Want to see if City Index is a legit broker? Is it safe to trade? It spread is high or low? How long to deposit or withdraw funds?
We provide answers to all the questions in this City Index Review.
We checked City Index licenses and regulations to see if City Index scam or safe. Compared IC Markets fees like spread & commission from the Live account to other 150 brokers, required time for deposit & withdrawal and many more findings all in this review.
What is City Index
City Index is a UK based Forex and CFD broker, a part of publicly traded and NASDAQ listed StoneX Group Inc. established in 1983.
City Index was acquired by GAIN Capital in 2014 and in 2020 StoneX acquired the holding. Apart of being listed on a Stock exchange, the company is regulated by several top-tier authorities including CFTC in the USA, Financial Conduct Austerity in the UK, ASIC in Australia, IIROC in Canada and more.
City Index highlights
๐บ๏ธ Regulated in | USA, UK, Australia, Japan, Singapore, Canada, Cayman Islands |
๐ก๏ธ Is City Index safe to trade | Yes |
๐ต EUR/USD spread | 0.8 pips |
๐ฆ Deposit | Bank Wire, Credit and Debit Cards |
๐ฐ Minimum deposit | US$100 |
๐ฆ Withdrawal | Bank Wire, Credit and Debit Cards |
๐ป Trading platform | MT4, City Index WebTrader |
๐ณ Trading markets | Forex, CFDs, Options and Spread Betting on Commodities, Indices, Stocks, Bonds, Interest Rates |
๐ Number of product | 12,000+ |
๐ Live chat response | Instant and relevant answers |
Regulation
License and regulation are the keys to tradersโ fund security. We check two factors, a license that broker carry also its background, and how you are protected if something goes wrong.
Is City Index legit
City Index and its parent company StoneX is regulated by multiple financial authorities, also is providing financial statements being listed on Stock (NASDAQ: SNEX).
The company is established under the Financial Conduct Authority (FCA), Monatary Authority of Singapore (MAS), Australia Securities and Investment Commission (ASIC) regulation, and other regulators with global expand.
City Index Licenses and status
Entity | Registered in | Regulator | License no. | Status |
GAIN Capital Holdings Inc | USA | Commodity Futures Trading Commission (CFTC), a member of the National Futures Association (NFA) | Currently Regulated | |
StoneX Financial Ltd. | UK | Financial Conduct Authority (FCA) | 113942 | Currently Regulated |
GAIN Capital Australia Pty Ltd | Australia | Australia Securities and Investment Commission (ASIC) | ACN 141 774 727, AFSL 345646 | Currently Regulated |
GAIN Capital Canada Ltd | Canada | Investment Industry Regulatory Organization of Canada (IIROC) | 12-0165 | Currently Regulated |
GAIN Capital Japan Ltd | Japan | Financial Services Authority (FSA) | Currently Regulated | |
GAIN Capital Singapore Pte Ltd | Singapore | Monetary Authority of Singapore (MAS) | Currently Regulated | |
GAIN Global Markets Inc. | Cayman Islands | Cayman Islands Monetary Authority (CIMA) | 25033 | Currently Regulated |

Is City Index safe
Yes, City Index is considered safe because it is regulated by several top-tier regulators and has strong background.
City Index operates regulated according to necessary laws trading environment, and financial background and audit of the parent company are good markets for safety.
City Index compensation scheme
Entity | Compensation Amount | Negative Balance Protection |
GAIN Capital Holdings Inc (USA) | No compensation | Yes |
StoneX Financial Ltd. | ยฃ85,000 | Yes |
GAIN Capital Canada Ltd | CAD 1,000,000 | Yes |
All other entities | No compensation | Yes |
City Index provides negative balance protection for all retail clients.
Markets and Products
At City Index you can trade extended range of global markets including Forex and CFDs, also Options and Spread Betting on Commodities, Indices, Stocks, Bonds and Interest Rates.
Markets | Instruments |
Forex | 80+ |
Indices | 20 |
Commodities | 29 |
Bonds | 12 |
ETFs | 690 |
Cryptocurrencies | โ |
Shares | 4,500+ |
Account types
City Index offers two different account for CFDs trading and Spread Betting.
Login
Login Account is on the website where you can register or access existing account management area.

Fees and commissions
We ranked City Index fee levels as average and low based on our findings and compared to 150 brokers in our database.
The spread we collected for popular instruments from 6 markets and over 150 brokers
Markets | Instruments | Low | Average | High |
Forex | EUR/USD | 0.1-0.9 | 1-1.5 | 1.6 or higher |
Indices | US 500 | 0.1-0.4 | 0.5-2 | 2 or higher |
Commodities | Gold | 0.1-0.4 | 0.5-2 | 2.1 or higher |
Stocks | Tesla | 0.1-0.5 | 0.6-1 | 1.1 or higher |
ETFs | US Russell 2000 | 0.1-0.4 | 0.5-1.4 | 1.5 or higher |
Cryptocurrencies | Bitcoin | 0.1-0.5% | 0.6-0.9% | 1% or higher |
Spreads
City Index fee basis is based on a tight spreads and no commission charges, except on Shares CFDs. Professional traders will get discounted rates and tailored conditions.
Comparing the spreads charged for our test trades to industry benchmarks we rank Forex and Commodities spreads low, and Indices are average.
Markets | Instruments | Standard | Other brokersโ avg spread |
Forex | EUR/USD | 0.8 | 1-1.5 |
Indices | US 500 | 2 | 0.5-2 |
Commodities | Gold | 0.3 | 0.5-2 |
Stocks | Tesla | 4 cents | 0.6-1 |
ETFs | US Russell 2000 | 2 | 0.5-1.4 |
Cryptocurrencies | Bitcoin | โ | 0.6-0.9% |
Other Fees
City Index has low non-trading fees. There is no fee for deposit and withdrawals, but there is inactivity fee for no use.
Trading Conditions
The trading conditions at City Index are good. You can deploy mostly all types of strategies including scalping and hedging.
Trading Conditions | Yes/No |
Hedging Allowed | Yes |
Scalping Allowed | Yes |
Change Leverage Allowed | Yes |
For hedging, there are no time limitations for keeping hedging positions.
For scalping, no restrictions for margins and opening positions.City Index MT4 is supporting various VPS providers and Expert Advisors (EAs) are available.
City Index leverage for CFD trading depending on the instrument and offering maximum of 1:30 for Forex instruments.
Deposit
City Index charges no deposit fees. You can use most common methods for deposits like bank transfer or Credit Card.
From the downside e-payments are not supported.
A bank transfer can take few business days, while payment with credit/debit cards are immediate.
Deposit Method | Funding Time | Fee |
Bank Wire Transfer | 1-2 business days | 0$ |
Credit / Debit Card | Immediate | 0$ |
Minimum Deposit
The minimum deposit requirement at City Index is $100.
Withdrawal
City Index charges no fees for withdrawals similar to deposits using the same payment options Bank Wire and Cards.
City Index process withdrawals quickly, typically within 1-2 business days.
Withdrawal Method | Withdrawal Time | Fee |
Bank Wire Transfer | Up to 48 hours | Additional fees may be applied by receiving bank. |
Credit / Debit Card | Up to 24 hours | Free |

Bonus
From time to time City Index runs promotion and Bonus programs, but typically for trading performance, there is no Welcome bonus.

Trading Platform
City Index offers various platforms proprietary WebTrade and MetaTrader4.
App
City Index App available for iOS and Android devices, has numerous tools and full control over your account.

Research and Tools
City Index research and tools are great, numerous tools you can find in the platform, plus additional tool including Calendars, News Channels and News Feed, Advanced Charting tools, trade Signals, Trading Ideas, Market Analysis and fundamental analysis portal.
There in no negative sides of City Index research, you can find research tools on:
- MetaTrader and WebTrader platforms
- Market News section
- Trading Tool section on the website

Education
City Index educational content is high quality and easy to navigate on the website. You can learn through education courses, well categorized videos, platform tutorials, webinars, trading strategies, etc.
Demo Account
Demo accounts are free and available for both platforms including MetaTrader and City Index platform.
At City Index you can learn in the following:
- Demo account
- Trading videos and tutorial videos
- Webinars, Courses
- Educational articles
- Trading strategies and Fundamental data

Customer Service
City Index customer service is good, FAQ section is informative and answers many question, we got fast and professional answer via the Live Chat too.
You can contact City Index only 24/5 by:
- Live chat
- Telephone

City Index live chat firstly login to Chat Bot and offering to connect to live agent in case you didnโt find an answer
Question Asked | We asked about withdrawals. |
Time of Reply | We were connected to customer support Live Chat after choose this option on Live Support Bot within minutes |
Quality of Reply | The answer was informative and professional. |
Conclusion
City Index is a safe broker to trade. The company has solid background and position of the parent company, also operating over 35 years. Numerous worldwide authorities overseeing operation of the group plus to being listed in the Stock that gives extra layers of safety.
Trading conditions are also good, with low costs and wide selection of trading products, quality education and research.
We recommend City Index for beginning or seasoned traders who look for large trading offerings and flexibility between platforms with low costs.
Author of this review

By Jimmy O'Brien
Author of this review
Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing brokerโs pros and cons.
Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing brokerโs pros and cons.