City Index Group
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| Private | |
| Industry | Financial Services |
| Founded | September 1983 |
| Headquarters | London, United Kingdom |
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Key people
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Mark Preston (Group Chief Executive) |
| Services | Financial Spread Betting (UK) and CFD Trading worldwide |
| Owner | Gain Capital |
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Number of employees
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Over 400 worldwide |
| Subsidiaries | City Index Limited, Finspreads, FX Solutions and IFX Markets |
| Website | www |
City Index Group is a broker providing online financial spread betting, FX, and CFD trading. It has been part of Gain Capital since October 2014. As well as Britain, it operates in Australia, China, Singapore, Hungary, Poland, Israel and Germany. The group operates the brands City Index Limited, Finspreads, FX Solutions and IFX Markets.
City Index was founded by Chris Hales and Jonathan Sparke in September 1983 and started trading in March 1984 offering spread betting. 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. This app was later also available on Blackberry and Android devices.
In Autumn 2012, City Index ran the Trading Academy - a six-week web series produced to demonstrate that with the right education, technical support, dedication and discipline, aspiring traders from a range of backgrounds and experience levels can be taught how to trade the financial markets.
In November 2014 the company was sold to US based rival Gain Capital for $118 million by Michael Spencer who had owned the company since it 1997 when he had purchased controlling interest from its original founders.
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.
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