City Index Review 2025: Trading Accounts & Withdrawals to Explore

City Index	⭐⭐⭐
Regulations	FCA
Tradable Assets	Indices, Shares, Forex, Gold and Silver, Commodities, Futures trading
Minimum Deposit	$0
Live Accounts	Standard Account, MT4 Account, Corporate Account
Demo Account	Yes
Account Opening	1-3 Business Days
Max. Leverage	30:1 for CFDs on major pairs
Trading Platform	Mobile app, Web Trader, TradingView, MT4

About City Index

Founded in 1983, City Index is a long-established online trading platform specializing in CFDs on an extensive range of markets covering Indices, Shares, Forex, Gold & Silver, Commodities , spread betting (for UK clients only) , future trading. City Index features comparably low forex trading fees, simple and quick account opening process, ideal for retail investors to experience trading process here. However, this broker does not support social trading and provides limited cryptocurrency choices.

✅Where City Index Shines

• Being FCA-regulated, City Index operates under a strict regulatory framework
• Offering guaranteed stop-loss orders for a premium, providing traders with a higher level of protection against potential losses.
• A series of robust and user-friendly platform options, including mobile app, webtrader, Tradingview and MT4
• Rich and solid news and analysis materials
• Comparanly low forex trading costs compared with its competitors
• Fast and easy account opening process
• Low entry barrier, $0 to start real trading
• No deposit or withdrawal fee charged

❌Where City Index Falls Short

• Its primary focus on CFDs and spread betting carries inherent risks
• Cryptocurrency trading currently available to Australian clients only
• Not supporting social trading features
• High stock CFD fees
• Spreadbetting exclusive to investors in the UK
• Withdrawal problems exist

Is City Index Legit?

City Index is a trading brand name operated by the company - StoneX Financial Ltd, and it is regulated by the FCA in the UK under license number 446717. Besides, City Index is also a member of the Financial Services Compensation Scheme (FSCS), which means clients may be compensated up to £85,000 by the FSCS in the event of liquidation.

Like many regulated forex brokers, City Index also promises that all client funds are kept in segregated accounts separate from City Index funds.

City Index Account Review

City Index Account Types

City Index has set up three account options targeting diffrerent client types: Standard, MT4, and Corporate.

The Standard account allows traders to use the proprietary Web Trader platform, renowned for its advanced tools and smooth integration with TradingView charting. This Standard account tend to the first choices of regular investors where spreads typically start as low as 0.8 points, generally commission-free.

Another is the MT4 account, which provides access to the popular MetaTrader 4 platform, expanding trading opportunities beyond forex to include other asset classes. This account features lower spreads than the Standard account, starting as low as 0.5 points, with commissions applicable only for share market trades.

For both individual and institutional investors, the corporate account enables traders to trade on extensive markets, over 13,500 instruments. Also, City Index Corporate account allows multi-user access.

How to open an account with City Index?

Step 1: Visit the City Index website and locate the “Open Account” button in the upper right corner of the homepage. Upon clicking, you'll be directed to a registration page where you'll need to provide personal information including your email address, country of residence, desired username, and phone number. You'll also need to select your preferred trading product - either CFD trading or spread betting.

Step 2: After completing the initial registration, you'll need to verify your identity by providing official documentation. This includes submitting a valid government-issued photo ID (such as a passport, driver's license, or national identity card) along with proof of your residential address. For address verification, you can use a recent utility bill or bank statement dated within the last three months.

Step 3: Once you've submitted the required documentation, the City Index team will promptly review your application. The approval process typically begins as soon as they receive your complete and valid documentation. During this final step, you have the flexibility to choose between opening a CFD trading account, a Spreadbetting account, or both simultaneously, depending on your trading preferences.

City Index Demo Accounts

City Index offers demo trading accounts with £10,000 in virtual funds, allowing traders to practice their skills for a 12-week period. While the demo account isn't permanent, traders can apply for a new one once the initial period expires.

When compared to competitors like Axi and Capital.com, City Index's demo account features have some limitations. The validity period is shorter than Capital.com's offering, and the virtual fund amount falls below what Axi provides. However, City Index distinguishes itself by providing demo traders access to over 13,500 markets, which is a notable advantage for those looking to explore a wide range of trading opportunities.

Broker
Account Duration	12 Weeks	30 Days	No duration ( as long as it is active)
Amount of Virtual Funds	£10,000	$50,000	$1,000
Unlimited	No	Yes	No

How to open a demo account with City Index?

Opening a demo account on the City Index platform is super simple and easy, only 3 steps reqired.

Step 1: Click the “ Open a demo account” on the City Index Webpage, and fill out some details, including Full Name, Email, Your residence of Country, and Phone Number.

Step 2: Then click the “Log in to Web Platform” button, and input your emal address and password again to login to City Index Webtrader.

Step 3: Next, demo trading screen appears. And you can find that the available balance is £10,000. At this point, you can start demo trading on the City Index platform to test its trading environment and practice your trading skills.

City Index Withdrawals

City Index Withdrawal Methods

City Index offers 3 major payment methods for deposits and withdrawals only: Debit Cards (including Mastercard, Maestro, and Electron), Credit Cards (Visa and Mastercard), and bank transfers. While withdrawals are free of charge, they do require a minimum amount of £100, which is considered somewhat high for some traders.

The processing time for withdrawals varies depending on the chosen method. Debit and credit card withdrawals are typically faster, with funds usually reaching your bank account within one business day. Bank transfers, on the other hand, generally take longer, requiring 3-5 business days for the funds to be processed and transferred to your account.

How to withdraw funds from the City Index Platform?

City Index boasts that withdrawing funds on this platform is super simple and fast, which requires three steps only:

1. Access Your Account Area Sign in to your City Index trading platform and navigate to the account section. You'll find this easily accessible from the main dashboard.
2. Initiate Your Withdrawal From the account area, select your preferred withdrawal method and specify the amount you'd like to withdraw. Make sure you have sufficient available funds in your account before proceeding.
3. Complete the Process Submit your withdrawal request and wait for approval from the City Index team. Once approved, your funds will be processed according to your chosen payment method's timeframe.

While City Index excels in providing a smooth withdrawal process, they do have a limited selection of payment methods. Currently, you won't find options like PayPal, Skrill, Neteller, or FasaPay on the platform. However, what they lack in payment variety, they make up for efficiency and ease of use.

Some exposures on City Index Withdrawals

Despite its adverstised ease of withdrawals, WikiFX has collected some withdrawal exposure cases about the City Index, all telling a story that withdrawals here were super difficult. Here I will pick two of these cases to display this online trading platform's withdrawal problems:

Case 1: Hard-earned Money

“ Around December 20, 2022, I entered the gold-trading platform through a friend and added a customer service manager called cityindrx who is the customer service manager, and started depositing through her. When withdrawing money, they deny the withdrawals by various reasons and deceving me to depopsit more. Since, I always want my money back, I got scammed more and more and cannot withdraw at the end.”

A Hong Kong resident reported being introduced to the City Index platform and subsequently making deposits. However, upon attempting a withdrawal, the customer support manager he contacted refused the request and instead solicited further deposits. Feeling scammed, the victim shared his experience online, providing supporting evidence.

Case 2: After inducing deposit, he refused to give the money for various reasons

“Starting from Christmas Eve and Christmas, they used the company‘s festival as an excuse to charge gold and anti-gold. The four-day event time was close to New Year’s Day. The reason was that the spread was lowered, the recharge was anti-money, and other reasons. During the event, the funds in the account suddenly disappeared at the end of the event. The double said that the security deposit exceeds the limit and cannot be withdrawn, and the account is locked and needs to be recharged and unsealed. After recharging, the withdrawal is said to be too large and detained by the Hong Kong Monetary Authority. Individuals need to pay personal income tax to get into the account”

A user reported that funds in their City Index account vanished. City Index then claimed the required security deposit had not been met, locking the account and demanding a recharge to unlock it. Following the recharge, the user was informed that the withdrawal amount was too large, triggering a supposed detention by the Hong Kong Monetary Authority, which required the user to pay personal income tax to regain access to their account.

These two cases are among numerous reports of withdrawal problems with City Index, suggesting systemic issues with the platform's withdrawal process. Despite claims of simple and fast withdrawals, user experiences often contradict this. This discrepancy between advertised ease and actual difficulties is a common characteristic among some forex brokers. Investors are suggested to learn more about the reality of a broker's withdrawal process, instead of listening to this broker's promitional words.

City Index Review on Trading Platforms

City Index offers its trading services through 3 platforms: Web Trader (CFD and spreadbetting account) , TradingView (CFD account) , and MT4 (MT4 trading account). Each platform is accessible via web, mobile, and desktop, allowing traders flexibility in how they access their accounts. While all platforms offer trading across indices, shares, FX, metals, and commodities, they differ in their features and tools. A CFD account is required for trading on all three platforms.

Web Trader is City Index's proprietary platform, offering access to 13,500 markets and integrated Performance Analytics, which helps traders track and analyze their trading. It boasts an exceptional charting experience, an active social trading community, asset screeners, financial reports, and in-platform price alerts. Web Trader also allows hedging and offers various order types and custom watchlists.

TradingView is known for its advanced charting capabilities. City Index integrates TradingView, giving traders access to customizable workspaces, over 10 chart types, one-click dealing through charts, and a vast library of technical indicators and drawing tools. Like Web Trader, TradingView also offers various order types, custom watchlists, and hedging capabilities. It also provides access to Pine Script, a language for developing custom indicators and strategies, and market screeners.

MT4 is a widely used third-party platform. City Index provides access to standard MT4 accounts, allowing traders to utilize Expert Advisors (EAs) and access the MetaTrader Market. MT4 offers a great range of order types, custom watchlists, and hedging capabilities. Through MT4, traders can access FX Blue, a suite of apps with custom indicators and EAs. Notably, MT4 does not offer a third-party bridge and EA hosting is available.

The Bottom Line

City Index, an established and FCA-regulated trading platform, serves both retail and institutional investors. The platform offers a user-friendly trading environment. While it offers competitive forex trading fees, its higher stock CFD fees and potential withdrawal issues should be considered more. Anyway,trading decisions should be based on you own based on know well potential risk involved.