To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare City Index vs Plus500.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. City Index is a better option with a 4.00 star rating over Plus500's 3.00 star rating.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. City Index and Plus500 both are regulated in a major hub. Both City Index and Plus500 are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. City Index offers its clients access to 84 different currency pairs while Plus500 has 60 available pairs, a difference of 24.
To round out our comparison of City Index vs Plus500, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. City Index makes Meta Trader available to clients, while Plus500 does not. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. Plus500 trails City Index by 25 total charting tools, with City Index offering 25 and Plus500 offering 0. City Index boasts an offering of 139 different indicators (for example, moving averages) compared to Plus500's 103 available indicators.
Overall, City Index boasts 4.50 stars versus Plus500's 3.00 stars. And, when it comes to individual category awards, both City Index and Plus500 found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018.