City Index Forex Review – The Professional Trader

Reward: N/A
  • Licence:
  • FCA
  • 113942
  • Licence:
  • ASiC
  • 345646
Accepted Payment Methods: VISA, VISA Electron, MasterCard, Wire Transfer and more
Min. Deposit: £100
Broker Rating:
  • Reward: 4.0
  • Platform: 4.5
  • Mobile: 4.5
  • Live: 4.2
Overall Score: 4.30/5
Featured Platforms:
  • Web Trader, Mobile Trading Apps, MetaTrader 4, AT Pro
Broker Info
  • Company: GAIN Capital UK Limited
  • Founded: 1999
  • Headquarters: United Kingdom
  • Phone: +44 203 194 1801
  • Email: support@cityindex.co.uk

When looking around at the many options available for Forex trading, one choice that might stand out to you is City Index. This trading platform has become popular with a lot of users. However, it is not for everyone. In this review, we will try to help make sure you understand why you might love CityIndex, but also appreciate why it might not be 100% right for you as a choice moving forward.

Trade Forex currencies with fast execution and tight spreads at City Index!

History

Out of all the long-term options on the market, one thing that we love about City Index is their long-term reputation. Founded in 1983, it has one of the older names and is also a publicly listed company. It is regulated in major parts of the world and come with fully European Union authorization to trade.

As such, you can see why a lot of people choose to come to City Index. It is a place that has a lot of history, and a lot of track and credit build up with traders. It is got a long of helping rather than hindering traders, so you can feel confident in using it for any purpose that you might have in mind with regards to trading.

Bonus Offers & Promotions

The FCA has put a blocker on all such promotional offers from companies like City Index. This is to stop people from being enticed purely on promotional offers. Therefore, you do not get any kind of offer or add-on when you sign-up with CityIndex. One thing that you might get, though, are cashback rebates which are provided to those who are using their Professional Accounts. This makes it easier for you to get the kind of value that you would have wanted from the service. In terms of enticing offers or add-ons, though, City Index does not offer anything like this.

Regulation

Fully registered with the Financial Conduct Authority (FCA), City Index is about as trustworthy as it comes. It’s also got protection from the Bank of England’ Prudent Regulation Authority. This gives you total peace of mind that you are protected when you are using this platform. If one thing that you tend to worry about when using a Forex trading platform is regulation, then you can feel safe that with 30 years plus in the game, City Index is well-regulated, well cared-for and very much suitable for your neds moving forward.

Platforms Supplied

You get access to both Metatrader 4 and WebTrader. This should give you access to see just how easy to use the system is, and how generally similar it is to some of the other most respected names within the wider industry. One reason to give this a chance, then, is the fact that it uses such as secure platform.

The platforms that you get access to are outstanding and should go some way to making sure you feel confident and comfortable when working with the wider Metatrader 4 system. With such easy to use layouts and systems, it is easy to see why this is the industry standard.

Education

Like any good platform for trading, City Index comes with some hugely impressive educational tools. Many good videos, articles and analysis pieces exist on the site. This helps you to quickly learn about trading, making this a good platform to learn from if you are serious about education and personal growth. One thing that you might find when taking on an educational platform like this, though, is that the videos can be a bit high level at first. Once you get used to the terminology being used, though, they are supremely useful.

One other benefit of the educational tools, though, is their hugely impressive demo account. This demo account allows you to have access to trading for up to three months, allowing you to test trade up to 100 FX and CFD markets. This allows you to use both platforms and means that you can pick up on how to go about doing trades and seeing how they would have paid off for you. For that reason, many people like to use this platform as it does give you so much control over what you do and how you learn.

Support

Customer support is brilliant, with connection times of under 2 minutes quite regular. However, it is common that you might find yourself dealing with someone who might not have the answers that you need at once. So, while connecting can be fast, getting solutions to every issue that you face is often an exercise in frustration.

However, with enough time, you can get any problem solved with your account. They do make it easy to get to the support, though, which is often the first problem to overcome. Get connected, and (eventually) you will be presented with a solution.

Withdrawals and Deposits

The quality of their withdrawals and deposits is quite good, too. With a minimum deposit of £100 for your first input, after that you can put in as much or as little as you like as far as we could tell. The speed is quite fast, also, with delivery of your money – withdrawal or deposit – often within 3 working days.

Again, customer support can often help you to work out if there is a problem with your investment. This should help you to easily handle any cash-based issues that might have popped up as you use your account on City Index.

Conclusion

While there are some limitations, City Index has been around for too long to be anything other than reliable. Despite a somewhat frustration customer support service, the rest of the process really could not be any simpler. Management of your money is easy, as is controlling your day-to-day account management.

It is for this reason, then, that so many of us like to work with CityIndex. A long history on the market mixed with a decent service offering all-round makes it a good place for you to start. It might not be for everyone, but City Index is about as trustworthy a choice as you are likely to find on the internet at present.