One of the world’s largest multi-asset brokers, City Index was originally founded in 1983 in the United Kingdom. Currently, City Index is considered one of the world leaders in spread betting and CFD trading. Based in London, this broker is going strong for over 35 years. Offering traders, the ability to trade Contracts For Differences (CFDs), spread-betting derivatives and a growing list of forex pairings. City Index was purchased by GAIN Capital Holding in 2015, and now has $1.2 billion in customer assets, 235,000 accounts, and over $3.1 trillion in total annual trading.
Regulations and Security
City Index has its headquarters in London and is regulated by one of the better regulatory bodies in the world In the Financial Conduct Authority (FCA) in the U.K. Being regulated by FCA allows City Index to be MiFID accepted. Since their owner GAIN is an international giant, they are regulated across the globe. Through GAIN, City Index is also regulated by IIROC in Canada, ASIC in Australia, SFC in Hong Kong, MAS in Singapore, and FSA in Japan.
City Index prioritizes the security of their members. GAIN’s heavy regulation allows for heavy oversight and great and rapid handling of customer complaints. Through the use of the latest SSL encryption technology available, your privacy and security are safeguarded against online thieves.
City Index offers traders three methods to fund their accounts. These three options are Debit & Credit Cards (Visa, MasterCard, Maestro, and Electron) and Bank Wire Transfers. Each method is quite fast and cost-free, but Debit and Credit Cards test to be the fastest options available. The minimum deposit required is $100.00 to get started.
To withdraw your money, you will need to have the same methods available for deposits. The minimum withdrawal required is $50.00 and the maximum allowed is $20,000. Again, wire transfers seem to be the slowest option while credit/debit cards process much faster.
There are four account types for users to choose from with City Index: City Index Demo, MT4 Demo, Standard, and VIP. The City Index Demo account allows users to trade using $2,500 of virtual cash for two weeks. This allows traders to get familiar with the City Index setup and build experience and become familiar. Doing all this without risking any real capital is a good reason to start here. MT4 Demo allows you to use MetaTrader4 for four weeks and $10,000.
Once you have a decent understanding, make your initial deposit and switch to the standard account and invest with real capital for real earns. There are several tools, expert analysis, and features you will get access too, with a standard account. The VIP account is an invite-only program that is full of different benefits. Such as 24-hour senior trader help, interests paid on cash balances, access to VIP events, and a flexible margin rate.
City Index has three different trading platforms for you to choose from:
- The web-based homegrown proprietary platform titled Advanced Trader.
- AT Pro for more advanced traders and people looking to make use of the automated trading software and pre-loaded features and strategies.
- The final offering is the most popular and resilient MT4 system created by MetaQuotes Software Corporation. The single most popular trading platform in the world.
City Markets is one of the most established brokers with over three and a half decades of experience. Especially once GAIN took over, things changed drastically. Suddenly regulations started pouring in and City Market has made the most of it.