Contents
A detailed section is also provided on CFDs and why you should trade in CFDs with this provider. City Index provides rich education and training content that will help avoid investors’ accounts lose money, regardless of whether they are beginners or professional traders. There are several categories to the education and training module of City Index. Retail investor accounts lose money mainly due to a lack of required knowledge and expertise about trading. Here, City Index has a strong social media presence to spread research and marketing materials so that traders can quickly pick up the ropes about trading on each platform.
Yes, CityIndex is a safe broker for British traders to trade with. Founded in 1983 in London, CityIndex maintains regulation from multiple top-tier regulators, including the UK’s FCA, ASIC of Australia, and the MAS of Singapore. CityIndex is also owned by StoneX, a Fortune-100 NASDAQ-listed company, further burnishing its credentials as a safe broker. FOREX.com, registered with the Commodity Futures Trading Commission , lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade. It holds client funds in segregated accounts and there is a deposit compensation scheme available in the U.K. There is no such scheme for clients in Australia and Singapore.
AT Pro Desktop – This platform is primarily for professional traders who are willing to take the high risk. There are about 139 charting indicators and 25 drawing tools and automated trading functions on the Development Studio. Top-of-the-line features include the capability to backtest potential strategies to avoid the high risk of losing money. The City Index mobile applications have been created for both the IOS and Android platforms and have well-organized menus and quick sync between platforms.
This high level of regulation provides peace of mind for clients. It also includes access to the FSCS compensation fund for UK clients. Hone your trading skills with our free educational resources designed for experienced traders and get the most from every trade. Discover how to use our range of advanced risk management tools to protect your funds and lock in any profits when trading.
Trading Platforms
City Index also recommends you have more than enough money in your account to cover drawdowns and margin costs. Furthermore, Citibank cards cannot be used for funding, and City Index does not accept cash payments directly into their bank account. The trading conditions are also very good for beginners, because they have the opportunity to use a demo account without any restrictions. Hello everyone it is possible to retrieve your stolen bitcoins.
City Index is a popular CFD broker in the UK and are regulated with the FCA. They provide CFD trading on various instruments and spread betting services with zero commission for currency pairs. Their offer of CFDs is somewhat limited so that can be considered a drawback.
Is CommSec a CFD?
CommSec is a Participant of the ASX Group. ASX CFDs are a highly leveraged financial product that incorporates a high level of risk.
Before the account can be closed, you need to answer two security questions that you set up prior to verifying your identity. After providing this information, City Index will proceed to close your account. City Index has a Training tab on its website that offers educational resources for traders at all levels. Other brokers like Plus 500 and eToro allow unlimited use of their demo platforms and a link to the live platform. Traders should consult the City Index products section of the website for specific leverage allowances for each financial instrument.
City Index’s Customer Support
I would like to see them include some more online payment processors. Whilst PayPal is the most popular, there other alternatives nowadays such as Skrill and Neteller. Additionally, it would be great if they were to introduce crypto payments but I understand alpari forex this may not be possible due to regulatory restrictions. The minimum deposit starts from $100 which should be achievable if you are looking for a quality broker. If that is out of your range, Trade Nation have a minimum $1 deposit requirement.
Is Cityindex a market maker?
The broker acts primarily as a market maker, like most European CFD brokers, raising conflict of interest issues. However, they offer central clearing on ‘certain markets’ as a free service that requires an additional client application.
The real-time margin calculator can help to keep your trading decisions under control. The platform is easy enough to use for new traders whilst having enough advanced functionality for the more experienced investor. Its platforms offer you adequate tools for market analysis and links to third-party research providers can help you in the decision-making process.
Traders will be directed to fill in their personal details, including name, surname, email, physical address, and date of birth. Overall, this is a welcome development in an industry where additional fees are charged on almost every transaction. We may receive compensation when you click on links to products we review. As a group City Index have over 400 employees worldwide and offices in the UK, Poland, Singapore, China, Israel and Australia. They transact in excess of 2 million trades every month for individuals in over 50 countries worldwide.
In 2014, Michael Spencer, the founder and controlling shareholder of City Index, sold the company to GAIN Capital Holdings for $118 million. The combination created a global firm with operations in more than 150 countries and annual trading volumes in excess of $3 trillion. In 2001, the firm introduced CFD trading, and in 2006, with the acquisition of IFX Group, City Index entered the forex marketplace. In 2008, City Index expanded its presence in forex with the acquisition of FX Solutions.
Get a Forex Pro on Your Side
Traders will also find comprehensive market information, including a detailed analysis from Reuters. There is no minimum deposit — City Index recommends $/£/€100 as a starting point. After completing this information, traders may have to submit additional information to verify their identity.
Ripple is also popular amongst large banks with the Ripple network a next group real-time gross settlement system. It gives a trader instant cross-border fund transactions at very low costs. The Trader Account is the basic account that everyone has to start out with. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings.
What is the difference between CFD and stocks?
The main difference between trading contracts for difference and share trading is that when you trade a CFD you are speculating on a market's price without taking ownership of the underlying asset, whereas when you trade shares you need to take ownership of the underlying stocks.
From our price improver guarantee to the ability to trade using unrealised profits, our platforms enable you to maximise your trading resources. SMART Signals scan the markets for opportunities so you don’t have to. Get real-time 10 best penny stocks actionable trade ideas on dozens of popular markets based on historic price action patterns. See how each signal has performed the last 10 times it was triggered to get transparency into their previous performance.
See all City Indexs Interest Rate Spreads
Can gain access to forex markets through spread betting, CFDs and foreign exchange spot transactions. City Index offers quite competitive spreads and margins on over 40 major and minor currency pairs including GBP/USD, EUR/USD and USD/JPY. In specific, it charges from 0.1% each side of market spread on Spread Bets and tight spreads from 0.5 points on Forex. The Forex CFDs include Spot and Futures and margins start from 3.33%.
TopBrokers.com will not accept any liability for loss or damage as a result of reliance on the information on this site. Forex pairs, cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money. TopBrokers.com would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
ETX Capital Interview
Usually, the phone’s first linkup is through an online chat robot before getting through to a human customer care executive. We strive to provide efficient and quality customer support for our clients. Although we take pride in providing valuable support, we can understand that we can always improve.
City Index allows you to use any unrealised profits from open positions as margin for any new positions that you may wish to open. City Index will aim to close out trades if your funds fall below 50% of your margin requirement to protect clients against negative balances. Over 100 technical indicators allow manual traders to tweak their analysis, while the innovative deal ticket features all necessary information. Real times news is curated by Reuters, inside the technical/fundamental analysis portal. Other essential features include a phenomenal charting package, precision drawing tools, and valuable market data. AT Pro represents one of the most advanced trading platforms available to traders in today’s financial markets.
Featured Brokers
Trading any financial instrument involves a significant risk of loss. Commodity.com is not liable for any damages arising out of the use of its contents. When evaluating online brokers, always consult the broker’s website. Commodity.com makes no warranty that its content will be accurate, timely, useful, or reliable.
GAIN Capital acquired City Index for $118 million in late 2014. In early 2017, GAIN acquired FXCM’s U.S. accounts worth $7.2 million immediately after FXCM was banned in the U.S. Gain Capital, the owner of this brokerage, provides a stable foundation. Once you are done with floor trader pivots the deal, you can click the close trade option to exit the trade. Advantage web – This old legacy platform of City Index that depends on Adobe Flash is still available. But it is advisable to avoid this platform as Adobe Flash is not supported by most browsers today.
Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees. Regrettably, qualifying to get a VIP account requires consent from the City Index VIP team. But if you do qualify then you might find an improved forex and options trading expertise, in addition to better spread gaming deals. Additionally, it provides advanced graphs, including custom indexes and precision drawing tools. This makes exploring trades considerably easier and conserves working out the system. You’ll also cover a little financing fee on your bitcoin exposure should you hold a position overnight.
Your funds are protected up to £85,000 by the Financial Services Compensation Scheme . Tax-free trading across all markets in every major asset class. Marko has been working on the road for over 5 years, and is currently based in Europe. Alongside writing and editing, Marko works on projects related to online technology and digital marketing. City Index is regulated by three major financial regulatory bodies. These regulating bodies are the Financial Conduct Authority , the Australian Securities and Investments Commission , and the Monetary Authority of Singapore .
CityIndex’s market analysis materials are detailed and well-structured, and much better than what is usually available at other brokers. Live TradingView charts, allowing you to plan your next trade with full-screen TradingView charts and 60+ technical indicators. Financing is a fee that you pay to hold a trading position overnight on leveraged trades.