This demo account will be unlimited and available to you for 12 weeks with access to more than 12,000 assets and a virtual balance of £10,000 for you to trade risk-free. You can also access the account through Web Trader, iOS and Android mobile apps, and MT4 mobile on all devices. City Index also has trusted regulation in place from top-tier bodies including ASIC and the FCA as well as MAS in Singapore making them a broker with truly global reach. City Index with their decades of experience have picked up 26 awards, and their huge asset range of 12,000 CFDs only adds to their appeal among traders. It’s specially offered when the industry volatility keeps customers from allowing their accounts go in the red. In such a scenario, City Index offers the ability to reset a clients account balance to zero.

city index reviews

If you feel that City Index is not right for you then at the bottom of this City Index review you will find a lot of alternatives to City Index. These benefits are what sets City Index apart from all other online agents. You need to check city index review all the benefits listed so you have a better comprehension of City Index. After launching in 1983, their client base has increased to 14,000+ clients. The FCA requires brokers to join their Financial Services Compensation Scheme .

City Index Reviews

When you move money into your trading account from the bank account, a deposit fee can be charged by the broker. Most brokers do not charge an excessive amount of money for this particular operation. Every online trading platform has some pros and cons City Index review would be complete without having a balanced approach. This City Index review covers both the pros and cons you need to know before you make an account.

AT Pro has a Development Studio feature with automated trading functionality for traders who want to put their accounts on autopilot. Clients can use more than 100 pre-loaded strategies and backtest them using historical data. With many more features and customization options, AT Pro is a more complex platform than Web Trader. It is geared for advanced traders who can utilize the potential behind AT Pro’s 130+ indicators and 25 drawing tools, as well as other advanced functions.

city index reviews

Tokyo has just opened and we see futures traders shorting the yen with decent volume, which suggests institutions have a bearish bias today on the local currency. This has pushed USD/JPY up to a 4-day high, and keeps a bull-flag breakout in play on the 1-hour chart. The flag projects a target around 135.50, but we’re looking for prices to retrace towards the… It goes against our guidelines to offer incentives for reviews.

Slow funds transfers

City Index trades under StoneX Financial Ltd in the UK, a subsidiary of StoneX Group Inc. City Index was founded in 1983 as a spreadbetting brokerage house. Current market prices can be found on the broker website.

CFD trading also allows you to trade on a wide range of markets, including stocks, commodities, and currencies, which allows you to diversify your portfolio. City Index is one of the longest-standing brokers in the industry. Founded in 1983, they are part of the StoneX Group, a company founded in 1924 which also has an excellent reputation in the industry. City Index is also regulated by several respected bodies including the FCA in the UK, ASIC in Australia, and MAS in Singapore.

In 2014, Michael Spencer, the founder and controlling shareholder of City Index, sold the company for $118 million. The combination created a new global firm with operations in more than 150 countries and annual trading volumes in excess of $3 trillion. In 2014, Michael Spencer, the founder and controlling shareholder of City Index, sold the company to GAIN Capital Holdings for $118 million. The combination created a global firm with operations in more than 150 countries and annual trading volumes in excess of $3 trillion. In 2001, the firm introduced CFD trading, and in 2006, with the acquisition of IFX Group, City Index entered the forex marketplace. In 2008, City Index expanded its presence in forex with the acquisition of FX Solutions.

Worst customer support ever.

CityIndex and its subsidiaries are regulated in 8 jurisdictions worldwide, including CFTC/NFA in the US, IIROC in Canada, FCA in the UK, and CIMA in the Cayman Islands. We operate in highly regulated environments, with strong oversight into trading practices and execution. We have automated every aspect of the trade process, intending to ensure your trade is executed as fast as possible at the price you expect – or a better one. They delete your bank account from their files and use “add a new account” as a pretext to withhold your money. They ask for ISBN & Swift codes, as well as regular account details.

Apart from trading charges, online agents also charge non-trading fees. These are dependent on the actions you undertake in your account. They’re charged for operations like depositing cash, not investing for lengthy periods, or withdrawals. However, this doesn’t necessarily mean that online brokers do not charge any fees. They charge fees of varying rates for various services to make money.

Commissions and Fees at City Index

This means the smallest tradable lot size is a standard lot. This could be a little much if you are a new trader so we recommend definitely practicing on a demo account first. The inactivity fee, though it does only kick in after 36 weeks of inactivity, may also discourage some casual traders.

Risk Management

This broker is suited for a wide variety of traders interested in the forex market. In this City Index review, we dive into the investment products, fees, resources, and everything else you need to know if this platform is right for you. Our primary goal at The Tokenist is to simplify the word of financial decision-making, so that investing is not only easy – but also fun. In doing so, we often feature products or services from our partners. However, the opinions and reviews published here are entirely our own. Customers are responsible for monitoring their accounts and maintaining the required margin to support open positions and avoid liquidation.

You can use debit or credit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. You must keep in mind that PayPal is not available in every place. The currencies City Index accepts for deposit are USD, GBP, AUD, EUR, NZD, CHF, ZAR, SGD, JPY, CAD.

Unlike IG where withdrawals are instant and stress-free City Index make withdrawals extremely onerous. I just sent them third e-mail, asking to close my account. I have sent them an email and told them i am not allowing you to trade against me and i am not allowing you to share my id with anyone else and tag my trades. They basically sent me a closure notice without any description. I have been using the platform for several years, on and off.

In Singapore, the broker is regulated by the Monetary Authority of Singapore and accepts clients across most of Asia. The weekly forex outlooks and forecasts published every Monday morning at 10.00 am is another insightful tool that will prepare forex traders for the week ahead. Compared to other online CFD providers, we like that City Index supports multiple order types and has the ability to program your entry and exit points. To get some of these features, you will need to be using the City Index Trading Platform.

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