rade on indices, currencies, commodities and bonds are commission-free, and you have to pay commissions for CFDs on shares, which vary depending on the market you want to trade. In October 2012, City Index launched City Index Trading Academy – an online TV series and competition aimed to demonstrate that with education and support, anyone can learn to trade the global markets. City Index currently offers a suite of trading platforms which include Advantage Web, AT Pro and MetaTrader 4. SALT – Based in Truro, Cornwall, SALT is a personal trading service providing independently researched advice on CFDs, spread bets and rolling spot FX products. City Index Limited – Established in 1983 as one of Britain’s first spread betting providers, the company carried on growing – and in 2001 launched its Contract for difference trading function in the UK. Contracts-for-difference, also known as CFDs, are banned in the United States because the US securities law disallows their trading. Irrespective of CFDs being banned in the US, non-US traders are able to trade CFDs on company stocks based in the US.
- We tested communicating with City Index support in multiple languages in multiple countries.
- Clicking on the Daily Briefing Video will take you to a page titled “The Day Ahead.” This takes you to a video outlining the day, including the biggest moves during the week in the markets.
- Users have a choice between City Index’s proprietary Web Trader and other platforms like AT Pro and the industry-standard MT 4.
- Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.
- 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
- I was told my account didn’t exist, it did I had just placed two orders.
The demo account is separate from the live platform, and traders can’t toggle back and forth between the two platforms. City Index offers a standard trading account, a professional account , and two types of demo accounts. City Index offers a wide variety of trading platforms, including robust mobile applications on iOS and Android for on-the-go traders. City Index is a well-regulated broker that offers its customers access to over 12,000 markets across forex, indices, shares, commodities and – in limited countries – cryptocurrencies.
As part of a brokers regulation they are required to clearly disclose any inactivity fees. An account inactivity fee is a fee charged to the registered brokerage client. Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.
AT Pro- The latest downloaded download platform provided by City Index is At Pro, which provides traders with a complete original level of features and special features that enable speed, reliability and graphics. As it stands, I gladly give top marks to City Index’s latest Web Trader platform which succeeded their much slower, clunky Advantage Web. Their current platform is fast, highly customisable, offers very good charting options & updated market news. Clients may e-mail City Index, use the webform, call the help desk, or utilize the live chat function. It is unlikely that traders will require assistance at this well-operated broker, but it is easily accessible in case a need arises. City Index ensures traders have access to a high-quality trading environment developed with cutting-edge tools to generate a competitive edge. City Index offers a range of education resources, including demo accounts and instructional videos.
Does City Index Offer A Demo Account?
Finally, we also considered other factors like payment methods, registration steps, and account types. The City Index review also covers the different trading platforms offered by the broker and how it compares city index spread betting to established players like eToro. City Index is a multi-asset forex, CFD and spread-betting broker based in London, UK. City Index was established in 1983 and trades more than 12,000 international markets.
Is Spread betting gambling?
By its very nature, spread betting leverages every position such that slight incremental movements can increase the winnings by double, treble or more. Spread betting is completely different from gambling, and although both involve placing an initial stake, financial spread betting is a totally different ball game.
New account applications are processed by a four-step online form. The required information is standard operating procedure and grants traders access to the back-office. Per regulatory requirements, a verification process to satisfy AML/KYC requirements are necessary. A copy of the trader’s ID and one proof of residency document will complete the process. City Index maintains three account types and three trader classifications, each with an improved trading environment. Besides core assets, traders have access to a wide range of secondary markets.
Poor Service Again
There is no minimum deposit — City Index recommends $/£/€100 as a starting point. City Index is a Financial Conduct Authority regulated broker with global operations, most notably in the UK, Australia, Singapore, https://en.wikipedia.org/wiki/Tables_of_historical_exchange_rates_to_the_United_States_dollar and the United Arab Emirates. Carey, conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels.Click here to read our full methodology.
What is point spread payout?
POINT SPREAD Payout Table. The more teams you correctly wager on, the more money you can win. You can wager on 2 to 12 games.
Online chat is available to new and prospective clients, but users need to “talk” with an annoying chat robot before getting to a human customer representative. The broker accepts support questions through phone, chat, or email, and a fairly strong social media presence is used primarily to distribute research and marketing materials. The help and support fxcc spread FAQs are well-organized, allowing for quick retrieval of needed information. The City Index API through GAIN Capital appears restricted to institutional and white-label partnerships, lowering the value of the AT Pro backtesting and automated trading capacities. In addition, they offer no VPS hosting, missing an obvious business opportunity.
The MetaTrader 4 demo account starts with a £10,000 virtual balance and gives users access to the forex market. finspreads City Index is an award-winning online broker with many noteworthy achievements throughout the past five years.
More alternative funding options would be a welcome change, and this is an area of improvement that City Index should consider. The minimum withdrawal fxprimus review is £50, with a maximum online amount of £20,000 per single transaction. City Index does not levy transaction fees, but third-party charges may apply.
Currency Com Vs Popular Brokers: Which Is The Best Platform To Invest With?
In regards to leverage and margin based trading you will be exposed to a high risk of loss. Some financial instruments and derivatives that are off exchange may offer varying leverage and may have limited regulatory protection and high market volatility. It should never be presumed that any investment products, techniques, indicators or any other presented resources will result in profits. The platform contains a whole host of useful tools that traders can use to improve their trading efficiency.
Other advice they have includes being more strategic about calculating your stop losses , trading your plan not your emotions , considering your Risk Reward Ratio, and using multiple timeframe analysis . City Index has some additional trading perks, including the ability to transfer unrealized profits from your open positions into margin for new positions, giving you excellent flexibility as a trader. They also offer a futures roll-over discount and the ability to scale in and out of trades in increments (either a FIFO or non-FIFO basis).
City Index offers training and education for both new and novice traders, and those, that are more experienced the programs cover areas such as technical analysis, risk management and trading strategies. However, once our demo account had been created logging in on the mobile app was very straightforward.
These conversions do not matter for spread betting accounts since all trades occur in a single base currency. City Index offers a futures rollover discount of 50 percent on the spread when you automatically roll the futures contract upon expiry. For CFDs, this is done via the phone while city index spread betting spread bets can be done in the platform. It delivers priority service and a dedicated relationship manager for active retail clients. There is also risk management on each trade you place, competitive pricing, and the knowledge that you will never lose more money than your deposit.
UK and Middle Eastern accounts have mandatory negative balance protection, while Australia and Singapore accounts only offer optional risk management features. To get a feel for the size and reliability of GAIN Capital, consider that the company has more than 150,000 retail traders the margin of safety in dollars is around the world and $978 million in client assets. GAIN Capital’s headquarters are in Bedminster, New Jersey, and the company has a global presence with more than 800 staff members around the world. They can use leverage for this product and take both short and long positions.