City Index Journal
|Journal status: |
City Index |
- Full listing profile: City Index broker profile
Is City Index safe?
- Investor protection: UK Financial Services Compensation Scheme (FSCS)
- Regulation: FCA UK, ASIC Australia, MA Singapore
- Publicly traded: NASDAQ:SNEX, NYSE:GC
- Segregated account: yes
- Guaranteed Stop Loss: yes
- Negative Balance Protection: yes
Is City Index trusted?
- Information transparency: high
- Customer service: prompt, helpful
- City Index website: semi-detailed, updated
- City Index popularity (by visitor count): average
How City Index works
Guaranteed stop loss orders Guaranteed stop loss orders guarantee your specified level of execution, regardless of any gapping in the market. They incur a small premium.
Q1) What is Central Counterparty Clearing? Central Counterparty Clearing is a model of trading in which a clients’ credit exposure to his/her broker is transferred to a central clearing house. In practical terms, in a Central Counterparty Clearing model when we take a trade from a client we immediately execute a back-to-back trade with a Central Counterparty Clearing house and move all or part of the client’s margin capital to the Clearing House – this effectively transfers the client’s credit exposure from us to the Clearing House. Client funds remain fully segregated from those of the firm, and those of the Clearing House, in accordance with FCA CASS rules. Client funds protection remains unchanged.
2.4 We will deal with you as principal and not as agent on your behalf. This means that any Trades are agreed directly between you and us and we will be the counterparty to all of your Trades.
4.15 Trades placed on a Centrally Cleared Market will be Centrally Cleared through the Clearing House Service in respect of that Centrally Cleared Market and will be subject to the relevant Rule Set. For such Centrally Cleared Markets, the Trades will be passed to the clearing house in order for that Trade to be Accepted for Clearing. We will remain as your counterparty to each Centrally Cleared Trade and the relevant Clearing House will not be your counterparty.
13.3 If your Account shows a negative Cash balance, and notwithstanding any other right that we may have under this Agreement or applicable laws and regulations, we may (and will, where and to the extent this is required by applicable laws and regulations) waive our right to claim payment of any amount due and payable to us under this Agreement and return the Cash balance to zero.