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City Index review: Forex and CFD trading account

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City Index CFD

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General information only. All forms of investments (and in particular, trading CFDs, commodities and forex) carry significant risk, including the risk of losing more than the invested amounts, market volatility and liquidity risks. Past performance is no guarantee of future results. Such activities are not suitable for most investors.

Our verdict

Access over 4,500 financial markets via CFDs, including 84 forex currency pairs.

City Index is a CFD broker that will appeal to most traders. Its cheap trading fees, low minimum deposits, no withdrawal fees and ease of depositing funds all make for ease of use.

A range of educational ideas as well as trading tips helps investors get started. City Index offers a wide variety of commodity and currency pairs, which potentially appeals to niche investors.


  • 25 plus commodities and 84 currency pairs
  • The option of MetaTrader 4 or City Index's platform
  • Education and market analysis
  • Demo account option


  • CFD trading is risky
  • You cannot trade shares or currency directly (CFDs only)

In this guide

  • Our verdict
  • Details
    • Product details
  • Frequently asked questions
  • Your reviews
  • Ask a question

City Index, is a CFD and forex trading platform. The broker is known for having a strong selection of advanced trading tools that are integrated with its research, an extensive range of tradable markets and for providing its customers with one of the better mobile trading apps that are going around.

One of its stronger perks is it offers investors real time feedback about their trades, with the aim of helping traders remove emotion form the situation and help make more confident trading decisions.


Product details

Type of broker Online
Available markets Forex, commodities, cryptocurrency, stock CFDs, index CFDs
Minimum Spreads for Major Currencies 0.5 - 1.22 pips
Commission $0
Minimum opening balance $0
Minimum Trade Size 0.01 lots
Leverage 30:1
Platforms MetaTrader 4
At Pro
Advantage Web
Support Live chat, email, telephone
More Info

Regulated by ASIC in Australia, City Index offer both proprietary and MT4 trading platforms, advanced tools and fairly competitive spreads. They're known for their comprehensive customer service and transparent market prices.

About City Index

City Index is a global CFD provider that is part of the NASDAQ listed StoneX group. The NASDAQ listed StoneX (SNEX). operates in six areas: commercial hedging, global payments, securities, physical commodities, foreign exchange and clearing and execution services.

Starting in the United Kingdom in 1983, the company now runs operations out London, Sydney, Singapore and Shanghai. The City Index brand itself has its own office based in Sydney and the company is regulated under ASIC.

Overall, City Index is renowned for being one of the largest retail CFD forex brokers in the world, with a track record of service and delivery.

What are the key features of City Index?

It's the sheer size and brand name of City Index that puts the company at the top of a forex or CFD trader's mind. Their trading education, news and choice of markets that clients can trade are key features worth noting.

Educational resources

Access free video tutorials and trading examples to improve your skills. The tool Recognia is a leader in providing premium analysis and trade recommendations and the AT Pro platform offers over 100 automatic trading strategies.

Market News

Just like their trading education section, City Index's market news is an excellent resource. With a team of dedicated market analysts posting daily blogs covering both fundamental and technical analysis, you can always stay up to date with what's happening in global markets.

Regulated in Australia

City Index is fully regulated by the Australian Securities and Investment Commission (ASIC). Access fast deposits and withdrawals through local banks and be assured that there's a course of action that you can take if something does go wrong.

Trade on multiple platforms and devices

You have multiple options when it comes to how you trade with City Index. With a selection of desktop, cloud and mobile based apps available, you're never far from your City Index account. Access chart live streaming, full access to markets and live updates at home or on the go.

Trade forex and other CFDs your way

Use more than 80 technical indicators to help identify trends and trading opportunities. Trade your strategy using a number of order types available including stop, limit, market, OCO (one cancels other) and trailing stop orders. With City Index, you're free to trade your strategy of choice, in your own way.

What markets can I trade with City Index?

As a City Index trader, you'll have access to the following CFD markets. All assets available on City Index are traded as CFDs which means you never own the underlying assets.

  • Forex. Choose from 84 forex currency pairs and trade them on the City Index platform or via MetaTrader 4 (MT4).
  • Shares. Gain access to over 4,500 global shares including names such as Telstra and Apple.
  • Commodities. Trade over 25 global commodities markets such as gold, silver, natural gas and even wheat. If there's a market for the commodity, then you can trade it on your City Index account.
  • Indices. Trade 21 global stock market indices with spreads as tight as 1 pip. Whether it's the local Australia 200, the US S&P 500 or even the German DAX 30, the choice is there.
  • Other markets. As well as the standard markets listed above, a City Index account gives you the ability to trade options, interest rates and even bond markets.
  • Cryptocurrencies. The latest markets that City Index gives you the ability to trade, are cryptocurrencies. Find and trade high volatility opportunities across a range of US denominated crypto markets.

What trading platforms are available with City Index?

You can access your account anywhere, anytime over desktop and mobile using a variety of platforms.

  • Advantage Web. A browser-based trading platform with customisable screen layouts, which lets you create watch lists, view detailed charts, and track prices. Advantage Web is compatible with Windows and Mac operating systems and most browsers, as well as iOS and Android smartphones.
  • AT Pro. A desktop platform for advanced traders which provides powerful analysis tools, auto-trading strategies, advanced charting package and superior speed and efficiency.
  • MetaTrader 4 (MT4). City Index forex traders get exclusive access to MT4 Enhanced features such as customisable leverage and price tolerance for better trades on a volatile market. City Index traders get access to the popular trading platform MT4 on tablet and mobile devices. MT4 is compatible with iOS, Android and Blackberry iOS smartphones, Android and Apple tablets and Windows desktop computers running Windows XP or later operating systems.
  • Web Trader. Customise this platform to suit your individual trading style, with the ability to design the platform to your preferences. Access advanced, custom indicators and advanced trading tools with high-level risk management options. This platform is powered by HTML5 for fast execution and powerful charts.

What account types are available with City Index?

  • Personal account. The account to pick if you're an individual trader.
  • Self-Managed Super Fund (SMSF) account. Choose this if you're managing your own super fund. When you apply for a Self-Managed Super Fund CFD trading account with City Index, you're going to need all the relevant supporting documentation.
  • Corporate and Trust account. If you're a corporation or have a trust that you're trading on the behalf of then this is the account type you're going to choose. Once again, you're going to need all of the relevant documentation that supports this.
  • Joint account. The account for you if you're trading with your spouse or business partner. The documentation required is going to have to be provided by both parties who will have access to the account.

What customer support options are available from City Index?

Access customer service 24 hours a day, 5 days a week from their local offices in Australia. Whether you have a question about your trading platform or a particular trade that has been executed on your account, City Index is known for being able to offer meaningful support when called upon.

  • Live chat. Live chat is the best support tool a broker can offer. If you need a fast answer to a simple question, then the support team at City Index can answer it here.
  • Email. You can email
  • Telephone. The City Index office phone number is 1800 354 182.

What are City Index's spreads, margins and commissions?

The spread is the difference between the buy and sell price on a trade. City Index offers both fixed and variable spreads. The spread varies between markets, but as an example, the minimum spread on the forex AUD and US currency pair is 0.5, while the average is listed as 0.73. Use a third party spread comparison tool, or alternatively click the open account button above and open a City Index demo account test spreads under live market conditions.

Margin on the other hand, is the amount of money needed in your account, for you to open a trade. City Index margins start from 0.5%. The default leverage is 30:1. But, you are able to adjust your leverage ratio up or down depending on how comfortable you are with risk.

All CFDs are commission-free, except share market CFDs which vary. The commission charged on Australian share market CFDs is 0.08% (with a $5 minimum).

What are the account funding options with City Index?

  • Card deposits. City Index allows Mastercard and Visa credit and debit options. Be careful with credit card funding because while City Index may not charge you any fees, your bank may charge you for a cash advance.
  • Bank deposit and electronic funds transfer. This includes BPAY and is a fee free account funding and withdrawal option.

Note that there is no charge from City Index to fund your account via debit card and, so long as the names match, you can register up to 3 cards on your account.

Is City Index Safe?

City Index is a global broker with a long track record of being a safe broker.

Being a global company it is subjected to different corporate regulators.

City Index is regulated by top-tier government bodies including the Australian Securities and Investment Commission (ASIC), UK Financial Conduct Authority (FCA) and the Monetary Authority of Singapore (MAS).

City Index's parent company Stone X Group is traded on the NASDAQ which adds to the level of regulation the company faces.

With the company facing numerous regulators, investors should feel confident trading with City Index

How do I open an account with City Index?

Follow the following steps to open a City Index forex or CFD account:

  • Step 1 Fill out an application form online. You can do this by clicking the "Go to site" button on this page.
  • Step 2 You need to enter your name, address, date of birth and contact information.
  • Step 3 Verify your identity using your Medicare card, passport or driver's licence.
  • Step 4 You will need to provide some information about your trading experience.
  • Step 5 Log in to your account and add funds via credit card, debit card, BPAY or wire transfer.

Alternatively, you can download a demo trading account by entering your name, email and phone number. You can use the demo account for 14 days to practice forex trading with $10,000 virtual funds. You can re-apply after 14 days if you want to continue trading using the demo account.

Frequently asked questions

This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider the Product Disclosure Statement and Target Market Determination for the product on the provider's website. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.

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