City Index – what we know and have as facts about it; This is a trading name of GAIN Capital UK Limited, which is authorized and regulated by the Financial Conduct Authority (FCA) under the license number 113942; This license allows it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the General Terms document that City Index deals with clients as principal and not as an agent on their behalf. This means that City Index will be the counterparty to all of client trades, or act as a market maker. In general, dealing with market makers involves a conflict of interest because they do not transmit every customer deal and hope that customers will lose. Every loss of customers is their profit.
We also found that there are some posts in forums about imposing high commissions on shares, unjustified termination of accounts when they become profitable, high inactivity fees, higher commissions, inability to log in during important news and quotation at very different prices compared to other brokers.
So far, we have not received any complaints from customers of City Index. If you have any criticism to share with us or feel annoyed by the City Index, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and City Index if you wish.