City index broker review: 5 Key Findings for 2020. Broker companies operate in the global financial market, the history of which mainly begins in the 2000s, less often in the 90s of the last century. How many companies can “boast” that already in the 80s of the 20th century they provided financial services to investors, managers, consultants, or individuals? There are only a few of them. And this group of “long-livers” includes the broker City Index, which is well known among professional traders and investors.
City Index, founded in 1983 in the UK, has gradually evolved into one of London’s largest multi-asset brokers, and in 2015 was acquired by GAIN Capital (NYSE: GCAP), which also owns FOREX.com.
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Today, City Index continues to operate in the UK and Asia as an independent brand under GAIN Capital, offering multiple assets that give traders access to over ten thousand products worldwide, including the recently introduced cryptocurrency Bitcoin CFDs and the development and support of one of the best online broker app on the stock market.
The most compelling proof of a broker’s reliability and safety is the presence of a reputable financial regulator. In this case, the functions of the controlling organization are performed by the FCA (Financial Conduct Authority).
City index broker review
As part of this City Index broker review, we could not fail to draw attention to the fact that the authoritative British regulator has been cooperating with GAIN Capital UK Ltd for over 15 years. During this time, the broker provided FCA employees with a huge number of reports proving that the company has the right to operate in the global financial market. For many experienced traders, this information is enough to register an account on the City Index, as well as recommend the broker to their friends and acquaintances.
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City Index strives to provide its clients with affordable access to foreign exchange and other markets, including cryptocurrency trading. This benefit is rarely mentioned in the Libertex app review.
Each request for opening an account is considered individually. Therefore, customers are offered different trading conditions from each other. There is no minimum deposit for City Index.
– minimum lot – 0.01;
– minimum spread for the EUR / USD pair – 0.5 pips;
– average spread for the same pair – 1.7 pips;
– trading leverage – up to 1: 400;
– hedging – allowed;
– scalping – allowed.
Apart from the rather large introductory section on the broker’s official website, which tells about the main nuances of trading in the Forex markets, we can say that this trading platform does not have full-fledged training courses.
The presence of a demo account on City Index largely compensates for the lack of full-fledged training courses. This function is available to all users, and virtual 10 thousand British pounds makes it possible to develop your own strategy for playing on the trading platform.
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Mobile versions of the platform for iOS and Android are often recognized as the best brokers app and allow you to easily synchronize information with the platform and use a quality product.
Looking through the ratings of brokers, it is hard not to notice that those written about City Index broker reviews focus on ways to deposit/withdraw funds. Indeed, in our time, two options for solving this problem (bank transfer and plastic card) are very few. The administration of the web resource urgently needs to solve something and look for ways to solve this problem.
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Users of City index – best brokers platform of 2020 are given the opportunity to conclude deals using the following tools:
– Currency pairs.
– Precious metals.
It’s time to conclude this City Index broker review. Despite its solid experience, reputation, and other positive factors, the City Index broker needs to eliminate some negative aspects that can alienate potential users as soon as possible. First of all, this concerns training, methods of replenishing a deposit, as well as a very slow verification procedure. If these defects are eliminated, the company will indeed be entitled to the status of one of the strongest in the world.