City Index does not levy transaction fees, but third-party charges may apply. City Index offers 65 forex pairs and 17 indices, as well as CFD trading in over 4,500 shares of very popular companies from the U.S., Europe, and Asia. Their offer of CFDs is limited in some respects, but that’s hardly a huge drawback.
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This selection is based on objective factors such as products offered, client profile, fee structure, etc. Withdrawals are free and no minimum deposit is needed to open an account. However, £12 per month is charged to accounts with no activity for one year or longer. Withdrawal and other fees are fully disclosed on an easy-to-read pricing page that contained few omissions. The support team provided a fast and professional response when questioned, and the broker also makes a well-stocked FAQ section available on their website at all times.
City Index trading fees
Make sure you’re fully aware of all City Index fees and services. It’s recommended that you check the City Index website before signing up. If you decide to close your City Index account, it’s important to do so with the City Index broker customer support and obtain confirmation that no remaining City Index fees are due. In addition, currency conversion fees may apply if the City Index withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from City Index.
- All in all, there’s little to worry about when it comes to trading with this broker.
- The City Index app is available for both iOS and Android devices.
- For compliance purposes, City Index must transfer your funds back to the original source you used to fund your account.
- One is the embedded economic calendar, which comes with some advanced filter options.
But if you are withdrawing online without credit cards, the minimum withdrawal is £20,000 in a single transaction. This means you can carry out multiple transactions but you cannot exceed the £20,000 limit per transaction. Furthermore, Citibank cards cannot be used for funding, and City Index does not accept cash payments directly into their bank account.
Do we Recommend City Index for UK Traders?
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What is the leverage on city index?
What is leverage? Leverage allows traders to open positions on markets without the need to cover the total exposure of that market. As an example, if you trade a market with 50:1 leverage, that means you'll be able to open a position with a margin requirement of 2% – so for just £1 you can open a position worth £50.
The broker offers central counterparty clearing on “certain markets” through the Omnibus Segregated Clearing Account (OSCA). A separate application is required to gain access to this account functionality. City Index has built an impressive research portal, with in-house analysts providing daily market outlooks and updates through a tag-based news page that’s full of fundamental and technical reports. The site also posts some news videos on YouTube, but poor integration between YouTube and website video content makes it more difficult to find topics of interest.
What is the minimum deposit at City Index?
Which really drills down into where you are trading well and where you are losing money. City Index offers some of the best trading tools and analysis to help traders perform better. Their unique post-trade analytics and voice brokerage service make it an excellent choice for large and frequent traders.
Accounts can be opened in a good range of currencies including USD, GBP, EUR, CHF, JPY & NZD. The various different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. The “Premium Trader” account is an invitation only private retail account that comes with a priority service. It also has competitive pricing, negative balance protection with the added benefits of a relationship manager, invitations to premium events and dedicated broker assisted dealing.
City Index Review 2023
We compare brokers by calculating all the fees of a typical trade for selected products. Customer support hits all the bases, with 24/5 phone support through London local and international phone numbers. 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.
What is a city index?
City Index is a global spread betting, FX and CFD Trading provider.
The first thing I noticed when I opened the demo account was how clear and user-friendly the interface was. I could easily change my themes, https://traderoom.info/chapter-8-information-systems-lifecycle-and/ pick the charts I want to see, and create and switch between the tabs. The City Index app is available for both iOS and Android devices.
Trading Central
The company also facilitates a variety of options trading, though City Index didn’t make our current list (2021) of the best brokers for options trading. City Index is an award-winning online broker with many noteworthy achievements throughout the past five years. These include the best CFD provider award (2016), best spread betting service (2017), and best mobile platform (2018).
Where is City Index based?
City Index is located in London, England, United Kingdom . Who are City Index 's competitors?