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City Index was this year named ‘Best Online Spread betting Service’ by the Money AM Online Finance Awards. City Index’s platform has been part of the market for over twenty five years and is one of the UK’s most popular trading platforms. The company prides itself on tight spreads and low IMRs that truly rival their competitors.
With a city Index account you have access to over 10,000 markets across the globe. You can spread trade on anything from commodities like soy beans and sugar, to bonds and interest rates. You can also choose to access spreads by sector, allowing a focus on areas you have experience or interest in.
City Index is primarily browser based, which allows you to access your spread betting account wherever you are. You don’t need to download any software to get started; all you need is an internet connection. You can also make small trades via telephone, as long as your minimum stake exceeds £0.50. For up to date information on the site you can also access their blog ‘City Wise’ or follow them on Twitter (@City_Wise) to keep up to date with the company’s latest news and offers. If you prefer to keep up to date with your spread trading when you’re away from your desk, you can check on your account by downloading their award winning mobile trading platform onto your iPhone, Blackberry or Android device.
The variety and sheer size of the markets available here is one of the sites greatest achievements. The availability of help is also very impressive. However the ability to set up future spreads and set automatic guaranteed closures on your trades, is the real winning part of the site. You can easily hedge your positions in underlying markets in various time periods and at varying prices. The optional day trader account will also appeal to seasoned day traders and keep them interested where other sites have failed. It’s an inspired addition to the City index spread trading platform.
The rolling news feature is a particularly welcome addition and goes a long way to inform your spread trading decisions. The site also offers comprehensive training provisions. The training system is also incentive based; completing certain online seminars can reward you with a free £25 per point bet. These training features can be accessed by account and non account holders alike. There’s an intensive four-week Learn to trade programme available to new account holders too, City index provides you with a reduced risk environment to trade in, it’s much like the features of its free demo account but you have the opportunity to make (and lose) money.
City Index currently has a training incentive in place. When you deposit £1000 at the opening of your account they will credit you with £250 to trade as you please. This is rather generous when you think of it as an instant 25% return on your initial investment into your spread betting account.
- The social media updates.
- The market availability.
- The current special offers available.
- The Visa and Mastercard deposit commission.
The site itself is practically perfect. The only problem comes from the way deposits are made into your account. City Index has long removed the option to add funds from credit, and now only accept solid funds from you. There is nothing wrong with this and in fact it’s a safer way for all involved to spread trade. The problem is that all Mastercard and Visa payments are met with a 1.5% commission charge. This may seem like a low figure, but when you consider that the majority of cards in the UK are Visa, this will no doubt infuriate all of those losing out whenever they make a deposit.
- Wiki: City Index