City Index Review 2021

I have just created a demo account on City Index. I am quite a beginner, and it is important for me to check if my knowledge of trading is enough, and how it all works in practice. Not bad so far. There are a lot of currency pairs, stocks, CFDs. I don't know how to use stocks or CFDs yet, but I want to learn in the future. Right now I consider opening a real account. It's just that there are a lot of brokers out there, and they have lower deposits… I'll test a couple more companies, compare the potential income, and then I'll make a final decision.

I've heard a lot about the record number of markets in City Index, its interesting spreads, bonuses, and useful services like news from Reuters. But the minimum deposit is very high, so I could not decide whether it’s wise to create an account here for a long time. The main advantage — there are no multiple accounts, just one. This means that the trading conditions are the same for everyone, and you, in fact, decide what the spread will be. The presence of the demo also is a big plus, even if it works mainly with currency pairs. I'm still being cautious, I just want to recapture the deposit and start real trading first, and then we'll see if the game is worth the candle.

I was recommended to City Index broker by a friend, also a trader with many years of experience. Before that, I also heard that there are a lot of markets here. I tried it, and it turned out that the broker gives access to 12 thousand markets, which is already a record among brokers. Accordingly, the choice of tools here is indecently large. The spread can be selected as either floating or fixed. I am ok with floating, I know which assets to trade to make a profit. For amateurs, I recommend setting a fixed spread, because it is easy to get lost with a large number of assets, and buy not the most liquid or profitable instruments.

It seems to me that the first desire that any trader has after creating an account in City Index is the desire to recapture the minimum deposit. I can’t say that it is very high, there are brokers where the minimum deposit is $500, or even $1000. I think this amount is justified, especially taking into account the trading assets, of which there are a lot here.
For those who have never traded before, I recommend that you first work with simpler brokers. Entering the markets for a trader without experience is almost the same as letting a person who does not know how to manage at least a boat go to sea. In other words, the newcomers to City Index should be prepared for money loss. But the pros will earn money quite easily.

I do not know why everyone says that City Index stands out from other brokers. Many markets? It sounds attractive, but not everyone needs access to so many assets. A deposit? There are good brokers with a lower depot. And the verification here is long. Of course, low spreads are a main perk, but for me this is not the only criterion. I think I will return to my old broker for now, and I will give City Index a chance only if I want to expand the arsenal of my working assets. For now this choice is irrelevant for me.

I do not agree with all the praises given to City Index. There are pros and cons in everything, and City Index is not an exception. Everyone here has the same trading conditions, a lot of assets, but also there is a high deposit and no development here. It was important to me that there were services for copying trades and fixed spreads. Spreads suit me perfectly here, but I copy the deals in other companies. Let's see what a month of trading will cost me here, and whether there is a reason to stay.

City Index is a good option for active investors. There are a lot of assets, you just need to look for and invest in a long-term plan. It will be difficult for lazy investors, because there are no managed accounts, PAMMs, etc. I use another trusted broker for active trading, and see the result there. Here I have a better result on investments, so I focus on them.