Dive into our comparison of FOREX.com vs Plus500. We dissect each Forex brokers trading account and costs, platforms, regulators, and more to help you choose your ideal forex broker.
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FOREX.com and Plus500 are two of the most popular forex brokers in the industry. FOREX.com is known for its advanced trading platforms and comprehensive educational resources, while Plus500 is renowned for its user-friendly interface and a wide range of tradable assets.
When it comes to trading costs, both FOREX.com and Plus500 offer competitive pricing. However, the costs can vary depending on the account type and trading volume. You can check out our unique research on low commission forex brokers and DMA forex brokers for more information.
When it comes to standard account spreads, it’s clear that there are some differences between FOREX.com and Plus500.
FOREX.com has an average spread for EUR/USD at 1.2, USD/JPY at 1.5, GBP/USD at 1.6, AUD/USD at 1.4, USD/CAD at 2.6, EUR/GBP at 1.5, EUR/JPY at 2.8, and AUD/JPY at 2.3. On the other hand, Plus500 has slightly higher spreads with EUR/USD at 1.7, USD/JPY at 1.9, GBP/USD at 2.3, AUD/USD at 1.4, USD/CAD at 2, EUR/GBP at 1.7, EUR/JPY at 2.4, and AUD/JPY at 3.
| Forex Pair | FOREX.com | Plus500 | Industry Average |
|---|---|---|---|
| EUR/USD | 1.2 | 1.7 | 1.35 |
| USD/JPY | 1.5 | 1.9 | 1.54 |
| GBP/USD | 1.6 | 2.3 | 1.68 |
| AUD/USD | 1.4 | 1.4 | 1.63 |
| USD/CAD | 2.6 | 2 | 1.93 |
| EUR/GBP | 1.5 | 1.7 | 1.69 |
| EUR/JPY | 2.8 | 2.4 | 2.04 |
| AUD/JPY | 2.3 | 3 | 2.31 |
Standard Account Analysis Updated September 2023[1]September 2023 Published And Tested Data
Comparing these figures to the industry average, FOREX.com tends to have lower spreads for most forex pairs, making it a more cost-effective choice for traders. Plus500, while slightly higher, still falls close to the industry average, indicating that it’s still a competitive option.
In my opinion, if cost is a major factor in your decision, FOREX.com appears to be the cheaper option based on these average spreads. However, it’s important to remember that cost isn’t everything. The trading environment, platform, and customer service are also crucial factors to consider when choosing a forex broker.
For RAW accounts, FOREX.com offers competitive spreads, while Plus500 does not offer RAW accounts. Our exclusive research on RAW account spreads can be found here.
FOREX.com charges a commission of $5 per 100k traded for a standard account, while Plus500 does not charge any commission. However, it’s important to consider both the spread and commission when calculating the total cost of trading.
Both FOREX.com and Plus500 do not charge any fees for deposits and withdrawals, which is a significant advantage for traders.
FOREX.com charges an inactivity fee of $15 per month after one year of inactivity, while Plus500 charges an inactivity fee of $10 per month after three months of inactivity.
Verdict: When it comes to trading costs, FOREX.com offers more transparency and competitive pricing, especially for high-volume traders. Plus500, on the other hand, is more suited for casual traders due to its zero-commission policy and lower inactivity fee.
| Broker | Inactivity Fees | Overnight Financing Charges | Currency Conversion Fees |
|---|---|---|---|
| FOREX.com | Yes | Yes | Yes |
| Plus500 | Yes | Yes | Yes |
FOREX.com ReviewVisit FOREX.com
*Your capital is at risk ‘71% of retail CFD accounts lose money’
Trust and regulation are crucial factors when choosing a forex broker. Both FOREX.com and Plus500 are regulated by multiple top-tier authorities, ensuring a high level of trust and security for traders.
FOREX.com is regulated by the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Commodity Futures Trading Commission (CFTC), and the Investment Industry Regulatory Organization of Canada (IIROC). Plus500, on the other hand, is regulated by the FCA, ASIC, the Cyprus Securities and Exchange Commission (CySEC), and the Monetary Authority of Singapore (MAS).
Verdict: Both FOREX.com and Plus500 have a high trust score due to their regulation by top-tier authorities. However, FOREX.com has a slight edge due to its regulation by a greater number of top-tier authorities.
| Broker | Regulators |
|---|---|
| FOREX.com | FCA, ASIC, CFTC, IIROC |
| Plus500 | FCA, ASIC, CySEC, MAS |
FOREX.com ReviewVisit FOREX.com
*Your capital is at risk ‘71% of retail CFD accounts lose money’
FOREX.com and Plus500 offer different trading platforms to cater to the needs of different traders. You can check out our unique research on the best cTrader forex brokers and the best forex broker demo accounts for more information.
FOREX.com offers both MetaTrader 4 and MetaTrader 5, two of the most popular trading platforms in the forex industry. Plus500, on the other hand, does not offer MetaTrader but has its proprietary platform which is user-friendly and intuitive.
FOREX.com does not offer cTrader or TradingView. Plus500 also does not offer these platforms but provides a comprehensive charting package within its proprietary platform.
Neither FOREX.com nor Plus500 offer social or copy trading features. Traders looking for these features may need to consider other brokers.
FOREX.com offers VPS services for automated trading, while Plus500 does not. FOREX.com also provides a range of other trading tools, including advanced charting, market analysis, and educational resources.
Verdict: FOREX.com offers a more comprehensive range of trading platforms and tools, making it the better choice for traders who require advanced trading features.
| Broker | VPS | Other Trading Tools |
|---|---|---|
| FOREX.com | Yes | Advanced charting, market analysis, educational resources |
| Plus500 | No | Comprehensive charting package within its proprietary platform |
FOREX.com ReviewVisit FOREX.com
*Your capital is at risk ‘71% of retail CFD accounts lose money’
When it comes to the trading environment, both FOREX.com and Plus500 offer a user-friendly interface and a wide range of tradable assets. However, FOREX.com offers a more advanced trading environment with the availability of MetaTrader 4 and 5 and VPS services for automated trading. Plus500, on the other hand, offers a simpler, more intuitive trading environment suitable for beginner traders. You can check out our research on trading environments.
Verdict: FOREX.com offers a better trading environment for advanced traders due to its comprehensive trading platforms and tools. Plus500 is more suited for beginner traders due to its user-friendly interface.
FOREX.com ReviewVisit FOREX.com
*Your capital is at risk ‘71% of retail CFD accounts lose money’
FOREX.com offers several account types, including Standard, Commission, and Direct Market Access accounts, catering to different types of traders. Plus500, on the other hand, offers a single account type with competitive spreads and no commission. You can check out our unique research on the Best spread betting brokers for more information.
Verdict: FOREX.com offers more flexibility with its range of account types, catering to different trading styles and strategies. Plus500’s single account type may be simpler and more straightforward for beginner traders.
| Broker | Account Types |
|---|---|
| FOREX.com | Standard, Commission, Direct Market Access accounts |
| Plus500 | Single account type with competitive spreads and no commission |
Both FOREX.com and Plus500 offer 24/7 customer service, including live chat, email, and phone support. However, FOREX.com provides more comprehensive support with the availability of dedicated account managers for eligible accounts.
Verdict: FOREX.com offers superior customer service with the availability of dedicated account managers and comprehensive support channels.
| Broker | Customer Service |
|---|---|
| FOREX.com | 24/7 customer service, including live chat, email, and phone support, dedicated account managers for eligible accounts |
| Plus500 | 24/7 customer service, including live chat, email, and phone support |
FOREX.com ReviewVisit FOREX.com
*Your capital is at risk ‘71% of retail CFD accounts lose money’
Apart from the trading costs, platforms, and customer service, there are other factors to consider when choosing a forex broker.
FOREX.com requires a minimum deposit of $100, while Plus500 requires a minimum deposit of $200.
Both FOREX.com and Plus500 offer a variety of payment methods, including credit/debit cards, bank transfers, and e-wallets.
FOREX.com offers a maximum leverage of up to 500:1 for professional traders, while Plus500 offers a maximum leverage of up to 300:1.
Verdict: FOREX.com offers higher leverage and a lower minimum deposit, making it more accessible fortraders with smaller capital. Plus500, however, offers a simpler account structure and user-friendly platform suitable for beginner traders. You can check out our unique research on Micro Accounts for more information.
| Broker | Minimum Deposit | Payment Methods | Maximum Leverage |
|---|---|---|---|
| FOREX.com | $100 | Credit/debit cards, bank transfers, e-wallets | Up to 500:1 for professional traders |
| Plus500 | $200 | Credit/debit cards, bank transfers, e-wallets | Up to |
Best For Beginner Traders: Plus500, with its user-friendly platform, simple account structure, and competitive spreads, is an excellent choice for beginner traders.
Best For Experienced Traders: FOREX.com, with its advanced trading platforms, comprehensive trading tools, and flexible account types, is better suited for experienced traders.
In conclusion, both FOREX.com and Plus500 are excellent forex brokers with their unique strengths. Your choice would depend on your trading needs and experience level.
| Broker | Best For |
|---|---|
| FOREX.com | Experienced Traders |
| Plus500 | Beginner Traders |
FOREX.com ReviewVisit FOREX.com
*Your capital is at risk ‘71% of retail CFD accounts lose money’
FOREX.com is generally better for beginner traders due to its lower minimum deposit, comprehensive educational resources, and range of account types.
FOREX.com offers faster execution speeds and a wider range of account types, making it potentially more suitable for experienced traders. However, Plus500’s user-friendly platform and competitive spreads are also worth considering.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
