It is crucial to read the broker review before trading with the broker. You can find the City Index review in detail below.
Is it Safe?
Contents
City Index is regarded as a minimal-risk broker with an excellent trust score (99/99). The broker is publicly traded and does not run a bank. City Index is regulated by three tier-1 (ASIC, MAS, FCA), one tier-2, and one tier-3 authority.
Investment Options
City Index, like all other United Kingdom brokers, provides spread-betting throughout its accessible markets, giving United Kingdom citizens tax advantages that aren’t accessible when trading CFDs. Fx options & forwards are also available through the broker.
Crypto: CFDs are offered for crypto trading, but not for trading the underlying asset (meaning purchasing Bitcoin). Retail traders from whatever broker’s United Kingdom business, as well as United Kingdom citizens, aren’t permitted to trade cryptocurrency CFDs. The list below outlines the many investment options accessible to City Index users.
- Cryptocurrency (CFD)
- Social (Copy) Trading
- Forex Trading
- CFD Trading
- 4500 Tradeable Symbols in total
- 65 Forex Pairs in total
City Index Review – Pricing
Trading CFDs, FX, and spread-betting goods at the broker are priced in accordance with industry standards. Traders can use the broker’s own platforms or MT for the lower rates.
Active traders who invest more than £10,000 may qualify for the broker’s Premium Trader account, which includes special pricing, activities, and materials, along with personal customer care.
CFD account: Since around August 2021, the broker has a typical spread of 1.1 pips on the EUR-USD pair, putting the all-in cost somewhat over the industry standard and well below the leading forex brokers in this area, like Tickmill & FP Markets.
City Index Review – Trading from Mobile
The broker’s well-designed mobile application is a powerful trading instrument that competes with industry giants like IG & Saxo Bank.
Summary of the apps: In addition to the popular MT4 (MetaTrader 4) platform produced by MetaQuotes Software Corporation, the broker provides its own unique app.
Simplicity: Adding notifications, transferring money into an account, reading news updates, and executing trades is all made simple using the broker’s cleanly-designed app. Users may also download the MetaTrader 4 mobile app.
Users may also download the MetaTrader 4 mobile app.
Charts: TradingView’s charts include more than 80 indicators and a variety of sketching tools to help users with their technical analysis.
Trading instruments: The Technical Insights, Selected Ideas, as well as Analyst Views sections of Trading Central are fully linked into the broker’s mobile application. Sophisticated order types, like trailing stop-loss orders & One-Cancels-the-Other Order (OCOs), are also supported by City Index.
City Index Review – Other Platforms
The exclusive Web Trader platform from City Index provides a sophisticated trade experience while also giving users access to all of its products. Web Trader provides superior trading instruments and a wide range of sophisticated features, as well as access to a larger number of tradeable marketplaces than MetaTrader 4.
Web Trader is a platform for daily traders that comes with a large number of pre-defined screeners & setups, as well as the capacity to perform sophisticated order types including One-Cancels-the-Other Order (OCO) orders. Web Trader makes it simple for users to browse across marketplaces, from prominent watchlists to integrated research.
The broker no longer advertises the AT Pro platform, preferring to focus on Web Trader (other than MetaTrader 4).
Web Trader is dynamic, adaptable, and simple to use when it comes to charting. TradingView provides charts, which include approximately 90 indicators and a wide range of sketching tools. Aside from trading from the chart, it is good to be able to move the stop-loss or limit order to a different price level, which updates the selections automatically. This type of time-saving function is extremely useful for day trade when speed and efficiency are critical.
Trading Instruments: It’s important to mention that creating a new workstation in Web Trader may be time-consuming due to the need to manually organize elements. Apart from that small irritation, the site has a wide range of services, like Trading Central’s incorporated research instruments, along with market commentaries and updates. Watchlists are synced with their mobile counterparts, and there’s module connectivity, which allows users to change charts by tapping on a symbol.
- Virtual Trading (Demo)
- Proprietary Platform
- Desktop Platform (Windows)
- Web Platform
- Social (Copy) Trading
- MetaTrader 4 (MT4)
- 139 Charting – Indicators in total
- 269 Charting – Drawing Tools in total
- Charting – Trade From Chart
- 20 Watchlists – Total Fields
- Order Type – Market
Research and Analysis
The broker offers great quality market research that outperforms the competition. The one disadvantage to its research coverage is that there isn’t much in the shape of daily video material. Its own written resources are of excellent quality, and it covers a wide range of markets.
Trading Central’s suite of research instruments is easily integrated right into the broker’s main platforms for easy access. Regular editorial from City Index’s group of specialists, news stories from
Thomson Reuters, an economic calendar provided by FxStreet, as well as an Sms notification service for users who want trade ideas sent right to their phones are among the different research features.
Market updates & analysis: The broker’s market News section combines in-house material and allows users to sort content by asset category, category topic, and writer.
Video material: The broker’s video material production has reduced over the years, lowering its score in this area. City Index’s Youtube page hasn’t been updated in months — the broker appears to have stopped streaming in-house.
Educational Material
The broker provides a comprehensive instructional experience for both newbies and experienced traders. Although the broker’s YouTube page has a large library of instructive clips, it has fewer written articles than the pioneers in this area.
Learning center: The broker’s website’s Training part comprises two primary guides, each arranged by chapter and containing content for both newbie and experienced traders. Introductory chapters cover a wide range of topics, from risk mitigation to fx & CFD trading, whereas advanced chapters address more complex topics including options trading methods.
Trading Academy is a series of videos developed in the form of a television show, which is a deviation from the usual. Over the course of a month and a half, the show follows a group of beginner traders as they discover how to trade. Celebrity Trader is a feature in which celebs give their personal tips, advice, and tactics. On the broker’s webpage, there are a total of 18 videos. Its Youtube page also has recorded webinars, like the “Become A Trader” course.
City Index Review – Verdict
The broker gives access to a number of worldwide markets, along with 65 spot fx pairings, 15 forwards, and more than 4,500 CFDs, from its locations in Europe and Asia-Pacific.
Regarding City Index users, MetaTrader 4 is accessible (but with fewer markets to trade), and MetaTrader 5 is planned to be ready by mid-2022. Till that day, algorithmic trading is confined to MT, the world’s most common platform for automated trading, due to the termination of AT Pro desktop.
While the broker’s prices aren’t the best in the business, its excellent platform suite, a large selection of tradeable markets, and the outstanding unique app will appeal to traders of all types.
See also: HYCM Review 2022 – Scam or not?
