City Index Has Moved To Daily Funded Trades

As trailed originally in my news item CityIndex Moving to Daily Funded Trades, I can now confirm that this has now happened, and I know for sure that it has by virtue of the following screenshot of a small account I hold with them. Notice that each open position is now labelled as a DFT (Daily Funded Trade).

Note that this was a small account that I opened with City Index originally so that I could review the CityIndex Android App and subsequently the CityIndex iPhone App. In the course of running the account, I managed to withdraw an amount equal to my original deposit so that the account is now funded solely by a small amount of other people’s money.

Whereas I previously shied away from City Index and its platform siblings partly because of the way that the profit-counter was reset on a daily basis, I’m much more inclined to trade with them now that each position shows my total accumulated profit since the position was opened. There’s a small fly in the ointment insofar as every position is showing (in my picture) as having been opened on 13/04/12, which was the last day of the old regime, rather than showing the real dates on which those positions were opened some weeks earlier. I’m confident, however, that any new positions will show the all-time profit or loss since the days they are opened.

Tony Loton is a private trader, and author of the book “Position Trading” (Second Edition) published by LOTONtech.