City Index Review ⭐⭐⭐⭐

What does City Index do?

City Index is a financial spread betting and CFD broker owned by Gain Capital, a subsidiary of StoneX. City Index provides an online forex trading platform where you can trade over 12,000 instruments including 12 indices, 4,500 shares, cryptocurrencies, 84 forex pairs and 25 commodities. City Index clients can trade online via a web trader platform or through MT4.

How much does City Index cost?

City Index charges a spread equivalent to a commission of 0.08% on UK and European shares, 1.8 cents per share for US stocks and 0.2% for Asian stocks. UK index trading spreads are from 1 point, Wall Street spreads from 2 points and major forex pairs like EURUSD are 0.5 points to 0.9 points for EURGBP. There’s a minimum deposit for City Index accounts of $100.

Are City Index a good broker?

Our experts rate City Index as a four-star broker because they offer an easy to use online trading platform, are owned by a publicly listed company and have full FCA regulation and FSCS deposit protection. City Index is one of the original spread betting providers and has a relatively wide market coverage offering. Our 2020 review explains in detail what makes City Index stand out and you can try City Index with a free demo account via the app or desktop pc.

Read more about our review methodology

City Index Review Scores: Expert Ratings

Account Types 6/1061%
Market Coverage 6/1055%
Trading Platforms 8/1076%
Spread Costs & Margin Rates 9/1087%
Ease of Use 8/1075%
History & Reliability 9/1093%
Safety & Regulation 10/1096%
Customer Support & Satisfaction 6/1061%
Account Opening & Funding 8/10077%
Research & Tools 7/1067%
Overall Score

Visit City Index

76.5% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

🏠 > City Index Review

What do clients think of City Index?

City Index 2020 Review Client Satisfaction Levels

65% of clients would RECOMMEND City Index to a friend65%
72% of clients are satisfied with City Index's FEES & COSTS72%
71% of clients are satisfied with City Index's MARKET COVERAGE71%
67% of clients are satisfied with City Index's TRADING PLATFORM67%
66% of clients are satisfied with City Index's MARGIN RATES66%
76% of clients find City Index EASY TO USE76%
71% of clients are satisfied with City Index's RELIABILITY71%
78% of clients trust City Index to safeguard their FUNDS78%
66% of clients are satisfied with City Index's CUSTOMER SUPPORT66%
63% of clients are satisfied with City Index's EDUCATIONAL MATERIAL63%
69% of clients are satisfied with City Index's TRADING TOOLS?69%

City Index Customer Reviews

Read real City Index customer reviews below, or add your own for a chance to win £1,000 Amazon vouchers in our broker of the year award.

Submit your review

Create your own review

City Index
Average rating:  
 5 reviews
Dec 16, 2020
by mark mckaig on City Index
Online Platform (out of 5 stars): 3
Customer Service (out of 5 stars): 1
Fees & Pricing (out of 5 stars): 3

I've been with City Index for years, but since they got bought by Gain Capital, things have gone down-hill. If you try to withdraw money to your bank account - good luck ! I'm currently having to take court action to get them to pay me my own money into my bank account, and purely by luck, I happened to check trust pilot and found numerous reviews from customers having the same issues. The best way to describe them is that rarely will you get filled at quoted pricing, and in terms of customer service - arrogance and contempt for customers about covers it. If you try to withdraw money, they will be as unhelpful and obstructive as they possibly can, and looking at trust pilot there are a good few people who have lost their money this way.

Dec 16, 2020
by Ian French Huddersfield on City Index
Online Platform (out of 5 stars): 4
Customer Service (out of 5 stars): 2
Fees & Pricing (out of 5 stars): 2

As a novice, I signed up to this with the intention of buying shares in a particular company, and specifically mentioned this, as well as my zero level of experience when calling their customer support helpline and being put through to a broker agent. Even after joking with the broker about my clueless nature of the share buying market, and needing all the help I could get, I was quickly led to CFD trading, and I as a novice bought into this thinking I was buying shares. No explanation was given as to the difference between CFD and shares, and only a month later after further research from other sources, did it become apparant that I had in fact signed up to a betting site, placing bets on the margin movement on share prices with a line of credit.

I'm rather annoyed by this. I feel like my inexperience was taken advantage of just so a broker could get some quick commission from me, as people who trade CFD will be buying trades and stopping trades more frequently due to the market's short term nature, and as a result they get hit with more charges.

The only way out of this is to ensure my CFD get's back into the black. Close out my open trades and reinvest that money on a different share buying platform, specifically for the purchase of shares, and not CFD trading. I'm just fortunate I entered City Index with the bare minimum amount of money possible under the philosophy of 'spend only what you can afford to lose', so any losses I accrue on a negative close out, won't sting too much.

I do actually see how you can make money using CFD, but City Index really should push this on more experienced traders, and as a matter of ethics should not push this on novices.
My advice; If you want to invest and you are a rookie, and you decide to use this company, steer clear of CFD and make that statement clear to the broker that you don't want CFD when you call the ''helpline''.

To quote that common question ''Have you been missold PPI?''.
Well thanks to City Index, I was missold CFD.

I give this rating 2 stars, only because the graphical data in front is easy to understand and it helps when monitoring share price movements, and the movement of money is quick. But really, that is the only good things about them.

Apr 29, 2019
by Low heng huat on City Index
Online Platform (out of 5 stars): 0
Customer Service (out of 5 stars): 0
Fees & Pricing (out of 5 stars): 0

lousy system that put customer on losing side

Feb 5, 2018
by Hymie Zar on City Index

Trading Platform 5/5
Customer Service 5/5
Mobile Apps 5/5
Spreads & Pricing 5/5
Market Range 5/5
Trade Execution Speed 5/5
Added Value 5/5

Trading platform slick and performs fast and accurate.Never had cause to complain.Great service.One touch trading excellent. (Trading forex and indices with City Index Spreads for over 5 years on a daily basis)

Jan 20, 2018
by COLINAUTHERS on City Index

Trading Platform 5/5
Customer Service 5/5
Mobile Apps 5/5
Spreads & Pricing 5/5
Market Range 5/5
Trade Execution Speed 5/5
Added Value 5/5

All good 4 me.
(Trading stocks with City Index for over 5 years on a weekly basis)


Client Satisfaction

Visit City Index

76.5% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

City Index Review: Are City Index any good? Bottom line, yes. The staff are experienced, the platform decent and they have some quite interesting added value extras. City Index was founded in 1983 but is now owned by publically listed (NYSE) Gain Capital after it was sold to them by City supremo Michael Spencer in 1997. City Index is one of the original spread betting and CFD brokers in the UK and offers a very comprehensive range of markets with competitive pricing. 72% of retail investor accounts lose money when trading CFDs with this provider.

Visit City Index

Expert City Index Review

About City Index

City Index is one of the best-known margin trading brands, once owned by city grandee Michael Spencer the company was acquired by GAIN Capital of the US in the autumn of 2014, where its sits alongside GAIN’s other brands and Daniels Trading.

What makes City Index different?

City Index has thirty-five years of margin trading experience across Spread Bets, CFDs and Forex. It has its own trading platforms and technology ,and offers a large range of markets and instruments to trade on.

Pros and cons of City Index

City Index Benefits

City Index Bad Points

35 year historyNo traders community
12000 + marketsDeposits in the accounts base currency only
A choice of trading platformsReduced leverage on larger equity positions

What is the City Index share price?

City Index parent Gain Capital Holdings Inc has shares that are listed and traded in New York, under the Ticker GCAP. Which are priced at US$ 6.37 at the time of writing, giving the group a market cap of US$ 240.10 million.

Costs & charges

How does City Index charge fees and what are they?

City index makes two-way prices in most of its markets and charges a bid-offer spread on them

Trading Fees

Apart from the bid-offer spread City Index only charges commissions on equity CFDs, these charges vary by geographic region. However, CFDs on individual UK stocks are subject to a commission of 0.08% of the notional value, with a £10.00 minimum ticket charge. There are additional fees for guaranteed stop-losses and once again these vary by instrument.

Non - Trading Fees

There are funding charges for positions held open overnight, for example, UK positions currently attract funding charges of Libor +/- 2.50% and the firm charges a spread on currency conversions which can be up to +/- 0.50% above their in-house spot FX prices. There are no charges for deposits or withdrawals made by credit/ debit cards or bank transfer.

How does City Index make money?

City Index makes money on client activity by capturing the bid-offer spread andany  commission charged on trades, undertaken by the firm’s clients. City Index also runs a risk book under an artificially intelligent hedging model, that aims to stabilise trading revenues. Parent company GAIN Capital had net revenues of US$ 66.70 million, in Q3 2019.

Opening an account at City Index

How to open an City Index Index account

To open an account at City Index you will need to complete an online application form and choose whether you wish to open a CFD or Spread Betting account, or both, with the firm.

If City Index can verify your identity and address online, you won’t need to send any supporting documents, but these can be emailed or submitted electronically if you do.

How long does it take to open an City Index account?

If your application can be electronically verified, then your account could be approved almost immediately. If not then you may have to send in supporting documentation which will extend the timescale.

Is there a minimum deposit for City Index?

There is no minimum deposit at City Index though the firm does recommend a deposit of £100 or more.

How to get started trading or investing with City Index

You will need to apply for an account and account online, once it’s been verified and opened fund your account and choose your trading platform, download it (if required) or login to Web Trader and you are ready to go.

City Index Funding Methods

How to add money to your City Index account

Credit cards

City Index accepts credits cards from Visa and Mastercard

Debit and Bank cards

You can use debits cards from the following provider's Visa, MasterCard, Maestro and Electron

Note that City Index cannot accept payments from any Citibank cards.


City Index accept payment from PayPal and does not make a charge on deposits from the payment provider.

Bank Transfer

City Index also accepts deposits via bank transfer once again these are free of charge.

Note that deposits can only be accepted in the base currency of your City Index trading account.

How to withdraw your money from City Index

Withdrawals can be requested using the accounts section in the online trading platform. Funds can only be returned to their original source. And any card and account details will need to be registered with City Index.

There is a £20,000 per day withdrawal limit online however larger transactions may be arranged via the client management team. City Index does not charge for withdrawals.

City Index Trading Platforms & Mobile Apps

City Index offers a variety of trading platforms to suit customer needs

What trading platforms does City Index offer?

The main City index platform is a web-based system known as Web Trader. It has a customisable interface and offers charting tools and real-time margin calculations, and what City Index calls a 360-degree market view with integrated news, charting, calendars and watchlists.

City also offers MT4 trading software, alongside AT Pro, a platform with advanced charting and analysis features, that are aimed at more advanced or sophisticated traders.

Access City Index mobile apps

City Index has mobile trading apps for both iOS and Android devices each of which can be found in the respective App stores. Using these apps you monitor prices and account balances, draw charts, as well as placing and managing orders and do this from anywhere with a stable, high speed internet connection.

Test City Index with a free demo account

City index offers 12 weeks of fully-featured demo account access, simply complete their short application form to get started.

Market Coverage

Market access with City Index

City Index offers trading in more than 12,000 markets and instruments including equity indices FX, shares commodities and cryptocurrencies the firm offers both Spread Betting and CFD accounts.

What is the maximum leverage City Index offers?

City index offers retail clients leverage of up to 30:1 in line with ESMA and FCA guidelines.

City Index may increase margin and reduce leverage on larger positions in certain instruments.

Professional clients can access leverage of up to 400:1. However, customers must meet strict criteria to qualify for this classification.

City Index offers 24-hour trading on FX and leading equity indices from Sunday evening through the US close of the following Friday. Individual UK and US shares trade as per their respective exchange hours. You can check the trading hours for all instruments using the Market 360 section of the Web Trader platform in either demo or live accounts.

Trading Services

With a choice of Spread Betting or CFD trading and more than 12,000 markets to choose from, there are plenty of trading options with City Index.

Can you scalp with City Index?

Scalping is possible at City Index, though as fees are wrapped up within the firm’s bid-offer prices user may find the spreads wider than those available elsewhere.

Can you make money trading with City Index?

With more than 12,000 instruments to choose from around the globe, you should be able to find plenty of trading opportunities. Whether they are profitable or not will of course depend on the actions of the end client. According to regulatory disclosures at the time of writing 74% of retail clients lose money trading CFDs with City Index.

City Index Added Value


City Index offers research, trade signals, analysis and market commentary

What research does City Index provide traders

City Index offers clients market analysis from  Trading Central including technical analysis and sentiment indicators alongside their in-house analysis and commentary. These can be accessed through the market 360 section of Web Trader or via the market news and analysis section of their website

Trading Education

City Index offers online trading education via its learn to trade portal which contains articles and information about financial markets, trading basics, technical and fundamental analysis, risk management and trading strategies. There are also a series of educational videos on subjects such as spotting trading opportunities, exiting a trade and an introduction to charts and more.

Customer Service

How do I contact City Index?

You can contact City Index customer support through their website using the online chat facility which is available 24 hours per day Monday through Friday.

City Index phone numbers

To contact City Index customer support by phone use 0845 355 0801 if calling from within the UK, or if you abroad then dial +44 203 194 1801

Useful City Index email addresses

You can contact customer support via email on [email protected]

Important City Index social media handles

@CityIndex Twitter handle City Index on LinkedIn City Index on YouTube

City Index’s community & dedicated customer service

City Index does not host a trader’s community, but it does have 24-hour customer support from Monday to Friday, and its website is full of useful information about, and links to its products and services.

Still not convinced? Check out all of our trading & investing broker reviews