City Index Review: Pros & Cons 2024

por admin1207 / miércoles, 28 junio 2023 / Publicado en Forex Trading

The educational material encompasses a broad range of topics from lessons on how CFDs work and a trading strategy course that is valued at over $5,000. While you can bet on the same products as you can trade with CFDs, there are some differences to note between CFDs and spread betting. The first is that CFDs quote in pips while when spread betting, the quote is in points.

City Index trading platforms and tools

With City Index, you’re free to trade your strategy of choice, in your own way.
The Web Trader platform is equally impressive and has successfully supported City Index clients for many years.
With City Index, you will find that the account opening process is very simple, and the broker has excellent Forex education and research tools.
City Index’s parent company is the massive, NASDAQ-traded StoneX Group, Inc.
Its YouTube channel has a robust archive of educational videos, but City Index offers fewer written articles than leaders in this category.
Some of the administrative fees which can be applied stand out as potentially being irksome.

Live chat workers must have a really hard job and I think a little unfair to have to work like that however, this kid was unable to connect with me at all. He said, that is your ‘opinion’ I had to explain, that was not my opinion it was how my account is set up. He also typed things like ‘you are not accepting want I am saying’ ‘it is easy to understand, I could not be any clearer’ He was claiming I did something that was physical impossible. However, average pricing and a limited MetaTrader offering hold City Index back from competing with the best forex brokers. The markets which city index review are open on weekends are those of cryptocurrencies including Bitcoin, Ethereum, Ripple and Litecoin.

Charts

This regulation means that City Index must adhere to strict guidelines and be transparent about its trading. Yes, City Index client funds are kept in segregated accounts and the broker forms part of the Financial Services Compensation Scheme (FSCS). City Index makes multiple Deposit options available including Debit/Credit Cards, PayPal, and Bank Transfers. City Index Withdrawal will be processed between 1 and 5 working days, depending on the method of withdrawal selected. In order for the account registration to be completed the applicant will be required to complete sections of personal information, including account type selection and more. With Chasing Returns’ in-depth Performance Analytics tool, you can track your personal trading performance and find your most productive trading behaviours.

Trade your strategy using a number of order types available including stop, limit, market, OCO (one cancels other) and trailing stop orders. With City Index, you’re free to trade your strategy of choice, in your own way. Access free video tutorials and trading examples to improve your skills. The tool Recognia is a leader in providing premium analysis and trade recommendations and the AT Pro platform offers over 100 automatic trading strategies.

Use a third party spread comparison tool, or alternatively click the open account button above and open a City Index demo account test spreads under live market conditions.
They offer fixed and/or variable spreads, depending on venue, but the disclosures would greatly benefit from side-by-side cost itemization.
It comes with 60+ built in technical indicators, price charts which can be set to portrait or landscape layout, and a ‘one-swipe’ trading feature which allows you to trade at speed.
Professional – A more exclusive account tailored to high-net-worth individuals.
When you open an account you gain access to an impressive educational trading academy.
It’s a great way to see how markets have moved against previous numbers.
To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.

After providing this information, City Index will proceed to close your account. The decision by City Index to provide a quality rather than low-budget service is possibly best demonstrated by the impressive levels of customer service which the firm provides. “City Index has low forex trading fees, and non-trading fees like withdrawal fees are also low. Account opening is fast and smooth and a wide range of high-quality research tools are available.

Executing Trades

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. The City Index Economic Calendar provides quick access to key market events affecting the UK, US, Australia, Japan, Germany, and France.

There is a $150 minimum account balance requirement at City Index which can be funded using a variety of options. Marko has been working on the road for over 5 years, and is currently based in Europe. Alongside writing and editing, Marko works on projects related to online technology and digital marketing.

What is the City Index commission fee?

Whatever your level of trading experience, City Index offers a wealth of training resources to help you enhance your trading knowledge and abilities. This comprises trading-related teaching videos, articles, seminars, tutorials, and practical examples. City Index’s fee structure is competitively priced and especially advantageous for active traders who can benefit from its VIP discounts. However, the average spread on EUR/USD for standard accounts is slightly higher at 1.4 compared to the industry average of 1.08, which is something cost-conscious investors should consider. 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. The broker offers central counterparty clearing on «certain markets» through the Omnibus Segregated Clearing Account (OSCA).

AT Pro comes with a powerful charting package that includes over 100 indicators and a wide range of sketching tools for market research. There is a backtesting excel application that allows you to test the performance of trading signals over past data. It also includes a customizable economic calendar, Reuters real-time news, and an analytical site that automatically monitors the markets for chart patterns based on technical and fundamental research. City Index offers over trading instruments in spread betting and CFDs trading from popular asset classes such as forex, cryptocurrencies, stocks, indices, commodities, interest rates, bonds, and options. BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs.

City Index mobile versions for iOS and Android allow easy synching between platforms, with well-organized menus but fewer features and limited customization. Account holders can set custom price alerts, build watch lists, chat with customer service, and do basic charting, but the apps don’t provide a real alternative to the standalone or web platforms. Fortunately, the order interface looks identical to the desktop and web programs, allowing adequate risk management while on-the-go. New clients get a welcome letter with key account information and an introduction to platforms to help you pick the best platform for your needs.

Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). City Index scored well in most review categories, but flaws are still evident, including confusing and conflicting options-fee disclosures, a lack of volume discounts, and no secondary insurance coverage.