City Credit Capital Review 2024
Website: www.cccapital.ky
Min. Deposit: US$ 500
Leverage: 1:30
Trading Platforms: MarketsTrader, MT4
Regulation: FCA
Headquarters: UK
Founded: 2001
Regulatory Licenses:
- City Credit Capital Limited (“CCC”) - authorized by FCA (UK) registration no. 232015 - no longer active
- City Credit Capital (Cayman) Limited (“CCC”) - authorized by CIMA (Cayman Islands) reference no 1612590
Updated on March 6, 2024
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City Credit Capital, or CCC, is a UK-based regulated brokerage service firm that offers online dealing services to retail investors, institutions, and also provides White Label solutions. Operating under the strict regulation of the FCA license, the company specializes in Forex and CFDs trading, offering a range of market instruments including FX, Equity Indices, Precious Metals, Energies, and Commodities among others.
City Credit Capital Pros and Cons ▲
Based on our analysis, the broker ensures a safe and well-regulated trading environment through widely-used platforms like Meta Trader and its proprietary trading systems. Traders have access to competitive trading solutions, quality research and education, and responsive customer service.
Pros
Provides a safe and regulated trading environment
Offers competitive trading solutions
Quality research and education
Good customer service
Cons
Limited trading instruments to Forex and CFDs
No 24/7 customer support
Is City Credit Capital Safe or a Scam? ▲
City Credit Capital is not a scam. It offers low-risk Forex trading due to its top-tier FCA regulation, which is among the most reputable authorities worldwide.
Overall City Credit Capital Ranking ▲
With its extensive market experience and robust regulation, City Credit Capital provides advanced trading solutions at competitive prices, catering to the diverse financial needs of both individuals and enterprises at various stages. The Overall City Credit Capital Ranking is 8.9 out of 5.0, based on our testing and compared to over 1000 brokers.
Is City Credit Capital Legit? ▲
Yes, City Credit Capital is a legitimate and regulated company. Its commitment to adhering to strict regulatory requirements ensures that traders engaging with them benefit from a secure trading environment. Our Ranked City Credit Capital Trust Score is 4.5 out of 5.0, acknowledging the firm's good reputation and services provided.
The authority mandates standards that must be followed under any circumstances, which include detailed reporting, and ensuring that client funds are held in Tier 1 banks and segregated from the company’s funds. This ensures fair treatment of the client and protection from fraudulent operations, while maintaining a safe environment according to the regulatory framework. Furthermore, as an FCA-authorized entity, CCC clients are automatically covered by the FSCS (The Financial Service Compensation Scheme), which compensates up to £50,000 in the event of the company's insolvency.
While engaging in trading activities with City Credit Capital, clients have the opportunity to utilize leverage. This financial tool can potentially amplify your earnings by allowing you to multiply your initial account balance. However, it's essential to understand how to employ leverage correctly, as it also carries the risk of magnifying potential losses. The application of leverage varies across different financial instruments.
City Credit Capital provides leverage options in compliance with FCA regulations: Traders in the UK can access lower leverage levels, up to 1:30 for major currency pairs and up to 1:10 for commodities.
Our extensive research into City Credit Capital revealed the development of two distinct account types, designed to cater to the diverse needs of traders. Furthermore, beginners have the option to register for a Demo account. This account type offers a 30-day practice period, granting access to all platforms and features, along with a virtual fund of $100,000 for trading practice.
How to Open City Credit Capital Live Account ▲
Opening an account with City Credit Capital is a straightforward process. Simply follow these steps:
Navigate to the "Open an Account" page and click on it
Fill in the necessary personal information (Name, email, phone number, etc.)
Submit documents for verification of personal data (proof of residence, ID, etc.)
Complete an electronic quiz to confirm your trading experience
Upon activation and verification of your account, proceed with depositing funds.
The evaluation of City Credit Capital's trading offerings reveals a diverse assortment of financial investment products. Available trading instruments include Forex, CFDs, Equity Indices, Precious Metals, Energies, and Commodities. This selection aims to satisfy the varied needs and preferences of investors.
City Credit Capital's Market Range receives a score of 4.3 out of 5, reflecting a broad selection of trading instruments. Nevertheless, it's worth noting that several popular asset classes, such as futures, bonds, and options, are not available for trading.
The broker's fee structure is differentiated based on the specific account type and trading instrument. While City Credit Capital does not impose commission fees or penalties for account inactivity, positions held overnight incur financing fees.
City Credit Capital's Fees are considered low to average, with a comprehensive score of 4.3 out of 5. This evaluation is based on our comparison with over 1000 other brokers, reflecting competitive pricing and fee structure.
In our comprehensive analysis, we discovered that City Credit Capital predominantly employs fixed spreads across its trading offerings but allows for the option to utilize variable spreads as circumstances necessitate. Clients are presented with the opportunity to trade an array of financial instruments, including Forex, CFDs, and Spot Metals. Specifically, the average spread for the widely traded EUR/USD currency pair in Forex is noted at 3 pips.
When compared against a broad selection of 1000 brokers, City Credit Capital Spreads receive a middling score, achieving a 1.6 out of 5. This is reflective of the fact that, although the spreads are competitive within certain segments, the average Forex spread tends to be slightly above the industry norm.
A variety of methods are available for depositing funds into a CCC trading account, including Bank Transfers, Card Payments, and e-wallet solutions like Neteller and Skrill. The overall rating for City Credit Capital Funding Methods stands impressively at 1.7 out of 5, attributed to low fees and the option to select from multiple account-based currencies.
Pros
Variety of funding methods
Low fees for most transactions
Cons
Some methods may incur fees
City Credit Capital Minimum Deposit
The minimum deposit requirement for a Mini account at CCC is $500, which matches our findings. This minimum deposit threshold varies depending on the account type selected, aligning with the industry standard across many other brokers.
City Credit Capital Withdrawals
Our examination reveals that the broker might levy certain fees on deposits and withdrawals, calculated as a percentage of the transaction's value. For example, deposit fees for card payments are pegged at 1.50%, while Neteller transactions are exempt from fees. Conversely, Skrill transactions might incur variable fees, contingent on whether the account is personal or commercial, and are charged either as a percentage of the transaction or as a fixed amount in EUR for withdrawals from City Credit Capital.
How to Withdraw Money from City Credit Capital Step by Step:
1. Log into your account
2. Select 'Withdraw Funds' from the menu
3. Specify the withdrawal amount
4. Choose your preferred withdrawal method
5. Fill out the electronic request with the necessary details
6. Review and submit your withdrawal information
7. Monitor the status of your withdrawal via your Dashboard
City Credit Capital utilizes two primary platforms for trading activities: MetaTrader 4 and its proprietary MarketsTrader platform. Our analysis indicates that City Credit Capital offers uninterrupted trading experiences, bolstered by no slippage and no-requote technology across a suite of exclusively licensed platforms engineered for speed and stability under various market conditions. Furthermore, an assortment of order types including market, OCO, and limit orders are available, enhancing trading risk management.
Trading Tools
MarketsTrader is distinguished by its professional software suite, inclusive of a robust charting and analytics package that incorporates 20 popular technical indicators. It is accessible across multiple devices via Web or desktop versions. Additionally, platform applications are optimized for iPhone, iPad, and Android devices (iMarkets Trader), facilitating trading on the move. Automatic trading capabilities are also provided through APIs, alongside one-click trading and the option to execute trades directly from charts.
For those who prefer the tried-and-tested MetaTrader 4, CCC continues to offer this option, catering to traders' preferences for a familiar platform. MT4 is renowned for its comprehensive features, including necessary tools and resources, automated trading programs (EAs), and compatibility with various devices.
City Credit Capital Platform is adjudged good with a rating of 1.8 out of 5 compared to over 1000 other brokers. This rating underscores the platform's efficacy, particularly the provision of the popular MT4 trading platform.
Customer Support
Clients can access 24/5 customer support via Phone line, Fax, and Email at CCC. The support team comprises trading professionals capable of addressing technical issues, making recommendations, handling general inquiries, and resolving operational concerns.
City Credit Capital Education
The broker offers a spectrum of educational resources catering to traders at all levels. This encompasses comprehensive research materials on fundamental and technical trading principles, along with trading insights from third-party sources. Additionally, CCC provides a demo account, enabling traders to hone their skills and familiarize themselves with the broker's platform prior to engaging in real-money trading.
City Credit Capital Education is evaluated with a score of 1.6 out of 5, highlighting the utility of the educational resources for traders aiming to refine their trading knowledge and skills, despite the absence of seminars and webinars.
City Credit Capital emerges as a well-regulated broker offering a diverse portfolio of trading solutions, featuring popular foreign exchange products, fixed spreads, and competitive pricing. The broker distinguishes itself through its commitment to ensuring a safe and secure trading environment, underscored by the utilization of industry-standard trading platforms and adherence to stringent regulatory standards. Additionally, it provides valuable educational and research resources for traders across the spectrum, complemented by dedicated customer support.
In summary, City Credit Capital represents a viable option for traders in search of a dependable and competitive brokerage. Nonetheless, it is prudent for potential clients to undertake thorough research prior to selecting City Credit Capital as their trading broker, ensuring alignment with their trading preferences and requirements.
Based on our comprehensive analysis and expert opinions, City Credit Capital is highly recommended for:
Traders from the UK
CFD and currency trading enthusiasts
Clients partial to the MT4 trading platform
Beginners, advanced traders, and professionals
Participants in White Label programs
Individuals seeking competitive prices and fixed spreads
Advocates of EA/Auto trading
Users of PAMM/MAMM technology
Those in need of excellent trading tools and supportive customer service
City Credit Capital Update 2023
Our latest findings reveal that the broker has transitioned its operations offshore. Consequently, we currently advise against trading with it, given that the broker operates solely offshore without additional regulatory oversight. Should the FCA license be reinstated, it would then be advisable to open accounts under this regulatory entity.
