CityIndex – The Best Forex Broker?
Read our CityIndex broker review below...
...CityIndex is a leading Forex, CFD and Spread Betting broker, providing professional trading services to retail and small institutional clients around the world. CityIndex is part of GAIN Capital and is regulated by the Financial Conduct Authority. In the United States, the broker is regulated by the National Futures Association. The company has offices in London, Dubai, Sydney, Shanghai, Hong Kong and Singapore, among several other areas.
CityIndex helps traders grow, giving them the tools they need to improve their trading skills. They provide services at fair and transparent prices, and provide the best customer support as well as extensive educational resources and market news.
High quality research tools
Winner of numerous awards
Tight spreads & low margins
Fast execution speed
Segregated client bank accounts
Access to more than 12,000 markets
Limited payment options
No Swap free accounts
Broker does not provide bonuses
Inactivity fee after 12 months
No social platform and copying
Metatrader 5 not yet available
CityIndex is a leading Forex, CFD and Spread Betting Broker. In 2014, CityIndex was acquired by GAIN Capital, listed on the NYSE since 2010. GAIN Capital is in demand among hedge funds, including institutional traders and banks. Its clients are primarily targeted at UK and US clients, with more than 12,000 assets available for trading. CityIndex has received a number of prestigious trading awards such as «CFD Provider», «Forex Provider of the Year», «Best Trading Platform» and others. The company also has over 140,000 retail customers in 180 countries and over 800 employees in four. Financial activities are regulated by world jurisdictions: CFTC, NFA, IIRO, FCA, SFC, MAS, CIMA, ASIC. In the event of fraud by a broker, clients can receive compensation of up to £85,000 from the FSCS. Overall, CityIndex is a decent ECN broker and can offer quality services when compared to other traditional brokers in the industry.
You can start trading stocks, indices, currencies, commodities and cryptocurrencies such as: BTC/USD, ETH/USD, LTC/USD and XRP/USD. Trades are conducted with minimal spreads and commissions. On the website, you can see the calculated spreads and costs for each product. The web platform won the awards «Best Spread Betting Platform» at the ADVFN International Finance Awards 2017. Such great interest among investors is the result of the high level of security of the transactions and optimal trading conditions.
The company’s offer is presented in detail on the official website and, of course, it is worth getting acquainted with it. You will find three account options that differ in the tools provided and the maximum leverage you can use, namely:
- Personal Account
- Premium Trader
- Professional Trader
They differ in the offer and the number of available trading instruments. Premium and Professional customers also enjoy personalized support from professional consultants, the ability to attend prestigious meetings and seminars, lucrative cash discounts, and full access to industry reports and news. All relevant account transactions – from opening and managing to closing an account – are free of charge.
Clients can choose from several trading platforms such as Advantage Web, AT Pro or MetaTrader 4. The web platform can also be accessed from any computer with an Internet connection. The AT Pro trading platform includes news feed the Reuters, which is a lot for many traders. The broker has received several awards for its patented platform and traders have chosen it, in particular, for its professional capabilities. You can also switch to trading stocks and CFDs on a similar platform. CityIndex operates on the NDD and ECN systems, bringing client orders to the international market. Mobile apps are also available for iPad, iPhone, Android and other devices. For the convenience of clients, the broker allows you to automate trading in «One-Click Trading».
CityIndex keeps their client’s funds in separate bank accounts from the company’s bank account. Withdrawals usually take three business days, but card withdrawals can take up to 5 business days. The minimum deposit at CityIndex is $100 and there is no withdrawal fee. This minimum deposit applies to both the first and subsequent deposits. You can contribute with Visa or MasterCard, Maestro credit and debit cards, and bank transfer.
CityIndex customer support is multilingual, available five days a week to both existing and future traders. You can contact the support personnel by phone or via chat. Professional support knows their responsibilities and will help you solve your questions. In the Help and Support section, you can find answers to the most common questions with additional examples, there you will find many useful materials. CityIndex customer service supports a wide range of languages.
CityIndex FAQ on the broker
1 Is CityIndex a regulated broker?
Yes, CityIndex is regulated by NFA, CFTC, FCA, IIRO, CIMA, MAS, ASIC, UASE in United Kingdom and others.
2 What trading platforms does CityIndex offer?
CityIndex offers the full suite of MT4, Mobile, AT Pro, Advantage Web.
3 What is CityIndex maximum leverage?
Maximum leverage at CityIndex is 1:400.
4 What methods can I use to deposit and withdraw funds on CityIndex?
Deposits and withdrawals with this broker can be done using these methods: Maestro, Visa, Mastercard, Bank Transfer, PayPal.
5 What is the spread of the CityIndex broker?
The spread for this broker is on average CityIndex is 0.5 - 2 pips.
6 What’s the minimum deposit to open a Live account at CityIndex?
The minimum deposit to open a Live account is 100 USD.
7 What cryptocurrencies are available at CityIndex?
In this broker are the following cryptocurrencies for trading: BTC/USD, ETH/USD, LTC/USD, DASH/USD, BCH/USD, XRP/USD.
8 In what currency can I open an account with CityIndex?
With this brokers you can open an account in currencies: USD, GBP, EUR.
9 What Trading Instruments are available at CityIndex?
On CityIndex, you can trade financial instruments such as: CFDs, ETFs, Forex, Crypto, Indices, Stocks, Options, Bonds, Metals.