CityIndex Review
Founded in 1983, the CityIndex online 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 in the UK and worldwide. In 2015, CityIndex was bought by GAIN Holdings, one of the global leaders in online trading and currencies exchange. With over 800 staff and offices 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 broker 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 had 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 -Why Crypto?
Cryptocurrencies offer an exciting trade opportunity with high volatility and a variety of digital coins.
Let’s start this CityIndex review with the most important; You are looking for a solid broker where you can invest in Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple, as well as other cryptos. 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%.
Top 5 Reasons to Trader Choose CityIndex
|
✅ Go long or short Profit from rising and falling prices by going long or short on cryptocurrencies |
✅. Higher volatility Take advantage of Cryptocurrency volatility without owning underlying |
|
✅. Competitive pricing 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 Buy Bitcoin, Ethereum and other cryptos. Go long or short of taking advantage of volatility, |
✅. Tax-efficient trading No Capital Gains Tax or UK Stamp Duty on profits* |
? Trade 12,000+ Markets
? Actionable trade ideas
? Award-winning platform
✅ Trade anytime, anywhere
CityIndex Review – Trading Platform Features
CityIndex trading platforms are quite advanced and offer advanced features required by experienced traders.
When working on this CityIndex review, we had a Customisable chart with 16 different chart types and 80+ indicators designed to help perform technical analysis. In addition, the CityIndex research portal highlights trade ideas using fundamental and technical analysis, and you can trade crypto anywhere.
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 an 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 the Advanced Web trading platform and were completely satisfied with it. Even if you are new to online trading, you can buy Ethereum and Bitcoin immediately after authorising your account.
Top 6 Reasons to Trade with CityIndex
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. Webinars, live sessions, educative ebooks, tutorials, and hundreds of trading tips and weekly market updates help traders make wise trading decisions. In addition, technical knowledge on how best to improve trading is available for amateur and advanced traders. Interestingly, they organise free sessions in their office in London. This CityIndex review won’t be complete without emphasising how much this online broker invests in its members’ education.
?. Good customer service. CityIndex offers 24 hours customer support, including a telephone line and support email address for a trader in over 20 countries. There is also a live chat with the support of over 10 languages.
? Premium Account types. CityIndex offers traders regular accounts and a VIP account. The VIP account offering traders more features and also preferential treatments. You can only get a VIP account with an invite, and the CityIndex VIP account team members must do it. These regular accounts include; the demo account, the standard account, the mini account, the micro account and managed account.
? Deposits and withdrawals. CityIndex broker offers traders the option to deposit their funds through credit cards or direct bank transfer, and the minimum deposit amount is $100. You can also withdraw funds via bank transfer or credit card transfer from the CityIndex, and $50 is the minimum withdrawal amount.
? Multiple language support. CityIndex offers traders over 10 languages. Some of them include Spanish, German, English, French and a list of others.
? 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.
? Trade 12,000+ Markets
? Actionable trade ideas
? Award-winning platform
✅ Trade anytime, anywhere
How to Open an Account with CityIndex
As we already mentioned in this CityIndex review, various regulatory agencies, including FCA in the UK, regulate the company. 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 a 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, you will get a confirmation email that you have to verify. Once it is confirmed, you can make deposits through bank transfer, credit card transfer or Payoneer.
CityIndex 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. 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. However, this VIP account can only be opened by invite. Therefore, members of the VIP team will have to offer you an invite before getting this account.
Although the criteria for an invite are not mentioned, most people believe that it depends on the total number of trades you carry out and the amount of money in your account. However, when working on this CityIndex review, we were impressed by the company’s customer service and support.
CityIndex Fees & Charges
When working on this CityIndex review, we made a $100 minimum deposit required for all CityIndex accounts. 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 Free demo account for trading and a virtual balance of up to £2,500.
Traders will find it interesting to know that they can download the trading application with Android or IOS devices. At the time of this CityIndex review, the company also offered traders access to videos and webinars to help them understand how to trade fully. These webinars are available for both amateur and professional traders. To ensure the security of funds by the development team of CityIndex, traders’ funds are stored in isolated accounts in top banks in Europe.
Customer Feedback
No compensation investment scheme will protect traders if their funds get stolen or disappear. Unfortunately, this is the only concern most customers or traders using this platform have.
However, all clients’ funds are kept in a segregated account, so your money is protected.
CityIndex Review – Pros and Cons
? Pros:
- 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.
? Cons:
- Does not offer traders’ any bonus
- Compared to other brokers, it offers limited payment methods.
- Inactivity Fee
CityIndex Review – Our Verdict
So we completed the CityIndex review and considered this online broker one of the best on the market. 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 an 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 the CityIndex research portal and execute trades on multiple platforms and devices. It also offers fast, easy payments and secure withdrawals.
Best Online Broker for Beginners
FREE Practice
? Largest Online Broker
? Social Trading Platform
✅ Zero Commissions
?? US Clients Allowed
Open Free Account Now
FREE Practice
? Trade 12,000+ Markets
? Actionable trade ideas
? Award-winning platform
✅ Trade anytime, anywhere