CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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.
We conducted our City Index broker review to look at the background of the broker and the broker platform trading tools. We compared City Index using our multi-pointed approach to look at trading styles, markets, trading tools, trader charts how the City Index fees compared to other stock trading, CFD and forex brokers.
City Index is a multi-asset broker that has been operating in the markets since 1983 and is regulated in the UK (FCA), Australia (ASIC) and Singapore (MAS). From those early times, through to the current day it has prioritized developing the user experience of its traders and now has offices in London, Dubai, Shanghai, Hong Kong, Singapore and Sydney. With a reputation for being one of the top tier platforms for trading CFDs and Spread Betting it provides a wide-reaching service that is popular with both new and experienced traders in more than 150 countries.
Markets offered include: stocks, indices, forex, cryptocurrencies, options, futures, commodities, bonds, interest rates and ETFs. City Index is a long-established, well regulated, provider of user friendly access to the global markets.
City Index Fees
4
Our City Index broker review showed that City Index spreads are comfortably in-line with those of the other multi-asset broker platforms. It offers traders fixed or variable spreads and the execution monitor (on desktop and mobile platforms) displays the spread at time of trade to ensure traders are aware of the terms of the deal.
Trading Platforms
5
Our City Index broker review showed that they offer traders the choice of a few different trading platforms:
Web Trader
iOS Trading Apps
Android Trading Apps
AT Pro Downloadable Platform
MT4
MetaTrader4
MetaTrader4 (MT4) comes with an impressive array of features, enhanced by City Index’s service, support and pricing.<
Web Trader
Experience intelligent tools and features to help you trade the markets.
Advanced charts with custom indicators
Fast and reliable HTML5 technology
Customisable workspaces
Mobile Trading App
4
City Index has been providing mobile trading since 2009. Being something of a pioneer in this space saw them being awarded Best Mobile Trading Platform award as far back as 2010 and 2011 (Money AM Online Finance). They have continued to build off that early success and today offer a fully comprehensive mobile trading service.
The current version of the mobile app is a robust and streamlined means of managing your account. It even includes some of the educational and research functionality found on the desktop version.
There are some desktop tools that are not transposed into the mobile app but in terms of user experience, these tend to sit better in the desktop version. When you consider the extensive range of technical indicators which can be added to a single mobile chart it becomes evident that what is included in the mobile app will be sufficient for most users.
Market Research
5
A variety of research and analysis tools are incorporated into the Advantage Web dashboard. Having them close to hand when actually executing trades is certainly a plus point. Working in Demo mode it was possible to experiment and put on test positions in strategies that we might not normally follow. The trade analysis was well presented and easy to follow making this kind of hands-on learning particularly beneficial.
One monitor brought up a range of trade ideas based on technical analysis.
Another broke the ideas down by currency pair meaning we could test out the in-house proposals in our favored markets.
Whereas the web based platform specializes in ease of use, the AT Pro platform focuses on providing a more advanced research and analysis experience.
AT Pro directs traders to the type of research they favour with early signposts to areas specializing in Fundamental Research or Technical Analysis.
There is a real sense of the research being up to date and pertinent. Market News provides information on Company Earnings, the Economic Calendar and a Daily Briefing Video. Having all this information in one place making it easy to prepare for a day’s trading.
Going down one more level allows more detailed analysis of favoured topics ranging from Indices News to Brexit Updates.
As well as offering all of these services, City Index through a relationship with Recognia offers further research materials and ideas. The Recognia research being broken down into: Recognia Technical Insight, Recognia Featured Ideas and Recognia Analyst Views. The platform again providing traders with the opportunity to focus their attention on technical or fundamental analysis.
Further third-party research is available from the share-tipping Faraday Research group. Whilst City Index and Faraday are part of the same group of companies (Gain Capital Holdings Inc) Faraday are well regarded in the market and the relationship appears sufficiently arms-length to consider the research to be taken on its merits rather than through obligation.
Customer Service
3
The Help Desk is available 24/5.
When doing the City Index broker review, we found the Live Chat support function we still had to navigate around the road block that is their Chat Bot program. Conversations with the City Index Bot are particularly circuitous and although we were ultimately able to ‘transfer to support agent’ we would, if a query was time sensitive, feel that the quickest way to get help would be to phone the call centre. Having means of communication restricted in this way is not ideal.
The site contains prompts that invite customer feedback and this request appears a sincere attempt to enhance the user experience. New developments to the site are notable and highlighted in the Help and Support area entitled ‘New Features’ where the upgrades are explained.
Address: 16 Finsbury Circus London, EC2M. United Kingdom.
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