Funding your FX trading account FAQs

Find out what you need to know about funding your trading account, including which debit and credit cards are accepted, adding a new card, what to do if your deposit is declined and more.
Funding your account
FX FAQs Funding your account
  1. How much money do I need to deposit in order to open a City Index trading account?
  2. How do I transfer funds into my City Index account?
  3. Which debit and credit cards are accepted?
  4. How do I add a new card to my FX account?
  5. Can I deposit funds in another currency?
  6. Are there charges for making deposits into my City Index FX account?
  7. Do you send a confirmation of successful deposits?
  8. What is the maximum number of cards that I can use?
  9. My bank has declined my deposit. What should I do?

How much money do I need to deposit in order to open a City Index trading account?

The minimum deposit to open a City Index trading account is £100.

How do I transfer funds into my City Index account?

You can fund your account via the MyAccount portal which you can access via the platform. You'll see a number of options including: 

  • Fund your account
  • Withdraw from your account
  • Add a card to your account
  • Remove a card from your account 

Select the appropriate link to make a payment.

You can also fund your account by direct bank transfer. Our bank details and information about depositing funds into your account via direct bank transfer can be found in the MyAccount portal. Please note that we are unable to accept payments from third parties; any such transfers will be rejected and returned to the original source.

Please note that we do not accept cash payments paid directly into our bank account. 

Which debit and credit cards are accepted?

Debit cards: Visa, MasterCard, Maestro and Electron

Credit cards: Visa, MasterCard

Please note: Citibank cards cannot be used to fund accounts held with any spread betting provider. If you wish to fund from a Citibank account you will need to do this via BACs or CHAPs. 

How do I add a new card to my FX account?

You can add a new card or delete existing card details in the MyAccount portal. You cannot, however, amend details for cards that have already been registered with us. To amend details for an existing card, you need to first delete the old card from your account and then create a new card with the updated information.

Can I deposit funds in another currency?

Funds can only be deposited in the base currency of the account.

Are there charges for making deposits into my City Index FX account?

It is free to make deposits from debit and credit cards.

Do you send a confirmation of successful deposits?

We do not currently offer this service, but as soon as you have made a deposit, the funds will be reflected on your trading account.

What is the maximum number of cards that I can use?

We currently allow clients to register and use up to three cards on their account at any time.

My bank has declined my deposit. What should I do?

Your bank may decline your transaction for a number of reasons, but we are not told why. These may include:

  • Incorrect expiry date
  • Incorrect CVC Number (the 3-digit security code on the back of your card)
  • Invalid card number
  • Insufficient funds
  • Out of date address details.

To resolve this, you will need to contact your card issuer.