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.

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City Index Review Good Points

  • Established Broker
  • Wide range of markets available
  • Expert analysis and research

City Index Review Bad Points

  • Basic trading platform
  • No physical stock buying (only CFDs/spreadbets)

City Index Key Features

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk"

City Index
City Index are one of the largest spread betting and CFD brokers in the UK. Although, they are now owned by the Americans. Michael Spencer, the City supremo who also founded ICAP and was once the treasurer to the Tory party owned City Index (or "City" to those in the know) from 1997 until 2014 when it was sold to Gain Capital for $118m.

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City Index ReviewsCity Index Client Reviews
City Index Expert Review
City Index InterviewNo - see other broker CEO interviews
City Index updatesLatest City Index News, Views, Reviews & Guides
PlatformsCity Index Advantage Web, AT Pro, MT4
Min Deposit£100
Account TypesSpread betting, CFDs, Forex
Spread TypesFixed and variable
Funding MethodsDebit and credit card, Bank transfer
Customer SupportPhone, email and livechat
Execution TypeOTC
UK 100 Pricing1 point
Germany 30 Pricing1 point
Wall Street Pricing2.8 point
Bitcoin Pricing40
Ether Pricing8
EURGBP Pricing1.2 points
EURUSD Pricing0.6 points
GBPUSD Pricing1.4 points
Gold Pricing0.3 points
Oil Pricing4 points
Stock Pricing0.1%
FCA RegulatedYes as Gain Capital - See status
Year Established1983
Active Clients20,000
Markets available12,000
Retail AccountsYes
Professional AccountsYes
Listed PLCYes as Gain Capital See share price
Country FoundedUK
Inactivity Fee£12 after 12 months
Overnight Funding Rates2.5% +/- Libor
Educational MaterialYes
Office Locations1
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City Index Customer Reviews

It's all very well reading our expert opinion, but one of the best ways to learn more about a broker is to hear what their client think about them. 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.

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City Index
Average rating:  
 3 reviews
by Low heng huat on City Index
lousy system
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

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)

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)


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City Index Login & Account Opening

As with most brokers you can open a trading account with City Index online. When you apply to open an account with City Index your identity will be checked online and normally goes straight through for UK residents. However, if you move a lot or live abroad you may have to provide proof of identity documentation. This is an anti money laundering requirement by the regulators. Logging into City Index is fairly standard, through the website, app or mobile, no hoops to jump through and you can remain logged in to City Index for quick access to the trading platform.

City Index contact details

The best way to contact City Index is to give them a call, as they have experienced front and back offices staff that can assist with any problem or query. City Index contact details are below:

  • Email: support@cityindex.co.uk
  • Phone 0845 355 0801
  • Address: Park House, 16 Finsbury Circus, London EC2M 7EB

Can you trade Bitcoin with City Index?

Yes, you can trade Bitcoin with City Index. City Index bitcoin trading has the a bility to trade Bitcoin via CFDs or spread betting (for tax free profits). You can go long or short Bitcoin (profit when it goes down). City Index have competitive margin rates for Bitcoin trading and over night financing is getting lower as Bitcoin exposure becomes easier to hedge for brokers.  City Index Bitcoin pricing is sourced from multiple exchanges so spreads are better than brokers with a single pricing feed. Go long or short on Bitcoin Fixed spreads, low margin and competitive financing Multi-exchange reliable pricing

How varied is the City Index cryptocurrency offering?

Not very to be honest, you can only trade Bitcoin with City Index. Mainly due to the risks of brokers hedging Bitcoin. This is not necessarily a bad thing as the most established brokers like City Index tend to deal with larger clients so need to hedge their exposure to the underlying assets that their clients are trading. For clients, it means that City Index does not have excessive exposure to un hedged cryptocurrency positions. However, if you want a brokers that offers lots of cryptocurrencies you can compare cryptocurrency brokers here.

How to City Index deal with complaints?

City Index complaints are best dealt with over the phone in the first instance. Brokerage and trading is a relationship business. So if you have a City Index complaint, give them a call and talk to one of their experienced support staff. Especially if it;s a trading related issue. The sooner you talk to someone the better complaints are solved. City Index will have an official complaints procedure in place for clients to raise legitimate City Index complaints.

Most common City Index problems and how to deal with them.

You should have less problems with City Index than smaller brokers, because by the very nature of scale, the bigger the broker the more reliable the trading platform and infrastructure should be. However, the most common problems with trading with brokers like City Index (and other major brokers) are usually from the client side. For example if you have a problem with the City Index trading platform you may just need a refresh or re-instal. The software and platform are regularly updated and extremely secure. Another problem you may have with City Index, could be basic mis understandings. If you are new to trading, or switching from another broker, you will come across problems or may mis-understand the way things are done.  If you don't understand something, to avoid problems don't trade. Instead, pick up the phone and talk to them and ask for help.

Is City Index reliable as a broker?

Yes, firstly, they have been in business a long time and brokers that are not reliable do not stay in business. How reliable City Index is depends on what you are trading and if they cover all the assets you want. However, City Index do offer one of the largest market ranges and are owned by Gain Capital which is listed on the New York Stock Exchange. So, as City Index have the capital, balance sheet, and experience, you should find City Index to be a reliable broker.

What is the City Index minimum deposit?

£100 is the City Index minimum deposit. As City Index offer CFD and spread bet trading, there are no additional commissions (other than overnight financing). So if you want to open a City Index account and put as little as £100 to test the platform in a live environment you can do so with this minimum deposit and not have it whittled away by minimum trade commission fees.

How small is the City Index minimum bet, stake and trade size?

The City Index minimum bet size depends on what you are trading. You can take a look at their trading information here to get the specifics here. You will also be able to see the City Index minimum stake size for individual indices, FX pairs, commodities and shares when you bring up a trade ticket.

Withdrawing funds from City Index.

One of the most common complaints about brokers is how difficult it is to withdraw funds. This is usualy down to AML (anti money laundering) rules, which mean clients have to prove their ID and address before withdrawing funds. However, as they are used to dealing with large and experienced traders withdrawing funds from City Index is simple. You can withdraw up to £20,000 on the platform. For larger withdrawals you'll need to get in touch with City Index client services. Withdrawals are free of charge, unless you require a CHAPS payment, however with the fast banking network, large City Index withdrawals are usually processed and received same day.


Testing City Index with a demo account

If you want a City Index demo account you can test the platform before you apply for a live account. You get full access to the City Index trading platform for twelve weeks. Giving you plenty of time to review City Index before depositing funds. The City Index demo account comes with £10,000 in virtual cash so you can put on paper trades on thousands of markets (City Index has one of the most comprehensive coverages) on shares, indices, cryptocurrency, commodities and forex. You also get full access to all the features of the live platform with the City Index demo account. (some brokers restrict features from the demo account).

What's the City Index app like?

Pretty good, and is obviously available on iOS and Android. The City Index app has most of the standard features you can trade 24 hours a day, get access to all your positions. There is live streaming prices and charts so you are never out of touch with the market. The City Index app also have an economic calendar for upcoming economic announcements.

Key Features

  • In house platform
  • Wide market range
  • Excellent dealers

Welcome Bonus

  • None

Rebate Scheme

  • None

Range of Markets

Over 13,000 global markets – one of the largest offerings around

Spread Width

  • GBPUSD 1.5
  • EURUSD 1
  • FTSE 1
  • Dow 1

Plus Points

  • Big broker
  • Experienced staff
  • Wide product range

Negative Points

  • No rebates of welcome bonuses

Trading Platforms

A good all round platform with some added value and trading tools


There are not many reasons not to open an account with City Index.  They tick all the boxes that a trader should look for.  The only thing letting them down is that they do not offer bonuses or rebates.

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