City Index Review – is City Index Scam or Legit Broker?

CityIndex

2.9

Rating

2.9/5

Pros

  • 12,000 stores to Pick out of
  • FCA law
  • Segregated Accounts along with 50,000 insurance contrary to liquidation
  • Quick and Easy to obtain started using the demo trading accounts

Cons

  • Scant Info on bonuses and promotional supplies
  • Maximum leverage of 1:200, while other websites offer 1:500
  • No Traders from the United States or Canada

CityIndex is a global forex broker located in London, UK. The business was launched in 1983, also it has cemented its place among many greatest CFD, spread gambling, and forex pioneers. Traders have usage of 12,000 stores all over the board, crossing commodities, indices, stocks and FX.

Overview/ desktop

CityIndex implements an estimated 1 million trades each month, also it has been from the game for over 30 decades. Situated in the center of London, England, CityIndex provides traders having a large assortment of resources, tools and stores to benefit from. The business is licensed and regulated by the Financial Conduct Authority (FCA), and also the parent company is currently GAIN Capital Holdings Inc, which is additionally recorded in the New York Stock Exchange under the ticker GCAP.

For the complete year-end 2016, the corporation ‘s client shares were valued at $945 million, also there are a few 150,000 retail traders worldwide. The business can also be fully licensed and regulated to provide Real Money trading in 8 authorities. Traders have added satisfaction from the data there are authenticated customer accounts to drive back liquidation or bankruptcy of the small business, and also FSCS reimbursement up to 50,000 in case of liquidation, due to the Financial Services Compensation Scheme.

Account Types

Forex traders may certainly start a free account by completing an internet application. Since CityIndex is fully governed by the Financial Conduct Authority (FCA), customers will likely have to answer a set of questions related to their own fiscal status, degree of trading experience and that type of derivative products they would like to trade. It’s likely to trade Contracts for Difference (CFDs) and put in an application to get a spread betting account simultaneously.

Read another review  IG Review - is IG Scam or Legit Broker?

No experience is required to start a real money account along with perhaps a demo-trading accounts, nevertheless income and savings levels will likely be considered from the account opening procedure. Identity confirmation is necessary if reports have been opened, and just traders from regulated authorities will probably soon be allowed to perform an internet application. Currently, taxpayers in North America (Canada and the United States) aren’t eligible because of balances, however UK traders, European traders along with the rest of the regulated countries are all welcome.

Personal accounts, company account (current account having a balance of 50,000) and demonstration trading balances are all readily available. FX traders may quickly trade their selection of 8-4 money pairs. Included in these are big pairs, little pairs along with exotic money pairs. The trading accounts fully for forex maybe your MT4 account. That really is exclusively for currencies. The trading platform delivers a large selection of features and tools like customisable graphs together with 80 economic indicators along with 16 distinct kinds of graphs.

Further, you can find technical trade suggestions and feature-rich technology to power your own trading experience, no matter of one’s understanding of forex currency trading. Traders can examine the CityIndex platform for fourteen days using infinite usage of financial stores using spread betting and CFD trading and 2,500 in demonstration money. There’s zero risk for the demonstration trading platform and all of the features and tools of Real Money trading are all available too. The demonstration reports mimic live trading requirements at most manner.

Trading Platform/ applications

Currency traders obtain to savor the entire world-renowned MT4 trading platform. Currency traders will probably possess full profit from the EA’s (expert advisors) around the MetaTrader4 platform. Top-tier customer care and service is also available for traders, along with the complete variety of trading signs and also customised economic indexes. The MT4 trading platform works on most of iOS, Android and Windows apparatus. CityIndex’s trading programs are all created for full accessibility or online trading. Advantage Web offers HTML 5 charting and functionality, personalised screen designs, fundamental and technical investigation and much more.

Read another review  FinFX Review - is FinFX Scam or Legit Broker?

The trading options comprise a live streaming feed from Reuters and the attendant financial indexes, amounts and computing functionality, along with 24/7 account access. The cellular trading programs are all aimed towards making of Android and iOS apparatus. Traders who want to download the platform and applications may delight in the AT Pro option. This could be definitely the strongest trading platform in CityIndex also it includes a sophisticated charting program using auto trading plans and improved efficiency.

Deposit options

Traders can finance their accounts at CityIndex using bank transfers, bank cards or bank cards such as MasterCard, Visa, Maestro, and Visa Electron. Cash payments aren’t accepted and are third-party deposits. There are no penalties related to bank card deposits and banking transfers, nevertheless charge cards may incur a 1.5percent commission.

Markets

The stores incorporate rates of interest, stocks, bonds, options, indices, stocks, forex and commodities. Within each of the broad types are multiple financial tools for traders. Forex pairs comprise 8-4 options, together with spreads from as little as 0.5 points. The most widely used forex pairs incorporate both the USD/JPY, EUR/USD, and also the GBP/USD. Other monies incorporate the AUD/USD. In general, you will find 2 1 world wide indices, 4,500 stocks, 25 worldwide commodities and a vast assortment of options, bonds as well as alternative stores.

Bonuses

CityIndex sporadically offers bonuses and promotional offers for traders. It’s ideal to get customer service for information on current supplies, if any. Country certain promotions and bonuses are usually agreed for traders.

At this time they have been offering a one-month free trial offer ofFaraday Research (Trading Signals) that is worth 600 annual.

Customer Support

Traders can reach support via multiple stations. These Are the following assistance options:

  • Local and International Telephone Numbers (0845-355-0801, 44-203-194-1801)
  • Email Support – [emailprotected]
  • Land-based Address – London, EC2M UK
  • FAQ
  • Online Contact Form
  • Live Chat Functionality
  • Social Media (LinkedIn, YouTube, Facebook and Twitter)
Read another review  Forex4you Review - is Forex4you Scam or Legit Broker?

Safety

CityIndex is 100% safe to trade forex. The trading systems are fully guaranteed safe and sound, and compliant with all the maximum industry standards. Forex traders make use of the world-famous MT4 platform that’s shielded against third-party interception of data. The business is governed by the FCA from the UK, together with license #524837435 and enrollment number 113942. All customer balances have been segregated from the company accounts, and reports have been guarded by 50,000 in insurance against liquidation.

Ease of Use

Provided you’re in the regulated country or authority, it is possible to certainly enroll a secure and safe internet accounts. Trading is very simple – simply pick your favorite financial shares to obtain going. The selection of products comprises indices, stocks, money pairs, commodities, rates of interest, bonds, options and metals. In general you will find a few 12,000 financial tools available over the plank. Trades can easily be implemented and also the trading programs offer you a demo mode account and also a real money accounts. Traders may enjoy online trading, full accessibility, or even online trading.

Final Thoughts

CityIndex is a recognized forex broker with 8-4 money pairs along with also an extraordinary trading platform. The demonstration trading accounts is an excellent strategy to obtain the toes wet in the money stores. Other options comprise spread betting and CFD trading also there are a few 12,000 stores to get. Customer support is professional and friendly, plus it’s quite simple waking out of bed and functioning only at that FX broker.

Internet Site:
www.cityindex.co.uk
Telephone:
0845 355 0801
Legislation:
FCA, ASIC, MAS
Pairs provided:
8-4, such as GBP/USD, EUR/USD, GBP/JPY, NZD/USD, AUD/USD, USD/CHF
Minimum Deposit:
$25
Spreads From:
0.5 points
Max Leverage:
200:1
Markets:
Forex, Indices, Shares, Commodities, Options, Metals, Interest Rates, Bonds, Trade like CFDs or disperse wager