| City Index Minimum Deposit Summary | |
|---|---|
| City Index Minimum Deposit | S$150 |
| Deposit Methods | Bank Transfer, Debit/Credit Cards, E-Wallets |
| Account Types | Standard Account, Corporate Account, DMA Account, Accredited Investor Account and MT4 account |
| Deposit Fees | No Fees. |
| Account Base Currencies | SGD, USD, EUR |
| Withdrawal Fees | No Fees. |
| Visit City Index | |
City index has a minimum deposit of SGD 150.
Here is detailed review of the minimum deposit requirements on City Index in Singapore, including the processing time, applicable fees, step-by-step guide to deposit on the platform and available payment methods.
What is the minimum deposit for City Index
The overall minimum deposit on City Index is SG$150, this applies to deposits via bank transfers and e-wallet (PayNow). Deposits via cards require a minimum of SG$250.
City Index offers 2 main account types, Standard and MT4 account, and both have same minimum deposit of SG$150.
Accepted Deposit Methods on City Index Singapore
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 SG$250, the deposits are credited instantly and deposit fee of 2% are charged by the card processor.
You can also withdraw funds to your bank cards, the minimum amount allowed is also SG$150, it takes up to 10 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 SG$150, 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Funds can be withdrawn from your trading account to your local bank account as well, the minimum amount for withdrawal is SG$150, no fees are charged for withdrawal, and it usually take about 1-2 business days for you to receive the funds.
3) E-wallets (PayNow): City Index accepts deposit via PayNow, the minimum amount for deposits via PayNow on City Index is SG$150, such deposits are usually credited. No deposit fees for this method.
City Index does not allow withdrawal to e-wallet.
Note: CFD trading is risky
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 | SG$150 | Free | 1-2 business days |
| Cards | Yes | SG$250 | Free | Instant |
| E-wallet | Yes (PayNow) | SG$150 | Free | Instant |
City Index Deposit Rules
1. Deposit Fees: No deposit fees are charged on City Index when depositing funds through bank transfer and PayNow. Deposits via cards attract a fee of 2% per transaction, levied by card issuer/processor. Note that although City Index charges no fees for bank transfers and PayNow, your bank 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 (PayNow) are reflected instantly on your trading account as well. 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 | SG$150 |
| Plus500 | SG$200 |
| CMC Markets | SG$0 |
| OANDA | SG$0 |
| IG Markets | SG$450 |
| AvaTrade | SG$100 |
Note: CFD trading is risky
City Index Minimum Deposit FAQs
What is the minimum deposit required to open a City Index account?
SG$150 is the minimum amount required to activate a City Index account and start trading. This amount applies to deposit via bank transfers and PayNow. Card deposits require a minimum amount of SG$250.
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 using bank transfer or PayNow. Card processors levy a deposit fee of 2%. Note that your bank 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 (PayNow) are also instant, 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 24 months, that is, if you do not use your account to open a trade. The inactivity fee is SG$15 per month after the 24 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 (PayNow), cards (credit/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 PayNow and bank transfer require a minimum deposit of SG$150, you need a minimum of SG$250 to deposit on City Index using your card.
How long do withdrawals take on City Index?
3 business days is the typical time it takes for you to receive your money after requesting a withdrawal, this applies to bank transfer, cards can take up to 10 business days.
Note: Your capital is at risk