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 an 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 by completing our simple and secure online application form.
If you would like to find out more about Accredited Investor status, you can do so here.
As a MAS-regulated business, we are required to ensure applicants are familiar with our products. We will ask you questions about:
- Your personal details
- 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 application 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 an account?
Your application will be considered based on your individual circumstances; these include both income and savings. The minimum deposit required to open an account is $150 ($250 for card deposits).
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. If you apply with Myinfo using your Singpass account, then (in most cases) we will be able to electronically verify your identify instantly and you will be able to trade after successful funding. If you choose not to apply using Myinfo, then you will need to provide supporting documents in order for your account to be opened.
Will I need to send in any additional documentation to open an account?
For Singaporean residents who apply using Myinfo, in the majority of cases you will not need to send us any supporting documents and your account will be opened instantly, as we will be able to verify your details online. On rare occasions 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 apply without using Myinfo, then you will be required to provide supporting documents before your account can be opened.
If you are asked to provide documents, then we will usually require copies of:
- one document for proof of identity and.
- two documents 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 NRIC/work pass/identity card, machine readable passport, photocard driving license.
- Proof of address (dated within the last six months): utilities 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.