Review of famous financial brokers: City Index

Brokers operate on the global financial market, the history of which, for the most part, begins in the 2000s, more rarely in the 1990s. How many companies can boast that already in the 80s. 20 century, they provided financial services to investors, managers, consultants or individuals? Units And this group of “long-livers” includes the City Index broker, which is quite famous among professional traders and investors. Established in 1983, the company successfully worked in the market of financial betting services, being one of the first exchanges in the UK, which made it possible to make money by changing the rates of financial instruments.

Almost until 2014, the broker was a legally independent firm, but nowadays it has been absorbed by stronger competitors. Today, this brand is owned by GAIN Capital UK Ltd (a division of the famous British holding GAIN Capital Holdings, Inc.).

How City Index cares about its customers

The administration of the presented company states that their trading platform is one of the world leaders in online trading, as well as the largest supplier of CFD contracts. As far as this statement is true, only specialists who are professionally involved in such issues can say. The task is greatly complicated by the fact that the global financial market is constantly evolving. New participants are coming, suddenly powerful institutions or wealthy investors are suddenly declaring bankruptcy to significantly “raise” the rating of mediocre companies, etc. But if you even conduct a superficial City Index survey, you can be sure that the broker is among the strongest companies.

User security

The application and well-known platforms prepared for the City Index ensure fast data processing and reliably protect clients’ operations from the impact of external negative factors. Mandatory verification of personal data is a serious, and often insurmountable, barrier for fraudsters, lovers of “laundering” income of dubious origin, and other dangerous customers. Due to this, the resource does not attract the attention of Interpol and representatives of other law enforcement agencies, and traders can work without fear that the website can be blocked at any time by police officers.

On the website of the company you will find: a phone number, an e-mail address and an online chat to communicate with representatives of the broker. Qualified specialists will help you in the shortest possible time to solve technical and financial problems that have arisen in the process of working on the trading platform.

Regulator

But the most convincing evidence of the reliability and security of a broker is the presence of a reputable financial regulator. In this case, the functions of the controlling organization are performed by the FCA (Financial Regulation and Supervision Authority). It is worth paying attention to the fact that the authoritative British regulator has been cooperating with GAIN Capital UK Ltd for more than 15 years. During this time, the broker has provided FCA employees with a huge number of reports proving that the company has the right to work in the global financial market. For many experienced traders, this information is quite enough to register a login to the City Index, as well as recommend a broker to your friends and acquaintances.

Training

Apart from a rather extensive introductory section on the broker’s official website, which describes the main nuances of Forex trading, it can be said that there are no full-fledged training courses on this trading platform. Another serious drawback of the site (for many of our compatriots) is the lack of a Russian-language version of the web resource. Although many experienced traders who have never studied English, are well versed and know how to make a deal without the help of an interpreter.

The availability of a demo account on the City Index largely compensates for the lack of full-fledged training courses. This feature is available to all users, and virtual 10 thousand British pounds make it possible to develop your own strategy for the game on the trading floor.

Characteristics and key indicators City Index

Despite the vast experience of work, the broker in question, in some positions, is much inferior to even less reputable companies. For example, as mentioned above, on training, which is practically absent in the City Index. Also, the site does not have an account management service and binary options trading. There is no bonus program and no contests are held, and automated trading is limited to advisors who are in the set of terminals.

Trading Terms

Studying the reviews compiled about the City Index, one can notice that some users are dissatisfied with the conditions offered by the broker. In this case, the solid “age” of the company causes various misunderstandings. Throughout its existence, the broker changed some parameters, which is quite natural for any participant in the global financial market. As a result, today, companies attribute the minimum deposit to 100 British pounds and 250, as well as the complete absence of restrictions on this indicator (the last option is relevant).

● The minimum lot is 0.01.

● Trading leverage – up to 1: 400.

● Base currencies of accounts – British pound, euro and US dollar.

● Islamic account – no.

● Affiliate program – there is.

● Estimated level of income – up to 80%.

How to withdraw money or deposit money

Looking through brokers’ ratings, it’s hard not to notice that reviews written about the City Index (even if the author is positive towards the company) emphasize ways to deposit / withdraw funds. Indeed, in our time, two options for solving this problem (bank transfer and plastic card) are very few. The administration of a web resource needs to urgently solve something and look for ways to solve this problem.

 Trading assets

Users of the trading platform are given the opportunity to enter into transactions using the following tools:

● Currency pairs.

● Promotions.

● Cryptocurrencies.

● Indices.

● Commodities.

● Precious metals.

Despite solid experience, reputation, and other positive factors, the City Index broker needs, as quickly as possible, to eliminate some of the negative aspects that may alienate potential users. First of all, it concerns training, ways to replenish the deposit, as well as a very slow verification procedure. If you eliminate these defects, the company will indeed be entitled to the status of one of the strongest in the world.