There is usually a number for clients to call the customer service team directly. However, at the time of writing this, there was not one available due to the surge in call volume, and so they directed clients to the service updates page. The company offers three main account types, in addition to the option of demo trading.
Is City Index or Pepperstone safer for forex and CFDs trading?
The firm has, in fact, been attracting clients for over 3 decades, which means it must be doing something right. If you’re considering opening an account with City Index, be sure to check out our review and thoughts on trading with this well-established broker. As with Web Trader, MetaTrader 4 is available with a risk-free demo account for practice trading. Alternatively, the platform can also be accessed by the MT4 mobile app for iOS or APK devices. A firm favourite for CFD and spread betting is index investing, with the instruments functioning as an accessible way to speculate on the overall health of a specific country or market. City Index supports 21 global spot and futures index markets, including the Australia 200, Germany 40 (DAX) and UK FTSE 100.
What is the minimum deposit requirement for opening an account with Pepperstone?
Almost everyone on the planet has a smartphone, but not all mobile apps offer the same forex trading capabilities. This trading guide covers https://forexbroker-listing.com/ which brokers offer the best forex trading apps in 2024. FP Markets has twice won the Investment Trends award for best educational material.
Research Tools and Insights
It also has a customisable economic calendar, real-time news from Reuters and analysis portal that automatically scans the markets for chart patterns based on technical and fundamental analysis. This can save time from manually researching the market and present potential trading opportunities. City Index is a well-established and fully regulated broker that offers over 450 tradable instruments across different asset classes. They provide advanced trading platforms, tools, and educational resources.
Withdrawal Processing & Wait Time
Users will find an option that says ‘contact us’ at the top of the page, and once they have clicked on it, they will be taken to a page where they can scroll to the bottom and open up the webchat. The customer service representative on the web chat was very helpful and able to answer all of my questions. However, one thing we must mention is that we were first greeted by a chatbot, and it was very difficult to be directed to a support advisor. For the UK and the majority of European equities, the fee is 0.08%, for most US equities it is 1.8 CPS, and for Asian equities, it is 0.2%. There is no single, convenient location where all spreads are listed.
Does City Index Offer A Spread Betting Demo Account?
A copy of the trader’s ID and one proof of residency document will complete the process. Clients may e-mail City Index, use the webform, call the help desk, or utilize the live chat function. It is unlikely that traders will require assistance at this well-operated broker, but it is easily accessible in case a need arises. Minimum and average spreads are competitive, at 0.50 pips minimum and 0.69 pips average for EUR/USD. Indexes list a 0.40 minimum spread on S&P 500 CFD and spread bets but no average spread.
- 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.
- Another popular feature is The Artful Trader Podcast which is where experienced traders are interviewed to hear their stories and tips.
- IG’s flagship mobile forex trading app, IG Trading, won our 2024 Annual Award for #1 Mobile App.
- City Index is a brokerage that specializes in CFD trading, spread betting, and Forex trading.
- City Index has proven itself a global leader in CFD trading and Forex trading.
Minimum Deposit
Based on our research on the regulatory status of over 60 brokers, we’ve found that City Index holds 7 global Tier-1 licenses, while Pepperstone holds 3. Pepperstone city index review holds 2 global Tier-2 licenses, while City Index holds 1. There are several guides to help select the right broker, including our Top Forex Trading Platform Guide.
City Index excels in its equity investing department, with over 4,500 stocks from markets in the US, UK, Europe and Asia. Moreover, several ETFs are offered for speculating on the share prices of a group of companies. For UK clients, City Index is also a member of the FSCS (Financial Services Compensation Scheme), which means that, if the company is liquidated, some clients might be compensated up to £85,000. City Index are also a primary sponsor of Saracens Rugby Club in the UK, the 5-time Premiership Champions and 3-time European champions. Additionally, the broker is a sponsor of the Sydney Roosters in Australia, a team that has won 15 Rugby League titles.
Clients can set custom price alerts, create asset watchlists and monitor the data feed in real-time on live price charts powered by TradingView. Geared towards more experienced City Index clients, the MT4 platform boasts advanced tools, such as automated trading and backtesting capabilities using significant historical data. In addition, programmers can utilise the open API to create custom indicators and expert advisors or replicate the positions of top traders through the integrated copy trading facility.
Archived webinars such as the “Become A Trader” series are also available on City Index’s YouTube channel. City Index delivers high-quality market research that scores above the industry average. The only downside with its research coverage is a general lack of daily video content. Its in-house written materials are high quality, and market coverage is diverse. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years.
Unlike MetaTrader 4 this is based on C# API to write the code with a test environment provided to simulate trades with the robot. IG Group, which is Australia’s largest retail foreign exchange broker was considered the second-best when it came to education. The IG Academy included interactive education, webinars, and seminars as well as a demo account to trade risk-free. Exotics have much wider spreads as expected but the widest is for the GBP/ZAR with 38.2 pips average stated on the website, and 30 pips in the MT4. USD/CZK pair has the widest spread in AT Pro during the end session and was 800 points, the same as with MT4.
All in all, the company now has more than 140,000 institutional and retail investors using its platforms globally. The headquarters of GAIN Capital is in Bedminster, New Jersey, with more than 800 staff throughout North America, Asia Pacific, and Europe. Yes, based on our data matrix, testing, analysis and the fact they are regulated by the FCA City Index is a good broker. You can buy over 4,700 stocks on City Index as a CFD or financial spread bet, however, you can’t trade equity options or invest in physical shares. This comprehensive approach allows us to recommend the best brokers for different experience levels, trading styles and budgets. Investing.co.uk has been helping British traders find the right broker for over 20 years.
City Index provides top-rated mobile trading applications for both iOS and Android devices. Yes, City Index is one of the worlds leading providers in spread betting, FX, and CFD trading. Additionally, the City Index parent group, StoneX Group, is Nasdaq listed. City Index client funds are kept in segregated accounts and the broker forms part of the Financial Services Compensation Scheme (FSCS).
Their support team can be reached via phone, email, or live chat, ensuring that you can get assistance whenever you need it. Additionally, City Index offers a comprehensive FAQ section on their website, covering a wide range of topics to help traders find answers to common questions. In the highly competitive world of forex trading, finding the right broker can be a challenging task. With so many options to choose from, it’s important to carefully evaluate each broker to ensure they meet your specific needs and requirements. One broker that is often mentioned in discussions among forex traders is City Index. In this article, we will provide an in-depth review of City Index to help you determine whether it is the right choice for you.
However, these links are usually readily available via the bottom navigation menu or search bar. There is also a financing fee applied to positions held overnight. Spread betting offers tax efficiency, as there is no Stamp Duty or Capital Gains Tax required. Yes, City Index does allow scalping for short-term high frequency trading. City Index was founded in 1983 and is regulated by the FCA which means they have to keep client funds safe and segregated from their own money. 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).