City Credit Capital Forex broker review - A broker that is constantly innovating

cccapital.co.uk
nika
Written by:
Av
konstantinrabin
Calendar
Written on:
19 April 2023
Date
Last edit:
21 February 2024
Our rating:
6.06

6.06

City Credit Capital Forex broker review - A broker that is constantly innovating

cccapital.co.uk
nika
Written by:
Calendar
Written on:
19 April 2023
Date
Last edit:
21 February 2024
Our rating
6.06

6.06

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. % of our retail investor accounts lose money when trading CFDs with City Credit Capital. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
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Main summary

Established in 2001 in the UK, City Credit Capital is a Forex broker with many years of experience in the financial services industry. The broker offers retirement accounts for UK citizens and is an award-winning broker. City Credit Capital offers a moderate number of tradable instruments and a few more futures in commodities and indices. The fees are competitive and low when compared to competitors. The broker is well-established and well-regulated. City Credit Capital constantly tries to innovate its services and offers excellent mobile and desktop trading solutions to its customers. We will review City Credit Capital in more detail below and will provide you with all the info that you need to know. 

Pros & cons of City Credit Capital broker

  • Ability to deposit and withdraw with $0 fees
  • Offers access to MetaTrader 4
  • Fast and digital account opening/verification
  • Offers retirement account capabilities
  • Numerous futures are provided for trading
  • A low number of tradable instruments
  • No shares or cryptos are offered

City Credit Fact sheet

Main features
Regulations UK
Fees on deposits 0 USD
Fees on withdrawal 0 USD
Inactivity fees 0 USD
Minimum deposit 500 USD
Minimum account activation 500 USD
Number of available assets 19
Leverage up to 1:33
Available trading markets Commodities, Forex, Futures, Metals
Account currencies GBP, USD, EUR
Demo account Yes
Live account types Mini, standard
Islamic account Yes
Security
Negative balance protection Yes
Part of compensation fund Yes
Keeps funds on segregated bank account Yes
Assets
Forex 17
Shares 0
Cryptocurrencies 0
Indices 0
Commodities 2
Total 19
Fees & spread
Forex From 2 pips
Shares N/A
Cryptocurrencies N/A
Indices N/A
Commodities N/A
Software
Platforms MetaTrader 4
Mobile trading support Yes
Mac device support Yes
Commodities Yes
Payment systems
Payment methods Bank Transfer, Credit/Debit Card, Neteller, Skrill
Minimum deposit Bank Transfer, Credit/Debit Card, Neteller, Skrill
Minimum withdrawal Bank Transfer, Credit/Debit Card, Neteller, Skrill
Withdrawal processing time Instant
Time to open an account 1 day
Show all

Safety & Security of City Credit Capital

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.

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Account types available for traders on City Credit Capital

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

ProsCons
Enables traders to use demo and Islamic account typesLow leverage of up to 1:30
There is an account without spread markupsThe minimum lot size is 0.1
Cutting-edge customized trading platforms are available for all devices and systemsHigh spreads from 2 pips

Fees & commissions review of City Credit Capital

Comparing City Credit Capital fees with other brokers

City Credit Capital fees compared to Interactive Brokers fees

Type of FeeCity Credit CapitalInteractive Brokers
EUR/USD SpreadFrom 2 pipsFrom 0.6 pips
Fees on Deposits0 USD1%
Inactivity fee0 USDNo*

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

City Credit Capital fees compared to CM Trading fees

Type of FeeCity Credit CapitalCM Trading
EUR/USD SpreadFrom 2 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 15 EUR/USD per month after 60 days of inactivity

City Credit Capital fees compared to plus500 fees

Type of FeeCity Credit Capitalplus500
EUR/USD SpreadFrom 2 pipsVariable
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 10 USD per month after 3 months of inactivity

City Credit Capital fees compared to XM fees

Type of FeeCity Credit CapitalXM
EUR/USD SpreadFrom 2 pipsFrom 0.6 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 15 USD after 12 months, +5 USD/m

City Credit Capital fees compared to AvaTrade fees

Type of FeeCity Credit CapitalAvaTrade
EUR/USD SpreadFrom 2 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 50 USD after 3 months, 100 USD administration fee after a year

City Credit Capital fees compared to Capital.com fees

Type of FeeCity Credit CapitalCapital.com
EUR/USD SpreadFrom 2 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee0 USDYes, 50 USD after 3 months, 100 USD administration fee after a year

Trading platforms and mobile trading reviewed at City Credit Capital

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. 

Education and research tools offered by City Credit Capital

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. 

Customer support of City Credit Capital

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. 

Conclusion

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.

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FAQs about City Credit Capital

Is City Credit Capital a trustworthy broker?

City Credit Capital, despite offering a rather small number of tradable assets, is a very reliable and well-regulated broker from the UK. Being regulated by the FCA is not an easy thing to get done and the broker has been on the market for more than 20 years giving it a huge amount of legitimacy. Additionally, the broker innovates its platforms constantly and offers a retirement investment account for UK citizens. By all measures, the broker seems a very legit, serious, and reliable Forex and CFDs provider with several awards under its name. 

What else can I trade on City Credit Capital’s platforms except for Forex?

City Credit Capital offers several other assets including futures for commodities and indices and CFDs for commodities. Commissions are low and the broker is a robust trading platform provider with low latency and quick execution speeds. There are 13 total futures available.