Compare the Best Online Investment Brokerages in Singapore 2020

Choose from MoneySmart's curated list of best brokerages in Singapore and Learn how to maximise returns. read more
We found 1 Online Brokerages for you!
City Index logo
For Experienced CFD Traders
Min. Commission Fee US Shares
US$15
Min. Commission Fee SG Shares
S$10
Min. Funding
S$0
Apply Now

Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.

City Index Products & Market Access

Indices

Indices trading through City Index gives you access to 17 major indices from Asia, Europe, U.S. and Australia, which allows you to trade on a wide mix of sectors. On top of that, major indices can be traded with a fixed 1 point spread during trading hours. If you decide to trade indices via City Index, you should be aware that they have their own terminology for major indices. For example, their term for ASX is the AU 200, while DAX is the Germany 30.

Forex

When it comes to Forex, City Index has at least 84 global FX pairs such as EUR/USD, AUD/USD, USD/JPY and GBP/USD, among others. Other minor and exotic pairs are also available. From 0.5 points, you can start trading major currency pairs. One advantage of forex trading is that you can trade currency pairs through your CFD account or FX on MT4 24 hours a day.

Shares

With more than 4,500 shares available, City Index lets you speculate on a wide variety of markets, with commissions starting from 1.5 cents/min USD 15 on US shares. If you decide to trade shares via City Index, you’ll get to enjoy monthly cash rebates, real-time market insights, trading strategy updates, as well as risk management tools to mitigate potential losses.

Commodities

If you’re an individual or business trader who’s more focused on tangible products, City Index give you access to 26 commodities like oil, natural gas, sugar, wheat, soybean, lumber and others. Using their extensive chart types, you’ll be able to utilise more than 80 indicators when performing technical analysis.

City Index Fees and Charges

Commission Fee

If you’re worried about the commission fees, relax – they’re usually very minimal. At times, there are even no fees. With City Index, you don’t need to pay commissions on CFDs. But, (yes, there’s always a caveat) you need to pay a commission fee on shares. The rate starts at 0.08%/$10. For a more extensive overview of how much they charge per type of share, take a look at our table below or check the full pricing information published on their website.

Spreads

If you’ve never encountered this term before, spread is simply the difference between the bid and ask prices of a specific asset. It could also refer to the difference in the gap position. In the case of City Index, they offer fixed and variable spreads that vary depending on the market you trade in. You’ll find a comprehensive table that outlines the spreads for different asset classes on their website.

Rollover Rate

To some investors, rollover rate is unheard of. In a nutshell, this is the interest that’s either charged or credited to your account whenever you have an open position overnight. If you have one, 2 things can happen – earn profits or incur losses. The amount you lose or earn can be significant or negligible, depending on how long you hold your position open.

City Index Account Opening Procedure

Apply Online

To kick-start trading with City Index, you must first complete the online application. It will only take a few minutes to fill in your personal details, address and other information. You also need to choose between CFD account or FX account.

Submit Requirements

Along the process, you’ll be asked to submit a couple of documents such as proof of identity, proof of address and CKA certificate (if needed). Do note that you may be asked to obtain additional documents, one a case-by-case basis.

Fund & Trade

After setting up your account, you need to make sure that your account is sufficiently funded. If you’re funding your City Index CFD account for the first time, there’s no minimum deposit. However, if you’ll be using credit or debit card, the minimum amount is S$250. Other ways to fund your account are ibanking, PayNow, cheque, bill payment or wire transfer.

City Index Investment Platforms and Trading Insights

There are 2 ways to start trading with City Index. You can choose between CFD trading and FX on MT4. If you frequently trade on indices, FX, shares, commodities and metals, you should open a CFD trading account. With this account, you only need to pay commission on shares. Now, if you’re a hardcore spot FX and CFD indices trader, you should go for the FX on MT4 account. There’s no commission fee involved when you trade with this account. Both new and experienced traders can take advantage of a breadth of trading tools for technical analysis research. If you’re more advanced, you can use AT Pro – an automated analysis tool with 100+ indicators, extensive drawing tools, charts and more. Another trading platform is Web Trader. It features HTML technology with comprehensive drawing tools, charts, customisable workspaces that give you a seamless market overview. MetaTrader 4, on the other hand, is a well-known FX trading platform that allows you to trade on 84 FX pairs and learn from expert advisors through automated trading strategies.

Frequently Asked Questions

What is the minimum deposit in City Index?

If it’s your first time funding your City Index account, you’re in luck because there’s no minimum deposit requirement. However, if you’ll be funding your account via credit or debit card, there’s a minimum of $250.

What are the minimum brokerage charges in City Index?

If you plan to execute CFD stock trades in Singapore, the minimum cost would be S$10 or 0.08% of the notional amount. For U.S. markets, the charges are 1.5 cents/share, with a minimum fee of USD15.

What is the account opening charge in City Index?

With City Index, there’s no account opening charge. You simply need to fund your account to be able to start trading.

How to transfer funds to City Index trading account?

There are several ways to fund your City Index account. You can use your credit or debit card, ibanking, PayNow, cheque, bill payment or wire transfer.

Who can open a City Index online trading account?

To be able to open a City Index online trading account, you only need to be at least 18 years of age . You don’t have to worry about the income requirement because there’s none. Unfortunately, U.S. and Canadian citizens aren’t allowed to open a City Index SG account.