City Index Review
4.5
CFDs, or Contracts for Difference, commonly known as CFDs, are sophisticated financial instruments that come with a considerable risk of experiencing rapid financial losses, largely due to the leverage they involve.
Studies have shown that approximately 72% of retail investor accounts incur financial losses when they participate in CFD trading with this specific provider.
Before you engage in trading CFDs, it is crucial for you to take the time to thoroughly evaluate whether you fully understand the mechanics of how CFDs operate.
Additionally, you should consider whether you have the financial means absorb the potentially significant risks that could lead to loss of your invested funds.
City Index is widely regarded as a premier trading platform that offers a range of-grade services tailored for traders across the globe. With its cutting-edge trading technology,
a vast selection of tradable instruments available to its users, and a steadfast commitment to ensuring client satisfaction,
City Index stands out as a highly trusted and dependable option for those seeking a robust and rewarding trading experience.
-
Part of StoneX Group (NASDAQ), is regulated in three top-tier jurisdictions, ensuring safety for forex and CFD trading
-
Fast and smooth account opening process
-
Low fees for forex trading
Overview
Year founded
Minimum deposit
Withdrawal fee amount
Available Offerings
Platforms available
1983
0$
0$
Forex, CFD, Crypto
Desktop, Mobile, Web
Account Opening
City Index offers a fully digital and swift account opening process with no minimum deposit requirement. They provide three different types of accounts: Trader, Premium Trader, and Professional. These accounts vary in terms of required account balance, maximum leverage, and additional services provided. You have the option to open an individual or corporate account, depending on your ownership status. If you are in the UK, you also have the opportunity to trade using a Self-Invested Personal Pension (SIPP) account. The process to open an account is entirely digital and involves three simple steps. First, you need to provide your personal and financial information. Next, you will indicate your trading experience and complete a knowledge test. Finally, you will need to verify your ID and residency. For ID verification, you can upload a national ID, passport or driver's license. Residency can be verified through utility bills or bank statements.
Safety
City Index operates under the ownership of StoneX Group Inc., which is publicly listed on the NASDAQ Stock Exchange. It is a regulated entity overseen by reputable authorities such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). To ensure client protection, City Index offers negative balance protection specifically for forex spot and CFD trading through StoneX Financial Ltd. (UK) and StoneX Financial Pty Ltd. (AU), but this protection is applicable only to retail clients onboarded under the FCA or ASIC. Professional clients and those outside the European Union or Australia do not have negative balance protection coverage. City Index operates through various legal entities across the globe, and the specific entity serving you depends on your residency. The amount of investor protection you are eligible for is determined by the regulations of the country where the serving entity is located. Established in 1983, City Index is headquartered in USA.
Risk Disclaimer
Trading securities carries a significant level of risk. When it comes to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is substantial exposure to various risks. These risks include, but are not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility. They can have a significant impact on the price or liquidity of a currency or related instrument. It is important to note that the methods, techniques, or indicators provided in these products may not necessarily yield profits, and there is a possibility of incurring losses. For more information on the risks associated with forex trading, please refer to further resources.
Summary
City Index offers competitive forex fees, along with a hassle-free account opening process that doesn't require a minimum balance and doesn't charge withdrawal fees.
As a CFD and forex broker, City Index is regulated by three esteemed jurisdictions, ensuring a high level of trust and security.
However, it's important to note that City Index does have some limitations. The product portfolio is somewhat restricted, and stock CFD fees tend to be on the higher side.