69% of retail investor accounts lose money
- Experts rate StoneX Trading highly as a forex broker, highlighting its robust trading platform that includes essential tools for active traders, such as advanced charting and dedicated customer support available 24/5. The broker offers competitive pricing with no hidden fees, although it lacks on-exchange forex futures, which may be a consideration for some traders.
- Across 125 user reviews on Good Money Guide, averaging 3.8/5, customers frequently commend the platform's reliability, user-friendly interface, and excellent customer service. Many users appreciate the fast execution of trades and the comprehensive range of markets available. However, some criticisms arise regarding the reliability of systems during critical trading times and concerns over overnight charges.
StoneX Trading Forex Trading Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.Our experts have rated StoneX Trading Forex Trading across five key areas of our review framework.
- Pricing4.5
- Market Access4.0
- App & Platform5.0
- Customer Service5.0
- Research & Analysis5.0
Pros
- Forex trading signals
- Post-forex trade success analytics
- Forex trading news, research and analysis
Cons
- No on-exchange forex futures
- Forex options only as a CFD or spread bet
See full expert review
Our verdict
StoneX Trading offers forex trading on more than 80 currency pairs, including majors such as EUR/USD, GBP/USD and USD/JPY as well as minor and more exotic FX crosses. UK traders can trade currencies through spread bets or CFDs, with a choice of StoneX Trading’s own web and mobile platforms, TradingView and MetaTrader 4.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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.Is StoneX Trading a good forex broker?
StoneX Trading is a very good forex broker for traders who want more than just somewhere to buy and sell currency pairs.
City Index has always been particularly strong in forex, and now that it has become StoneX Trading you get the added benefit of being part of a much larger global financial services group. But importantly, the trading platform still has the tools that actually matter to active FX traders, such as decent charting, one-click dealing, Performance Analytics, Reuters news and a proper economic calendar.
You can trade more than 80 FX pairs, which is plenty for most traders, and there is a good choice of platforms. Personally, I think the main StoneX Trading platform is the best option for most people, but TradingView is excellent if you are chart-heavy and MT4 is still there for more systematic forex traders.
StoneX Trading is also one of the better choices if you want some actual service from your forex broker. You can get dedicated support 24/5 by phone, email or live chat, rather than being completely reliant on an online help centre.
Overall, StoneX Trading is best for active forex traders who want competitive pricing combined with good charting, research and trading tools rather than simply the cheapest possible execution-only FX account.
Pricing
StoneX Trading’s forex pricing is spread-based, so there is no separate commission added to normal FX trades.
StoneX says it provides deep liquidity with clear spreads and no hidden mark-ups or fees.
As with any forex broker, though, you shouldn't choose it based purely on the headline minimum spread. What matters is what spreads are actually like when you trade, particularly around important economic announcements when FX markets can move very quickly.
If you hold leveraged forex positions overnight there can also be financing charges, so these need to be taken into account if you are using forex CFDs for longer-term positions rather than day trading.
For UK traders, there is also the option of forex spread betting rather than CFDs. The underlying trading exposure is broadly similar, but spread betting profits are generally free from UK Capital Gains Tax under current tax rules, depending on your individual circumstances.
Market Access
StoneX Trading offers more than 80 global FX pairs, covering the major currencies as well as a decent selection of minor and exotic crosses.
That gives you plenty of choice beyond the obvious EUR/USD, GBP/USD and USD/JPY markets. For example, you can also trade crosses involving currencies such as the Australian dollar, Canadian dollar, Swiss franc and Chinese renminbi.
Forex is available through both CFDs and spread bets, while spot FX is also available through MT4.
One limitation is that this is primarily an OTC forex offering. If you specifically want to trade listed currency futures on an exchange, you may be better off with a futures broker. But for the vast majority of retail forex traders who want to speculate on currency movements through CFDs or spread betting, there is more than enough market coverage.
Platform & Apps
There are several ways to trade forex with StoneX Trading, which is one of its main strengths.
The main StoneX Trading platform is available on web, mobile and desktop and includes TradingView charting, customisable workspaces, more than 10 chart types, over 80 indicators, drawing tools and one-click dealing. You also get watchlists, price alerts, hedging and different order types.
You can also trade through TradingView, which gives you considerably more technical analysis functionality, including more than 100 built-in indicators, community-built indicators, screeners and advanced charts.
Then there is MetaTrader 4, which remains one of the most popular platforms for dedicated forex traders, particularly if you want to use automated trading strategies or are already familiar with MT4.
Personally, I’d stick with StoneX Trading’s own platform unless you have a particular reason to use MT4. It is easier to use and has more of StoneX's own tools integrated into it.
The mobile app is also very good for monitoring positions when you are away from your desk and includes TradingView charts and Performance Analytics.
Customer Service
Customer service is one of the areas where StoneX Trading stands out from some of the newer forex brokers.
StoneX describes its offering as a “high-touch service”, with dedicated support available 24 hours a day, five days a week by phone, email and live chat.
That matters more in forex than it might with a straightforward investment account. Currency markets move quickly and trade around the clock during the week, so if there is an issue with an order or your account, being able to speak to somebody is important.
It is also one of the reasons I think StoneX Trading is particularly suitable for larger and more active traders. There are plenty of cheaper-looking forex apps around, but when you are trading meaningful positions, service and execution become far more important than shaving a fraction of a pip off an advertised spread.
Research & Analysis
This is one of StoneX Trading's strongest areas for forex traders.
There is a proper stream of FX news and research covering individual currency pairs and the macroeconomic events that drive them. You also get an integrated economic calendar, which is essential for forex trading because inflation, employment data, interest-rate decisions and central-bank speeches can all move currencies very quickly.
StoneX Trading also provides access to its global analyst coverage, StoneX TV and Market Intelligence.
I particularly like Performance Analytics, because instead of simply giving you another stream of trading ideas, it looks at how you actually trade. It can help identify patterns in your trading behaviour and whether you are sticking to your strategy.
That's especially useful in forex, where it is very easy to overtrade. Having 80+ currency pairs available doesn't mean you need to trade all of them, and sometimes understanding which markets, times and types of trade you perform best in is more valuable than finding another trading signal.
Combined with Reuters news, TradingView charting and StoneX's own market analysis, the research offering is one of the main reasons to choose StoneX Trading over a more basic forex broker.
Customer reviews for StoneX Trading (Formerly City Index)
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 125 reviews
- Excellent41%
- Very good25%
- Basic18%
- Poor10%
- Bad7%
Read customer reviews
reliable
City Index excels at delivering a fast, intuitive trading experience with strong research tools and consistently tight spreads. Their platforms are stable, user‑friendly, and backed by excellent market analysis, making it easy for traders to execute quickly and confidently
Innovative, and very helpful.
Option margining is very good including showing indicative prices for markets that are closed. This keeps account p&L stable and margin is very stable.
Great platform
Great platform that is quick and easy. Staff are very professional and helpful.
Efficient execution
spread
Tradeview Charts
Quick trading. Still learning site. Nice clean charts. No gripes.
Easy to navigate and reliable Trading platform
I have been with city Index since 2008 and have both CFD and Spread Bet accounts. Both Webtrader and mobile app have been getting better over the years. My main criteria when trading has always been simplicity and speed of trading platform which City Index provides. Also flexibility of of being able to log on to more then one device at anyone time. I have always been provided excellent service by City Index whenever I had queries.
Happy customer
We have been with City Index since the days of Finspreads. We have generally made money and sometimes lost money. The pay in system is instant and the draw down system does take a few days due to the legislation regarding money laundering. I have never had a problem with City Index in over two decades. Oh and they answer phone calls.
Best personalised service
I like the personalised service and ability to speak to someone if there are issues. Margin management is good too.
Good customer service
The customer service is very effective and efficient, and money management is top-notch.
Withdrawing money from the platform to your account is superb and no time-wasting.
Best SpreadBetting company I have found
I have a spreadbetting account and I am very satisfied with it. I particularly like the charts they offer. Execution has also been fast as well. The only criticism I can give is that very often the trading platform is updated over the weekend, but there is no notification anywhere as far as I know as to what the update actually is. Usually I have no knowledge of what the update actually is. This review is for the trading platform run in a web browser, I have never used the mobile phone App.
Effective performance
Quick actions performed. Good management of money. Only small amounts of money need be risked.
Everything works
Trouble free App, Secure platform . Competent Help and backup assistance when required
Superb customer oriented organisation.
City index is a superb customer oriented organisation for spread betting. Excellent access to professionals, a versatile platform (and mobile app), and most of all, stable and reliable pricing especially during times of market turbulence.
Fast transaction
I have a private forex account.
All transactions are executed instantly and accurately.
Never had a problem with delays.
On most occasions the price you ask for is the price you get.
Have tried other brokers and City Index have always been the best.
My Trading Platform
Professional and helpful people.
Great platform
Webinar
I have a trading account with City Index .
I have always been happy with them but now that they have started the webinars they are even better .
High risk trading
Able to high risk trade without worrying about being scammed
My trading platform
Good and professional people. Very clear platform.
Excellent service
Spreadbet account. Never had any issues with City Index. First Class platform.
Very good - easy to use platform, couldn't ask for better.
Spreadbetting.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.