City Index is a trading platform with more than 40 years of professional experience in the industry.
The platforms boast more than one million traders and several industry-focused awards.
Traders can access thousands of investment vehicles ranging from forex and shares to commodities and metals in more than 13,000 financial markets.
They also have access to timely industry-related news, which helps them make sound investment decisions.
In my detailed City Index review, I examine the product offering, features and other critical factors related to the City Index trading platform.
Table of Contents
Product Range
Traders can access the products and services of City Index after successfully registering on the platform.
Registration takes place on the website and via the mobile application. Traders can opt for the demo account, which enables them to practice their trading strategies without risking any money.
The demo account comes with £10,000 in virtual funds for 12 weeks and access to 13,500+ markets. It has advanced features and tools like TradingView charts and Trading Central analysis.
Once you’ve mastered the art of trading, technical analysis, fundamental analysis and financial markets, you can move to regular trading accounts and start making actual money trades. The demo account also comes with demo customer support.
The platform doesn’t limit a trader on how many demo accounts they can open. When you upgrade to the live account, they get automatic access to the following City Index products:
CFD Trading
When trading CFDs on the City Index platform, traders can access over 5,000 global markets, which include bonds, indices, shares, and commodities.
City Index offers competitive pricing on every asset class and free live market data. The advanced trading platforms on City Index allow out-of-hours trading on share CFDs and indices.
The City Index CFD trading service has won two key awards:
- Winner of Best CFD Provider – ADVFN International Financial Awards 2022
- Best Trading Platform 2022 – Online Money Awards
City Index provides educational content for CFD trading, allowing novice traders to hone their trading strategies.
Spread Betting
City Index offers spread betting to its customers, a tax-free trading service with access to thousands of financial markets.
The platform provides a global spread betting service regulated by the FCA. The spreads are tight and don’t charge any commissions. Investors don’t need to stress about stamp duty or tax on their profits.
The platform features a transparent pricing structure on spread betting. It also gives traders more control over their accounts, enabling faster execution of trades.
With access to over 8,000 financial markets, traders can quickly diversify their investment portfolio through spread betting.
City Index’s spread betting service has been awarded the Best Spread Betting Provider 2021 at the Shares Awards.
Forex Trading
City Index provides currency traders with access to global currency markets. Thanks to forex trading, they can instantly execute their trades and utilize competitive spreads.
Traders also benefit from institutional liquidity when trading forex pairs, including EUR/USD and GBP/USD. The platform offers low forex trading fees, including EUR/USD, from just 0.7 points. They can trade more than 84 global FX pairs, including majors, minors and exotics.
City Index uses Tier 1 Banks’ liquidity to provide its forex traders with the best pricing in market conditions.
The TradingView charting package is a comprehensive forex trading chart providing detailed information about the global currency markets. Apart from offering one-click trading capability, it has 80 indicators.
City Index provides live pricing of various top currencies in the market. Traders get real-time updates on changes in the currency value, thus capable of making timely trading decisions.
Shares Trading
Trade on global shares using the City Index platform, with access to over 4,700 global shares, including IPO markets. Customers get exclusive extended hours when trading on major US shares using spread betting or a CFD trading account.
City Index doesn’t impose market data charges. They lower share trading costs by providing free market data on live share prices. Shares trading is possible via various account types that suit the trader – from spread betting to CFD trading.
The platform also offers pre-market and after-hours trading, giving the trader 24/7 updates and trading capabilities. Additionally, the platform provides the latest news and professional insights related to various shares in the industry.
Index Trading
City Index provides elevated and modern index trading for its customers with access to major global indices. The platform features over 40 major global indices with extended trading hours. Thanks to industry-specific trading, clients predict industry-wide trends with sector and thematic indexes.
Thanks to flexible trading options, you can choose the most suitable contract type; choose cash or futures, across global index markets.
Traders can also trade on thematic indices and UK market sector indices. The platform also offers market news on index trading, informing traders of trends and changes.
Trading platform & Mobile Application
City Index has three trading platforms offering different features and capabilities to its users.
The platforms are available via web version, desktop and mobile applications, providing traders with the required convenience and accessibility which meets their trading needs and goals.
| Web Trader | TradingView | MT4 | |
| Key differences | Trade 13,500 City Index markets. Access Performance Analytics. Trade with SMART Signals. | Exceptional charting experience. Active social trading community. Asset screeners and financial reports | Utilise Expert Advisors (EAs), Access MetaTrader Market |
| Accounts | CFD and spread betting accounts | CFD account | Standard MT4 |
| Platforms | Web, Mobile and Desktop | Web and Desktop | Web, Mobile and Desktop |
| Markets | Indices Shares FX Metals Commodities | Indices Shares FX Metals Commodities | Indices FX Metals Commodities |
| Charting | Advanced TradingView charting Customizable workspaces Over ten chart types One-click dealing through charts Over 80 technical indicators Range of drawing tools | 100+ pre-built indicators 100,000 community-built indicators 50+ drawing tools 12+ chart types Up to 8 charts per tab Drag-and-drop trading on charts | 30 standard indicators Over 2,000 free technical indicators 700 paid-for indicators Nine timeframes 24 analytical objects |
| Features | Range of order types Custom watchlist In-platform price alerts Hedging capabilities | Range of order types Custom watchlist Hedging capability Various alert types No third-party bridge | Range of order types Custom watchlist Hedging capability No third-party bridge EA hosting |
| Tools | SMART Signals with suggested trade ideas based on historical price action Fundamental and technical analysis on hundreds of markets through Trading Central Measure your trading performance and behaviour with performance analytics Fully integrated market news from Reuters | Pine Script — a lightweight yet powerful language for developing indicators and strategies Stock, forex, crypto screeners and corporate reports for markets analytics Fully-integrated market news from Reuters and other sources Simulate trading on your chart and use historical data to test various strategies with detailed reports | FX Blue, complete with over 20 apps with custom indicators and Expert Advisors Fundamental and technical analysis on hundreds of markets through Trading Central Fully integrated market news from Reuters |
The mobile application is compatible with iOS, Windows and Android devices.
Traders can find the desktop or mobile app download link on the platform’s official website.
Features
City Index provides traders with various trading tools and resources to elevate their overall experience.
- Customisable Charts: The platform features 16 chart types with over 80 financial market indicators. The charts provide ample data and information to help traders identify their next trading opportunity. Additionally, they can customise the charts in line with their trading strategies and goals, thus enabling more informed decision-making when trading.
- Actionable trade ideas: City Index has a research portal highlighting the most promising trading ideas. Industry experts provide trading ideas after using fundamental and technical analysis. The feature is instrumental for novice traders still learning the art of trading.
- Insightful data: The platform provides plenty of data whether you are a novice or an advanced trader. The mobile application even allows direct expert commentary from Reuters. Industry insights and news are available on the platform, making it easy for traders to navigate volatile financial markets.
- Performance analytics: City Index offers a digital mentor to its customers. The digital mentor helps the trader understand and master their trading psychology. It boosts trading performance by identifying the ideal trading strategies based on the trading needs and goals of the trader.
- SMART Signals: Traders get timely trade ideas based on changes and current market conditions. The information is counter-checked with historical data to offer more evidence-based predictions for the traders.
Fees
Below is a breakdown of the pricing structure of City Index:
CFD trading costs
| Spreads from | Commissions From | Margin | Leverage | |
| Forex | 0.2pts | None | 3.33% | 1:30 |
| Indices | 0.3pts | None | 5% | 1:20 |
| US Shares | N/A | 1.8 cps | 20% | 1:5 |
| UK Shares | N/A | 0.08% | 20% | 1:5 |
| Commodities | 0.05pts | None | 5% | 1:20 |
Spread betting costs
| Market Type | Minimum Spreads from | Margin | Leverage |
| Forex | 0.2 pts | 3.33% | 1:30 |
| Indices | 0.3 pts | 5% | 1:20 |
| Shares | 0.1* pts | 20% | 1:50 |
| Commodities | 0.05 pts | 5% | 1:20 |
Margin (Step Margin)
| Spread bet stake size | CFD stake size | Margin |
| £0-£10 | 0 – 1,000 | 5% |
| £10-£100 | 1,000 – 10,000 | 10% |
| £100-£500 | 10,000 – 50,000 | 15% |
| £500+ | 50,000+ | 20% |
Commissions
City Index doesn’t charge commissions on spread betting markets. However, with CFDs, there is a commission when trading shares.
| Market Name | CFD Spread | CFD Commission | Minimum |
| UK shares | Market | 0.08% | £10 |
| European shares | Market | 0.08% | €10 |
| Australian shares | Market | 0.08% | AUD 5 |
| Asian shares | Market | From 0.08% | from SGD 10 |
| US shares | Market | 1.8 CPS | USD 10 |
Traders need to frequently check for any changes in the platform’s pricing structure.
Research & Education Features
City Index has a comprehensive set of educational content for its traders. The City Index trading academy features various courses which focus on trading.
The classes are available for novice and advanced traders, offering resourceful information in every trading journey.
Apart from the classes, the academy features webinars and guides on trading. The trading academy is accessible even when using the demo account.
The platform has a News & Analysis section, which covers various information on the financial markets. Traders find information on the latest research on the financial markets; professional experts compile research studies and reports.
They feature insightful opinions and reports on market trends. City Index also features the trade ideas section, where traders can get suggested ideas on the most promising trades.
They can track the market hours and even activate subscriptions on their favourite markets. City Index has divided the research and education based on topics.
Traders can find information on various topics based on their queries and interests. For more clarification, traders can always contact customer support regarding the information in the research and education section.
Customer Support
City Index customer support is reachable via:
- Live chat session
- Contact form
- Email: [email protected].
- Phone: 0203 194 1801 (paid) and Freephone 0800 060 8609
Customer support is available 24/7 and also available across various social media platforms.
- Facebook: https://www.facebook.com/CityIndexUK
- Twitter: https://twitter.com/cityindex
- Instagram: https://www.instagram.com/cityindexuk/
- LinkedIn: https://www.linkedin.com/company/city-index/
- YouTube: https://www.youtube.com/user/CityIndexLtd
City Index has an FAQ section featuring more information for traders, which can provide the necessary help while waiting for feedback from the customer support team.
Pros & Cons of City Index
Pros:
- An award-winning platform
- It has many years of experience in the industry
- No withdrawal fees
- Low forex-trading fees
- Responsive customer support is available 24/7
- Diverse research tools
Cons:
- It lacks cryptocurrencies
- Limited portfolio of investment vehicles
- High-stock CFD commissions
Alternatives of City Index
Traders looking for alternative trading platforms should consider the following options:
AvaTrade
The platform stands out as the most advanced and insightful platform for forex and CFD trading. Besides featuring excellent educational content and resources, it has a thriving community of traders. The educational content is created by in-house experts and third parties, providing a diverse catalogue of resources and tools.
Traders have access to various trading platforms at AvaTrade; a stock trading platform, two proprietary platforms, a mobile application and a social and copy trading platform. Additional products offered by the platform include General Investment Account and Islamic Account.
Read my full AvaTrade review.
Pepperstone
Traders looking for a low-cost platform will love the pricing structure offered by Pepperstone. The platform has zero fees on account inactivity, account management, and no minimum deposits. It has tight spreads, with the Pepperstone Raw Account featuring an average spread of 0.17 pips on its EUR/USD.
Traders are provided with over 1200 trading instruments, making creating a diversified portfolio easy. Thanks to collaborations with other popular trading platforms, Pepperstone customers can copy successful trades from these platforms.
Read my full Pepperstone review.
Interactive investor
The UK’s second most popular trading platform. Interactive investor features an expansive catalogue of investment vehicles, making it one of the best trading platforms for investors looking to diversify their portfolios. Customers can access over 41,000 funds, shares, ETFs, and investment trusts through 17 global exchanges.
Investors with extensive profiles will find the pricing structure offered by interactive investor to be economical. The platform also provides ISA and SIPP accounts and allows advanced investors to dig their hands deeper into investing activities.
Read my full interactive investor review.
City Index Review – Final Thoughts
City Index has 40 years of experience in the industry and more than one million traders on its platform. Its impeccable service delivery as a top trading platform is supported by the several industry awards it has received.
Even though the platform doesn’t include cryptocurrencies as one of the investment vehicles in its trading platform, it provides its traders with access to thousands of global financial markets.
The fee structure is straightforward on the platform, and the demo account allows traders to practice until they master their trading strategies. Additionally, the platform doesn’t limit traders to the number of demo accounts they can open.
Hopefully, my City Index review has given you some insight into what the platform offers and whether it’s the right choice for you.