CIX Markets Review and Tutorial 2021
United States not accepted.
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|CIX Markets Facts & Figures|
CIX Markets is an FCA-regulated online trading broker offering powerful tools.
|Instruments||Forex, CFDs, indices, commodities, interest rates, bonds|
|Pay Methods||Neteller, Skrill, Visa, Wire Transfer|
|Min. Trade||0.1 lots|
|Auto Trading||Yes (EAs)|
|Buy and sell on a breadth of financial markets with leveraged CFDs.|
Trade on a range of major, minor and emerging forex pairs.
CIX Markets is an emerging forex broker offering two platforms as well as additional tools, such as Trading Central. If you’re wondering whether it’s safe to trade at CIX Markets, this website review dives into the company’s history, regulation, spreads and payment times, to help you make a decision.
CIX Markets Headlines
CIX Markets is owned by City Credit Capital (UK) Ltd, an established and award-winning online brokerage. Launched in 2015, CIX Markets is the company’s newest venture, providing FX and CFD trading to retail and institutional clients. The broker is regulated by the Financial Conduct Authority (FCA) in the United Kingdom and is headquartered in London.
CIX Markets aims to provide the same level of superior and professional service as City Credit Capital with the addition of an enhanced platform and a wider range of tradable assets.
The broker’s trading platform is a fast and sophisticated software offering 24/5 access to currencies, indices, commodities and more.
The platform comes with an analysis and charting package, which includes drawing tools, 20 types of indicators and access to Trading Central research. Users can also access live quotes and a real-time news feed by Dow Jones. In addition, there is a variety of order types, including Limit Settle, OCO, and If-Done.
Alternatively, traders can opt for the popular MT4 platform, which includes a broader range of technical indicators and orders. Each instrument can be analysed in detail using multiple time intervals and charting types. There’s also automatic updates in the news feed as well as rich trading history. MT4 also supports the use of trading robots (Expert Advisors) which can be programmed and customised to suit any strategy.
CIX Markets offers 58 major, minor and emerging currency pairs, 20 spot and CFD indices, including the DAX 30 and FTSE 100, 9 commodities including metals, energies, and soft commodities, plus a few interest rates and bonds. Unfortunately trading on stocks and cryptocurrencies is not available.
CIX Markets offers fixed and variable spreads starting from 1 pip for major currency pairs such as EUR/USD. Index CFDs are around 3 points for the FTSE 100 and for crude oil, target spreads are $0.04. The broker does not charge trading commissions but swap fees may apply to overnight positions.
Overall, this means CIX Markets is middle of the road when it comes to trading fees.
As per FCA restrictions, the maximum retail leverage available is 1:30 on FX majors. The broker provides a breakdown of the margin requirements in the Markets Information Sheet. For higher leverage rates, clients may need to turn to offshore providers but that can mean less regulatory scrutiny and limited trader protection.
The CIX Trader mobile app delivers all the same features as the PC version, including full account management, live pricing, market news and a professional charting package with advanced technical indicators.
Alternatively, clients can opt for the MetaTrader 4 mobile app which is also fully-featured and comes with all the tools for advanced trading on-the-go. The app allows you to set notifications and alerts, so you can keep on top of new trading opportunities.
Both apps are compatible with iOS and Android smart devices.
CIX Markets accepts funding via bank wire, credit/debit cards including Visa, MasterCard and Maestro, as well as Skrill and Neteller. Deposits are available in GBP, EUR or USD. The minimum initial deposit is $500. Funds generally take 24 hours to clear.
This review was disappointed to see the broker isn’t transparent with payment times and funding fees, so it’s worth checking with customer support for details if you’re thinking about opening an account.
New and experienced traders can test their skills in the broker’s trial account free of charge, with $50,000 in demo funds. CIX Markets offers full access to the trading platforms with real-time conditions for 4 weeks. After the month trial period, clients have the option to register for a real-money account.
CIX Markets Bonuses
Due to an FCA ban on trading bonuses, there are no promo deals offered by CIX Markets at present. See the broker’s website in case this changes.
City Credit Capital (UK) Ltd (CIX Markets) is authorised by the Financial Conduct Authority (FCA) in the United Kingdom, under license number 232015. The FCA places strong regulatory oversight on brokerage firms and imposes strict standards such as annual audits and financial reports.
CIX Markets holds client money in segregated Tier 1 bank accounts. Under the Financial Services Compensation Scheme (FSCS), client capital is also insured up to £85,000 in the event of insolvency.
CIX Markets offers daily market commentary and analysis from Trading Central. Trading Central is a research platform add-on that provides regular updates, signals, targets, and timeframes. There’s also an education section with beginners’ guides and trading platform instructions, as well as an economic calendar.
CIX Markets Account
CIX Markets offers a single live account which can be opened in a few steps. Traders will need to submit their identity documents and proof of address. There’s no strict minimum deposit requirement, but the broker recommends at least $500 initially. The minimum trade size is 0.1 lots.
CIX Markets offers several attractive features, including:
- FCA regulation
- Trading Central
- No commissions
- Good range of assets
- MT4 and CIX Trader platforms
We did identify some disadvantages, including:
- Limited additional resources and tools
- Shares and cryptos not offered
Dealing hours for FX and some commodities are 24 hours, from Sunday at 22:30 (UK time) to Friday at 16:45 (NY time) with a daily trading break between 17:00 and 17:02 (NY time). All other times can be found in the trading platforms or in the broker’s Markets Information Sheet.
You can get in touch with CIX Markets 24/5 via email, telephone or live chat, though we were unable to connect with the live chat service at the time of writing. This is a concern as lots of providers offer reliable customer support.
- Telephone – +44 (0) 20 7614 4688
- Email – email@example.com
- Office – 12th Floor, 110 Bishopsgate, London, EC2N 4AY
MT4 is a safe and secure platform, with encryption protocols in place which safeguard data exchange between the trader’s platform and the broker’s servers. It’s unclear whether the CIX Trader platform provides the same level of security.
CIX Markets Verdict
Traders can access a range of financial assets at CIX Markets, as well as decent trading conditions and a good selection of payment methods. The broker is also trustworthy and regulated by the FCA, so traders can feel safe when investing their money.
CIX Markets accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use CIX Markets from United States.
Alternatives to CIX Markets
If you are looking for alternatives to CIX Markets we have compiled a list of the top 5 brokers that are similar to CIX Markets below. This list of brokers like CIX Markets is in order of similarity and only includes companies that accept traders from your location.
- LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
- EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
- Just2Trade – Just2Trade offer hitech trading on stocks and options with some of the lowest prices in the industry
- Binance – Binance is one of the leading online crypto exchanges offering Bitcoin.
- Forex.com – Forex.com boast a global reputation. Regulated in the UK, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
What can I trade at CIX Markets?
CIX Markets offers trading in major and minor FX pairs, commodities, indices and precious metals.
How can I make a deposit at CIX Markets?
You can deposit funds via bank transfer, bank cards including Visa, MasterCard and Maestro, as well as Skrill and Neteller.
What accounts does CIX Markets offer?
CIX Markets offers a single live account, a demo account or a corporate account. The minimum recommended deposit for a live account is $500.
What leverage is available at CIX Markets?
The maximum retail leverage available at CIX Markets is 1:30 on major forex pairs, in line with most FCA-regulated providers.
Is CIX Markets a scam?
CIX Markets is run by City Credit Capital (UK) Ltd, a reputable and legitimate company registered in the UK. The broker is also regulated by the Financial Conduct Authority (FCA).
|CIX Markets is an FCA-regulated online trading broker offering powerful tools.|
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