City Index is a good choice for investors looking for exposure to more complicated derivatives. It is backed by the US-based, Nasdaq-listed company StoneX which has been in the financial market for over a century.
City Index is a sound choice for individuals who are interested in CFD trading. It not only has some of the cheapest CFD commission rates for non-US equities but also a comprehensive trading platform and executes trades promptly.
| Summary of City Index |
|---|
| Access to a wide range of markets, including forex, indices, shares, commodities and metals |
| Competitively priced CFD commissions |
| Swift execution with 99% of trades being executed within one second |
| Variety of tools for users, including personalized performance analytics to help optimize trades |
| 24/5 customer service via live chat, email and phone |
| City Index Academy offers educational courses, news and analysis as well as live webinars and seminars to support your trading |
| Able to connect account with charting and trading platform TradingView |
Table of Contents
- What Makes City Index Stand Out To Traders
- Trading Opportunities at City Index
- How to Sign Up For A City Index Trading Account
What Makes City Index Stand Out To Traders
City Index supports options, futures, CFD and margin trading in global markets. With City Index, you can trade forex, indices, shares, commodities and metals across the US, UK, Europe, Hong Kong, Japan and Australian markets.
City Index prides itself on its fast execution of trades. 99% of trades are executed within one second. City Index also allows traders to simplify their deal tickets with their ‘one-click trading’ mode. Together, these two functions allow traders to take advantage of fast-moving markets.
City Index’s trading platform is available on both desktop and mobile. The platform supports the industry-leading TradingView charting package, complete with over 80 custom indicators, drawing tools, and more to empower trades to trade through charts. On top of all this, you will have access to in-time news from Reuters to help you make informed trading decisions through the platform. Hence, it serves as an all-in-one platform where traders can both stay informed and trade their positions.
If you are new to CFD trading, City Index offers trading courses, guides, and more through City Index Academy. You’ll gain access to their regular webinars and seminars to learn more about trading. It is great for new traders who want to hone their understanding of trading before getting started, as well as for seasoned traders who want to improve their skills and discover more advanced trading strategies.
Trading Opportunities at City Index
City Index has competitive CFD trading commissions. At City index, you can trade CFDs for Singapore equities for as little as 0.08% in fees and US equities for as little as 1.5 cents per share.
You are also able to trade with leverage. The minimum margin for trading equities is 10%. Trading on margin spares you from fronting the entire cost of a trade. If you open a trade with a margin requirement of 10%, for just $1 you can open a position worth $10. This is on par with the margin requirements of other trading platforms in Singapore.
While City Index is not the cheapest trading platform for US equities, it is one of the cheapest options for trading CFDs for Australian, Hong Kong and Japanese equities.
The full details on City Index’s equities CFD commission fees as compared to some of its competitors are as follows:
Comparison Between City Index, IG Online Brokers and Saxo Markets
| City Index | IG Online Brokers | Saxo Markets Bronze Plan | |
|---|---|---|---|
| CFD Commissions | |||
| Singapore Shares | 0.08% | 0.10% | 0.08% |
| US Shares | 1.5 cents per share | 2 cents per share | 0.06% |
| UK Shares | 0.10% | 0.10% – 0.35% | 0.10% |
| European Shares | 0.10% | 0.10% | 0.10% – 0.50% |
| Australian Shares | 0.08% | 0.10% | 0.10% |
| Hong Kong Shares | 0.15% | 0.25% | 0.20% |
| Japanese Shares | 0.05% | 0.20% | 0.15% |
| * Accurate as of Jan 2024 | |||
One potential downside is that other CFD trading platforms, such as IG brokers, offer crypto trading, which City Index does not. If you are looking to gain exposure to this speculative asset, you will not be able to do so on City Index.
How to Sign Up For A City Index Trading Account
City Index offers two different types of accounts. Their CFD account allows you to trade FX, indices, shares, commodities and more. Their MetaTrader 4 (MT4) account, on the other hand, is a dedicated FX trading platform with more in-depth FX trading tools.
You can open both accounts simultaneously if you wish to do so.
City Index
Consider this if you are looking for a CFD trading platform with low fees and fast execution.
Pros
- Great for experienced CFD trader
- International CFDs available
Cons
- Not the best for inexperienced traders
Applying for an account with City Index is quick and easy.
You can apply now in a matter of minutes by completing our simple and secure online application form.
In order to start trading with City Index, you have to provide the following information:
- Full Name
- Date of Birth
- NRIC/Passport Number
- Country of Residence
- Gender
- Email Address
- Mobile Number
Read Also:
- Best Online Brokerages and Trading Platforms in Singapore
- Average Cost of Online Brokerages in Singapore
- How Options Work: A Basic Guide
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