CIX Markets is a trading name of City Credit Capital (UK) Limited, which has been authorized and regulated by the Financial Conduct Authority (FCA) since 2004. CIX Markets is one of the best CFD retail brokers, focusing on order fulfillment and technology, which has led to the collection of many awards, the company claims. CIX Markets provides online trading in currency pairs, and CFDs on indices, commodities, and precious metals through the world’s most popular trading terminal – MetaTrader 4 (MT4) and its own platform as well. The company claims you will not be requoted, and price manipulated. You can start trading with whatever amount you decide.
It is crucial to know where and by whom the company is regulated. CIX Markets is a trading name of City Credit Capital UK Ltd, which is authorized and regulated by the Financial Conduct Authority (FCA) under reference number 232015. This means CIX Markets is strictly regulated and must conduct its business to the high standards required by the FCA. All client money is held in a segregated account with HSBC. In addition, retail clients are protected by the Financial Services Compensation Scheme (FSCS) and if the company is unable to pay claims, customers can apply to this scheme for compensation up to GBP85,000
There are no different types of live trading accounts. Trading conditions are equal for all groups of traders, regardless of the deposited amount. The most liquid currency pairs have a fixed spread and the rest have a floating one. The spread for the EUR/USD pair is 1 pip and the instrument is quoted to the fifth digit. There is no minimum initial deposit required.
How the Company Executes Client Orders
The “Terms and Conditions of Business” document shows that in respect to every trade made between you and the company, City Credit Capital (UK) Limited shall deal as principal with you. The “Order Execution Policy” file also shows that City Credit Capital (UK) Limited will deal with you as principal and not as your agent. It will always be the counterparty to your trades and therefore it is the only “execution venue”, or it acts as a market maker. The company generally makes its money from the spreads of the instruments. However, a client’s loss may result in the profit for the company, which involves a conflict of interest because when the company executes orders, it keeps the risk to itself.
It is also written that placing contingent orders, such as “stop-loss” or “stop-limit” orders, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders. This means that all orders are subject to slippage and stop loss orders are not guaranteed.
The FCA regulation ensures that the company has a negative balance protection policy, and therefore you cannot lose more than you have on your account.
There is no inactivity fee, so you can determine the time frame in which you want to trade. Of course, there are common fees such as spread, swap and rollover.
Deposits and Withdrawals
Deposits can be made by bank transfer, credit/debit cards or by e-wallets such as Neteller and Skrill. CIX Markets can only accept funds sent from bank accounts held in the client’s name. Money sent by bank transfer arrives within 1-5 business days, while any other method is immediate.
Withdrawals can be made in the same ways as deposits – bank transfer, credit/debit cards and electronic wallets. Withdrawal options generally depend on your deposit and trading history at the time you request the withdrawal. The company policy is that all funds must be returned to the original source. This applies to all card and wire transfers.
You can trade via one of the most popular trading terminals worldwide – MetaTrader 4 (MT4). This is a highly personalized terminal showing detailed information about financial assets and transactions. There are many custom technical indicators and charts that will help you determine the right strategy for you. The platform is also available as a web-based version that works on any browser without the need to install software.
In addition, CIX Markets has developed its own platform called CIX Trader. It is available as a mobile based or downloadable application. The system includes a Free News service, a Free Charting Package, Daily Market Briefings and Free Technical Analysis from Trading Central.
Currency pairs – 55 popular major, minor, and exotic currency pairs can be traded. The most liquid currency pairs have a fixed spread and the rest have a floating one. The spread for the EUR/USD pair is fixed at 1 pip.
Indices – You can trade 8 of the major indices globally, such as DAX30 and UK100. The spread for the UK100 is 1 point.
Commodities – 7 of the most traded commodities are available such as Gold, Silver, Oil and Brent. They can be traded as spot and futures contracts. The spread for Crude Oil starts at USD0.03.
There is an educational section on the web page called “News and Education”. You can be informed about the financial markets, technical and fundamental analysis system overview.
City Credit Capital (UK) Limited is an FCA-regulated company that must meet strict regulatory requirements. You can trade currency pairs, commodities, and indices through one of the most popular platforms over the world – MT4, as well as its own developed terminal. You can deposit by bank wire, debit/credit cards, and e-wallets. All retail clients are covered by negative balance protection. You can start trading by deposit as low as you would like. The company usually acts as a market maker, and a conflict of interest exists.