City Index Review
- FCA UK regulated with publicly traded parent company Gain Capital.
- Fast and smooth account opening
- No fees are charged for deposits or withdrawals.
- 12,000+ instruments to trade on, covering multiple asset classes.
- Low fees for forex and index CFDs
- Feature-rich, web-based proprietary trading platform.
- Wide range of education and research tools.
- Platforms: HTML5 Web Trader, the AT Pro desktop, MetaTrader 4
City Index is authorised and regulated by the UK Financial Conduct Authority under the name Gain Capital UK Limited with register number: 113942,
Is City Index safe or a scam
City Index operates a bunch of subsidiaries and depending on your residence, one of these subsidiaries will serve you. The investor protection amount you get depends on the subsidiarys country you are signing up with.
For example, if you come from the UK, you will sign up with GAIN Capital UK Ltd and get an £85,000 investor protection. GAIN Capital UK Ltd is regulated by the FCA, the UK regulator.
|Client country||Investor protection amount||Regulator||Legal entity|
|£85,000||Financial Conduct Authority (FCA)||GAIN Capital UK Ltd|
|Australia||No protection||Australian Securities and Investments Commission (ASIC)||GAIN Capital Australia Pty Ltd|
|Singapore||No protection||Monetary Authority of Singapore (MAS)||GAIN Capital Singapore Pte|
Negative Balance Protection ensures that retail traders never lose more than the funds in their account. Should your CFD or spread betting account fall negative, They will adjust the balance to zero, at no cost to you (this does not apply to Professional Traders).
City Index offers three main types of trading accounts which includes: Trader, Premium Trader and Professional Trader. They also offer a free demo trading account for traders.
Each account comes with some similarities and differences as highlighted in the comparison table above.
The minimum deposit amount required is $150. However, when funding via credit/debit cards, there is a minimum amount per card transaction of $250. Its also a very low amount as there are brokers, which require a minimum of $2,000 or more.
|Minimum account balance||£0||£10,000||£0|
|Leverage||Up to 30:1||Up to 30:1||Up to 400:1|
|Additional services||-||Relationship manager||Relationship manager|
If you want to trade with Professional account, you have to satisfy criteria, such as holding a min. €500,000 portfolio or working experience in the financial sector.
Based on ownership, you can open an individual or corporate account. If you are from the UK, you can trade with SIPP account as well.
How to open new account at City Index
1. Clicking on the Create Account button
2. It will then open up a registration page where users simply need to fill their account information details, as shown below:
3. Users are then asked for personal and financial information, employment status, trading experience, as well as the base currency of the account you would like to open (EUR, GBP or USD). Then users are asked to agree to certain terms and conditions, as well as contact preferences, before the broker starts to process the application which takes up to 30 seconds, as shown below:
Users are then redirected to a verification page to upload proof of identity and proof of address details, as shown below:
The account opening is fully digital and takes only 1 day until your account is approved.
Demo account City Index offers demo accounts for CFD and FX. Please click here to apply for a demo account.
After fill in all the info above. you will see the notification as below:
City Index offers a wide range of instruments to trade on covering all major asset classes such as below:
Below is a list of just some of the markets available for trading:
Including majors, minors, and some exotics. Traders can choose from USD, GBP, EUR, and cross-currency pairs.
|EURUSD, AUDNZD, CHFJPY, USDTHB, GBP/AUD, GBP/CAD, EUR/AUD, etc|
City Index offers CFD trading on 21 indices from Asia, Europe, US, and Australia
|Australia 200 CFD, China A50 CFD, Crypto 10 Index CFD, EU Sotcks 50 CFD, US SP 500 CFD, etc|
|Shares||City Index offers CFD trading on more than 4,500 shares of the most popularly traded public companies in the world||Amazon.com, Lloyds Banking Group, Barclays (UK), Glencore, etc|
|Crypto||The cryptocurrency selection is limited with City Index, though they do offer||Bitcoin, Bitcoin Cash, Etherenum, Litecoin, Ripple|
|Other Markets||City Index offers CFD contracts on a variety of other commodities and products:||Metals: Gold, Silver, Copper, Platinum
Other Commodities: US Crude Oil, UK Crude Oil, Sugar No. 11, Coffee, Natural Gas
Bonds: UK Long Gilt, Euro Bobl, US T-Bond, US T-Note
Interest Rates: Short Sterling 3 month, Eurodollar, Euribor 3 month
Options: UK 100, Wall Street, Germany 30, Australia 200
City Index has great forex and average CFD product selections. Comparing Plus 500, this product line-up is more advanced, while IG is taking over in terms of the number of products available.
|FX pairs (#)||84||205||70|
|Stock index CFDs (#)||21||78||26|
|Stock CFDs (#)||4,500||10,500||1,889|
|ETF CFDs (#)||99||1,900||95|
|Commodity CFDs (#)||25||47||25|
|Bond CFDs (#)||12||13||-|
Changing the leverage is a very useful feature when you want to lower the risk of your trade. For example, instead of trading with 5:1 leverage, only trade with 2:1 leverage in case of stock CFDs. Be careful with forex and CFD trading, as the preset leverage levels are high.
The drawback at here that you cant change leverage levels
City Index offers users the ability to trade on their advanced, feature-rich, browser-based trading platform called HTML5 Web Trader, their desktop download platform called AT Pro, as well as on MetaTrader 4.
HTML5 Web Trader
It looks friendly and nice. You can easily add, remove, change the size or change the position of the tabs.
The broker’s own browser-based proprietary trading platform is feature-rich, offering the following:
We really liked the search functions of the web trading platform. You can search by typing the preferred product and there is also a product list with categories, like forex or popular markets.
Portfolio and Fee reports
City Index has clear portfolio and fee reports. You can find them on the "Reports" and download the reports in Excel, PDF, XML, and CSV.
There are two desktop platforms, the AT PRO Trading platform and MetaTrader 4. Similarly to the web trading platform, we tested the Advanced Trading Platform as this is City Indexs own platform, while MetaTrader 4 is a third-party platform.
AT PRO Trading Platform
City Indexs desktop trading platform has the same functionality as the web trading platform. For example, you can use the same order types or price alerts
AT Pro Trading Platform is designed for Advanced Users so it isless user-friendly for beginners. It was hard to navigate on the platform and felt too crowded with functions.
Allowing users to create your own unique trading templates in C#, .NET and Visual Basic with AT Pros Development Studio, or access to hundreds of in-built templates. It also offers:
- 100+ techinical indicators
- Deal through Charts
- Multiple chart types available, including Candlestick, Heikin-Ashi and Point Figure to allow you to identify trends and key levels.
- Use extensive range of drawing tools including trend lines and Fibonnaci retracements to identify key support and resistance levels.
- Trading signals instantly display potential trade entry and exit points on charts for greater accuracy
- Choose from over one hundred free templates and customise them based on your requirements
- Use back-testing excel tool to see how trade signals have performed against historical data
- Customisable economic calendar
- Real-time news from Reuters
- Technical and fundamental analysis portal
MetaTrader 4 Trading Platform
MT4 is one of the most popular Forex trading platforms globally, It offers:
- Analyse price movement and trends with indicators customised to your needs
- Access a vast array of timeframes and charts with the MT4 charting package
- Automate your trading with Expert Advisors
- Customisable economic calendar
- Trade over 80 Forex pairs, including majors, minors and exotics.
There are two platforms, You can use City Indexs own and MetaTrader 4 mobile trading platforms. Both platforms are available on iOS and Android smartphones and tablets. In this review, we tested City Indexs own mobile
Mobile Trading Apps (City Indexs own)
The City Index mobile trading platform is user-friendly and well-designed.
We liked the Take a tour option on the menu. Another great feature is the embedded Economic calendar that has advanced filter options and can be customized on a high level.
The search functions are good. You can search by typing the assets name or through the product categories.
And more features on mobile as below:
- One tap dealing through charts
- 60+ custom indicators Chart Profiles saved to your preferences
- Live TradingView charts
- Receive the latest global investment news from Reuters in the app
- Real-time price alerts
- Customisable economic calendar
Which trading platform is better for you?
Most seasoned traders will tell you that all they really want from a trading platform is something that is reliable and easy to use, intuitive, and doesn’t crash. Each platform is unique and has its own pros and cons, so it is best to understand what you want in a forex account, and platform before you get started.
You can use many order types, including some sophisticated ones.
How to place a trade at City Index
- Stop trailing
- One-cancel-other (OCO)
We didnt see any order time limits we could use.
Deposits and Withdrawals
What is the minimum deposit amount at City Index?
The minimum deposit amount required is $150. However, when funding via credit/debit cards, there is a minimum amount per card transaction of $250. Deposit Fees?
There are no charges for making deposits to your account from a debit/credit card or local bank transfer.
Account Base Currency?
You cant change the account base currency at the account opening. If you would like to change that, you have to reach out to the City Index support team.
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 dont have to pay a conversion fee.
A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank.
What is the minimum withdrawal amount?
Does City Index charge withdrawal fees?
No. their company does not charge clients for withdrawals.
View a full list of pricing and charges at City Index across all of the markets they offer.
City Index has low fees for forex and stock index CFDs. On the other hand, stock CFD fees are high and they charge inactivity fee after one year.
Commissions and Fees
Spreads and Margins of each assets
City Index Indices
City Index Shares
City Index Forex
City Index Bitcoin
City Index Other Cryptocurrencies
City Index Commodities
City Index Metals
City Index Bonds
City Index Interest Rates
|Market name||CFD Spread||CFD Commission||Minimum|
|Australian shares||Market||0.09%||$5 AUD|
|US shares||Market||0.15%||$25 USD|
|Country||Financing on long positions||Financing on short positions|
|UK||LIBOR +2.5%||LIBOR -2.5%|
|US||LIBOR +2.5%||LIBOR -2.5%|
|EU||LIBOR +2.5%||LIBOR -2.5%|
|Australia||Deposit +2.5%||Deposit -2.5%|
|Other international||Contact Client Management||Contact Client Management|
At the time of this City Index review, they did not offer any bonuses or host promotions. But this could change over time.
Bonuses and Promotions
City Index offers an impressive range of trading features that are already built in to their very own trading platform. For example, users can access Guaranteed Stop-Loss orders on thousands of markets.
The broker also offers an external technical analysis and fundamental analysis research tool which helps scans for chart patterns and a range of indicators and oscillator bullish and bearish conditions.
The broker also offers fundamental analysis tools, powered by Trading Central, which includes:
- Stock valuation
- Best buy opportunities
- Company metrics
- Global data
- and more.
City Index has been around a long time and gives the impression that it has spent that time fine-tuning the service it offers its clients. It is a global broker that is licensed and authorised by top tier global regulators
They provides a simple, transparent trading, yet highly competitive offering suitable for both beginner and advanced traders. Users have access to Spread Betting accounts, offering commission-free trading and CFD trading accounts offering commission-free trading on all asset classes except Share.
Traders can access more than 12,000+ trading instruments covering a wide variety of markets including Indices, Shares, Cryptos, Forex, Metals, Commodities, Bonds and Interest Rates with very competitive spreads.
On top of this regulatory platform, it has built a research rich and user-friendly trading environment that will appeal to all kinds of traders, including their HTML5 Web Trader platform and the AT Pro desktop download platform for advanced traders and the globally-recognised MetaTrader 4.
The broker offers some interesting advanced trading tools with their technical analysis and fundamental analysis research portal. They also offer a high level of trading research and education that beginner and advanced traders will find of use and easy to access.
It has some drawbacks though. The product portfolio is limited, the stock CFD fees are quite high.
In short, City Index provides a high level user experience based upon a solid foundation; they can be easily recommended to any level of trader.
Yet, we would be glad to know your personal opinion about City Index you may share your experience in the comment area below, or ask us for some additional information if required.