? Instant Bank Transfer<\/span><\/p>\nDon\u2019t forget, you\u2019ll need to deposit at least \u00a3100 to get started with City Index. While PayPal and bank transfers do not attract any deposit fees, the broker does charge a rather hefty 2% on debit and credit cards. When it comes to withdrawals, you will need to request a cashout of at least \u00a350. The only way around this is if you are looking to withdraw your entire balance. The maximum withdrawal per transaction is \u00a320,000.<\/p>\n
City Index offers a number of trading options. Most traders will utilize the City Index web trader platform, which you can access from your standard desktop browser. You can also trade via your mobile phone. Regardless of which platform you opt for, you will have access to the following trading features.<\/p>\n
\u2714\ufe0f Technical Indicators:<\/strong> City Index offers more than 80 technical indicators. This includes the likes of Exponential Averages, Stochastic Oscillator, and the RSI.<\/span><\/p>\n\u2714\ufe0f Charting Tools:<\/strong> The broker allows you to customize your charting screen to meet your preferences. You can also utilize a number of drawing tools to assist with your technical analysis.<\/span><\/p>\n\u2714\ufe0f Market Orders:<\/strong> The platform hosts a number of well-known market orders. This includes stop-loss and limit orders, stop trailing, and one-cancel-other. We also like the fact that City Index offers GTC (good-till-canceled) and GTT (good-till-time) orders.\u00a0<\/span><\/p>\n\u2714\ufe0f Alerts and Notifications:<\/strong> If you\u2019re looking to track a particular instrument or marketplace, City Index allows you to install alerts and notifications. This can pop-up on your desktop or mobile device in real-time.<\/span><\/p>\n\u2714\ufe0f Going Short:<\/strong> As is the case with most CFD and forex platforms, City Index allows you to short assets. This is great for making gains when the markets are down.<\/span><\/p>\nLeverage Trading at City Index<\/h2>\n
City Index is strong in the leverage department, as the platform allows you to trade on margin with ease. The specific limits fall in-line with ESMA regulations. For as long as the UK is still part of the European Union, City Index will need to follow these limits.<\/p>\n
\n- Major Forex Pairs: 30:1<\/li>\n
- Minor\/Exotic Pairs: 20:1<\/li>\n
- Indices CFDs: 10:1<\/li>\n
- Stock CFDs: 5:1<\/li>\n<\/ul>\n
<\/i>Note:<\/strong> 72% of retail investors lose money when trading CFDs, so applying leverage is an extremely high-risk strategy. Make sure that you fully understand the risks prior to opening a margin account.<\/div><\/div>\nMoreover, you might have your leverage limits further restricted if you are deemed to be an inexperienced trader. City Index will be able to determine this as per the answers you gave during your account application.<\/p>\n
Account Types at City Index<\/h2>\n
As is the case with most online brokers, City Index offers a number of different account types. The one that you opt for will depend on how much experience you have in the space, and how much you plan to trade.<\/p>\n
Trader Account<\/h3>\n
The Trader account is for those of you that are just starting out in the investment space. Similarly, if you\u2019ve got experience but you\u2019re only looking to trade small amounts, this account will likely suffice.<\/p>\n
\u2714\ufe0f Minimum Account Balance: \u00a30 \u2714\ufe0f Negative Balance Protection \u2714\ufe0f 24\/7 Standard Customer Support<\/span><\/p>\nPremium Trader Account<\/h3>\n
If you\u2019re a seasoned full-time investor that typically places larger trade sizes, then you might want to consider the Premium Trader account. You\u2019ll need to hold an account balance of at least \u00a310,000.<\/p>\n
\u2714\ufe0f Minimum Account Balance: \u00a310,000 \u2714\ufe0f Leverage: Up To 30:1 \u2714\ufe0f Personal Relationship Manager<\/span><\/p>\nProfessional Account<\/h3>\n
The Professional account is only suitable for institutional clients. You will need to have a personal investment portfolio of at least \u00a3500,000 and be able to support this via documentation. Alternatively, you\u2019ll need to have experience working in the financial sector.<\/p>\n
\u2714\ufe0f Benefit From Super-Low Fees \u2714\ufe0f Leverage: Up To 400:1 \u2714\ufe0f Access to More Sophisticated Instruments\u00a0<\/span><\/p>\nResearch Department<\/h2>\n
Regardless of how much experience you have in the online trading space, it\u2019s crucial that you have access to key market data in real-time. City Index offers the following research tools:<\/p>\n
? City Index offers fundamental analysis<\/strong> via third-party platform Recognia. This allows you to be kept abreast of key market developments on your chosen asset class.\u00a0<\/span><\/p>\n? You\u2019ll also find trading ideas<\/strong> at City Index. This provides an in-depth analysis of a specific financial instrument, and how you can set-up your trading parameters.<\/span><\/p>\n? Financial data is also hosted at the broker for those that are looking to gauge the strength of a company\u2019s balance sheet<\/strong>. This includes debt-to-equity ratios, dividend payments, and earnings reports.<\/span><\/p>\n? If you\u2019re still a trading newbie, you\u2019ll be pleased to know that City Index offers a plethora of educational guides<\/strong>. For example, the platform offers a simple overview of how short selling works, and how you can implement it at City Index.\u00a0<\/span><\/p>\nIs City Index Regulated?<\/h2>\n
The most important metric that you need to look out for when choosing a new broker is that of the platform\u2019s regulatory standing. Crucially, you need to assess what trading licenses the broker holds. In the case of City Index, the platform is regulated by the UK\u2019s FCA. Moreover, the broker is also regulated by financial bodies in Singapore and Australia.<\/p>\n
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On top of a strong regulatory standing, City Index also has an excellent reputation in the online trading space. With the platform first launching in 1983, it has an impressive track-record that exceeds 37 years. The broker\u2019s parent company \u2013 GAIN Capital Holdings Inc, is publically listed on the New York Stock Exchange.<\/p>\n
Is My Money Safe?<\/h2>\n
As per FCA regulations, City Index is required to keep client funds in segregated bank accounts. This ensures that your funds are kept separate from its main operating costs. City Index also allows you to install two-factor authentication. This requires you to enter a unique PIN that is sent to your mobile phone every time you wish to log in. We would strongly suggest setting it up.<\/p>\n
Customer Support<\/h2>\n
If you need to speak with a member of the customer support team, City Index offers a number of channels. The easiest way to contact support is via the live chat facility.<\/p>\n
You can also call City Index directly on 0845 355 0801.<\/p>\n
Alternatively, emails can be sent to client-management@cityindex.co.uk.<\/p>\n
Support is highly rated at the platform. For example, the trading team is happy to explain sophisticated financial instruments to you over the phone, and they can even help you place a trade. Take note, the trading team will not be able to give you advice<\/strong> on what you should and shouldn\u2019t trade.<\/p>\nConclusion<\/h2>\n
If you\u2019ve read our in-depth guide on City Index from start to finish, you should now be able to make an informed decision as to whether or not the platform is right for you. The broker is suitable for traders of all shapes and sizes, with minimum deposits starting at just \u00a3100. Crucially, the broker lists thousands of assets from a range of trading sectors. This includes CFDs, forex, and even spread betting.<\/p>\n
We really like the competitive fee structure employed by City Index. This includes commission-free trading on non-stock CFDs and currencies. This also includes tight spreads on major marketplaces, so if low fees is your main priority, City Index is a notable option. Finally, the customer service team at City Index is highly rated. You\u2019ll benefit from 24\/7 support across multiple channels, including phone, live chat, and email.<\/p>\n
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eToro - Invest in shares with 0% commission<\/p>\n <\/div>\n
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\n - 0% commission on stocks<\/li>\n
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