Disappointingly, login is not protected by two-factor authentication for the UK brokerage, even though the Singapore sister platform supports 2FA. A separate login is used for MT4, which adds an extra layer of protection for account access. Profits must be withdrawn to the original funding source and there is a minimum withdrawal limit of £100. It can take up to five days to withdraw funds to a card, while bank transfers are usually completed within two working days.
City Index Spread Betting Expert Review: Best Spread Betting Broker 2025
Backed by StoneX Group, City Index is a trusted brand known for its versatile city index review trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets. Experienced traders who qualify can have a professional trader account on City Index. This type of account delivers credit facility as well as broker-assisted dealing and a dedicated client relationship manager. These accounts also have margin rates as low as 0.25 percent, but you should keep in mind that professional clients can accumulate losses exceeding deposits. City Index aims to provide traders with tools that are necessary to improve their trading skills. They have a commitment to delivering market-leading services with transparent, fair pricing, plus comprehensive customer support.
TradingView
Overall, we think that City Index is a solid forex broker which offers robust customer support channels, plenty of insightful educational materials, and a wide range of financial markets. City Index makes money through charging commissions (either added to CFD trades or built into the spreads of financial spread bets). Other revenue streams include overnight financing charges, where City Index levies extra interest on top of what it lends you to trade on leverage. Yes, City Index is a good platform for day trading as they have low spreads, access to a wide range of markets and intra-day trading signals provided by SMART Signals. One thing, though that does let them down is City Index’s economic calendar, it’s terrible.
In addition, programmers can utilise the open API to create custom indicators and expert advisors or replicate the positions of top traders through the integrated copy trading facility. The broker and their trading platforms, both proprietary and MT4 are stacked with trading tools, charting capabilities, and features. These spreads start from 0.5 pips on forex, and 1 pip on major indices with the average on the EUR/USD being 0.8 pips and as low as an average of 0.6 pips on the S&P 500 CFD. City Index offers competitive spreads, particularly on major markets like forex and indices.
When I tested City Index’s spread betting account Performance Analytics really made it stand out which is unique to City Index. City Index is an excellent fit for new and mid-level traders seeking excellent research, solid education, reliable customer service, and a broad range of competitively-priced markets. The StoneX connection goes a long way in building trust, while the broker’s history and London location will instill confidence. Full-time and professional traders may be forced to look elsewhere due to uncompetitive volume and margin discounts, and lack of advanced functionality such as connectivity through VPS and API interfaces. Minimum and average spreads are fairly competitive, at 0.70 pips minimum and 0.80 pips typical for the EUR/USD currency pair. Indexes list a 0.40 minimum spread on S&P 500 CFD and spread bets, but the broker does not disclose an average spread.
- The MT4 demo account also comes with 10,000 demo credits, along with access to the forex market.
- Spread betting is City Index’s forte, and it’s the product that a lot of their high-net-worth customers use for trading stocks.
- City Index offers MetaTrader4 and their proprietary City Index Desktop and WebTrader.
- Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Additionally, clients can receive compensation of as much as £85,000 from the Financial Services Compensation Scheme (FSCS) in the unlikely event that liquidation occurs. To help you easily spot the best trading opportunities, the portal lists the best buy opportunities first. There are detailed company metrics, including earnings and revenue history, debt to equity ratios, and earnings per share. Additionally, professional traders with City Index receive loyalty rewards, such as premier hospitality invitations and other rewards. There is extra financial flexibility thanks to the credit facility, and professional traders get priority service. UK and EU residents can open an account with the UK, Australia, or Middle East office.
- For those that like a sleek, trimmed-down interface and lots of easy to use functionality, the City Index Web Trader platform may be the way to go.
- One thing, though that does let them down is City Index’s economic calendar, it’s terrible.
- For UK clients, the FCA regulation also provides negative balance protection, adding an extra layer of security if you’re trading with leverage.
City Index Trading Tools
To this end, City Index provides several avenues for customers to receive help. City Index excels in its equity investing department, with over 4,500 stocks from markets in the US, UK, Europe and Asia. Moreover, several ETFs are offered for speculating on the share prices of a group of companies. City Index is far from a standard forex and CFD broker and surpasses many competitors in its diverse range of financial products.
City Index owner Stonex reports bumper figures that were boosted by CFD and FX trading
Web Trader’s most stand out feature, however, is Trading Central – a research tool that provides extensive scanners capabilities, and also offers AI-based technical and fundamental insights. Trading Central also features Market Buzz, a sentiment engine that scans thousands of news and analysis articles to give traders a clear market pulse on a particular asset. City Index’s parent company is the massive, NASDAQ-traded StoneX Group, Inc. This financial services provider is publicly-traded, so it has to meet high standards of disclosure, reporting, and corporate governance. City Index’s spread start at 0.5 for EUR/USD pairs, and you can trade major indices with spreads starting from 0.3 points. The City Index range of markets includes the ability to trade up to 13,500 global markets, including commodities, forex, share CFDs, indices and more.
To become a premium trader, you must be an active trader who keeps an account balance of at least £10,000. Once you meet these requirements, you can either wait for an invitation or contact City Index to speed up the process. The trading strategy course is divided into three main sections and is intended to accelerate the learning curve of a novice trader.
The list of 73 stocks available to trade in the pre and post-markets includes leading US shares such as Apple, Microsoft and Nvidia. Widely traded names such as the Ark Innovation ETF, Coinbase, Robinhood and Gamestop. Withdrawing money from the platform to your account is superb and no time-wasting.
The help and support FAQs are well-organized, allowing for quick retrieval of needed information. There is no minimum deposit to open a real trading account, although City Index recommends $/£/€100 to get started. Dedicated Spread Betting Platform Unbelievable proprietary platform & application trading experience.
Join the Active Trader Program for monthly cash rebates and personalized support that grows with your account. If you’re interested in exploring the forex market in the UK further, we’ve got you covered with our comprehensive guide to help bring you up to speed and expand your understanding of this market. Customer service at City Index is generally responsive, with support available via chat, phone, and email. With a background in trading and investing that spans over 20 years, Justin co-founded Spread-Bet.co.uk.
Is City Index regulated and legit?
When testing market execution orders, I recorded an average speed of 131ms. This translates to near-instant execution of bets, making the trading conditions excellent for scalping/day trading. I opted for the bank transfer method, which is supposed to take the longest at 3-5 business days. However, I was pleasantly surprised to be able to start trading within just two days.
Special Features
The customer service team were knowledgeable and accurate with their prompt responses, so I didn’t spend much time waiting for a solution. Even though City Index operates as a market maker, it still sources its pricing from top-tier liquidity providers, helping ensure that the prices you receive are competitive and in line with the broader market. As for deposit methods, City Index provides a better selection than most brokers.