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City Index Reviews
City Index are one of the largest spread betting and CFD brokers in the UK. Although, they are now owned by the Americans. Michael Spencer, the City supremo who also founded ICAP and was one the treasurer to the Tory party set up City Index (or “City” to those in the know) back in 1984. In 2014 it was sold to Gain Capital for $118m. SO if you have an account with City you actually have an account with Gain Capital.
City Index Review (updated 14/6/16)
So are City Index any good? Bottom line yes. The staff are experienced, the platform decent and they have some quite interesting added value extras.
They have celebrity trader programs getting “faces” to trade for “City” like Glenn Hoddle, Michel Roux, Ian Bowtham and Michael Owen. How exactly that is supposed to help any of their clients I do not know. It’s just a bit of fun I guess and a nod to Michael Spencer’s charity days hosted at ICAP.
If you haven’t seen them in the press over the years, all the brokers would dress up and donate the entire days commission to charity. As per celebs and even the Royals would turn up and take orders over the phone. But they wouldn’t because that would be against FCA regulations to conduct a financial transaction unless you are FCA regulated. Last time I checked the FCA register Prince William and Kate have not passed his CF21 exams.
But I digress, point is, they are a decent broker, with an established brand, even if they are now owned by our friends across the pond.
What is City Index like to trade with?
City Index does accommodate large traders if they want to put on odd positions. Or at least they used to.
Platform and Apps are pretty decent too.
What’s the main plus to City Index?
I’m not sure if there is one as far as service and functionality is concerned, but as a client you will have the added bonus of being able to track the market cap of parent company Gain Capital to see what the balance sheet looks like ( see the performance and fundamentals on Google Finance (new window)).
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