City Index launches commission-free trading for US shares

Alongside commission-free trading for US share CFDs, City Index has launched several initiatives to bring US markets closer to home for Australian traders.

• City Index clients will pay zero commissions across all US markets
• Extended hours trading now available to over 70 US share CFDs

SYDNEY, Aug. 24, 2022 /PRNewswire/ -- City Index, a leading provider of global trading platforms, today announced a raft of measures to help bridge the gap for Australians wishing to trade US markets.

The company says that while US stocks provide Australian traders with access to sectors and corporate dynamics on a scale that differs to any other market in the world, accessibility issues has often meant that international share exposure remained a limited part of Australian portfolios.

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."

In addition to announcing commission-free trading, 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.

Brown says that these changes help to address accessibility issues experienced by traders in the past:

"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."

Brown was also quick to point 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^[1], our clients are armed with more capabilities to succeed in these markets than ever before."

About City Index:

City Index is a trading name of StoneX Financial Pty Ltd. It is an award-winning global CFD and Forex Trading provider with 40 years' experience in executing quality trades. The company 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. Find out more by visiting https://cityindex.com/en-au/about-us/why-us/^[2]

About StoneX Group:

StoneX Group Inc. (formerly INTL FCStone Inc.), through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune-500 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ:SNEX^[3]), StoneX Group Inc. and its 2,950 employees serve more than 32,000 commercial and institutional clients, and more than 330,000 active retail accounts, from more than 40 offices spread across five continents. Further information on the Company is available at www.stonex.com^[4].

References

1. ^{^} performance analytics and our investment in behavioural science platform, PlayMaker (www.cityindex.com)
2. ^{^} https://cityindex.com/en-au/about-us/why-us/ (cityindex.com)
3. ^{^} SNEX (protect-eu.mimecast.com)
4. ^{^} www.stonex.com (protect-eu.mimecast.com)