City Index Pros & Cons | Get Information at a Glance

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.

In this article we’re addressing the main pros and cons of City Index in each broker aspect.

City Index

Pros

Cons

Safety

  • Over 35 years of trading experience
  • +25 awards
  • Listed on NASDAQ
  • Regulated by FCA
  • Segregate account funds
  • Over 295,000 global clients
  • Negative balance protection
  • None

Offering of Investments

  • Over 12,000 markets
  • Over 4,500 shares
  • Forex and CFD trading
  • Commodities trading option
  • Metals, bonds, and options trading
  • ETFs and crypto trading
  • None

Account Opening

  • Fast opening process
  • Fully digital
  • Three different account types
  • A minimum deposit of $100
  • Not available in the USA
  • No two-factor authentication
  • No islamic account option
  • Commissions applied

Fees and Commissions

  • Low commissions
  • Tight spreads
  • Low trading fees
  • No deposit or withdrawal fees
  • Inactivity fee
  • High CFD fees

Deposit & Withdrawal

  • Various deposit and withdrawal options
  • No deposit or withdrawal fees
  • Various currencies options
  • None

Platforms and Languages

  • Available on MT4
  • Customized platform
  • Available on Desktop / Web / Mobile
  • Price and notification alerts
  • User-friendly UI
  • Good searching function
  • Good charts
  • Notifications and price alerts on Desktop and Mobile versions
  • No two-factor authentication

Research Tools

  • Customizable charts
  • Trading ideas
  • Market news
  • Various research tools
  • No fundamental data available

Customer Service

  • Live chat
  • Phone support
  • Email support
  • No 24/7 customer support

Education

  • Demo account
  • Trading strategies
  • Educational videos
  • Articles
  • None

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.

If you want more information, please check out City Index Full Review.



Leave a Reply