I had a lot of problems with setting up the correct account type, but James walked me through each and every problem I encountered. James is very professional, personable, helpful plus a few more adjectives all of which made it a pleasure working with him. Have just started using the City Index app and it works perfectly which is good news because now I can go out and get some fresh air. Chris Gordon looks after my account and he is always very affable and helpful. Other staff just tell me my account is restricted.but they did not solve my problem. This staff https://traderoom.info/city-index-forex-broker/ Manuel G , know my problem is I can not trade ,so just let me closing the old one ,and apply new one in new website .
City Index is also regulated to trade in the United Arab Emirates under their FCA license. Traders are offered the option to tick the one-click trading button to easily enable this handy feature. The button is located at the top right-hand side of the menu on the web trader. Speculating on interest rates at City Index is based on fixed spreads. The above markets include City Index’s DFT (daily-traded funds) markets.
Option trading
- You can trade across diverse financial markets, including Eurodollar, Euribor, and Short Sterling rates, and profit from both rising and falling interest rates.
- If no activity has happened on your trading accounts for 24 months or more, your City Index trading account will be tagged inactive and a monthly inactivity fee of $15 will be applied.
- Spreads on this account start from 0.5 pips for major pairs and you do not pay any commission fees for trades.
- The Web-Trader trading app is built on HTML5, and features advanced charting abilities, with customized indicators and tools for drawing.
- The StoneX connection goes a long way in building trust, while the broker’s history and London location will instill confidence.
- As a trader choosing a forex broker, you might have questions and inquiries.
- The charting feature offers dozens of technical indicators and precision drawing tools.
Plus500 offers traders a well-balanced asset selection and supports more complex trading strategies due to the availability of options trading. You can contact the customer service personnel by phone or via chat. 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.
This efficacy in customer support is achieved through multiple communication channels, including phone, chat, and email services. The availability of these channels ensures that clients can easily reach out for assistance or clarification, thereby minimizing disruptions to their trading activities. Additionally, City Index maintains an active presence on various social media platforms, offering another layer of interaction and support for users. Besides the three distinct account types, City Index has three trader classifications. The Trader account is the default classification for retail traders. The Professional account provides access to the most superior trading environment, but there is specific criteria which needs to first be met.
Account Enquiry
City Index is well-suited for new and intermediate traders seeking a platform enriched with resources, advanced tools, and a broad spectrum of market opportunities. The competitive fee structure is appealing, although high-frequency professional traders may consider alternatives with potentially lower cost structures. Continued enhancements and updates to the trading platform reflect a dedicated commitment to maintaining excellence in the brokerage space. Overall, City Index stands as a strong option for traders who value reliability, the opportunity for educational advancement, and advanced trading functionalities. The scope of this review is to provide a thorough examination of the features and services offered by City Index, particularly focusing on its appeal to those engaged in algorithmic trading. Notably, City Index distinguishes itself in a competitive landscape through its advanced trading tools, extensive market coverage, and robust educational resources.
Spreads on this account start from 0.5 pips for major pairs and you do not pay any commission fees on your trades except when trading shares from 0.05% to 0.15%. You also pay swap fees for keeping a position open past the closing time of the market. The company offers accounts for both new traders and companies as well as experts who trade a variety of instruments. The broker offers central counterparty clearing on “certain markets” through the Omnibus Segregated Clearing Account (OSCA).
As already stated, demo trading is available for 12 weeks, the duration of the demo account cannot be extended. You can, however, apply for another demo account if you still need to practice. It is also one of the most reputable forex brokers in the industry with 40 years of experience.
City Index Regulation / Money Protection
This is why we have reviewed City Index’s customer support in the UK. Forex traders can gain access to forex markets through spread betting, CFDs and foreign exchange spot transactions. In fairness a global issue today but for sure you can guarantee City Index always affected. A poorly run organisation with no interest serving their customers. For high-volume traders and professionals, City Index extends special privileges through volume-based rebate programs. These programs offer financial incentives based on the traded volume, effectively lowering the overall trading costs for those engaged in large-scale transactions.
These regulatory bodies ensure that City Index adheres to strict standards of financial conduct and customer protection. If you prefer trading on the go, City Index’s mobile apps are equally impressive. Available for both iOS and Android, the apps offer nearly all the features of the web platform. I’ve used the mobile app several times to manage trades when I’m away from my desk, and it’s always been a seamless experience.
Even stocks and bonds can depreciate quickly during market downturns, and total loss can ensure if the issuing company fails. Furthermore, the stability of your broker matters; in case of bankruptcy, the presence of an effective investor compensation scheme is crucial for protecting your assets. It’s vital to align these investments with your financial goals and if needed, consult with financial professionals to navigate complex financial markets.
- The Forex broker offers an ample selection of platforms that make it easy to start trading without having to get used to an unfamiliar platform.
- Traders can use the app to execute and manage trades on the go while making use of City Index’s main platform features.
- Minimum and average spreads are competitive, at 0.50 pips minimum and 0.69 pips average for EUR/USD.
- However, such benefits are not accessible to all account types, highlighting the tailored advantages for traders who meet specific trading criteria.
- According to City Index’s documents, it is possible that your orders are executed by a trading desk.
- Fortunately, the order interface looks identical to the desktop and web programs, allowing adequate risk management while on-the-go.
New account applications are processed by a four-step online form. The required information is standard operating procedure and grants traders access to the back-office. Per regulatory requirements, a verification process to satisfy AML/KYC requirements are necessary. A copy of the trader’s ID and one proof of residency document will complete the process.
Options give traders just that—an option—to buy or sell an underlying asset at an agreed-upon price on a certain date. We have conducted an in-depth review of City Index and Plus500 to determine which one presents the better overall choice and which traders will benefit the most at either broker. They are regulated by the FCA and ASIC, and these are recognized, top-tier regulators. Also, the FSCS guarantees that your money is safe and protected upto a certain limit.
It is powered by Web Trader and offers customizable workspaces and advanced charts. SMSF accounts allow you to trade in the name of your SMSF or Trust. To apply for the City Index Professional account, you need to first open a regular City Index trading account and log in.