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Michael Spencer, the City’s richest man owns City Index which was established in 1983 and it one of the oldest spreadbetting companies. Their headquarter is based in Finsbury circus in London. The company offers a free trading simulator for the traders who want to practise with different markets and test CityIndex’s platform. They are offering a big variety of different indices and Forex markets but also commodities, shares and real time spreadbetting platform. Trading tools such as charts, technical analysis tools and market research are also included with every new account in City Index.
Tags: city index, cityindex, cityindexasia, michael spencer
Posted on February 8th, 2009 at 12:42 pm
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2.5City Index, also, own Finspreads which gives a new meaning to the word ‘rip-off’. I closed my account with them after their trading platform went down and nobody picked up the phone on their dealing desk.
Posted on April 30th, 2009 at 7:45 pm
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2.5I’m also having all sort of problem with cityindex platform, can’t login because of connection time out, their system hang and can’t close the position, can’t place a limit…etc
The most annoying thing is their customer representative was not friendly, I was charged the asx data feed every months even i have done more then 10 trades/month. I have to call them to reverse the charge!!
Another thing for everyone is that from time to time they double charge the interest for an overnight open position!! It have been happening for 3 times within 2 months for me. When you called them, they said it was a system error and it is my responsible (the customer) to check the statement. I’m not sure what customer service culture they adopt but i’m not impressed!
Posted on May 3rd, 2009 at 5:21 pm
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3.5Decent platform and spreads, established and experienced, works smoothly on a Mac (I switch between windows and Mac depending on whether I’m mobile or not!
Posted on August 16th, 2011 at 1:25 pm
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3.5Have traded with City for about 2 years. I like the 1 point dow spread especially as it is up until 9.15 unlike certain other providers also the ftse 1 point spread is great too right up till 9 pm.
In a nutshell in my experience platform works ok about 95% of the time. HOWEVER particularly when market is moving very fast it struggles to cope and opening/closing positions can be a problem.
Its not the best platform for sure and has even cost me money now and then but all things considered I still like them.
This month for instance I have probably only had a couple of instances where it has not performed.
Posted on November 21st, 2011 at 9:51 pm
I was shocked to read that cityindex platform and app got an award!! It must be a joke as ive only had problems with this platform that NEVER works. It freezes on several occasions esp. during market opening hours and heavy trades, calendar events, etc..
The worst is their Apple mobile app that hasnt been updated and doesnt allow you to put stops and liits as the DECIMAL POINT is missing!!! Their technical support is nonexistant and has been promising to upgrade this huge issue for weeks!!
Forgot to mention that i use other platforms and a side by side “click-order” ALWAYS get executed with all BUT Cityindex!! Their indicator keeps going back and forth and then messages appear stating that “prices have moved” too quickly and order is cancelled!! or the funniest is a “dealer’s request” for a quote on Dax during trading hours.
SLOW PLATFORM! BE WARNED: YOU WILL LOSE MONEY AS YOU CANT OPEN NOR CLOSE WHEN YOU CLICK.
Posted on December 21st, 2011 at 2:38 pm
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2I have been with city index for about 12months and have been very disappointed with them,have given me wrong margin calculations which have cost me thousands of pounds,have questioned them on more than one occasion on being stopped out of trades,there spreads are not competitive