|Support Number||+44 20 3194 1801|
|Support Types||Phone , Email , Live Chat|
|Languages||English , Arabic|
|Trading Platform||MT4 | Advantage Web | Mobile|
|Minimum 1st Deposit||£100|
|Minimum Account Size||£100|
|Minimum Trade Amount||1 Unit|
|Maximum Trade Amount||Depending on Account|
|Bonus||Capital at Risk|
|Leverage||Tiered from 50%|
|Free Demo Account||Open Demo|
|Regulation||Financial Conduct Authority (FCA), MAS & ASIC|
|Fee Info||Inactivity Fee|
|Account Types||Trader , Premium Trader , Professional Trader|
|Deposit Methods||Bank Transfer , Debit/Credit Card , Payoneer , Other|
|Withdrawal Methods||Bank Transfer , Debit/Credit Card , Payoneer , Other|
|Types of Assets||Wide RAnge of Markets|
|Trading Currency||Bitcoin , Ethereum , Bitcoin Cash , Litecoin , Ripple|
|Account Currency||GBP , USD , EUR|
|US Traders Allowed|
- Voted best Cryptocurrency Trading Platform
- Tight spreads, low margins and fast execution
- Easy payments and secure withdrawals
- Inactivity fee
- Does not offer any bonus
CityIndex Review- About the Company
Founded in 1983, the CityIndex broker is possibly one of the oldest brokers in the world. With headquarters in London, CityIndex has cemented its place as one of the leading brokers not only in the UK but in the world. In 2015, CityIndex was bought by GAIN holdings which is one of the global leaders in online trading and currencies exchange. With over 800 members of staff and offices located in Sydney, Dubai, London, Tokyo, New Jersey, Shanghai, Singapore and Hong Kong, CityIndex has a monthly trade volume of over $400 billion. With traders from over 50 countries of the world. CityIndex is regulated by the Financial Authority Conduct of the United Kingdom. In this CityIndex review, we will cover the main features and functionality of the CityIndex trading platform.
CityIndex offers competitive spreads and access to all global markets and asset classes which includes; commodities, shares, indices, currencies (both crypto and fiat), interest rates, bonds and others. Since its establishment, CityIndex has received numerous awards for its spread betting, forex and CFD trading platforms as well as a list of other innovative products and ideas.
CityIndex Review – Cryptocurrency Trading
Cryptocurrencies offer an exciting trade opportunity with high volatility and variety of digital coins.
With CityIndex, you can invest in Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple. One can also build a trading strategy with an opportunity to go long and short on cryptos,
For Margin Trading, the margin rates are starting at 25%. Overnight finance is available at 0.08219%.
CityIndex Review – Why Trade Crypto
Go long or short
Profit from rising and falling prices by going long or short on cryptocurrencies
Take advantage of Cryptocurrency volatility without owning underlying
Trade Cryptos as a Spread Bet from just 10p a point or as CFD Minis
Risk management tools
Safeguard your profits from volatility with stop and limit orders
Range of Markets
Trade Bitcoin, Ethereum and other cryptos. Go long or short to take advantage of volatility,
Tax efficient trading
No Capital Gains Tax or UK Stamp Duty on profits*
CityIndex Review – Cryptocurrency Trading Platform
CityIndex trading platforms are quite advanced and offer advanced features required by experienced traders.
You can have a Customisable chart with 16 different chart types and 80+ indicators designed to help perform technical analysis. CityIndex research portal highlights trade ideas using fundamental and technical analysis and you can trade crypto anywhere anytime.
CityIndex offers trading via the following platforms:
Advantage Web is a highly customisable browser-based platform designed to help you to trade the markets.
- Advanced HTML 5 charts
- Fully customisable screen layouts
- Fundamental and technical analysis portal
Advantage trading apps are available for iOS and Android smartphones and tablets.
- Secure 24-hour access to your account
- Live streaming prices and charts
- Live Reuters news feed and economic calendar
AT Pro is a desktop platform designed for advanced users who need powerful analysis tools.
- Auto-trading strategies
- Advanced charting package
- Improved speed and efficiency
MetaTrader4 (MT4) comes with an impressive array of features, enhanced by City Index’s service, support and pricing.
- Expert Advisors
- Custom indicators and trading signals
- Windows, Android and iOS platforms
In this CityIndex review, we used Advanced Web trading platform and were completely satisfied with it. Even if you are new to online trading, you can start investing in Ethereum and Bitcoin immediately after authorising your account.
Features of CityIndex Broker
CityIndex review won’t be complete without mentioning the various features of this solid trading platform. Some of its features include:
1. Educates traders. CityIndex broker focuses mainly on training traders on its platform. There are webinars, live sessions, educative ebooks, tutorials and hundreds of trading tips and weekly market updates that will help traders to make wise trading decisions. Technical knowledge on how best to improve trading is available for both amateur and advanced traders. Interestingly, they organise free sessions in their office in London.
2. Good customer service. CityIndex offer 24 hours customer support which includes a telephone line and support email address for trader in over 20 countries. There is also a live chat, with the support of over 10 languages.
3. Premium Account types. CityIndex offers traders regular accounts and a VIP account. With the VIP account offering traders more features and also preferential treatments. This VIP account can only be created based on an invite and it must be done by the CityIndex VIP account team members. These regular accounts include; the demo account, the standard account, the mini account, micro account and managed account.
4. Deposits and withdrawals. CityIndex broker offers traders the option to either deposit their funds through credit cards or direct bank transfer and the minimum deposit amount is $100. Funds can also be withdrawn through bank transfer or credit card transfer from the CityIndex and $50 is the minimum withdrawal amount.
5. Multiple language support. CityIndex offers trader over 10 languages. Some of them include Spanish, German, English, French and list of others.
6. Mobile device support. CityIndex broker application is compatible with all Android and IOS devices and traders can quickly download this application from their official website.
CityIndex – How to Open an Account
Since CityIndex is regulated by various regulatory agencies, including FCA in the UK. Every new trader must provide ID verification documents before he can begin trading on this platform. Before creating an account, potential traders should have scanned copies of their driving license, passport, National ID, bank statement or utility bill for the past three months that shows place of residence.
You will have to answer certain vital questions, the set up could take up to 10 to 15 minutes. To begin, you have to download the application from the CityIndex official website. Once downloaded, you have to present scanned copies of the documents mentioned above. You have to fill in a username, a working email address and any password of your choice.
Once you are logged in, a confirmation mail will be sent to your email address, you have to confirm. Once it is confirmed, you can make deposits either through bank transfer, credit card transfer or Payoneer.
CityIndex Review – Account Types
Besides its regular accounts, CityIndex offer traders’ a VIP account. This account comes with multiple features and also preferential rates on all transactions and trade carried out. Some of these preferential treatments involve; unlimited access to an available senior sales trader who is ready to help you trade, flexible margin rates, access to multiple VIP events and interest on cash balances. This VIP account can only be opened by invite. Members of the VIP team will have to offer you an invite before you can get this account. Although the criteria for an invite is not mentioned, most people believe that it depends on the total amount of trades you carry out and also the amount of money in your account.
CityIndex Review – Fees & Charges
$100 is the minimum deposits that must be made on all CityIndex account and $25 balance will be required for subsequent deposits. This broker does not charge any commission for CFD and spread betting, but there is a $25 commission for trading Equity CFD’s. CityIndex also offers traders’ a 2 weeks demo account for trading and can have a virtual balance of up to £2,500.
Traders will find it interesting to know that they can download trading application with either their Android or IOS devices. CityIndex also offers traders on their platform videos and webinars that can help them to fully understand how to trade. These webinars are available for both amateur and professional traders. To ensure the security of funds by the development team of CityIndex, funds of traders are stored in isolated accounts in top banks in Europe.
CityIndex Customer Feedback
There is no compensation investment scheme that will protect traders in the event that their funds get stolen or disappear. This is the only concern most customers or traders using this platform have.
However, all clients’ funds are kept in the segregated account so your money should be protected.
CityIndex Review – Pros and Cons
- There is a fast execution of transactions and trade on the CityIndex platform.
- Regulated by reputable regulatory bodies.
- Offers educational materials to both amateur and professional traders.
- Supports the trading of multiple currencies in over 50 countries.
- Quality, responsive and exceptional customer service and support in over 12 countries.
- Does not offer traders’ any bonus
- Compared to other brokers, it offers limited payment methods.
- Inactivity Fee
CityIndex Review – Conclusion
We consider CityIndex to be one of the best on the market currently. It has a long-standing history of 30+ years in spread-betting FX and CFD trading and is Authorised and Regulated by the Financial Conduct Authority (FCA) in the UK. Its trading platforms offer and intuitive design and advanced Risk Management tools to help you to hedge and protect your position. Traders can get actionable buy/sell trade ideas from CityIndex research portal and execute trades on multiple platforms and devices. It also offers fast, easy payments and secure withdrawals.
RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% 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. Capital at risk.