StoneX Trading Review

StoneX Trading is the new name for the former City Index UK retail business, following the rebrand in September 2026. The broker is operated by StoneX Financial Ltd, an FCA-authorised company under reference number 446717.

Is StoneX Trading regulated for South African traders?

StoneX Trading's UK retail business is operated by StoneX Financial Ltd, registered in England and Wales under company number 05616586. The company is authorised and regulated by the Financial Conduct Authority under FRN 446717.

That FCA licence is relevant, but it needs to be understood correctly. It applies to the UK legal entity. It should not be interpreted as FSCA authorisation in South Africa.

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Can South African traders open an account with StoneX Trading?

This is one area where I would not make assumptions. StoneX Trading's UK retail pages do not currently state clearly that South African residents are accepted for new retail accounts.

The website also notes that its information is not intended for use in jurisdictions where offering the service would conflict with local law or regulation. In practical terms, that means South African eligibility needs to be checked during the application process or directly with StoneX.

StoneX Trading Trust Score

Pros and Cons

Overview

• StoneX Trading replaced the City Index UK retail brand in September 2026.
• The trading name sits under StoneX Financial Ltd.
• StoneX Financial Ltd is regulated by the FCA under FRN 446717.
• The retail service is primarily aimed at the UK market.
• StoneX Group has been operating in financial markets for more than 100 years.
• StoneX Group is listed on Nasdaq under ticker SNEX.
• Standard and MT4 retail accounts are available.
• Corporate and Professional arrangements are available to qualifying clients.
• A free Demo Account is available.
• The Standard Account uses StoneX's proprietary platform ecosystem.

Is StoneX Trading a good broker for South African traders?

For a South African trader who is actually eligible for the account, there is a lot here that makes sense: FCA regulation through the UK entity, direct TradingView connectivity, MT4 support, and a proprietary platform covering far more markets than MT4 alone.

The issue I would resolve first is jurisdiction. StoneX's public UK material does not clearly confirm South African retail onboarding or an FSCA-regulated StoneX Trading entity.

Is StoneX Trading regulated in South Africa?

StoneX Trading is not currently confirmed as an FSCA-regulated South African retail broker. The retail service covered in this review operates through StoneX Financial Ltd under UK FCA regulation.

StoneX Group's Cape Town office does not change that on its own. A local group office and a local retail CFD licence are two different things.

★ ★ ★ ★ ★

💰 Min Deposit: $0

📈 Leverage: Up to 1:400

🏦 Regulators: FCA

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Features Offered

• Forex CFDs.
• Index CFDs.
• Share CFDs.
• Commodity CFDs.
• Precious metals.
• Futures-based markets.
• Options CFDs.
• Bonds.
• StoneX Web Trader.
• StoneX mobile trading app.
• TradingView.
• MetaTrader 4.
• Expert Advisors through MT4.
• Automated MT4 strategies.

StoneX Trading Customer Reviews

StoneX Trading has only just replaced the City Index UK brand, so customer reviews are going to be messy for a while. Some current experiences will appear under StoneX Trading, while older comments about essentially the same UK retail operation will still sit under City Index.

I would not put much weight on a single star rating here. It is more useful to read recent reviews and look for repeated issues around execution, withdrawals, platform stability and support.

• Start with recent reviews that clearly refer to StoneX Trading or the former City Index UK service.
• Separate somebody losing money on a trade from a genuine complaint about execution, withdrawals, or account administration.
• Check whether the reviewer used the same legal entity and product type you are considering.
• Remember that one customer's experience is useful context, not proof that every trader will get the same result.

StoneX says its wider retail trading businesses have served more than one million live and demo account holders globally over the last two years. That gives some idea of the group's scale, but it should not be read as the number of active StoneX Trading clients today.

StoneX Trading Safety and Security

• Under the FCA framework, StoneX Trading states that qualifying client money is held separately from the company's own operating funds.
• That matters if the firm itself runs into financial trouble, but segregation should not be confused with protection against trading losses. A leveraged position can still lose money quickly if the market moves against you.
• Eligible investment claims may also qualify for FSCS protection of up to £85,000 per person, per firm. Again, that is not insurance against a bad trade. South African residents should also confirm whether the protection would apply to their specific account and legal entity.

How does StoneX Trading protect client funds?

Qualifying client money is kept in segregated accounts under FCA client-money rules. In simple terms, client funds are meant to be kept separate from money StoneX uses to run the business.

What this does not do is remove normal market risk. You are still trading leveraged forex and CFDs, and those positions can move against you quickly.

Does StoneX Trading offer negative balance protection?

StoneX states that eligible Standard retail accounts are structured so clients cannot lose more than the funds available in the account.

This protection is tied to retail-client rules. Do not assume the same terms apply if you move to Professional status or use a different account classification.

StoneX Trading at a Glance

StoneX Trading Accounts

• For ordinary UK retail traders, StoneX Trading really comes down to two main account choices: the Standard Account and the MetaTrader 4 Account.
• The Standard Account connects you to Web Trader, the mobile app and TradingView. MT4 runs through a separate account because the platform, instruments, and trading setup are different.

Standard Account

The Standard Account is the main StoneX retail setup. This is the account I would look at first if you want the widest range of markets or plan to trade through TradingView.

• Thousands of global markets.
• StoneX Web Trader.
• Mobile trading app.
• Direct TradingView integration.
• Variable spreads from around 0.8 points on selected markets.
• No commission on most non-share CFD markets.
• Performance Analytics.
• Built-in research and market news.
• Retail negative balance protection where applicable.
• 24/5 support.

MetaTrader 4 Account

The MT4 Account makes more sense for traders who already work inside MetaTrader, particularly if you use Expert Advisors or custom indicators.

• MT4 desktop.
• MT4 web access.
• MT4 mobile.
• Variable spreads from around 0.5 points on selected markets.
• Expert Advisors.
• Custom indicators.
• FX Blue tools.
• Live market news.
• Forex, commodities, and indices.
• Separate from the StoneX proprietary account.

The trade-off is market range. MT4 is useful for FX and automation, but it does not give you the same breadth as the proprietary StoneX platform.

Corporate Account

StoneX also offers a Corporate Account for qualifying UK companies that want to trade using company funds.

• The account is opened in the company's name.
• Multiple authorised users can be added.
• Funding can come from a corporate bank account or card.
• Thousands of markets are available.
• The currently published corporate minimum deposit is £50,000.
• Additional company and shareholder documents are required.

With a £50,000 published funding requirement, this is clearly a different proposition from the normal retail account.

Professional Account Status

Experienced traders who meet the requirements can apply for Professional classification.

This can change leverage, pricing, and rebate arrangements, but there is a catch: moving out of ordinary retail classification can mean giving up some regulatory protections. I would compare the protections you lose with the trading conditions you gain before making that switch.

• Only available to eligible traders.
• You need an existing StoneX Trading account.
• The application is completed through MyAccount.
• Supporting documents may be required.
• MT4 remains available.
• The MT4 account remains separate from StoneX proprietary accounts.

Demo Account

The Demo Account gives you a useful way to get familiar with StoneX before putting real money behind a position.

• £10,000 in virtual funds.
• Web-platform access.
• Mobile trading.
• MT4 demo available.
• Live-price and chart simulation.
• MT4 demo leverage defaults to 1:30.
• No real capital at risk.

A demo is good for checking the platform and testing order entry. It is much less useful as proof that a strategy will perform the same way live. Real execution, slippage, and the psychological effect of risking actual money change the experience.

What types of accounts does StoneX Trading offer?

Most retail traders will be choosing between the Standard Account and MT4 Account. There is also a Demo Account, while Corporate and Professional arrangements are available to clients who meet the relevant requirements.

What is the StoneX Trading minimum deposit?

There is no general minimum deposit simply to open a StoneX Trading account. The payment method matters, though. StoneX currently lists a minimum card transaction of 100 units of the supported base currency, while bank-wire funding has no stated minimum.

That does not mean trading with 100 units is necessarily practical. Your balance still needs to cover the margin on the position and leave enough room for normal price movement.

★ ★ ★ ★ ★

💰 Min Deposit: $0

📈 Leverage: Up to 1:400

🏦 Regulators: FCA

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How to Open a StoneX Trading Account

The StoneX Trading application is completed online. Like most FCA-regulated CFD brokers, it includes identity verification and questions about your finances, trading experience, and understanding of leveraged products.

The broker uses this information to assess whether CFDs and other leveraged products are appropriate for you under the applicable regulatory rules.

Step 1 – Check Your Eligibility

• Go to the official StoneX Trading website.
• Check whether applications are accepted from your country.
• If you live in South Africa, confirm residency eligibility before going too far into the application.
• Check which legal entity and regulatory terms will apply to the account.

Step 2 – Complete the Online Application

• Enter your full legal name.
• Add your contact details.
• Provide your residential address.
• Select the account and products you want to trade.
• Choose between the available CFD or other eligible products where applicable.

Step 3 – Complete the Appropriateness Assessment

• Provide information about your financial position.
• Answer questions about your previous trading experience.
• Confirm your understanding of leveraged products.
• Answer accurately. This is part of the regulatory process, not a box-ticking exercise.
• StoneX can decline an application if the products are not considered appropriate.

Step 4 – Complete Identity Verification

• StoneX will normally try to verify your identity electronically.
• Documents are not always required.
• If electronic verification fails, you may be asked for identification.
• Proof of address or additional compliance information can also be requested.

Step 5 – Choose Your Account

• Choose Standard if you want Web Trader, mobile and TradingView.
• Choose MT4 if your trading depends on Expert Advisors or custom MetaTrader indicators.
• Eligible traders can apply for Professional classification later.
• Companies need to use the Corporate Account process.

Step 6 – Fund the Account

• Log into MyAccount.
• Fund with an accepted Visa or Mastercard.
• Alternatively, use a bank transfer.
• The minimum card funding transaction is 100 units of the selected base currency.
• Bank transfers currently have no stated minimum.
• Third-party payments are not accepted.

Step 7 – Access Your Trading Platform

• Open Web Trader or the StoneX Trading mobile app.
• Connect TradingView if you have a Standard Account and want to trade from TradingView.
• Download MT4 if you opened a MetaTrader account.
• Check the live spread, margin requirement, and financing cost before entering the trade.
• Size the position according to the amount of capital you are prepared to risk.

★ ★ ★ ★ ★

💰 Min Deposit: $0

📈 Leverage: Up to 1:400

🏦 Regulators: FCA

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StoneX Trading Fees, Spreads, and Commissions

• Do not judge the cost of this account from the minimum spread alone. Your actual trading cost can include the spread, share-CFD commission, overnight financing, currency conversion and an inactivity fee.
• Forex, indices and commodity CFDs are generally priced through the spread. Share CFDs use commission-based pricing.

The figures above are starting rates. They are not the spread you are guaranteed to see every time you trade. Pricing can widen when liquidity drops or volatility jumps, and your final cost will depend on the market, position size, account type and how long you keep the trade open.

Does StoneX Trading charge an inactivity fee?

Yes. StoneX Trading's UK pricing guidance currently lists an inactivity charge of £12 per month after 12 months without qualifying trading activity while funds remain in the account.

One detail worth knowing: logging in, depositing money, withdrawing money or placing an order that never executes does not reset the inactivity period. A trade or an open position is what counts as trading activity under the published rule.

Does StoneX Trading charge currency-conversion fees?

If your profit, loss or trading charge is in a different currency from your account base currency, StoneX can automatically convert it.

The broker states that the conversion rate may be up to approximately 0.5% away from its quoted price or rate. This is particularly relevant to a South African trader funding in rand but operating an account in GBP, EUR or USD.

★ ★ ★ ★ ★

💰 Min Deposit: $0

📈 Leverage: Up to 1:400

🏦 Regulators: FCA

Start Trading Read Review

StoneX Trading Trading Platforms

StoneX gives you three fairly different ways to trade: its own Web Trader and mobile ecosystem, a direct TradingView connection and a separate MT4 account.

Which one makes sense depends more on how you trade than on which platform has the longest feature list.

StoneX Web Trader

Web Trader is the main StoneX platform and gives you the broadest access to the broker's market range. If you want to trade across FX, shares, indices and commodities from one place, this is the platform I would start with.

• Runs in the browser.
• No installation required.
• More than 13,500 markets on supported accounts.
• Advanced charting.
• Performance Analytics.
• Market news and research.
• Forex, indices, shares and commodities.
• Customisable workspaces.
• Order and position-management tools.

StoneX Trading Mobile App

The StoneX Trading app is available on iOS and Android and carries over much of the web-platform experience. You can manage positions, set price alerts, and work with TradingView-powered charts without being tied to a desktop.

• iOS.
• Android.
• TradingView-powered charts.
• 60+ technical indicators.
• Price alerts.
• Performance Analytics.
• Quick-trading tools.
• Account management away from your desktop.
• Biometric security where supported.

TradingView

If TradingView is already where you do your chart work, StoneX's direct integration is one of the more useful parts of the Standard Account. You can connect the broker and place trades from TradingView rather than constantly switching between a charting package and a separate execution platform.

• Browser access.
• Desktop access.
• Mobile access.
• Trade directly from TradingView charts.
• Integrated screeners.
• Technical indicators.
• Community scripts and ideas.
• Synced layouts and watchlists.
• Live market news.

MetaTrader 4

MT4 remains available through a separate StoneX account. It is the obvious option if you already have EAs, indicators or trading tools built around the MetaTrader 4 environment.

• Desktop MT4.
• Web MT4.
• Mobile MT4.
• Expert Advisors.
• Custom indicators.
• FX Blue tools.
• Integrated news.
• Advanced charting.
• Forex, commodities and indices.
• Demo Account available.

The main compromise is that MT4 does not give you the same market range as StoneX Web Trader.

Which trading platforms does StoneX Trading offer?

StoneX Trading currently offers Web Trader, its own mobile app, direct TradingView integration and MetaTrader 4.

Does StoneX Trading offer MetaTrader 5?

No. The current StoneX Trading retail platform range lists MetaTrader 4, not MetaTrader 5.

★ ★ ★ ★ ★

💰 Min Deposit: $0

📈 Leverage: Up to 1:400

🏦 Regulators: FCA

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StoneX Trading Deposit and Withdrawal

• UK retail accounts can be funded with major debit cards, credit cards or bank transfer. StoneX does not accept cash or third-party payments.
• Withdrawals are generally sent back to verified funding sources, which is standard practice for fraud prevention and anti-money-laundering controls.

Can South African traders deposit in ZAR?

A ZAR base account is not clearly listed in StoneX Trading's current UK funding information.

That matters because StoneX states that deposits need to match the account base currency. If your account is in GBP, EUR or USD and your money starts in rand, somebody has to convert it. That may be your bank, StoneX or another payment provider, and the conversion can add another cost.

Confirm the available account currencies before depositing.

Does StoneX Trading charge deposit or withdrawal fees?

StoneX currently states that it does not generally charge for standard card or bank-transfer deposits and that normal withdrawals are also free on its side.

That does not mean every transfer will be free. Your bank, card issuer or FX provider can still charge its own fee.

Card withdrawals can take around 3–5 business days. Domestic bank transfers are often faster.

★ ★ ★ ★ ★

💰 Min Deposit: $0

📈 Leverage: Up to 1:400

🏦 Regulators: FCA

Start Trading Read Review

StoneX Trading Leverage

StoneX Trading's UK retail leverage follows FCA limits. Major forex pairs can be traded at up to 1:30, which works out to a margin requirement of roughly 3.33%.

The exact margin requirement can vary from one market to another. Professional clients may have different conditions, although moving to Professional status can also mean losing some retail protections.

If you are used to offshore brokers advertising leverage of 1:500 or even higher, 1:30 can look restrictive. There is a reason for the difference. StoneX's UK retail limits come from the FCA framework and limit how much exposure you can build from the same account balance.

That lowers the maximum gearing available to you. It does not make CFD trading safe.

StoneX Trading Instruments

The product range is one of StoneX Trading's stronger practical points. Across the UK retail offering, you can trade forex, shares, indices, commodities, metals, bonds, options and futures-based CFDs.

The proprietary platform range is advertised at more than 13,500 markets, including 85 forex pairs, more than 40 indices and thousands of global shares.

StoneX Trading vs eToro vs IC Markets – A Comparison

• StoneX Trading, eToro and IC Markets are quite different once you get past the fact that all three give clients access to online markets.
• StoneX Trading is built around its proprietary Web Trader, TradingView and MT4, with a large CFD range. eToro revolves around its own platform and social/copy-investing model. IC Markets is more closely associated with active forex and CFD trading through MetaTrader, cTrader and TradingView.
• For a South African trader, I would compare the actual account entity and funding setup before comparing platform features. A broker can have the platform you want and still be the wrong account if the legal entity, currency setup, or residency rules do not work for you.

StoneX Trading Research and Education

StoneX has more research built into the trading environment than many execution-only brokers. The current setup includes an economic calendar, Reuters news on eligible platforms, TradingView charting, Performance Analytics, and StoneX's own market intelligence.

• Economic calendar.
• Reuters newsfeed on eligible platforms.
• StoneX Market Intelligence.
• StoneX TV.
• Technical analysis.
• Fundamental market analysis.
• Trading Academy.
• Performance Analytics.
• Trading psychology material.
• Forex education.
• CFD education.
• Options education.
• Margin and leverage guides.
• Market commentary.
• Daily market analysis.

For an experienced trader, the useful part is having news, analysis and performance data close to the execution platform. For somebody still learning, the Trading Academy and Demo Account provide a way to understand the mechanics before risking capital.

Does StoneX Trading provide an economic calendar?

Yes. StoneX Trading provides an economic calendar and includes market news and analysis across several of its platforms.

Does StoneX Trading offer education for beginners?

Yes. The Trading Academy covers forex, CFDs, leverage, technical analysis, and general market concepts. New traders can also use the Demo Account before moving to live trading.

StoneX Trading Customer Support

• Support is available 24/5.
• Telephone support is available.
• Email support is available.
• Live chat is available.
• New-account support is handled separately.
• Standard 24/7 weekend support is not advertised.

StoneX provides support throughout the normal trading week by phone, email and live chat. That is enough for most forex and CFD issues during market hours.

The limitation is weekends. If having access to support seven days a week matters to you, note that StoneX does not advertise standard 24/7 customer service.

StoneX Trading Awards and Recognition

StoneX Trading carries over several 2025 awards earned by the retail business for CFD trading, professional accounts, and mobile trading.

• Best CFD Broker 2025 – Professional Trader Awards.
• Best Trading App 2025 – Professional Trader Awards.
• Best Trading App 2025 – Good Money Guide Awards.
• Best Spread Bet Broker 2025 – Good Money Guide Awards.
• Best CFD Trading & Spread Bet Provider – Europe 2025 – Global Business and Finance Magazine.
• Best Professional Client Trading Account 2025 – Professional Trader Awards.
• Best Broker for Professional Clients 2025 – Professional Trader Awards.

I would treat awards as background information rather than a reason to choose a broker. Regulation, the legal entity holding your funds, trading costs and withdrawal terms matter far more once real money is involved.

Disclaimer

• CFD and forex trading carries a high level of financial risk.
• StoneX Trading states that 68% of retail investor accounts lose money when trading CFDs with the provider.
• StoneX Trading is a trading name of StoneX Financial Ltd.
• StoneX Financial Ltd is regulated by the UK FCA under FRN 446717.
• StoneX Trading is not currently confirmed as an FSCA-regulated South African retail CFD broker.
• South African residents should confirm whether they are eligible to open an account.
• FSCS eligibility should not automatically be assumed for every non-UK client.
• Leverage can magnify both profits and losses.
• Retail leverage varies by instrument.
• Professional classification can reduce certain retail protections.
• Published spreads are starting figures and can change.
• Share CFDs can attract commission.

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Frequently Asked Questions

What is StoneX Trading?

StoneX Trading is the UK retail trading brand that replaced City Index UK in September 2026. It is operated by StoneX Financial Ltd and gives eligible clients access to CFDs and other leveraged products through Web Trader, TradingView, mobile and MetaTrader 4.

Is StoneX Trading regulated?

Yes. StoneX Financial Ltd is authorised and regulated by the UK Financial Conduct Authority under reference number 446717. That is UK regulation and should not be confused with an FSCA licence in South Africa.

Is StoneX Trading regulated by the FSCA?

StoneX Trading is not currently confirmed on its UK retail pages as an FSCA-regulated South African broker. If you are applying from South Africa, check both the FSCA provider search and the legal entity listed in your own account documents.

Can South African traders use StoneX Trading?

The public UK pages do not clearly confirm South African retail eligibility. South African residents should check whether their residency is accepted and confirm the legal entity, account currency, and funding route before opening an account.

What is the minimum deposit at StoneX Trading?

There is no general minimum deposit simply to open an account. The current minimum card funding transaction is 100 units of the supported base currency. Bank transfers have no stated minimum.

In practice, you still need enough money in the account to cover margin and normal market movement.

What trading platforms does StoneX Trading offer?

StoneX Trading currently offers Web Trader, its proprietary mobile app, direct TradingView integration and MetaTrader 4.

Does StoneX Trading offer MT5?

No. The current UK retail platform range lists MetaTrader 4, not MetaTrader 5.

What leverage does StoneX Trading offer?

UK retail traders can use leverage of up to around 1:30 on major forex pairs. Indices and commodities generally have lower maximum leverage, while share CFDs can be around 1:5. Professional-client conditions can differ.

Does StoneX Trading offer a Demo Account?

Yes. StoneX Trading provides £10,000 in virtual funds on its Demo Account. The standard demo is currently available for 12 weeks, with demo access available across the proprietary platform environment and MT4, depending on the account selected.

Does StoneX Trading charge an inactivity fee?

Yes. StoneX currently states that qualifying retail accounts can be charged £12 per month after 12 months without trading activity while funds remain in the account.

Logging in or making a deposit does not reset the period. A qualifying trade or open position does.

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