About CityIndex
Overview
CityIndex is a broker for forex, CFDs and spread betting. The UK company was formed in 1983, making it an industry veteran with over thirty years of experience. The Singapore entity was founded on 25 June 2019 and is registered at 1 Raffles Place, #12-62 One Raffles Place – Tower 2 Singapore 048616. However, we are not aware of any specific regulatory authorisation for this Singapore branch.
Regulation and Safety
Our records indicate that CityIndex (Singapore) holds no recognised regulatory licence from any major financial authority. This is a significant concern for traders, as regulatory oversight provides important protections, including segregation of client funds and access to dispute resolution schemes. In our assessment, the absence of regulation elevates the risk profile substantially, and traders should approach with extreme caution.
Products and Services
The broker claims to offer forex, CFDs and spread betting, but we have not been able to verify the specific instruments or trading conditions from independent sources. The company description suggests a broad range of products, including indices, commodities, and shares, but without official website data or verified independent information, traders should exercise caution. We recommend obtaining detailed product information directly from the broker before committing capital.
Account Types and Platforms
Information about account types and trading platforms is not available from our verified sources. The broker may offer MetaTrader or proprietary platforms, but we cannot confirm this. Traders should seek detailed information about minimum deposits, leverage, and trading tools directly from the broker. The lack of publicly available details on account specifications adds to the overall uncertainty.
Funding and Withdrawal
Funding methods and withdrawal procedures are not documented in our records. We recommend obtaining this information from the broker before committing capital. The absence of clear information on deposits and withdrawals is a further red flag, as it could indicate potential difficulties in accessing funds. Traders should verify the availability of secure payment methods and any associated fees.
Conclusion
CityIndex (Singapore) presents itself as part of a well-known global brand, but the local entity's lack of regulatory oversight is a major concern. Traders should conduct thorough due diligence, including contacting the broker directly for documentation and verifying any claims made. FXCanary's risk score of 75/100 (Severe) underscores the high level of risk associated with this unregulated entity.
Overview compiled by FXCanary from regulatory records and public data. full CityIndex review