Discover our range of products, tools and services with these extensive FAQs.
- How do I apply for an account?
- Do I need trading experience to open an account?
- Do I need a lot of money to open account?
- How long will it take to open an account?
- Will I need to send in any additional documentation to open an account?
- How soon can I trade after opening an account?
How do I apply for an account?
Applying for a CFD trading account with City Index is quick and easy and we have an account for you, whatever your trading goals.
You can apply now in a matter of minutes (subject to review and approval) by completing our simple and secure online application form.
If you would like to find out more about Professional trader status, you can do so here.
As a regulated broker, we are required to ensure that our products are suitable for applicants. We will ask you questions about:
- Your personal details
- Which products you want to trade in your account
- Your financial status
- Your trading experience
It is important that you answer the questions accurately as it may impact your ability to open an account.
Do I need trading experience to open an account?
It is important that you understand the risks involved in trading before you open an account. We strongly encourage new traders to practice using a demo account and educate themselves on how to minimise risk using the education tools available on this website. As part of our suitability criteria, you will have to complete a short questionnaire in order to ensure that our products are suitable for you.
If you think you’re ready for a live account, open one here.
Do I need a lot of money to open account?
Your application will be considered based on your individual circumstances; these include both income and savings. The minimum deposit to open an account is $150.
How long will it take to open an account?
The time taken to open an account depends on the speed at which we can verify your identity. During the application process we will perform an online check to confirm your identity. If you successfully pass the identity check you will be notified immediately; in some cases you made need to provide supporting documentation in order to pass the checks.
Will I need to send in any additional documentation to open an account?
In the majority of cases you will not need to send us any supporting documents, as we should be able to verify your details online. Occasionally we will be unable to confirm your identity electronically (for example if you have moved house recently), and in such cases we will email you and ask that you provide certain documents.
If you are asked for this then we will usually require copies of one document for proof of identity and one for proof of address. You will receive an email detailing specifically what we need.
The following are examples of documentation that could be requested:
- Identification documents: machine readable passport, machine readable national identity card, photocard driving license.
- Proof of address (dated within the last three months): utility bill, council tax bill, bank or credit card statement, mortgage statement.
If we do require documentation from you, you will be able to upload these securely using our online My Account portal. Either use the link provided in the email, or the redirect on the account application page. Please ensure the documents you provide meet the specifications listed.
How soon can I trade after opening an account?
As soon as your account has been opened, and you have funded your account you will be free to trade.
Get started by opening an account.