City Index

City Index broker is one of the oldest brokers active in the financial markets. It has operated in the UK since 1983 and, according to Teagle data, serves more than one million users worldwide. The broker operates under the UK's FCA and is known for its very wide range of markets and educational tools. In this overview, we review City Index's license, accounts, platforms and risks based on Teagle data, with one important note: users residing in Iran cannot register with it.

What kind of broker is City Index?

With 43 years of history, City Index provides access to more than 13,500 global markets, including forex, stocks, indices, commodities and precious metals, through CFD trading and spread betting. Tools such as Performance Analytics, specialist training in its academy and 24/5 support are among its features. In the list of advantages recorded on Teagle, the order execution speed is stated as about 0.02 seconds.

City Index licenses and credibility

According to Teagle's latest review, City Index holds one active license:

• UK FCA (Financial Conduct Authority) with active status; the license number is not recorded in Teagle's data.

The FCA is one of the strictest financial regulators in the world and requires high standards of transparency and client fund protection; deposit insurance is also listed among this broker's features. This same strictness in identity verification and anti-money laundering rules is the main reason for the restriction on Iranian users. To understand where this license stands, read the guide to broker regulation and how it is graded .

Does City Index serve Iranians?

No. According to the Teagle team's review of the documentation, opening an account with City Index requires valid identity documents, proof of address and a tax identification number from your country of residence, and its services are not offered in countries where they would conflict with local laws or regulation. IP type is not the main criterion either; what matters is that your residence and documents comply with the regulatory rules of the UK, Singapore or Australia. Therefore, only Iranians living abroad with valid residency documents can use this broker.

City Index trading accounts

City Index offers three accounts with floating spreads; the minimum deposit in Teagle's table for all three is 100 units of the base currency:

• Standard account: spreads from 0.5 pips, more than 13,500 symbols, and WebTrader, mobile and TradingView platforms.
• MT4 account: spreads from 0.8 pips and more than 300 forex, index and commodity markets on MetaTrader 4.
• Corporate account: spreads from 0.7 pips with access to standard symbols.

The minimum order size is 0.01 lot, the accounts have no requotes, and maximum leverage is only 1:50 due to FCA restrictions; a figure that keeps risk in check but is limiting for traders used to high leverage. See the impact of this figure in the guide to leverage and leveraged trading . An Islamic account is also available, but only for residents of certain countries such as the UAE and with a verified account.

City Index platforms and services

Trading at City Index takes place on MetaTrader 4, WebTrader, the mobile app and TradingView; MetaTrader 5 is not offered. If you use TradingView, see the guide to connecting a broker account to TradingView . Scalping, hedging, news trading, phone trading and the use of expert advisors are allowed. Additional services include copy trading, PAMM, VPS, trading API, rebates, education, an economic calendar and a glossary; if you use a trading bot, the article VPS in forex will be useful. This broker does not offer bonuses.

Deposits and withdrawals at City Index

According to Teagle's payment table, deposits by debit or credit card are free with a minimum of 100 units of the base currency, and card withdrawals are also free, with a minimum of 100 GBP and a processing time of 3 to 5 business days. No minimum deposit is set for bank transfers, and withdrawals take 1 to 2 business days; the minimum withdrawal is 100 GBP or the full account balance, whichever is lower. Withdrawals are managed through the Secure Funding Portal in the user dashboard.

City Index rating and risk on Teagle

City Index's overall rating on Teagle is 2.5 out of 5, calculated as the average of four sources: Trustpilot 4.3, Teagle expert 2.7, WikiFX 1.59 and Forex Peace Army 1.4. No reviews from Teagle users have been submitted yet. The Teagle Eye risk index for this broker is 27 out of 100, in the "low to medium risk" category; the FCA license and 43-year history keep it low, but weak credibility scores have pushed it up. See its weekly position in the low-risk broker rankings .

City Index pros and cons

• Pro: FCA regulation and more than four decades of history
• Pro: more than 13,500 markets and comprehensive education
• Pro: fast execution and access to TradingView
• Con: geographic restrictions and no acceptance of Iranian residents
• Con: leverage limited to 1:50 and no bonuses
• Con: no MetaTrader 5 and an Islamic account limited to certain countries

Who is City Index suitable for?

City Index suits professional and learning-oriented traders who value broad access to global markets and credible FCA oversight more than high leverage and bonuses, and who live in a permitted country. Residents of Iran and those looking for incentives such as bonuses need another option. For a comparison with another UK broker, see the City Index vs ActivTrades comparison .

Conclusion

In terms of history, licensing and market variety, City Index ranks among the reputable UK brokers, but its strict identity verification rules put it out of reach for residents of Iran. If you live outside Iran, start with small capital, make a test withdrawal and follow the latest warnings on the risk warning page .