City Index Review

Note: We do not particularly recommend City Index as this time. Use Ayondo

CityIndex has been around for nearly 25 years and offers a good range of spread betting opportunities across a large number of markets. They have been on the internet for over 8 years now, but still permit small trades by telephone.

WHAT CityIndex SAY:

– Segregated funds. They segregate your cash so it is always safe and secure (they say not everyone does this, but I am unaware of any spreadbetting company that doesn’t).

– Clear pricing policy. They are committed to providing transparency in the way they price their instruments.

– Low rates of funding. Cheap to maintain positions (e.g. rolling over).

– They classify most clients as private customers, giving the maximum amount of protection under the regulatory law.

You can spread bet from as low as 25p per point for the first four weeks from the day your first fund your City Index trading account. The lower stake sizes automatically apply to your financial trading account when you open a spread betting account with City Index. After the four weeks initial period, the minimum trade sizes will move to the standard 50 pence per point minimum sizes.

Most of these seem common sense benefits, but they are all a little vague, and done by every other spreadbetting company without thought. All spreadbetting firms will classify clients as private customers unless you can show that you are a sophisticated investor. They seem to think this is a benefit – for most people it will be, but private clients pay more overall as they are protected more.

WHAT CITYINDEX REVIEW SAYS:

– Free seminars are available throughout the year. Attend one and you might even get a free £25 per point vodafone bet.

– Free simulator similar to the one by ETX Capital. Decent enough to get used to their platform but remember it’s nothing like using real money.

– iPhone Application for monitoring markets on the move and dealing on the go.

– Very wide choice of markets, though better commodity range found elsewhere.

City Index offers new clients a free four-week course to build their financial spread betting and CFD trading skills at their own pace. The ‘Learn to Trade’ Programme allows participants to access exclusive minimum deal sizes of 25p per point for four weeks from the day they first fund their account.

Mobile Spread Betting: Interestingly City Index was the first provider to have launched a trading app for the iPhone in 2009 (today, they also offer an app for Android-powered handsets). In 2011 the company won an award at MoneyAM Online Finance Awards for being the Best Mobile Trading Platform, voted for by the readership of MoneyAM. The mobile app allows users to trade spread bets on some 12,000 markets. They can also use City Trading to place orders, check price movements and research trades. The real-time news and tick-by-tick charts means that you can also do your research whilst on the move as well.

CITYINDEX REVIEW VERDICT: This is not a site for newcomers even though they seem to be courting beginners by offering free introduction seminars and free bets. The seminars are supposed to be the best around and they come with free goodies and an open bar, so might be worth popping along. The minimum £3 per point stake which is activated after a 4 week trading academy (where you can trade as little as 25p) means they only really welcome more experienced punters. However, the site is fairly user-friendly and is worth a look just to go to one of their seminars and get that free bet!