City Index Review 2019 | Is City Index a Scam or Legit Forex Broker?

Read our City Index review to find out if City Index is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.8/ 5

Rating breakdown

Protection & Regulations
80% Complete (danger)
4.0/5
Trading platforms
100% Complete (danger)
5.0/5
Tradable Products
100% Complete (danger)
5.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
City Index
City Index Overview

Gain Capital’s City Index offers the trading of over 12000 assets across FX, CFDs and Spread Betting to its traders. The company launched way back in 1983 and is FCA regulated

# Broker's Features CITY INDEX Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review City Index.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. City Index offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Bonds, Crypto, Futures.

Tradable Products: With 12,000 assets across several asset classes, City Index provides flexibility and greater choice to the user in terms of what to trade.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. City Index is Dealing Desk, DMA, Market Maker.

Features: The City Index platforms are loaded with features to enhance your trading experience. There are 4 platforms to choose from, each with its own unique features.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. City Index recommended minimum capital is $0.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. City Index is regulated by ASIC, FCA, FSA, IIROC, MAS, NFA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: City Index seems to take investor protection seriously, and that is why it has FCA regulation in place, one of the most serious and toughest regulators, as well as encryption of all data that is transmitted on its website. Further protection comes from account segregation and its membership of the FSCS.

Languages Available: Next lets have a look at each broker's different Language options. City Index offers Arabic, English, German.

Payment methods: Next lets have a look at each broker's payment options. City Index offers Credit Card, Wire Transfer different payment methods for each account types.

Deposit and withdrawal: Two methods of depositing and withdrawing funds exist on City Index. These are all done within the context of a cold wallet system, which provides added security for all transactions.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, City Index makes MetaTrader 4, Proprietary available to clients.

Web & Desktop Trading Platforms: City Index offers an array of trading platforms for its various trading products. These exist either as desktop clients, or as web-based platforms as both turnkey and proprietary solutions.
Mobile Trading Platforms: Mobile trading is possible with the City Index proprietary mobile apps for iOS and Android devices. They include the Advantage Trading app which was built in house

Other

Trader Education
Trader education on City Index starts right from the point of successful account registration

Promotions
No bonuses or promotions are available at City Index as this is an FCA regulated broker that prohibits this feature

Support
City Index offers a multilingual customer support system which can be reached using several channels. Customer support is responsive and is available 24 hours a day, 5 days a week.

Recup
This 36 year old brokerage offers trading of over 12000 assets on a selection of proprietary and turnkey trading technology. They offer trading of Spread Betting in the UK and FX and CFD’s across their other regions too

Final Thoughts
Generally speaking, City Index has a high trust index among the trading public, and it is a good brokerage for those seeking safety of the trading environment, versatility in the trading products offered and responsiveness in customer support.

Trading Experience
The City Index platforms are suitable for all categories of traders, as they have tools that can be used by beginners, intermediate-level traders and experienced users. However, it needs to work on its site navigability to address some concerns from its users on the ease of use of its website.

People Also Asked

Is City Index regulated?
Yes, City Index is regulated by top-tier regulators, ASIC, FCA, FSA, IIROC, MAS, NFA inclusive.
Where is City Index based?
City Index is based in , United Kingdom
How does City Index make money?
City Index charges a spread between the bid price and ask price. It does NOT charges a commission.
How do I deposit in City Index account?
With City Index you can deposit money via the following means; Credit Card, Wire Transfer.
How do I withdrawal in City Index account?
City Index lets you request a withdrawal of funds from your account via the following means; Credit Card, Wire Transfer.
What is the minimum deposit for City Index?
City Index has $0 minimum deposit.
What are the available account base currencies with City Index?
City Index trading accounts are offered in N/A. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in City Index?
City Index has a maximum leverage is 1:30 for professional traders.
How do I open an account with City Index?
Opening an account with City Index is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does City Index use MetaTrader?
City Index platforms: Yes, City Index use MetaTrader as well as the following platforms: MetaTrader 4, Proprietary
What type of broker is City Index?
City Index appears to be a Dealing Desk, DMA, Market Maker broker which offers market access to a variety of traders.
Does City Index accept US clients?
No
Does City Index offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with City Index: You can trade a wide variety of instruments with City Index: Currencies, Commodities, Indices, Stocks, Bonds, Crypto, Futures