Emmanuel Ifeanyi
Emmanuel Ifeanyi is a Financial Research and Platform Testing Analyst at BestBrokers.com, specialising in forex, stock and cryptocurrency trading. He is responsible for most of the site’s broker reviews, contributing detailed research and hands-on testing of trading conditions, fees, account types, available assets, usability and suitability for different types of traders.
| Expert Editor 
Eugene Lee, CFA
Eugene Lee, CFA, is the Head of Research at BestBrokers.com, where he draws on more than two decades of experience in global markets, portfolio management, derivatives, and fintech to evaluate online brokers. His background in institutional investing and quantitative research helps ensure that broker reviews are based on data, risk assessment, and real-world trading conditions. 
| Updated: City Index is a UK-licensed broker providing spread betting and contracts for difference, with a proprietary trading platform, full MT4 support, and a catalog that encompasses over 13,500 markets. The broker has more than 40 years of experience in the financial industry and operates under the ownership of the publicly listed StoneX Group.
City Index provides coverage of all major asset classes, including currency pairs, stocks, indices, futures, options, and soft and hard commodities. Less common assets like bonds, thematic indices, and interest rates are available as well. While the market range is already broad, City Index currently does not enable investing in physical stocks and exchange-traded funds.
Apart from MT4, customers have the option to connect their live accounts to TradingView and the broker’s proprietary Web Trader, which is also compatible with mobile devices running iOS or Android. Retail customers can access leverage as high as 1:30, while professional accounts with higher ratios are also available.
| City Index Summary | |
|---|---|
| Year Founded | 1983 |
| Minimum Deposit | No formal account-opening minimum disclosed; sufficient funds are required to cover margin |
| Tradable Instruments | Spread bets and CFDs across forex, indices, shares, commodities, bonds, interest rates, options, and ETFs |
The broker generally uses a spread-only pricing model and charges no commissions across all asset classes except stocks. Customers have the opportunity to earn interest on their unused tradable funds, provided they meet specific conditions. The absence of minimum balance requirements makes City Index ideal for beginners and low-volume traders.
Key Pros and Cons
City Index offers an accessible setup for active traders, supported by FCA regulation and the financial strength of its publicly listed parent company, StoneX Group. Its broad range of CFDs and interest paid on tradable account balances are additional advantages. However, the broker uses a dealing-desk execution model and charges inactivity fees and commissions on stock derivatives. The absence of platforms like MT5 may also disappoint those who prefer more advanced platform features.
Key Pros
- The broker operates under license number 446717, issued by the FCA, one of the strictest financial regulators in the world.
- Customers can place spread bets or speculate on price movements through over 13,500 CFDs.
- Clients are eligible to earn interest on their unused tradable balances.
- The selection of forex markets is strong, spanning 84 currency pairs.
- The broker is part of the publicly traded StoneX Group, which is listed on the Nasdaq stock exchange.
- City Index does not impose minimum balance requirements, offering greater flexibility to traders at different experience levels.
- Retail clients are eligible for negative balance protection and investor compensation of up to £120,000 per claim.
Key Cons
- A £12 monthly fee applies after 12 months of inactivity.
- The broker is unsuitable for long-term investors due to the unavailability of physical stocks and ETFs.
- City Index operates an internal dealing desk and acts as a market maker, which can create a potential conflict of interest.
- MetaTrader 5 and cTrader are currently unavailable, which may disadvantage more advanced traders.
- Cryptocurrency derivatives are unavailable to retail customers due to FCA regulatory restrictions.
- Share CFDs incur additional commissions on top of the spreads, increasing overall expenses for stock traders.
Company Information
City Index was established in 1983 by Jonathan Sparke and Christopher James Hales and initially provided only spread betting services before expanding its product range with CFDs in 2001. The company established its market footprint early on by acquiring IFX Group, the owner of Finspread, in 2005. The broker expanded its global presence a year later by launching operations in Sydney, Singapore, and Shanghai. City Index is a pioneer in mobile trading and introduced the market’s first iPhone spread betting app in 2009, subsequently rolling it out to Android users.
Ownership changed in 2014 when FOREX.com owner GAIN Capital bought the firm for nearly $118 million, before the Nasdaq-listed StoneX Group acquired the business in July 2020. StoneX Group presently operates regulated entities in multiple countries, including Australia, Singapore, the US, Japan, Cyprus, and the Cayman Islands. Today, the group has a combined global client base exceeding 1 million traders worldwide.
- StoneX Financial Ltd operates City Index in the UK under a license granted by the Financial Conduct Authority (FCA), with registered offices located at Moor House, 120 London Wall, London, City of London, EC2Y 5ET.
- The main headquarters of StoneX Group Inc. are located at 230 Park Avenue, 10th Floor, New York, NY 10169, the United States. The company’s shares are publicly traded on Nasdaq under the ticker SNEX.
Beyond online trading operations, City Index further expanded its visibility by sponsoring Saracens Rugby Club in 2021 and rebranding its home ground as StoneX Stadium. The broker enhanced its platform suite in 2022 by acquiring Chasing Returns to power its proprietary Performance Analytics tool.
Why Trade with City Index?
City Index provides active traders with more than 13,500 markets in a Tier-1-regulated environment, including tax-free spread betting and extended trading hours for selected stocks. The broker achieves average execution speeds of 20 milliseconds and offers TradingView integration and a proprietary PlayMaker risk-management tool.
| Aspect | What We Like |
|---|---|
| Strong Regulation | City Index is licensed by one Tier-1 regulator, namely the FCA in the UK. |
| Enormous Market Selection | More than 13,500 markets are available across major and niche asset classes like forex, commodities, stocks, indices, interest rates, bonds, options, and futures. |
| Spread Betting | Traders seeking further market exposure can engage in tax-free spread betting at City Index. |
| Extended Market Hours on Stocks | Stock traders at City Index benefit from extended pre-market and after-hours access, giving them more flexibility to respond to earnings releases and significant market movements outside standard trading hours. |
| TradingView Integration | Customers can place orders directly from advanced TradingView charts using their City Index accounts. |
| Proprietary Tools | Performance Analytics is a free informational tool that monitors trades against your personal trading plan, provides real-time alerts when you approach or breach your risk limits, and rates your discipline level to help reduce emotional or costly trading mistakes. |
| Fast Execution Speed | Orders are executed within 20 milliseconds on average, greatly minimizing the risk of slippage. |
Regulation
City Index operates in the UK under FCA license number 446717, which was originally granted in March 2006. UK retail clients receive negative balance protection, meaning they cannot lose more than the funds in their accounts, and are subject to strict leverage limits that vary by asset class, reaching 1:30 for major pairs and indices. Eligible professional traders can access maximum leverage of 1:400 on major currency pairs and indices.
In line with FCA restrictions imposed in January 2021, City Index does not offer leveraged cryptocurrency derivatives to retail clients. Clients additionally have access to the Financial Services Compensation Scheme (FSCS), which may cover eligible investment claims of up to £120,000 per person if City Index becomes insolvent. Traders have the opportunity to escalate unresolved complaints to the Financial Ombudsman Service for an independent review if they fail to reach an agreement with the broker.
| Region | Entity | Authority | License | |
|---|---|---|---|---|
| United Kingdom | StoneX Financial Ltd | Financial Conduct Authority (FCA) | FRN 446717 | |
City Index previously operated retail arms across parts of the Asia-Pacific region. However, StoneX has since consolidated these operations under a different brand. Client accounts at City Index Singapore were transferred to its sister site, FOREX.com, in April 2025, followed by the rebranding of its Australian subsidiary in August 2025.
KYC Procedure for Account Creation and Depositing
Opening an account with City Index takes roughly 5 to 10 minutes, but full account verification can require up to one business day. To satisfy Know Your Customer (KYC) requirements, new applicants must upload valid documents confirming both their identity and residential address.
The broker accepts a passport, driver’s license, or government-issued ID card for identity verification. Acceptable options for proof of address include a recent bank statement, credit card statement, or utility bill covering water, gas, electricity, cable, or landline phone services. If the utility bill is under a landlord’s name, an accompanying lease or rental agreement is required.
All documentation must be clear and fully visible, displaying both the front and back without cropping or truncation. The files must clearly display the applicant’s full legal name as entered on the application, along with a distinct photo and document number. After submission, City Index communicates approval updates directly via email, although submitting unapproved document types can cause unnecessary delays in account processing. Here are all the steps that new customers must complete:
- Provide Email: After initiating registration, customers must enter a valid email address registered in their name in the designated field. They have the option to subscribe to the City Index newsletter for market news and updates.
- Provide Personal Information: Enter your preferred password and username and provide your personal information, including your first and last name, date of birth, and mobile phone number.
- Select Account Type: Customers can choose from CFD Trading, MetaTrader 4, and Spread Betting accounts.
- Provide Residential Information: Enter your current residential address, including your postal code, house or building number, and city. At this stage, you must also specify your citizenship and tax residency if you are not a UK citizen.
- Provide Employment and Financial Information: Specify your employment status, employer’s name if employed, and industry. You must also choose a base account currency (GBP, USD, or EUR) and specify your total annual income, savings, investments, and initial deposit. City Index will also inquire about your source of wealth and funds.
- Complete the Experience Test: Answer the questions in the quiz so that City Index can determine whether you are experienced and knowledgeable enough to engage in CFD trading and spread betting.
- Complete Registration: Choose your preferred contact channels and agree to the terms and conditions to create an account.
- Verify Your Account: City Index will prompt you to upload documents to confirm your identity and address.
Account Types
City Index caters to a broad range of market participants by offering CFD trading, tax-free spread betting, and dedicated MetaTrader 4 accounts. New customers can evaluate the broker risk-free using a virtual demo account before funding their live accounts, while experienced traders who satisfy the volume and experience criteria can upgrade to a professional account to unlock maximum leverage ratios of 1:400. Additionally, corporate accounts allow institutional entities and registered businesses to trade company capital directly, enabling multiple authorized representatives to manage positions under a single corporate entity.
- Standard accounts offer commission-free pricing with variable spreads for CFD trading and spread betting.
- MT4 accounts enable CFD trading with tighter spreads and no commissions.
Standard Account
Standard accounts are available in two formats, for CFD trading and spread betting, enabling customers to go long or short on over 13,500 global markets across major asset classes like forex, indices, stocks futures, and commodities. Orders are executed commission-free with spreads starting from 0.7 pips on EUR/USD. Only positions in stock CFDs are subject to commissions. The account is compatible with the broker’s proprietary web-based platform and comes with integrated TradingView charting.
Account holders benefit from built-in performance analytics, chasing returns research tools, and live Reuters newsfeeds. Additionally, active clients maintaining a minimum average monthly tradable balance of £20,000 can request interest payments on their unallocated balance. The account is available in several base currencies: GBP, USD, and EUR. Retail leverage is capped at 1:30.
MT4 Account
The City Index MT4 account is intended specifically for CFD trading rather than spread betting and requires an initial deposit of £100. It provides access to over 300 financial markets spanning several asset classes like currency pairs, indices, and commodities. Similarly to Standard accounts, MT4 accounts have a cap of 1:30 on maximum leverage for retail customers.
Traders again incur no commissions except when opening positions in stocks. The account offers lower spreads that start from 0.5 pips. Account holders benefit from additional features like custom indicators from FX Blue, Expert Advisors (EAs) for algorithmic trading, Chasing Returns analysis, and live market feeds. Furthermore, active clients are also eligible for the interest payment scheme with a 2% initial rate on their average monthly balances.
Corporate Accounts
The corporate account at City Index provides registered businesses and institutional clients with access to over 13,500 tradable financial markets. It has the same features and capabilities as Standard accounts but operates under a corporate structure, allowing account holders to trade under their official business name and assign authorized individuals to place orders and manage positions. The account balance can be funded through a corporate bank account or card.
A company must hold at least £50,000 in its current account to become eligible. Verification requires comprehensive background information, including the business address, banking records, compliance status, and source of funds. Applicants must also submit supporting corporate documentation, such as proof of incorporation, proof of registered address, a Memorandum and Articles of Association, financial statements from the past two years, and identity details for all directors and key shareholders.
Professional Accounts
Professional accounts at City Index cater to experienced, high-volume traders seeking higher leverage of up to 1:400 for forex and major indices, 1:200 for gold, 1:33 for stocks, and 1:20 for cryptocurrencies. To qualify, you must meet at least two of the following three conditions under FCA requirements: you must have placed 40 or more large orders in the past year (10 per quarter), possess a financial portfolio valued at €500,000 or more, or have at least one year of relevant professional experience in the financial industry.
While their leverage ratios are significantly higher, professional clients are not entitled to negative balance protection. The account comes with several institutional-style benefits, including monthly volume-based cash rebates on forex and index positions, priority support from a dedicated account manager, and access to interest-free credit facilities.
Demo Accounts
Retail traders can practice and test new strategies on both Standard and MT4 accounts in a risk-free demo environment. Each demo account is loaded with £10,000 in virtual funds and remains active for a 12-week trial period. Users gain access to real-time pricing across thousands of instruments, including stocks, forex, indices, and commodities, for both CFD trading and spread betting.
The demo environment enables new clients to try various features, such as TradingView charts and technical analysis from Trading Central. However, overnight financing and rollover charges are not fully simulated. Should a demo account expire or run out of virtual funds, traders can open as many additional accounts as they want, provided a unique email address is used for each application.
Trading Fees and Other Costs
City Index uses a straightforward, spread-only pricing model for Standard accounts. Commissions on MT4 accounts are charged only on positions involving stock CFDs. Spreads are either fixed or variable, depending on the traded instrument. Positions held overnight are subject to standard financing charges and swap rates. Deposits and withdrawals are free, but currency conversion and inactivity fees may apply in certain instances.
- Trading fees include spreads, commissions on stock positions, and swap charges on positions held past the market rollover.
- Non-trading fees are charged for currency conversion and account inactivity over extended periods.
| Cost/Fee | What It Covers | At City Index |
|---|---|---|
| Spread | The difference between the bid and ask prices | EUR/USD spreads start from 0.7 or 0.5 pips, depending on the account type. |
| Commissions | Charged when opening or closing positions | CFD positions in stocks incur commissions. All other asset classes are available for commission-free trading. |
| Financing Charges | Apply when holding positions on margin past market rollover | Futures incur no financing charges. For most other asset classes, financing rates are calculated by adding or subtracting 3% from the regional benchmark interest rates. |
| Deposit Fees | Deducted when funding your balance | No deposit fees are charged by City Index. (See more in Deposit Methods below.) |
| Withdrawal Fees | Apply when withdrawing money from your balance | City Index does not impose fees on withdrawals. (See Withdrawal Methods for more.) |
| Currency Conversion Fees | Deducted when trading, depositing, or withdrawing in currencies different from the account’s base currency | City Index may charge plus or minus 0.5% of the quoted prices for currency conversion on CFDs. Spread betting does not involve conversion charges. |
| Inactivity Fees | Charged on live accounts after extended periods of inactivity | City Index charges £12 per month after one year of inactivity. |
Spreads
City Index offers both fixed and variable spreads, depending on the specific asset class. Fixed spreads remain constant regardless of market liquidity or volatility and are available either continuously or during specific trading windows. Conversely, variable spreads adjust dynamically to reflect changing market conditions and volatility levels.
| Instrument | Minimum Spreads for Standard Accounts | Average Spreads for Standard Accounts |
|---|---|---|
| EUR/USD | 0.70 pips | 0.80 pips |
| GBP/USD | 1.10 pips | 1.80 pips |
| USD/JPY | 0.60 pips | 0.80 pips |
| AUD/USD | 0.50 pips | 0.80 pips |
| EUR/GBP | 1.00 pips | 1.70 pips |
The broker shows both minimum spreads and historical averages for instruments with variable spreads. Pricing may also be affected by the type of account you open. Standard accounts offer minimum spreads of 0.7 pips and averages of 0.8 pips on EUR/USD, whereas MT4 accounts have lower minimum spreads starting from 0.5 pips.
- Standard Account
- Minimum Spread: 0.7 pips
- TOTAL COST: 0.7 x $10 = $7.00 per side or $14.00 round-turn
- MT4 Account
- Minimum Spread: 0.5 pips
- TOTAL COST: 0.5 x $10 = $5.00 per side or $10.00 round-turn
As the examples above illustrate, the MT4 account offers better value for traders seeking to reduce their overall expenses. It has a minimum spread of 0.5 pips, resulting in a total round-turn cost of $10, compared with $14 on the Standard account. Lower total expenses make MT4 accounts the more cost-effective option for high-volume traders and scalpers. Let’s now see how City Index compares with other popular brokers in terms of average spreads for commission-free accounts.
| Instrument | City Index (Standard Account) | Fusion Markets | Pepperstone | FP Markets |
|---|---|---|---|---|
| EUR/USD | 0.80 | 0.90 | 1.10 | 1.17 |
| GBP/USD | 1.80 | 1.04 | 1.20 | 1.43 |
| USD/JPY | 0.80 | 1.04 | 1.20 | 1.64 |
| AUD/USD | 0.90 | 0.91 | 1.10 | 1.40 |
| EUR/GBP | 1.70 | 1.03 | 1.30 | 1.40 |
City Index has a clear advantage on several major currency pairs, with average spreads of 0.80 pips on EUR/USD and USD/JPY and 0.90 pips on AUD/USD. These spreads are noticeably lower than those offered by Fusion Markets, Pepperstone, and FP Markets on the same pairs.
That said, City Index has more expensive pricing than its rivals on other popular pairs like GBP/USD and EUR/GBP, quoting averages of 1.80 pips and 1.70 pips, respectively. Overall, while the Standard account is exceptionally cost-effective for USD-based major pairs, traders focusing heavily on GBP or EUR crosses may find better commission-free pricing elsewhere.
Commissions
City Index uses a spread-only pricing model on most asset classes, so traders typically do not pay separate commissions when entering or exiting positions. CFDs on stocks are the sole exception, as they incur additional commissions on both Standard and MT4 accounts.
Spread betting accounts, however, enable entirely commission-free trading. The commission structure for stock CFDs varies by region. UK and European equities are charged at 0.08%, with a minimum of £10 or €10, respectively. Australian equities also carry a 0.08% commission with an A$5 minimum. Commissions on Singaporean stocks start from 0.08%, with an S$10 minimum. US stocks are priced at 1.8 cents per share, subject to a $10 minimum commission per side.
Financing Charges
Holding a leveraged position overnight incurs a financing charge for the borrowed capital. This charge is applied every day, including weekends. Futures contracts are exempt from these fees, as all costs are embedded in the spreads. City Index uses standard swap points to calculate the daily adjustment for spot forex pairs.
For other non-expiring CFDs, the financing rate is set at the regional benchmark interest rate plus or minus 3%. Long positions incur the applicable benchmark plus 3%, whereas short positions credit or debit the benchmark minus 3%. These benchmarks include SONIA for UK markets, SOFR for US markets, €STR for EU trades, and local central bank deposit rates for Australian markets.
Deposit and Withdrawal Fees
City Index does not levy any fees when customers deposit funds into their accounts, regardless of whether they use debit cards, credit cards, or direct bank transfers. However, card issuers may independently charge cash advance fees for credit card transactions. Withdrawals are also fee-free when using cards or standard BACS (Bankers’ Automated Clearing System) bank transfers.
Inactivity Fees
City Index classifies an account as inactive after 12 consecutive months without trading activity, which strictly requires executing a trade or maintaining an open position. Placing pending orders does not qualify as activity. A monthly maintenance fee of £12 is deducted from the remaining balance of dormant accounts, but the broker may deduct the full balance if it is under £12. Accounts that use the dollar or euro as their base currency are charged $15 or €15 per month, respectively.
Overall on Fees
All in all, City Index offers competitive spread-only pricing across most asset classes, especially on USD-based forex majors. MT4 accounts provide better value thanks to their lower baseline spreads, but stock CFDs are subject to regional commissions on both retail account types. Non-trading costs are generally low, as the broker charges no deposit or withdrawal fees. That said, traders should monitor overnight swap rates, possible currency conversion charges, and the £12 monthly fee applicable after 12 months of inactivity.
Desktop Trading Platforms
City Index gives desktop traders three platform options: the award-winning proprietary Web Trader, direct integration with TradingView, and the widely used MetaTrader 4 (MT4). Web Trader enables customers to trade thousands of global assets from a single interface. TradingView brings advanced charting tools and an active social community into the mix, while MT4 provides a desktop environment suitable for automated trading through Expert Advisors (EAs).
City Index Web Trader
City Index Web Trader is an award-winning, browser-based platform with integrated TradingView charts for advanced technical analysis. The proprietary software delivers fast order execution and offers customizable workspaces for both spread betting and CFD trading. Traders can access more than 13,500 global markets directly through their Chrome, Edge, or Firefox browsers, as there is no need to download or install anything to use the platform. Web Trader is equipped with advanced risk-management tools, real-time Reuters news feeds, and comprehensive market analysis tools.
- Performance Analytics: Web Trader’s Performance Analytics evaluates individual trading performance and behavioral patterns across key metrics to identify statistical strengths and weaknesses.
- Trading Central: The platform offers automated technical analysis, actionable trading ideas, and market sentiment data via the integrated Trading Central research portal.
- One-Click Trading: Traders can open positions directly from active charts to reduce order-entry friction.
- 14 Timeframes: The platform displays price data across 14 adjustable intervals, ranging from tick-by-tick movements to one month for multi-timeframe analysis.
- Over 10 Chart Types: Web Trader renders price action across more than 10 chart types, including candlestick, bar, line, Heikin-Ashi, and Point & Figure.
- Over 80 Technical Indicators: The software features more than 80 pre-built technical indicators and overlay tools for evaluating trends, momentum, and key price levels.
MetaTrader 4
City Index provides full support for MetaTrader 4 (MT4), offering traders access to over 300 forex, index, and commodity markets. Registered customers can run MT4 directly in their web browsers or download the desktop terminal. Once they create an account at City Index, the broker will email them a direct installation link.
Traders can simply open the link and follow the on-screen prompts to install the terminal on their computers. While MT4 can run on older operating systems like Windows 7, using a 64-bit version of Windows 10 is strongly recommended for optimal performance. Here is what City Index clients can expect from MT4 in terms of features:
- Expert Advisors (EAs): MT4 enables algorithmic trading through nine integrated FX Blue EAs, including tools like Sentiment Trader for tracking market sentiment.
- Custom Indicators: The platform allows users to apply custom technical scripts and overlays to analyze underlying price structures and trend development.
- Customizable Economic Calendar: An interactive macroeconomic calendar is integrated into MT4 to track global economic news releases and assess their impact on the market.
- MT4 VPS Hosting: City Index offers virtual private server (VPS) hosting on Unix servers, allowing traders to run their EAs 24/6 without interruption.
- Hedging Capabilities: Hedging permits traders to manage their net risk exposure by simultaneously holding long and short positions in the same financial instrument.
- Charting Features: MT4 users at City Index have access to nine timeframes, 24 graphical objects, and 30 standard indicators. Additionally, they can access over 2,000 free and 700 paid technical indicators.
- Multiple Order Types: MT4 supports market orders alongside pending orders such as buy-limit, sell-limit, buy-stop, sell-stop, limit, and stop-loss orders.
TradingView
City Index’s TradingView integration gives traders access to advanced charting and screening tools for forex, stocks, indices, and commodities. Customers can use it directly in a web browser or through a dedicated desktop terminal. They can connect by logging into their TradingView accounts and finding City Index in the Trading Panel. Traders should then click “Trade” and sign in with their City Index login credentials. The platform is known for its active social trading community, whose members can exchange ideas, follow other traders’ strategies, and discuss price movements in real time. The main features of TradingView include:
- Social Trading: TradingView connects users to a global trading community where members publish, evaluate, and share ideas and custom indicator scripts.
- Advanced Charting: The platform offers more than 50 drawing tools, 12 chart types, and multi-timeframe analysis. Additionally, it enables users to place orders via drag-and-drop order brackets directly on active charts.
- Technical Analysis: Traders have access to over 100 pre-built technical indicators, plus extensive libraries of user-created custom scripts for price analysis.
- Strategy Tester: You can backtest trading strategies against historical market data and generate detailed performance reports.
- TradingView Alerts: The platform supports 12 configurable alert conditions based on price-action thresholds, technical indicators, and automated strategies.
- Screeners and Comprehensive Reports: Built-in market screeners and financial data modules are available directly from the charting interface, allowing users to evaluate different assets against both technical and fundamental criteria.
Mobile Trading Platforms
The native City Index mobile apps are available for iOS 15.0 or later and Android 7.0 or later, providing seamless account management, spread betting, and CFD trading across more than 13,500 markets. Built for flexible execution, the applications offer one-click trading and integrated Performance Analytics for reviewing key historical metrics directly on handheld devices.
Market analysis is facilitated through full-screen TradingView charts that adapt to both portrait and landscape modes. Traders can tap smaller chart windows to adjust timeframes, scroll through historical data, and apply over 60 technical indicators. Active positions and pending orders appear directly on the charts, allowing traders to monitor their proximity to stop or limit levels. Additionally, the app provides real-time price alerts and live notifications to help users track significant market movements while on the move.
| City Index Proprietary Mobile App | ||
|---|---|---|
| Feature | Android | iOS |
| Minimum System Requirements | 7.0 or later | 15.0 or later |
| User Rating | 3.5 / 5 | 3.9 / 5 |
| User Reviews | 312 | 148 |
| Supported Languages | English, Japanese, Polish, Chinese, German, Spanish | English, Japanese, Polish, Chinese, German, Spanish |
| Forex Pairs | 84 | 84 |
| Other Tradable Assets | Commodities, stocks, indices | Commodities, stocks, indices |
| Features | Real-time analysis, news releases, and commentary from in-house analysts; one-click trading; full-screen TradingView charts; over 60 technical indicators; real-time price alerts; adjustable timeframes on charts; educational videos, webinars, and articles | Real-time analysis, news releases, and commentary from in-house analysts; one-click trading; full-screen TradingView charts; over 60 technical indicators; real-time price alerts; adjustable timeframes on charts; educational videos, webinars, and articles |
| Biometric Authentication | Yes (fingerprint and facial recognition) | Yes (fingerprint, facial, and eye recognition) |
| Two-Factor Authentication | Yes | Yes |
Trading Instruments
As of August 2026, City Index enables trading in over 13,500 financial markets through spread betting or contracts for difference. The selection encompasses all major asset classes and includes 84 forex pairs, over 40 indices, 26 commodities, over 40 options, more than 4,700 stocks, hundreds of futures, and exchange-traded funds.
Additionally, the brokerage offers coverage of niche markets like interest rates, thematic indices, and bonds, allowing for further portfolio diversification. That said, market depth varies significantly depending on the account type and platform. The proprietary Web Trader provides access to the full catalog of tradable instruments, while MT4 accounts enable trading in a limited selection of around 300 markets. Here is how City Index compares with other popular brokers in terms of market range.
| Asset Class | City Index | FP Markets | Fusion Markets | |
|---|---|---|---|---|
| Forex | 84 | Excellent | 70 | 90 |
| Indices | 40+ | Excellent | 19 | 15 |
| Stocks | 4,700+ | Very Good | 10,000 | 110 |
| Cryptocurrencies | N/A | N/A | 12 | 12 |
| Commodities | 26 | Very Good | 12 | 15 |
| Options | 40+ | Very Good | N/A | N/A |
| Bonds | 3+ | Okay | 2 | N/A |
| Interest Rates | 3+ | Okay | N/A | N/A |
| Futures | 100+ | Very Good | N/A | N/A |
Forex
City Index provides access to 84 currency pairs, covering majors, minors, and exotics through spread betting or spot CFDs. Standard Web Trader accounts offer minimum spreads from 0.7 pips on major currency pairs such as EUR/USD and USD/CAD. Forex positions incur no additional commissions, as costs are largely covered by the spreads.
In compliance with FCA regulations, retail accounts are eligible for maximum leverage ratios of 1:30 on major forex pairs and 1:20 on minor pairs. However, qualifying elective professional traders can access higher leverage limits of up to 1:400 on forex majors, significantly reducing initial margin requirements to 0.25%.
Indices
City Index offers exposure to around 40 index markets, providing global coverage across key regions like Europe, North America, Australia, and Asia. Traders can speculate on major benchmarks like the UK 100, US 500, Germany 40, Japan 225, and Australia 200, with competitive spreads starting from 2.4 pips.
Beyond regional benchmarks, City Index offers sector and thematic indices, which allow traders to speculate on entire industries or trends through a single basket of underlying stocks. Some themes include AI, ESG, and FAANG+. Retail customers can trade indices with maximum leverage of 1:20 on major benchmarks and 1:10 on minor or thematic baskets, whereas professionals can access ratios as high as 1:400.
Commodities
City Index covers more than 26 commodity markets available for spread betting and CFD trading, allowing clients to speculate on energy products, metals, and agricultural products. Precious and industrial metals include gold, silver, copper, platinum, and palladium, with gold spreads starting from 30 pips.
Other hard commodities include copper and energy products like US crude oil, alongside an extensive range of soft commodities, including wheat, corn, soybeans, sugar, coffee, orange juice, and lean hogs. Leverage limits for retail traders are capped at 1:20 for gold and 1:10 for all other commodities. Professionals can trade with maximum ratios of up to 1:200.
Stocks
The broker provides access to over 4,700 stocks tradable through CFDs or spread bets. Customers can take long or short positions on major companies like Apple, Amazon, Tesla, Nvidia, Alphabet, Microsoft, and Netflix, among others. While spread betting on equities is completely commission-free, stock CFDs incur a 0.08% commission with a minimum charge of 10 base units in the traded share’s currency.
To help traders react to earnings releases and macroeconomic news outside regular exchange hours, City Index offers extended-hours trading on more than 170 US stocks. Over 100 of these equities, including the Magnificent Seven, can be traded 24 hours a day, from 9:00 AM on Mondays to 10:00 PM GMT on Fridays. Leverage is capped at 1:5 for retail clients and 1:33 for professionals.
Futures and Options
City Index offers hundreds of futures markets for spread betting and CFD trading, allowing customers to speculate on price movements outside standard trading hours. Futures spread bets cover forex, commodities, major indices, individual stocks, bonds, and select ETFs, while CFD futures focus mainly on indices, commodities, and bonds. Financing charges are built into the price, so futures positions roll over automatically with no separate overnight fees. Retail traders can access leverage of up to 1:20 on futures, depending on the underlying asset.
The broker covers more than 40 options markets, including key equity indices like the UK 100, US 500, and Germany 40, as well as a range of currency pairs and major commodities. You can choose from daily, monthly, or quarterly expiries to take advantage of different time horizons. Options are priced solely through the bid-ask spread. There are no additional commissions or daily overnight financing charges.
Bonds and Interest Rates
City Index lets clients trade bonds and short-term interest rates via spread betting or CFDs, providing two ways to hedge or take a view on macroeconomic rate movements. When it comes to government bonds, traders can go long or short on major sovereign markets, including the UK Long Gilt, US T-Note, and Euro Bund, while interest rate products cover short-term instruments such as Eurodollar, Euribor, and Short Sterling. Both asset classes are tradable commission-free and require a 20% margin, which translates to maximum leverage of 1:5 for retail accounts.
What You Cannot Trade
Although City Index offers an expansive library of over 13,500 markets, including niche derivative instruments like bonds and short-term interest rates, certain asset classes are still unavailable. Most notably, the broker does not support direct ownership of stocks or ETFs, nor does it offer cryptocurrency derivatives to retail traders.
- Cryptocurrencies: The FCA introduced restrictions on cryptocurrency derivatives in early 2021 to protect retail clients from their extreme volatility and excessive risk. Professional traders and institutional clients are exempt from this retail ban and can trade cryptocurrency CFDs with leverage of up to 1:20 at City Index.
- Physical Shares and ETFs: Customers cannot purchase physical stocks or ETFs at City Index. This makes the broker unsuitable for buy-and-hold investors who want to benefit from dividends, use dividend reinvestment plans, or avoid the overnight financing charges that come with CFDs.
Trade Execution
City Index operates as a principal market maker under StoneX Financial Ltd, serving as the direct execution venue and counterparty for all client CFD and spread betting orders. Rather than routing orders to external liquidity providers, City Index matches trades internally against its proprietary liquidity and delivers rapid average execution speeds of approximately 20 milliseconds.
Because the broker acts as a direct counterparty, retail traders execute bilateral contracts that must be opened and closed solely with StoneX Financial Ltd. To maintain execution integrity and reduce potential conflicts of interest inherent in the market-maker model, City Index continuously monitors pricing fairness against external benchmark references, actively flagging and monitoring any price variances greater than 0.2% as potential outliers.
The broker actively tracks fill distributions, order logic, rejection rates, and slippage. Additionally, positive price improvements are passed on to traders, and clients can review quarterly best-execution performance reports published directly on the broker’s dedicated regulatory pages.
Deposits
Opening a live account with City Index requires no specific minimum balance, although clients must deposit sufficient capital to cover the margin requirements of their initial orders. Some deposit methods have minimum transaction limits. For example, card deposits must be at least £100, but bank transfers have no minimum. Other accepted base currencies include EUR, USD, CHF, and PLN.
Supported deposit methods include Visa, Mastercard, Maestro, and Electron debit cards, Visa and Mastercard credit cards, and direct bank transfers. The broker previously worked with PayPal but discontinued it in December 2024. City Index does not charge internal fees on deposits, but some card issuers may impose additional transaction fees.
| Method | Broker Processing Time | Minimum Limit |
|---|---|---|
| Credit Cards (Visa, Mastercard) | Instant | £100 or the equivalent in other base currencies |
| Debit Cards (Visa, Maestro, Mastercard, Visa Electron) | Instant | £100 or the equivalent in other base currencies |
| Bank Transfers | 1 to 3 business days | No minimum limit |
There are several important restrictions regarding deposit methods. For example, Citibank cards cannot be used to fund spread betting accounts; a bank transfer is required instead. Additionally, cash deposits made at bank branches are not accepted. In line with regulatory requirements, third-party deposits are prohibited and will be returned to the original source. Account holders can register up to three active cards at the same time.
Withdrawal Methods
City Index uses the same payment methods for withdrawals as it does for deposits, so clients can receive funds on their credit or debit cards or request a bank transfer. The minimum withdrawal is £100, or the full remaining balance if it is below that amount. Maximum withdrawals are generally capped at £20,000 per transaction. However, credit card withdrawals are restricted to £20,000 within 24 hours. If customers need to move larger amounts, they should contact the broker’s client management team to arrange a manual transfer.
All standard withdrawals are free of internal fees. Card payments usually take 3 to 5 business days, while domestic bank transfers take 1 to 2 days. If a customer’s bank is on the Faster Payments network, the funds can clear in a single business day. A small number of Visa and Mastercard credit cards cannot receive direct refund payments due to technical restrictions. In those cases, City Index will prompt traders during the withdrawal process to select an alternative registered bank account to receive the funds.
| Withdrawal Method | Timeframe | Fees | Withdrawal Limits |
|---|---|---|---|
| Credit Cards | 3 to 5 business days | Free | £100 to £20,000 every 24 hours |
| Debit Cards | 3 to 5 business days | Free | £100 to £20,000 per transaction |
| Domestic Bank Transfers | 1 to 2 business days | Free | £100 to £20,000 per transaction |
Customer Support Contacts
City Index offers dedicated customer support 24 hours a day, five days a week, in line with the operating hours of global markets from Sunday evening through Friday afternoon. Traders can contact the team via live chat, phone, or email. There is also a self-service online help center for common platform and account questions.
Feedback on City Index support is generally positive on consumer review sites like Trustpilot. Clients often note that the team is professional and responsive, resolving issues quickly and providing helpful guidance during account registration. Many also appreciate the practical benefit of speaking with knowledgeable human representatives rather than relying only on automated bots.
| Contact Channel | Availability | Average Response Time |
|---|---|---|
| Live Chat | From 10 AM on Sundays to 5 PM on Fridays, UTC/GMT +1 | A few seconds to several minutes, depending on workload |
| Telephone | From 10 AM on Sundays to 5 PM on Fridays, UTC/GMT +1 | Within several minutes |
| From 10 AM on Sundays to 5 PM on Fridays, UTC/GMT +1 | Typically one business day | |
| Help Center | 24/7 | Immediate access |
- Live Chat: The chat facility can be accessed by navigating to the website’s Contact Us page. A chatbot will initially start the conversation and ask for the customer’s name and email address. Once customers provide this information, they are transferred to a human agent.
- Telephone Line: Telephone support is available from 10 AM on Sundays to 5 PM local time on Fridays. UK customers benefit from a toll-free number, while those calling from outside the country incur additional charges.
- Toll-Free Number: 0800 060 8609
- Standard Landline Number: 0203 194 1801
- Email: Customers seeking email support can send their queries directly to support.uk@cityindex.com. Alternatively, they can fill in the contact form on the website, providing their first and last name, email address, and reason for contacting support. They can then submit a request outlining their specific issue or query.
- Help Center: The help center provides answers to common questions related to account opening and management, funding and withdrawals, trading costs, demo accounts, margin and leverage, and order types.
- Social Media: City Index maintains a presence on social platforms like X, Facebook, Instagram, and LinkedIn. The broker also has a dedicated YouTube channel with educational videos and market analysis.
Research and Educational Materials
City Index offers a relatively competitive range of research tools and educational materials, aimed predominantly at beginner and intermediate traders. The market analysis section delivers actionable daily technical and fundamental insights. The educational section features well-organized trading courses, lessons, and live webinars hosted by a team of in-house analysts. Overall, City Index stands out for its institutional-grade analysis and focus on trading psychology. This makes it a good fit for traders looking to build structured strategies and improve their discipline.
- Week Ahead is a regular editorial preview that outlines upcoming macroeconomic events, central bank meetings, and earnings reports to help traders prepare for potential volatility.
- The Trade Ideas section contains concrete ideas based on technical chart patterns and key fundamental drivers across major asset classes.
- Market Alerts are real-time notifications that keep customers informed of dramatic price swings, key technical breakouts, and unexpected macroeconomic developments.
- The Popular Topics section features articles and guides centered on trending themes like interest rate changes, rallies in the technology sector, and fluctuations in commodity prices.
- The trading courses and lessons are structured into separate categories like Beginner, Intermediate, and Advanced, covering everything from the basics of trading to more complex technical analysis, chart-pattern interpretation, and fundamental analysis.
- Free live webinars are hosted by in-house market analysts like Matt Weller, CFA, CMT, James Stanley, and Fiona Cincotta. The experts provide real-time chart analysis and discuss different strategies, covering styles like swing, trend, and mean-reversion trading.
- The integrated economic calendar tracks key global economic releases, showing consensus estimates, previous values, and market volatility ratings.
- The Performance Analytics tool is powered by PlayMaker and analyzes your trading behavior to highlight behavioral biases, track risk-management metrics, and help improve discipline in real time.
Security and Money Guarantees
City Index is backed by the long-standing financial stability of StoneX Group Inc., a publicly listed Fortune 500 company. The financial strength of its parent company reinforces City Index’s balance-sheet resilience and helps ensure that the broker can withstand periods of extreme market volatility, minimizing the risk of operational default.
Client funds are safeguarded under FCA regulations and held in segregated accounts at approved Tier-1 banks, entirely separate from the broker’s capital. This arrangement ensures that customers’ funds cannot be used for operational expenses or hedging. Retail traders also benefit from negative balance protection, which prevents account balances from going into the red during severe market gaps and periods of increased volatility. However, this feature does not extend to professional accounts. Leverage caps are applied across all asset classes to help protect retail customers from taking on unwarranted risks.
If City Index were to become insolvent, eligible UK retail clients would be covered by the Financial Services Compensation Scheme (FSCS) for up to £120,000 per person. Note that investor compensation does not apply when a customer suffers losses due to poor trading decisions or market volatility. The broker also maintains a formal support framework for vulnerable clients, providing specialized communication assistance and adjusted account controls for traders experiencing financial distress, health conditions, or difficult life circumstances.
Conclusion and Overall Rating
In a nutshell, City Index offers transparent pricing in a well-regulated environment and is mainly suitable for short-term derivatives traders, active market participants, and spread bettors seeking potential tax efficiency. Operated by the well-established StoneX Group, the broker provides impressive market coverage spanning thousands of financial instruments.
Its extensive catalog is complemented by reliable order execution, with average speeds of 20 milliseconds, and proprietary tools like Performance Analytics. While the absence of physical stocks and the unavailability of crypto derivatives for retail customers may put off some traders, City Index remains a viable choice for active traders who want competitive spreads, fair conditions, and seamless execution.
- Strong Corporate Backing: The broker is operated by the publicly listed StoneX Group.
- Tier-1 Regulation: City Index is strictly regulated by the FCA, which is considered a Tier-1 financial watchdog.
- Extensive Market Range: The broker’s selection spans over 13,500 tradable derivative markets across popular and niche asset classes.
- Reliable Order Execution: City Index fills client orders with an average speed of approximately 20 milliseconds.
- Competitive Spreads: Spreads for certain account types can start from 0.5 pips on major currency pairs.
- Spread Betting: UK-based clients have access to tax-free trading opportunities, as the broker provides thousands of markets for spread betting.
- Investor Compensation: Clients are eligible for compensation of up to £120,000 if the broker becomes insolvent.
- Behavioral Analytics: City Index integrates proprietary tools like Performance Analytics, allowing customers to track various performance metrics, manage trading risk, and mitigate emotional trading biases.
- Extended Hours on Stocks: The broker supports 24-hour weekday trading on over 100 popular US stocks, including companies from the Magnificent Seven.
- Research and Education: Clients benefit from structured trading courses, free webinars, and actionable trade ideas through the City Index Trading Academy.
About the Editorial Team