Overall, City Index Singapore is trustworthy to invest with and utilize their trading services. City Index Singapore provides the popular MetaTrader 4 and At Pro platforms. CGS CIMB has a Maximum Leverage of 1:50.
CITY INDEX SINGAPORE at a Glance
| Broker’s Name | CITY INDEX SINGAPORE |
| 📍 Headquartered | Shenton Way, Singapore |
| 📅 Year Founded | 1983 |
| ⚖️ Regulating Authorities | MAS |
| 🌐 Countries not accepted for trade | South Africa, United States, Brazil, Belgium, Hong Kong, and Japan. |
| ☪️ Islamic account (swap-free) | No |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1:50 |
| 💰 Minimum Deposit | $100 / R 1,616.77 |
| 💳 Deposit Options | Visa, MasterCard, Bank Transfer, NETS, ATM, Cheque and internet banking and wire transfer |
| 💳 Withdrawal Options | Visa, MasterCard, Bank Transfer, NETS, ATM, Cheque and internet banking and wire transfer |
| 💻 Platform Types | MetaTrader4 and AT Pro |
| 📱 OS Compatibility | Yes, Mobile and Desktop |
| 📈 Tradable assets offered | Over 65 Forex pairs, CFDs, Shares, Commodities and Metals |
| 👨💼 Languages supported on Website | English |
| 👥 Customer Support Languages | English |
| 📆 Customer Service Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
CITY INDEX SINGAPORE Review – 20 key points quick overview:
CITY INDEX SINGAPORE Overview
According to research in South Africa, City Index Singapore is an online Forex and CFD broker that is based in Shenton Way, Singapore.
The company is owned by the publicly traded Gain Capital which has over 35 years of experience when it comes to Forex and CFD trading.
Both Gain Capital and City Index are regulated in not one, but three tier-1 jurisdictions, making them safe and legitimate brokers for forex and CFD trading.
Established back in the UK back in 1983, Gain Capital has grown to become an extremely well-respected leader in the industry, they have offices in major countries around the world like Australia, England, China, and the United States.
CITY INDEX SINGAPORE Safety and Security
One of the best benchmarks to measure the safety of a broker like City Index Singapore is to establish which regulating authorities are watchdogs over its actions.
City Index Singapore is regulated by the Monetary Authority of Singapore (MAS).
CITY INDEX SINGAPORE Leverage
Leverage is a facility that enables you to get much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit but also increase your potential loss.
Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate to 500:1.
Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin.
For example, on a 1% margin, a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal to or more than 100% to be able to open new trades, otherwise, your trading account will be fully hedged.
City Index Singapore offers a maximum leverage ratio of 1:50.
CITY INDEX SINGAPORE Accounts
A forex account at City Index Singapore is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.
Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith. City Index does not offer the option for a live trading account to be converted into an Islamic Account.
Often, the number and type of accounts that a trader can open with a broker company differ depending on the country in which it operates and the regulatory authorities through which it is regulated.
City Index Singapore offers the following types of accounts:
- Trader Account – As an entry-level account, it is the gateway to more premium accounts. This account comes with negative balance protection, access to news and analysis, and a 100 USD minimum deposit requirement.
- Premium Account – Only active traders with an account balance of 10,000 USD qualify for this account. It features similar benefits to the Trader account with added priority service, a relationship manager, and invitations to certain premium events.
- Professional Account – To qualify, traders need to have made 500,000 USD in cash deposits during their history with City Index Singapore along with the history of 10 significantly sized transactions per quarter over the last four courters.
CITY INDEX SINGAPORE Market Instruments
The most popular market instruments available from most brokers for trading include:
Forex:
Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.
Commodities:
Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a major role in portfolio diversification and risk management.
Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.
Indices:
Equity, or stock indices, is actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.
Precious metals:
The trading of gold and other precious metals, along with crude oil, copper, or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.
Energy:
The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions and global economic growth.
City Index Singapore offers the following from the above:
- Over 65 Forex pairs
- CFDs
- Shares
- Commodities
- Precious Metals
CITY INDEX SINGAPORE Fees
Cost depends on different factors such as spread and margins. City Index Singapore clients may also experience different fee structures according to their country or place of residence.
The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move.
Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.
City Index Singapore offers floating spreads that start from 0.5 pips for major pairs and an average of 0.7 pips. They do not charge commission on trades.
CITY INDEX SINGAPORE Deposit and Withdrawal
Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done using various payment methods, but this differs from one broker to the next.
City Index Singapore supports the following methods for deposit and withdrawal:
Visa
MasterCard
Bank Transfer
NETS
ATM
Cheque
Internet banking, and
Wire transfer
CITY INDEX SINGAPORE Trading Platforms
The forex trading platform provided by City Index Singapore to its clients is the software to carry out their trades. Some brokers provide only one trading platform while others offer several.
A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.
City Index Singapore provides the popular MetaTrader 4 and At Pro platforms.
To set up and register for a Demo Account withCity Index Singapore is a straightforward process and you can do it as follows:
Step 1 – Create an Account
To register a forex trading account with City Index Singapore for the first time, you will be required to go through a basic “know your customer” process.
Step 2 – Fill out the form
This will allow City Index Singapore to ascertain your submitted details and ensure the safety of your funds and account details.
With City Index Singapore, the process entails logging onto their website and filling in some basic information. You will be asked to provide proof of your bank account, residence, and a copy of your legal ID.
You may also be required to answer a few questions regarding your level of trading experience. Once this is completed you wait for your account approval, make your minimum deposit requirement, and start trading.
CITY INDEX SINGAPORE Customer Support
Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.
City Index Singapore customers can reach the support team via email, telephone, or through the live chat option on their website.
CITY INDEX SINGAPORE Education
Before starting to trade, potential clients of City Index Singapore should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.
City Index Singapore offers a few educational materials. The material is split into three sections and includes webinars, how-to guides, seminars, and different trader courses.
CITY INDEX SINGAPORE Research
To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing.
Traders should also investigate each deal to ensure that they do not lose money unnecessarily and that trade as profitable as possible.
With City Index Singapore, traders have access to an economic calendar, charts, in-depth market analysis and alert notifications.
CITY INDEX SINGAPORE Awards
Although City Index Singapore is praised by customers, there is no indication of awards won on its homepage.
CITY INDEX SINGAPORE Pro and Cons
| ✔️ Pros | ❌ Cons |
| Tight spreads | 1. Strict requirements to qualify for better account types |
| 2. Advanced trading platforms | |
| 3. Adequate regulation |
Conclusion
Overall, City Index Singapore is trustworthy to invest with and utilize their trading services. City Index Singapore provides the popular MetaTrader 4 and At Pro platforms. CGS CIMB has a Maximum Leverage of 1:50.
Disclaimer
City Index Singapore warns potential customers that Forex and CFDs trading carries a high risk and may not be suitable for all investors.
Before deciding to trade with City Index Singapore, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.
City Index Singapore warns that margin trading involves the potential for profit as well as the risk of loss.
Movements in the price of foreign exchange and commodities are very unpredictable, hence City Index Singapore cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.
Frequently Asked Questions
How many instruments can I trade with City Index Singapore?
Trade several different instruments with City Index Singapore, incl: Over 65 Forex pairs, CFDs, Shares, Commodities, Metals
Which platforms are supported by City Index Singapore?
City Index Singapore provides the following popular trading platforms:
Does City Index Singapore charge a commission?
City Index Singapore allows you to trade CFDs in 84 global Forex pairs with no commission charges.
Does City Index Singapore offer leverage?
You can trade with leverage across a wide range of markets with City Index, from FX and shares to indices and commodities.
What is the overall rating out of 10 for City Index Singapore?
The overall rating is 9/10
Featured SA Shares Writer and Forex Analyst.
Discussion about this post