FP Markets has spreads from 0 pips with $3.50 commission using MT4 and MT5. Plus500 has no commissions and a trading platform with good risk management. See how forex brokers compare in this FP Markets vs Plus500 review.
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Our comprehensive comparison covers the 10 most crucial trading factors to help you decide between FP Markets and Plus500. Here are some standout differences:
Spreads
Looking at the data, it’s clear that there are some differences in the average standard account spreads between FP Markets and Plus500 across various forex pairs. For instance, FP Markets has a lower spread for the EUR/USD pair at 1.1 compared to Plus500’s 0.9. This trend continues across the GBP/USD and USD/JPY pairs, where FP Markets consistently offers lower spreads than Plus500.
However, when we consider the AUD/USD, USD/CAD, USD/CHF, and NZD/USD pairs, Plus500 turns the tables and offers lower spreads than FP Markets. This suggests that while FP Markets may be more cost-effective for trading some pairs, Plus500 could offer better value for others.
| Forex Pair | FP Markets | Plus500 | Industry Average |
|---|---|---|---|
| EUR/USD | 1.1 | 0.9 | 1.0 |
| GBP/USD | 1.6 | 1.4 | 1.5 |
| USD/JPY | 0.8 | 0.7 | 0.75 |
| AUD/USD | 1.2 | 1.0 | 1.1 |
| USD/CAD | 1.3 | 1.1 | 1.2 |
| USD/CHF | 1.4 | 1.2 | 1.3 |
| NZD/USD | 1.5 | 1.3 | 1.4 |
Standard Account Analysis Updated April 2024[1]April 2024 Published And Tested Data
.Comparing these brokers to the industry average, both FP Markets and Plus500 generally offer competitive spreads. In some cases, such as the EUR/USD and GBP/USD pairs, FP Markets even beats the industry average. Plus500, on the other hand, tends to hover just below the industry average across most pairs.
In conclusion, both FP Markets and Plus500 have their strengths and weaknesses when it comes to standard account spreads. Your choice between the two might depend on which forex pairs you intend to trade most frequently. However, considering the overall data, I would argue that FP Markets offers a slightly better deal in terms of spreads, especially when trading the more popular pairs like EUR/USD and GBP/USD.
Commission
In terms of commission, FP Markets charges a commission of $7 per lot on its Raw Account. Plus500, on the other hand, does not charge any commission on trades. Instead, they incorporate their fees into the spread, which can result in slightly wider spreads compared to FP Markets’ Raw Account.
The commission structure of FP Markets is quite competitive, especially considering the tight spreads offered on the Raw Account. However, for traders who prefer a commission-free trading environment, Plus500 might be a more suitable option.
Verdict
Based on the comparison, FP Markets wins the Spreads and Fees section due to its tighter spreads and competitive commission structure. However, Plus500’s commission-free trading environment might be more appealing to some traders.
| Broker | Average Spread (EUR/USD) | Commission |
|---|---|---|
| FP Markets | 0.1 pips | $7 per lot (Raw Account) |
| Plus500 | Slightly higher than FP Markets | No commission |
FP Markets ReviewVisit FP Markets
FP Markets offers both MetaTrader 4 and MetaTrader 5, two of the most popular trading platforms in the forex industry. These platforms are known for their advanced charting tools, automated trading capabilities, and wide range of technical indicators.
Plus500, on the other hand, offers its own proprietary trading platform. The Plus500 platform is user-friendly and intuitive, making it a good choice for beginner traders. However, it lacks the advanced features and customization options offered by MetaTrader.
Verdict
In terms of trading platforms, FP Markets wins due to its MetaTrader 4 and MetaTrader 5. However, beginner traders might prefer the simplicity and ease of use of Plus500’s proprietary platform.
| Broker | Trading Platforms |
|---|---|
| FP Markets | MetaTrader 4, MetaTrader 5 |
| Plus500 | Proprietary platform |
FP Markets offers two types of accounts: the Standard Account and the Raw Account. The Standard Account offers wider spreads but no commission, making it a good choice for beginner traders. The Raw Account, on the other hand, offers tighter spreads and a commission of $7 per lot, making it more suitable for experienced traders and scalpers.
Plus500 offers a single type of account with no commission and slightly wider spreads compared to FP Markets’ Raw Account. The simplicity of Plus500’s account structure might be appealing to beginner traders who prefer a straightforward trading environment.
Verdict
In terms of account types, FP Markets wins due to its flexibility in offering two different types of accounts to cater to different types of traders. However, beginner traders might prefer the simplicity of Plus500’s single account type.
| Broker | Account Types |
|---|---|
| FP Markets | Standard Account, Raw Account |
| Plus500 | Single Account Type |
When it comes to trading experience, FP Markets is the Usain Bolt of forex brokers. Their order execution speed is lightning-fast, a crucial factor for traders like us who need to seize opportunities in real-time. Plus500, on the other hand, offers a user-friendly experience with its proprietary platform, perfect for those just dipping their toes into trading.
Verdict
If you’re an experienced trader who values speed and a wide range of trading tools, FP Markets is your best bet. However, if you’re a beginner or value a broad range of trading instruments, Plus500 is the way to go.
FP Markets Trust Score
Plus500 Trust Score
Both FP Markets and Plus500 are regulated by top-tier regulatory bodies, which adds a layer of trust and security for traders. FP Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). Plus500, on the other hand, is regulated by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Australian Securities and Investments Commission (ASIC) in Australia.
It’s worth noting that both brokers offer negative balance protection, which means that traders cannot lose more money than they have deposited in their trading accounts.
Verdict
In terms of trust and regulation, it’s a tie. Both FP Markets and Plus500 are regulated by top-tier regulatory bodies and offer negative balance protection, providing a secure trading environment for traders.
| FP Markets | Plus500 | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) CYSEC (Cyprus) |
ASIC (Australia) FCA (UK) CYSEC (Cyprus) FMA (New Zealand) MAS (Singapore) |
| Tier 2 Regulation | DFSA (Dubai) EFSRA |
|
| Tier 3 Regulation | FSA-S (Seychelles) FSC-M (Mauritius) FSCA (South Africa) |
FSA-S (Seychelles) FSCA (South Africa) |
FP Markets and Plus500 both offer a robust range of trading instruments, but they cater to different types of traders. FP Markets is more focused on forex pairs, while Plus500 offers a broader range of CFDs.
| Product Type | FP Markets | Plus500 |
|---|---|---|
| Forex Pairs | Yes | Yes |
| Commodities | Yes | Yes |
| Indices | Yes | Yes |
| Shares | Yes | Yes |
| Cryptos | Yes | Yes |
| ETFs | No | Yes |
| Options | No | Yes |
| Bonds | No | Yes |
| Metals | Yes | No |
| Energies | Yes | No |
Verdict
For traders who value a wide range of trading instruments, Plus500 is the clear winner. It offers a more comprehensive range of CFDs and Markets, making it the go-to for traders looking for variety.
FP Markets offers a decent range of educational resources, including webinars and eBooks. Plus500, however, is a bit limited in this area.
Verdict
Based on our scores, FP Markets offers superior educational resources. It’s the broker to choose if you’re keen on expanding your trading knowledge through webinars, eBooks, and courses.
FP Markets offers 24/7 customer support via live chat, email, and phone, which is a big plus for international traders like us. Plus500 offers 24/7 customer support but lacks phone support.
| Customer Service Feature | FP Markets | Plus500 |
|---|---|---|
| Live Chat | Yes | Yes |
| Yes | Yes | |
| Phone | Yes | No |
| Multilingual | Yes | Yes |
| 24/7 Support | Yes | Yes |
Verdict
FP Markets takes the cake in customer service. The availability of phone support adds an extra layer of convenience, making it the better choice for traders who may need immediate assistance.
Both FP Markets and Plus500 offer a variety of payment methods, including credit cards, bank transfers, and e-wallets like Skrill and Neteller. However, FP Markets also offers the option to deposit via Bitcoin, which might be appealing to some traders.
| Funding Option | FP Markets | Plus500 |
|---|---|---|
| Credit Card | ✓ | ✓ |
| Bank Transfer | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| PayPal | ✓ | ✓ |
| Bitcoin | ✓ | ✗ |
| UnionPay | ✓ | ✗ |
| FasaPay | ✓ | ✗ |
| POLi | ✓ | ✗ |
| BPay | ✓ | ✗ |
Verdict
FP Markets offers better funding options due to its Bitcoin deposit feature. If you’re a trader who values diverse funding options, FP Markets is the broker for you.
FP Markets and Plus500 both offer $100 as the minimum deposit requirement. Both brokers have the same minimum deposit amounts regardless of payment method and account currency.
The table below shows the minimum deposit requirements for Plus500 and FP Markets.
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Paypal | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Bank Wire | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Skrill | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
Verdict
It’s a tie with both Plus500 and FP Markets having the same $100 minimum deposit requirement. It then comes down to the other features these brokers offer in deciding which is best for you.
FP Markets is the winner because it offers a more comprehensive trading experience, from lower spreads and fees to superior customer service and educational resources. The table below summarises the key information leading to this verdict.
| Criteria | FP Markets | Plus500 |
|---|---|---|
| Lowest Spreads And Fees | ✓ | ✗ |
| Better Trading Platform | ✓ | ✗ |
| Superior Accounts And Features | ✓ | ✗ |
| Best Trading Experience And Ease | ✓ | ✗ |
| Stronger Trust And Regulation | ✓ | ✓ |
| Top Product Range And CFD Markets | ✗ | ✓ |
| Superior Educational Resources | ✓ | ✗ |
| Superior Customer Service | ✓ | ✗ |
| Better Funding Options | ✓ | ✗ |
| Lower Minimum Deposit | ✓ | ✓ |
Plus500 is better for beginner traders due to its user-friendly platform and broad range of trading instruments.
For experienced traders, FP Markets is the clear choice due to its advanced trading platforms and lightning-fast execution speeds.
FP Markets has lower costs, especially when it comes to spreads. For example, the EUR/USD spread starts from 0.0 pips. For more information on low-cost brokers, you can visit our lowest spread brokers in Malaysia.
FP Markets is the superior choice for MetaTrader 4 users. It offers advanced charting tools and automated trading features. For more details, check out our best MT4 brokers in the UK.
Neither FP Markets nor Plus500 offers social or copy trading. However, there are other brokers that do, which you can find on our best copy trading platforms in the UK.
No, neither FP Markets nor Plus500 offers spread betting. If you’re interested in spread betting, you can check out our best spread betting brokers in the UK.
In my opinion, FP Markets is superior for Australian forex traders. It’s ASIC-regulated and was founded in Australia. For more details, you can visit our best forex brokers in Australia.
For UK forex traders, Plus500 is the better choice. It’s FCA-regulated and offers a broad range of trading instruments. For more information, you can check out our best trading platforms in the UK.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
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