See our top-rated brokers for Best US Forex Brokers for 2021

×
ForexBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure

City Index Review

Steven Hatzakis

November 19th, 2021
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

Backed by GAIN Capital, City Index is a trusted brand that traders choose for its advanced trading platforms, excellent mobile app, diverse market research, education, and extensive range of markets.

Top Takeaways for 2021

Here are our top findings on City Index:

  1. Part of GAIN Capital and publicly traded under StoneX Group (NASDAQ: SNEX), City Index is regulated in three tier-1 jurisdictions, making it a safe broker (low-risk) for forex and CFDs trading.
  2. City Index’s proprietary platforms, ATP Pro (desktop) and Web Trader (browser), offer a brilliant combination of advanced trading tools and integrated research. I do not recommend City Index’s MetaTrader offering, which includes a smaller product range.
  3. Thanks to offering a competitive package that will satisfy any trader, City Index finished Best in Class across multiple core categories in 2021, including Offering of Investments, Platform and Tools, Research, Mobile Trading, Education, and Crypto Trading.

Overall Summary

FeatureCity Index
Overall 4.5 Stars
Trust Score99
Offering of Investments 5 Stars
Commissions & Fees 3.5 Stars
Platforms & Tools 4.5 Stars
Research 4.5 Stars
Mobile Trading 4.5 Stars
Education 4.5 Stars

Is City Index Safe?

help 99
Trust Score

City Index is considered low-risk, with an overall Trust Score of 99 out of 99. City Index is publicly traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), one tier-2 regulators (average trust), and one tier-3 regulator (low trust). City Index is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), and the Financial Conduct Authority (FCA). Learn more about Trust Score.

Regulations Comparison

FeatureCity Index
Year Founded1983
Publicly Traded (Listed) Yes
Bank No
Tier-1 Licenses3
Tier-2 Licenses1
Tier-3 Licenses1
Trust Score99

Offering of Investments

Like other brokers in the UK, City Index offers spread-betting across its available markets, providing tax efficiencies for UK residents, compared to CFDs. City Index also offers forex options and forwards. The following table summarizes the different investment products available to City Index clients.

Cryptocurrency: Cryptocurrency trading is available through CFDs, but not available through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's UK entity, nor to UK residents.

City Index offering of investments:

FeatureCity Index
Forex Trading Yes
CFD Trading Yes
Tradeable Symbols (Total) 4500
Forex Pairs (Total)65
US Stock Trading (Non CFD) No
Int'l Stock Trading (Non CFD) No
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading / Copy-Trading Yes

Commissions and Fees

Overall, pricing on City Index’s forex, CFDs, and spread-betting products are in line with the industry average. For the best pricing, use City Index’s proprietary platforms or MetaTrader.

CFD account: With typical average spreads on the EUR/USD of 1.1 pips, as of August 2020, the all-in cost for all traders is slightly above the industry average, while behind the best forex brokers in this category, such as IG and Saxo Bank.

MetaTrader: Compared to its flagship platforms, spreads on City Index’s MetaTrader4 (MT4) account are the same on the EUR/USD over the same period referenced above.

Active trader rebates and discounts: The rebates in the UK for professional traders range from £4 per million if you do more than £25M per month, and can reach £7.5 per million for volumes above £300M per month. Likewise, in Australia, rebates range from AUD $4.5 per million for tier one to AUD $13 per million for tier-3.

Gallery

City Index pricing summary:

FeatureCity Index
Minimum Deposit £100.00
Average Spread EUR/USD - Standard1.1 (August 2021)
All-in Cost EUR/USD - Active1.1 (August 2021)
Active Trader or VIP Discounts Yes
Execution: Agency Broker No
Execution: Market Maker Yes

Platforms and Tools

City Index’s proprietary ATP Pro (desktop-based) and Web Trader (browser-based) platforms deliver a rich experience with access to City Index’s full product offering. I do not recommend MetaTrader (MT4) at City index due to its limited range of tradeable markets.

Advanced Trader Pro (AT Pro) desktop: While Web Trader is designed for everyday traders, AT Pro is built for experienced traders. AT Pro offers robust charting (139 indicators, 25 drawing tools) and a Development Studio with automated trading functions, including the ability to backtest potential strategies using historical data. Over 100 trading systems come pre-loaded.

Web Trader: I found WebTrader is responsive, flexible, and easy to use. Charts are powered by Trading View and come with nearly 90 indicators and a vast array of drawing tools. It was easy to search across markets, from popular watchlists to accessing integrated research.

The only caveat with Web Trader is setting up a new workspace as widgets must be manually arranged. Aside from that minor nuance, the platform offers a good variety of features, including support for complex order types such as OCOs and trailing stops. Watchlists sync with mobile, and there is module linking, so clicking on a symbol will update the existing chart.

Advantage Web: For whatever reason, City Index still offers its older, legacy platform, Advantage Web, which relies on Adobe Flash. Flash isn’t even supported anymore in modern browsers, so needless to say, Advantage Web is best avoided.

Gallery

City Index trading platform:

FeatureCity Index
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No
cTrader No
DupliTrade No
ZuluTrade No
Charting - Indicators / Studies (Total)139
Charting - Drawing Tools (Total)269
Charting - Trade From Chart Yes
Watchlists - Total Fields20
Order Type - Trailing Stop Yes

Research

City Index delivers high-quality market research that scores above the industry average.

Research tools: Highlights include daily editorial from City Index’s team of analysts, Trading Central’s suite of research tools - which are conveniently integrated directly into City Index’s flagship platforms - and news headlines from Thomson Reuters. There is also an economic calendar powered by FxStreet and an SMS alert service for clients that wish to receive trading ideas directly to their phone.

Written articles: There are multiple research and analysis articles published each day on City Index’s website and platforms, produced by in-house staff and third-party analysts. Thanks to clean filtering options, City Index makes it easy to explore research and news.

Video content: City Index offers long and short length video. The Day Ahead series offers traders longer video clips at nearly ten minutes each, compared to the shorter daily market updates on City Index’s YouTube channel. Both provide a good balance of quality news and analysis from the firm’s in-house research team, alongside analysts from Trading Central.

Gallery

City Index research:

FeatureCity Index
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars No
Autochartist No
Trading Central (Recognia) Yes
Delkos Research No
Social Sentiment - Currency Pairs Yes
Economic Calendar Yes

Education

City Index offers a rich experience of educational content that will satisfy beginner traders.

Written content: Ten articles in City Index’s training center cover basic categories, ranging from forex and CFD trading to managing risk. I found additional articles, including advanced subjects such as one titled “Options Trading Strategies.”

Video format: There are six videos available from City Index’s Trading Academy series, a television show about novice traders learning over six weeks. Its Celebrity Trader series has a similar theme, except celebrities give their views and trading tips. Eighteen videos are available on the video library on City Index’s website. Archived webinars such as the “Become A Trader” series are available on City Index’s YouTube channel, with six videos each at least an hour long.

Gallery

City Index education:

FeatureCity Index
Has Education - Forex or CFDs Yes
Client Webinars Yes
Client Webinars (Archived) Yes
Videos - Beginner Trading Videos Yes
Videos - Advanced Trading Videos Yes
Investor Dictionary (Glossary) Yes

Mobile Trading

The City Index mobile app is cleanly designed and competes alongside category leaders IG, CMC Markets, and Saxo Bank. The app offers a smooth experience whether you are adding alerts, depositing money into your account, reading news headlines, or placing trades. The MT4 mobile app is also available at City Index.

City Index mobile app tools: Charts are powered by Trading View and come loaded with over 80 indicators, and there are even more drawing tools available to assist your technical analysis. Trading Central is also directly integrated into the City Index mobile app, with several modules available, including the Technical Insights, Featured Ideas, and Analyst Views sections. Finally, there is support for complex order types, including OCOs, the ability to close all trades in one order for a given instrument, and trailing stop-loss orders.

Gallery

City Index mobile trading:

FeatureCity Index
Android App Yes
Apple iOS App Yes
Alerts - Basic Fields Yes
Watch List Yes
Watch List Syncing Yes
Charting - Indicators / Studies88
Charting - Draw Trendlines Yes
Charting - Trendlines Moveable No
Charting - Multiple Time Frames Yes
Charting - Drawings Autosave Yes
Forex Calendar Yes

Final Thoughts

Across its offices in Europe and Asia-Pacific, City Index provides multiple options for traders to access global markets, including 65 spot forex pairs, 15 forwards, and over 4500 CFDs on several trading platforms.

Hands down, City Index caters well to traders regardless of experience level.

About City Index

Founded in 1983 in the United Kingdom, City Index has grown to become one of the leading multi-asset brokers after its acquisition in 2015 by GAIN Capital Holdings, the operator of FOREX.com. City Index’s parent, StoneX Group Inc (NASDAQ: SNEX), is a Fortune 500 company. City Index is a trading name of GAIN Capital, which holds $3.9B in customer equity as of Q2 2020, and caters to over 295,000 traders worldwide. City Index has over 30 years’ experience providing traders with Contracts for Difference (CFDs) and spread-betting derivatives. Read more on Wikipedia.

2021 Review Methodology

For our 2021 Forex Broker Review we assessed, rated, and ranked 27 international forex brokers over a three-month time period resulting in over 50,000 words of published research.

Each broker was graded on 108 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure (read about Trust Score here).

As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.

Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.


About the Author

Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.








Compare City Index Competitors

Select one or more of these brokers to compare against City Index.





Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

The names, products, services, branding/logos, and other trademarks or images featured or cited within this Website (www.forexbrokers.com) are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with ForexBrokers.com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses ForexBrokers.com or any of its reviews, products, or services. ForexBrokers.com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.

arrow_drop_upBack to top