City Index Review

Active CFD and spread betting traders

FCA ASIC CySEC MAS

Founded 1983 · United Kingdom · StoneX Group Inc.

Why investors choose this broker

Regulated by FCA, ASIC, CySEC and MAS
FSCS investor protection for UK clients
No account opening, deposit or standard withdrawal fees
13,500+ tradeable markets including forex, indices, shares and commodities

Review summary

City Index is a UK-founded spread betting and CFD broker offering 13,500+ markets across forex, indices, shares, commodities and options, regulated by the FCA, ASIC, CySEC and MAS.

Pros

Regulated by FCA, ASIC, CySEC and MAS
FSCS investor protection for UK clients
No account opening, deposit or standard withdrawal fees
13,500+ tradeable markets including forex, indices, shares and commodities
Spread betting is tax-free for UK residents
TradingView integration with direct trade execution
Free demo account with £10,000 virtual funds
Negative balance protection for retail clients

Cons

Inactivity fee of £12 per month after 12 months
Stock CFD commissions apply on every trade
Demo account expires after 12 weeks
Crypto CFDs unavailable to UK retail clients under FCA rules
No MetaTrader 5 support for most regions
No copy trading or social investing features
No passive investment options such as ready-made portfolios

Company background

City Index was founded in London in 1983, pioneering spread betting for retail clients. It expanded into CFDs in 2001 and grew through acquisitions including IFX Group and FX Solutions. In 2014, GAIN Capital acquired City Index, and in 2020 StoneX Group (Nasdaq: SNEX) acquired GAIN Capital, making City Index part of StoneX's retail brokerage division. The broker now serves clients across the UK, Europe and Asia-Pacific with access to over 13,500 markets.

Fees and pricing

City Index charges no account opening fee and no fee for standard deposits or withdrawals. A same-day CHAPS transfer may incur a bank charge of around £25. An inactivity fee of £12 per month applies after 12 consecutive months of no trading activity. Spread betting and index CFD trading are commission-free, with costs built into spreads. Stock CFDs carry a commission of 0.08% per side with a minimum of £10 for UK shares, EUR 10 for European shares and $10 for US shares; US shares are charged at approximately 1.8 cents per share with a $10 minimum. Overnight financing is calculated at 2.5% above or below the relevant benchmark interest rate. Forex spreads on EUR/USD vary by account type and market conditions.

Regulation and safety

City Index operates through regulated entities in multiple jurisdictions. In the UK, StoneX Financial Ltd is authorised by the FCA under FRN 446717. In Australia, it holds AFSL 345646 from ASIC. In Europe, StoneX Europe Ltd is regulated by CySEC. In Singapore, StoneX Financial Pte. Ltd. is regulated by MAS. UK retail clients benefit from FSCS investor protection up to £85,000 and client funds are held in segregated accounts. Retail clients also receive negative balance protection.

Platform experience

City Index offers Web Trader, MetaTrader 4 and a direct TradingView integration. Web Trader runs in a browser with over 90 technical indicators, a TradingView-powered charting engine, the PlayMaker risk management tool and integrated research from Trading Central. TradingView integration allows direct trade execution from charts using Pine Script strategies. MT4 supports Expert Advisors for automated trading. Native iOS and Android apps include charting, order management and news. A free demo account with £10,000 in virtual funds is available for 12 weeks.

Pros and cons

City Index's main strengths are its long operating history, tier-1 regulatory oversight, broad market access across spread betting and CFDs, commission-free spread betting, TradingView integration and FSCS protection for UK clients. The main limitations are the monthly inactivity fee, stock CFD commissions, the 12-week demo expiry, no crypto CFDs for UK retail clients, no MetaTrader 5 in most regions and no copy trading or passive investment tools.

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Open an account directly with the broker. Confirm current fees and account eligibility on the broker's website before depositing.

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Your capital is at risk. Other fees apply.

Trading fees & commissions

City Index charges no account opening, deposit or standard withdrawal fees. Spread betting and index CFDs are commission-free with costs built into spreads, while stock CFDs carry a separate commission. An inactivity fee of £12 per month applies after 12 consecutive months of no trading.

Fees

Item	Fee
Cfds	Spread betting and index CFDs: costs built into spreads; stock CFDs: 0.08% per side (minimum £10 UK, $10 US, EUR 10 EU); US shares: approx 1.8 cents per share (minimum $10)
Margin	Overnight financing charged on leveraged positions at benchmark rate plus or minus 2.5%
Account	No account opening fee
Deposit	Free for debit/credit cards, PayPal and bank transfers
Overnight	Financing rate set at 2.5% plus or minus the relevant benchmark interest rate
Inactivity	£12 per month after 12 consecutive months of no trading activity
Withdrawal	Free for standard transfers; same-day CHAPS transfer may incur a £25 bank charge
Spread Betting	No commission; costs embedded in spreads

Trading platform & features

Platforms

Web Trader
MetaTrader 4
TradingView
iOS app
Android app

Regulation and investor protection

City Index is authorised and regulated by the FCA in the UK (FRN 446717), ASIC in Australia, CySEC in Cyprus, and MAS in Singapore. UK retail clients are covered by FSCS investor protection up to £85,000 and client funds are held in segregated accounts.

Broker FAQs

Is City Index safe?

City Index is authorised and regulated by the FCA in the UK, ASIC in Australia, CySEC in Cyprus and MAS in Singapore. Client funds are held in segregated accounts and UK retail clients have access to FSCS investor protection.

Is City Index a scam?

No. City Index has operated since 1983 and is regulated by the FCA, ASIC, CySEC and MAS. It is part of StoneX Group Inc., a Nasdaq-listed financial services company.

Is City Index regulated and by whom?

Yes. City Index is regulated by the FCA in the UK (FRN 446717), ASIC in Australia (AFSL 345646), CySEC in Cyprus and MAS in Singapore.

Does City Index keep client funds in segregated accounts?

Yes. City Index holds client funds in segregated accounts in accordance with the client money rules of each applicable regulator.

What happens to my money if City Index goes bankrupt?

Client funds are held in segregated accounts and are not part of City Index's own assets. UK retail clients may also be eligible for FSCS compensation up to £85,000 if the firm cannot meet its obligations.

What products does City Index offer?

City Index offers spread betting and CFDs on over 13,500 markets, including forex, indices, shares, commodities, bonds, options and futures. Crypto CFDs are not available to UK retail clients under FCA rules.

Does City Index offer spread betting?

Yes. Spread betting is available on forex, indices, shares and commodities. Spread betting profits are exempt from capital gains tax and stamp duty for UK residents.

Does City Index offer forex trading?

Yes. City Index offers CFD and spread betting trading on over 80 forex currency pairs.

Does City Index offer options?

Yes. City Index lists options trading on forex, indices and selected other markets as an available product.

What does City Index charge for stock CFD trades?

Stock CFDs carry a commission of 0.08% per side with a minimum of £10 for UK shares, EUR 10 for European shares and $10 for US shares. US shares are charged at approximately 1.8 cents per share with a $10 minimum.

What does City Index charge for forex and index trading?

Forex and index CFDs and spread bets are commission-free. All trading costs are built into the spread. EUR/USD spreads are variable and depend on account type and market conditions.

Is there a withdrawal fee at City Index?

Standard withdrawals are free. A same-day CHAPS transfer may incur a bank fee of around £25, though this is charged by the bank rather than by City Index.

Does City Index charge an inactivity fee?

Yes. City Index charges £12 per month after 12 consecutive months of no trading activity.

Does City Index have a demo account?

Yes. City Index offers a free demo account with £10,000 in virtual funds and access to over 13,500 markets. The demo account is valid for 12 weeks.

Does City Index have a mobile app?

Yes. City Index provides native apps for iOS and Android, including full charting, order management, news and account management.

Is City Index good for beginners?

City Index provides a free demo account, educational resources and a research portal. However, it focuses on spread betting and CFDs, which are complex leveraged products, and does not offer copy trading or ready-made portfolios.

Is City Index good for long-term investing?

City Index is primarily designed for active trading via CFDs and spread betting rather than long-term investing. It does not offer stocks, ETFs or ISAs for direct buy-and-hold investing.

Bottom line

City Index suits users who want an established, FCA-regulated spread betting and CFD broker with broad market access, competitive index and forex spreads, TradingView integration and tax-free spread betting in the UK. It may not suit users who want passive investment tools, copy trading, a permanent demo account, MetaTrader 5 or crypto CFDs as a UK retail client.

City Index

Active CFD and spread betting traders

Open Account

Your capital is at risk. Other fees apply.