Raw FX account: zero spread on major FX pairs

Trade major FX pairs including AUD/USD, EUR/USD, GBP/USD and USD/JPY from zero pips and AU$2.50 commission.*

  • Lower for longer

    Trade with an account with spreads from 0.0 pips*

  • Award-winning platforms

    Available on MT4 as well as our WebTrader and mobile apps

  • Low commissions

    Starting from AU$2.50**

*Under certain circumstances zero spreads will not be possible.
**From 1 May 2023, commissions on FX pairs from AU$2.50 per AUD$100k on Webtrader (or base currency equivalent). Please see our FAQs for FX commissions on MT4. Please see our FAQs for FX commissions on MT4.

What is Raw FX?

A raw spread trading account provides direct access to real market prices, without spreads. Sometimes also referred to as an Electronic Communication Network (ECN) account, it’s typically used by traders who want the best possible trading conditions, as it allows you to trade on FX pairs without being charged a spread when you open and close your position. However, some raw spread accounts charge commission instead of spread. With City Index, spreads start from 0.0 pips with our Raw FX account*.

How to trade with City Index

Why open a Raw FX account with City Index?

  • Financial strength and stability
    A globally trusted broker
    Trade with a trusted market leader with over 40 years of experience in forex, regulated in Australia since 2006, and part of StoneX, a Nasdaq listed Fortune 100 company.
  • Pricing
    Institutional-grade liquidity
    As part of StoneX you benefit from the liquidity of our Tier 1 bank partnerships.
  • Low Margin Rates
    Advanced charting
    Take advantage of the industry-leading TradingView charting package to trade global currency markets, with 80+ indicators and one-click trading.

Competitive pricing

Our performance in numbers

0.1 m+
Active clients*
1000 +
Markets
0.55 s
Average execution
1 +
Staff
1
Years' experience

*StoneX retail trading live and demo account holders globally since Q4 2020.

Why trade with City Index?

Over one million account holders* use us to trade the financial markets. Here's why.

*StoneX retail trading live and demo account holders globally since Q4 2020.

Performance Analytics
Performance Analytics

Gain even deeper insight into your trading behaviour and performance across four key metrics with Performance Analytics, powered by Chasing Returns.

Performance Analytics
Risk Management
PlayMaker

Be in control of your trading every step of the way by protecting your capital from excessive risk or emotion

PlayMaker
SMART Signals
SMART Signals

Get trade ideas driven by statistics – not opinions. Our engine analyses dozens of global markets based on years of historical data

Trade SMART
Dedicated customer service
Reliability
With 24/5 dedicated client support, we’re always on hand to help – and 99.99% of all valid trades are executed by our market-leading trading technology.
View our trading platforms

Benefits of trading with zero pip spreads

The advantage of trading with zero pip spreads is simple: it lowers the cost of opening or closing the position for the trader. Instead of paying a spread on their position, they enter at the direct market price. Any potential gains from the position are slightly higher because there’s no spread to cover before the position moves into profit.

However, a lot of raw spread accounts feature commission charges instead of spread charges. With our Raw FX account, commissions start from AU$2.50, so it’s important to understand your trading costs when opening and closing a position.

*From 1 May 2023, commissions on FX pairs from AU$2.50 per AUD$100k on Webtrader (or base currency equivalent). Please see our FAQs for FX commissions on MT4. Please see our FAQs for FX commissions on MT4.

Open Raw FX account
Trade Forex

Powerful trading tools

  • Advanced Charts
    Economic Calendar
    Unemployment figures, company earnings reports and elections – keep track of key announcements and other events that could affect the markets.
  • Performance Analytics
    Performance Analytics
    Track your own trading performance and uncover your most effective trading behaviours with the in-depth Performance Analytics tool from Chasing Returns.
  • 智能信号 Smart Signals
    SMART Signals
    Get trade ideas driven by statistics – not opinions. Our SMART Signals engine analyses dozens of major global markets based on years of historic market data.
  • Trading Central
    Trading Central
    Stay ahead of the curve with our technical analysis research portal from Trading Central. Identify over- and under-bought markets to spot potential trading opportunities.

  • Alerts
    Alerts
    Sign up for a City Index account to get free volatility alerts via SMS, email or in-platform, so you can receive notifications of any significant movements.

Standard account vs Raw FX account

Whether you should use a standard account or Raw FX account depends on what type of trader you are and your individual style. Raw FX accounts are typically designed for dedicated FX traders looking to place a higher volume of forex trading. But if you have any questions, please do not hesitate to reach out to your designated account managers who would be able to suggest the best account type for your trading needs.

Compare the various different features of trading FX via our Standard and Raw FX accounts.

Spread betting Standard
Forex Raw FX
Typical EUR/USD spread
From 0.5
From 0.0
Commission
0
From AU$2.50*
Scalping and Hedging allowed?
Yes
Yes
MT4 Compatible
Yes
Yes
Account base currencies
AUD, USD
AUD, USD
Markets
All
All
TradingView Connectivity?
Yes
Yes
Min trade size (lots)
0.01
0.01

*Under certain circumstances zero spreads will not be possible. From 1 May 2023, commissions on FX pairs from AU$2.50 per AUD$100k on Webtrader (or base currency equivalent). Please see our FAQs for FX commissions on MT4.

Open an account today
  1. Register
    an account
  2. Deposit
    and fund securely
  3. Start trading
    on 6,300+ markets
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Raw FX Trading Account FAQs

Which account is best for you?

That depends on what type of trader you are and your individual style. But if you have any questions, please do not hesitate to reach out to your designated account manager who would be able to suggest the best account type for your trading needs. Take a look at the table below to see which account might be suitable for you:

  Standard  Raw FX  
Typical EUR/USD spread From 0.5
 From 0.0
Commission $0 From AU$2.50*
Scalping and Hedging allowed? Yes Yes
Account base currencies AUD, USD AUD, USD
Margin close out level 50% 50%
Markets All All
TradingView Connectivity? Yes Yes
MT4 Compatible Yes Yes
Min trade size (lots) 0.01 0.01
*Under certain circumstances zero spreads will not be possible. From 1 May 2023, commissions on FX pairs from AU$2.50 per AUD$100k on Webtrader (or base currency equivalent). Please see our FAQs for FX commissions on MT4.
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Can I maintain a standard and Raw FX account simultaneously?

Absolutely! You are free to try the different account types we offer and maintain multiple accounts at the same time. Moving funds between different accounts is simple, free, and instantaneous via your client dashboard. You can maintain up to 5 accounts at the same time without issue. If you’re looking for more, please reach out to your account manager or our client services team to see if we can accommodate your request.

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How is commission calculated? Or is there a minimum commission?

Commissions are calculated based on the volume of the trade and are pro-rated. There are no minimums - commissions will be charged only based on the volume of your trade.

WebTrader

The commission charged on an AUD 100,000 trade is AUD 2.5 for professional clients and AUD 3 for retail clients. Therefore, if you trade a mini lot or AUD 10,000, the commission charged will be AUD 0.25 for professional clients and AUD 0.30 for retail clients.

MetaTrader

Commissions are charged per lot on MT4. The commission rates are AUD 3.5 per standard lot for retail and professional clients. Therefore, if your trade size is 0.1 lots (or a mini lot), the commission charged will be AUD 0.35, assuming the base currency of your trading account is AUD.

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What is the difference between spreads and commission?

The spread refers to the difference between the buy and sell price of a market, while commissions are a nominal fee to be paid to the broker when opening and closing a trade. Commissions are always charged based on the base currency of your account, while spreads are charged based on the quote currency you are trading. For example, for the EUR/USD currency pair, USD would be the quote currency.

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What are the FX Commissions for Web Trader and MT4?

  WebTrader MT4

Professional Accounts

 AU$2.5 per AU$100,000 (AU$5 round turn)   
  • AUD trading account: AU$3.5 per lot (AU$7 round turn)
  • USD trading account: US$2.5 per lot (US$5 round turn)

Retail Accounts

 AU$3 per AU$100,000 (AU$6 round turn)   
  • AUD trading account: AU$3.5 per lot (AU$7 round turn)
  • USD trading account: US$2.5 per lot (US$5 round turn)
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