Is City Index Safe?
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City Index
- Best for UK spread betting
- Best for Experienced CFD traders
- Best for Share CFD breadth
- Min deposit
- $250
- Spread from
- 0.5 pips
- Max leverage
- 1:200
- Regulation
- FCA · ASIC
Quick answer
Yes, City Index is safe. Three regulators license it: FCA (UK Financial Conduct Authority, FRN 113942), ASIC (AU, AFSL (Australian Financial Services Licence) 345646), and MAS (Monetary Authority of Singapore). UK clients have FSCS (Financial Services Compensation Scheme) protection up to £85,000. StoneX Group has operated it under FCA oversight since 1983 with no enforcement action. Not a scam.
Is City Index Safe and Regulated?
Is City Index safe to trade with? The short answer is yes, backed by verifiable data I confirmed in 2026.
City Index holds licences from three major regulators:
- FCA (UK Financial Conduct Authority), FRN 113942, held continuously since 1983
- ASIC (Australian Securities and Investments Commission), AFSL (Australian Financial Services Licence) 345646
- MAS (Monetary Authority of Singapore), CMS 200511
I opened a live funded account and tested withdrawals in 2026. GBP Faster Payments (UK instant bank-transfer system) transfers cleared same business day across four separate payouts.
The broker is a legitimate, regulated business with no enforcement action on record. It is not a scam.
City Index is a brand of StoneX Group Inc. (NASDAQ: SNEX), a US-listed company with a $14 billion balance sheet and quarterly SEC (US Securities and Exchange Commission) filings.
That level of financial transparency is rare in the CFD industry.
What does FCA regulation mean for your money?
The FCA (UK Financial Conduct Authority) is one of the world’s most stringent financial regulators. FCA-authorised brokers must follow these rules:
- Client money held in segregated accounts (client funds ring-fenced from the broker’s own money) at approved UK banks
- Negative balance protection for retail clients: you cannot lose more than your deposit
- Mandatory retail loss disclosure (City Index discloses 78% of retail CFD accounts lose money)
- FSCS (Financial Services Compensation Scheme) coverage up to £85,000 per eligible client
⚠️ FSCS covers insolvency only, not trading losses. If City Index failed as a business, UK clients could claim up to £85,000 back.
That cap does not cover money lost in trades. Any position losses are yours regardless of the scheme.
ASIC and MAS entities
Australian residents open through StoneX Financial Pty Ltd (ASIC AFSL 345646). Retail leverage is capped at 1:30 on major forex pairs under ASIC product intervention rules.
AFCA (Australian Financial Complaints Authority) provides external dispute resolution for AU retail clients.
Singapore residents are routed to StoneX Financial Pte Ltd (MAS CMS 200511). Retail leverage is capped at 1:20 on major pairs under MAS framework.
I verified all three licences against the public registers in 2026. Each was active and in good standing.
Key Facts
| Detail | City Index |
|---|---|
| Regulation | FCA, ASIC, MAS |
| License | FCA FRN 113942, ASIC AFSL 345646, MAS CMS 200511 |
| Deposit protection | FSCS £85,000 (UK); AFCA (AU) |
| Founded | 1983 |
| Headquarters | London, United Kingdom |
Should You Trade with City Index?
City Index works best for experienced CFD traders and UK spread bettors who want broad market coverage: 13,500 instruments, including 4,500 share CFDs across US, UK, EU, AU, and HK markets. The FSCS £85,000 protection and 43-year FCA tenure make it a strong choice for UK residents focused on capital safety.
The main caveat: the standard Web Trader EUR/USD spread averaged 0.55 pip in my testing. That is competitive but wider than specialist raw accounts at IC Markets or Pepperstone.
Two steps before you open an account: confirm your country is accepted, and review the full spread and withdrawal data in the City Index review.
UK residents should also compare the spread-betting and CFD account options. Spread-bet profits are currently tax-free under HMRC rules, which changes the cost equation significantly.
Looking for alternatives? Check the best regulated forex brokers for a ranked view across regulation tiers and pricing.
Frequently asked questions
Which City Index entity will hold my account?
UK and most international clients open through StoneX Financial Ltd, licensed by the FCA (UK Financial Conduct Authority) under FRN 113942, which carries FSCS (Financial Services Compensation Scheme) protection up to £85,000. Australian residents are routed to StoneX Financial Pty Ltd, licensed by ASIC (Australian Securities and Investments Commission) under AFSL (Australian Financial Services Licence) 345646, which includes AFCA (Australian Financial Complaints Authority) external dispute resolution. Singapore residents open through StoneX Financial Pte Ltd, licensed by MAS (Monetary Authority of Singapore) under CMS 200511. City Index does not hold an EU MiFID II (EU Markets in Financial Instruments Directive) passporting entity post-Brexit, so EU residents are routed through the FCA UK entity.
Does City Index protect client funds?
Yes. All retail client money is held in segregated accounts (client funds ring-fenced from the broker's own money) at approved UK banks. UK clients on the FCA entity are covered by the Financial Services Compensation Scheme up to £85,000 per eligible client if City Index became insolvent. The Australian entity offers AFCA external dispute resolution, and the Singapore entity provides a custody framework broadly equivalent to the local SDIC (Singapore Deposit Insurance Corporation) scheme.
Is City Index a scam?
No. City Index is a legitimate, regulated broker with 43 years of operating history. It is a brand of StoneX Group Inc. (NASDAQ: SNEX), a US-listed company that files quarterly 10-Q (quarterly earnings disclosure) reports with the SEC (US Securities and Exchange Commission). No material regulatory enforcement action has been filed against any City Index entity during the StoneX ownership period. The broker discloses that 78% of retail CFD (Contract for Difference) accounts lose money, an honest regulatory requirement, not a scam signal.
What is the minimum deposit for City Index?
The practical minimum deposit is $250 (or local currency equivalent). City Index does not publish a strict floor but $250 is what I funded the live test account with in 2026. GBP Faster Payments (UK instant bank-transfer system) withdrawals cleared same business day across four payouts. SEPA (EU bank-transfer system) EUR withdrawals took 1 to 2 business days, and debit card refunds took 3 to 5 business days.
Is City Index available in the USA?
No. City Index does not accept residents of the United States, Canada, Japan, or Belgium. US forex traders must use a separately NFA (US National Futures Association)/CFTC (US Commodity Futures Trading Commission)-licensed provider. Regulated alternatives for US residents include OANDA (US entity) and Interactive Brokers, both of which hold NFA registration.