To avoid pushes, sportsbooks often set half-point spreads, like -6.5 or -7.5, making it less likely for the final score to hit the exact margin. We make every effort to ensure that all the information on this site is accurate but you should also verify the information with the respective service provider and review the information provided. If you are unsure then you should seek independent professional advice before you apply or commit to any product application or plan. The only account type needing more information to gain capital is the professional account, which we feel is good. Whilst there isn’t a minimum deposit, City Index does recommend that those funding a new account put at least £100 towards it to ensure their first trade has enough to be successfully covered.

Ultimately, each trader must weigh the pros and cons themselves and choose what is right for them. Use the calculator below to compare City Index’s trading costs with competitors such as Pepperstone, Eightcap and CMC Markets, adjusting for trade size, currency pair, and base currency. Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines. Verification can help ensure real people are writing the reviews you read on Trustpilot. Customer satisfaction is our top priority, and we are thrilled that you enjoyed your experience.

Money Line

For this exercise, we used 6 major currency pairs and then averaged the spread result. By doing this we hoped to nullify variations in better and worse-performing pairs by each broker. Any offers or odds listed in this article are correct at the time of publication but are subject to change. When a team fails to cover the spread, it means they didn’t meet the expectations set by the oddsmakers. For example, if the underdog has a +7 spread but ends up losing by 14 points, they’ve missed the mark, and anyone who bet on them to cover loses the wager.

Before the account can be closed, you need to answer two security questions that you set up prior to verifying your identity. After providing this information, City Index will proceed to close your account. The broker covers many major and minor markets globally, with over 12,000 products. City Index trades under StoneX Financial Ltd in the UK, a subsidiary of StoneX Group Inc.

Range of Trading Instruments

• If your account has been inactive for 3+ years (1+ years for professional traders) the broker will need to reassess your trading experience and ensure to have your up-to-date contact details.
• The average spread on the EUR/USD with this account type is 0.8 pips and no commissions are charged with the exception of shares.
• With City Index, you will find that the account opening process is very simple, and the broker has excellent Forex education and research tools.
• Now, the firm offers many more instruments, including CFDs and forex pairs to over 125,000 clients.
• In addition to its tax efficiency, its appeal also lies in its flexibility, offering leverage, competitive spreads, and the ability to go long or short with ease.
• Established in the UK in 1983 they say they have grown to become one of the leading providers of contracts for difference, FX and spread betting over the past 29 years.

New clients get a welcome letter with key account information and an introduction to platforms to help you pick the best platform for your needs. Filippo Ucchino has developed a quasi-scientific approach to city index review analyzing brokers, their services, offers, trading apps and platforms. He is an expert in Compliance and Security Policies for consumer protection in this sector.

• Traders can refer to the City Index website for the full list of commodities spreads.
• The acquisition of City Index by NASDAQ-listed StoneX Group in July 2020 has had little impact on the policies and running of the broker since it was announced.
• The broker also provides a strong educational offering, making it suitable for both beginners and experienced traders.

City Index offers a mobile application for both iOS and Android users. Traders can use the app to execute and manage trades on the go while making use of City Index’s main platform features. A 12-week demo account with 10,000 credits is available for both retail and professional traders to explore and make a clear decision on whether City Index is a worthwhile broker.

Customer Support

Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Yes, City Index does allow scalping and hedging strategies for traders. Additionally, automated trading strategies are also permitted which in our view, positions City Index well for high-frequency and quant-style traders. While we think City Index offers a lot of benefits to traders, we view these two factors as major disadvantages.

See all City Index’s Major Bonds Spreads

These include through the live chat service hosted on their website, through email, or by phone that is specific to your location. This can allow you to download and implement your own auto trading strategies, or import them from the wide community, and is a very popular feature among MT4 traders. On the platform, you can trade more than 80 Forex pairs, including majors, minors, and exotic pairs offered by City Index. The platform also offers an extremely customizable trading experience, and some of the most intelligent trading tools you will find.

City Index trading platforms and tools

For instance, if you believe the favorite will dominate, you can increase the spread for a higher payout. Conversely, buying points to lower the spread gives you a better chance of winning, but at reduced odds. Spreads may also move closer to game time due to late-breaking news, such as player injuries or roster changes, making it essential to monitor updates before placing your bet. Interestingly, an underdog can still cover even in a loss as long as they keep the game within the spread. For example, if the underdog loses by just six points, they’ve covered, and bettors win.

City Index is a leading provider of online trading services, specializing in Contracts for Difference (CFDs), forex and spread betting. With over 35 years of experience, City Index offers a wide range of tradable assets to cater to the needs of both individual and institutional traders. A good broker choice for newer and experienced traders they offer an excellent range of tools and educational resources. No minimum depositis charged, and spreads are tight and commission-free. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.

Does City Index Offer A Spread Betting Demo Account?

In spread betting, “covering the spread” refers to a team either exceeding or staying within the margin set by oddsmakers. If the favorite is listed at -7 and wins the game by more than seven points, they’ve successfully covered the spread. However, if they win by fewer than seven or lose outright, the bet loses, benefiting those who backed the underdog. Point spread betting is a popular form of sports wagering where oddsmakers assign a numerical margin to level the playing field between two teams.

They tried to drum up interest in their trading platform by running a £100,000 trading competition which was filmed in London. It pitted several novice traders against one another for the big prize. As it happens, I am actually a friend of the eventual winner, John Walsh, and you can follow him on twitter here. All information on The Forex Geek website is for educational purposes only and is not intended to provide financial advice.

It also has no minimum deposit to worry about and you can rely on the same excellent spreads that are available on other types of trading with the broker also being available here. City Index is a derivative brokerage firm that offers customers a platform for spread betting and trading forex and Contracts for Difference (CFDs). 73.6% of retail investor accounts lose money when trading spread bets and CFDs.

69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. City Index provides three trading platforms tailored to different trading needs. MetaTrader 4 (MT4) is ideal for forex traders who require automated trading and advanced charting.