City Index Group
|Headquarters||London, United Kingdom|
(Group Chief Executive)
|Services||Financial Spread Betting (UK) and CFD Trading worldwide|
Number of employees
|Over 400 worldwide|
|Subsidiaries||City Index Limited, Finspreads, FX Solutions and IFX Markets|
City Index Group is a broker providing online financial spread betting, FX, and CFD trading. It has been part of Gain Capital since October 2014. As well as Britain, it operates in Australia, China, Singapore, Hungary, Poland, Israel and Germany. The group operates the brands City Index Limited, Finspreads, FX Solutions and IFX Markets.
City Index was founded by Chris Hales and Jonathan Sparke in September 1983 and started trading in March 1984 offering spread betting. 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. This app was later also available on Blackberry and Android devices.
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.
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 1997 when he had purchased controlling interest from its original founders.
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. City Index Group relaunched its updated Finspreads brand in January 2013.
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.
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.
iPhone trading platform
In October 2009, City Index launched City Trading, a mobile spread betting application for the iPhone. 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. City Trading is also available on Blackberry OS6 and Android mobiles, the first spread betting and CFD App for these devices.
Desktop Trading Platforms
Desktop Forex Trading from City Index is available on MetaTrader 4 and Advantage Trader. Both of these platforms are available via download, MT4 allows clients to run EA's written in MQL, while Advantage Trader Pro allows scripting of trading systems to be written in C#. Advantage Web is the available web platform.
City Index Trading Academy
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.
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. 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.
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.
- UK City Media profile of City Index
- "Spencer sells City Index to GAIN Capital". Financial Times. October 31, 2014.
- "City Index history".[dead link]
- "About City Index". City Index. Retrieved November 10, 2016.
- "City Index launches mobile trading for Android, Blackberry, Java & Windows devices". UK. 9 February 2011. Retrieved 9 August 2011.
- "Content marketing case study: City Index and The Trading Academy". UK. 12 August 2011. Retrieved 3 September 2013.
- "Trainee cabbie scoops £100,000 in 'X-Factor for traders'". Financial News. UK. 5 December 2012. Retrieved 3 September 2013.
- "City Index Group relaunches Finspreads". fxmm. January 7, 2013.
- Markets profile Archived 2011-07-13 at the Wayback Machine.
- AM - The future of trading is here, and it's mobile
- Money AM Online Finance Awards 2010 results[permanent dead link]
- "City Index launches mobile trading for android, blackberry, java and windows devices". American News Report. UK. 9 February 2011.
- "City Index to run Trading Academy TV series". 13 September 2012.
- "City Index Trading Academy reaches a thrilling conclusion". 19 December 2012.
- "Black Cabbie trainee wins City Index Trading Academy and £100,000". 4 December 2012.