OVERVIEW OF CITY INDEX
City Index is considered one of the most popular platforms amongst traders. That’s why we have decided to review city index, its services, features, policies, pricing structure, as well as other aspects of the platform, to determine whether this Forex broker will be a good fit for you.
It is a broker platform with years of experience and a good reputation. It is regulated by most reputed financial jurisdictions, including the Australian Securities & Investment Commission (ASIC), the Financial Control Authority (FCA), Monetary Authority of Singapore (MAS). Also, the platform follows all the regulatory rules of the European Securities and Market Authority (ESMA), which makes it a safe broker to trade with. It has branches in some of the prominent places of forex trading, including the UK, Australia, Singapore, and Australia.
- Minimum Deposit: 100 EURO
- Trust Score: 94
- Tradeable Symbols (Total): 12000
The broker platform provides several financial assets, including Bonds, Cryptocurrencies, Indices, Forex, Stocks, Shares Options, Commodities, and forward and future contracts. Also, the platform is available in the six most popular languages, including English, Chinese, Arabic, German, Spanish, and Polish.
So you can trade in the language you are comfortable in. Plus, it provides the facility for desktop and mobile trading. It has a user-friendly mobile trading app of its own for both Android and IOS users.
CITY INDEX REVIEW
City Index can be a suitable option for beginners as well as advanced traders. You can find all you need on the Fx broker platform, including customizable trading charts, technical analysis indicators, Trading tools, etc. You can access more than 100 indicators and charting tools that help you make trade decisions more effectively. The platform also offers outstanding backtesting and automated trading services, so you can place your trade automatically and test a plan’s accuracy or success rate.
It offers 24/5 customer support; you can reach the team through its website, emails, or live chat. The customer service is also good, responsive, and interactive, which is necessary for a broker. The platform also provides the facility of automated and copy trading so that it can be the ideal choice for traders with a lack of market knowledge.
The trading fees of the platform are competitive and transparent. You can get many additional benefits such as premium signals, advanced tools, economic calendars, daily reports, news, video tutorial, etc. Also, this broker’s reviews and performance record are good, which is rare in the market. It also has a well-designed website and a good social media presence.
OUR ASSESSMENT OF CITY INDEX
The Forex broker platform is available in more than 150 countries, and it has an experience of over 30 years. The pricing structure of the platform is average. It does not charge any withdrawal fees. Also, it provides hassle-free and timely withdrawal deposit facility. However, the platform charges inactivity fees.
Regarding the minimum deposit, you should have at least 100 Euro to open an account with this platform. However, for facilitating premium account services, a trader must have a deposit of 10,000 Euros. City Index spreads are also competitive and transparent. The spreads for trading in EUR/USD charges start from 0.69 pips.
City Index also offers a leverage facility for clients to make big trades from small capitals. However, the maximum leverage limit is different for different countries like 1:30 in Australia, 1:50 in Singapore, and 1:200 in the UK. The broker offers exceptionally good educational written and video content; you can watch these videos on its youtube channel. The account opening process is fast. Also, you will get exciting offers for subscribing to its services.
Although the broker claims that it serves globally but it does not accept US clients. Plus, it does not support meta trader 5. So it cannot be suitable for all clients. However overall, City Index is good to start your trading journey with, but you must first check whether the broker is available in your country.
Conclusion
Based on our City Index review, we give it an overall score of 94 out of 100, and on a scale of one to five, we give this broker a 4.5 rating. The broker has a great customer base and an excellent previous customer record. It has also won many awards, including Best CFD Provider and best trading platform in 2023.
However, before subscribing to the platform, you should analyze its services and compare them with other platforms. It also provides the facility of a demo account, and that too for 12 weeks. You can place a trade on it and analyze your success. Also, it provides 10,000 fake money to trade.
Pros
- The broker platform is secure and transparent to start trading with. Also, it follows all the regulatory rules, including leverage limit and negative balance protection. So a trader cannot lose more than their account, even in extreme cases. It helps traders to manage their risk and potential losses from trading.
- Apart from brokers’ services, CITI Index also provides Smart Signal subscriptions. Its in-house team generates the most accurate signals for its clients. You can access over 200 signals for trading in different financial assets in a week. With trading signals, the platform also provides trading alerts, market news, and analysis tools that help you to place trades efficiently.
- City Index offers more than 84 currency pairs. So you can choose the best according to your need. Plus, the platform also offers more than 12000 tradeable symbols. So you can diversify your portfolio and invest in different financial assets.
Cons
- One of the biggest drawbacks of being with City Index is it does not support Meta Trader 5. So it can be a problem for MT5 users, and they have to look for other platforms. However, the platform supports MT4 and has its own app.
- There is a limited discount offer to open an account with this broker, and discounts on margin are limited to premium account holders. Plus, there is an inactivity fee of 12 Euro which can be a problem for traders who rarely trade.