City Index Review 2026
Full City Index review for New Zealand traders — regulation, spreads, fees and our honest verdict.
Regulation in New Zealand
| Regulator | ASIC ASIC — Australian Securities and Investments Commission (ASIC) |
| Licence Number | 345646 |
| Regulated Entity | GAIN Capital Australia Pty Ltd |
| Max Leverage (Forex) | 1:30 |
| Minimum Deposit | $0 |
| EUR/USD Spread | From 0.5 pips |
| Instruments | 13,500+ |
| Platforms | City Index Platform, MT4, TradingView |
| Copy Trading | ✗ |
| Real Stocks | ✗ |
| Inactivity fee | Inactivity fee: GBP12/month after 12 months |
Verdict
Regulated by ASIC (licence 345646). Minimum deposit $0. In New Zealand: maximum forex leverage 1:30.
About City Index
City Index was founded in 1983 and is headquartered in London, UK. The broker offers 13,500 tradeable instruments including forex pairs, CFDs on stocks, indices and commodities. It is regulated across multiple jurisdictions with a primary licence held by GAIN Capital Australia Pty Ltd under ASIC.
In New Zealand, City Index operates as GAIN Capital Australia Pty Ltd, authorised by ASIC under licence number 345646. New Zealand traders are subject to a maximum leverage of 1:30 on forex pairs under ASIC rules.
Trading Platforms
Pros
- ASIC regulated — licence 345646
- 13,500+ instruments to trade
- Negative balance protection in New Zealand
- Platforms: City Index Platform, MT4, TradingView
Cons
- Inactivity fee: GBP12/month after 12 months
- 76% of retail clients lose money
- CFD trading — you do not own the underlying asset
- No real stock ownership
Frequently Asked Questions
Is City Index regulated?
City Index holds ASIC licence 345646, issued to the regulated entity {entity}. This is a real, verifiable licence recorded in the official ASIC public register.
What is the minimum deposit for City Index in New Zealand?
The minimum deposit is $0. This is the amount required to open a live trading account for traders in New Zealand under ASIC regulation.
What leverage does City Index offer in New Zealand?
In New Zealand, City Index offers maximum forex leverage of 1:30 under ASIC rules. Higher leverage may be available through offshore-regulated entities.
Is City Index safe to trade with?
City Index is regulated by ASIC, which requires segregated client funds, negative balance protection and independent audits. Regulation does not eliminate trading risk, but it provides meaningful investor protection.
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