| City Index Minimum Deposit Summary | |
|---|---|
| City Index Minimum Deposit | £0 |
| Deposit Methods | Bank Transfer, Debit/Credit Cards, E-Wallets |
| Account Types | Standard Account, Spread Betting Account, Professional Account, Corporate Account and MT4 account |
| Deposit Fees | No Fees. |
| Account Base Currencies | GBP, USD, EUR |
| Withdrawal Fees | No Fees. |
| Visit City Index | |
City Index minimum deposit is £0, however each deposit method has it’s minimum deposit.
Here is detailed review of the minimum deposit requirements on City Index in the UK, including the processing time, applicable fees, step-by-step guide to deposit on the platform and available payment methods.
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What is the minimum deposit for City Index
City index does not have a fixed minimum deposit amount, they recommend that you deposit enough money to meet your margin requirements. However, there is a minimum deposit for the different deposit methods.
The minimum deposit for Cards is £100, for PayPal its £500, and for Bank transfer, there is no fixed minimum deposit amount.
City Index offers 2 main account types, CFD and Spread Bet, and both have same minimum deposit requirements.
Accepted Deposit Methods on City Index UK
City Index offers a number of options for depositing funds. Here’s what you can use:
1) Credit/Debit Cards (Visa, Maestro, Mastercard): You can use your bank cards to add funds to your City Index trading account. The minimum amount for this method is £100, the deposits are credited instantly and no deposit fees apply.
You can also withdraw funds to your bank cards, the minimum amount allowed is also £100, it takes 3-5 working days for you to receive the funds, and no withdrawal fees are charged.
2) Bank Transfers: Deposits via bank transfer is another option you can use to add funds to your trading account, the minimum amount is £0, it usually takes about 1-2 business days for the funds to reflect in your trading account, and no deposit fees is charged.
Funds can be withdrawn from your trading account to your local bank account as well, the minimum amount for withdrawal is £100, no fees are charged for withdrawal, and it usually take about 1-2 business days for you to receive the funds.
3) E-wallets (PayPal): City Index accepts deposit via PayPal, the minimum amount for deposits via PayPal on City Index is 50 GBP, such deposits are usually credited instantly or can take up to 48 hours. No deposit fees for this method.
City Index allows you to withdraw to PayPal as well, only after you have used it to deposit funds, the minimum amount is £100 and can take 3-5 days before you receive the funds. No withdrawal fees are charged.
Note: 69% of traders’ accounts lose money with this broker
City Index Deposit Methods Table
Here is a summary of payment methods accepted by City Index for deposits.
| Deposit Methods | Availability | Minimum Deposit | Charges | Processing time |
|---|---|---|---|---|
| Internet banking/bank transfers | Yes | £0 | Free | 1-2 business days |
| Cards | Yes | £100 | Free | Instant |
| E-wallet | Yes (PayPal) | £50 | Free | Instant |
City Index Deposit Rules
1. Deposit Fees: No deposit fees are charged on City Index, this applies all the available payment methods. Note that although City Index charges no fees, your bank, card issuer or payment processor may charge an independent fee.
2. Deposit Time: The time it takes for deposits to be credited depends on the payment method you used. Card deposits are deposited instantly, deposits via e-wallet (PayPal) are instant and can sometimes take up to 48 hours to reflect on your trading account. Bank transfers take 1-2 business days to be credited.
3. Payment Source: City Index does not accept deposits from third parties, all deposits to your trading account must come from sources that you own, the names on the cards, bank account or wallet must tally with the name on your trading account.
The broker usually requires you to provide verification documents when you first create an account on the platform.
How do I add funds to my City Index account?
Step 1) Log in to the City Index trading platform.
Step 2) Click on ‘Account Funding’ option from the menu.
Step 3) Select ‘Add funds’ and choose your preferred payment method.
Step 4) Enter the amount you want to deposit and submit.
Comparison Of City Index Minimum Deposit With Other Brokers
Here is a comparison of City Index minimum deposit with that of their competitors.
| Broker | Minimum Deposit |
|---|---|
| City Index | £0 |
| HF Markets | £0 |
| CMC Markets | £0 |
| Capital.com | $20 |
| Trade Nation | £0 |
| FxPro | $100 |
| FXCM | £50 |
Note: 69% of traders’ accounts lose money with this broker
City Index Minimum Deposit FAQs
What is the minimum deposit required to open a City Index account?
City Index has no required minimum deposit, you can deposit any amount to activate a City Index account and start trading. However to deposit with cards, the minimum deposit amount is £100, with PayPal, its £50 and when you use bank wire, there is no fixed minimum deposit amount.
Are there any deposit fees with City Index?
No, City Index doesn’t charge any deposit fees when you add funds to your trading account, this applies to all payment methods, however, your bank, card issuer or payment processor may charge an independent fee.
How long do deposits take to reflect in my City Index account?
The time it takes for your deposits to be credited on City Index depends on the payment method used. Card deposits are instantly credited to your account, e-wallets (PayPal) are also instant but may take up to 48 hours, deposits via bank transfers typically take 1 to 2 business days.
Does City Index charge inactivity fees?
Yes, City Index will charge inactive account fees if your account has been dormant for more than 36 months, that is, if you do not use your account to open a trade. The inactivity fee is £12 per month after the 36 months. However, if your account balance is zero, you will not accrue any negative balance.
How do I withdraw from City Index?
Log in to your City Index platform and click on ‘Account Funding’, then select ‘Withdraw Funds’ and choose your preferred payment method for withdrawal, enter the amount you want to withdraw and submit your withdrawal request.
What payment methods does City Index accept for deposits?
Bank transfer, e-wallet (PayPal), cards (credi/debit) are payment methods you can use to add funds or withdraw funds on City Index. The processing time depends on which payment method you select.
Does the minimum deposit change based on the City Index account type?
No, all account types have same minimum deposit amount, however, different payment methods have different minimum deposit amounts, while cards and bank transfer require a minimum deposit of £100, you can deposit as little as £10.
How long do withdrawals take on City Index?
3-5 days is the typical time it takes for you to receive your money after requesting a withdrawal, this applies to cards and e-wallet (PayPal). Withdrawals to bank accounts are received between 1-2 business days.
Note: Your capital is at risk