| Type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 1983 |
| Headquarters | London, United Kingdom |
| Services | Financial Spread Betting (UK) and CFD Trading worldwide |
| Owner(s) | Michael Spencer |
| Employees | Over 600 worldwide |
| Subsidiaries | City Index Limited, Finspreads, FX Solutions and IFX Markets |
| Website | www.cityindex.com |
City Index Group is a broker providing online financial spread betting, FX, and CFD trading.[1] As well as Britain, it operates in United States, Australia, China, Singapore, Poland and Germany. Today, the group consists of the City Index Limited, Finspreads, FX Solutions and IFX Markets brands.[2]
Contents |
City Index was established in 1983. In 2001, the company launched its CFD Trading function in the UK. During 2005, City Index Group acquired the IFX Group, in doing so procuring FX broker IFX Markets and spread betting provider Finspreads.com. The following year, the group opened offices in Sydney, Singapore and Shanghai to serve clients across the Asia Pacific region. In 2008, City Index Group purchased FX Solutions, a US market leader in retail and white label foreign exchange services. 2009 saw City Index launch City Trading, the first spread betting and CFD trading application for the iPhone. [3]
City Index Limited - Established in 1983 as one of Britain’s first spread betting providers, the company carried on growing - and in 2001 launched its Contract for difference (CFD) trading function in the UK.
Finspreads - Finspreads was a leader in interactive online spread betting starting in 1999 before it was acquired by the Group in 2005.[3]
FX Solutions - Foreign exchange broker FX Solutions was founded in 2001 with five employees and operates today with 70. In 2003 the company began live trading on its online trading system and in 2008 was acquired by the City Index Group. The company was recognised as one of America's fastest growing private companies by Inc. magazine in 2005, 2006 and 2007.[4]
IFX Markets - As a provider of margined Forex, their electronic trading platform provides real-time tradeable prices in 48 spot currency pairs, including gold & silver and 40 IMM and FINEX EFP contracts.[5]
In October 2009, City Index launched City Trading, a mobile spread betting application for the iPhone.[6] The innovation contributed to the company's entire mobile trading offering being named 'Best Mobile Trading Platform' at the MoneyAM Online Finance Awards 2010 and 2011.[7]
City Index has partnered with a number of financial institutions to provide their clients with Contract for difference and spread betting services under a fully branded White-label product solutions.