City Index Review
The popularity of online trading has exploded due to the advent of the internet and there are millions of people all over the globe who partake in it because of the tons of benefits it provides. There is no shortage of opportunities, as the forex market alone has a daily trading volume of a whopping $6 trillion and there are other markets as well. You will need a sophisticated and reliable broker to be able to access these opportunities and it will bring you to this City Index review.
Established in 1983, City Index is a multi-asset broker that has established a global presence, and its parent company, GAIN Capital, is listed on New York Stock Exchange. It caters to both retail and institutional traders and has developed a strong reputation in the market. What can it offer to you? Learn the details in this City Index review.
Regulation and security
Every trader wants a broker they can trust because you have to deposit your funds with them and also share your personal data. You do not want them to fall into the wrong hands, or be misused in any way. To prevent this from happening, you need to choose a regulated broker because it minimizes the potential for criminal activities. When it comes to the City Index broker, you will find that it is quite heavily regulated in various regions.
Its headquarters are established in the UK, so the City Index broker has a license from the Financial Conduct Authority (FCA). Apart from that, it is also regulated in seven other jurisdictions. It is licensed by the Commodity Futures Trading Commission (CFTC) in the US and is a member of the National Futures Association (NFA). It also has a license from the Australian Securities and Investment Commission (ASIC), the Monetary Authority of Singapore (MAS), and the Cayman Islands Market Authority (CIMA).
Other regulatory bodies that have issued a license to City Index include the Financial Services Authority (FSA) in Japan, the Investment Industry Regulatory Organization of Canada (IIROC), and the UAE Central Bank. It offers negative balance protection and the UK regulation means it is a member of a compensation scheme that would compensate traders in case of insolvency. The deposits on the City Index trading platform are also kept segregated for security purposes.
Range of assets
After you have checked the regulation, you should always take a look at the range of assets you can trade. This is to make sure the choices can help you trade within your risk tolerance and achieve your goals too. The City Index trading platform gives you access to more than 12,000 global markets, which ensures that everyone who decides to open an account with the broker can find assets they want to trade.
Forex and CFD trading services are offered for more than 4,500 shares, 21 global indices, 84 forex currency pairs, and 25 commodities. The City Index trading platform also has a large number of cryptocurrencies to offer, which include some of the top ones in the market. But, these are not available to UK residents as the FCA has banned crypto CFDs. You can also choose from bonds, precious metals, and options on the platform.
All your trading activities are conducted via the trading platform provided by the broker you choose and the City Index trading platform choices are quite appealing because they can cater to different types of traders. You can go with the Advantage Web platform, or download the AT Pro platform. There are mobile trading apps also available.
Most importantly, the City Index broker gives you access to the MT4 trading platform as well, which is the industry-leading trading solution that ensures efficient and smooth trading for all.
The customer support at City Index gives you various channels like live chat, phone, email, and online contact forms to choose from. They also have FAQs that give you answers to most questions.
Is City Index a scam or genuine?
There should be no doubts about the authenticity of the broker and there can be no City Index scam because it has been operating in the market for 4 decades and its regulatory record is spotless.
Once you have read this City Index review, it is easy to see that this brokerage can be the ultimate trading solution everyone needs.
City Index Review
Here you can go through our detailed City Index review and learn whether or not City Index is a legitimate or scam broker for online trading. Moreover, our cityindex.com review will also help you learn what you can expect from the City Index broker if you decide to sign up.