Pepperstone Broker review
- Extremely Well regulated
- Excellent for all types of traders
- Zero commission account
- Client funds in segregated accounts with tier 1 banks
Losses can exceed deposit
No of Users
525,000+
Min. Deposit
0
Regulation
FCA,CMB,BaFin
Max Leverage
30:1
EUR/USD
GBP/USD
USD/JPY
USD/CAD
AUD/USD
0.9
1.6
1.1
2
1.1
Spreads
-
EUR/USD : 0.9
-
GBP/USD : 1.6
-
USD/JPY: 1.1
-
USD/CAD : 2
-
AUD/USD : 1.1
Risk Warning: 73% 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
Introduction to City Index Markets
City Index is one of the leading Spread Betting Brokers today offering a multi-dimensional platform and 12,000+ markets in CFDs, Shares, Forex, Cryptocurrencies & Commodities. CityIndex, like many other online brokers in the market, offers a demo account to practice and familiarise yourself with their platform. However, If you’re starting out you could consider opening a real live account, the minimum deposit required is £25. Unfortunately, the CityIndex Trading platform is not available to traders living in the United States. However, we do have good news in that City Index’s Sister company Forex Trading Brokers offers similar trading services to traders living in the US.
Established in 1983, City Index is a leading trader of CFD, spread betting, and forex products, with customers located around the world. As a legitimate online broker, City Index is authorized and regulated by several major regulatory bodies, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC) in Australia. The company headquarters are located in London, United Kingdom but it has other offices located across the world, including Singapore and Australia. With decades of experience and millions of successful trades behind it, City Index now boasts an impressive customer base that continues to grow every day.
Thanks to a great team of traders, analysts of financial markets, and state-of-the-art systems, City Index has built itself as one of the leading multi-market global trading providers. At present, City Index has over 1 million account holders globally. City Index is backed by its parent company StoneX, which is listed on the NASDAQ. StoneX is a Fortune 500 company that has been involved in the financial markets for over 100 years. It is one of the largest retail and institutional trading providers in the world.
Risk Warning: 73% 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 You should consider whether you can afford to take the high risk as your capital is at risk.
Spreads & Fees
A ‘Spread’ or otherwise known ‘Bid/Ask Spread’ is the measured difference between the buy and sell price quoted for any trading instrument: whether it be a Forex currency pair, Commodity (Crude Oil), precious metals (Gold), indicies, Stocks and Crypto (Bitcoin). It can be interpreted as the cost of trading charged by the broker to traders.
City Index, along with the majority of brokers charges a spread to their clients and that is the reason why the majority of traders choose a broker with low spreads. Spread is reported in PIPs or known as basis points. Spreads can be calculated by spread value in pips × traded lot size.
The graphical illustration shows the comparison of how City Index spreads stack against the combined average spreads of all other established brokers featured on ekzaga.
Forex Spread is the difference between the buy and sell price of a currency pair. For example, if EUR/USD is trading at 1.1150/1.1151, then the spread is 1 pip. Th. When choosing a Forex broker, it is important to compare the different types of Forex spreads that they offer in order to find the best one for your trading needs.
Risk Warning: 73% 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 You should consider whether you can afford to take the high risk as your capital is at risk.
Spread vs Trader
- Scalping
- Intraday Trading- <10 Trades
- Intraday Trading- 10+ Trades
- Swing Trading
- Long Term Trading
 City Index |
 XTB |
 Plus-500 |
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|---|---|---|---|
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Overall Trust Score
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A+
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A+
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A-
|
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Years Established
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39+
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20+
|
14+
|
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Regulatory Authority
|
ASiC,FCA
|
FCA
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Cysec,FCA
|
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Why Choose?
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Voted No.1 Spread Betting Broke
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Most Exponential Grown CFD Broker
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Segregated Accounts
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Award Winning WebTrader Platform
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Over 525,000 Customers Trust XTB
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Powerful And User-Friendly Trading App
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Offers Low Fixed Trading Spreads
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5-Star Rating On Trust Pilot
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Superior Customer Service
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Trading Platforms
access to the Forex market around the world. In addition to Forex trading, City Index also offers mobile trading apps and web trading. This ensures that you are always one click away from your next trade. It’s also incredibly easy to use with a simple, intuitive interface so you can jump in with confidence and make informed trades. To help traders maximize their profits, City Index offers advanced charting tools complete with various indicators, drawing tools and more. Overall, City Index has a comprehensive Forex solution tailored for investors from all backgrounds.
Forex trading can be a complex task, without access to the right trading platform. City Index offers an easy-to-use Forex trading platform for experienced and novice traders alike. For mobile trades, the City Index app makes it simple to trade from anywhere using just your phone. The mobile app allows you to monitor the markets on the go. Web trading from City Index also allows you to review account details, stream live prices and use data-rich charts via their advanced charting tools with various indicators and drawing tools to aid in analysis. The City Index mobile app is extremely user friendly and really well designed. This accessibility makes the platform accessible for trader’s day and night, regardless of where they may be located. The ease of use of City Index’s Forex trading platforms makes Forex trading easier than ever before.
As well as their own web trading platform City Index also offers the popular MetaTrader 4 platform, however it doesn’t offer the Metatrader 5 as an option. City Index also offers seamless integration with tradingview platform which is becoming more popular with traders across the globe, allowing to place trades from tradingview platform. Overall the platforms offered are by City Index are very good, easy to use and navigate through.
Platforms Offered
- WebTrader
- MetaTrader 4
- MetaTrader 5
- Android App & Tablets
- cTrader
- Apple App & Tablets
Accounts Types
| Standard | MT4 | |
|---|---|---|
|
Min. Deposit |
No Minimum |
No Minimum |
|
Trading Instruments |
✓FX ✓Metals ✓Stocks ✓Indices |
✓FX ✓Metals ✓Stocks ✓Indices |
|
Commission |
Zero
|
Zero
|
|
Platform |
Web Trader |
MT4/MT5 |
|
Base Currency |
USD, EUR, GBP |
USD, EUR, GBP |
City Index offers a range of trading account types, each tailored to investors with different levels of experience. Demo accounts, in particular, are great for those just getting started because they allow traders to gain familiarity with financial instruments while not being exposed to any risk of losing any funds. City Index offers two types of accounts mainly them being the Standard account and the one being a MT4 account. The main difference between the accounts is the platform a customer would have access to. The standard account gives you access to City Index’s own proprietary platform, where as the MT4 account is the traditional and popular MetaTrader 4 platform.
Also, another important factor is the MT4 account has typically lower spreads as opposed to the standard account. Spreads start as low as 0.5 pips on MT4 account and 0.8 pips on the Standard account. Additionally, City Index does also offer an Islamic account which is different from a standard forex trading account in that Islamic accounts do not place trades overnight due to different leverage rules. Ultimately, irrespective of what type of trader you are – beginner or experienced – City Index has an account for all types of traders.
Account Types Offered
Deposit & Withdrawal
Deposit Methods
| Base Currency | Fees/Commission | Processing Time | |
|---|---|---|---|
|
Credit Cards |
|
|
|
|
Visa |
USD, EUR, GBP, CHF |
zero |
Instant |
|
Mastercard |
USD, EUR, GBP, CHF |
zero
|
Instant |
|
E-Wallets |
|
|
|
|
Paypal |
USD, EUR, GBP, CHF |
zero
|
Instant |
|
Bankwire |
USD, EUR, GBP, CHF |
zero
|
1-2 working days |
Withdrawal Methods
| Base Currency | Fees/Commission | Processing Time | |
|---|---|---|---|
|
Credit Cards |
|
|
|
|
Visa |
USD, EUR, GBP, CHF |
zero |
1 - 3 working days |
|
Mastercard |
USD, EUR, GBP, CHF |
zero
|
1 - 3 working days |
|
E-Wallets |
|
|
|
|
Paypal |
USD, EUR, GBP, CHF |
zero
|
1 - 3 working days |
|
Bankwire |
USD, EUR, GBP, CHF |
zero
|
1-2 working days |
At City Index, clients can rest assured that their funds are in safe hands as the broker employs deposit safety protocols to ensure funds are secure. Additionally, there is a client fund protection protocol where any funds deposited into a trading account are completely segregated from the operating accounts. For those wishing to fund their trading accounts with City Index, it can be accomplished through various options such as credit/debit cards (Visa/Mastercard), PayPal and bank transfers.
Notably, all these methods usually take up to a maximum of 10 minutes for it to successfully be credited in your account. Furthermore, depositing with City Index does not come with any additional fees whatsoever – leading this method to be among the most efficient ways of funding an account. In terms of withdrawals, it can also be achieved similarly through debit/credit cards or bank wires, which usually conclude within 24 hours assuming all necessary documentation and verification requirements are met prior to requesting a withdrawal. Therefore, whether depositing or withdrawing funds at City Index, clients can anticipate smooth transactions transparency, and control over their finances. Customers can also deposit funds through PayPal. There are no charges for depositing or withdrawing funds.
Overall City Index offers the conventional methods of depositing funds, in comparison to other brokers, City Index does fall a bit short here. As other brokers offer more ways of depositing funds through various other popular e-wallet service providers.
Deposit Methods
- Visa Debit
- Visa Credit
- MasterCard
- Skrill
- Bank Transfer
- Neteller
- Maestro
- Diners Club
- Switch
- Western Union
Unique Features
City Index is a top broker for traders looking for an intuitive platform and competitive spreads. From a comprehensive range of forex markets to metal-CFDs, UK stocks, and indices, City Index provides access to over 12,000 markets through its award-winning trading platform. Among its features, is its exclusive Smart Signals tool. The Smart signal tool uses a selection algorithm to automatically monitor 36 major global markets across thousands of price data points to highlight potential trading opportunities. Once it has identified a price pattern, it will then appear on the Smart signals dashboard as a trading opportunity.
City Index also offers a performance analytics tool. This tool is like a digital mentor helping traders understand your trading psychology. It gives a breakdown of all trades to an in-depth level. Traders are able to monitor discipline levels amongst a host of other factors related to trading like giving you a breakdown of trading strenthgs and weaknesses. These tools are unique and free to customers who open accounts with City Index. Plus, City Index offers webinars, video tutorials and eBooks that help beginners learn the basics of CFD trading. With its extensive trading instruments including risk management tools like guaranteed stop losses and attachable trailing stops, City Index helps ensure your investments are safe when the market fluctuates.
Customer Support
City Index offers its customers top-notch customer service on a wide range of platforms. City Index’s customer service is designed to provide customers with the help they need. City Index prides itself on delivering a high-quality experience for their customers, which includes promptly responding to any customer inquiries or complaints. City Index’s support and customer care are available from 8:00am until 12:00pm GMT on Monday through Friday.
They also provide assistance via web chat and email throughout the day, but respond times can vary. City Index’s website is available in multiple languages, including Spanish, German and Italian, which are translatable through a user-friendly interface. City Index’s customer service team supports numerous languages as well, ensuring that they can assist their customers no matter what language they speak.
Conclusion
We here at Ekzaga think City Index is a worthy choice as your next forex broker. They cover all aspects that a potential customer should look for when choosing a forex broker. They are extremely well regulated by top-tier regulatory financial bodies such as FCA and ASIC as well as many more. Client funds are deposited in separate bank accounts with top-tier banks ensuring safety of your funds. Whether you are a novice or a more seasoned trader they have an account for you. Whether you are looking for tight spreads or zero commission accounts they have both of these options covered. They offer multiple different popular platforms. They don’t charge any fees for deposting or withdrawing funds.
That being said it doesn’t offer multiple ways of funding an account unlike many other brokers. As time goes on e-wallets are becoming more popular means of depositing and withdrawing funds. City Index provides all necessary tools for trading to help traders achieve success; providing them with useful insights and access to helpful tools and resources. Choosing City Index would be a wise choice indeed whether you are a beginner just making your first steps into the world of trading or a more seasoned trader. City Index is without a doubt a very good broker.
