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City Index Review, Rating and Comparison

City Index Review - Is scam or good forex broker?

RATING: 3.3 / 3 REVIEWS ForexBrokerz City Index


Trading Accounts


Account type   Minimum deposit  Maximum leverage Average Spreads Trading platform
Forex £100 1:200 1.6 pips MT4
CFD £100 1:200 0.7 pips AT Pro, Advantage Web


Basically, City Index offers its clients two account types: CFD and Forex trading one. There is also a spread-betting account available to UK clients (with no Stamp Duty applicable). All accounts are commission-free (apart from trading in CFDs on shares), offer leverage up to 1:200 and variable spreads.


The Company. Security of funds





Gain Capital UK Limited




City Index is a UK broker that offers trading in 84 FX pairs, and various CFDs: 21 global Indices, more than 4500 global shares, over 25 global commodities bonds, options, Bitcoin and more on several trading platforms.


Founded in 1983, City Index was one of the first companies to offer spread-betting and CFD trading in the UK. In 2015, it was acquired by US forex giant Gain Capital for approximately US$148 million. So, the City Index brand is currently operated by Gain Capital UK Ltd. – a company authorized and regulated by the Financial Conduct Authority (FCA).


FCA is one of the most reliable regulators worldwide, as licensed companies must meet a number of requirements and comply with strict rules: capital adequacy (730 000 EUR), positions reporting, keeping clients` money in segregated accounts, etc.


Besides, FCA regulation includes Financial Services Compensation Scheme (FSCS), which protects consumers up to £50,000 per person.


Set up in 1999, GAIN Capital Group is now a global provider of online trading services, active in North America, Europe and the Asia Pacific regions, serving both retail and institutional. The parent company, GAIN Capital Holdings, Inc. (NYSE:GCAP), is a New Jersey-based forex and CFD broker. As a global publicly traded company, regulated in 7 jurisdictions, Gain Capital meets high standards of corporate governance, financial reporting and disclosure.


Except City Index, Gain Capital Group is operating the brands, GTX, and Gain Capital, FinSpreads, as well as the advisory CFD business Galvan and futures provider, Daniels Trading. It also offers white-label solutions for online forex trading companies.


Trading Conditions


Minimum initial deposit

In order to open an account with City Index, one has to invest £100, which is average. However, other UK CFD and spread-betting providers require none at all – IG and CMC Markets, for example.


Spreads & Commission

City Index is that it offers commission-free trading and competitive spreads, especially on the CFD account, where the average spread amounts to 0.73 pips on EUR/USD pair. Spreads on the Forex account on the MT4, on the other hand, are slightly above the average, as typical ones are around 1.6 pips for this pair.


In comparison, IG offers variable spreads, averaged 0.8 pips on EUR/USD and alos does not charge commission fees. For further information, you may check out and compare real-time spreads of 15 leading brokers here


Maximum leverage

The maximum leverage levels offered by City Index is up to 1:200, which is considered average.

If you need higher leverage ratios, many FX brokers still provide such. FXCM, for example, offers leverage up to 1:400 and you may also check out a list of brokerages providing leverage up to 1:500 or higher here. Keep in mind, however, that higher leverage involves greater risk of losses.


Trading platforms


City Index prides itself with the variety of trading platforms it offers. The list includes its clients its in-house desktop AT Pro, HTML5 Web Trader, as well as the popular MetaTrader 4.


The broker launched its Web Trader platform in 2018, which is a lot advanced than the previous Advantage Trader, which was flash-based. City Index’ new Web Trader is a state-of-art trading platform, built on HTML5, which offers traders a number of valuable features, such as:


- Fast and reliable HTML5 technology for optimum performance;

- Fully customizable workspaces allowing personalization and flexibility;

- Advanced charts with custom indicators and precision drawing tools;

- Intelligent trading tools including smarter trade tickets and advanced risk management tools;

- Curated market information with detailed market analysis to identify trading opportunities.



Click on the image to view full size.


The AT Pro platform is basically designed for advanced. Apart from the powerful charts, numerous technical indicators and customizable layout, it offers automated trading strategies. Users can code their own unique trading strategies, there is a back-testing excel tool available, and also trade signals.



In addition, the most popular forex trading platform - MetaTrader4 - is also supported by City Index.


Payment methods


Clients of City Index may use solely bank wire transfer, as well as debit/credit cards as payment methods.


It is free to make deposits from a debit card, but there is a 1.5% charge if you use a credit card.




City Index is a part of the Gain Capital group – leading forex brokerage with a global presence. It offers competitive conditions for trading in forex, CFDs , as well as spread-betting on a wide range of platforms. Here are, in a nutshell, the advantages and disadvantages with regards to City Index:




Strong regulation

Market Maker model

Tight spreads, no commission fees

Limited payment methods

Several trading platforms offered, including MT4


Part of a global major brokerage group


Extensive product portfolio offered



Latest news about City Index
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for City Index
















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con artists

Scam company who con people out of money using freezing screens unable to close out trades sometimes for cant change sl I was told to close and take loss to alter stop loss. Using a company called faraway to give poor signals which are designed to take your money and eat capital until you are margined out after eating your capital needlesly on trades you didnt close or couldnt

stephen adamson 06/09/2017


I would like to try and open an account with this broker, any advice?


ryan Maltese 03/05/2014
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