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City Index
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- doug1910
- 3.00 star(s)
Good and bad
I have been using the platform for US Crude daily bets for the last 18months as they offer a low minimum stake and reasonable spread as I try out my strategies.
On the good side I have not experienced much slippage.
On the negative side the instrument is often not available online, it rolls to the new monthly contract later than most other platforms which can be confusing when using different charting software. Day Trades are not rolled as on some other platforms.
I have been using the platform for US Crude daily bets for the last 18months as they offer a low minimum stake and reasonable spread as I try out my strategies.
On the good side I have not experienced much slippage.
On the negative side the instrument is often not available online, it rolls to the new monthly contract later than most other platforms which can be confusing when using different charting software. Day Trades are not rolled as on some other platforms.
- AndyGbeach
- 1.00 star(s)
City index is a scam
Yes I concur with those who recognize that this broker is a scam. I was with GFT for about 4 years before they were bought out by Gain Capital, who then closed GFT and moved all their clients over to City Index. I was genuinely keen to give them a fair chance to keep up the good name of GFT. But I was scammed by exactly the same technique too-suddenly you get platform freeze (I was using their proprietary, stand-alone software platform not the web-based) or something similar when you try to close out a position. I was losing on the day, down about 30 points or something trading the Dow Jones CFD, and then took a quick trade which kited up 70 points: great, take some profits! But not so with City. The platform just didn't work. Just refused to execute the order and close out the position. I didn't put any real money on after that, cut back my positions and was wary. I have never seen anything like that before in 10 years of trading. I think about two or maybe three more times over the next week or two I got the same kind of unresponsive platform problem at times that were always beneficial for them. Never had any trouble closing out a losing position. Of course I just stopped trading with them and opened an account with another broker. I cannot see how they can stay in business like this. I think they are genuine scammers. What a pity! GFT was an excellent broker with a great, stable, but unsophisticated program. That's okay because I don't use sophisticated technical indicators anyway. I cannot believe that the mistakes that I witnessed in the 2 weeks I traded with City can be put down to genuine technical errors. It must be planned. Stay away from them.
Yes I concur with those who recognize that this broker is a scam. I was with GFT for about 4 years before they were bought out by Gain Capital, who then closed GFT and moved all their clients over to City Index. I was genuinely keen to give them a fair chance to keep up the good name of GFT. But I was scammed by exactly the same technique too-suddenly you get platform freeze (I was using their proprietary, stand-alone software platform not the web-based) or something similar when you try to close out a position. I was losing on the day, down about 30 points or something trading the Dow Jones CFD, and then took a quick trade which kited up 70 points: great, take some profits! But not so with City. The platform just didn't work. Just refused to execute the order and close out the position. I didn't put any real money on after that, cut back my positions and was wary. I have never seen anything like that before in 10 years of trading. I think about two or maybe three more times over the next week or two I got the same kind of unresponsive platform problem at times that were always beneficial for them. Never had any trouble closing out a losing position. Of course I just stopped trading with them and opened an account with another broker. I cannot see how they can stay in business like this. I think they are genuine scammers. What a pity! GFT was an excellent broker with a great, stable, but unsophisticated program. That's okay because I don't use sophisticated technical indicators anyway. I cannot believe that the mistakes that I witnessed in the 2 weeks I traded with City can be put down to genuine technical errors. It must be planned. Stay away from them.
- chopperman
- 1.00 star(s)
City Index spelt with an "SH" - Scum of the highest order!
Dear Mr XXXX
30 Day Closure Notice.
In accordance with clause 30.4 of our General Terms, we hereby give you 30 days written notice of our intention to close your Account(s) with us. You will only be entitled to close any Open Positions during this period as we reserve the right to refuse to allow you to enter into any further Trades or Orders, which may lead to you holding further Open Positions.
If open positions remain on your Account as at 24.11.2016 they will be closed. You will be able to close these positions of your own volition, at any point up until the time of your Account closure.
If you wish to close your Account(s) before the 30 day notice period ends, you may do so in accordance with clause 30.5 of our General Terms by notifying us in writing.
Please call our Client Management Team on 0845 355 0801should you have any outstanding balances that need to be returned to you.
Yours Sincerely,
Client Management Team
Dear Mr XXXX
30 Day Closure Notice.
In accordance with clause 30.4 of our General Terms, we hereby give you 30 days written notice of our intention to close your Account(s) with us. You will only be entitled to close any Open Positions during this period as we reserve the right to refuse to allow you to enter into any further Trades or Orders, which may lead to you holding further Open Positions.
If open positions remain on your Account as at 24.11.2016 they will be closed. You will be able to close these positions of your own volition, at any point up until the time of your Account closure.
If you wish to close your Account(s) before the 30 day notice period ends, you may do so in accordance with clause 30.5 of our General Terms by notifying us in writing.
Please call our Client Management Team on 0845 355 0801should you have any outstanding balances that need to be returned to you.
Yours Sincerely,
Client Management Team
- tim3
- 3.00 star(s)
Great Dow spread!
I have used them as my main broker for over a year mainly because of their low Dow spread of 1 point in market hours.
Great platform most of the time (see below) fast and easy to use.
Poor/basic charts (I get charts elsewhere) and when the market move fast platform strugles to cope.
Update 14/5/2012 Due to continued platform problems have currently stopped trading with them
I have used them as my main broker for over a year mainly because of their low Dow spread of 1 point in market hours.
Great platform most of the time (see below) fast and easy to use.
Poor/basic charts (I get charts elsewhere) and when the market move fast platform strugles to cope.
Update 14/5/2012 Due to continued platform problems have currently stopped trading with them
- satyakasindula
- 1.00 star(s)
BEST ADVISE: BE CAREFUL WITH CITYINDEX..IF NOT READY LOOSE!
Until yesterday I was buying and selling 200 and 100 and made money. Today to open 20 they do re quote at higher price ..Today I have a trade that I wanted to sell at 380 and with re quote I have got 220..a trade with 224 in profit closed at -12. ..If you are losing they will gain anyway but if you are making money..they want make money of you so that you lose!
Until yesterday I was buying and selling 200 and 100 and made money. Today to open 20 they do re quote at higher price ..Today I have a trade that I wanted to sell at 380 and with re quote I have got 220..a trade with 224 in profit closed at -12. ..If you are losing they will gain anyway but if you are making money..they want make money of you so that you lose!
- JackThompson
- 5.00 star(s)
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.
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.