City Index Review 2026
Regulated broker with real licence numbers.
City Index is a regulated CFD broker founded in 1983. It holds a FCA licence under number 113942.
The basics
City Index was founded in 1983 and is headquartered in London, UK. It is privately owned. The broker offers CFDs on 13,500 instruments across forex, indices, commodities, and crypto. All positions are contracts for difference — there is no real asset ownership.
MetaTrader is available on all account types. Copy trading is not offered.
| Founded | 1983 |
| Headquarters | London, UK |
| Instruments | 13,500+ |
| Platforms | City Index Platform, MT4, TradingView |
| MetaTrader | Yes — MT4 and MT5 |
| Copy trading | No |
| Real stocks | No — CFDs only |
Is City Index safe?
FCA-regulated brokers must keep client funds in accounts segregated from company funds, provide negative balance protection, and contribute to the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 per client if the broker becomes insolvent.
| Regulator | Licence | Entity |
|---|---|---|
| FCA | 113942 ✓ | GAIN Capital UK Ltd (City Index) |
| ASIC | 345646 ✓ | GAIN Capital Australia Pty Ltd |
| MAS | N/A ✓ | GAIN Capital Singapore Pte Ltd |
You can verify the FCA licence at register.fca.org.uk. The registration shows the entity name, authorisation status, and full permissions list. It takes under a minute.
City Index spreads
These are the typical spreads on City Index's standard account. Spreads vary by market conditions and account type. ECN or raw-spread accounts offer lower spreads in exchange for a per-trade commission.
| EUR/USD | 0.5 pips pips |
| GBP/USD | 0.8 pips pips |
| USD/JPY | 0.6 pips pips |
| Gold (XAU/USD) | 20c/oz |
| S&P 500 | 0.5pt |
City Index's EUR/USD spread of 0.5 pips pips is among the tightest available, competitive with ECN brokers.
City Index withdrawal fee and processing time
Fee: None. City Index does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Processing time: 1 to 3 business days. E-wallet and card withdrawals are typically faster than bank wire transfers.
Withdrawal requests must pass identity verification before processing. If your account is not yet fully verified (proof of identity and address submitted), expect additional delays. Verified accounts follow the standard processing times above.
City Index minimum deposit by entity
The minimum deposit depends on which City Index entity serves your country. Offshore entities often allow lower minimums but with less regulatory protection.
| Entity | Regulator | Min deposit | Max leverage (forex) |
|---|---|---|---|
| GAIN Capital UK Ltd (City Index) | FCA 113942 | None | 1:30 |
| GAIN Capital Australia Pty Ltd | ASIC 345646 | None | 1:30 |
| GAIN Capital Singapore Pte Ltd | MAS N/A | None | 1:20 |
City Index vs eToro
| City Index | eToro | |
|---|---|---|
| Primary regulator | FCA 113942 | FCA 583263 |
| Min deposit | None | $50 |
| EUR/USD spread | 0.5 pips pips | 1.0 pips |
| MetaTrader | Yes | No |
| Instruments | 13,500+ | 3,000+ |
| Copy trading | No | Yes |
| Withdrawal fee | None | $5 per withdrawal |
Both brokers are regulated and legitimate. City Index suits traders who value MetaTrader and algorithmic trading. eToro is better for traders who prioritise its specific regulated entity coverage.
Regulation — the numbers that matter
| FCA | 113942 — GAIN Capital UK Ltd (City Index) |
| ASIC | 345646 — GAIN Capital Australia Pty Ltd |
| MAS | N/A — GAIN Capital Singapore Pte Ltd |
Leverage for retail clients in the EU and UK is capped at 1:30 on major forex pairs under ESMA rules.
Pros and Cons
What works
- FCA regulated — GAIN Capital UK Ltd (City Index)
- No minimum deposit
- MetaTrader 4 and 5 available
- Tight EUR/USD spread from 0.5 pips
- Regulated in 3 jurisdictions
- 13,500+ instruments
What does not work
- No copy trading
- No real stock ownership — CFDs only
- Inactivity fee: $12/month after 12 months
The verdict
City Index is a legitimate, regulated broker. The FCA licence number 113942 is verifiable on the public register. It is best suited for traders who want MetaTrader on a regulated platform. Rating: 4.0 out of 5.
Alternatives to City Index
If City Index does not fit your needs, these regulated alternatives are worth comparing:
Frequently asked questions
Is City Index safe?
FCA-regulated brokers must keep client funds in accounts segregated from company funds, provide negative balance protection, and contribute to the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 per client if the broker becomes insolvent. City Index holds FCA licence 113942, which is publicly verifiable on the official register.
What is the City Index minimum deposit?
The minimum deposit is None. This applies to the main regulated entity. Some offshore entities may differ. See the entity table above for full breakdown.
What is the City Index EUR/USD spread?
The EUR/USD spread on City Index standard accounts is typically 0.5 pips pips. Spreads vary with market conditions. ECN or raw accounts offer lower spreads with a per-trade commission instead.
How long does City Index take to process withdrawals?
1 to 3 business days. E-wallet and card withdrawals are typically faster than bank wire transfers.
Does City Index charge withdrawal fees?
None. City Index does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Does City Index have MetaTrader?
Yes. City Index supports both MT4 and MT5 on all account types. This allows automated trading, custom indicators, and expert advisors.