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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

๐Ÿ—บ๏ธ Regulated inUSA, UK, Australia, Japan, Singapore, Canada, Cayman Islands
๐Ÿ›ก๏ธ Is City Index safe to tradeYes
๐Ÿ’ต EUR/USD spread0.8 pips
๐Ÿฆ DepositBank Wire, Credit and Debit Cards  
๐Ÿ’ฐ Minimum depositUS$100
๐Ÿฆ WithdrawalBank Wire, Credit and Debit Cards
๐Ÿ’ป Trading platformMT4, City Index WebTrader
๐Ÿ’ณ Trading marketsForex, CFDs, Options and Spread Betting on Commodities, Indices, Stocks, Bonds, Interest Rates
๐Ÿ“ˆ Number of product12,000+
๐Ÿ“‰ Live chat responseInstant and relevant answers


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

EntityRegistered inRegulatorLicense no.Status
GAIN Capital Holdings IncUSACommodity Futures Trading Commission (CFTC), a member of the National Futures Association (NFA) Currently Regulated
StoneX Financial Ltd.UKFinancial Conduct Authority (FCA) 113942 Currently Regulated
GAIN Capital Australia Pty LtdAustraliaAustralia Securities and Investment Commission (ASIC)ACN 141 774 727, AFSL 345646Currently Regulated
GAIN Capital Canada LtdCanadaInvestment Industry Regulatory Organization of Canada (IIROC)12-0165Currently Regulated
GAIN Capital  Japan LtdJapanFinancial Services Authority (FSA) Currently Regulated
GAIN Capital Singapore Pte LtdSingaporeMonetary Authority of Singapore (MAS) Currently Regulated
GAIN Global Markets Inc.Cayman IslandsCayman Islands Monetary Authority (CIMA)25033Currently Regulated
City Index Review โ€“ FCA License

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

EntityCompensation AmountNegative Balance Protection
GAIN Capital Holdings Inc (USA)No compensationYes
StoneX Financial Ltd.ยฃ85,000Yes
GAIN Capital Canada LtdCAD 1,000,000Yes
All other entitiesNo compensationYes

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.


Account types

City Index offers two different account for CFDs trading and Spread Betting.  


Login Account is on the website where you can register or access existing account management area.

City Index Review โ€“ Accounts Conditions
City Index Review โ€“ Accounts Conditions

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

ForexEUR/USD0.1-0.91-1.51.6 or higher
IndicesUS 5000.1-0.40.5-22 or higher
CommoditiesGold0.1-0.40.5-22.1 or higher
StocksTesla0.1-0.50.6-11.1 or higher
ETFsUS Russell 20000.1-0.40.5-1.41.5 or higher
CryptocurrenciesBitcoin0.1-0.5%0.6-0.9%1% or higher


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.

MarketsInstrumentsStandardOther brokersโ€™ avg spread
IndicesUS 50020.5-2
StocksTesla4 cents0.6-1
ETFsUS Russell 200020.5-1.4

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 ConditionsYes/No
Hedging AllowedYes
Scalping AllowedYes
Change Leverage AllowedYes

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.


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 MethodFunding TimeFee
Bank Wire Transfer1-2 business days0$
Credit / Debit CardImmediate0$

Minimum Deposit

The minimum deposit requirement at City Index is $100.


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 MethodWithdrawal TimeFee
Bank Wire TransferUp to 48 hoursAdditional fees may be applied by receiving bank.
Credit / Debit CardUp to 24 hoursFree
City Index Review โ€“ Deposit and withdrawal โ€“ Withdrawal
City Index Review โ€“ Deposit and withdrawal โ€“ Withdrawal


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

City Index Review โ€“ Bonus
City Index Review โ€“ Bonus

Trading Platform

City Index offers various platforms proprietary WebTrade and MetaTrader4. 


City Index App available for iOS and Android devices, has numerous tools and full control over your account.

City Index Review โ€“ City Index platform
City Index Review โ€“ City Index platform

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
City Index Review โ€“ Research
City Index Review โ€“ Research


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
City Index Review โ€“ Education

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
  • Email
City Index Review โ€“ Customer Service
City Index Review โ€“ Customer Service

City Index live chat firstly login to Chat Bot and offering to connect to live agent in case you didnโ€™t find an answer

Question AskedWe asked about withdrawals.
Time of ReplyWe were connected to customer support Live Chat after choose this option on Live Support Bot within minutes
Quality of ReplyThe answer was informative and professional.


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 brokerโ€™s 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 brokerโ€™s pros and cons.

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