Currency trading is one of the most widely traded markets in the world, and with City Index, you can take a position on over 40 major, minor and exotic currency pairs.
We offer tight spreads on currencies including sterling, US dollar, yen, euro, Swiss franc, Canadian and Australian dollars as well as a number of other currencies around the world.
We recently reduced our spreads on over 30 rolling currency pairs, and now offer some of the tightest spreads in the market. Our most popular markets are GBP/USD, EUR/USD and USD/JPY, with our daily rolling spreads for EUR/USD at just 1 point and GBP/USD at 2 points. See our full list of currency spread cuts.
See our forex trading webinar for information on how currency trading works.
Currencies CFD Trading Example
Let's say our current GBP/USD CFD price is 1.5020/1.5023 (sell price/buy price). Note GBP/USD CFD bet per is 0.0001.
Going Long
You expect sterling to strengthen (sterling appreciates) against the US dollar and decide to buy (go long) 2 CFDs 1.5023.
You were right: As you anticipated, sterling strengthens against the dollar, and when it reaches 1.5210 you decide to cash in your profits. Our new rolling bet spread is 1.5210/1.5213 and you sell 2 CFDs at 1.5210.
Result: You bought at 1.5023 and sold at 1.5210, a rise of 187 points (pips), which at 2 CFDs nets you a profit of $374 (1.5210 – 1.5023 x 2 CFDs).
Alternative scenario: If however, sterling had weakened (sterling depreciates) against the US dollar to 1.4836, you would net a $374 loss (1.5023 - 1.4836 x 2 CFDs).
Going Short
You expect sterling to weaken (sterling depreciates) against the US dollar and decide to sell (go short) 2 CFDs at 1.5020.
You were right: As you anticipated, sterling weakens against the dollar, and when it reaches 1.4860 you decide to cash in your profits. Our new rolling bet spread is 1.4857/1.4860 and you buy back 2 CFDs at 1.4860.
Result: You sold at 1.5020 and bought back at 1.4860, a fall of 160 points (pips), which at 2 CFDs nets you a profit of $320 (1.5020 – 1.4860 x 2 CFDs).
Alternative scenario: If however, sterling had strengthened (sterling appreciates) against the US dollar to 1.5180, you would net a $320 loss (1.5180 - 1.5020 x 2 CFDs).
For the purpose of simplicity, commission, financing charges and payments have been omitted from these illustrations. Find out more about our financing charges.
Education and Resources
Our superior trading platform is packed with resources to help you make better-informed CFD trading decisions. Our resources include live news feeds from Dow Jones Newswires and a charting package that is available free of cost to all City Index trading account holders.
Our specialised webinars, held by our team of trading experts, enable you to learn trading at your own pace and from your own computer, no matter where you are. Find out more about our webinars and seminars.
Multi-Platform Access
Our range of trading platforms enable you to trade securely and at any time of the day. Our secure and easy-to-use online trading platform makes it possible for you to spread bet and trade CFDs from the same platform while City Trading™ our cutting-edge iPhone™ Trading App enables you to trade from wherever you are and at any time of the day.
