City Index Group

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City Index Group
Type Private
Industry Financial Services
Founded 1983 (1983)
Headquarters London, United Kingdom
Key people Mark Preston
(Group Chief Executive)
Services Financial Spread Betting (UK) and CFD Trading worldwide
Owners Gain Capital
Employees Over 400 worldwide
Subsidiaries City Index Limited, Finspreads, FX Solutions and IFX Markets
Website www.cityindex.com

City Index Group is a broker providing online financial spread betting, FX, and CFD trading.[1] It has been part of Gain Capital since October 2014.[2] As well as Britain, it operates in Australia, China, Singapore, Hungary, Poland, Israel and Germany. Today, the group consists of the City Index Limited, Finspreads, FX Solutions and IFX Markets brands.[3]

History[edit]

City Index was established in 1983. In 2001, the company launched its CFD Trading function in the UK. During 2005, City Index Group acquired the IFX Group, in doing so procuring FX broker IFX Markets and spread betting provider Finspreads.com. The following year, the group opened offices in Sydney, Singapore and Shanghai to serve clients across the Asia Pacific region. In 2008, City Index Group purchased FX Solutions, a US market leader in retail and white label foreign exchange services. 2009 saw City Index launch City Trading, the first spread betting and CFD trading application for the iPhone.[4] This app is now available on Blackberry and Android devices.[5]

In Autumn 2012, City Index ran the Trading Academy - a six-week web series produced to demonstrate that with the right education, technical support, dedication and discipline, aspiring traders from a range of backgrounds and experience levels can be taught how to trade the financial markets.[6][7]

In November 2014 the company was sold to US based rival Gain Capital for $118 million by Michael Spencer who had owned the company since it was founded.[2]

Brands[edit]

City Index Limited - Established in 1983 as one of Britain’s first spread betting providers, the company carried on growing - and in 2001 launched its Contract for difference (CFD) trading function in the UK.

Finspreads - Finspreads is a leader in interactive online spread betting starting in 1999 before it was acquired by the Group in 2005.[4] City Index Group relaunched its updated Finspreads brand in January 2013.[3]

FX Solutions - Foreign exchange broker FX Solutions was founded in 2001 with five employees. In 2003 the company began live trading on its online trading system and in 2008 was acquired by the City Index Group. The company was recognised as one of America's fastest growing private companies by Inc. magazine in 2005, 2006 and 2007.[8]

IFX Markets - As a provider of margined Forex, their electronic trading platform provides real-time tradeable prices in 48 spot currency pairs, including gold & silver and 40 IMM and FINEX EFP contracts.[9]

iPhone trading platform[edit]

In October 2009, City Index launched City Trading, a mobile spread betting application for the iPhone.[10] The innovation contributed to the company's entire mobile trading offering being named 'Best Mobile Trading Platform' at the MoneyAM Online Finance Awards 2010 and 2011.[11] City Trading is also available on Blackberry OS6 and Android mobiles, the first spread betting and CFD App for these devices.[12]

City Index Trading Academy[edit]

In October 2012, City Index launched City Index Trading Academy – an online TV series and competition aimed to demonstrate that with education and support, anyone can learn to trade the global markets.[13]

The competition took place over six weeks as eight traders competed for a £100,000 cash prize. The series was broadcast on City Index’s website and syndicated on YouTube.[14] City Index Trading Academy was won by trainee Black Taxi Cab driver John Walsh, who delivered a return on investment of 23.6% in the finale.[15]

Commercial partnerships[edit]

City Index has partnered with a number of financial institutions to provide their clients with forex, Contract For Difference (CFD) and spread betting services under a fully branded white-label product solutions.

References[edit]

External links[edit]