City Index versus IG Index: Which is the Best Spread Betting Provider?

By karlvcohen on January 21, 2011 In Currency Trading

As in the market there are more than 15 different providers investors should be able to compare spread betting brokers in the financial trading world.CityIndex is one of them.Being in the market for about 25 years,CityIndex offers offers a good range of markets across a wide number of asset classes.A private holding company IPGL is the parent company of CityIndex.

As a part of its history.IFX Group is taken over by CityIndex in 2006. A range of new and innovative leveraged products, mainly foreign exchange and the global equity markets were provided to institutional and retail customers by IFX which was a London based business.During this time span CityIndex platform has raised to a different level.Being omnipresent in the market the IG Index seems to remain the market leader. It was founded 10 years earlier than CityIndex and there are some different features provided by IG Index.

Plus account and the Limited risk account are the two types of trading account offered by IG. Together with full PureDeal functionality, including the DealThru Charts, the one-click dealing for a faster execution and competitive margins, comes the Plus account with dealing spreads which are tight.

On the other hand, the Limited Risk Account would come with the guaranteed stops on all kind of trades.The amount originally invested in this way, is the maximum amount that traders and investors would potentially lose.By paying some more spread on each of the trades,spread traders can enjoy this kind of privilege

Depending on whether you are a beginner or day trader in the spread betting world, you may find that the best spread betting provider depends on your trading style,comparing the two providers side by side. What makes CityIndex great for starters is that it offers a demo simulator account which IG Index doesn’t.However, if you are in for the sheer range of markets, then IG Index is likely to win hands down. Although here it is worth noting that City Index offers particularly competitive margins on a number of major markets though which are even better than IG but then just because a provider offers you greater leverage doesn’t mean that he’s offering you a better deal.

City Index offers CFD trading and spread betting on a single platform so you are able to switch from one to the other with ease. IG Index’s flagship web platform PureDeal also offers CFD trading but IG in addition also offers dma dealing through its PureDMA dealing interface dubbed as IG Markets. iPhone and mobile spread betting is what both platforms offer although City Index managed to penetrate the market earlier here & so has taken the lead. What promises well is an iPhone spread betting application launched by IG in August 2010.

USing one provider doesn’t mean that you necessarily need to open just one account & it is perfectly feasible to open an account with both IG Index and City Index. Conclusion that many spread betters tend to have multiple accounts, is what past research from research company Investment Trends has shown.

Also gather more details on IG Index Review and CityIndex.