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City Index vs Plus500: Comparison and Analysis

Written by Filippo Ucchino Fact-Checked by Luca Puddu Publication Date Last Updated
Our verdict · CFD trading

City Index is better than Plus500 for CFD trading in Nigeria by a small margin, because it asks for a lower minimum deposit (50.00 USD against 100.00 USD), lists more tradable symbols (13,500 against 2,800), runs MetaTrader 4 next to the proprietary platform both brokers share, opens micro and fixed-spread accounts and allows hedging and expert advisors. Plus500, on the other hand, offers a guaranteed stop loss, opens Islamic accounts and moves money faster, crediting deposits and paying out withdrawals in 1 day against 3 days. City Index holds licences from the CSSF, CySEC, ASIC, the FCA and the MAS, and Plus500 from CySEC, ASIC, the DFSA, the FCA, the FMA (New Zealand), the FSA (Seychelles), the ISA, the MAS and the FSCA. Both brokers charge 8.00 USD per lot to trade EUR/USD, cover CFDs on commodities, crypto, forex, indices and stocks, open professional accounts, allow API access, hold three account base currencies and provide a demo account.

Best overall

City Index

CFDCFD This broker offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD to rate it on that. Available in your country City Index accepts clients from the country this site is for.
84CFDOverall score InvestinGoal score from 0 to 100, calculated from the data in this comparison across 12 areas (regulation, safety, costs, platforms and more). CFD and stock trading are scored separately: the number follows the side selected above.
Open Account

70% of retail investor accounts lose money when trading CFDs with this provider.

Plus500

CFDCFD This broker offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD to rate it on that. Available in your country Plus500 accepts clients from the country this site is for.
76CFDOverall score InvestinGoal score from 0 to 100, calculated from the data in this comparison across 12 areas (regulation, safety, costs, platforms and more). CFD and stock trading are scored separately: the number follows the side selected above.
Open Account

CFD service. 82% of retail investor accounts lose money

Best for

What we compare A comparison of the kinds of traders City Index and Plus500 are best suited to, based on what each one actually offers in Nigeria.
1 / 12

City Index is better than Plus500 for news traders and algo traders, while Plus500 is better for crypto traders. Both are a good fit for professional traders, high-volume traders and swing traders.

Best for
Overall score City Index 84 Best Plus500 76 -8
Day trading i
Long-term investing i
Professional traders i
High-volume traders i
Scalpers i
Swing traders i
News traders i
Algo traders i
Stock traders i
Crypto traders i
Futures traders i
Options traders i

Regulation

What we compare A comparison between the financial authorities that supervise City Index and the ones that supervise Plus500.
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City Index and Plus500 are both regulated by top-tier authorities, City Index by CSSF, CySEC and ASIC (Australia) and Plus500 by CySEC, ASIC (Australia) and the FCA (United Kingdom).

Regulation
Section score City Index 100 Plus500 100
Tier-1 regulators
ESMA (European Union) i CSSF (Luxembourg)
FCA (United Kingdom) i
ASIC (Australia) i
CFTC (United States) i
NFA (United States) i
SEC (United States) i
CIRO (Canada) i
MAS (Singapore) i
SFC (Hong Kong) i
JFSA (Japan) i
FINMA (Switzerland) i
Tier-2 regulators
FMA (New Zealand) i
CBR (Russia) i
FSCA (South Africa) i
DFSA (Dubai) i
CSRC (China) i
ISA (Israel) i
LFSA (Malaysia) i
JSC (Jordan) i
CMA (Kenya) i
Tier-3 regulators
FSA (Seychelles) i
MMA (Maldives) i
SCB (Bahamas) i
FSC (Mauritius) i
VFSC (Vanuatu) i
FSC (Belize) i
CIMA (Cayman Islands) i
SV FSA (Saint Vincent and the Grenadines) i
FSRC (St. Kitts & Nevis) i
BMA (Bermuda) i
BVI FSC (British Virgin Islands) i
EDR (External Dispute Resolution) i

Safety

What we compare A comparison of the tools and services that City Index and Plus500 have in place to protect your money in Nigeria.
3 / 12

Both City Index and Plus500 offer segregated client funds and two-factor authentication. City Index also offers an investor compensation scheme and additional money insurance.

Safety
Section score City Index 95 Best Plus500 72 -23
Company info
Is it publicly traded i
Is it a bank i
Year founded i 1983 2008
Parent company i StoneX Group Inc Plus500 Ltd.
CEO i Clive Cooke David Zruia
Money safety
Segregated client funds i
Two-factor authentication i
Investor compensation scheme i
Additional money insurance i
Partner bank i N/A
Brand power
Number of customers worldwide i 235,000 30,000,000
Annual revenue i USD 124,800,000 USD 768,300,000
Monthly website search traffic i 12.1K monthly visits

Costs

What we compare A comparison of what it costs to trade with City Index and with Plus500 in Nigeria, both on each trade and on holding the account.
4 / 12

City Index and Plus500 are equally good for costs, since City Index has tighter S&P 500 CFD spreads, at 0.4 points (against Plus500's 0.7 points), and has tighter gold CFD spreads, at 0.5 points (against Plus500's 0.75 points). On the other hand, Plus500 does not charge forex commissions (against City Index's 10 USD per lot), and does not charge US stock CFD fees (against City Index's 0.02 USD). Neither City Index nor Plus500 charges account maintenance fees or deposit fees.

Costs
Section score City Index 69 Plus500 69
Broker fees
Deposit fees i
Withdrawal fees i
Overnight fees i
Inactivity fees i
Currency conversion fees i
Discounts on volume i
Real time market data fee i
Dividend withholding i
Account opening fees i
Account maintenance fee i
Portfolio management fee i
Fees on CFDs
Forex commission per lot i USD 10 Free
EUR/USD average standard spread i
0.8 pips
0.8 pips
EUR/USD average raw spread i
EUR/USD average fixed spread i
EUR/USD total cost per lot i USD 8 USD 8
S&P 500 fees (CFD) i 0.4 points 0.7 points
Gold fees (CFD) i 0.5 points 0.75 points
Bitcoin fees (CFD) i USD 40 USD 118.34
US stocks fees (CFD) i USD 0.018 Free
Fees on stocks
Stock fee type i Spread
US stocks fees (real) i
ETF fees (real) i
Management costs i
Connection costs i
Fees on futures
Futures fees per contract i
Platform fees i
Fees on options
Options fees per contract i
Event fees i
Fees on savings plans
IRA opening fee i
IRA maintenance fee i
401k opening fee i
401k maintenance fee i

Available markets

What we compare A comparison of the markets and products you can trade with City Index and with Plus500 in Nigeria, and of how many instruments each one gives access to.
5 / 12

There is little between City Index and Plus500 on available markets. Both City Index and Plus500 offer CFDs on commodities, crypto, forex, indices and stocks. City Index goes a step further, as it gives access to 13,500 tradable symbols (against Plus500's 2,800).

Available markets
Section score City Index 75 Plus500 75
Total tradable symbols i 13,500 2,800
Currency pairs i
Indices i
Commodities i
Stocks i
ETF i
Cryptocurrencies i
Bonds i
Interest rates i
Portfolios i
CFDs i Commodities, Crypto, Forex, Indices, Stocks Commodities, Crypto, Forex, Indices, Stocks
Futures i
Options i
Assets you can own i

Platform

What we compare A comparison of the trading platforms that City Index and Plus500 make available to their clients in Nigeria.
6 / 12

City Index is better than Plus500 for platforms, as City Index offers MetaTrader 4 and AutoChartist, which Plus500 does not. City Index and Plus500 both offer a proprietary platform and one-click trading.

Platform
Section score City Index 88 Best Plus500 72 -16
Proprietary platform i
MetaTrader 4 i
MetaTrader 5 i
cTrader i
Social trading platform i
Copy trading platform i
ZuluTrade i
TradingView i
Duplitrade i
Mirror Trader i
NinjaTrader i
AutoChartist i
Real time pricing i
5 digit pricing i
One-click trading i

Mobile

What we compare A comparison of the mobile apps of City Index and Plus500 in Nigeria, and of what each one lets you do from your phone.
7 / 12

City Index and Plus500 are equally good for mobile trading, since City Index offers the MetaTrader 4 app and mobile trading signals. On the other hand, Plus500 offers mobile charting tools and mobile drawing tools. Both City Index and Plus500 offer a proprietary mobile app and mobile price alerts.

Mobile
Section score City Index 80 Plus500 80
Proprietary app i
Social trading app i
Copy trading app i
MetaTrader 4 app i
MetaTrader 5 app i
cTrader app i
Mobile trading signals i
Mobile alerts i
Mobile charting tools i
Mobile drawing tools i
Mobile watchlist i
Smartwatch app i

Trading features

What we compare A comparison of the trading tools and strategies that City Index and Plus500 allow on their platforms in Nigeria.
8 / 12

City Index is better than Plus500 for trading features, since City Index allows for automated trading, expert advisors and hedging. Both City Index and Plus500 offer negative balance protection and trailing stops.

Trading features
Section score City Index 79 Best Plus500 72 -7
Trade execution
Broker type i Agency Agency
Average execution time i 2 ms
Slippage occurrence i
Requotes occurrence i
Tier-1 liquidity providers i
PFOF i
Leverage
Major FX pairs leverage i 30:1 300:1
Minor/Exotic FX pairs leverage i 20:1 300:1
Major indices leverage i 20:1 150:1
Minor indices leverage i 10:1 150:1
Gold leverage i 20:1 250:1
Commodities leverage i 10:1 150:1
Equities leverage i 5:1 20:1
Cryptocurrency leverage i 2:1 5:1
Risk management
Stop losses i
Take profits i
Limit orders i
Trailing stop i
Margin call i
OCO orders i
Guaranteed stop loss i
Negative balance protection i
Minimum trade size (FX) i 0.01 lots 0.01 lots
Minimum trade size (stocks) i USD 0 USD 0
Fractional stocks i
Trading compliance
Scalping strategies allowed i
Hedging strategies allowed i
Automated trading strategy allowed i
EAs use allowed i
HFT strategy allowed i
VPS use allowed i
API use allowed i
Price scraping allowed i
FIFO rule applies i

Account types

What we compare A comparison of the kinds of account you can open at City Index and at Plus500 in Nigeria, and of who each one is meant for.
9 / 12

Plus500 is better than City Index for account types, given that Plus500 offers an Islamic account, an unlimited demo account and a swap-free account, which City Index does not. City Index and Plus500 both offer a demo account and a professional traders account.

Account types
Section score City Index 40 -11 Plus500 51 Best
Demo account i
Unlimited demo account i
Standard account i
Micro account i
Cent account i
Nano account i
Raw spread account i
ECN account i
Swap-free account i
Islamic account i
Professional traders account i
Fixed spread account i
Spread betting account i
Copy trading account i
Corporate account i
Managed account i
Stock investing account i
Margin investing account i
Savings account i
Retirement account i

Account opening

What we compare A comparison of what it takes to open and fund an account with City Index and with Plus500 in Nigeria.
10 / 12

Plus500 is better than City Index for account opening, since Plus500 supports e-wallets, which City Index does not, credits deposits faster, within 1 day (against City Index's 3 days), and pays out withdrawals faster, within 1 day (against City Index's 3 days). However, the minimum deposit is lower at City Index, at 50 USD (against Plus500's 100 USD).

Account opening
Section score City Index 62 -10 Plus500 72 Best
Minimum deposit i USD 50 USD 100
Minimum withdrawal i USD 0 USD 0
Wire transfers i
Credit cards i
Debit cards i
eWallets i PayPal, Skrill
Local payment methods i
Account base currencies i AUD, EUR, USD AUD, EUR, USD
Deposit waiting time i up to 3 business days up to 1 business days
Withdrawal waiting time i up to 3 business days up to 1 business days
Bonus program i

Customer care

What we compare A comparison of the customer support of City Index and Plus500 in Nigeria, in how it can be reached and how fast it answers.
11 / 12

City Index is better than Plus500 for customer care, since City Index offers a dedicated account manager, phone support and priority support, which Plus500 does not. Both City Index and Plus500 offer live chat and email support.

Customer care
Section score City Index 73 Best Plus500 58 -15
Number of languages supported i 6 29
Website languages i Arabic, German, English, Polish, Spanish, Chinese Arabic, Bulgarian, Czech, Danish, German, English, Estonian, Finnish, French, Hebrew, Croatian, Hungarian, Icelandic, Latvian, Lithuanian, Maltese, Malay, Dutch, Norwegian, Polish, Portuguese, Romanian, Russian, Slovak, Slovenian, Spanish, Swedish, Turkish, Chinese
Website available in English i
Customer support languages i Arabic, German, English, Polish, Spanish, Chinese Arabic, Bulgarian, Czech, Danish, German, English, Estonian, Finnish, French, Hebrew, Croatian, Hungarian, Icelandic, Latvian, Lithuanian, Maltese, Malay, Dutch, Norwegian, Polish, Portuguese, Romanian, Russian, Slovak, Slovenian, Spanish, Swedish, Turkish, Chinese
Customer support in English i
Call back request i
Email support i
Phone support i
Live chat i
Priority customer support i
Dedicated account manager i
Cash sweep i
Stock lending i
Distributes proceeds i
Tax withholding agent i
Tax assistance i

Learning

What we compare A comparison of the educational material that City Index and Plus500 provide to their clients in Nigeria.
12 / 12

City Index is better than Plus500 for learning, as City Index offers professional reports, daily market commentary and an economic calendar, which Plus500 does not. Both City Index and Plus500 offer education for advanced traders and webinars.

Learning
Section score City Index 100 Best Plus500 75 -25
Education
Education center i
Education for beginners i
Education for advanced traders i
Webinars i
Tutorials i
Glossary i
Research
Economic calendar i
Traders' sentiment i
Daily market commentary i
Daily trading ideas i
News via social media i
Professional reports i
Watchlist i
City Index
Open Account 70% of retail investor accounts lose money when trading CFDs with this provider.
Plus500
Open Account CFD service. 82% of retail investor accounts lose money
Our verdict

City Index vs Plus500: which one should you choose?

City Index

CFD Choose City Index, regulated by the FCA and the MAS, if you want a CFD and forex broker with a wide choice of markets, MetaTrader 4 and fixed-spread accounts.

Open Account 70% of retail investor accounts lose money when trading CFDs with this provider.
Plus500

CFD Choose Plus500, regulated by the FCA and ASIC, if you want an online CFD broker with a guaranteed stop loss, fast withdrawals and Islamic accounts.

Open Account CFD service. 82% of retail investor accounts lose money

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