City Index - terrible service, execution and prices
Dear Everyone,
I am a professional and recently started trading with City Index and to my horror, I cannot believe the way the company deals with clients and positions.
I am given conflicting information of margin calls and then my position is forced closed at very poor prices.
Their trading application is flawed and is greyed out so you cannnot trade and the office in Dubai is manned by one person and their offie telephone no isnt always working.
They advised me that they didnt want to be regulated by the DFSA and be located in the DIFC as the cost of regulation is too high and and rent of an offie in the DIFC is much more than what tehy pay now.
So they are regulated by the Central bank of the UAE.
The initial response I have had from them internally to my complaint is very poor and they stand by their trading desks decision, but this is something I will not accept at any cost.
I have been trading long enough to know when it is unfair.
I have seen considerable comments all over the web about how they execute orders and the dissatisfaction, so I would like to hear from everyone so that we can all get together and take some action.
I welcome anyone who feels they have been treated badly by City Index (you can be in Dubai, UK or anywhere) and we can discuss where to launch a formal complaint with the regulators or even through the courts as this sort of actions from a regulated entity cant be accepted.
My email is
[email protected]
If enough of us get together and standup to them, they wont be able to do this and the courts and regulators will be very interested to see why so pany people are complaining about a reggulated trading company.
Thank you everyone.
MA