City Index Review

By mosesbet · Filed Under Brokers Comments Off on City Index Review 

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About City Index

Started in 1983, City Index is one of the oldest and biggest spread betting firms in the world.  City Index’s excellent reputation in the industry and size (they handle more than 1.5 million trades per day from customers in over 50 countries) makes them a monster in the industry.

You’ll probably spot City Index posters for their trading services and mobile apps all over the Tube in London.  They already have a massive reputation and are well known among city traders and investors.  City Index is owned by UPGL, which owns a major shareholding in the worlds’ leading derivatives broker ICAP Plc.

I personally recommend to them to new traders because of their awesome 4 week “Learn to Trade program”, offering incredibly low 25p minimum opening positions.  City Index offers some of the smallest margins (down to 1%) and tightest spreads (bet on the Rolling 100 UK Daily from 1 pip) in the industry.   City Index was also the first firm to launch a real iPhone trading App (City Trader) back in 2009 and has also won the “Best Mobile Trading Platform” award in 2010 with their revolutionary Android, Blackberry and iPhone mobile trading platforms.

Why Join City Index?

City Index is one of the oldest and biggest spread betting firms in the world, which is why I’ll happily recommend them to anyone that asks.  They have a solid reputation from both new and experienced traders.  Their acquisitions of FX Solutions in 2008 and IFX and back in 2006 have consolidated their position as a market leader and in addition to spread betting also offers CFD trading services.

Range of Markets, Tight Spreads and Low Margin Requirements

City Index offers more than 75,000 markets to open/close positions on (in comparison to just 4,500 at WorldSpreads and 3,000 at Capital Spreads) which you can go long and short on.  As you can see, their sheer size alone makes them a top choice for mot people, especially when they offer 1% deposit margins on all of their currency markets.  This means for instance that you only need to have a deposit of £100 to open a £10,000 position.

City Index offers literally every market possible to bet on – including 1 point spreads on the UK 100, Germany 40, France 30 and Wall Street, 3 point spreads on Silver, UK and US crude oil from 6 points and EUR/USD from 1 point.  In addition to UK and global indices, you can also bet on interest rates, bonds, sectors commodities and options.


Mobile, iPhone, Android and Blackberry Platform

City Index has been by far the most technologically advanced trading broker over the last few years.  In 2009 they released the first ever iPhone trading app (which is now available for Android and Blackberry user too).

The City Index mobile trading platform allows you to open/close trades, edit orders, view your account summary (including P&L, margin requirements and cash balance), view technical charts, trading history and more.  You can also implement single-click trading with the app’s user-friendly menu.

Online Trading Platform and Training Tools

Because of their size, City Index is able to offer the best range of online trading features, webinars, and markets in my opinion.   You’ll find a number of online webinars which don’t even require you to have a live account to watch including tips on spread betting, using technical charts, indicators and CFD trading.  City Index also runs a number of seminars in London during the week every Wednesday.  This is the perfect opportunity for beginners to ask questions and meet other traders.

Other online trading platform features include 24/7 news wire from the Dow Jones, commentary of the day’s events, risk management tools and limited risk accounts.

Learn to Trade Program for Beginners

City Index offers a very unique scheme that offers 25p minimum bets to beginners for the first 4 weeks of live trading.  This extremely low stake size is perfect for beginners and helps to minimise the risks of trading.  Virtually no other broker offers a minimum stake size this low – at Capital Spreads and Tradefair (see review here) for example the minimum stake is £1, making it slightly worse for beginners. In addition to low stake sizes the 4-week learn to trade program also offers tons of useful articles, webinars and trading tools for beginners.

Demo Account

If you’re interested in opening a demo account than you can open one now at City Index and receive £2,500 in virtual cash to trade with on their simulated trading platform.  You can open/close positions, edit orders, execute stop-losses/trailing orders and gain experience using all of their features.  The City Index demo account is perfect for new customers who don’t want to open a live money account straight away.  Unfortunately the City Index demo account is limited to a 2 week period.  You can read more about the City Index 2 week demo account here.


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