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The firm has disconnected the bank account from my account, and I cannot withdraw funds. It took 2.5 weeks to reply to a simple email, and the response is unintelligible. I can’t even imagine what would it be like if I had a REAL problem as a customer, for example issue with a deposit or withdrawal. Product range excellent – although some options on major indexes and products would be useful. Check out the current account balance requirements at City Index in our What is the minimum account balance at City Index article. Our ultimate guide to the City Index minimum deposit is updated regularly.
There are six sections, all designed to ensure that you are fully trained in this field. Without expertise, retail investor accounts lose money heavily in trading. The six modules are Technical Analysis, Fundamental Analysis, Trading Strategies, Risk Management, Expert News and Analysis, and The City Index Advantage. A detailed section is also provided on CFDs and why you should trade in CFDs with this provider. City Index provides rich education and training content that will help avoid investors’ accounts lose money, regardless of whether they are beginners or professional traders. There are several categories to the education and training module of City Index.
City Index allows you to use any unrealised profits from open positions as margin for any new positions that you may wish to open. City Index will aim to close out trades if your funds fall below 50% of your margin requirement to protect clients against negative balances. City Index is licensed by the Financial Control Authority and operates as per the rules of the European Securities and Market Authority .
Deposit fees and options
They are regulated by the FCA and ASIC, and these are recognized, top-tier regulators. Also, the FSCS guarantees that your money is safe and protected upto a certain limit. In the table below, we’ve listed the available CFD instruments at City forex brokers Index & how they are classified. You need a minimum deposit of £100 to open a CFD or Spread Betting Account with City Index. City Index also recommends you have more than enough money in your account to cover drawdowns and margin costs.
Close Out Level – When your funds fall below 50% of margin requirements, or there is a high risk of losing money, City Index automatically closes out trades. This is to prevent negative balances and should not be regarded as a stop loss. There may be a number of reasons why your withdrawal process has been delayed. Our client management team will be able to help you sort out any issues you may be facing.
The Trader account is the default classification for retail traders. The Professional account provides access to the most superior trading environment, but there is specific criteria which needs to first be met. According to the website, a trader must meet two of the three requirements in order to be eligible for inclusion as a Professional Trader. Although it was a brokerage firm focused on spread betting in its early years, City Index now offers many other financial products to its customers. The company also added to its offer by introducing multiple trading platforms, and is now a well-rounded brokerage service.
Analyse your own trading habits, best and worst trades, best performing markets and much more. Harness the power of the world’s most popular FX platform MetaTrader 4 , now with added asset classes – including commodities and indices. We’re backed by Nasdaq-listed StoneX, a Fortune 100 company with over a century in the financial markets.
City Index Ltd Reviews by Job Title
The options for withdrawing funds are the same as for deposits. The minimum withdrawal amount is $100 or all your available account balance . City Index has low forex trading fees, and non-trading fees, like withdrawal fees, are also low. Account opening is fast and smooth and a wide range of high-quality research tools are available. Eventually, for its great performance, the platform has gained several awards for excellence and has been chosen by many traders among others specifically for its outstanding capabilities. However, if you wish to receive same day payment using a CHAPS bank transfer, there will be a £25 charge.
The different names for Forex brokers are retail forex brokers or currency trading brokers. There are slight differences as Retail currency traders use these brokers to gain access to the 24-hour currency market for theory purposes. City Index offer a selection of different trading accounts that allow for fast, easy payments and secure withdrawals.
Is Cityindex a market maker?
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.
The broker is one of the most established and decorated that I have come across during many years in the industry. 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 support. The minimum deposit is just $100 or you can trade with virtual funds on a demo account free of charge.
Execution of Trade
Enjoy all the features and full control of your account on the move. City Index trades under StoneX Financial Ltd in the UK, a subsidiary of StoneX Group Inc. City Index was founded in 1983 as a spreadbetting brokerage house. Traders are offered the option to tick the one-click trading button to easily enable this handy feature.
In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices. In a nutshell, City Index platform caters to all sections of trading and traders with an account, regardless of the experience level. If you consider whether to opt for the City Index trading platforms, here are a few pointers to help make up your mind.
To close your City Index trading account, you need to contact the client management team. Before the account can be closed, you need to answer two security questions that you set up prior to verifying your identity. After providing this information, City Index will proceed to close your account. City Index has a Training tab on its website that offers educational resources for traders at all levels. Other brokers like Plus 500 and eToro allow unlimited use of their demo platforms and a link to the live platform.
Spreads
Ripple is also popular amongst large banks with the Ripple network a next group real-time gross settlement system. It gives a trader instant cross-border fund transactions at very low costs. The choice about which platform to choose mostly depends on what a client would like to trade, therefore it will be one of the standards when choosing a broker too. The Trader Account is the basic account that everyone has to start out with. Although City Index Singapore is rated highly by many happy customers in personal reviews, there is no information available on the City Index Singapore homepage about any official awards received.
For example, you can see what the EU employment data means and how it has changed over time. Technical indicators to choose from, which is an impressive selection. City Index has great selection of forex and an average selection of CFD products. You can easily set alerts and notifications on the City Index mobile platform. On the negative side, features were sometimes a bit slow to load. Based on ownership, you can open an individual or corporate account.
Trading Platform
I had awful experience with their services, their platform MT4 and Web freeze through out the afternoon, this has psychologically screwed me up a bit. I don’t know the real reason behind this, I will continue to test their services in the coming weeks, if I am not happy I will move on. The minimum deposit of $100 can be made using wire transfer or credit/debit card. It is easy to make a deposit and start trading as soon as the funds are in your account.
All in all, they can improve in a few areas but it’s still an overall great broker with no significant drawbacks. Clients can use multiple trading platforms with great research tools and top-notch news providers. Educational resources are especially noteworthy as they are well-produced, concise, and cover just about all important forex-related topics.
Platform cityindex co.uk
The button is located at the top right-hand side of the menu on the web trader. City Index doesn’t have specific criteria to qualify new traders but aims to ensure some competence and understanding due to the risks involved. best profitable forex strategy The above markets include City Index’s DFT (daily-traded funds) markets. City Index does NOT offer CFDs to traders from, United States, Brazil, Belgium, Hong Kong, and Japan, where CFDs are not permitted by law.
To open an account in the UK you’ll need to deposit at least £100, whilst this rises to $150 for traders in Australia or Singapore. The MetaTrader 4 web platform allows you to trade Forex from any browser and operating system with no additional software. The MetaTrader 4 mobile applications allow trading on financial markets via iOS and Android powered smartphones plus500 scam and tablets. A 12-week demo account with 10,000 credits is available for both retail and professional traders to explore and make a clear decision on whether City Index is a worthwhile broker. All in all, City Index offers multiple cross-platform trading applications, 24/5 customer support, and a variety of asset classes and products to choose from.
They have strict regulation in 8 jurisdictions across the globe. This helps to ensure traders that they are trading with a trusted and reliable broker. City Index are one of the world’s leading trading brokers, established in 1983 and headquartered in the UK with over 150,000 traders worldwide using their services. They have over 35 years of experience with fast and reliable trade execution speeds, award winning platforms and technology across multiple devices.
Customer support hits all the bases, with 24/5 phone support through London local and international phone numbers. Online chat is available to new and prospective clients, but users need to “talk” with an annoying chat robot before getting to a human customer representative. The broker accepts support questions through phone, chat, or email, and a fairly strong social media presence is used primarily to distribute research and marketing materials.