City Index, one of the world’s leading CFD brokers has reduced its spreads across a wide range of major foreign exchange pairs.
City Index, the top CFD broker, has changed the spreads on some of the most popularly traded pairs, promising to offer traders better value than ever before.
AUD/USD, EUR/USD and USD/JPY will now be priced from just 0.5 pts and GBP/USD will be priced from 0.8 pts. The move signals a shift from fixed to variable spreads.
Samantha Roady, President of Retail at GAIN Capital, the parent company of the top forex broker, said:
“Our decision to tighten our spreads on major FX pairs highlights our continuing commitment to delivering the best possible value to our traders.
“Moving our FX spreads to variable allows us to better reflect available market liquidity, while lowering the overall cost of trading for our clients. Our new FX spreads are amongst the best in the market and reflect the substantial FX liquidity of our parent company, GAIN Capital, one of the world’s largest retail brokers.”
The average variable spread on EUR/USD is now just 0.68 compared to a previous fixed spread of 1.2. The average variable spreads on GBP/USD and EUR/GBP are now 1.29 and 1.15 respectively, compared to previous fixed spreads of 1.8 and 1.6.
The top CFD broker is operated by GAIN Capital, a global leader in online trading services based in Bedminster, New Jersey. Founded in 1999, the company today supports customers in over 180 countries via several major brands, including FOREX.com, City Index and GTX.
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Richard founded the Good Money Guide (previously Good Broker Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.