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City of London Markets Review - is it scam or safe?

City of London Markets review - Is cityoflondonmarkets.com scam or good forex broker?

RATING: 3.1 / 1 REVIEWS ForexBrokerz City of London Markets
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City of London Markets  is a UK based stocks brokering company offering a variety of services, including management services for investments in physical shares, bonds, ETFs, futures and options, as well as forex and CFD trading opportunities with a variety of market instruments. All of that is offered with six account types and an Execution-Only online platform for investors who are comfortable making their own decisions. 

 

Account type Min. deposit Max. leverage Spreads
Advisory Derivatives Account n/a

1:30

n/a
Advisory Share Dealing Account n/a n/a n/a
Advisory Stocks & Shares Account n/a n/a n/a
Advisory Self-Invested Personal Pensions Investment Account n/a n/a n/a
Advisory Small Self-Administered Schemes  Pension Investment Account n/a n/a n/a
Advisory Corporate Investment Account 60 000 GBP n/a n/a

 

The company is licensed and authorized by the Financial Conduct Authority in the UK and that makes trading with City of London Markets completely safe.

 

City of London Markets Advantages:

 

Regulated by the FCA

 

City of London Markets Limited is authorized and regulated by the Financial Conduct Authority (FCA), registration number 595844. See for yourself:

 

 

The FCA is the UK’s financial services regulator and it enforces strict rules to make sure that client money is protected.  The security of client money and assets is at the heart of the UK regulations. 

 

City of London Markets does not hold client money or assets.  Instead, the company uses custodians who are closely regulated to ensure client money is protected.  The custodians are required to hold client money in trust in one or more segregated bank accounts with the clients as beneficiaries. This protection means that client funds are held separately from the custodian’s own money and cannot be used in the course of its day-to-day business operations. In the unlikely event of a default by City of London Markets, clients will have direct access to their funds at the custodians. 

 

In addition to these regulations, further protection is provided by the Financial Services Compensation Scheme (FSCS).  The FSCS is the UK’s statutory fund of protection for customers of UK authorized financial services firms. The amount protected by FSCS will cover up to 85 000 GBP of your funds.

 

City of London Markets uses the services of two custodians, Valbury Capital Limited (FCA registration number 540418) and Jarvis Investment Management (FCA registration number 116413).

 

Besides, here you may check our list of brokers regulated by the FCA:

 

>>FCA Regulated Forex Brokers<< 

 

A variety of investment and trading opportunities

 

From the variety of investment accounts offered by City of London Markets the Advisory Derivatives Account will allow you to trade the forex and CFD markets with relatively high risk and rewards. You will be granted access to over 9000 CFDs including 22 index- tracking CFDs, 20 commodity CFDs and 7 forex CFDs across 30 exchanges worldwide.

 

Apart from that City of London Markets also offers over 179 currency crosses and 43 FX Options. 

 

City of London Markets Disadvantages:

 

No demo account directly available

 

Unfortunately we were not able to open a demo account and check the trading conditions ourselves. Still, here you may also check our list of forex and CFD brokers offer tighter spreads:

 

>> Lowest spread forex brokers<<

 

No information about the minimum deposit requirement

 

Unfortunately we are not told what is the minimum deposit requirement to open a trading account with City of London Markets. We understand only that the minimum deposit requirement for opening an Advisory Corporate Investment Account is 60 000 GBP. Just bear in mind that with most brokers you should be able to open a trading account with about 250 USD.

 

Conclusion:

 

City of London Markets is a reliable trading partner. They are properly regulated by the Financial Conduct Authority in the UK, and that means your money will be safe. Apart form that, unfortunately we were not given the chance to check the trading conditions first hand and we were not given access to the City of London Markets proprietary web based platform as well.

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Traders` reviews for City of London Markets

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