City Index is a reliable brand that is recognized for its flexible trading platforms, outstanding mobile app, broad market research, and extensive selection of tradeable markets. This brand is backed by StoneX Group, which is an industry leader.
City Index Review: CityIndex.Co.Uk, a Trusted Brokerage
After being acquired by GAIN Capital Holdings in 2015, City Index, which was established in the United Kingdom in 1983, has developed into one of the most successful multi-asset brokers in the industry.
City Index is a reputable brand that is supported by its parent business, StoneX Group Inc. and is well-known for its large range of tradeable markets, outstanding mobile app, diverse market research, excellent trading platforms, and excellent mobile app.
Contracts for Difference (also known as CFDs) and spread-betting derivatives are services that City Index has been providing to traders for more than 30 years. Read our City Index Review to learn more about this broker.
City Index Regulation and Safety of Funds
In order to maintain their licenses and carry on business in the relevant jurisdictions, the brokerage companies must demonstrate that they are in compliance with a wide range of regulations and criteria that have been established by the regulatory authorities in those jurisdictions.
The purpose of regulation is to safeguard City Index traders and create a more secure environment for financial transactions. Authorization and financial regulation are crucial.
The corporation is subject to oversight from some of the most prestigious monetary bureaus in the world, including the Financial Conduct Authority (FCA) in the United Kingdom, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS).
It is thought that City Index is a reliable investment vehicle since it has a long track record, it is controlled by top-tier financial authorities, and its parent business is listed on a stock exchange.
The flip side of the coin is that the foreign exchange market is rife with brokers that lack integrity. They are commonly referred to as “offshore” brokers. Because of the broker’s terrible reputation, novice traders should exercise caution before creating an account with a broker that presents itself as being located “offshore.”
Every investor should stay far away from these widely publicized scam brokers:
SagaTrade: SagaTrade is not a regulated broker, and as such, they are unable to guarantee the security of your cash.
TriumphFX: Because TriumphFX conducts business in violation of the law and without a valid license, you should steer clear of doing business with them and go elsewhere for a broker.
Kiplar: Due to the fact that they are an unlicensed broker, your money will not be safe in their hands.
Account Types Offered at City Index
In terms of account management, everything has been done in a straightforward and uncomplicated manner. This means that you have the option of applying for either a CFD trading account or a financial spread betting account.
In addition, there is a choice between three different account types, which are referred to as Trader, Premium Trader, and Professional Trader, respectively. Although all of these account types offer the same level of effectiveness, utmost support, and technology, they differ according to the level of the trader who is using them.
Trading Instrument Available at City Index
City Index is a CFD and Forex broker. It features a good number of CFD products and an excellent collection of Forex to choose from.
Trading is possible on more than 12,000 markets around the world with City Index. These markets include spread betting, CFD trading, and Forex trading for 21 global indices, 4,500+ shares, 84 FX pairs, cryptocurrency, and 25+ commodities.
The cryptocurrency market at City Index is also comprehensively covered, and it includes Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ripple. Traders have the opportunity to adjust their trading strategies and begin trading cryptocurrencies as spread bets or CFD Minis.
Deposit and Withdrawal Procedure
City Index provides access to the most popular payment methods, which will aid you in determining which option is the most appropriate for transferring money into or out of your trading account.
Despite the fact that the available payment options are relatively restricted, they are in fact the most dependable, and they do not require any additional fees from you in order to transfer funds, which is unquestionably a significant benefit.
Traders are free to use any payment method they wish, from the handiest, like Bank transfers, to the most expensive, like e-wallets, and the company will not charge a fee for any transaction requiring a credit card.
Even though there is no requirement for a minimum deposit to start an account, the company recommends that you make a deposit of at least £100 or equivalent so that you can cover your margins.
Trading Platforms Overview
A range of platforms is available to use at City Index. These include web-based platforms such as the Advantage Web platform and downloadable platforms such as AT Pro. Additionally, mobile and tablet apps are available, and there is also the option to use the more traditional MT4 platform.
When compared against more than 500 other brokers, the City Index Platform received an overall rating of 9 out of 10. This earned it the Excellent ranking. Because the broker provides widely used platforms in the business, such as MT4, we rate it as outstanding.
As a highly adaptable web-based platform, it’s ideal for traders who want the convenience of not having to download or install anything but yet wants access to robust fundamental research.
Over time, the platform’s stellar performance earned it a number of industry accolades, and it quickly became the preferred option for a sizable percentage of traders.
You are free to utilize or access the platform in a variety of ways using the device of your choosing, and, of course, thanks to the fact that the basic City Index platform comes in a number of different versions with their own unique features and capabilities.
In addition, the broker does, in fact, pay a considerable amount of attention to the execution policy. Because of the technology that they have built, City Index is able to execute orders at a better price if the price shifts in a direction that is favorable to traders while the order is being processed.
Apps to facilitate advantageous trading are available for both iOS and Android devices. You will also get access to Reuters news feeds and an economic calendar for your convenience, in addition to having the ability to view live stream pricing and charts.
As we come to a conclusion, we can say that City Index, which is a subsidiary of the world’s renowned financial services provider GAIN Holding, is not simply the most trustworthy and secure organization with which to collaborate or do business. This is because of the stringent regulations and client protection standards.
City Index is considered to be one of the best brokers in the United Kingdom due to its extensive selection of technical optimization tools, as well as its highly developed selection of platforms and diverse instruments for analysis, strategy improvements, and functions that bring an excellent proposal mixture to complement your particular skill level and expectations.