Currency Trading
Currencies are one of the most widely traded markets in the world, and with City Index, you can take a position on over 50 currency pairs including major, minor and exotic 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.
We also offer Daily Options on a number of currency pairs, starting from just £1 per point on EUR/USD, GBP/USD and USD/JPY. Our expiry time for Daily Forex Options is 20:00 (London time). Find out more about Daily FX Options.
Currencies Rolling Bet Example
Let's say our current GBP/USD rolling bet spread is 15020/15023 (sell price/buy price).
Going Long on Currencies
You expect sterling to strengthen (sterling appreciates) against the US dollar and decide to buy (go long) £2 per point at 15023.
You were right: As you anticipated, sterling strengthens against the dollar, and when it reaches 15210 you decide to cash in your profits. Our new rolling bet spread is 15210/15213 and you sell £2 per point at 15210.
Result: You bought at 15023 and sold at 15210, a rise of 187 points (pips) which at £2 per point nets you a tax-free profit* of £374 (15210 – 15023 x £2).
Alternative scenario: If however, sterling had weakened (sterling depreciates) against the US dollar to 14836, you would net a £374 loss (15023 - 14836 x £2).
Going Short on Currencies
You expect sterling to weaken (sterling depreciates) against the US dollar and decide to sell (go short) £2 per point at 15020.
You were right: As you anticipated, sterling weakens against the dollar, and when it reaches 14860 you decide to cash in your profits. Our new rolling bet spread is 14857/14860 and you buy back £2 per point at 14860.
Result: You sold at 15020 and bought back at 14860, a fall of 160 points (pips), which at £2 per point nets you a tax-free profit of £320 (15020 – 14860 x £2).
Alternative scenario: If however, sterling had strengthened (sterling appreciates) against the US dollar to 15180, you would net a £320 loss (15180 - 15020 x £2).
Forex Education and Resources
Our superior trading platform is packed with resources to help you make better-informed spread betting 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 spread betting experts, enable you to learn spread betting at your own pace and from your own computer, no matter where you are. Find out more about our webinars and seminars.
Special Introductory Offer: Reduced Minimum Stake Sizes
New City Index clients are also entitled to special reduced minimum stake sizes starting from just 25 pence per point for a period of four weeks, so you can place your first spread bet with confidence. At the end of the four-week period, our normal minimum stake sizes will automatically be applied to your account. Find out more
Multi-Platform Trading 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.
*Unlike direct investment in the underlying assets, spread betting is exempt from both UK stamp duty and UK Capital Gains Tax. However, tax laws are subject to change and depend on individual circumstances.
