We do apologise for the withdrawal issues you experienced on your trading account and inconvenience this has caused. We investigated your case and a customer service member reached out to you by email. Please respond to the email confirming requested information, so we can help you in resolving this issue. The Good Money Guide is a UK-based guide to global trading, investment and currency accounts.
why the trades are halt and close…
Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points. The broker gives traders access to over 12,000 markets across forex, cryptocurrency, stocks, indices, options, bonds, spread betting, ETFs, metals, energies, and other commodities. City Index’s trading tools include high-tech trading platforms like WebTrader and MetaTrader 4 (used by millions of traders around the world).
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They can use leverage for this product and take both short and long positions. And Australia can use leverage with negative balance protection to prevent balances from going negative. When it comes to leverage, City Index’s offering is fairly https://traderoom.info/ muted compared to other leading forex brokers. Other reputable Australian forex brokers which offer these types of strategies include IC Markets and Pepperstone, which both benefit from some of the lowest spreads in the forex industry.
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- We were delighted to hear your experience with FOREX.com has met your expectations and hope you continue to enjoy trading with us going forward.
- In addition to the MT4 app, City Index has developed its own proprietary Android and iPhone app.
- However, unlike CFDs, spread bets are classed as gambling in the UK, so profits are not liable to capital gains tax.
- There’s something for every trader in the training section, regardless of experience level and current trading skills.
- City Index are one of the world’s leading trading brokers, established in 1983 and headquartered in the UK with traders worldwide using their services.
All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing. The broker provides clients with a large collection of educational materials to improve their trading knowledge and skills. Some of the educational resources provided include tutorial videos, articles, webinars, and more. Whatever your level of trading experience, City Index offers a wealth of training resources to help you enhance your trading knowledge and abilities. This comprises trading-related teaching videos, articles, seminars, tutorials, and practical examples.
CFD Trading
We are excited to hear your client services experience with us has met your expectations and hope you continue to have a positive trading experience with us. Our customer support team is always available via phone, email, or live chat should you have any more suggestions you would like us to put forward for consideration. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider.
You can place and manage trades by using mobile trading applications. City Index offers an excellent fit for new and mid-level traders seeking excellent research, solid education, reliable customer service, and a broad range of competitively-priced markets. The StoneX connection goes a long way in building trust, while the broker’s history and London location will instill confidence. Full-time and professional traders may be forced to look elsewhere due to the lack of volume discounts and weak connectivity through VPS and API interfaces. City Index offers guaranteed stop-loss protection for a premium as well as a sophisticated set of conditional orders within their trading platforms. Oddly, the firm’s small Singapore branch utilizes two-factor authentication for added security, but this useful feature wasn’t found at the U.K.
On City Index’s trading platform, you can trade more than 13,500 markets, including 40 equity indices, over 10,000 UK and international shares and ETFs, 19 commodities, and 183 FX pairs. This means they offer more markets than most of the other online trading platforms regulated by the FCA in the UK. Unlike spread betting CFD profits are subject to capital gains tax, so are less popular among UK traders. Historically, City Index would offer CFDs to more professional traders and spread betting to smaller clients. CFDs and spread betting are similarly priced with City Index, with the commission being included in the spread, which is slightly wider than the underlying market bid/offer. The main reason why both products are on offer is that spread betting is only available to UK residents, whereas City Index can offer CFD trading to its global client base.
An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team. City Index’s best execution policy ensures that all trades at City Index are executed as quickly as possible. If the price falls in your favour while your order is being processed, City Index will execute it at the lower price. They give critical information at a look about what a market’s pricing has been historically and where it is currently.
This means that you can take long or short positions on the Mag 7 stocks in one trade with equal ease. City Index seems to have matured nicely though, it’s grown out of its lumbering adolescence under the ownership of Gain Capital and is now owned by US Behemoth StoneX (previously INTL FCStone). Since then, the platform has had a few upgrades and long-term investment products will hopefully be added shortly. Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
They have an impressive 35 years plus of experience, providing traders all over the global with fast trade execution speeds and tight spreads. You can trade on user-friendly platforms across multiple devices, with powerful trading tools and excellent customer https://traderoom.info/city-index-forex-broker/ support. The minimum deposit is just $100 or you can trade with virtual funds on a demo account free of charge. Whether you are new to trading or a seasoned pro, I think City Index are one of the best brokers to meet the demands of most traders.
Read our full explanation and accounting of our research and testing process to learn more about how we test. City Index is regulated by three major financial regulatory bodies. These regulating bodies are the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). City Index is also regulated to trade in the United Arab Emirates under their FCA license. In 2001, the firm introduced CFD trading, and in 2006, with the acquisition of IFX Group, City Index entered the forex marketplace. In 2008, City Index expanded its presence in forex with the acquisition of FX Solutions.
You can only trade around 84 markets on MT4 through City Index, but if you just want to trade the major markets, City Index is a good broker for MT4 based on their regulation, service and pricing. Always advertising on billboards in the City, always having a colourful client base, always being bought and sold at the whim of billionaires and bigger boys. Back in the good ol’ days, you could open an account and put on a million-dollar trade over the phone with no ID, no deposit, and no idea.
The broker acts primarily as a market maker, like most European CFD brokers, raising conflict of interest issues. However, they offer central clearing on « certain markets » as a free service that requires an additional client application. Thank you for your 5-star review.FOREX.com always strives to provide a professional and informative customer service experience for all our traders. We were delighted to hear your experience with FOREX.com has met your expectations and hope you continue to enjoy trading with us going forward. We take our reputation as a trustworthy and reliable broker seriously, one which puts clients first. Our Customer Service representatives work hard to ensure all our clients’ trading account questions are answered thoroughly and in a timely manner.