Bad Points

  1. No trading in Small Cap Stocks (UK stocks must have a market capitalization of £50 million or more).
  2. Spreads are very competitive for trading main Index markets and FTSE 100 shares but they are not the best for FTSE 350 stocks. City Index does not provide details of it's spreads online which scores a negative with me as I expect this information to be readily available (you need to have an account at City Index to check spreads / bet sizes or margins - other providers do not shy away from publishing this information).
  3. Reports of occasional downtimes - 'telephone trades only right now'. Connection time-outs still appear to be a problem.
  4. Offer no limited risk accounts so customers can end up owing them money. CityIndex says this does not increase trading risks as they have a margin close-out feature which automatically limits (closes out) trades when losses hit a certain level in relation to a trader's margin but still...
  5. City Index have a 1 point rolling cash FTSE spread, offer OCO and If Done orders, and endeavour to always be 1 point either side of the underlying cash price from 0800 onwards (according to their salesman). They also deal in .10 point increments. However, if you want to close the trade at 1630, you have to call them or close it online. Otherwise it is rolled over. This is the only aspect they seem to be lacking in, in terms of functionality. If you have a job, you don't want the hassle of having to phone them every day telling them not to roll a bet over.
  6. Customer Support is not the best - it is useless to have live chat support if there is no person on the other end to take your call.

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