City Index Review
4.5
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
City Index is a leading trading platform that offers professional-grade services to traders worldwide. With its advanced trading technology, comprehensive range of tradable instruments, and commitment to client satisfaction, City Index stands out as a trusted and reliable choice for traders.
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Part of StoneX Group (NASDAQ), is regulated in three top-tier jurisdictions, ensuring safety for forex and CFD trading
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Fast and smooth account opening process
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Low fees for forex trading
Overview
Year founded
Minimum deposit
Withdrawal fee amount
Available Offerings
Platforms available
1983
0$
0$
Forex, CFD, Crypto
Desktop, Mobile, Web
Account Opening
City Index offers a fully digital and swift account opening process with no minimum deposit requirement. They provide three different types of accounts: Trader, Premium Trader, and Professional. These accounts vary in terms of required account balance, maximum leverage, and additional services provided. You have the option to open an individual or corporate account, depending on your ownership status. If you are in the UK, you also have the opportunity to trade using a Self-Invested Personal Pension (SIPP) account. The process to open an account is entirely digital and involves three simple steps. First, you need to provide your personal and financial information. Next, you will indicate your trading experience and complete a knowledge test. Finally, you will need to verify your ID and residency. For ID verification, you can upload a national ID, passport or driver's license. Residency can be verified through utility bills or bank statements.
Safety
City Index operates under the ownership of StoneX Group Inc., which is publicly listed on the NASDAQ Stock Exchange. It is a regulated entity overseen by reputable authorities such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). To ensure client protection, City Index offers negative balance protection specifically for forex spot and CFD trading through StoneX Financial Ltd. (UK) and StoneX Financial Pty Ltd. (AU), but this protection is applicable only to retail clients onboarded under the FCA or ASIC. Professional clients and those outside the European Union or Australia do not have negative balance protection coverage. City Index operates through various legal entities across the globe, and the specific entity serving you depends on your residency. The amount of investor protection you are eligible for is determined by the regulations of the country where the serving entity is located. Established in 1983, City Index is headquartered in USA.
Risk Disclaimer
Trading securities carries a significant level of risk. When it comes to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is substantial exposure to various risks. These risks include, but are not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility. They can have a significant impact on the price or liquidity of a currency or related instrument. It is important to note that the methods, techniques, or indicators provided in these products may not necessarily yield profits, and there is a possibility of incurring losses. For more information on the risks associated with forex trading, please refer to further resources.
Summary
City Index offers competitive forex fees, along with a hassle-free account opening process that doesn't require a minimum balance and doesn't charge withdrawal fees.
As a CFD and forex broker, City Index is regulated by three esteemed jurisdictions, ensuring a high level of trust and security.
However, it's important to note that City Index does have some limitations. The product portfolio is somewhat restricted, and stock CFD fees tend to be on the higher side.