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City Index

City Index is a trading name of GAIN Capital UK Limited. The company GAIN Capital UK Ltd authorised and regulated by the Financial Conduct Authority (FCA) under reference number 113942.

The company provides spread betting and CFDs trading on over 12,000 global instruments including indices, shares, currency pairs and cryptocurrencies. The average spread of the EUR/USD pair is within 1.0-1.6 pips, while that of Bitcoin is about USD35.

City Index offers three ways to trade, Spread betting, CFD trading and Forex on MetraTrader 4. Spread betting is appropriate for UK citizens only as it is tax free there.

There are a variety of trading platforms, including one of the most popular trading platforms globally – MetaTrader 4. The company also offers its own, web-based terminal, called Web Trader. Using HTML5 technology, it incorporates advanced charts with custom indicators and provides custom workspace. Customers can trade on the go with the company’s apps for iOS and Android devices. They have over 60 technical indicators and custom chart profiles matching trader’s preferences. In addition, traders can receive the latest Reuters news in the apps. Advanced users can enjoy a more sophisticated desktop terminal called AT Pro Trading Platform. Customers can create their own trading templates using advanced charts and drawing tools.

The News and Analysis section contains the latest news and analysis from the company’s experts and an updated economic calendar. A company earnings calendar is also available. Plenty of useful things can be found in the Training section include webinars and trading courses.

Let us find out what kind of broker City Index is. The ‘General Terms’ document shows that City Index provides two types of stop loss orders – guaranteed and non-guaranteed. The company offers guaranteed stop loss orders for a limited range of markets, where explicitly stated. CityIndex sets minimum and maximum quantities for them. Guaranteed stop loss orders are not free of charge. A premium will be charged if the guaranteed stop loss order is triggered. All fees are mentioned in the ‘Pricing and Charges’ section and for EUR/USD the premium will be 4 times the quantity exchanged in base account currency. Lastly, guaranteed stop loss orders are not available for MetaTrader 4 accounts. All other types of orders will be executed at the first available price when slippage occurs.

The ‘General Terms’ document indicates that City Index deals with clients as principal and not as agent on their behalf. This means that City Index will be the counterparty to all of client trades, or act as a market maker. Market makers make money when clients lose, so a conflict of interest arises.

Retail clients are offered negative balance protection. This means that client’s aggregate liability for all realised losses in respect of their trades cannot exceed their initial cash.

As a conclusion, City Index is part of the Gain Capital group – a global forex company. It offers competitive trading conditions (including guaranteed stop loss orders), as well as spread-betting on a wide range of platforms. It is a well-regulated company that acts as a market maker and provides negative balance protection for its retail clients.

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