Taking a closer look at the markets offered by City Index. Here a point to note is that all assets are offered as CFDs only.
You can trade as many as 84 global FX pairs currently. The spread here remains tight and starts from only 0.5 pips with the average spreads being 0.8 pips on the EUR/USD, 0.9 pips on the AUD/USD, 0.8 pips on the USD/JPY, and 1.8 pips on the GBP/USD.
There are more than 45 commodities in total to choose from. These include soft and hard commodities as well as energies with all available as CFDs. The spread on gold starts from 0.3 pips, silver from 2 pips, US Crude Oil from 0.4 pips, and UK Crude Oil from 5 pips.
Trading on a total of 21 major indices around the world is possible as CFDs. These include all of the global majors from the US, the UK 100, and Germany 30 as well as others.
Spreads remain low and start from a fixed 1 pip which is available on the UK 100, Germany 30, France 40, and Australia 200 during market hours on daily funded trades and CFDs, excluding futures.
The average spread on the US S&P 500 CFD is 0.6 pips.
Crypto CFDs are available to Australian traders under ASIC only. There are 5 available. Bitcoin with a spread from 120 pips, Ethereum from 4 pips, Ripple from 0.6 pips, Bitcoin Cash from 2 pips, and Litecoin from 0.8 pips.
There is a wonderful range of stock CFDs you can trade with City Index. In total there are more than 4,500 global shares from major companies available. The spreads here start from 0.1% on UK Shares with the following examples for cost comparison.
You can trade Barclays shares from 0.08% / £10, Amazon from 1.8CPS / $10, and Apple shares from 1.8CPS / $10.
A total range of 12 bond markets can be traded as CFDs here. These include the UK Gilt from a spread of 0.03 pips, Euro Bond from 0.03 pips, and the US T-Bond, and US T-Note both with a spread from 0.02 pips.
Three interest rate markets are available to be traded as CFDs. These are short sterling with a spread from 0.02 pips, Eurodollar from 0.02 pips, and Euribor from 0.02 pips.
More than 20 options markets are available with daily, monthly, and quarterly options contracts tradable and low starting spreads. This spread can start from as low as 1 pip on options like the UK 100, Germany 30, and Australia 300, and from 1.6 pips on the S&P 500.
Knockout options are also available if you are outside the FCA area. These are unique as the price moves one-for-one with the underlying City Index price
Execution, leverage and position sizing
There are several key trading features to mention, some of which help set this broker apart from others in the industry.
City Index is a well-known Market Maker broker. This can provide them some flexibility in what they offer that can be of benefit to you as a trader on occasion.
City Index leverage is available. The amount will depend on where you are in the world. Traders from the EU and Australia have access to customizable leverage up to 30:1 on major forex pairs, while if you are trading in Singapore under MAS regulation, this will be 20:1 maximum.
The same leverage limits apply to professional traders even if you are using the professional account type.
The minimum trade size at the broker is the same throughout each and every account type offered. This minimum size is 1 standard lot.
The broker makes available several key tools to help you with risk management. These are offered through your trading platform for the most part and include the ability to set stop losses to help you exit losing positions, and limit orders to help you lock in profits.
They also facilitate guaranteed stop-loss orders, trailing stops, and can make margin calls if your equity falls below a certain level when trading on leverage. All of these features help manage your risk and are in place to protect you as a trader.
Trading hours vary depending on the exchange. For the forex market, this is 24 hours a day from 10 pm (UTC) on Sunday to 10 pm (UTC) on Friday. During Daylight Savings Time, these times are switched to one hour earlier.
Trading UK equities you have an opening time of 2.30 pm – 9 pm GMT while energies trade either 01:00-24:00 or 03:00-24:00, 5 days a week, and metals trade from 01:00-24:00 five days a week. Trading CFD indices will depend on the opening time of that local market.
Forbidden trading techniques
With trading techniques, you are allowed to engage in hedging, and City Index is a popular choice for this strategy. They also facilitate the use of auto trading features that you will find available with the MT4 trading platform.
Spread betting is also available though only to UK traders due to regulatory requirements.
Platforms & Mobile
Trading at City Index here is what you can expect from the trading platforms and all of the features they have to offer.
Charting and Trading tools
The broker and their trading platforms, both proprietary and MT4 are stacked with trading tools, charting capabilities, and features.
This includes more than 100 technical and indicators amid a widely customizable experience and a variety of charting styles including Candlesticks, Heiken-Ashi, and Point & Figure to identify trends and key levels with drawing tools that can help along the way.
The broker also does well in offering broad technical and fundamental analysis through their portal which scans the markets for chart patterns and presents the best buy and sell opportunities and can provide real insight.
For advanced users, there is also AT Pro with more than 100 trading signals accessible, while for everyone there is a detailed economic calendar that can chart key economic events and keep you updated at all times even direct to your chart or app.
The proprietary WebTrader found at the broker is very user-friendly and intuitive all-in.
This makes it really easy to start using and it operates with a host of advanced charts with custom indicators and is fast and reliable thanks to the HTML5 technology it employs.
The platform also offers an extremely customizable trading experience, and some of the most intelligent trading tools you will find.
MT4 is one of the best-known dedicated forex trading platforms in the industry around the world. They are the leader in terms of having a robust, easy-to-use, and customizable trading platform that is hugely reliable. As well as all of the custom indicators, professional charting capabilities, and more, you will have access to the Expert Advisors feature.
This can allow you to download and implement your own auto trading strategies, or import them from the wide community, and is a very popular feature among MT4 traders. On the platform, you can trade more than 80 Forex pairs, including majors, minors, and exotic pairs offered by City Index.
You can also access your Metatrader 4 account on the move through the MT4 trading apps on iOS and Android
City Index accommodates mobile trading well too. This caters for you to trade more than 12,000 markets through advanced, but easy-to-understand and use apps for both iOS and Android.
You will be able to access live TradingView charts and more than 60 indicators with lightning-fast execution speeds and one swipe trading all on mobile with a highly customizable experience that can fit your needs.
Real-time price alerts mean you are always in the know, and updated news from Reuters within the app means you will be able to see the news that may move the market right away.
Special features you can find on City Index
Here is a look at a few additional products you may encounter when trading at City Index:
Smart Signals is one of the latest innovations from City Index. This allows you to automatically monitor 36 major global markets and identify trading opportunities that have been historically successful and based on other patterns that will be shown on the Smart Signal dashboard.
These potential opportunities will be ready to trade on a number of short timeframes from 4-12 hours and you can also utilize the suggested order details. Though many areas are automated, the position can only be closed by you. This feature is also available on mobile under the “more” tab, and as yet is not accessible for UAE clients.
The performance analytics feature can help you in analyzing your trading history and provides insight based on three elements.
The feature is free for new City Index clients and can analyze your trading bases on psychological edges to identify how both winning and losing streaks impact your next trade, strategy edges that show your most traded products, and help identify any weakness this may cause, and finally, timing edges that can help you identify your best times to trade.
This feature again can be applied across any timeframe you want to look at and is also available on mobile under the “my trading history” tab. This feature is also not available for UAE clients
WSJ free for 1 year
Trading under MAS regulation only you may redeem 1 year of free access to The Wall Street Journal. This includes WSJ.com on any device and includes WSJ+ premium benefits program with fantastic additional events and offers. To qualify, you must open an account and meet the minimum deposit of $6,500.
These are also available under MAS regulation in Singapore and can be earned in cash monthly when you trade shares, forex, and indices.
When you trade at least the minimum volumes the rebates will be deposited in your account during the first week of each calendar month. The more you trade, the bigger the rebate.
The broker does offer crypto trading but this is only available within Australia. Since they are also only traded as CFDs no wallet is required since you never own the underlying asset so you don’t need to store them.
Social Trading – Copy Trading
At the moment, City Index does not provide any features for Social-Copy trading although this could always change in the future.