No commission + extended hours: City Index launches US share CFDs for Australians
“With global narratives making such an impact on companies and their share prices in the last two years, the US has proven to be an extremely important market for all traders.”
City Index has announced the launch of zero commission trading for US share CFDs in a move that helps bridge the gap for Australians wishing to trade US markets, according to the FX and CFD brokerage firm and subsidiary of StoneX Group.
Accessibility issues has often meant that international share exposure remained a limited part of Australian portfolios, but the addition of a US stock derivatives trading offering at zero commissions is likely to change.
Tom Brown, Head of Australia at City Index, commented: “Whether you’re trading pharmaceutical names, automakers, or tech stocks, the US is the only market in the world where you’ll find trillion-dollar companies moving at such a rate of change that their influence will have a ripple effect across all international markets. With global narratives making such an impact on companies and their share prices in the last two years, the US has proven to be an extremely important market for all traders.”
Trade US share CFDs beyond closing 4pm bell in New York
City Index has also offered its clients the opportunity to participate in extended hours trading, which will apply to the largest, most liquid share CFDs. Large caps including Amazon, Netflix and Microsoft will continue to trade beyond the closing 4pm bell in New York.
“The largest stockbrokers in Australia also carry with them the highest fees for trading international stocks, where traders have been deterred by c.A$30 minimum commissions. Among City Index clients, this was one of the three biggest barriers to entering the US market, alongside trading hours and education. To make this market more accessible, City Index has addressed all three”, Tom Brown added, as he pointed out that, as traders begin to explore new markets, City Index has a responsibility to provide education and analysis that will support their journey.
“City Index’s Trading Academy hosts 8 courses ranging from technical analysis to advanced trading strategies, containing some 60 individual lessons. With huge improvements this year in our performance analytics and our investment in behavioural science platform, PlayMaker, our clients are armed with more capabilities to succeed in these markets than ever before.”
City Index is headquartered in London and has offices in the United Kingdom, the US, Australia, Hong Kong, China, Singapore, Poland and Dubai. City Index currently offers a suite of trading platforms which include Advantage Web, AT Pro and MetaTrader 4.