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City Index

Reviews 2.22 star(s) 27 reviews

Fast progress

Impressed with the fast service and fast payment of City Index. Been trading with them for 7 years, it's been a genuine and progressive experience and they've shown considerable improvement over the last few years.
top quality

I have been with city index for 5 years now - exceptional service throughout. could not recommend higher
YES INDEED CITY INDEX BROKERAGE IS A SCAM

I just closed my account with City Index after it became very obvious that they were scamimng me. As many people have said, their platform freezes or becomes sticky the moment you try to close a winning trade. The platform may freeze or continously process the instruction while you watch the price change in the background & by the time it finally allows your instruction to go ahead, you get less than you should have.
They blamed my computer & flash player when I inquired about this. In fact, they claimed not to have a slight clue that such a problem ever occured, but it is obvious from other comments here that this is not a new problem with thier platform.
In my case, I use my computer for other big software based applications which require a high speed & fast machine - and which i have & keep updated regualry. There was no way my computer could be freezing with such a small prgram.
After I did some simple tests, it turned out it was indeed only their Platform which was freezing & sticking. This is deliberate so traders dont get too much profit. Remember that City Index is not ECN/STP. They are Market Makers & traders actually trade directly with City Index computers & staff. It is almost impossible for some traders to make ANY profit.
There are some here who are saying they have not had any problem with City Index but it simply because they have to let some traders win so that they look legit otherwise the majority of their clienst are being scammed. Some poor traders think they are trading on the open market & yet they will just be giving City Index their money.
A City Index Accout is nothing but a Demo account with money invloved. Your trades never leave their computers. When you lose, they make a profit & when you win, they make a loss. How can you expect them to make you rich at their own expense? Might as well spend the day in a betting shop because there is no diffecence.
Probably the best spread-betting firm anywhere.

*** UPDATE Nov 2015: Signs of deterioration. Support forum deserted, tech support sparse, software improvements patchy ( the best improvement I've seen in ages is showing p&l in pips on the Android app ), parts of website content 5 months out of date; important improvements not being even promised. No-one seems to care or know what is going on. ****


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I don't understand why some of these reviews are so bad. To me this is by far the best spreadbetting firm anywhere. I've been using them for a couple years now for day-trading ( many trades per day ), on a 5min chart. I trade only the S&P 500 DAILY and the the trade prices are perfect. I have a separate data feed for my other software and (bearing in mind the .15 extra spead) I have never seen a discrepancy between the CityIndex price and the global price, except that for some bizarre reason CityIndex ( and I assume many other SB firms) use a different rollover-date from the one agreed by the global market.
Anyway, the spead on the global e-mini S&P 500 is normally .25 and CityIndex add .15 to that, resulting in a spread of .4, which I think is fixed. So, the spread is probably the tightest in the industry and it seems to be fixed. I generally avoid trading around important news ( I don't think I can compete with speed of the computers designed to win with news trading), but I really doubt that splipage with CityIndex would be much worse than even with a DMA broker around the same location relative to the exchange. And there is a setting to limit the allowed slipage (but you may miss the trade if you don't allow any slippage in a fast moving market). During and after the news the price-candles are correct relative to the global prices from my other feed, so I really think the data is sound.
Their trading platforms are not bad, but thirteen clicks to place a bracketed order is way too many for me, so I very much prefer NinjaTrader for actual trading and finding set-ups.
They also publish an API, which I'm planning to use soon.
So, in short I would say that at least for the US SP 500 Daily Future, they are the best spread betting service by far.

PS. If someone at CI reads this, PLEASE get the damn rollover-dates for the front-month right.
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