City Index Review

Екілік опциялар брокерлерінің рейтингі 2020:

City Index Review

Beyond its extensive range of products, multi-asset traders confidently choose City Index for competitive spreads, great platform options, premium research tools, and reliable customer service, all under the backing of GAIN Capital, which is one of the largest retail brokers globally.

Top Takeaways for 2020

After spending five months testing 30 of the best forex brokers for our 4th Annual Review, here are our top findings on City Index:

  • Owned by publicly-traded GAIN Capital, City Index is regulated in three tier-1 jurisdictions, making it a safe broker (low-risk) for forex and CFDs trading.
  • When using its proprietary platforms, City Index is an excellent choice for low-cost trading.
  • Whether trading with one of City Index’s proprietary platforms or using MetaTrader, City Index provides great tools, market research, and a diverse offering of tradeable products. That said, City Index’s copy trading experience is good but doesn’t quite stack up with the best copy trading brokers.

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Overall Summary

Feature City Index
Overall 4.5 Stars
Trust Score 93
Offering of Investments 5 Stars
Commissions & Fees 4 Stars
Platform & Tools 4 Stars
Research 4.5 Stars
Mobile Trading 4 Stars
Customer Service 4 Stars
Education 4 Stars

Is City Index Safe?

City Index is considered low-risk, with an overall Trust Score of 93 out of 99. City Index is publicly traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulators (low trust). City Index is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), and the Financial Conduct Authority (FCA). Learn more about Trust Score.

Regulations Comparison

Feature City Index
Year Founded 1983
Publicly Traded (Listed) Yes
Bank No
Tier-1 Licenses 3
Tier-2 Licenses 0
Tier-3 Licenses 1
Trust Score 93

Offering of Investments

The following table summarizes the different investment products available to City Index clients.

Other offerings: Like other brokers in the UK, City Index also offers the option to trade many of its CFD products as a spread bet. Since spread-betting carries certain tax efficiencies for UK residents, it can be a beneficial alternative to CFDs if you reside in the UK.

Offering Comparison

Feature City Index
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 84
CFDs – Total Offered 4500
Social Trading / Copy-Trading Yes
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Commissions & Fees

City Index offers competitive spreads on Forex, CFDs, and spread-betting products. While average spreads are higher on MT4 than its proprietary platforms, in our testing, City Index finished Best in Class (top 7) overall for cost. Both fixed and variable (floating) spreads pricing options are available.

Advanced Trader: With average typical spreads on the EUR/USD of 0.8 pips (as of October 2020), the all-in cost for all traders is comparable to the default pricing at pricing leaders such as CMC Markets.

MetaTrader: Spreads on City Index’s MT4 platforms are considerably higher, with average spreads of 1.7 pips on the EUR/USD over the same period. Also, price tolerance settings are not available on MT4, whereas they are available with City Index’s proprietary trading platforms.

Екілік опциялар брокерлерінің рейтингі 2020:
Feature City Index
Minimum Initial Deposit £50.00
Average Spread EUR/USD – Standard 0.8 (Oct 19)
All-in Cost EUR/USD – Active 0.8 (Oct 19)
Active Trader or VIP Discounts Yes

Platforms & Tools

City Index offers MetaTrader 4 (MT4) alongside two proprietary platform suites: AT Pro (desktop-based) and Web Trader (web-based). All in all, City Index delivers a quality forex and CFDs trading experience.

AT Pro: As its name implies, AT Pro is not for beginners but is better suited to professionals or experienced traders because it is complex and has several advanced functions. AT Pro offers robust charting (139 indicators, 25 drawing tools) and a Development Studio with automated trading functions, including the ability to backtest potential strategies using historical data. Over 100 strategies come pre-loaded.

Web Trader: Web Trader is built entirely on HTML5, making it flexible, fast, and easy to use. While Web Trader contains almost half as many indicators as the AT Pro desktop software, it has a definite place in the City Index platform lineup for casual traders.

Research

Overall, City Index delivers high-quality market research that scores well above the industry standard. Highlights include Trading Central, news headlines from Thomson Reuters, an economic calendar powered by FXStreet, and AutoChartist for MetaTrader.

Mobile Trading

The City Index mobile app is not industry-leading but is competitive with most other multi-asset brokers such as IG, CMC Markets, and Saxo Bank. The app is cleanly designed and bug-free, making for a smooth experience whether you are adding alerts, depositing money into your account, reading news, or placing trades.

Mobile tools: Charts are powered by Trading View charts and comes loaded with 74 indicators available for charting, and you can carry out fundamental technical analysis with trend lines. Trading Central is also well-integrated into the City Index mobile app, with several modules available, including the Technical Insights, Featured Ideas, and Analyst Views sections.

Customer Service

To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2020 Review, 330 customer service tests were conducted over six weeks.

Results

  • Average Connection Time: 1 – 2 minutes
  • Average Net Promoter Score: 7.6 / 10
  • Average Professionalism Score: 7.9 / 10
  • Overall Score: 8.0 / 10
  • Ranking: 10 th (22 brokers)

Final Thoughts

Through its offerings in Europe and Asia, City Index provides multiple options for traders to access global markets, including 65 spot forex pairs, 15 forwards, and over 10,000 CFDs on several trading platforms. The broker caters well to all traders regardless of experience level. City Index finished Best in Class across six categories in 2020, including Overall, Offering of Investments, Commissions & Fees, Research, Education, and Beginners.

About City Index

Founded in 1983 in the United Kingdom, City Index has grown to become one of the leading multi-asset brokers in London, and in 2020 was acquired by GAIN Capital Holdings (NYSE: GCAP), the operator of FOREX.com. It’s worth noting that staff at FOREX.com’s UK office cater to clients from both businesses (which share the same offices).

City Index has over 30 years’ experience providing traders with Contracts for Difference (CFDs) and spread-betting derivatives, and further expanded its forex offering with the acquisition of IFX Markets, Finspreads, and FX Solutions years before GAIN Capital acquired the company. Read more on Wikipedia about City Index.

City Index Trading Features

Feature City Index
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No
cTrader No
Charting – Indicators / Studies (Total) 139
Charting – Drawing Tools (Total) 25
Charting – Trade From Chart Yes
Watchlists – Total Fields 18
Order Type – Trailing Stop Yes

City Index Research Features

Feature City Index
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars No
AutoChartist Yes
Trading Central (Recognia) Yes
Delkos Research No
Social Sentiment – Currency Pairs Yes
Economic Calendar Yes

City Index Mobile App Features

Feature City Index
Android App Yes
Apple iOS App Yes
Trading – Forex Yes
Trading – CFDs Yes
Alerts – Basic Fields Yes
Watch List Yes
Watch List Syncing Yes
Charting – Indicators / Studies 74
Charting – Draw Trend Lines Yes
Charting – Trend Lines Moveable No
Charting – Multiple Time Frames Yes
Charting – Drawings Autosave No
Forex Calendar Yes

2020 Review Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers over a five month time period. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

«There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.» Learn more.

City Index Reviews

79 • Average

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Reviews 79

One of the best MT4 broker

Good spreads and options contracts. City Index is one of the best MT4 broker.

If you have put in the work in trading…

If you have put in the work in trading and not getting the necessary results, its time to get a professional or have someone look at your account for errors including possible losses. I always have recovery kapital check my accounts if I lose money and get them back if I can.

Good platform with useful tools and…

Good platform with useful tools and quality market analysis.

Good broker

I’ve been trading for years and in that time have tried several brokers, but always find myself returning to city index. All I want from my broker is fast, reliable trade execution and prompt payment processing, so no complaints from me.

City Index data Breach

Having closed my account with City Index five years ago I was surprised to get an email from them on Friday 8 May 2020 telling me that there had been a data breach on 14 April and my bank details may have been disclosed. The fact that they still held my details after five years is disturbing, It is also interesting that it took about three weeks to tell me about it. Going to look into taking legal action over the keeping of my data for that long.

This is one of best broker I have ever…

This is one of best broker I have ever use , keep using it , you can contact me through my profile

I was missold CFD as a novice wanting to buy shares. Be careful.

As a novice, I signed up to this with the intention of buying shares in a particular company, and specifically mentioned this, as well as my zero level of experience when calling their customer support helpline and being put through to a broker agent. Even after joking with the broker about my clueless nature of the share buying market, and needing all the help I could get, I was quickly led to CFD trading, and I as a novice bought into this thinking I was buying shares. No explanation was given as to the difference between CFD and shares, and only a month later after further research from other sources, did it become apparant that I had in fact signed up to a betting site, placing bets on the margin movement on share prices with a line of credit.

I’m rather annoyed by this. I feel like my inexperience was taken advantage of just so a broker could get some quick commission from me, as people who trade CFD will be buying trades and stopping trades more frequently due to the market’s short term nature, and as a result they get hit with more charges.

The only way out of this is to ensure my CFD get’s back into the black. Close out my open trades and reinvest that money on a different share buying platform, specifically for the purchase of shares, and not CFD trading. I’m just fortunate I entered City Index with the bare minimum amount of money possible under the philosophy of ‘spend only what you can afford to lose’, so any losses I accrue on a negative close out, won’t sting too much.

I do actually see how you can make money using CFD, but City Index really should push this on more experienced traders, and as a matter of ethics should not push this on novices.
My advice; If you want to invest and you are a rookie, and you decide to use this company, steer clear of CFD and make that statement clear to the broker that you don’t want CFD when you call the »helpline».

To quote that common question »Have you been missold PPI?».
Well thanks to City Index, I was missold CFD.

I give this rating 2 stars, only because the graphical data in front is easy to understand and it helps when monitoring share price movements, and the movement of money is quick. But really, that is the only good things about them.

City Index Review 2020

Regulated By: ASIC, FCA, MAS

Foundation Year : 1983

Headquarters : Park House, 16 Finsbury Circus, London, EC2M 7EB, UK

Min Deposit : $100

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Latest Tweets by @CityIndex

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Екілік опциялар брокерлерінің рейтингі 2020:
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