Forex Trading
City Index Review 2024: Trade with a Safe, Award-Winning Broker

This practice involves multiple short-term positions, each with small profit margins. Scalpers may make multiple trades over the course of a day and don’t leave positions open over night. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money.

Extended Hours Trading

Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. Experienced traders who qualify can have a professional trader account on City Index. This type of account delivers credit facility as well as broker-assisted dealing and a dedicated client relationship manager. These accounts also have margin rates as low as 0.25 percent, but you should keep in mind that professional clients can accumulate losses exceeding deposits. Yes, with City Index, you can trade 24/7, although you can only speculate on cryptocurrencies during weekends.

City Index Trading Academy

  1. The MT4 demo account also comes with 10,000 demo credits, along with access to the forex market.
  2. City Index strives to offer clients a range of order types to make it possible to preprogram the price that you want to use to enter and/or exit the market.
  3. Our team of industry experts conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels.
  4. For this exercise, we used 6 major currency pairs and then averaged the spread result.

Charts are very significant to Technical Analysts because they think that historical patterns are based on human behaviour and that they frequently repeat themselves. AT Pro is intended for advanced traders who want more powerful analytical tools that are faster and more efficient. It has a completely customizable layout, allowing you to create your own customised trade templates or select from hundreds of pre-built trading templates. UK-based with over 40 years of experience in financial markets, City Index is part of NASDAQ-listed StoneX Group Inc.

Good Support Chat

City Index also provides you with extensive educational resources and market news. It’s clear that City Index has thought about the needs of both novice and seasoned traders looking for an enjoyable user experience. Beginners will be grateful for all the educational resources, free demo accounts and good customer support, which is available 24/5 via telephone or email. From what we found, City Index appears to be a great choice for traders of all skill sets. City Index’s educational materials are sure to help traders of all skill levels to hone their abilities too, something which the demo account also assists with. Unlike spread betting CFD profits are subject to capital gains tax, so are less popular among UK traders.

In addition, MT4 provides access to Expert Advisors (EAs) and custom indicators. Furthermore, you can get City Index’s high-quality research products with this account. City Index, founded in 1983, was a pioneering spread betting company in the United Kingdom.

City Index was founded by GAIN Capital and is regulated by the Financial Conduct Authority. The company is based in London and has several offices in different cities worldwide, including the UK, Australia, Singapore, and Dubai. People who write reviews have ownership city index review to edit or delete them at any time, and they’ll be displayed as long as an account is active. City Index has proven itself a global leader in CFD trading and Forex trading. Read through this review to determine whether City Index is the best broker for you.

This broker is ideal for new traders, thanks to its excellent educational resources, though all traders, especially experienced ones, will benefit from its award-winning track record. City Index’s spread start at 0.5 for EUR/USD pairs, and you can trade major indices with spreads starting from 0.3 points. The City Index range of markets includes the ability to trade up to 13,500 global markets, including commodities, forex, share CFDs,  indices and more. In the UK, Professional Trader accounts benefit from higher leverage, although you must prove that you are an experienced trader.

The broker is one of the most established and decorated that I have come across during many years in the industry. They have an impressive 35 years plus of experience, providing traders all over the global with fast trade execution speeds and tight spreads. You can trade on user-friendly platforms across multiple devices, with powerful trading tools and excellent customer support.

The demo account is separate from the live platform, and traders can’t toggle back and forth between the two platforms. The charting feature offers dozens of technical indicators and precision drawing tools. A margin calculator allows traders to calculate the cost of placing a trade. Traders can use demo accounts for up to twelve weeks, and City Index provides them free of charge. The City Index demo account comes with 10,000 demo credits and allows access to all features of the platform.

It is also one of the most well-established and reputable brokerage companies operating today. Meet Thadeus, a trading guru, brilliant writer, and financial fanatic with years of expertise in the industry. With Chasing Returns’ in-depth Performance Analytics tool, you can track your personal trading performance and find your most productive trading behaviours. Analyze your trading tendencies, best and worst deals, top-performing markets, and much more. City Index’s best execution policy ensures that all trades at City Index are executed as quickly as possible. If the price falls in your favour while your order is being processed, City Index will execute it at the lower price.

However, average pricing and a limited MetaTrader offering hold City Index back from competing with the best forex brokers. City Index charges a back-to-base currency conversion charge on trades requiring currency conversions, which can be up to +/- 0.5% of their quoted prices or rates. MetaTrader 4 (MT4) is also an option for traders comfortable with the industry standard. The main benefits of MT4 consist of a vast selection of Expert Advisors (EAs) developed for algorithmic trading and numerous custom technical indicators generated by users.

Regardless of location, commodities spreads are from 0.06, shares have spreads from 0.1, and cryptocurrencies have spreads from 0.8. Additionally, professional traders with City Index receive loyalty rewards, such as premier hospitality invitations and other rewards. There is extra financial flexibility thanks to the credit facility, and professional traders get priority service. UK and EU residents can open an account with the UK, Australia, or Middle East office. UK and Middle Eastern accounts have mandatory negative balance protection, while Australia and Singapore accounts only offer optional risk management features. The platform also offers an extremely customizable trading experience, and some of the most intelligent trading tools you will find.