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Review, Qualification & Comparison of City Indices

Trading accounts

Account type Minimum deposit Maximum leverage Spreads Average Forex trading platform £ 1001: 2001.6 pipsMT4CFD £ 1001: 2000.7 pipsAT Pro, Advantage Web.

Basically, City Index offers its clients two types of accounts: CFDs and Forex, one. There is also a betting account available for UK customers (no applicable stamp duty). All accounts are free of commissions (apart from transactions with CFDs on stocks), they offer a leverage of up to 1: 200 and variable spreads.

The company. Fund Security

Business

country

Regulation

Gain Capital UK Limited

United Kingdom

FCA

The City Index is a UK broker that offers operations in 84 currency pairs and several CFDs: 21 global indexes, more than 4,500 global stocks, more than 25 global commodity bonds, options, Bitcoin and more on various trading platforms.

Founded in 1983, City Index was one of the first companies to offer operations with spreads and CFDs in the United Kingdom. In 2015, it was acquired by the US forex giant Gain Capital for approximately 148 million dollars. Therefore, the City Index brand is currently operated by Gain Capital UK Ltd. - a company authorized and regulated by the Financial Conduct Authority (FCA).

The FCA is one of the most reliable regulators in the world, as authorized companies, must comply with a series of strict requirements and standards: capital adequacy (EUR 730,000), position reports, customer money maintenance in separate accounts, etc.

In addition, the FCA regulation includes the Financial Services Compensation Scheme (FSCS), which protects consumers up to £ 50,000 per person.

Founded in 1999, GAIN Capital Group is now a global provider of online commerce services, active in North America, Europe and the Asia-Pacific regions serving both retailers and institutions. The parent company, GAIN Capital Holdings, Inc. (NYSE: GCAP), is a currency broker and CFDs based in New Jersey. As a global publicly-traded company, regulated in 7 jurisdictions, Gain Capital meets high standards of corporate governance, financial information, and disclosure.

Except City Index, Gain Capital Group operates with the Forex.com, GTX and Gain Capital brands, FinSpreads, as well as with the Galvan CFD advisory business and the futures provider, Daniels Trading. It also offers white label solutions for online forex trading companies.

Conditions to Operate

Minimum initial deposit

To open an account with the City Index, you have to invest £ 100, which is the average. However, other providers of UK CFDs and spread-betting bets do not require any at all - IG and CMC Markets, for example.

Spreads and Commission

City Index is that it offers operations without commissions and competitive spreads, especially in the CFD account, where the average spread is 0.73 pips in the EUR / USD pair. On the other hand, the spreads of the MT4 Forex account are slightly above average, since typical spreads are around 1.6 pips for this pair.

In comparison, IG offers variable spreads, with an average of 0.8 pips in EUR / USD and also does not charge commissions. For more information, you can check and compare the real-time spreads of 15 leading brokers here.

Leverage

The maximum leverage levels offered by the City Index are up to 1: 200, which is considered an average.

If you need higher leverage ratios, many FX brokers still provide them. FXCM, for example, offers a leverage of up to 1: 400 and you can also check a list of brokers that offer a leverage of up to 1: 500 or higher here. Keep in mind, however, that greater leverage implies a greater risk of losses.

Know more about  FCB Trades

Trading platforms

City Index prides itself on the variety of commercial platforms it offers. The list includes its internal AT Pro desktop, HTML5 Web Trader, as well as the popular MetaTrader 4

The broker launched its Web Trader platform in 2018, which is much more advanced than the previous Advantage Trader, which was based on flash. The new City Index Web Trader is a state-of-the-art trading platform, built-in HTML5, which offers operators a number of valuable features, such as:

- Fast and reliable HTML5 technology for optimal performance;

- Fully customizable workspaces that allow customization and flexibility;

- Advanced graphics with custom indicators and precision drawing tools;

- Intelligent negotiation tools, including smarter negotiation tickets and advanced risk management tools;

- Cured market information with a detailed market analysis to identify trading opportunities.

The AT Pro platform is basically designed for advanced applications. Apart from powerful graphics, numerous technical indicators and customizable design, it offers automated negotiation strategies. Users can code their own unique operation strategies, there is an Excel backspace test tool available, and also operation signals.

In addition, the most popular trading platform - MetaTrader4 - is also supported by the City Index.

Payment methods

City Index customers can only use bank transfers, as well as debit / credit cards as payment methods.

It is free to make deposits with a debit card, but there is a 1.5% charge if you use a credit card.

Conclusion

City Index is part of the Gain Capital group, a leader in currency brokerage with a global presence. It offers competitive conditions to operate in forex, CFDs, as well as spreads bets on a wide range of platforms. Here are, in a nutshell, the advantages and disadvantages with respect to the Cities Index:

Pros

Cons

Strong regulation

Market Maker Model

Tight spreads, no commissions

Limited payment methods

Several commercial platforms are offered, including MT4

Part of a global core brokerage group

Wide range of products offered