City Index Review
City Index is one of the biggest private derivative trading companies in the world with thousands of clients, over 400 staff and offices in many countries across the world. Every month its clients trade over two million times which is a testament to the quality of the service it provides. Although spread betting is its most popular (especially within the UK) product, City also offers Contract For Difference trading as well as access to a wide variety of forex pairings.
Not only is City Index one of the largest trading brokers in the world – it is also one of the most established. The company has been around since 1983 when it was opened in London, UK – shortly after the original spread betting company, IG Index. CFD trading was introduced in 2001 and City later acquired the company Finspreads in 2005 and IFX Markets in 2006.
City Index allows users to spread bet and deal in CFDs on the same platform. Users can keep track of their open positions and browse popular markets in the same screen. It’s easy to access all the different types of markets from a simple drop down box. Clicking on the “Trade” icon automatically populates the order ticket into which users can then input their bet quantity as well as the “stop” and “limit” preferences.
Like a few others, City Index has an online trading platform, meaning there are virtually no system requirements and it can be accessed anywhere in the world on any computer with an Internet connection. It contains real time streaming news as well as charting options and a wide variety of risk management techniques that allow you to place your bet in different ways.
City Index also promises that its prices accurately track the underlying market – meaning that re quotes are kept to a minimum. In addition, their execution policy says that trades are executed at the screen price, up to the limit of what they call “Our Size”, ensuring the settled trade price doesn’t deviate from the live price.
City Index is available online and on the move with its ‘City Trading’ mobile app. This mobile trading application had won countless awards and is widely considered to be the first viable mobile trading solution to have been introduced to the market.
City Index allows spread betting on Equities in the US, UK, European and Asian markets. You can also bet on the major stock indices as well. They have a unique market called “Sectors” which allow you to bet on an entire range of stocks in particular sectors based on the UK markets. They also offer spread betting on currencies, Metals, Bonds and Interest rates.
City Index offers 24 hour online trading as well as streaming news through its trading platform. They also have guaranteed quoted prices below a certain trading level. Their prices track the underlying markets and this means fewer re quotes. This holds for both CFDs as well as spread bets.
There isn’t much you can say against City Index as the company, as a whole is very professional. It offers some really tight spreads on the four main indices and some of the key forex pairings. The trading platform is high quality and is available on the move so you can stay connected and trade wherever you are.
City Index seems to be an attractive option for those betting on the FTSE 100. However, their customer service is spotty and this might be a big factor in making your choice.
We hope our City Index review was helpful and if you would like to comment on the company, please do so below.