Start forex trading

Want to learn how to start forex trading? Simply follow our three-step guide and you could be placing your first forex trade within minutes.

Step 1: Open a City Index forex trading account 

Open an account with us in order to start trading forex. Our application process is simple and secure, and you can apply for an online account at any time by filling in our application form.

Click here to get started. 

Once we’ve successfully completed the verification process, we’ll send you an account number by email to confirm that your account is open.  

Did you know? We have a range of educational forex guides to help you trade successfully. Get started with our how to trade forex guide – or learn more about how the forex market works.

Step 2: Fund your account

Once your account is open, you’ll need to transfer funds into it to start trading. You can do this via a range of convenient payment methods, including debit/credit card, PayNow or bank transfer via the 'Account' tab in the trading platform. And if you’re trading on mobile, you can fund via the City Index app too. The minimum deposit is $250 for debit/credit card.

For more information on how you can transfer funds in and out of your account, take a look at the funding and withdrawals section of our help and support portal.

Step 3: Start trading

Now you have an online trading account and have deposited funds, you can start trading. Simply log in, pick your pairs and open a position.

You’ll be able to access a huge range of tools to help you seize opportunities and develop your trading skillset:

Once you’ve chosen a pair to trade, you can find full market details by clicking on the Market Information icon in the trading platform. Or on mobile, tap ‘INFO’ above any market’s chart.

How to place an FX trade

To open your first forex position, simply tap on your chosen market to bring up its chart. From here, you can decide whether to buy the pair – which opens a long position – or sell it to go short.

This will bring up the deal ticket, where you can set the size of your position and add any stop-loss or take-profit orders.

Stop-loss and take-profit orders are useful ways to manage your risk when trading. They’ll automatically close your position when it hits a predefined amount of loss or profit.

Learn more about managing forex risks.

Finally, hit ‘Place Trade’ to execute your order and open your position. You should now see the market in your portfolio, where you can monitor profit and loss – then edit or close your trade.

For a step-by-step guide to placing a trade in Web Trader, take a look at our short video: