City Index - London

Fadi K.

Total disgrace. City Index takes deposits without clearly stating that they only ‘accept’ deposits from a “traditional bank account”. You are only informed of this after a deposit is made. Then you are asked to provide evidence that you’ve made this same deposit from your current account in order for them to deposit it back. (Unreal). Their support teams are on autopilot. One guy named Toby tells me they only deal with traditional banks and do not deal with anything related to fintech (Monzo, Revolut), (not accurate since they deal with former ). This is a spread betting shop….. Annoyingly, they ignore you throughout this process. Best avoided.

Sebastian G.

Try different broker
* City Index in my private ranking is the worst broker on the market. *
Here is what to expect from his broker.
The mobile app has bugs and it crashes. The issue was reported multiple times and was only partially fixed.
Web Platform during the last two months:
* Crashed 5 times (five times!), during each crash the platform was unavailable or the charts did not work.* Crash number 4 - was a very special one, the platform and mobile app were unavailable for hours.
* City Index does _not_ cover the losses that occurred during the platform crashes. *
During a recent platform upgrade, they introduced bugs. They did not test their platform properly before it was given to the traders, as a result, their 2h,4h,8h, and weekly charts showed incorrect candles. It took them weeks to resolve it after multiple interventions from my side. In general, they have very low standards in terms of software testing.
* They are for 40 years on the market, but it does not translate to a high-quality platform or good customer service. *
Customer Service / Support - every time you report the issue they will suggest that the issue is on your end, that's why make sure you take pictures and videos if any issue occurs during the trading. They will do everything to deny any issue on their side.
Their trading platform is basic (Trading View out of the box). UX experience is not great. - there is room for improvement and there are missing functionalities (trading from the chart, trailing stop - limited configuration).
Volume - this broker does not offer volume data. If you use any indicators that need volume data then here all the main indicators won't work.
Account Manager - won't help you to resolve any of your queries.
City Index said: "... We work hard to make every customer experience enjoyable, and we are sorry we have not been able to meet your expectations this time. Although we take great pride in our products and services, we understand that there is always room for improvement."
This is a meaningless statement written by their PR/Marketing department and has nothing to do with reality. You will be ignored. Nothing is seamless. They are unprofessional. This is the most technologically illiterate broker on the market. Expect the never-ending saga of platform bugs and malfunctions.
If you trade NASDAQ, their fees (spread) are higher than some other brokers (3 points outside trading hours, you can find better prices).

Execution is not great, especially during busy periods. It means when you try to open a position during busy trading hours you will have to click multiple times the buy/sell button to open a position and you may end up in a very different place than intended.
This broker is suitable only for people who mastered their trading skills and looking for extra challenges. Someone who needs extra adrenaline. If you are ok with unexpected platform crashes, platform bugs, and poor support this is a perfect broker for you.
All other people please try a different broker. The issues mentioned above put your capital at risk.
Their compliance team - when they responded to my complaint they showed that reading is not their strongest skill. They responded to a query that was not even covered by my original email.
There are no good intentions in this department.

BB G.

Absolutely appalling finance department. Every withdrawal I make has some issue which I have to contact their customer services about. I also made a deposit to their account and I had to work it through with them so they could locate the money as they had lost it.

They also have this bizarre process whereby if you are withdrawing profit they wire transfer it to you and it takes longer to receive your funds.

Awful.

Bob F.

Nice trading platform, with plenty of options and ways to trade. News letters and trading tutorials. Very easy to join, and very easy to deposit funds, BUT BEWARE, it can be very very difficult to get your money back. I am still trying to get nearly two thousand pounds back from them, customer services do not reply to messages, and after jumping through all their anti-fraud procedures, am still waiting to withdraw funds. I am currently chatting with the FSA and a solicitor for advice on my next move. Also beware, their helpline number 0845 is a non-geographical premium rate phone number.

Sam M.

I opened up a buy order that initially went down and I was in £2000 loss. The trade eventually came back and I was £1000 in profit. When I checked again, a few minutes later, my trade disappeared. It had been automatically closed at £300 profit, whereas if it had remained open I would have been in £2000 profit. When I called up CityIndex they immediately said that they had been suffering from technical issues. I asked for my trade to be reinstated and they said no. They checked their system and said that I had executed the sell trade at £300 profit. When I asked for proof they said they couldnt provide anything. Robbed!

Ziga Z.

They appear to have a lot of positive reviews, but the vast majority are related to presentations by someone called Sandy and not to the actual trading platform or service. It's highly suspect that 100s of attendees at this seminar have all decided to write a review for city index based on his presentation. In my experience the actual trading platform suffers from problems at crucial times and often their prices differ from those quoted elsewhere on the web. Right now I am told that they're having "technical issues" yet again and there are worrying discrepancies in my balance, which they "are trying to fix". Be careful in trusting them with your money!

Quentin L.

The system is the worst I've ever encountered in over 20 years of trading.
- logs out on its own
- crashes.
- the prices lag.
- system freezes.
- CHANGES THE POUNDS PER POINT FIGURE ON ITS OWN!

Reported this terrible company. There are other much better and transparent trading companies it there.

David T.

Just tried to sort out an issue with client service. first of all the person didnt have a clue about how their system works or how to place a trade, then finally admitted that there had been a ' glitch' at their end and when I asked them to make good the account for the profit it had cost, denied that they had said there had been a glitch ( I have a witness). I asked to speak to the supervisor but was then put on hold forever and gave up. i dont mind ' glitches' ( we all make mistakes and usually they are not deliberate) but I cant stand lack of accountability and lack of apology.