Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk.
All trading involves risk and losses can exceed deposits.
City Index is the brand name of GAIN Capital who are known in financial circles around the world, and are also listed on the New York Stock Exchange. In terms of the broker standing in the sector, City Index are one of the cornerstone names in the entire industry, having been around since 1983.
With such a long track record, it is no surprise then that City Index have become a go to destination for many experienced traders seeking an operation that is as safe as they come, with regulation in the form of several top-tier bodies.
Still the broker continues to evolve and presents an equally excellent place for newer traders to grow in the industry thanks to a very competitive, low-fee environment with a top selection of asset to choose from.
- Regulated by the FCA and Other Respected Regulators
- Over 110 000 Traders
- Large Pool of Assets to Choose From
- Very Competitive Low Spreads and Fees
- Great Proprietary Trading Platforms
- No USA Investors Permitted
- High Inactivity Fees
- MT4 on Available on Desktop
- Limited Cryptocurrency Offerings
Having been around the industry for so long, you can take it as a given that City Index provides one of the most transparent, and trusted trading environments in the entire industry. This is well-illustrated not only by the fact that the parent company of the broker, GAIN Capital Holdings is well-respected and listed on the NYSE, but that also the broker themselves have top-tier regulatory oversight in place.
This regulation comes from the FCA in the UK, ASIC in Australia, and MAS in Singapore. These are all very well-recognized and much trusted bodies who oversee operations of many of the top forex brokers worldwide.
You can expect that the broker provides negative balance protection, and utilizes segregated accounts at top banks as standard. Along with the presence of excellent, international regulation, if you are a UK or EU based trader, then you will also be protected by the ICF (Investor Compensation Fund). This can provide up to £85,000 to cover losses as a result of serious financial problems or other issues should they arise at the broker. In the many years they have operated though, City Index has always showcased a great record in terms of both regulatory compliance, and financial stability.
As a CFDs broker, City Index provides for an excellent range of assets across various markets. If you are trading in the forex market, then you be pleased to find a total of more 80 forex currency pairs available. This includes a selection of major, minor, and exotic pairs. Also available for trading are more than 20 indices from around the world, commodities, ETFs, Bonds, and 8 total cryptocurrency assets.
This is all in addition to more than 4,500 CFD assets in stocks from companies listed on exchanges around the world. The leverage available on each asset varies depending on the account type you choose to open, and the asset you are trading, with a maximum of 30:1 available to most who are forex trading in major pairs.
Commission & Fees
One of the best performance areas for City Index is when it comes to the fees and commissions they charge. They pride themselves on being a largely commission-free broker. If you are trading forex, or any other CFD with the exception of stocks, then your trading will be commission-free, with fees already built into the spread which typically starts from around 0.6 pips or 1 pip in major forex markets.
Trading stocks, you will find a City Index commission charge, though this is one which generally continues to remain very competitive. The commission charged on stock CFD trading at the broker typically ranges from between 0.08% to 0.2% depending on the asset, with a minimum commission of $10 or equivalent currency to be charged.
With other fees at the broker, deposits and withdrawals are generally maintained as fee-free as possible. There is however an inactivity fee in place if you have not traded for more than a year. This fee will be £12 per month after a non-trading period of a year, and is a little high compared to some other major forex brokers.
The broker have multiple top choices available when it comes to making your selection of trading platform. If you want to download and have a desktop trading platform, then you will have the choice of the well-respected Metatrader 4 which provides a very robust trading platform experience and a wealth of additional charting tools and indicators. You will also be able to download the AT Pro platform from City Index which is an excellent choice if you are seeking more visuals and an increasingly in-depth trading experience from a research perspective.
If you prefer to trade within your browser, then you will want to choose the City Index web trader which has recently been upgraded and is in fact award-winning. It will give you a fully comprehensive trading experience with access to all the tools you need, along with a host of analytics and very fast execution capability. It is a highly customizable trading platform that can be adjusted to fit your needs, and it provides an excellent trading experience both in terms of the HTML5 visuals, and the actual trading performance. With this trading platform, you lose nothing in capability terms when compared with any desktop counterpart.
On mobile, you can look forward to more proprietary choices from City Index with their own mobile trading platforms available on both Andros, and iOS that provide for a fully functional trading experience on the move, with as much detail, and the same range of great features as found on your webtrader.
City Index customer support is well provided for. The team is available on a 24/5 basis through several mediums. These are a web-based live chat where you must first navigate through a couple of robot-powered questions to speak with an advisor, email, or phone which you can access through a variety of different numbers to suit your local area.
The support team provided a fast and professional response when questioned, and the broker also makes a well-stocked FAQ section available on their website at all times. This should help to answer any of the more commonly asked questions you could have.
The City Index educational section of their website hosts a strong range of content to keep you developing as a trader. This includes access to a good range of “how to “ articles, aimed at getting you started, while there are also video tutorial available in areas like using your trading platform, and dedicated sections depending on whether you are trading CFDs, forex trading, or spread betting. Webinars are also periodically available through the broker in what is overall, a good offering for those getting started, while more experienced traders may find more benefit within other areas of City Index.
Overall, City Index offers an excellent trading experience, backed by many years operating in the industry. From trusted regulation, to an excellent and low trading cost, and a variety of both excellent proprietary trading platforms, alongside one of the best third-party options, there should be something for everyone at City Index.
The range of available assets is also superb, as is the support put in place for newer traders with a very simplified, and user-friendly approach which is also adaptable to become more in-depth and insightful for the more experienced. They have evolved over almost 40 years in the industry, yet still remain a great choice as one of the best forex brokers around.
Accepted Countries: Canada, Singapore, United Kingdom.
Prohibited Countries: Rest of the World