floating) spreads pricing options are available.
Advanced Trader: With average typical spreads on the EUR/USD of 0.8 pips (as of October 2019), the all-in cost for all traders is comparable to the default pricing at pricing leaders such as CMC Markets.
MetaTrader: Spreads on City Index’s MT4 platforms are considerably higher, with average spreads of 1.7 pips on the EUR/USD over the same period. Also, price tolerance settings are not available on MT4, whereas they are available with City Index’s proprietary trading platforms.
Platforms & Tools
City Index offers MetaTrader 4 (MT4) alongside two proprietary platform suites: AT Pro (desktop-based) and Web Trader (web-based). All in all, City Index delivers a quality forex and CFDs trading experience.
As its name implies, AT Pro is not for beginners but is better suited to professionals or experienced traders because it is complex and has several advanced functions. AT Pro offers robust charting (139 indicators, 25 drawing tools) and a Development Studio with automated trading functions, including the ability to backtest potential strategies using historical data. Over 100 strategies come pre-loaded.
Web Trader is built entirely on HTML5, making it flexible, fast, and easy to use. While Web Trader contains almost half as many indicators as the AT Pro desktop software, it has a definite place in the City Index platform lineup for casual traders.
Overall, City Index delivers high-quality market research that scores well above the industry standard. Highlights include Trading Central, news headlines from Thomson Reuters, an economic calendar powered by FXStreet, and AutoChartist for MetaTrader.
The City Index mobile app is not industry-leading but is competitive with most other multi-asset brokers such as IG, CMC Markets, and Saxo Bank. The app is cleanly designed and bug-free, making for a smooth experience whether you are adding alerts, depositing money into your account, reading news, or placing trades.
Mobile tools: Charts are powered by Trading View charts and comes loaded with 74 indicators available for charting, and you can carry out fundamental technical analysis with trend lines. Trading Central is also well-integrated into the City Index mobile app, with several modules available, including the Technical Insights, Featured Ideas, and Analyst Views sections.