City Index is one of the leading Spread Betting Brokers today offering multi-dimensional platform and 12,000+ markets in CFDs, Shares, Forex, Cyptocurrencies & Commodities. CityIndex, like many other online brokers in the market offer a demo account to practice and familiarise yourself with their platform. However, If your starting out you could consider opening a real live account, the minimum deposit required is £25. Unfortunately CityIndex Trading platform is not available 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.
Gain Capital is the parent company of City Index and in terms of regulation they are compliant to the FCA (Financial Consuct Authority, FRN 113942) and ASIC (Australian Securities and Investments Commission, AFSL #345646). Traders can be assured that their funds are in fully segreagated bank accounts separate from City Index’s personal opertaing capital.
City Index company was founded in 1982 and has long established itself as a market leader thanks to its tight spreads and customer focus. There is a lot of confusion between Spread Betting vs CFD Trading. The obvious sticking points are that Spread Betting is illegal in the Unites States and only United Kingdom and Ireland traders can enjoy Tax-Free profits. Profits derived from CFD trading are subject to Capital Gains Tax in the UK (see more for information). If You are living in Australia, EU or Canada you can still Spread bet but please look into your Tax legislation on Trading profits from Spread Betting. City Index has always maintained standard as of the most established spread trading platforms in the market serving over 140,00+ clients.
Spreads & Fees
Pros and Cons
- Voted No.1 Spread Betting Broker by UK Forex Awards
- Low Trading Spreads for FX Major Pairs
- Excellent Webtrading platform
- Most Established Spread Betting Broker- 30+ years
- Regulated bt Financial Conduct Authority
- Award Winning Webtrader Platform
- Educations Resources & Trading Insight
- Not Cysec Regulated
- Not Available for US Clients
- Only a Market Maker & STP Broker
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 majority of brokers charge a spread to their clients and that is the reason why 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’s spreads stacks against the combined average spreads of all other established 50+ brokers featured on ekzaga.
City Index hаѕ two diffеrеnt рriсing mоdеlѕ – fixеd spreads аnd flоаting spreads, аlѕо known tо аѕ (vаriаblе ѕрrеаdѕ). Users should note that comparing spreads is only noteworthy when wither scalping, holding many positions and invoking on intense day trading. City Index being well known for being UK’s top spread betting broker has always maintained market advantage when it comes to low spreads.
As you can see City Index’s forex trading spreads are better than the average line of spreads amongst its competitors. However one thing to note is that if your looking to start trading with a spread betting account; its vital to look closer when comparing it City Index’s DFT (Daily Funded Trade) for Spread Betting versus the spreads for CFD tradiing. Please remember Spread Betting is advantageous to those traders living in the UK as Spread Betting Profits are free from CGT (Capital Gains Tax). CFD profits are subject to tax. The above illustration is only a comparison between spreads on CFD instruments versus industry competitors. Forex example, Trading USDJPY on averafe is 0.77 PIPS but that spread can come as low as 0.5 PIPs where it’s very enticing for Day Traders that place multiple trades (on avearge 10 plus). If your are looking to Trade eurusd, usdjpy or crude oil then you will be paying less for your spreads.
|Instruments||DFT (Spread Betting)||CFD Spreads|
|Eur/Usd||From 0.6||From 0.6|
|Gbp/Usd||From 1.1||From 1.3|
|Usd/Jpy||From 0.6||From 0.5|
From the data above, you can see the maginal difference between spreads for certain forex currency pairs. The major deviation of spreads between spread betting account and CFD’s is only at 0.1 pips for Forex Major Pairs (these include eurusd, gbpusd, usdjpy etc.) and Forex Minor Pairs (these include eurjpy, eurgbp, gbpjpy etc.). However, there are major spread differences if your looking to trade exotic pairs. Although, City Index dos not offer scalping facilities via their various trading accounts. If you are looking to day trade (i.e. place more than 10+ trades per day) you can easily benefit from their tight spreads offering.
Spread vs Trader Style
- Intraday Trading- <10 Trades
- Intraday Trading- 10+ Trades
- Swing Trading
- Long Term Trading
|City Index||XTB||Plus 500 |
|Overall Trust Score||A+||A||A-|
City Index offers several popular trading platforms to use for trading through a City Index trading account. The platform is supported by Advantage Trader. New platforms include AT Pro, Advantage Web Trader, Mobile trading applications and MetaTrader 4.
Advanced Webtrader Platform- City Index provides its individual trading platform, Advantage Web Trader, which includes a fully customizable benefit and a diverse range of intuitive tools allowing depositors to make the most of their trading operations. Advantage Web Trader offers a host of features and allows you to trade 24/7 on thousands of ETF and CFD markets in 37 major and minor currency pairs. Web Trader platform is web-based and offers easy and secure access to thousands of trading markets for ETFs and CFDs, including stock markets, indices and currencies
AT Pro- The latest downloaded download platform provided by City Index is At Pro, which provides traders with a complete original level of features and special features that enable speed, reliability and graphics. Pro enables fully automated trading with integrated strategies and algorithms, a complete graphical package and legacy tools like At Pro Development Studio, which depositors can use to code their individual trading systems, increase the power of the connection and speed up transactions.
Mobile Apps- The City Index is also accessible by using mobile apps developed for iPhones, smartphones, Blackberries, androids, tablets, iPads and other portable mobile devices. The mobile trading application allows traders to complete access to their trading accounts and the functionality of the City Index trading platform.
MT4 Download- The City Index trading platform allows customers to download and access the popular MT4 trading platform, quickly becoming the standard for the forex industry. With its easy-to-use interface and extensive range of trading tools and marketable assets, Metatrader4 is one of the most widely used trading platforms in the world.
As one of the world's largest dispersed betting companies, you will find here many features that other brokers do not have. For example, here you will find mobile trading platforms for various devices, including the iPhone (City Trader Pro), Android and Blackberry.
The City Trader iPhone application gives customers full access and flexibility. Applying spread bets can be downloaded for free from the Apple App Store and allows you to open / close trades, view market prices, use charts and technical data, edit stop-losses, limited orders and OCOs, summary of your account (including margin requirements, income statement, transaction history, and watch lists). You can also receive live news feed from Dow Jones and Reuters on your iPhone.
- MetaTrader 4
- MetaTrader 5
- Android App & Tablets
- Apple App & Tablets
Account Types Offered
Deposit & Withdrawal
To open and start trading with a live account a minimum deposit of £100 is required. The traditional methods of deposits are provided by City Index Broker e.g. Credit Cards, Debit Cards and Bank Transfer. There are ✔ No Deposit Fees payable by these methods other than your credit card provider charging an internal fee for depositing.
- A maximum of three cards can be registered for deposit
- You can only deposit in the base currency of the account you have chosen to fund from
- ✔ No Withdrawal Fee. The minimum withdrawal is £50 and the maximum is £20,000
Withdrawal periods are 3-5 days for Cards. Few Credit Card Issuers like MasterCard and Visa do not accept withdrawals (please check with your provider). However, it takes 1-2 business days via bank transfer and one day if your bank is subscribed to faster payment service.
Client Fund Protection
It is important to pay attention to the fact that the FCA have been cooperating with GAIN Capital UK Ltd (City Index’s Parent company) for more than 15 years.
The regulatory oversight оffеrеd bу the finаnсiаl regulatory аgеnсiеѕ give traders the реасе оf mind thаt their money iѕ safe with thiѕ brоkеr. In аdditiоn, as a rеgulаtеd broker undеr the FCA, traders’ fundѕ аrе protected undеr a compensation scheme known as thе Finаnсiаl Sеrviсеѕ Cоmреnѕаtiоn Sсhеmе (FSCS) up to a max of £50,000 per person in the event the broker became insolvent.
- Visa Debit
- Visa Credit
- American Express
- Bank Transfer
- Diners Club
- Western Union
City Index has a full comprehensive support section to aid traders on how to operate their trading platforms. For beginners who are undecided on what method to trade via (Forex CFD Trading vs Spread Betting) all questions are answered in theor FAQ section. Tо fullу ѕuрроrt thеir trаdеrѕ, City Index hаѕ made itѕ ѕuрроrt team аvаilаblе on a 24 hоurѕ a dау bаѕiѕ 5 dауѕ a wееk frоm Sundау to Fridау night.
Important point to note is that City Index offers exclusive accounts to tradeing account offerings to traders in certain countries so some can enjoy higher leverage. As CityIndex has offices in UK, Singapore, Middle East & Australia they have different leverage offerings. Asutralian Citizens can benefit from 200:1 leverage on Forex Major Pairs Wheras UK residents are only subject to 30:1. Tis is due ESMA (European Securities and Markets Authority) regulation on EU clients.
What so unique unique about City Index?
Alongside MT4 trading platform, City Index along with many brokers like XTB (X-Trade Broker) and Plus500 has its very own unique Webtrader & AT Pro trading platform that has advanced trading features to meet the need expert traders. With its advanced features City Index has ensured that it’s very simple to navigate and use making it adaptable for individuals starting out.
- Chart Tools- When it comes to trendline analysis or multiple chart layout these are tools that will only enhance your trading experience. Charts are completely customisable and drawing precise trend lines is essential when observing price breakouts and guessing pullbacks. MT4 has always been inefficient when It comes to having accurate drawing tools.
- 360˚ Market View- Using City Index’s Webtrader & AT Pro platform you can view Market Information (Margin Factors, Spreads/Financing, Trading Hours, dealing information etc.), Related News I.e. News feed, Economic Calendar allows you to view important Fundamental news events, trading chart or multiple charts and your own personal Watchlist (i.e. you can have multiple instruments listed).
- Smart Trading- The ‘OCO’ Click and Hedging Features are amongst the notable and standout features to mention. The 'OCO' (One Cancels the Other) feature allows a trader to place two trade simulataneously so when one triggers the other will automatically cancel. If there is a big news announcement then and you are unsure which way the market will move youcan buy and sell orders. When one triggers then the ther will automaticallly cancel hence you are not doubling your risk by placing two seperate trades.
- Education- One of the best features of the City Index online cfd trading platform is the "Learn to Trade" educational programme for beginners. This is a 4-week program that City Index offers to all new clients who activate a new cfd or spread betting trading account. In addition to trading tools, live seminars and online videos, the course also allows beginners to trade from 25 cents or 25p per PIP. This is great for beginners because it allows you to open smaller transactions with less risk and optimising their risk strategy. The special promotion of 25 points per point is a standout amongst its City Index’s competitors. In contrast, the minimum trade opening at Capital Spreads and Trade fair is £ 1 per point hence you factor this when setting out your risk management.
- Guaranteed Stop Order
- Limit Orders
- One-Click Trading
- Additional Education
- Trailing Stops
- Negative Balance Protection
- Account Verification (Identity)
- Bonuses Offered