City Index Review UK 2026 (FCA Regulated)

Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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 scores 78/100 in our testing. This review is based on a live UK account, opened at the broker's FCA-authorised entity, funded in GBP and traded. The EUR/USD, GBP/USD and EUR/GBP spread figures shown are modal values recorded on that account across three trading days in July 2026.

City Index suits traders who want an established UK name with broad market access. Deep UK heritage since 1983, a StoneX parent and a dual CFD and spread-bet offer across Web Trader, MT4 and TradingView are the reasons to choose it, and it trades as a brand of StoneX Financial Ltd, FCA-authorised under FRN 446717. Cost-led scalpers who chase the tightest raw spread should look elsewhere.

Three strengths stand out. First, heritage: City Index has operated in the UK market since 1983 and sits inside the NASDAQ-listed StoneX group. Second, breadth: forex, indices, shares and commodity CFDs sit in one account, with a spread-bet account alongside for UK clients. Third, platform choice: Web Trader, MT4 and TradingView cover most workflows without forcing a single proprietary tool.

City Index is not the cheapest route. There is no raw-spread commission account, so the cost sits entirely in the spread, and our July 2026 recording put EUR/USD at a modal 1.4 pips: the widest in the FCA-regulated set we review, level with Trading 212. Traders who need MT5 or cTrader will not find them on the UK offer.

Traders who value an established UK name, a dual CFD and spread-bet offer and TradingView charting get the most from City Index. Cost-led scalpers, and traders who need MetaTrader 5 or cTrader, are better served elsewhere in the set.

City Index quick facts

City Index trades as a brand of StoneX Financial Ltd, and the table below collects the figures a UK trader checks first.

Trading costs and fees

City Index prices through the spread on its core offer, with no raw or commission account at all, and our own recording shows the cost runs well above the advertised starting rate. The protocol behind these numbers, and the tier this review sits in, is covered in how we test. The draw here is heritage and breadth rather than a tight spread.

CFD account costs

The broker quotes EUR/USD from 0.7 pips and GBP/USD from 1.1 (broker site, accessed 10 July 2026). On a live UK account in July 2026 EUR/USD tested at a modal 1.4 pips, GBP/USD at 1.8 and EUR/GBP at 2.0, roughly double the from-rate in each case. That puts one standard lot of EUR/USD near £10.99, all of it spread, and makes City Index the widest tested EUR/USD in the FCA-regulated set we review, level with Trading 212.

The gap between the 0.7 advertised and the 1.4 we recorded is the single most useful number on this page. A from-rate is a best case; the modal is what you actually pay most often.

Spread betting costs

UK clients can open a spread-bet account alongside the CFD account, priced the same way on major markets rather than on its own schedule. Spread-betting profits are currently exempt from UK capital gains tax and stamp duty for UK residents, though tax treatment depends on your individual circumstances and can change.

Other fees UK traders should check

Funding is free in both directions, so the spread is effectively the whole cost, and at 1.4 pips tested that is a lot of cost to carry. Two practical floors: card deposits have a £100 per-transaction minimum, and withdrawals have a £100 minimum or your full balance if lower. Overnight funding applies to positions held open, on top of a spread that is already the widest here.

Trading platforms

City Index offers Web Trader, MT4 and TradingView, plus a spread-bet account alongside CFDs. There is no MT5 or cTrader in our latest check of the UK entity.

Web Trader

Web Trader is City Index’s own platform and carries the SMART Signals pattern-recognition tools and the in-platform research. It is competent rather than a reason in itself to choose the broker.

MetaTrader 4

MT4 runs alongside Web Trader for traders bringing an expert advisor. There is no MT5, so the newer generation is unavailable. The MT4 field in the UK is compared separately.

TradingView

TradingView connects to a City Index account, which is the platform pick for chart-led traders and the most modern part of the offer. Which UK brokers run TradingView is covered separately.

Mobile apps

City Index’s mobile apps carry Web Trader’s core in a lighter form for account management and order entry.

Trust and safety

City Index trades as a brand of StoneX Financial Ltd, with UK heritage dating to 1983.

FCA regulation and global licences

StoneX Financial Ltd, trading as City Index, is authorised and regulated by the FCA under FRN 446717 (FCA register, checked 15 July 2026), part of the NASDAQ-listed StoneX group, with UK heritage dating to 1983. One point to note: Forex.com is a separate FCA-authorised firm (Gain Capital UK Limited, FRN 113942) within the same StoneX group, so the two share a parent rather than an authorisation. On execution model, City Index executes as a market maker against its own book with StoneX group liquidity behind it, publishing order-execution and best-execution policy documents rather than a headline fill-speed figure; requotes are not a feature of its standard CFD execution.

Client money, FSCS and negative balance protection

City Index is a brand rather than a company: your counterparty is StoneX Financial Ltd, whose NASDAQ-listed parent publishes audited accounts. Client money is held in segregated accounts under the FCA’s CASS rules, separate from the firm’s own funds. Negative balance protection applies to retail accounts, so a position cannot leave you owing more than your balance. If the firm failed, FSCS cover runs up to £85,000 per eligible person, covering shortfalls in client money and assets rather than trading losses. Disputes escalate to the Financial Ombudsman Service, and how FCA authorisation protects you covers the award limits.

History and ownership

City Index has operated in the UK market since 1983, which is second only to IG in this set, and it sits inside the NASDAQ-listed StoneX group. The listed parent publishes audited accounts. That heritage and balance sheet, rather than pricing, is what the brand sells.

Public reviews

Trustpilot rates City Index 4.4 out of 5 from 391 reviews (Trustpilot profile, checked 15 July 2026). That is at the top of the FCA-regulated brokers we cover, where the range runs from 1.8 to 4.6, though on a much smaller review count than the largest brands here carry, so read it with that in mind. It also sits strikingly against the widest tested spread in our set, which suggests reviewers are rating service and heritage rather than cost. Read it as a brand-level signal rather than a UK verdict, since Trustpilot profiles cover the whole brand across every market. Scores also move, so treat the figure as a July 2026 snapshot.

Account types and minimum deposit

A CFD account and a spread-bet account cover the UK offer.

Account options for UK clients

Both accounts price alike on major markets and differ on tax treatment rather than model. There is no raw or commission tier. Tax treatment depends on your individual circumstances and can change.

Minimum deposit

City Index has no minimum deposit to open either account (broker site, accessed 10 July 2026). The practical floor is a £100 per-transaction minimum on card deposits, while bank transfers carry no minimum.

Funding and withdrawals

Funding is free in both directions, with £100 floors on cards and withdrawals.

Deposit methods (UK clients)

Deposits by debit card, credit card or bank transfer are free, and PayPal deposits are no longer accepted (broker site, accessed 10 July 2026). Card deposits carry a £100 per-transaction minimum; bank transfers carry none.

Withdrawals

Withdrawals are free of charge, with a £100 minimum withdrawal or your full balance if lower.

• Card withdrawals: three to five working days
• UK bank transfers: one to two working days, or one working day where the bank uses Faster Payments

Account opening

Opening is online, with identity and address verification under the FCA’s client-onboarding rules. With no account minimum there is nothing to fund up front, though the £100 card floor applies when you do.

Product range

City Index covers forex, indices, shares and commodity CFDs across a broad range, with a spread-bet account alongside for UK clients. For depth on any single asset class, start at the CFD broker comparison.

Any crypto product City Index markets elsewhere is unavailable to UK retail. The FCA banned the sale of crypto derivatives to UK retail consumers from 6 January 2021. The markets table above states that in the crypto row, and no crypto tier appears in the leverage list because the FCA caps do not include one.

Index CFDs

City Index quotes the main global benchmarks at 20:1 retail leverage on the majors. Our index CFD brokers page compares those across the set, and the share CFD brokers page does the same for equities.

Spread betting markets

The spread-bet account covers the same market list as the CFD account, so breadth is not the reason to choose between them; tax treatment is.

Leverage for UK traders

Retail leverage at City Index follows the FCA’s standardised caps rather than anything the broker sets, and applies equally to the CFD and spread-bet accounts. No FCA broker exceeds these caps; what the caps allow explains the margin that follows from them.

Customer service

City Index runs UK support by live chat, phone and email, with account and platform help centred on its online help pages.

As a StoneX brand the help centre shares structure with Forex.com but is staffed for City Index products, including spread-betting queries. We describe support here from published information rather than timed response tests on the UK desk.

Research and education

City Index carries in-platform analysis from its research team, including daily market commentary, a news feed and an economic calendar inside Web Trader. A structured trading academy covers CFD and spread-betting basics, and SMART Signals pattern-recognition tools flag chart setups where available on the UK offer. Traders who want deeper third-party charting can lean on the TradingView integration. We describe the offer from City Index’s published material pending a live assessment.

How City Index compares to alternatives

Pepperstone runs the raw commission account City Index lacks, which is the entire cost argument. Forex.com sits under the same StoneX parent as a separate FCA-authorised firm (Gain Capital UK Limited, FRN 113942, against City Index’s StoneX Financial Ltd, FRN 446717), so weigh the two as sister offers rather than one authorisation. For breadth on a deeper platform, CMC Markets is the closer match. The reviews index ranks the wider UK field, and every FCA broker we rate sits in one place.

Should you open an account with City Index?

Yes, for traders who value UK heritage back to 1983, a listed StoneX parent, and a CFD account with a spread-bet account beside it. City Index trades as a brand of StoneX Financial Ltd under FCA authorisation FRN 446717, with no account minimum, free funding both ways and TradingView alongside Web Trader and MT4.

Not for raw-spread cost hunters. There is no commission-based raw account, so the all-in price never matches the ECN-style leaders, and our July 2026 recording put EUR/USD at a modal 1.4 pips: the widest in the FCA-regulated set we review, level with Trading 212, and roughly double the advertised from-rate. Traders who need MT5 or cTrader will not find them here either.

Test the platform on a demo first, and see our guide to practice accounts for how to use one well. If that fits how you trade, open a City Index demo account before funding a live one (affiliate link, see our advertiser disclosure).