City Index Platforms | How City Index Platforms Work

Introduction

City Index is one of the oldest forex and CFD brokers since 1983. It has over 12,000 markets including indices, shares, and forex pairs. City Index is also listed on the stock exchange NASDAQ and regulated by top-tier financial authorities like the FCA in the UK.

City Index works on its customized trading platform as well as the MetaTrader 4 platform. Both of these platforms have their own features, advantages,and disadvantages. We will explain both of them in this section.

City Index

The City Index application platform works on different operating systems like desktop, web, and mobile. In this section, we will dig deeper into each aspect of it.

Languages

Unfortunately, the City Index application is available only in English.

User interface (UI)

The UI of City Index app is user friendly and has all functionalities at the right places.

City Index – Mobile Platform – UI

Login and Security

Unfortunately, City Index does not support two-factor authentication method for login and only support one-step verification with the username and password.

City Index – Mobile Platform – Login

Searching

The searching function in the City Index app works fine and you can search for the trading instruments you want without any problem.

City Index – Mobile Platform – Searching

Placing orders

There are various types of orders at City Index which are:

1. Market
2. Limit
3. Stop
4. Trailing stop
5. One-cancels-the-other (OCO)
6. Good ’til canceled (GTC)
7. Good ’til end of the day (GTD)
8. Good ’til time (GTT)

City Index – Mobile Platform – Place Order

Notifications and alerts

City Index app allows you to set notification and price alerts on the mobile trading platform in order to be updated.

City Index – Mobile Platform – Notifications

Portfolio and reports

The portfolio and reports at City Index looks good and you can know basic information at a glance.

City Index – Mobile Platform – Portfolio

MT4 Platform

Languages

MetaTrader 4 is available in a number of languages like:

MT4 Languages

User interface (UI)

MT4 has a very customizable UI that you can adjust according to your needs and preferences. On the other hand, it seems hard to find some of the features inside.

MT4 – Mobile Version – UI

Login and Security

Unfortunately, the MT4 does not provide a two-step verification method for logging in, and it does only support a one-step login.

Searching

Searching using the MT4 platform has two different options:

• You can search by categories and find assets.
• You can also type the name of the asset and search for it manually.

MT4 – Mobile Platform – Search

Placing orders

MT4 has a simple order types which are:

1. Market
2. Limit
3. Stop
4. Trailing stop

In addition to those 4 types, there are other orders which are the time limit ‘Good ‘til time’ (GTT) and ‘Good ’til canceled’ (GTC).

There’s also an order confirmation feature in MT4.

Notifications and alerts

Unfortunately, the MT4 web trading platform does not have an option to set price alerts and notifications unlike the desktop and mobile versions.

MT4 – Mobile Version – Notifications Settings

Portfolio and reports

Under the ‘History’ tab, you can find your portfolio reports with a clear fee description.

MT4 – Mobile Version – Portfolio

MT5 Platform

MT5 is a free application for traders allowing them to perform technical analysis and trading operations in the Forex and exchange markets.

Languages

MT4 does support over 20 languages including English, French, Spanish, Italian, Japanese, and Chinese.

User interface (UI)

MT5 was launched in June, 2010. It has about 1 million users worldwide. It also has a good interface which is similar to MT4 with the main functionalities available. MT5 is more suitable for advanced traders.

MT5 desktop version

MT5 – Mobile Version

Security

MT4 encrypts your trading data with all of your information from cyber attacks as well as not revealing your IP address while trading using the platform.

From a login perspective, MT4 has a two-step verification method as well to protect your account from hacks.

Research

MT5 offers financial and forex news from international agencies and provides a daily broadcast of dozens of newsletters from global events. MT5 also provides you with powerful and clear searching tools.

MT5 search

Placing orders

MT5 has the same order types as the MT4 platform which are:

• Market
• Limit
• Stop
• Trailing stop

In addition to these 5 order types, the MetaTrader 5 platform has two more order options which are:

• Buy stop limit
• Sell stop limit

Like the MT4, MT5 has ‘stop loss’ and ‘take profit’ options while trading as well.

Notifications and alerts

MT5 has instant notifications and alerts in its system to never miss an opportunity in the market.

Reports

The MT5 platform carries news reports from international news agencies and also sports an economic calendar.

3. FAQs

1. How long does it take to verify my account?

• It happens immediately after submitting your application except if there are some other documents you should submit.

1. Does City Index give a bonus?

• City Index Deposit bonus is not a reliable deal. It offers a small percentage of incredibly high deposits.

1. Does the City Index allow scalping and hedging?

• City Index does not allow scalping but does allow hedging.

1. Where is my money held?

• In segregate accounts.

1. How do I login using the MT4 mobile platform?

• Steps:

1. Go to ‘Settings’

2. Click on ‘Manage Accounts’ or ‘Settings’

3. Then click on the small plus sign or select ‘New Account’

4. Then select ‘Log in to an existing account’

5. Search for the broker name

6. Select the server your account was set up on

7. Enter your login credentials and password

8. Click on ‘Sign In’

1. When will my demo account expire?

• After 30 days.

1. When trading forex, will you lose more than your initial deposit?

• Both our MetaTrader 4 and City Index platforms are set to automatically close your positions when your margin requirement reaches 100% (stop out level).
• Please note that this process is automated and is not a guarantee that your account will not enter into a negative equity situation and you should keep a balance amount in your account above your required margin.

1. Can I login to more than one account from the same computer?

• Yes, you can do such a thing by using the MT4 Multi Terminal.

1. Can I login to the same account through different devices?

• Yes, you can login to the MetaTrader 4 platform using the same password and username through different devices.

1. Does City Index accept payments from third parties?

• No, payments should be of your name.