Trading Price & Charges

We are upfront about the costs of trading with us and our transparent pricing means you'll always know our charges.

View a full list of pricing and charges at City Index across all of the markets we offer.

  • We offer fixed and variable spreads
  • Our retail client margins start from 3.33%
  • Benchmark UK financing is SONIA +/-2.5%

Our Trading Charges

Spreads, commissions and margins

City Index is transparent and open about the details of all of our related trading costs so that you know exactly how much you pay when you trade with us.

Spreads (fixed and variable)

We offer both fixed and variable spreads depending on the market you wish to trade. For a list of the spreads available on our most popular markets, see the table above.

Fixed spreads don't change according to market conditions such as volatility or liquidity. Fixed spreads may either be offered for a defined period of the day, or throughout trading hours.

Variable spreads may fluctuate throughout the day according to different factors such as underlying liquidity or market volatility. With variable spreads, City Index will quote you the minimum spread it could be, plus an average spread for a defined historical period of time.

Visit our Help and Support section for more information.

Margin (Step margin)

Margin is the amount of money you need in order to open a position on a market with us. You can find out more about margin and leverage as well as the benefits of trading on margin in our Education section.

The larger the trade size, the higher the risk level associated with the trade. Therefore we may increase our margin requirements for larger size trades or any additional trades in that instrument. Below is an example of how this may work:

Spread Bet stake size CFD stake size Margin
£0-£10 0-1,000 5%
£10-£100 1,000-10,000 10%
£100-£500 10,000-50,000 15%
£500+ 50,000+ 20%

Order-aware margins (professional clients only)

Some markets on the Advantage Trader platform benefit from orders-aware margins, which means that placing a Stop Loss Order on an open position will reduce the margin required to maintain that position. Information on whether a market includes orders aware margins can be found within the market information sheet. This features is only available for clients who qualify as professional traders with City Index.


We charge zero commission when you Spread Bet at City Index. There is also no commission charged for CFD Trading, the only exception being Shares CFD Trading.

See the table below for details of the commission we charge on Shares CFD Trading.

Market name CFD Spread CFD Commission Minimum
UK shares Market 0.08% £10
European shares Market 0.08% €10
Australian shares Market 0.08% $5 AUD
Asian shares Market 0.08% $10 SGD
US shares Market 1.8CPS $10 USD

Financing charges

Financing is a fee that you pay in order to hold a position open overnight (excluding futures contracts). The daily financing fee will be applied to your account each day that you hold an open position (including weekend days). There is no financing charged on futures contracts. Our financing rates are set at benchmark regional interest rate of +/- 2.5%. The financing rates we charge by territory are:

Country Financing on long positions Financing on short positions
UK SONIA +2.5% SONIA -2.5%
US SOFR +2.5% SOFR -2.5%
EU €STR +2.5% €STR -2.5%
Australia Deposit +2.5% Deposit -2.5%
Other international Contact Client Management Contact Client Management

FX overnight financing

Should you hold a position overnight, there will be an overnight financing adjustment. We use swap points to calculate the daily overnight financing adjustment amount for FX pairs.

Please review the market information sheets in the Advantage Trader platforms for details on further financing charges on FX.

Funding and withdrawal costs

Transactions involving debit or credit card deposits and transfers do not incur any charges. We do not make charges to withdraw money to your credit, debit card or a bank transfer using BACS.

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Back to base currency conversion charge

CFDs and FX: We will apply commercially reasonable rates for Back to Base Currency Conversions (which may be up to and including +/- 0.5% away from our quoted prices or rates from time to time). Conversions and the rates applied will be disclosed on your contract notes and statements.

Spread betting accounts are not affected because all trades take place in one base currency, usually sterling.

Exchange data fees

We do not charge exchange data fees.

Guaranteed Stop Loss Orders

You can place a Guaranteed Stop Loss Order on thousands of global markets and pay no upfront charge. A premium will only be charged if your GSLO is triggered. Full information on charges and available markets can be found within the markets information sheets on your platform.

As a guide, charges for the following popular markets are currently:

  • UK 100 CFD: 3x quantity of CFDs charged in base currency
  • EUR/USD (per 0.0001) CFD: 4 x quantity of CFDs charged in base currency
  • Barclays share CFD = 0.25% of notional trade value
  • US Crude Oil CFD: 4 x quantity of CFDs charged in base currency

For an in-depth overview of our Guaranteed Stop loss Order offering, please visit our FAQ section.

Futures Rollover discount

Receive a 50% spread discount if you automatically roll a futures contract at expiry. When you Spread Bet this can be done automatically in platform. CFD requests are by telephone only. For more information on Futures Rollover discounts, visit our CFD Trading and Spread Betting costs page.

Dividend adjustments

CFDs and Spread Bets are subject to corporate actions including dividend adjustments. We may make dividend adjustments if a dividend is scheduled to be paid to the holders of the underlying instrument. These adjustments are normally made on the ex-dividend date. 

UK dividends are taxed at source so if you hold the stock you will only receive 90% of the gross. This is because there is a 10% tax applied to the source of the dividend. If you have borrowed the stock you must only pay that 90% as 10% tax has already been retained by the government.

In the US for example, tax laws are different and the tax is only deducted from the stock holder after the dividend has been paid.

So, if you have borrowed the stock you must pay the dividend, but you must pay 100% of the gross as no tax is applied to this.

If you only paid 85%, then the stockholder would only receive 85% and would subsequently be taxed a further 15% of this 85%; which would be incorrect.

The breakdown is as follows:


  • Pay/receive the net
  • Tax is 10%
  • Pay/receive 90% of the gross
  • Receive the net and pay the gross 
  • Tax is 15% 
  • Receive 85% and pay 100% of the gross

For more information on US withholding tax on US equity derivative markets, please visit our page on US code section 871(m).

Borrowing cost for shorting CFDs

Borrowing costs are incurred when you short a shares CFD position, and reflect a charge incurred in the underlying market when the underlying asset is borrowed in order to sell and return at a later date. Very few markets will incur a borrowing charge, and to determine whether the market you wish to trade has borrowing costs or not, please check the relevant market information sheet.

Inactivity fees

Where no activity has occurred on your account(s) for a period of 12 months or more, your account(s) will be deemed inactive. 'Activity' is defined as placing a trade and/or maintaining an open position during this period. Placing an order on an account without executing a trade will not qualify as ‘Activity’ for these purposes. A monthly inactivity fee of £12 in aggregate (or your cash balance if less than £12) will be applied for accounts that are inactive for 12 months or more.

Clients that hold non GBP accounts will be charged as follows:

Currency Inactivity Fee Amount
AUD 15
CAD 20
CHF 15
EUR 15
GBP 12
HKD 100
HUF 4500
JPY 1500
NZD 25
PLN 50
SGD 15
USD 15

If your account has been inactive for 3+ years (retail clients) or 1+ years (Professional clients) we'll need to reassess your trading experience and ensure that we have your up-to-date contact details. You will need to complete our account reactivation form and a member of our Account Management Team will be in touch to let you know if we need anything further from you or to let you know that your account(s) have been reactivated.

Italian Financial Transaction Tax

City Index complies with Italian law and we apply the Italian Financial Transaction Tax to all CFD trades on Italian Indices and Italian Equities where relevant. For more information on how this could affect your trading, please contact our Client Management Team.

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