Forex White list

CityIndex review and ratings

CityIndex review and ratings
Broker complaint Leave a review on the broker

COMPANY INFORMATION

CityIndex group includes 4 related companies.

CityIndex AU – located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
CityIndex UK – located in the United Kindom, regulated by the Financial Conduct Authority (FCA).
CityIndex UAE – located in the United Arab Emirates, granted with a representative license from the Central Bank of UAE.
CityIndex SG – located in Singapore, authorized by the Monetary Authority of Singapore (MAS).

Be aware, UK company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, AU company accepts European traders, so one can open a trading account there.

AVAILABILITY

CityIndex group accepts clients from all over the world, excluding USA, Canada, Afghanistan, Angola, Belarus, Belgium, Burundi, Central African Republic, Chad, Congo, Cote D’Ivoire, Cuba, Equatorial Guinea, Eritrea, Guinea, France, Guinea-Bissau, Haiti, Hong Kong, Iran, Iraq, Israel, North Korea, Lebanon, Liberia, Libya, Myanmar, New Zealand, Nigeria, Sierra Leone, Somalia, Sudan, Syria, Turkmenistan, Uzbekistan, Venezuela, Western Sahara, Yemen, Zimbabwe.

DISTINCTIVE FEATURES

  • CityIndex UK offers Spread Betting on currency pairs, shares and commodities.
  • Authorised and regulated by a government agency in several counties.
  • Thousands of stocks available for trading.
  • Tight spreads on major currency pairs.

TRADING INSTRUMENTS

Forex broker offers the following underlying assets for trading.

80+ Currency PairsBased on major and minor world currencies.
15 Currency ForwardsBased on major world currencies.
5 Crypto Cash CFDsBased on Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple.
17 Indice Cash CFDsBased on baskets of different blue-chip stocks.
20 Indice FuturesBased on baskets of different blue-chip stocks, US Dollar Index and Volatility Index.
4 Metal Spot CFDsBased on Gold and Silver.
5 Metal FuturesBased on Gold, Silver, Platinum, Palladium and Copper.
6 Energy FuturesBased on Crude Oil (WTI, Brent), Heating Oil, Gas Oil, Gasoline and Natural Gas.
18 Soft FuturesBased on Coffee, Robusta, Sugar, Corn, Cotton, Cocoa, Wheat, Lumber, Oats, Orange Juice, Soybean, Soybean Oil, Lean Hogs and Live Cattle.
11 Bond FuturesBased on US, UK, German and Italian government securities.
4500+ Stock CFDsBased on shares of AU, US, UK and EU companies.
3 Interest Rate FuturesBased on Euribor, Eurodollar, Short Sterling.

COMPREHENSIVE REVIEW

As another of GAIN Capital’s forex brokerages, CityIndex is managed and regulated much in the same way as its sibling Forex.com. The main difference between this broker and Forex.com, however, is that CityIndex does not have any operations in the United States, but instead serves customers from its offices in the United Kingdom, the United Arab Emirates, Singapore, and Australia. The broker is open for traders from all countries except the USA, Canada, New Zealand, and some other countries.

While CityIndex is headquartered in London and regulated by the UK Financial Conduct Authority, its parent company, GAIN Capital, is a publicly traded New Jersey-based company. As a listed company in the US, GAIN Capital must meet some of the strictest regulatory requirements in the world, and it can generally be considered safe to deposit money with any of their retail brokerage brands.

For those unfamiliar with this broker, CityIndex first made a name for themselves back in 2012 when they selected eight “wannabe” traders for professional training in a PR stunt aimed at proving that anyone with the right training could indeed learn how to make money from trading. In a sort of reality TV-format, one trader was eliminated from the group each week, leaving two traders to eventually fight for a £ 100,000 prize in front of a live audience.

In terms of its user experience, CityIndex offers a website with a clean and user-friendly interface where all relevant information, including trading instruments, market news, and training materials can be found with ease.

An extra benefit offered by this broker is the large library of educational materials they have made available online. All educational materials are conveniently organized into different levels of trading experience, and different markets.

In terms of available trading instruments, CityIndex offers a wide selection of CFDs based on almost any imaginable market, including forex, shares, cryptocurrencies, commodities, metals, options, bonds, and interest rates. Since CityIndex does not operate out of the United States, they do not need to limit their selection to the very few assets that brokers are normally allowed to market to US-based traders.

Trading accounts on CityIndex can be funded using either an internationally recognized credit or debit card, or via an online payment system such as PayPal, or by sending a bank wire transfer to the broker. Although there is no minimum deposit to open an account with this broker, a minimum of USD 10 or the equivalent is necessary in order to start trading.

Further, withdrawals will always be sent to the source they originated from, and is subject to a £50 minimum withdrawal. Both deposits and withdrawals are processed free of charge with CityIndex.

CityIndex does not disappoint when it comes to trading platforms either. In addition to the well-known MetaTrader 4 (MT4), the broker offers the web-based “Advantage Web” platform, the Advantage mobile app, and “AT Pro” as a traditional downloadable option.

The broker’s “Advantage Web” platform also offers a handy feature that let traders place orders directly in the chart, an extra benefit that traders who depend on technical analysis are likely to appreciate.

CityIndex offers their traders three main ways to contact them in case of any issues that require support, live chat, email, and phone. Support teams follow forex market hours and are available 24 hours a day, all weekdays.

Leave a Reply

Your email address will not be published.