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City Index Adopts the MT4 Forex Platform

Jul 02 2013

Earlier today the British broker City Index has announced some exciting news to its traders: it has added Metatrader 4 (MT4) to its platform offering. 

Before this addition, City Index traders only had access to the broker's proprietary Advantage Trader platform – a piece of software that I personally find in need of some updating and upgrading. Supporting both forex and CFD trading, the platform comes with the standard features you would expect – market and pending order types, partial fills, one-click dealing, basic and advanced charting packages, 20 technical indicators, and so on – as you can see for yourself, nothing special. And that's a pity considering that City Index actually offers pretty decent trading conditions – capped variable spreads, reasonable leverage, etc. 
Fortunately, introducing MT4 trading sort of fixes this flaw. I am not to say that MT4 is the worlds most innovative platform, no – on the contrary. Up until recently the platform didn't support even fundamental features like single-click trading, for crying out loud. Despite its many upgrades, it has hardly began offering any revolutionary tools, and even shut down the ones offered by third-party providers like MT4i for example. 
And yet, MT4 remains the retail forex industry's favorite child for a simple reason – it's reliable and traders know they can count on it. This is why even major brokers who offer their own platforms – think and FXCM – find that they need to support MT4 as well. Other brokerages like XEMarkets and Admiral Markets go even further, pimping the platform to Mac users through designated desktop platforms. 

Who's next

City Index is not the only brokerage to adopt Metatrader along with its own trading platform: the global brokerage IG Markets that recently consolidated all its brands under, has also made it clear that it will be releasing MT4 to its customer base soon. For the time being, it is not possible to sign up for a MT4 account with IG, however we are keeping an eye on this and will let you know when this is already an option. 

The future of MT4

At this point it's really hard to say whether the forex industry is ready to get rid of MT4 and replace it with lighter, more universal platforms, or wants to keep Metatrader forever – there are many brokerages that add MT4, and then there are those who rely on either custom or multi-broker platforms like Tradable for example. None of the two groups is larger in numbers, so it is really hard to predict what direction the retail forex will take in terms of platforms and software. 

About City Index

Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.
As a group, City Index transacts in excess of 1.5 million trades every month in over 50 countries. It provides access to a wide range of instruments including margined foreign exchange, CFDs and, in the UK, financial spread betting.
City Index constantly looks to improve the performance of its platforms and expands its range of services. The result is City's customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer support.
TAGS: forex trading  forex broker  forex platform  MT4  metatrader  trading platform  custom trading platform  Tradable  City Index 

More news about City Index

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK FCA MT4, Web,
$50 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
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UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
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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
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