City Index Review: An Established Broker Worth Considering?

City Index is one of the longest-standing brokers in the trading industry, with a history dating back to 1983. Over the years, it has built a strong reputation as a multi-asset brokerage, offering traders access to a diverse range of markets and professional-grade tools. Owned by StoneX Group, a NASDAQ-listed financial powerhouse, City Index is recognised for its transparency, regulation, and reliability.

The broker operates under strict financial oversight from some of the most respected regulators in the industry, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Monetary Authority of Singapore (MAS), and Cyprus, Canada, UK, Hong Kong, Japan, Cayman Islands. These regulatory bodies ensure that City Index adheres to high financial and operational standards, providing traders with security and trust when using its services.

City Index offers access to over 13,500 markets, including forex, indices, commodities, shares, options, and Thematic Indices. This makes it one of the most versatile brokers available, catering to both retail and professional traders. However, how does it compare to other major brokers in the industry? This review will examine its features, fees, market offerings, and user experience to help traders determine whether City Index is the right fit for their needs.

City Index Information

Main Regulations: FCA (UK), ASIC (Australia), MAS (Singapore)
Trading Instruments: Forex, CFDs, Financial Spread Betting
Range of Markets: Forex, Shares, Indices, Commodities, Bonds, Options
Trading Platforms: Web Trader, TradingView, MT4, Mobile
Key Features: Over 13,000 markets, extensive education and market analysis

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Pros and Cons

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70% of retail investors lose money when trading CFDs with this provider

Full City Index Review

Notable Benefits

Over 12,000 financial markets to choose from and trade on state of the art trading platform with free analytical and technical indicators; WebTrader and MT4 are also available to access all the markets on offer.
Cityindex is one of the oldest and most reputable CFD brokers with a proprietary trading platform to suit anybody’s needs.
Some beginners find the platform a bit overwhelming due to its extensive features and flexibility.

What Sets City Index Apart?

City Index is known for providing traders with a comprehensive trading experience, offering a range of account types, thousands of tradable instruments, competitive fees, multiple trading platforms, and strong support services. In this section, we will break down the broker’s offerings in detail.

Trading Platforms

City Index offers three distinct trading platforms, catering to different types of traders. Whether you prefer advanced technical analysis, algorithmic trading, or a user-friendly web interface, City Index ensures there is a suitable platform for every trader:

MetaTrader 4 (MT4): One of the most widely used trading platforms in the world, MT4 is a favourite among forex traders. It provides a customisable interface, built-in technical indicators, and automated trading capabilities through Expert Advisors (EAs). Traders can take advantage of advanced charting tools, multiple order types, and back testing functionalities. With support for algorithmic trading, MT4 is particularly suited for traders who rely on automated strategies. The platform is available on desktop, web, and mobile, allowing traders to manage their accounts from anywhere.
City Index Advantage Web: This is City Index’s proprietary, web-based trading platform, designed for traders who want a simple yet powerful trading experience without needing to download software. Advantage Web features a customisable workspace, fast execution speeds, and integrated research tools. One of its standout features is the integration of Trading Central insights, which provides real-time market signals and technical analysis. Traders can also benefit from one-click trading and advanced risk management tools, making it an excellent choice for those who need a streamlined platform with built-in market analysis.
TradingView: A web-based charting platform, TradingView is widely regarded for its advanced technical analysis tools and community-driven insights. It offers over 100 built-in indicators, extensive drawing tools, and multiple chart types, making it an excellent choice for traders who rely on price action and technical strategies. TradingView also has social trading features, allowing traders to share ideas, follow market trends, and engage with other traders in real time. This platform is ideal for traders who want a visually rich and highly customisable trading environment with access to community-generated trade ideas and market insights.

Each of these platforms offers unique advantages, giving traders the flexibility to choose the one that best suits their trading needs and experience level. Whether using MT4 for automated trading, Advantage Web for simplicity and research integration, or TradingView for advanced charting, City Index ensures that traders have access to a professional and reliable trading environment.

Account Types

City Index provides multiple account types, each designed to suit different levels of experience and trading preferences.

Standard Account: This is the most common account type, best suited for retail traders. It offers commission-free trading on forex, indices, and commodities, with spreads starting from 0.5 pips. Traders can access all three available platforms (MetaTrader 4, TradingView, and the City Index Advantage Web platform). This account also includes negative balance protection, ensuring that traders cannot lose more than their deposited funds.
DMA (Direct Market Access) Account: Designed for professional and high-volume traders, this account provides raw spreads with direct access to liquidity providers. Traders using this account benefit from lower spreads than those on the Standard Account but must pay a commission per trade. The DMA account also provides faster order execution, making it an attractive choice for traders who need market-depth visibility and institutional-level pricing.
Professional Account: Available only to traders who meet specific financial criteria, this account provides higher leverage (up to 1:400) and lower trading costs. However, it does not include negative balance protection, meaning traders must manage their risk carefully. City Index requires traders to prove sufficient trading experience and financial resources before granting access to this account.
Demo Account: A risk-free trading account that allows traders to practice strategies using virtual funds. This account is ideal for beginners who want to familiarise themselves with the platform before trading with real money. Advanced traders can also use this account to test new strategies or refine their trading techniques.

Range of Trading Instruments

City Index offers an impressive selection of over 13,500 tradable instruments, making it one of the most diversified brokers in the industry. Traders can choose from a wide variety of asset classes, including:

Forex: More than 80 currency pairs are available, covering major pairs (EUR/USD, GBP/USD, USD/JPY), minor pairs (EUR/GBP, AUD/NZD, CAD/JPY), and exotic pairs (USD/ZAR, EUR/TRY, GBP/MXN). City Index offers tight spreads on forex, with spreads as low as 0.5 pips on major pairs.
Indices: City Index provides access to global indices, allowing traders to speculate on the performance of major stock markets. Some of the most traded indices include the FTSE 100, S&P 500, NASDAQ, DAX 40, Nikkei 225, and Hang Seng Index. Index trading is available with low spreads and no commission fees.
Commodities: Traders can access a broad range of commodities, including metals (gold, silver, platinum), energy (crude oil, natural gas), and agricultural products (coffee, wheat, soybeans). Commodities can be traded without commission, with spreads that adjust based on market conditions.
Shares: City Index allows traders to buy and sell shares from global stock markets without owning the underlying asset. Traders can access thousands of stocks from exchanges such as the NYSE, NASDAQ, London Stock Exchange, and ASX. Stock CFD trading is subject to a commission-based pricing model.
Options: Traders looking for advanced risk management strategies can trade options contracts on indices, stocks, and commodities. Options trading provides traders with the ability to hedge positions, generate income, or speculate on volatility.
Thematic Indices: City Index offers a unique selection of thematic indices, which allow traders to gain exposure to specific industries or market trends rather than individual stocks. These indices include technology, energy, healthcare, and emerging markets.

No Cryptocurrency Trading for UK Retail Clients – Due to FCA regulations, City Index does not offer cryptocurrency trading for retail traders in the UK.

Fees and Spreads

City Index is highly competitive in terms of pricing, offering low spreads and commission-free trading on many asset classes. Here’s a breakdown of the fee structure:

Forex Trading Costs: Spreads start from 0.5 pips on major pairs such as EUR/USD and GBP/USD. No additional commission is charged for forex trading, as costs are included in the spread.
Indices & Commodities: Trading major indices like the FTSE 100, S&P 500, and DAX 40 is commission-free, with spreads as low as 1 point. Commodities, including gold, silver, oil, and agricultural products, also feature competitive spreads without additional commission fees.
Stock CFDs: Commission-based trading is applied to stock CFDs, with fees starting at 0.08% per trade. Minimum commissions vary by region, with UK and US stocks typically requiring a £10 or $10 minimum commission per trade.
Options Trading Costs: Options pricing is variable, depending on the contract size, volatility, and market conditions.
Overnight Financing Fees: If traders hold leveraged positions overnight, a swap or overnight financing fee is applied. This fee is based on the interest rate of the underlying asset plus a broker markup.
Inactivity Fee: City Index charges a $15 monthly inactivity fee if an account has no trading activity for 12 months. This fee can be avoided by placing at least one trade per year.

City Index provides clear pricing information and ensures that traders understand the costs before executing trades.

Deposit & Withdrawal Options

City Index offers several payment methods, making it easy for traders to deposit and withdraw funds efficiently:

Bank Transfers: Best for large deposits, but processing times can take 1–3 business days.
Credit/Debit Cards: Instant deposits via Visa and Mastercard, allowing traders to start trading immediately.
E-Wallets (PayPal, Skrill): Provides fast and secure deposits, with funds available instantly.

Deposits & withdrawals are fee-free, but traders should check with their banks or payment providers for any external charges.

Educational Resources

City Index also excels in trader education, providing structured learning materials for traders at all levels:

Webinars & Trading Courses: Covering technical analysis, risk management, and trading psychology.
Market Analysis & Insights: Daily updates on market trends and price action strategies.
Platform Tutorials: Guides for using MT4, TradingView, and Advantage Web effectively.

The combination of strong customer support, in-depth educational resources, and market analysis tools makes City Index an excellent choice for traders who want a well-rounded experience.

City Index Pros and Cons

Every broker has its strengths and weaknesses, and City Index is no exception. While it offers a well-regulated trading environment, a wide range of instruments, and competitive fees, there are certain areas where it falls short. Below is a detailed breakdown of City Index’s biggest advantages and drawbacks, helping traders decide whether it’s the right broker for their needs.

Pros

Broad Market Access: One of City Index’s standout features is its extensive range of tradable instruments, with access to over 13,500 markets. This includes forex, indices, commodities, shares, options, and thematic indices, making it one of the most versatile brokers in the industry.
Multiple Trading Platforms: City Index provides traders with a choice of three different platforms, ensuring that both beginners and experienced traders can find one that suits their needs. MT4 is perfect for forex traders and automated strategies, Advantage Web offers a user-friendly, research-integrated experience, and TradingView provides advanced charting tools with community-driven insights.
Strict Regulation and Fund Security: City Index operates under multiple top-tier regulators, including FCA (UK), ASIC (Australia), MAS (Singapore), and more. This ensures strong financial oversight, investor protection, and strict compliance with industry standards. Client funds are held in segregated accounts, adding an extra layer of security.
Competitive Spreads and Transparent Fees: Forex spreads start from 0.5 pips on major pairs like EUR/USD, and indices such as the FTSE 100 and S&P 500 can be traded commission-free with tight spreads. Stock CFD commissions start at 0.08% per trade, making City Index a cost-effective choice for traders looking to minimise fees.
Advanced Research and Market Insights: City Index integrates Trading Central and Market 360, offering traders real-time trading signals, technical analysis, and expert market research. In addition, the broker provides daily market insights, price action strategies, and economic reports, keeping traders informed about the latest financial trends.
Well-Developed Educational Resources: City Index offers structured trading courses, live webinars, and detailed platform tutorials, making it a strong choice for both beginners and experienced traders. Whether learning the basics of technical analysis or refining a trading strategy, City Index provides valuable educational tools to help traders improve.
Flexible Deposit and Withdrawal Options: City Index supports multiple funding methods, including bank transfers, credit/debit cards, and e-wallets like PayPal and Skrill. Deposits are processed instantly, and most withdrawals are completed within 24 hours, ensuring traders can access their funds quickly when needed.

Cons

No Support for MetaTrader 5 (MT5): While City Index offers MT4, it does not support MT5, which is considered an upgraded version with more advanced trading features, additional order types, and a broader range of assets. This may be a deal-breaker for traders who prefer MT5’s improved functionality.
No Social or Copy Trading Features: Unlike some brokers that provide built-in copy trading, City Index does not offer this functionality. Traders looking to follow or copy professional traders’ strategies will need to use external services, as City Index does not support social trading platforms.
Limited Micro Lot Trading: While City Index supports flexible position sizing, micro lot (0.01 lot) trading is not available for all markets. This could be a disadvantage for beginners or traders with smaller accounts who want to trade with minimal risk.
Inactivity Fee: If a trader does not place any trades for 12 months, City Index charges a $15 monthly inactivity fee. While this is a common industry practice, it can be frustrating for casual traders who don’t trade frequently.
No Cryptocurrency Trading for UK Retail Clients: Due to FCA regulations, City Index does not offer cryptocurrency trading to retail traders in the UK. Traders who want access to Bitcoin, Ethereum, and other crypto assets will need to find a different broker.

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City Index FAQs

Why trade with City Index?

City Index offers a secure and regulated trading environment with access to over 13,500 financial instruments, including forex, stocks, indices, and commodities. Traders benefit from competitive pricing, multiple trading platforms, and integrated research tools such as Trading Central. The broker also provides a strong educational offering, making it suitable for both beginners and experienced traders.

Is City Index trustworthy?

Yes, City Index is considered trustworthy as it operates under strict oversight from leading regulators, including the FCA in the UK, ASIC in Australia, MAS in Singapore. The broker is also owned by StoneX Group, a publicly traded financial services firm listed on NASDAQ, adding to its credibility. Client funds are held in segregated accounts, providing an additional layer of financial security.

How does City Index make money?

City Index primarily makes money through spreads, commissions, and overnight financing fees. Forex, indices, and commodities are commission-free but have spreads built into the price. Stock CFDs and options involve commission-based pricing. If a trader holds a leveraged position overnight, they will be charged a swap fee based on the interest rate of the underlying asset. Additionally, City Index charges a $15 monthly inactivity fee after 12 months of no trading activity.

Who regulates City Index?

City Index is regulated by several top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Monetary Authority of Singapore (MAS), the Dubai Financial Services Authority (DFSA), and many more. These regulatory bodies ensure that the broker operates within strict financial and security guidelines, giving traders peace of mind regarding fund protection and trading transparency.

What is the minimum stake size at City Index?

The minimum stake size varies depending on the asset class. For forex trading on MT4, traders can place trades as small as 0.01 lots (micro lots). Indices, commodities, and stock CFDs have different minimum position sizes based on the instrument being traded. For precise details, traders should check the specifications for each asset on the City Index platform.

What is the minimum deposit for City Index?

City Index does not have a fixed minimum deposit for its standard trading accounts, allowing traders to start with any amount they are comfortable with. However, some account types, such as DMA (Direct Market Access) accounts, may require a higher minimum balance to access premium pricing and lower spreads. Deposits can be made via bank transfers, credit and debit cards, or e-wallets such as PayPal and Skrill.

Who can trade with City Index?

City Index serves traders in multiple countries but adheres to regulatory restrictions in some regions. Traders must be at least 18 years old and comply with the financial regulations of their respective jurisdictions. The broker operates in major financial hubs such as the UK, Australia, Singapore, UAE, and South Africa but does not accept clients from countries where leveraged trading is restricted.

What trading platforms does City Index have?

City Index provides three trading platforms tailored to different trading needs. MetaTrader 4 (MT4) is ideal for forex traders who require automated trading and advanced charting. The Advantage Web platform is a web-based trading platform with built-in market analysis and fast execution. TradingView is a powerful charting platform known for its extensive technical analysis tools and a trader community for market insights.

City Index – The Verdict

City Index is a well-regulated and reputable broker offering a diverse range of tradable markets, competitive pricing, and multiple trading platforms. Its regulation under FCA, ASIC, MAS ensures strong financial oversight, making it a trusted choice for traders who prioritise security.

The broker stands out for its broad market selection, with access to forex, indices, stocks, commodities, and options. It also provides high-quality research tools, advanced charting platforms, and educational resources, making it suitable for both new and experienced traders. However, the absence of MetaTrader 5 (MT5), copy trading features, and cryptocurrency trading for UK retail clients may limit its appeal for some.

Overall, City Index is a solid option for traders looking for a well-established broker with strong research tools and a wide range of markets. While it may not be the best fit for those seeking social trading or crypto exposure, it remains a reliable choice for traders who value regulation, research, and platform flexibility.