Plus500 vs CMC Markets: Which One Is Best?

2. Better Trading Platform: Tie

Plus500 Trading Platforms

Plus500 clients are restricted to the broker’s proprietary trading platform. The Plus500 platform is available on desktop, web and mobile (iOS and Android).

The Plus500 platform is popular with casual investors due to its clean design and emphasis on simplicity. However, the platform lacks advanced features that more advanced traders may require. For instance, the platform does not offer social trading, the ability to trade directly from charts, or drawing tools. The mobile version lacks certain essential features that are available on the desktop version, such as drawing tools.

Plus500 offers the following

1. 103 technical indicators (18 indicators on the mobile version).
2. 10 fields for watchlists.
3. Custom chart templates that can be saved.

CMC Markets Trading Platforms

Clients have a choice of two trading platforms. These are CMC Markets’ own proprietary ‘Next Generation’ trading platform and MetaTrader 4. Both of these platforms are available to clients on a tablet or mobile (Android, Windows, Mac, iOS), as well as a Webtrader platform. Those using the ‘Next Generation’ app on mobiles will have access to the same features as those on Webtrader, however, those using a browser will have a more comprehensive selection of tools and features.

Generation Next Trading Platform has the following features:

1. 81 Trading Indicators: great for in-depth technical analysis (note: the mobile version on has 23 indicators).
2. Expandable trade ticket design – users can add features such as stops and limits and level 2 pricing.
3. Chart pattern recognition – a tool to analyse trading and pricing. The tool can auto-adjust when time scales of charts are changed to show updated patterns.
4. Alerts for chart patterns.
5. Sentiment Tool for Social Trading.
6. 24 drawing tools.
7. Trading directly from charts.
8. Eight fields for the watch list.

MetaTrader 4

In late 2018, CMC Markets began to offer MetaTrader 4 (MT4) as a trading option. The MT4 platform is known as the gold standard of trading platforms and is offered by more brokers than any other platform.

Introducing MT4 was a smart move by CMC Markets, given this will encourage traders using MT4 with other brokers to switch to CMC Markets.  MT4 is a great platform in its own right but has one big advantage over many other platforms in that it does not lock you into a particular client’s ecosystem. By this, we mean you can switch brokers also offering MT4 with few issues.

If you choose to use MetaTrader 4, you will still need a Next Generation Account. CMC Markets require this to overcome funding limitations with their MT4 platform.

It is important to note that you cannot trade shares via the CMC Markets MT4 platform. CMC Markets only allow trading of Forex, Indices and Commodities, yet users can still trade shares via the Next Generation platform.

Pros Of MT4

1. The same functionality is on mobile as on Webtrader (except for Expert Advisors).
2. 30 technical indicators that can be expanded with add-ons.
3. 24 drawing tools.
4. Three different interactive charts with nine time periods are customisable.
5. Inbuilt Expert Advisors.
6. Hedging allowed.
7. Customisable platform and charting.

Cons

1. No support for futures and options.
2. Originally built for the FX market. Support for other asset classes is available but may not be as accessible as other platforms.
3. No share trading.

Verdict

Plus500 is a great platform for beginner and intermediate traders. If you require more advanced trading tools and analysis, then we suggest you use one of the CMC Markets platforms, such as MetaTrader 4.

Plus500 ReviewVisit Plus500

*Your capital is at risk ‘76.4% of retail CFD accounts lose money’

3. Superior Accounts And Features: CMC Markets

When comparing Plus500 and CMC Markets in terms of accounts and features, several distinctions emerge:

• Trading Platforms: CMC Markets provides traders with a choice between their proprietary ‘Next Generation’ platform and the widely recognised MetaTrader 4. In contrast, Plus500 restricts its clients to its proprietary platform, which, while user-friendly, may lack some advanced features desired by more experienced traders.
• Contracts For Difference (CFDs): CMC Markets is globally recognised for its extensive offerings in shares and forex. However, for traders specifically interested in CFDs, Plus500 boasts a broader CFD product range.
• Leverage and Margin: Both brokers utilise margin rates, which dictate the minimum deposit required to maintain a trading position. CMC Markets, especially in regions like New Zealand, offers a more generous margin rate compared to Plus500.
• Customer Service: CMC Markets stands out with its comprehensive customer support, available via phone, live chat, and email. Plus500, on the other hand, lacks phone support, which many traders still value for immediate assistance.
• Educational Resources: CMC Markets offers a plethora of educational materials, including webinars, articles, and a dedicated forex education program. Plus500’s educational offerings are comparatively limited, which might hinder the development of novice traders.

Verdict: Based on the comprehensive analysis of accounts and features, CMC Markets offers a superior and well-rounded trading experience for both novice and experienced traders.

4. Best Trading Experience And Ease: CMC Markets

Navigating through the trading world requires a platform that not only offers robust features but also ensures a seamless and intuitive user experience. Our journey exploring Plus500 and CMC Markets revealed distinct aspects that cater to varied trader preferences.

Plus500, with its proprietary platform, has always prided itself on simplicity and user-friendliness, making it a preferred choice for beginners or casual traders. The platform’s clean design and straightforward navigation ensure that new traders can find their way around without feeling overwhelmed.

• Plus500 offers a straightforward and user-friendly platform.
• CMC Markets provides a choice between two platforms, catering to different trader needs.
• Plus500’s platform, while simple, may lack advanced features for seasoned traders.
• CMC Markets’ ‘Next Generation’ platform offers advanced charting and analysis tools.

Diving deeper into CMC Markets, we encountered a platform that doesn’t compromise on advanced features while maintaining a balanced user interface. The ‘Next Generation’ platform, with its advanced charting tools and analytical features, provides a rich trading experience for those who love to dive deep into market analysis.

Moreover, the availability of MetaTrader 4 caters to traders who prefer a platform that’s recognised for its stability and comprehensive features. It’s a blend that ensures whether you’re a novice or a seasoned trader, your trading journey is well-accommodated.

Verdict: While Plus500 offers a simplified and accessible platform for new traders, CMC Markets stands out by providing a balanced and enriched trading experience, catering to both new and experienced traders with its dual platform offering.

5. Stronger Trust And Regulation: CMC Markets

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Both Plus500 and CMC Markets use margin rates rather than leverage. The margin rate is the minimum deposit you will require to open and maintain your trading position. From this margin, one can determine how much leverage the broker will lend you, yet this varies between asset class and the subsidiary’s local regulator.

• Plus500 operate in Australia (ASIC), NZ (FMA), Europe (CySEC), the UK (FCA), South Africa (FSCA) and Singapore (MAS), Dubai (DFSA), Estonia (EFSRA) and Seychelles (FSA-S).
• CMC Markets operates in Australia, the UK, NZ, Singapore, Canada (CIRO), Germany (BaFin) and Dubai (DFSA).

CMC Markets in NZ and regulated by the FMA have a more generous margin rate of 0.20% (500:1) than Plus500, which only offers 0.37.5% (300:1) via its offshore branch in Seychelles regulated by the FSA.

Under ASIC (Australia), FCA (UK) and CySEC (Europe) regulation, both Plus500 and CMC Markets are restricted to offering maximum leverage of 30:1 for major forex pairs and 20:1 for minor pairs.

Leverage is a useful tool in a trader’s arsenal. Currency pairs only change a few cents most of the time, making it hard to make large profits without a large initial investment. More money invested means greater returns when prices move in your favour.

It is, however, important to understand that leverage comes with a high risk that can lead to large losses when prices move in unfavourable directions. Therefore, it is important to understand the high risks associated with leveraged positions and use leverage responsibly. Trading platforms offer risk management tools that can assist in minimising losses and protecting capital.

Verdict

CMC Markets offers a better margin rate than Plus500, therefore, we recommend CMC Markets.

CMC Markets ReviewVisit CMC Markets

6. Top Product Range and CFD Markets: Tie

CMC Markets has a global reputation as a share and forex broker, with some commodities available. CMC Markets offers extensive market access to a range of share and forex instruments available. However, if you want to trade CFDs, Plus500 offers a larger CFD product range.

Disclaimer: The Financial Conduct Authority (FCA), the main regulator in the UK, banned cryptocurrency trading, coming into effect on Jan 6, 2022. Neither Plus500 nor CMC Markets advertise the sales of financial instruments such as Bitcoin, Ethereum, Ripple, etc., to UK retail traders. Please take note that traders outside of the UK can still trade cryptocurrencies. 

Verdict

If you are looking for a broker with a wide range of contracts for difference, then we recommend Plus500. If you are looking for a broker that offers a large range of shares, then we recommend CMC Markets.

CMC Markets ReviewVisit CMC Markets

7. Superior Educational Resources: CMC Markets

Embarking on the trading journey demands not only a robust platform but also a wealth of educational resources to navigate through the financial markets effectively. Our exploration into the educational offerings of Plus500 and CMC Markets has unveiled a spectrum of resources that cater to traders at various stages of their trading journey.

Plus500, while offering a simplistic and user-friendly platform, somewhat limits its educational resources, primarily providing a series of articles and a demo account for traders to get accustomed to the platform.

• Plus500 offers a range of articles covering basic trading concepts.
• A demo account is available on Plus500 for practice trading.
• Plus500’s educational resources are somewhat limited in scope and depth.
• There is no webinar or advanced educational content available on Plus500.

On the flip side, CMC Markets emerges as a hub of educational wealth, offering a plethora of resources that cater to both novice and seasoned traders. From detailed articles and insightful webinars to a dedicated forex education program, CMC Markets ensures that traders have a well-rounded educational foundation.

The availability of these resources not only aids in making informed trading decisions but also in understanding the nuances of market dynamics, which is crucial for crafting effective trading strategies.

• CMC Markets provides a comprehensive forex education program.
• A variety of webinars are available on CMC Markets for enhanced learning.
• Detailed articles and insights are provided to understand market dynamics.
• CMC Markets caters to both novice and seasoned traders with its educational offerings.

Verdict: Based on our exploration and testing, CMC Markets distinctly outshines with its extensive and diverse educational resources, providing a more comprehensive and insightful learning experience for traders at all levels.

8. Superior Customer Service: CMC Markets

Plus500

Plus500 lacks customer support features when you compare it with the main online forex brokers. While they do offer 24/7 live chat and email support and even WhatsApp, the absence of phone support is glaring. While you can certainly use live chat or email to resolve your issues, it is safe to say, that many people still do like to have phone access to customer support when needed.

Not only are the customer support features scarce, but Plus500 also does not offer much in the way of customer service and education. Most CFD and forex brokers offer educational resources to assist clients of all levels of experience. Plus500’s lack of such resources may hinder traders’ forex trading development.

Education:

Not only do Plus500 not offer much in the way of education, but Plus500 also fails to offer comprehensive technical analysis from experts. Many brokers engage analysts to provide input, education, and updates on news or trends in the market.  Plus500 offers neither in-house nor 3rd party technical analysis. They also do not offer economic calendars, which are a basic feature in the industry.

With all this said, the lack of these features does not make Plus500 a bad product. Not everyone needs these features, and much of the information provided by other forex brokers is available for free elsewhere.

Demo Account:

The Plus500 demo account has two key benefits that make it superior to other virtual accounts offered by brokers. Firstly, there is no access restriction. This means you have unlimited access to your demo account with no time restrictions. Secondly, there are no funds restrictions, meaning you have all the virtual funds you need to practice your trading.

CMC Markets Customer Support

Unlike Plus500, CMC Markets offers customer support via phone, live chat and email. This service is available Monday from 8 am to 8 am Saturday. You can also reach the CMC Markets support team via the CMC Markets Twitter and Facebook accounts.

It is interesting to note that if you use the live chat via the website, you will be dealing with the stock market support team. This can lead to some confusion, given the support team will assume you’re asking questions relating to CMC Markets stock market accounts.

If you have questions regarding CFDs, then you will need to log in with your account to chat with the live chat team. This is not always convenient if you don’t have a CFD account, meaning you will need to call the help desk if you have questions.

CMC Markets Customer Services

CMC Markets offers a great collection of customer service tools.

Research: CMC Markets offers a range of news and analysis features that help you stay on top of all the latest news and events in financial markets. These include:

• • A dedicated team of in-house analysts that offer expert insights. Australia has two analysts in its panel. Michael McCarthy and Ric Spooner. These analysts regularly appear on CNBC, Sky, ABC and BBC so you can be sure they know their chops.
  • Third-party resources – Morningstar, Reuters News and so on.
  • An economic calendar outlining significant corporate and economic events.

Education: CMC Markets offers a wealth of educational material, these include:

• • Webinars covering a range of topics, including trading, market analysis, and technical analysis.
  • Articles, guides, ebooks and whitepapers.
  • CFD trading and forex education program.
  • Glossary of key trading terms.
  • FAQ.

Demo Account: CMC Markets provide access to $10,000 of virtual funds in a demo account. The account is free for you to use as long as you have a CMC Markets Account.

Verdict

CMC Markets offers superior customer experience and provides quality educational and research resources, while Plus500 offers below-average support and education. Therefore, CMC won this round by a mile.

CMC Markets ReviewVisit CMC Markets

9. Better Funding Options: CMC Markets

Navigating through the funding options of Plus500 and CMC Markets, we’ve observed a variety of methods tailored to meet the diverse needs of traders globally. Plus500, renowned for its simplicity across its platform, extends this ethos to its funding options, providing straightforward methods that are accessible and user-friendly.

Traders can effortlessly navigate through the deposit and withdrawal processes, ensuring a smooth transition from account funding to trading.

CMC Markets, on the other hand, not only provides a variety of funding options but also ensures that the processes are secure and efficient. With a focus on providing a seamless experience, CMC Markets has crafted its funding options to cater to both novice and experienced traders, ensuring that they can manage their trading finances with ease and confidence.

Verdict: While both brokers offer a variety of common funding options, CMC Markets provides a slightly more diverse range, catering to a broader spectrum of trader preferences and thereby offering superior funding options.

10. Lower Minimum Deposit: CMC Markets

Embarking on a trading journey often begins with understanding the financial commitment required to open and maintain a trading account. The minimum deposit is a crucial factor, especially for novice traders, as it allows them to step into the trading world without necessitating a hefty initial investment.

Plus500, known for its user-friendly platform and straightforward trading approach, sets its standard account minimum deposit at $100. This allows traders to access the markets and explore the platform’s features without a significant financial outlay.

In contrast, CMC Markets demonstrates a commitment to accessibility and inclusivity by offering a $0 minimum deposit for its CFD Account and FX Active account. This approach not only lowers the barrier to entry for new traders but also provides an opportunity for more individuals to explore and engage with the financial markets. CMC Markets, with its diverse account offerings and comprehensive trading platforms, ensures that traders, regardless of their financial capacity, can explore the trading world.

In the realm of trading, where every dollar counts, the initial deposit can be a determining factor for many, especially those who are new to the trading environment. The ability to start trading without a mandatory deposit provides a risk-free entry into the world of trading and allows traders to get accustomed to the platform before committing financially.

Verdict: CMC Markets clearly takes the lead in offering a lower barrier to entry with a $0 minimum deposit, making trading accessible to a wider audience and providing a risk-free start to the trading journey.

Is Plus500 or CMC Markets The Best Broker?

CMC Markets is the winner because it consistently provides a more comprehensive and accessible trading experience across various aspects, such as educational resources, customer service, and funding options. The table below summarises the key information that has led to this verdict, providing a snapshot of how each broker performs across ten critical areas.

CMC Markets: Best For Beginner Traders

For those embarking on their trading journey, CMC Markets stands out as the better broker due to its extensive educational resources and a $0 minimum deposit.

CMC Markets: Best For Experienced Traders

For seasoned traders, CMC Markets also takes the lead by offering a more versatile trading platform and a wider array of funding options, catering to diverse trading strategies and needs.