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 once 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.

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City Index Customer Reviews

It's all very well reading our expert opinion, but one of the best ways to learn more about a broker is to hear what their client think about them. Read real City Index customer reviews below, or add your own for a chance to win £1,000 Amazon vouchers in our broker of the year award.

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Average rating:  

 2 reviews

by Hymie Zar on City Index
  • Trading Platform 5/5
  • Customer Service 5/5
  • Mobile Apps 5/5
  • Spreads & Pricing 5/5
  • Market Range 5/5
  • Trade Execution Speed 5/5
  • Added Value 5/5

Trading platform slick and performs fast and accurate.Never had cause to complain.Great service.One touch trading excellent. (Trading forex and indices with City Index Spreads for over 5 years on a daily basis)

by COLINAUTHERS on City Index
  • Trading Platform 5/5
  • Customer Service 5/5
  • Mobile Apps 5/5
  • Spreads & Pricing 5/5
  • Market Range 5/5
  • Trade Execution Speed 5/5
  • Added Value 5/5

All good 4 me. (Trading stocks with City Index for over 5 years on a weekly basis) 



City Index Expert Review

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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City Index Login & Account Opening

As with most brokers you can open a trading account with City Index online. The process for most brokers is fairly stream lined. When you apply to open an account with City Index your identity will be checked online and normally goes straight through for UK residents. However, if you move a lot or live abroad you may have to provide proof of identity documentation. This is an anti money laundering requirement by the regulators. Logging into City Index is fairly standard, through the website, app or mobile, no hoops to jump through and you can remain logged in to City Index for quick access to the trading platform.

City Index contact details

The best way to contact City Index is to give them a call, as they have experienced front and back offices staff that can assist with any problem or query. City Index contact details are below:

  • Email:
  • Phone 0845 355 0801
  • Address: Park House, 16 Finsbury Circus, London EC2M 7EB

Testing City Index with a demo account

If you want a City Index demo account you can test the platform before you apply for a live account. You get full access to the City Index trading platform for twelve weeks. Giving you plenty of time to review City Index before depositing funds. The City Index demo account comes with £10,000 in virtual cash so you can put on paper trades on thousands of markets (City Index has one of the most comprehensive coverages) on shares, indices, cryptocurrency, commodities and forex. You also get full access to all the features of the live platform with the City Index demo account. (some brokers restrict features from the demo account).

What's the City Index app like?

Pretty good, and is obviously available on iOS and Android. The City Index app has most of the standard features you can trade 24 hours a day, get access to all your positions. There is live streaming prices and charts so you are never out of touch with the market. The City Index app also have an economic calendar for upcoming economic announcements.

Can you trade Bitcoin with City Index?

Yes, you can trade Bitcoin with City Index. City Index bitcoin trading has the a bility to trade Bitcoin via CFDs or spread betting (for tax free profits). You can go long or short Bitcoin (profit when it goes down). City Index have competitive margin rates for Bitcoin trading and over night financing is getting lower as Bitcoin exposure becomes easier to hedge for brokers.  City Index Bitcoin pricing is sourced from multiple exchanges so spreads are better than brokers with a single pricing feed. Go long or short on Bitcoin Fixed spreads, low margin and competitive financing Multi-exchange reliable pricing

How varied is the City Index cryptocurrency offering?

Not very to be honest, you can only trade Bitcoin with City Index. Mainly due to the risks of brokers hedging Bitcoin. This is not necessarily a bad thing as the most established brokers like City Index tend to deal with larger clients so need to hedge their exposure to the underlying assets that their clients are trading. For clients, it means that City Index does not have excessive exposure to un hedged cryptocurrency positions. However, if you want a brokers that offers lots of cryptocurrencies you can compare cryptocurrency brokers here.

How to City Index deal with complaints?

City Index complaints are best dealt with over the phone in the first instance. Brokerage and trading is a relationship business. So if you have a City Index complaint, give them a call and talk to one of their experienced support staff. Especially if it;s a trading related issue. The sooner you talk to someone the better complaints are solved. City Index will have an official complaints procedure in place for clients to raise legitimate City Index complaints.

Most common City Index problems and how to deal with them.

You should have less problems with City Index than smaller brokers, because by the very nature of scale, the bigger the broker the more reliable the trading platform and infrastructure should be. However, the most common problems with trading with brokers like City Index (and other major brokers) are usually client from the client side. For example if you have a problem with the City Index trading platform you may just need a refresh or re-instal. The software and platform are regularly updated and extremely secure. Another problem you may have with City Index, could be basic mis understandings. If you are new to trading, or switching from another broker, you will come across problems or may mis-understand the way things are done.  If you don't understand something, to avoid problems don't trade. Instead, pick up the phone and talk to them and ask for help.

Is City Index reliable as a broker?

Yes, firstly, they have been in business a long time and brokers that are not reliable do not stay in business. How reliable City Index is depends on what you are trading and if they cover all the assets you want. However, City Index do offer one of the largest market ranges and are owned by Gain Capital which is listed on the New York Stock Exchange with a market cap of around $325m. So, as City Index have the capital, balance sheet, and experience, you should find City Index to be a reliable broker.

What is the City Index minimum deposit?

£100 is the City Index minimum deposit. As City Index offer CFD and spread bet trading, there are no additional commissions (other than overnight financing). So if you want to open a City Index account and put as little as £100 to test the platform in a live environment you can do so with this minimum deposit and not have it whittled away by minimum trade commission fees.

How small is the City Index minimum bet, stake and trade size?

The City Index minimum bet size depends on what you are trading. You can take a look at their trading information here to get the specifics here. You will also be able to see the City Index minimum stake size for individual indices, FX pairs, commodities and shares when you bring up a trade ticket.

Withdrawing funds from City Index.

One of the most common complaints about brokers is how difficult it is to withdraw funds. However, as they are used to dealing with large and experienced traders withdrawing funds from City Index is simple. You can withdraw up to £20,000 on the platform. For larger withdrawals you'll need to get in touch with City Index client services. Withdrawals are free of charge, unless you require a CHAPS payment, however with the fast banking network, large City Index withdrawals are usually processed and received same day.


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