City Index, founded in 1983 in London, enables active trading and spread betting for its clients. The broker is licensed by the UK Financial Services Authority (license number 113942). City Index has established a strong reputation in the financial industry.
Traders Union published the City Index review, intending to give traders an overview of the platform’s operations, strengths, weaknesses, and overall standing in the industry.
City Index: pros and cons
Traders Union offers an in-depth evaluation of the pros and cons associated with using the City Index.
Pros:
- A broad selection of trading tools is available.
- Users can utilize both floating and fixed spreads.
- Trading is facilitated through MetaTrader 4, a web terminal, and mobile applications.
Cons:
- The trading platform experiences occasional downtime.
- Limited options for depositing and withdrawing funds.
- A user’s application for a trading account may be denied if they lack sufficient trading experience or starting capital.
Expert review of City Index
TU experts have critically analyzed the City Index broker and provided key insights:
- City Index has established itself as a reliable partner, consistently fulfilling its obligations.
- The company offers two types of accounts: real accounts and demo accounts. Demo accounts allow traders to test their skills without risking capital.
- Comprehensive information about each trading asset is available on the site.
- City Index primarily aims to collaborate with experienced traders due to the complexities and high risk associated with CFD trading. There are no specific investor-oriented programs.
- The company received complaints during its cooperation with Traders Union, mostly about its support service, which only operates in English – a barrier for CIS traders.
Analysis of the main features of this crypto exchange
TU analysts have meticulously conducted a comprehensive assessment of City Index, assigning numerical values to different aspects of the platform. Below is an explanation of those ratings:
- Overall score: 2.71
- Execution of orders: 2.5 out of 10
- Investment instruments: 2.92 out of 10
- Withdrawal speed: 2.56 out of 10
- Customer Support work: 2.86 out of 10
- Variety of instruments: 2.34 out of 10
- Trading platform: 3.08 out of 10
Trading conditions for City Index users
TU analysis reveals key aspects of City Index services:
- The broker primarily serves experienced traders on a global scale.
- The company offers one type of real account, with a minimum deposit amount of 100 EUR / USD / GBP.
- The size of the leverage, spread, and other trading conditions are dependent on the trading asset used by the trader.
Broker comparisons with City Index
Traders Union has compiled a list of alternate cryptocurrency platforms that might serve as viable replacements for City Index.
- RoboForex: Unlike City Index which targets experienced traders, RoboForex is suitable for both beginners and experienced traders, offering a variety of account types and investment options.
- Pocket Option: Unlike City Index, Pocket Option specializes in binary options trading, providing an easy-to-use platform suitable for traders of all experience levels.
- Tickmill: Similar to City Index in catering to experienced traders, Tickmill differs by offering very competitive spreads and faster withdrawal speeds, enhancing its user experience.
- Exness: Exness, like City Index, serves experienced traders. However, it stands out with its wider range of account types and a more diverse choice of trading instruments.
- AMarkets: AMarkets, while catering to experienced traders like City Index, differentiates itself by offering a wider selection of educational resources and more comprehensive customer support.
In the realm of alternative trading platforms, one might also consider Earn2Trade. Queries often arise, such as “Is Earn2Trade legit?” It is indeed a reputable platform that offers comprehensive trading education and funding opportunities for successful traders, making it another feasible choice for those considering a move from City Index.
Conclusion
City Index has proven itself as a reliable and regulated broker, offering active trading and spread betting services. While there are alternative platforms available, it’s essential to explore options that align with individual trading preferences. For more information and comparisons, visit the Traders Union website.
