Pros & cons of City Credit Capital broker

City Credit Fact sheet

City Credit Capital is regulated by the UK’s Financial Conduct Authority, one of the most reputable regulators for Forex brokers in the world right now. Although many UK-based brokers do not offer negative balance protection, City Credit Capital ensures that all client accounts are set back to scratch if they fall below the zero mark. This safety feature will allow traders to have a feeling of safety when trading with leverage. The broker is part of an investor compensation fund and provides insurance for deposits of up to 85,000 GBP. All client cash is kept in segregated bank accounts.

There are two account types offered by City Credit Capital, namely the Mini and Standard account. Both accounts have got some advantages and disadvantages. The minimum deposit for a Mini account starts from 500 USD and offers similar capabilities as the Standard account. However, the minimum deposit for the Standard account starts from 5,000 USD with a maximum leverage that changes depending on the instrument but is capped at 1:30 as per FCA regulations. The trading platform for both accounts is MetaTrader 4 (MT4) which offers advanced professional tools and the broker also offers additional plugins to provide market news and other useful info directly on MT4 charts. A dedicated relationship manager is assigned to all accounts and the broker also provides daily market research with commentary. 

Pros & cons of City Credit Capital account types

Comparing City Credit Capital fees with other brokers

City Credit Capital fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

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City Credit Capital fees compared to AvaTrade fees

City Credit Capital fees compared to Capital.com fees

There are several platforms provided by City Credit Capital including MetaTrader 4 (MT4) and Marketstrader. The broker is focused on new technologies and innovation and always brings cutting-edge technologies to its clients. All trading platforms are fully customized and feature-enriched by the broker to allow traders to see as much important information as possible on the platforms. Like MT4 the Marketstrader platform can also be downloaded for desktop and mobile. Marketstrader is an advanced trading platform offering several advanced features to analyze financial markets and open and monitor positions. Stop-loss and take-profit orders are both available and several inbuilt technical tools will allow traders to manage risks and portfolios with ease. Developing a proprietary trading platform is quite an achievement from the broker’s side. 

Educational materials consist of several articles about Forex trading and other trading-related topics. The broker provides easy explanations of CFDs and tries to help traders with examples for each tutorial. Educational topics include:

• What is Forex - several articles about Forex and its peculiarities.
• What are CFDs - detailed explanations of contracts for difference (CFD).
• Types of orders - simple and clear explanations of market orders, limit orders, and many more.

Additionally to the educational materials that the broker offers, they provide free access to Trading Central signals and research. 

Although City Credit Capital lacks a live chat feature there are still plenty of options for connecting with the broker directly. Phone calls, emails, and an online form will allow traders to get in touch in case issues arise during the trading process or if they have any questions. The broker's office can also be visited if the client happens to live in London. The website and support are provided in three languages. 

City Credit Capital is a UK-based Forex broker that has been in the financial services industry since 2001. The broker offers retirement accounts for UK citizens and a moderate number of tradable instruments including commodities, Forex, futures, and metals. The fees are competitive and low when compared to its competitors, and the broker is well-regulated. City Credit Capital offers excellent mobile and desktop trading solutions to its customers and constantly tries to innovate its services. Although the broker has a low number of tradable instruments and does not offer shares or cryptos, it makes up for this by providing numerous futures for trading. City Credit Capital also provides demo and Islamic account types and has customized trading platforms for all devices and systems. Overall, City Credit Capital is a safe and secure Forex broker that offers high spreads, reasonable fees, innovative trading platforms, and an excellent mobile experience, making it a great choice for traders.