City Index

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Overall Rating2.32.32.32.32.3
Spreads2.72.72.72.72.7
Execution2.22.22.22.22.2
Support22222
2.3

City Index was founded in 1983 and, until Oct 2014, was owned by Icap chief executive Michael Spencer, who sold it to US retail broking giant Gain Capital for $118 million. Their headquarters are 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.

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12 Responses to this entry

  • Kevin Reeves Says:
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    City Index used to be a good company. It was taken over a couple of years back and has merged with another spread betting company within a group. The names of the other companies and entities involved are irrelevant. All I can say is, since this happened, any semblance of respect or regard for its customers has gone out of the window. This company is appallingly badly run. It stems from the top management down and frankly, they do not deserve to be in business. Avoid them at all costs. If, for some reason, you think they are your only option for a spread betting, then don’t spread bet! But there are surely better operators out there.

  • Dave Says:
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    I was hoping that City Index were different to the other rip off systems around.
    Having had my account for a year and being some £16,000 down I always maintained at least 110% margin (80% being the limit).
    Today a stock returned from suspension (QPP). City Index Closed out ALL my positions at 3 minutes past 8 at 74p for QPP.
    No calls, no emails, nothing. By 5 past 8 QPP was trading at 89p.
    I appreciate the onus is on me to ensure the account is funded, but the swift nature in which they acted is deplorable when I had never not once breached 110% margin and happily “lost” over the year £16k.
    Personally I wouldn’t touch them. The operators are always harsh, brash and bordering on rude. They are there for one thing and one thing only, to maximise the cash amount they can take from you.

  • Aage Says:
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    I only trade indicies.

    However the charts are not good. When I use 10 minutes time frame, part of the chart is missing.

    But it is so fare the best CFD broker. ( I have been using FXpro and CMC markets, and AVA forex )

  • alf Says:
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    I have been with city index for 5 years (it wasn’t always veriable spreads)

    Good points (spread betting platform)
    1) The platform is very good to look because you can see all the prices and the increase/decrease % in the day.
    2) The graph looks good and indicator are easy to save and setup.

    Bad points
    1) execution trades at important data time is slow and most of the time does not go through get error 1
    2) ringing up support are useless just keep putting you on hold and cant identify the problem. (1)
    3) spreads at important data times are stupidly high 9.6 pips on GBP/USD (max i’ve seen no exaguration)
    4) cannot update stop losses / profit take over £10 a pip
    5) not very open on sources of data does not direct you properly e.g Dow Jones Newswires September 06 (no hyper link or quicker ways of finding it).

    Neutral point
    stoploss/proft take accuracy is about +0-7pips form original (not for Garanteed stop loss)

  • peter Says:
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    I 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

  • Brenda Says:
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    It’s a legal con-job to rip off their clients. Price cannot be triggered when the Europe & US market opens. It’s either rejected or your entry is triggered at another price. Despite many complains to the company based in London, nothing’s been done.

  • Brenda Says:

    It’s a legal con-job to rip off their clients. Price cannot be triggered when the Europe & US market opens. It’s either rejected or your entry is triggered at another price. Despite many complains to the company headquarter in London, nothing’s been done. Use this platform by all means if you want to lose money quick.

  • mick smith Says:

    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.

  • tim Says:
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    Have 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.

  • Gerrin Matthews Says:
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    Decent 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!

  • Cadney Says:
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    I’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!

  • jimmy Says:
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    City 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.

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