Like with CFD traders, you will be able to use a guaranteed stop loss when using the City Index trading platform. Traders in Australia can also choose the RAW FX account type which has low commissions starting from just USD 5 or AUD 6 while Singapore traders have the option of a DMA account. With a minimum deposit of $25,000, this trading account would really appeal only to premium traders. Both accounts have no commissions with spreads from 0.5 pips, the only difference is the trading platform you use. They offer a range of tutorials and videos for beginners who want to learn how to trade from the start.
Is City Index Commodity Trading CFDs, Spot, DMA or Futures?
- CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
- With a minimum deposit of $25,000, this trading account would really appeal only to premium traders.
- We have over 20 years of experience when it comes to trading online so we know what to look for.
- All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor.
- With more than 400 employees worldwide, City Index has more than a million customers and has won several industry awards, including Best Spread Betting Provider in 2021 from Shares Magazine.
- I often do this if there is a price level I am waiting for or a particular setup and I do not want to hang around watching charts all day and night.
When setting up the account, we found the opening process to be easy and straightforward. City Index offers a multi-currency deposit solution and can accommodate 9 base currencies (EUR, GBP, USD, CHF, HUF, AUD, CHF, JPY, PLN). Deposits on City Index CFD accounts start from as little as $150 (although $2,000 is their recommendation) and there are no funding costs with most methods. The standard MT4 platform is also available for traders to use on their web browsers using WebTrader.
City Index adds PayPay as a deposit and withdrawal method
- The broker provides clients with a large collection of educational materials to improve their trading knowledge and skills.
- TopBrokers.com would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
- The first is that CFDs quote in pips while when spread betting, the quote is in points.
- However, no brokers are without their downsides and City Index is no different.
- We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
I found them to have an excellent selection, up there with what Markets.com have available. Market events can be tracked using the broker’s news monitor, economic calendar, and the Week Ahead reports. There are also opportunities to gain valuable insights into market sentiment by tuning in to webinars which take place on Monday and Friday where experienced traders share their view on market trends. The MetaTrader MT4 platform is the cornerstone of City Index’s automated trading offering. It’s hard to find faults in one of the world’s most popular trading platforms which has been offering systematic traders everything they need for many years.
City Index Demo Account
Overnight financing rates are also inline with what you would expect 2.5% over/under SONIA rates. Always advertising on billboards in the City, always having a colourful client base, always being bought and sold at the whim of billionaires and bigger boys. Back in the good ol’ days, you could open an account and put on a million-dollar trade over the phone with no ID, no deposit, and no idea.
City Index Minimum Deposit
In Singapore, the broker is regulated by the Monetary Authority of Singapore (MAS) and accepts clients across most of Asia. To help prevent negative balance protection from needing to be activated, a margin call system is also used. When your margin indicator level drops below 100%, you will be notified by email to top up your account balance or close some trading positions.
Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets. City Index works with a spread-based arrangement on most of its tradable instruments, and doesn’t charge commission. Spreads are quite competitive in comparison with other brokers, starting at 0.5 pips on major forex pairs. All City Index’s trading platforms offer a range of features, allowing us to stay up to date with market movements.
City Index is a well-regulated broker that offers its customers access to over 12,000 markets across forex, indices, shares, commodities and – in limited countries – cryptocurrencies. BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing. City Index Trading Review provides a range of trading platforms including WebTrader, MetaTrader 4, and mobile apps, catering to various trading needs. Moreover, the trading platform has regular supervision of electronic trading systems.
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the https://traderoom.info/city-index-forex-broker/ research team. City Index trading fees are both fixed and variable spreads depending on the market.
The demo account is separate from the live platform, and traders can’t toggle back and forth between the two platforms. City Index offers trading on CFDs for indices, shares, forex, cryptocurrencies (not in US/Canada), and other markets. Trade 20+ commodity markets, gain experience to geopolitical events, and enjoy competitive spreads starting from just 0.06 pts. Capitalize on global market volatility by trading top commodities like crude oil, gold, and natural gas through spread bets or CFDs. The City Index’s own mobile trading platform is very well designed and user-friendly. It can be a good mobile trading app for beginners as it has tutorials and demo instructions that teach you how to use the app.
Should your required margin fall below 50% a margin, closeout will be activated. At this point, the broker will automatically exit some trading position till the threshold is no longer crossed. Our team of experts felt the obligation to provide our readers with additional information on the guaranteed stop-loss order. Additionally, there is an app available on iOS and Android, ideal for on the go trading. This large range of instruments opens City Index up to a larger customer base, and makes it easier to diversify our portfolios.
The broker acts primarily as a market maker, like most European CFD brokers, raising conflict of interest issues. However, they offer central clearing on “certain markets” as a free service that requires an additional client application. We appreciate that you took the time to review us, and hope you continue to enjoy trading with us.
The MetaTrader 4 (MT4) trading platform includes a plethora of built-in capabilities that are supplemented by City Index’s service, support, and pricing. MT4, created by the Russian software company MetaQuotes, is possibly the most frequently used trading platform and is usually regarded as the most user-friendly. It has a short learning curve, making it appealing to beginning traders while also providing enough advanced capability for seasoned traders.
In fact, most brokers, even IG just have a bog standard list of upcoming earnings and economic announcements. But I think you need more from a trading platform these days, especially as when logged into the desktop platform the format is all off. One broker that has absolutely nailed their economic calendar is ThinkMarkets. With TM when you’re logged in you get a really good visualisation of previous data, volatility and most importantly what impact it had on relevant institutions like EURUSD. It’s a great way to see how markets have moved against previous numbers. Honestly, City Index should embed this too as it’s available from Trading Central who they have a deal with anyway.
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