Compare the Best City Index Online Investment Brokerages in Singapore 2020

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Min. Funding

S$0

For Experienced CFD Traders

City Index

Min. Commission Fee US Shares
US$15
Min. Commission Fee SG Shares
S$10
Min. Funding
S$0
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City Index Singapore

City Index is a global CFD (contract for difference) and FX (Forex) broker headquartered in London, United Kingdom, with a presence in Singapore. CityIndex SG only trades CFDs in Forex, commodities, indices, shares, and metals, and is regulated by the Monetary Authority of Singapore (MAS).

Forex

City Index Singapore allows you to trade CFDs in 84 global Forex pairs with no commission charges. FX margins start from 5%, including popular Forex pairings such as EUR/ USD (0.5 minimum spread), USD/ JPY (0.6 minimum spread), GBP/ USD (0.9 minimum spread), AUD/ USD (0.5 minimum spread), and NZD/ USD (2.2 minimum spread). CityIndex SG’s Forex trades are executed on MT4, or MetaTrader 4, a global Forex trading and technical analysis platform.

Shares

CityIndex SG allows you to trade CFDs on over 4,500 global shares with margins from 10%. Commission charges for SGX Singapore shares are 0.08% with a minimum of S$10 for trades in SGD, and 1.5 cents per share with a minimum of US$15 for trades in USD. Commission charges for US shares are 1.5 cents per share with a minimum of US$15, and 0.10% with a minimum of GBP15 for UK shares. City Index’s Web Trader and AT Pro desktop and mobile trading platforms will also provide you with real-time market insights, trading strategy updates, and risk management tools to mitigate potential losses.

Indices

Trade CFD indices through City Index to access 21 global indices with no commission fees. Margins start from 5% for indices such as the SGX Singapore Index (0.4 points minimum spread), Wall Street (1.6 points minimum spread), US SP 500 (0.1 points minimum spread), Germany 30 (1 point minimum spread), Hong Kong 50 (10 points minimum spread), and more. 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.

City Index Commission Charges

Commission Charges

City Index does not have commission charges on all CFDs except for CFDs on shares. Commission charges start from 0.08% (minimum S$10) for SGX Singapore shares traded in SGD, 1.5 cents per share (minimum US$15) for SGX Singapore shares traded in USD, 1.5 cents per share (minimum US$15) for US shares, 0.10% (minimum GBP15) for UK shares, and more.

Overnight Charges

City Index charges overnight financing fees, more commonly known as overnight charges, to help you hold your trading positions overnight on leveraged trading instruments with no set expiry dates such as CFDs. Your overnight charges largely vary according to the short and long positions you hold.

City Index Minimum Deposit

City Index requires a minimum deposit of S$150 to open a trading account. If you are funding your account via credit or debit cards, the minimum deposit per card transaction is S$250.

City Index App and Platform

There are 2 ways to start trading with City Index: you can choose between CFD trading and FX on the MetaTrader 4 (MT4) trading platform. First up, if you frequently trade on indices, FX, shares, commodities and metals, you should open a CityIndex CFD trading account. With this account, you only need to pay commission on shares. Second, if you are a hardcore spot FX and CFD indices trader, you should go for the FX on MT4 account. There are no commission fees when you trade with this account. Experienced traders can take advantage of a breadth of trading tools for technical analysis research. However, if you are even more advanced and MT4 is insufficient for you, you can opt for the AT Pro, an automated analysis tool with 100+ indicators, extensive drawing tools, charts and more. Finally, CityIndex also gives you the option of trading on the WebTrader. 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.

Open a City Index Account

Step 1Apply Online

To open a City Index, you can simply scroll up and click on the CityIndex trading account page to fill in an online application seamlessly. Alternatively, you can visit the City Index website and complete the online application. You will be asked to choose between a CFD account or FX account.

Step 2Submit Documents

Along the process, you will be asked to submit a couple of documents such as proof of identity, proof of address, and CKA certificate if necessary. Do note that you may also be asked to obtain additional documents on a case-by-case basis.

Step 3Fund and Trade

After setting up your account, you need to make sure that your account is sufficiently funded. If you are funding your City Index CFD account for the first time, there is a minimum deposit of S$150. However, if you are using a credit or debit card to fund your account, do note that the minimum amount is S$250. Other ways to fund your CityIndex account include internet banking, PayNow, cheque, bill payment or wire transfer.

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Commonly Asked Questions

What is a margin indicator?

If you are trading with City Index Singapore, you will see the margin level indicator on the upper right hand corner of your CityIndex trading platforms. It serves to tell you the level of funds you have associated with your open positions. If you do not have enough funds to cover any potential losses, you will be on a margin call. If you find yourself on a margin call, you can improve your margin indicator by depositing more funds or closing or partially close some of your positions.

What CFD means?

CFD is an acronym for contract for difference. When you buy a CFD on shares, metals, commodities, or Forex etc., you do not buy, own, or sell the actual asset. Instead, you are exchanging the differences in the buying and selling price when you open and close your position. CFDs are leveraged financial instruments, meaning that you can gain exposure to a wider financial market with a smaller capital or margin. While you may be able to amplify your potential profits, your potential losses are magnified as well.

Is City Index regulated?

City Index Singapore is regulated by the Monetary Authority of Singapore (MAS), and is a subsidiary of the StoneX Group Inc, which is listed on NASDAQ (NASDAQ: SNEX).

How do I withdraw money from City Index?

To withdraw money from your City Index Singapore account, log in to your CityIndex trading platform, and click on the “Withdraw” section of the funding page. You will then be able to submit an application for funds withdrawal. Withdrawals by card will not be charged fees. However, withdrawals via telegraphic transfers (TT) may involve overseas bank transfer fees. Withdrawal applications may take up to 3 working days to be processed before the wire or card transfers are made. If you may need more guidance on funds withdrawal, do contact the City Index via the website’s customer support page.

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 per share, with a minimum fee of US$15.

What is the account opening charge in City Index?

At City Index, there are no account opening charges. 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 open a City Index online trading account, you need to be at least 18 years of age. There are no income requirements. Unfortunately, U.S. and Canadian citizens are not allowed to open a CityIndex SG account.