About City Index
City Index is a UK-based provider of trading services in CFD, Spread Betting, Cryptocurrency and Forex (FX). Established in 1983, the company operates with the blessings of relevant regulators including the UK’s Financial Conduct Authority (FCA). City Index enables traders of all skill level to access more than 12,000 markets across Stocks, Indices, Commodities, and Forex. The markets encompass trading products from all major financial markets across the globe.
City Index provides powerful tools that traders need to hone their trading skills. Traders have access to a powerful trading platform whose charts are the right companion for successful traders. GAIN Capital Holdings Inc. is City Index’s parent company, and it is listed on the New York Stock Exchange. The parent company holds operational licenses in eight jurisdictions around the world. The platform serves more than 150,000 retail traders with approximately $978 million in assets as at FY 2018.
What products does City Index offer?
City Index offers three main types of trading products. First, there is CFD Trading. With a CFD Trading account, you can buy and sell CFDs for hedging or for profit making. The CFD Trading account facilitates trades on FX, Global Indices, Shares, and other markets.
Secondly, there is Spread Betting. A Spread Betting account will allow you to trade and earn a profit on the price fluctuations of many financial markets. This includes the price of Global Indices, Commodities, Shares, Currencies, and more.
Thirdly, City Index offers FX trading. Forex traders can use the City Index FX account to access 84 global currency pairs with spreads starting from 0.5 pips. Besides, the City Index platform has great charts that traders can customize to develop winning strategies.
Does City Index support MetaTrader platform?
Yes. City Index is aware that MetaTrader is a popular trading platform for all types of traders. The platform is easy to use and quick to set up. Clients can access MetaTrader version 4 (MT4) platform. On this platform, traders can set up Demo and Live accounts and trade the wide range of products on offer. Interested customers can download the platform here.
What is great about City Index’s trading platforms?
City Index clients have access to powerful charts that have multiple layouts. Also, there are multiple types of charts through which traders can deal without having to switch windows. The charts have extensive drawing tools as well as more than 65 indicators to facilitate the best trading strategies.
Does City Index charge deposit and withdrawal fees?
City Index does not charge for withdrawals. However, any withdrawal of £5,000 and above attracts £25 charge. This is because such amounts may require clients to move them through a Clearing House Automated Payment system (CHAPS). If you choose to move funds below £5,000 via CHAPS, then you will pay the £25 charge.
Deposits into a City Index account via debit cards are free. However, deposits using credit cards attract a 1.5% charge.
Is my money secure with City Index?
City Index offers great security for your funds. First, the UK’s FCA regulates the company where its major purpose is to protect City Index’s clients.
Secondly, City Index maintains separate bank accounts. The segregation of clients’ funds from the company’s funds ensures integrity and safety.
Thirdly, City Index is a member of the Financial Services Compensation Scheme (FSCS). The FSCS can compensate City Index’s clients in the event that the company goes under.
Fourth, City Index has a funding portal secured by top security firms in the market.
What commissions, if any, that City Index charges?
City Index does not charge commissions on Spread Betting and FX markets. On the CFD markets, only trades in CFD Equities attract commissions. For UK equities and some in the European region, City Index deducts 0.1% of the consideration as commission. The commission for US equities is 0.15% and 0.2% for Asian Equities. Nonetheless, UK equities attract a commission not less than £10 and not less than $25 for US and Asian Equities.
How is City Index customer care experience?
City Index has comprehensive customer channels. On registration, City Index mails you a welcome pack that contains key information for your account. Customer care representatives will then call you to walk you through the platform. There is ongoing support where customer care representatives call and email you to answer your questions and to update you on any changes. Lastly, City Index sends clients a monthly newsletter that contains expert analyses of market trends, and relevant market news.
Can I make a profit with City Index?
Absolutely. City Index maintains tight spreads for all its products. The platform offers both fixed and variable spreads depending on the market. Usually, City Index quotes the minimum spread possible under the variable regime.
Does City Index offer training material?
City Index has a training portal for all traders at different stages of their experience. The education resources are divided into education for new traders and education for experienced traders. Learners have access to tutorials and videos that inundate them with requisite knowledge for successful trading. Besides, the training portal contains information on how to trade using the City Index platform. Also, there are plenty of training resources for teaching trading strategies.