Spreads start from 80 points but given the highly volatile nature of the cryptocurrency markets, they can fluctuate quite largely and rapidly. Should your required margin fall below 50% a margin, closeout will be activated. At this point, the broker will automatically exit some trading position till the threshold is no longer crossed. City Index was founded in 1983 and is regulated by the FCA which means they have to keep client funds safe and segregated from their own money. City Index seems to have matured nicely though, it’s grown out of its lumbering adolescence under the ownership of Gain Capital and is now owned by US Behemoth StoneX (previously INTL FCStone). Since then, the platform has had a few upgrades and long-term investment products will hopefully be added shortly.
- These are short sterling with a spread from 0.02 pips, Eurodollar from 0.02 pips, and Euribor from 0.02 pips.
- This means you can get assistance whenever the markets are open, which is crucial as a spread bettor.
- Additionally, clients can receive compensation of as much as £85,000 from the Financial Services Compensation Scheme (FSCS) in the unlikely event that liquidation occurs.
- These can include market liquidity, volatility, and other issues though tight spreads are generally on offer.
- All bets are made in sterling with small stakes and limited risk bets available on certain markets.
What Is The Minimum Deposit At City Index?
This means your funds are held in segregated accounts, and the broker provides negative balance protection – two features that help protect your assets in volatile markets. City Index is a fantastic broker that scored high all across the board for spread betting. They are simply strong in every category from tight spreads, to thorough regulation, great education resources and dedicated customer service.
Mobile
- City Index is one of the market leaders for spread betting and CFD trading.
- Research and news articles on City Index’s web platform from in-house staff and third parties, including Trading Central.
- Clients can trade more than 4,700 stocks from multiple exchanges while index and metal CFDs can be traded on a cash or futures basis.
- Excessive fees levied on earnings are a significant consideration for investors when choosing a broker.
- With a minimum deposit of $25,000, this trading account would really appeal only to premium traders.
Visa, MasterCard, Maestro, and Electron are all supported by the broker, and deposits using your credit or debit card are completed instantly. Of this haul, they have been selected as the best Spread Betting or CFD provider 5 times and won the Best Platform or App award 6 times. To this end, they ensure that you have the best possible trading environment. The company, under the name StoneX Financial Ltd. is regulated by the Financial Conduct Authority (FCA) in the UK with the registration number #446717.
Risk Management
I think the range of financial markets City Index offers is impressive. After forex spread betting; the second most popular instrument for trading is shares. I reviewed the fees for these markets, and City Index consistently outperforms the industry average across all five of the main categories. City Index recommends a minimum deposit of at least £100 or enough to cover the margin of your first trade. You can fund your City Index account using Visa or Mastercard credit cards; debit cards from Mastercard, Visa, Maestro, or Electron; or a bank transfer. There is no charge for making a deposit to your City Index account, although credit card providers may charge a fee.
During my tests of City Index’s execution speeds, I found their performance solid. I conducted my tests during the London trading session, known for its high liquidity, and I didn’t encounter any issues with order fills. I did find a few minimum deposit requirements attached to other payment methods. The backing from StoneX, and the multiple layers of regulation, are two big positives for City Index in my book. On top of this, a client roster of 1,000,000, city index review and a four-decade trading history, are proof of a solid reputation. The broker is regulated by the UK’s Financial Conduct Authority (FCA), which is a good sign that you’re dealing with a reliable firm.
Ultimately, each trader must weigh the pros and cons themselves and choose what is right for them. Our broker reviews are reader supported and we may receive payment when you click on a partner site. Verdict, overall, a great all-round platform that is backed by one of the largest financial institutions in the world.
Trading Platforms
Spread Bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. City Index is an excellent broker with a lot of longevity in the trading industry. It offers its clients high-tech platforms and a wide range of trading tools.
Platform and Tools
The main reason why both products are on offer is that spread betting is only available to UK residents, whereas City Index can offer CFD trading to its global client base. The well-designed, intuitive interface is packed with features such as multiple chart types, 14 time intervals, advanced drawing tools, and one-click trading directly from charts. The platform also offers Performance Analytics, designed to help traders set up a trading plan, track their executions, and review trades. The feature that stands out most, however, is Trading Central – an advanced, AI-based research and idea generation tool. Overall, City Index offers an all-around solid desktop trading experience, even if it lacks a downloadable platform. As with most spread betting brokers, City Index clients trade via two-way bid-offer prices the difference between the bid and offer representing the spread.
City Index offers some of the best trading tools and analysis to help traders perform better. Their unique post-trade analytics and voice brokerage service make it an excellent choice for large and frequent traders. 76% of retail investor accounts lose money when trading CFDs with this provider. UK Spread Betting & Investing Platform IG is a pioneer in spread betting, offering FCA-regulation and access to over 17,000 instruments, ideal for serious traders. 70.5% of retail investor accounts lose money when trading CFDs and Spread Bets with this provider.
Risk Warning
One cancels another (OCO) orders let you simultaneously set a limit and stop order, canceling one order when the other is fulfilled. Guaranteed stop loss orders will guarantee your specific execution level, no matter gapping in the market, but do cost a small premium. Finally, trailing stops trail current market prices by a specified number of points, letting you minimize losses without also limiting your potential gains. By comparison, ECN brokers operate through a no-dealing desk (NDD) where client orders are matched directly with various liquidity providers (LPs). In addition to these methods, traders can also find the answers to a range of frequently asked questions in the FAQ section of the brokerage’s website. Traders are able to speculate on a broad array of bonds and interest rates including US T-notes, UK Long Guilts, Euro Bund markets, and Eurodollar and Euribor rates.
I’m sorry to say that the experience is not always quite so easy with some of the other brokers I’ve tested. This is a benefit, as it provides continuity between desktop and mobile trading. You can analyse the same charts across both platforms, accessing all the same technical tools. For on-the-go trading, City Index offers a free mobile version of its Web Trader platform for iOS and Android devices.
You can switch between your devices seamlessly while trading, including smartphones and tablets, for added versatility. City Index is a derivative brokerage firm that offers customers a platform for spread betting and trading forex and Contracts for Difference (CFDs). City Index is a Financial Conduct Authority (FCA) regulated broker with global operations, most notably in the UK, Australia, Singapore, and the United Arab Emirates.
James is a former FTSE100 AI Director and trader with 10+ years trading his own capital. He is the Managing Director of SpreadBet.AI and currently trades his own capital through both CFD trading & spread betting as well as working with one of the leading prop firms in the world. After thoroughly exploring City Index’s offerings, it’s clear that this broker has a lot going for it. With over 13,000+ tradable instruments, a variety of platforms, and a strong focus on security, it’s a great choice for both beginners and experienced traders.
Or you can trade using MetaTrader 4, with its impressive array of features. It is among the most popular forex trading platforms thanks to its intuitive and feature-rich nature. It includes custom indicators, trading signals, professional charting, and support for Expert Advisors. AT Pro is a desktop platform that will appeal to advanced users who want the most powerful trading tools. It includes enhanced efficiency and speed, an advanced charting package, and your choice of trading templates.
When maintaining CFD positions past market hours, overnight charges may apply. The broker’s financing charge stands at SONIA plus 2.5% for long trades or minus 2.5% for short positions. Importantly, live accounts are split between Standard, DMA and Professional trading solutions.