If this is something that you are looking for then you could consider FXPRIMUS as an alternative broker . If you want a Wire Transfer, the broker will ask you for a bank statement for the last six months. The statement must be in PDF form mention your name, bank name, account number, and residential address. In the case of withdrawals, your amount will be returned to the source you used to transfer the funds in the account.
Commission and Spread Fees
- 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.
- You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
- 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.
- Some of the educational resources provided include tutorial videos, articles, webinars, and more.
- They operate on multiple platforms and devices and are a well-established, regulated firm.
- City Index have some FAQs for help and support whilst the client services team are available 24 hours a day, 5 days a week to answer any particular questions that you may have.
This regulation means that City Index must adhere to strict guidelines and be transparent about its trading. As mentioned, City Index also has a Corporate Account which allows users to trade with company funds via several users. Compared to many other similar brokers, City Index really excels in this field.
StoneX Financial Ltd is authorised and regulated by the Financial Conduct Authority (FCA). They are also regulated by the well-respected Australian Securities and Investment Commission (ASIC) and Monetary Authority of Singapore (MAS). 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. City Index has been building its operations for decades and over that time it has gained regulatory approval from a range of financial authorities.
City Index trading platforms and tools
Use the calculator below to compare City Index’s trading costs with competitors such as Pepperstone, Eightcap and CMC Markets, adjusting for trade size, currency pair, and base currency.
Alternative Brokers
- With low minimum deposits and copy trading features, RoboForex is a solid choice.
- It has the same user-friendly functionality of regular platforms but is packed full of powerful analysis tools which can be applied to state-of-the-art price charts.
- There is a modest number of markets on offer, only 100, but each can be traded using the algorithm-based functionality of the MT4 dashboard and the much-loved Expert Advisors program.
- All in all, City Index offers multiple cross-platform trading applications, 24/5 customer support, and a variety of asset classes and products to choose from.
- An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets.
- Scalpers may make multiple trades over the course of a day and don’t leave positions open over night.
You can trade 20+ major global indices at City Index, including the UK 100, Wall Street, and Germany 40. Choose between spread betting and CFD accounts and enjoy competitive spreads on European, US, Asian, and Australian indices. Using City Index’s mobile app, you can easily set alerts and notifications to remain updated with what is happening within the platform and across the global markets. 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. Yes, City Index is a good platform for day trading as they have low spreads, access to a wide range of markets and intra-day trading signals provided by SMART Signals.
Poor Service yet again
Our support team will reach out to assist you Alternatively, to discuss your feedback in greater detail, we recommend that you contact us by phone and when connected press 9 to speak with a representative. Overall, we think that City Index is a solid forex broker which offers robust customer support channels, plenty of insightful educational materials, and a wide range of financial markets. And like CFD trading, when spread betting, there are no commission costs.
However, they also cater to experienced traders with resources about advanced strategies. Overall, this broker offers courses, webinars, tutorials, and a comprehensive FAQ section for skill development. City Index offer a selection of different trading accounts that allow for fast, easy payments and secure withdrawals. If you are primarily looking to trade currency pairs, the Spread Betting and CFD accounts will give you full access to their FX range with spreads from just 0.5 points. I found the accounts to have tight spreads, low margin requirements and fast trade execution speeds. Overall, City Index can be summarised as a safe broker that provides competitive spreads on Contracts for Difference (CFDs).
They will guide you with technical analysis and keep you updated on news of top-notch agencies like Reuters. Once you open an account with City Index, it will initiate your self-learning phase. Shortly, you will be able to make informed decisions and improve your strategies with the excellent range of provided tools. You will find they have very competitive fees and a great range of Trading Products that you can access on powerful yet user-friendly platforms for all of your desktop, web and mobile devices. Overall, I would say they are an excellent choice of broker for anyone looking to trade in a regulated environment with an established broker. The broker gives traders access to over 12,000 markets across forex, cryptocurrency, stocks, indices, options, bonds, spread betting, ETFs, metals, energies, and other commodities.
It is regulated by top-tier regulators such as the FCA, ASIC, and CySEC, and provides exceptional security through segregated client money and FSCS coverage. You will receive £10,000 in virtual funds to practice trading across a wide range of markets, all without risking any real money. Experience with advanced trading tools, competitive spreads, and outstanding customer support. Despite the numerous positive aspects, there are some minor improvements that can be made. City Index do charge inactivity fees and don’t https://traderoom.info/city-index-forex-broker/ provide swap-free accounts for Muslim traders.
City Index is great for both new and experienced traders, and its award-winning track record proves that. For newer traders, City Index has a lot of educational tools that can help those who want to learn more about the industry. These tools include a Trading Academy with courses, lessons, and a glossary. More experienced traders will also benefit from their fast execution speeds, exclusive trading tools and analytical features. City Index is one of the oldest financial services provider agencies established in Sep 1983 by Chis Hales and Jonathan Sparke.