Broker reliability if often judged by some basic parameters like regulation, the parent company, and the client feedback. Besides this, one must also consider the technology being used to protect your funds and wallets. You should always do your own due diligence before you start trading with any platform.
Commission and Fees
We were delighted to hear your experience with FOREX.com has met your expectations and hope you continue to enjoy trading with us going forward. City Index provides mobile trading apps for iOS and Android, allowing you to access your account from anywhere you are in the globe at any time. These applications offer secure 24-hour account access, live charts, and prices, as well as an integrated Reuters news feed and an economic calendar. You can place and manage trades by using mobile trading applications. City Index offers an excellent fit for new and mid-level traders seeking excellent research, solid education, reliable customer service, and a broad range of competitively-priced markets.
Benefit from attentive customer support
- There is a back testing excel tool that allows you to test trading signals performance over historical data.
- The various different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
- The broker acts primarily as a market maker, like most European CFD brokers, raising conflict of interest issues.
- I would say City Index is more suitable for anyone outside the USA who wants to trade or invest in instruments other than forex.
- For a beginner, it is necessary to do some research on the authenticity of any broker that you may be considering.
- City Index also offers Self-Managed Super Fund (SMSF) accounts, Corporate and Trust accounts, and joint accounts.
We do not provide financial advice, offer or make solicitation of any investments. The “Premium Trader” account is an invitation only private retail account that comes with a priority service. It also has competitive pricing, negative balance protection with the added benefits of a relationship manager, invitations to premium events and dedicated broker assisted dealing. The City Index economic calendar is fully customisable and can help to show the possible impact of key news releases to help plan your trading strategies around.
Inactivity Fees
Clients can purchase metal bullion like gold or silver bars and rare coins through a collaboration with CoinInvest. Historically, these assets have provided a haven for wealth through turbulent economic periods. As a result, many experts believe that diversification into precious metals is an essential part of any portfolio. City Index is far from a standard forex and CFD broker and surpasses many competitors in its diverse range of financial products.
Cityindex provides the opportunity to make extra Income and it’s for real.
City Index is a brokerage that specializes in CFD trading, spread betting, and Forex trading. Investing in CFDs involves making price bets as to whether the opening and closing prices of an underlying asset or security will rise or fall. Spread betting is betting on the price movement of an underlying security or asset without actually owning the security or asset. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker.
Trading Instruments Comparison
They are focused on educating traders with up-to-date market knowledge, technical analysis and trading guides. City Index enables you to practice on demo accounts and enjoy almost zero commissions. The minimum deposit requirement is as low as 100$, which is very reasonable when compared to their direct competitors. City Index is an award-winning financial broker based and regulated in the UK.
About the Editorial Team
They accept traders from across the globe, excluding Singapore, New Zealand, Belarus, Iran, Yemen and some countries from the OFAC list. Luke Jacobi is a distinguished professional known for his role as President at Benzinga, a renowned financial media outlet. With a background in business operations and management, Luke brings valuable expertise to his position, overseeing various aspects of Benzinga’s operations. His contributions play a crucial role in the company’s success, ensuring efficiency and effectiveness across different departments. Prior to his role at Benzinga, Luke has held positions that have honed his skills in leadership and strategic decision-making.
Online chat is available to new and prospective clients, but users need to „talk” with an annoying chat robot before getting to a human customer representative. The broker accepts support questions through phone, chat, or email, and a fairly strong social media presence is used primarily to distribute research and marketing materials. The help and support FAQs are well-organized, allowing for quick retrieval of needed information. The broker offers fixed spreads for many indexes and commodities and variable spreads for forex and other markets, but read the fine print because this categorization isn’t intuitive. It is worth noting that there is no negative balance protection on this account.
There is a total of 90 technical indicators on City Index to choose from. With City Index, you can keep yourself self-educated via Reuter’s updated financial news. Besides city index review this, they have an analysis report generated by City Index’s research team. Overall, the broker has a comprehensive range of research resources at your disposal.
Spread betting is also available on shares, with the previously mentioned spreads as low as 0.1% on UK shares. Clients of City Index can spread bet on 65 global forex pairs with spreads as low as 0.5 points. Despite the numerous positive aspects, there are some minor improvements that can be made. City Index do charge inactivity fees and don’t provide swap-free accounts for Muslim traders. They also cannot accept clients from some countries including the USA and do not provide 24/7 support.
To close your City Index trading account, you need to contact the client management team. Before the account can be closed, you need to answer two security questions that you set up prior to verifying your identity. After providing this information, City Index will proceed to close your account. City Index has a Training https://forexbroker-listing.com/ tab on its website that offers educational resources for traders at all levels. Based on what assets or products on-the-go traders want to keep up with, the mobile menu allows alerts to be managed and customized. The broker offers both fixed and variable spreads depending on the specific market being traded.
Wire charges will typically take three working days, while card withdrawals may take up to 10 business days or longer. Our reviewers found City Index’s overnight rates to also be competitive. As they are based on the benchmark regional interest rate +/-2.5%. City Index boasts over 35 years of experience, as the company was established in 1983 in the United Kingdom. Since then, the broker has opened additional offices in Sydney, the UAE, and Singapore. This set of common questions will provide answers and solutions for most issues.