StoneX Retires City Index Brand as Retail FX Revenue Drops 19%

StoneX Group is retiring the City Index brand in the UK, replacing it with StoneX Trading as part of a broader integration of its retail offering under the parent company's identity. The change takes effect on September 12, with existing clients keeping their accounts, platforms and support arrangements.

The StoneX Trading website is already live, and new UK account openings are moving to the new name, which will also replace City Index across mobile apps and client communications. StoneX Trading remains a trading name of StoneX Financial Ltd, regulated by the UK Financial Conduct Authority (FCA) under reference number 446717.

The UK website offers spread betting, contracts for difference (CFDs) and foreign exchange trading across more than 13,500 markets, with interfaces including Web Trader, TradingView, MetaTrader 4 and mobile apps. StoneX said the new identity will give retail traders access to research and market intelligence previously available to institutional clients, though it did not specify new products, pricing or release dates.

Giles Watts, StoneX's EMEA regional business director for self-directed trading, said "the real change is in the brand behind the experience." Alastair Hine, global head of self-directed trading, called the new name "our ambition for the future of self-directed trading."

The rebrand follows a weaker quarter for StoneX's retail FX and CFD operations. For the three months ended June 30, Self-Directed/Retail operating revenue fell 13% year over year to $96.3 million. Revenue from FX and CFD contracts declined 19% to $64.7 million, while average daily volume dropped 27% to $6.805 billion. Revenue per million rose 11% to $147. The company attributed the revenue decline primarily to lower trading volume.

City Index dates to 1983 and became part of GAIN Capital in 2015. StoneX acquired GAIN Capital for $236 million in 2020. The latest move continues a longer integration that began after the acquisition.