City Index offers over 25 cryptocurrency markets for trading including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). Traders have access in real-time to over 4,600 markets spanning forex, stocks, indices, cryptos, and more. Overall we found that City Index performed poorly, a lowly 17th of the 20 brokers. To verify our results we did the test again one week later and the results were similar. With an average spread of 1.79 pips, your cost will be $16.52 per lot you trade. This contrasts significantly with what we found in our IC Markets Review which averages 1.03 pips or $9.63 per lot.

Demo Account

As mentioned, this broker does charge an inactivity fee, which is something to be aware of. In comparison, brokers like CMC Markets and X Open Hub are also highly regulated but may not provide the same level of educational resources and customer support that City Index offers. Overall, City Index provides a solid blend of competitive fees, robust educational support, and diverse platform choices, making it a strong contender among its competitors.

These are short sterling with a spread from 0.02 pips, Eurodollar from 0.02 pips, and Euribor from 0.02 pips. These include the UK Gilt from a spread of 0.03 pips, Euro Bond from 0.03 pips, and the US T-Bond, and US T-Note both with a spread from 0.02 pips. Bitcoin with a spread from 120 pips, Ethereum from 4 pips, Ripple from 0.6 pips, Bitcoin Cash from 2 pips, and Litecoin from 0.8 pips. This starts after 36 months of inactivity, or 12 months inactive as a professional trader. There is however a minimum withdrawal limit of $100, and a maximum of $20,000 at any one time. City Index does not generally require any minimum deposit though this may change based on your location.

Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA). City Index offers a flexible minimum deposit structure that varies by region and payment method. Clients, there’s no fixed minimum deposit requirement to open a Standard or MT4 account, although a recommended deposit of £100 is suggested to meet margin requirements. In Australia and Singapore, the minimum deposit is typically $150 AUD or SGD, respectively.

The spreads are tight, and there are no commissions on Forex trades, which is a big plus for traders looking to minimize costs. The spreads on major currency pairs like EUR/USD can be as low as 0.5 pips, which is quite reasonable. Whether you’re looking into forex trading for beginners or you’re an experienced trader, City Index is a leading option. Not only does it have a range of trading platforms but also a large number of tradable instruments. In essence, this broker makes it easy to diversify your portfolio and mitigate future risk.

At TopBrokers, we appreciate how difficult it can be to choose a broker from the start. We aim to give as much information as possible, therefore making the trading journey smoother. From comparisons to direct reviews, we have a range of resources to help you.

How does MetaTrader 4 (MT integrate with City Index’s services?

The well-designed, intuitive interface is packed with features such as multiple chart types, 14 time intervals, advanced drawing tools, and one-click trading directly from charts. The platform also offers Performance Analytics, designed to help traders set up a trading plan, track their executions, and review trades. The feature that stands out most, however, is Trading Central – an advanced, AI-based research and idea generation tool. Overall, City Index offers an all-around solid desktop trading experience, even if it lacks a downloadable platform. City Index’s trading tools include high-tech trading platforms like WebTrader and MetaTrader 4 (used by millions of traders around the world). Traders can also access Performance Analytics, SMART Signals, Trading Central, Advanced Charts, and alerts to help them.

What is the minimum deposit required for opening a City Index account?

Another option is to top up your balance with the PayPal service as long as your e-wallet account is set up in GBP, USD or EUR. The deposit amount will then be converted into the base currency of your City Index account. Traders will benefit from a comprehensive range of drawing tools which can help them spot important support and resistance levels. Charts are configurable – you can change colors, time intervals, and indicators for a fully customized experience.

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• Additionally, these commissions were compared with those of the top two competitors, Bybit and XM Group, to provide the most comprehensive information.
• Margin is the initial deposit required to start and maintain a position, and it changes with the market, asset type, and position size.
• This ultimately makes it a very accessible account type and with excellent value spreads that stay tight and start from 0.5 pips on forex or 1 pip on major indices.
• City Index iOS and Android mobile apps provide a great experience for those who want to trade on the go, with efficient design and well-organized menus, and the ability to manage all accounts in one place.
• Equity CFD costs vary by market, with UK and most European equities levied at 0.08% of trade value and most US shares at 1.8 cents per share.
• While neither City Index and FOREX.com offers cTrader, FOREX.com, on the other hand, offers TradingView, these feature provide proprietary platforms with advanced charting and analysis tools.

City Index offers MetaTrader4 and their proprietary City Index Desktop and WebTrader. You can choose from 8 currency types but the RawFX in Australia can only be AUD or USD. 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). Yes, City Index is subject to rigorous regulation by esteemed organizations such as the FCA in the United Kingdom, and it has upheld a lengthy standing in the industry.

The customer support team at City Index is very helpful, professional, and quick to reply to all of your questions. These include through the live chat service hosted on their website, through email, or by phone that is specific to your location. These potential opportunities will be ready to trade on a number of short timeframes from 4-12 hours and you can also utilize the suggested order details.

• Minimum and average spreads are fairly competitive, at 0.70 pips minimum and 0.80 pips typical for the EUR/USD currency pair.
• To verify our results we did the test again one week later and the results were similar.
• You can keep a close watch on the markets you are interested in with the help of the customizable watch-lists.
• 71% of retail investor accounts lose money when trading CFDs with this provider.

At the moment, City Index does not provide any features for Social-Copy trading although this could always change in the future. The performance analytics feature can help you in analyzing your trading history and provides insight based on three elements. Real-time price alerts mean you are always in the know, and updated news from Reuters within the app means you will be able to see the news that may move the market right away. For the forex market, this is 24 hours a day from 10 pm (UTC) on Sunday to 10 pm (UTC) on Friday.

Trading Tools & Education

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. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. An advanced strategies educational course lesson with progress tracking on the City Index website. City Index delivers high-quality market research that scores above the industry average. The only downside with its research coverage is a general lack of daily video content.

He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. MT4 is available for City Index traders – albeit with fewer markets to trade – and MT5 is only available in select regions for City Index clients. Until then, with the discontinuation of AT Pro desktop, algo trading is limited to MetaTrader, which remains the most popular platform globally for automated trading (in addition to TradingView). TradingView allows you to customise trading indicators to suit your particular strategy.

A good broker choice for newer and experienced traders they offer an excellent range of tools and educational resources. No minimum depositis charged, and spreads are tight and commission-free. I heard a lot about a number of market records in the City Index, attractive spreads, bonuses, useful services such as news from Reuters. But the minimum deposit is very large, for a long time I could not decide to open an account here. This means that the trading conditions are the same for everyone, and you, in fact, decide what the spread city index review is. The presence of a demo account is also pleasing, although it works mainly with currency pairs.