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City Index Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?

City Index - London-city broker with a branch in the UAE.

Yes, this broker's official website and app are legit, safe and trustworthy for UAE citizens and residents.

City Index has decent reviews on Reddit and Quora, including satisfactory ratings on sites like Trustpilot. Thus, overall this broker is considered reliable for online trading of currencies, cryptocurrencies, CFDs and stocks.

As part of StoneX Group, City Index is noted for its flexible trading platforms, outstanding mobile app, comprehensive market research, and wide choice of tradeable markets.

City Index, on the other hand, cannot compete with the finest forex brokers because of its average price and restricted MetaTrader offering.

Since StoneX Group (NASDAQ: SNEX) owns and operates City Index, the company is regarded as a safe (low-risk) FX and CFDs broker.


Incorporating cutting-edge trading tools with comprehensive research, City Index's flagship Web Trader platform is second to none.

Easy-to-use features such as integrated news headlines and market commentary are included in the City Index mobile app.

Each week, the in-house engine that powers SMART Signals subscriptions creates 200 unique trading signals.

Recently, City Index hasn't done much in the way of in-house video production (or maintaining its YouTube account).

In addition to being regulated by the Financial Conduct Authority (FCA), City Index is also regulated by the Australian Securities & Investment Commission (ASIC) (FCA).

UK citizens may take advantage of tax benefits not accessible when trading CFDs with City Index, as it does with other brokers in the country. Forex options and futures are also offered by City Index.

City Index offers CFD trading in cryptocurrencies, but not trading in the underlying asset itself (e.g. buying Bitcoin). Retail traders from any broker's U.K. firm or U.K. citizens are not permitted to trade crypto CFDs.

Trading CFDs, FX, and spread-betting products at City Index are priced in accordance with industry standards. Use City Index's own platforms or MetaTrader for the best price.

City Index's Premium Trader account is available to active traders who deposit more than £10,000, and it gives access to unique pricing, events, and material, as well as personalised customer care.

On the EUR/USD (as of August 2021), City Index lists an average spread of 1.1 pips, making the total cost somewhat over the industry average.

Starting at £4 per million if you trade more than £25 million per month, professional traders in the United Kingdom are eligible for rebates of up to £7.5 per million for volumes exceeding £300 million per month. If you're a resident of the UAE and would want to learn more about refunds, please contact the City Index Dubai office.

MetaTrader 4 (MT4), produced by MetaQuotes Software Corporation, is available alongside City Index's own customised mobile app.

There is no hiccup in the City Index app, whether you are adding alerts or transferring money into your account, reading the latest news headlines, or conducting trades. City Index also offers the MT4 smartphone app.

More than 80 indicators and sketching tools are included on the charts, which are powered by the TradingView platform.

Modules such as Technical Insights, Featured Ideas, and Analyst Views from Trading Central have been incorporated directly into the City Index mobile app. Additionally, City Index provides support for complicated order types such trailing stop-loss orders and OCOs (the ability to close all trades in one order for a given instrument).

As well as giving complete access to all of City Index's products, its in-house Web Trader platform provides a robust trading experience. Web Trader provides a wide range of sophisticated features and outstanding trading tools, as well as access to more markets than MT4.

There are preset screeners and layouts to choose from, as well as the ability to execute sophisticated order types like OCO orders, in Web Trader. Web Trader made it simple to search across markets, from popular watchlists to integrated research, and I had no problems doing so.

Web Trader is City Index's major platform, and the AT Pro desktop platform is no longer being marketed (other than MT4).

You'll be surprised at how quick and adaptable Web Trader is. Indicators and sketching tools are provided by TradingView, which powers the charts. The option to move your stop-loss or limit order to a new price level, which causes an automated change to your choices, was one of the features I found most useful. It is particularly useful for day trading, when speed and time are of the utmost importance.

Setting up a new workspace in Web Trader may be time consuming due to the fact that widgets must be configured by hand. Other from that slight inconvenience, the site has a decent range of features, including integrated research tools from Trading Central and market commentary and headlines.. With module linkage, charts may be changed simply clicking on a symbol, and watchlists are synced across all platforms.

City Index's market research is superior than that of the competition. The sole drawback to its research coverage is that there isn't any daily video footage. A wide range of markets are covered by its in-house authored resources, and they are of excellent quality.

City Index's main platforms include Trading Central's array of research tools right in the middle of everything they do. Other research features include daily commentary from City Index's experts, news headlines from Thomson Reuters, an economic calendar provided by FxStreet, and an SMS alert service for customers who desire to get trade ideas straight to their phone.

Using City Index's Market News section, you may search for articles based on asset class, category topic, or author. In particular, I thought the Week Ahead Report, which offers charts and bullet point updates for global financial markets, to be well-written. Market projections for the next three months are also presented on occasion in the form of webinars.
Tweets by CityIndex
The amount of video material produced by City Index has decreased year on year, which has taken a toll on the company's position in this area. However, the broker's YouTube channel has been inactive for months, which made me excited for the Day Ahead series and other in-house broadcasts that I was accustomed to viewing.

Beginning and advanced traders alike can find something to learn from City Index. City Index's YouTube channel features a large collection of instructional films, but it has a smaller collection of written articles than its competitors.

Chapter-based guidelines for both new and experienced traders may be found in the City Index website's Training area. Beginner chapters include topics such as risk management and forex and CFD trading, while intermediate chapters focus on more advanced topics such as options trading methods...

Trading Academy, City Index's reality-based video series, breaks with tradition. The six-week-long series follows a group of rookie traders as they learn how to trade. Also, City Index has produced a series called Celebrity Traders, in which celebrities share their own trading advice. There are a total of 18 videos on City Index's site. The "Become A Trader" webinar series, as well as other archival content, may be found on City Index's YouTube page.

Progress monitoring and quizzes are two features I'd like to see added to City Index's already amazing instructional material. Adding new videos and increasing the amount of articles would also assist boost its position in this area compared to its competitors.

City Index's main online and mobile platform and its offices in Europe and Asia-Pacific allow access to a wide range of global markets, including more than 80 forex pairs and over 4,500 CFDs.

City Index traders have access to MT4, although with fewer trading options. Because AT Pro desktop has been discontinued, algorithmic trading is now restricted to MetaTrader, which is the most widely used platform for automated trading worldwide.

While City Index's price may not be the most competitive in the business, its excellent platform suite, large choice of tradeable markets, and great unique mobile app will draw traders of all levels of expertise.

After being acquired by GAIN Capital Holdings, the company that runs FOREX.com, in 2015, City Index, a UK-based company founded in 1983, has risen to become one of the major multi-asset brokers. Fortune 500 StoneX Group Inc. (NASDAQ: SNEX) is the parent company of City Index. As of August 2021, StoneX traded under the name "City Index," holding $10.9 billion in assets and $198 million in regulatory capital surplus, and serving over 295,000 traders globally. CFDs and spread-betting derivatives have been offered by City Index for more than 30 years.

London-based City Index, a provider of spread betting on forex and CFD trading, is a subsidiary of StoneX Group, which is regulated by the Financial Conduct Authority (FCA). A global platform, City Index includes offices in the UK, Singapore, the UAE and Australia in addition to its London headquarters. StoneX Group Inc., City Index's parent firm, is a NASDAQ-listed corporation with the ticker code "SNEX." GCUK has been incorporated into StoneX Financial Ltd (SFL) as of 28 February 2021. Spread betting, CFDs and interest rate options are some of its specialties.

City Index's excellent operational efficiency is clearly linked to GAIN. Investors and traders of all skill levels may benefit from its extensive network of research facilities, which has grown over time to become a valuable resource for both the highest and lowest echelons of the financial sector. City Index also has an eye-catching product catalogue and a lightning-fast trade interface. Our clients will benefit from an even more complete offering now that GAIN Capital has been integrated into the StoneX Group, thanks to the integration's capabilities and ecosystem of products. To learn more about City Index's features, services, support, fees, and more, check out the articles below.

City Index's roots may be traced back to September 1983. The firm was created by Chris Hales and Jonathan Sparke in March 1984 and began trading and providing spread betting in April of the same year. UK-based CFD division was formed in 2001. After the acquisition of IFX Group in 2005, City Index platform included IFX Markets, a forex broker, and Finspreads.com, a spread betting provider. As a result of this, City Index developed rapidly, with offices in Singapore (Singapore), Shanghai (Shanghai), and Sydney (Australia).

After City Index bought FX Solutions in 2008, the business created City Trading, a white-label foreign exchange and retail service provider, in 2009. It was the first iPhone trading software to provide CFD and spread betting capabilities.

In 2012, City Index launched a new project, the Trading Academy. The Academy offers a six-week online series to demonstrate that anybody from any background can learn how to navigate the financial markets with the correct technological assistance, instruction, and dedication.

City Index was sold to Gain Capital in November 2014 for $118 million by Michael Spencer, who had had a majority stake in the firm since 1997. Since then, City Index has grown at a rapid pace because to GAIN Capital Holdings' reputation and stature in the market. GAIN Capital, which as of Q2 2020, serves more than 250,000 traders worldwide and owns $3.9 billion in client equity, has taken over the trading moniker City Index.

A number of categories were named Best in Class by the City Index in 2021. The company's best features are its quick execution, narrow spreads, and modest margins. Be aware of City Index's overall position in various sections before logging in.

City Index trading systems have one of the quickest execution times in this category. It is possible to trade both long and short at the same time with City Index, one of the most popular forex brokers in the UK.

If you're debating whether or not to use the City Index trading platforms, here are some things to keep in mind.

Only half of the spread is required to roll over all futures trades at expiration continuously and automatically. Mid-price will close your position and reopen in the following bid/offer contract when it does.

Unrealized earnings from open positions may be used to fund fresh trades in retail investor accounts, allowing you to get the most out of your trading capital.

Consider whether or not you're able to bear the hefty cost of failure. Select the hedging button on the order ticket to simultaneously go long and short on the existing position for hedging.

City Index automatically exits deals when your funds fall below 50% of the required margin or if there is a substantial danger of losing money. This is not a stop-loss, but rather a way to avoid negative balances.

You may simply scale up and down your trading by adding to or closing out your deal in increments. If you want a non-FIFO closure, you have the option of closing a deal on a first in, first out basis.

When the price change is in your favour during processing, City Index will execute orders at a better price. As a result, the danger of losing money is reduced and profit margins are increased.

The risk of losing money is greatly reduced by using the City Index.

There is a low probability of losing money with a Trust Score of 93 out of 99 for City Index. It does not run a bank, is listed on the stock exchange, and is approved by government agencies. There are three Tier-1 (high-trust) regulators and one Tier-3 (low-trust) regulator in the United Kingdom. Financial control authorities in Singapore and Australia are the MAS, FCA, and the Australian Securities and Investments Commission (ASIC) (ASIC). As a result, City Index has a respectable place on the list of the top Australian forex brokers.

The Financial Control Authority (FCA) has granted City Index a licence and the company follows the European Securities and Markets Authority's (ESMA) guidelines (ESMA). For retail investors, City Index has obtained the necessary permits to guarantee that they are protected from losing money while trading. It has been shown that 73% of retail investor accounts in the Eurozone are losing money while trading CFDs, according to a survey by ESMA. City Index's ESMA licence indicates that it can be trusted and that the danger of losing money on its trading platforms has been significantly reduced.

In addition to the Trust factor, City Index provides stop-loss insurance for a price. When this option is not included in trading platforms, accounts are at a greater risk of losing money for ordinary investors. Conditional orders, according to one of the forex broker reviews, are a cutting-edge feature of their trading systems. Although two-factor authentication isn't available on City Index's UK-based trading platforms, it is available on the Singapore branch of the site. As a conflict of interest market maker, City Index provides central clearing for free in certain markets that need extra client applications.

The firm offers extensive fees and spread disclosures to increase transparency. However, there are a few small hiccups. Even while the venue informs us of the fixed and variable spreads, there is no side-by-side itemization to make comparisons simpler. Moreover, it's not obvious how much the spreads grow during off-hour trading. When unexpected trade expenses are manipulated, the spectre of manipulation is raised.

When you log in to City Index, you'll be greeted with an entirely new trading platform experience. Custom indicators, complex charts, and completely customised workstations are all part of the package. The desktop version has less functionality than the AT Pro system. Detachable charts and more than 100 indicators are included in AT Pro. But that's all there is to it. For individual investors, City Index and AT Pro feature constantly updated Reuters ticker tapes that keep them informed on the latest business developments..

An advantage that is not often seen at European brokerages is the combination of efficient backtesting and programmed automated trade executions. For investors who don't want to accept the risk, there are various trading ideas available on the site.

On the AT Pro platform, only professional traders may open accounts for regular investors. However, this information is inconsistent with other site disclosures, and an investigation has established that professional status is not necessary to utilise this user-friendly desktop programme.

City Index's mobile apps are available on Android as well as iOS and include intuitive menus and seamless cross-platform syncing. When deciding whether or not to invest in mobile apps, this is an important consideration. Custom alerts, watch lists, initial graphing, and live chat with customer support staff are all available exclusively via the Index. Apps that appear like online platforms help traders to minimise the danger of losing money while they are on the go.

IG, CMC Markets, and Saxo Bank are all strong competitors of City Index's mobile app design, which has a simple user experience. It makes it easy for traders to handle their monetary assets, such as deposits, trades, notifications, and news headlines, as well as analyse procedures for making money using CFDs.

Trading View-powered charts are available on City Index's mobile apps. If you're looking to improve your trading abilities, there are more than 80 indicators and sketching tools to assist you do so. The City Index platform's mobile app may be accessed through the Trading Central mobile app. Multiple sophisticated modules, such as the "Featured Ideas," "Analyst" and "Technical" parts, are available to users of the platform.

Finally, OCOs and other sophisticated orders that carry a significant risk of cash being lost have 24-hour help available. Trades may also be closed and stop-loss orders trailed in a single order to minimise the risk of losing money while trading.

City Index has a wide range of products designed to protect investment accounts from losing money. Financial instruments available include Forex trading through MT4, spread betting CFD trading spread betting CFD trading CFD trading CFD trading CFD trading CFD trading CFD trading CFD trading CFD trading CFD trading City Index platform is the service you should pick as Index provides more than 4,000 shares from different exchanges while CFDs, index, and metal may be exchanged on cash or futures so that it becomes preventable to lose money while trading.

City Index, like other UK brokers, provides tax advantages to residents of the nation who spread bet on a variety of markets rather than place money on CFDs. Offers on forex and futures are also made available to customers.

City Index's fees and commissions are among the most competitive in the industry, according to an analysis of the charges. For EUR/USD, the standard deviation is 0.69 pips, with a bare minimum of 0.50 pips. Different commodities and indices have fixed spreads, but others markets, like Forex, have changeable spreads. It is free to withdraw money from your account. To start a trading account, you'll need to make a deposit. A monthly charge of £12 is assessed to accounts that have been inactive for a period of one year or longer with no activity. The price page lays out all of the fees and charges that will be charged.

Listed below are the most important ones.

As of August 2020, the average spread for trading CFDs on the EUR/USD was 1.1 pips. A Forex company should examine City Index since this quantity stands out from the rest of the field. But the industry average is only a little higher.

This is a good example of how City Index MT4 prices compare with EUR/USD.

There is a refund of up to £7.5 per million for professional merchants in the United Kingdom who have a monthly gross turnover of more than $25 million. Australian traders using City Index login are eligible for rebates that range from A$4.5 to A$13 per million in Tier-1 to Tier-3 account balances.

According to the study, City Index has the best fees and commissions in the business.

There are two types of trading platforms available to City Index customers: the proprietary AT Pro platform and the browser-based Web Trader. However, the City Index MT4 trading platform provides a somewhat restricted range for account holders.

Below, you'll find more information about each trading platform.

Professional traders are the primary target audience for this trading platform because of the huge stakes involved. The Development Studio has roughly 139 charting indicators, 25 drawing tools, and automated trading features. The ability to backtest prospective tactics is one of the most valuable aspects, since it reduces the likelihood of losing money. Over a hundred trading systems are already pre-installed.

Web Trader is a dynamic, user-friendly, and customizable platform. About 90 different indicators and a large variety of sketching tools are all powered by Trading View. As a result of a City Index review, it may be used to search across many markets and get integrated research. During the process of creating a new work account, all of the widgets must be organised manually. OCOs and other complicated order types are supported by the platform, notwithstanding a slight flaw. It is possible to sync watchlists with mobile apps.

The outdated City Index platform that relies on Adobe Flash is still accessible. However, Adobe Flash is no longer supported by most modern browsers, therefore it's best to avoid this platform.

As far as each platform's efficiency is concerned, this is a benefit to City Index.

When traders are unable to get proper assistance from customer care, investor accounts suffer. As a result, City Index offers round-the-clock customer service through toll-free local and international lines in London. An online chat robot typically serves as the phone's first linkup before a human customer service representative can be reached. Issues may be discussed and resolved via the phone, chat, or email with the broker.

Due to a lack of information and skill, retail investor accounts lose money. When it comes to trading, City Index has a strong social media presence in order to immediately disseminate research and marketing information.

Research organisations conduct studies of different trading platforms in order to evaluate Customer Service. This means that the average time to establish a connection is between two and two and a half minutes, and that the professionalism score is 7.6 out of 10, and the net promoter score is 7.6 out of 10. Among the top 22 UK brokers, City Index ranked 10th.

Anyone may benefit from City Index's extensive educational resources, regardless of whether they are a novice or an experienced trader. City Index's education and training section includes a number of subcategories.

Six instructional films and a six-week television series for newcomers are offered. Due to the lack of knowledge and experience of traders, most investor accounts end up losing money. This video, which is also accessible on YouTube, features advice from top traders. As a result, City Index should be your first choice if you're looking to learn how to trade on an online platform.

If you want to learn more about trading Forex and CFDs with City Index, you can do so by reading the 10 articles that make up the training module. As soon as you register for an account and log in, you will be able to learn the necessary skills and determine whether or not this platform is financially feasible for you to begin trading on.

A City Index evaluation will not be rounded up if it does not include this important component. As a result of these six parts, students will be well-versed in this discipline. Inexperienced investors lose a lot of money in the stock market. This course is divided into six sections: Technical and Fundamental Analysis (TA), Trading Strategies (TS), Risk Management (RM), Expert News and Analysis (ENA), and The City Index Advantage (CI). A section on CFDs and why you should trade in CFDs with this provider is also included.

In a separate part, we discuss CFDs, which are a popular method for investors to establish an account and begin trading on different financial markets. You'll understand why you should trade CFDs with this provider after reading this section. This part is critical in preventing retail investor accounts from losing money when using CFDs.

You'll learn why retail investor accounts lose money and what you can do to prevent it after completing this comprehensive training course.

City Index's research site is a sight to see. You will know whether you can afford to trade CFDs and other instruments for the long term and the strategies to avoid losing money in your trades once you thoroughly examine all of the approaches for doing so with this supplier. Through webinars, tag-based news sites, and other essential publications, you'll be kept up to speed every day on market outlooks and projections.

It's not uncomplicated to find out more about the issues you're interested in and how to prevent losing money when you register an account and trade CFDs with this provider, even though the interaction between website video material and YouTube should be improved. There are dozens of options for trading Forex and CFD accounts, all of which are described in great depth on the trading interface. Brokers use current market prices to determine fair value while scanning and filtering information.

Daily research is provided by City Index's team of analysts, which is incorporated into the company's main platform. Reuters also provides a steady supply of essential financial data. Using FxStreet's Economic Calendar and receiving SMS notifications can help you avoid losing your money by providing trading ideas right to your phone.

Tweets by FXStreetNews
Tweets by financemagnates
Tweets by CoinMarketCap

The City Index review describes the platform as an excellent starting point for both novice and experienced investors. City Index should be your first visit if you want to register a trading account and gain the necessary skill sets to prevent losing money. The site offers in-depth market research and analysis, as well as an overview of markets with competitive pricing. When you create a trading account with GAIN, you also have access to the service. As a result, you benefit from both GAIN's reputation and the four decades of Capital Index's knowledge, making this a very powerful combination.

In its offices in Europe and Asia-Pacific, there are a variety of possibilities for traders who establish a trading account to join the worldwide markets. " There are around 4,500 contracts for difference (CFDs), 65 spot forex pairs, and 15 forward contracts dispersed over a number of exchanges.

All traders, regardless of their skill level, may use the City Index platform, which caters to all segments of trading.

Is City Index a broker? It is true that City Index has been in the market-making business since 1983. Tight spreads and a platform of your choosing are two perks of having a trading account. Among them are AT Pro and MT4, which are both automated trading systems that provide in-depth backtesting and comprehensive customisation. As a newbie, you'll find City Index's research tools great for learning about the markets. The company's customer care and assistance are top-notch, and you can reach them by email or phone 24 hours a day, seven days a week. All in all, City Index is a great market maker with low costs compared to typical brokers of comparable size and scope.

Has anybody have any experience using City Index as a trading platform? Yes, City Index is a well-regarded broker. StoneX Group, City Index's parent business, was formerly owned by GAIN Capital. With the addition of GAIN Capital to the StoneX Group, City Index is now able to offer its clients a wider range of services.

At the City Index, how much money may you take out at a time? In a single transaction, you may only withdraw up to £20,000. Any withdrawals beyond this amount must be coordinated with an agent through the City Index customer service channels.

Traders may use City Index's spread betting and FX and CFD trading platform to place bets and make trades (CFDs). With CFDs, traders may speculate on asset values without really owning the assets themselves. In the UK, Australia, Singapore, and the United Arab Emirates, City Index is a Financial Conduct Authority (FCA)-regulated broker with worldwide operations. Traders at City Index have access to more than 12,000 markets, including FX, indices, stock markets, commodities and in a few select nations virtual currency.

Customers may relax knowing that the broker has been in business for 38 years and that its publicly listed parent firm provides significant financial support.

A broad range of trading platforms are available to City Index customers, including comprehensive mobile apps for iOS and Android.

A wide range of asset classes and products are available, as well as 24/5 client service and a wide range of trading platforms.

Over 12,000 items are available via the broker, which covers a wide range of foreign marketplaces. City Index offers a 12-week demo account with 10,000 virtual dollars for both retail and professional traders to try out before making a final decision.

City Index offers commission-free spread betting to traders. For this product, they have the option of taking both short-term and long-term positions using leverage. Risk-free leverage may be used by customers in the United Kingdom and the Middle East. Spread betting is currently exempt from U.K. capital gains tax and U.K. stamp duty.

CFD traders may trade indexes, currencies, commodities, and bonds commission-free, but they must pay costs when trading shares, which vary according on the market.

Because of its fixed and variable rates, City Index, which specialises in spread trading and CFDs, can provide reasonable pricing on these products. Forex spot trading may also be accessed via MT4, but it comes at a price that appears excessive.

For market study, its platforms provide you with the necessary tools, as well as access to third-party research providers. You may try out City Index's goods and customer service for free by signing up for a trial account.

Learn more about online trading brokers for UAE citizens and residents.

Sites like City Index in the UAE

Here is a list of top online brokers to open an account for trading Forex, Bitcoin, CFDs and Stocks in the UAE. These brokers have above-average reviews on sites like Reddit, Quora and Trustpilot; and are totally legit, safe and trustworthy for UAE citizens and residents.

The brokers listed on this webpage accept clients from within the United Arab Emirates. Most of these companies provide an online trading platform for fiat currencies (such as Pound Sterling, the Euro, the US dollar, Japanese Yen etc.), buying and selling of cryptocurrencies (for example Bitcoin, Ethereum, Tether, XRP etc.), stocks (this includes listings on Abu Dhabi Securities Exchange, Borse Dubai, Dubai Mercantile Exchange, Dubai Financial Market and NASDAQ Dubai), CFDs (Apple, Microsoft, Amazon, Google, Tesla etc.), UAE government and corporate bonds, and short-term to long-term fixed income securities.

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Reviewed by Arpita Singh

Arpita SinghArpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.