CITY CREDIT

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

What is CITY CREDIT？

City Credit Capital (Labuan) Ltd. (CCCLL), a wholly owned subsidiary of City Credit Investment Bank Limited (CCIB), is a licensed foreign exchange broker that is registered with the Ministry of Finance in Malaysia and holds a suspicious clone Labuan Financial Services Authority (LFSA) license.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Based on the information provided, CITY CREDIT has some advantages such as a proprietary trading platform and multi-channel customer support. However, the broker also has some concerning disadvantages such as lack of regulation, reports of withdrawal issues, and limited information on their website. It is important for potential clients to exercise caution and conduct thorough research before investing with CITY CREDIT or any other broker.

CITY CREDIT Alternative Brokers

There are many alternative brokers to CITY CREDIT depending on the specific needs and preferences of the trader. Some popular options include:

• IronFX: A good option for experienced traders looking for a wide range of trading instruments.

• FOREX TB: A suitable choice for beginner traders looking for a user-friendly trading platform and educational resources.

• ForexMart: A decent choice for traders looking for low spreads and fast execution, but lacking in some areas such as customer service.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is CITY CREDIT Safe or Scam？

Based on the information provided, it appears that CITY CREDIT may be a scam. The fact that their Labuan Financial Services Authority (LFSA) license is suspicious and the broker is unregulated raises serious red flags. Investors should exercise extreme caution when considering to invest with this broker, and it is recommended to choose a regulated broker instead. Additionally, it is important to thoroughly research a broker before investing any funds and to be wary of brokers with suspicious or unclear regulatory licenses.

Market Instruments

As CITY CREDIT is an unregulated broker, there is limited information available about their market instruments. However, it appears that CITY CREDIT only offers forex trading to its clients. There is no information available on the number of currency pairs available for trading, leverage, or any other trading conditions.

Trading Platforms

CITY CREDIT offers a proprietary trading platform called iTrading, which boasts a range of features to enhance the trading experience. The platform offers instant executions and promises no requotes or slippage, ensuring that trades are executed quickly and efficiently. Interbank dealing spreads and streaming executable quotes are also provided, allowing traders to access competitive pricing in real-time.

The platform also comes with a free charting package and real-time news, giving traders the tools they need to make informed trading decisions. In addition, traders have access to real-time account and position tracking, allowing them to monitor their portfolio in real-time.

With 24/7 platform access, multi-lingual and multi-currency accounts, and simultaneous multiple account access, iTrading offers a comprehensive and versatile trading platform.

See the trading platform comparison table below:

Please note that the information provided in the table may be subject to change and it is important to check with the respective brokers for the most up-to-date information.

Customer Service

CITY CREDIT seems to have a relatively straightforward approach to customer service, with the company offering support via telephone, fax, and email. The office address is also provided openly on the website, which could be beneficial for those who prefer to speak to someone in person. Additionally, the availability of a fax number suggests that the broker caters to a diverse range of clients who might prefer more traditional forms of communication.

Note: These pros and cons are subjective and may vary depending on the individual's experience with CITY CREDIT's customer service.

User Exposure on WikiFX

It is important to exercise caution when investing with any broker, and this includes CITY CREDIT. It is concerning to see a report of unable to withdraw. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Conclusion

As a whole, CITY CREDIT offers a web-based iTrading platform and multi-channel customer support. However, there are some concerns about the regulation of the broker and reports of withdrawal issues, which may be a red flag for potential clients. Additionally, there are not transparent on their trading conditions and deposit/withdrawal. Their website lacks much important information. Overall, traders should exercise caution and thoroughly research before investing with CITY CREDIT or any broker.

Frequently Asked Questions (FAQs)