Plus500 vs FXCM: Which Broker is Better?

2. FXCM: Better Trading Platforms

FXCM provides MetaTrader 4, TradingView, and Trading Station, while Plus500 solely offers its user-friendly proprietary platform, lacking the advanced features of MetaTrader.

MetaTrader 4 and 5

FXCM offers both MetaTrader 4 and MetaTrader 5 platforms, which are popular for their advanced features and extensive customisability. Plus500’s proprietary trading platform is intuitive and efficient, making it easy and convenient for traders to execute trades.

cTrader and TradingView

Neither Plus500 nor FXCM provide cTrader, but both brokers offer unique platforms with various tools and features. Only FXCM has TradingView.

Social And Copy Trading

Plus500 does not offer social or copy trading features, while FXCM provides social trading via ZuluTrade, allowing traders to mirror the trades of seasoned traders.

VPS and Other Trading Tools

FXCM offers a range of trading tools, including VPS services for automated trading, trading signals, and technical analysis tools. Plus500 doesn’t offer VPS services but provides various risk management tools.

Verdict

When it comes to trading platforms, FXCM‘s MetaTrader and social trading features give it the edge over Plus500.

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3. FXCM: Superior Accounts And Features

FXCM offers a straightforward account structure: The Standard Account is the preferred choice for most clients, while Active Traders is designed for high-volume traders who want to reduce costs. Plus500 offers only a standard account and does not have a professional account.

Plus500:

• Opening an account is a simple process and usually takes around 15 minutes. Accounts are approved within a day.
• Requires proof of identity and residency for account verification.
• Offers a variety of base currencies, including USD, GBP, EUR, CHF, AUD, JPY, PLN, CZK, CAD, HUF, TRY, SEK, NOK, and SGD.
• Minimum deposit amount is $100.
• Regulated by top-tier authorities, ensuring reliability.

FXCM:

• Offers multiple account types, including Standard, Active Trader, Spread Betting (UK only), Professional, and Islamic accounts.
• Standard accounts have floating spreads starting at 1.3 pips, leverage up to 1:30, and a minimum deposit ranging from $50 to $300, depending on the regulatory region.
• With an Active Trader account, you’ll get dedicated support, up to 2 free withdrawals monthly, and rebate pricing for traders with high volumes.
• Spread Betting account, available under FCA, offers spreads starting from 1.3 pips with a $300 minimum deposit.
• Professional account offers leverage up to 1:200, with a minimum spread of 3 pips and eligibility conditions.
• Islamic account adheres to Sharia law, with floating spreads starting from 1.3 pips and no rollover fees.

Verdict

FXCM offers a variety of account types and features tailored to different traders, including region-specific options like Spread Betting for UK traders.

FXCM ReviewVisit FXCM

4. Tie: Best Trading Experience

Both FXCM and Plus500 are market makers that operate on a no dealing desk model. Plus500 prioritises simplicity and ease of use as its main features. Thanks to its intuitive interface, getting started with its proprietary platform is a breeze, especially for beginners. FXCM offers both MetaTrader 4 and 5, both of which come with advanced features; however, these features can be overwhelming for novices.

• With Plus500’s web-based platform, there’s no need to download any software.
• FXCM provides VPS services for automated trading, which is not offered by Plus500.

Now, let’s talk about our own testing. We found that the Plus500 platform is highly responsive, with virtually no lag. FXCM requires a bit of a learning curve, especially if you’re new to MetaTrader platforms.

Verdict

For a seamless and user-friendly trading experience, Plus500 takes the cake. However, if you’re an experienced trader looking for advanced tools, FXCM might be more up your alley.

Plus500 ReviewVisit Plus500

5. Tie: Stronger Trust And Regulation

Both Plus500 and FXCM have a trust score of 78 – a rare occasion in our broker reviews. Regulation, reputation, and reviews are areas where the scores differ despite the overall score being the same.

Plus500 Trust Score

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FXCM Trust Score

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Regulation

Plus500 and FXCM are each regulated by several top-tier authorities, ensuring they adhere to rigorous standards of operation, transparency, and customer protection.

Plus500 is regulated by several well-respected regulatory bodies, including the Australian Securities and Investments Commission (ASIC), the UK’s Financial Conduct Authority (FCA), and the Cyprus Securities and Exchange Commission (CySEC), among others.

Similarly, FXCM is regulated by a number of top-tier authorities, including ASIC, FCA, and CySEC. This means that FXCM is also held to high standards of conduct and must comply with regulatory requirements to protect traders.

Reputation

Plus500 has been around for more than a decade, having been founded in 2008 in Haifa, Israel. FXCM has over two decades of experience, with its origins dating back to 1999 in New York, USA.

FXCM has a monthly search volume of 38,100, while Plus500 has a whopping 246,000 hits on Google per month.

Reviews

Plus500 has a TrustPilot score of 4.0/5.0 from 12,099 reviews, while FXCM has a 4.5/5.0 score from 455 reviews.

Verdict

It’s a tie in this category!

FXCM ReviewVisit FXCM

6. Plus500: CFD Product Range And Financial Markets

Plus500 offers a wide range of 2,800+  trading instruments, including Forex CFDs, Share CFDs, and Cryptocurrency CFDs, while FXCM with 440+ products primarily focuses on Forex trading with limited options for Shares and Cryptos CFDs.

Our testing found that Plus500 offers a wider range of CFDs, particularly in the Shares and Cryptos categories. In some areas, provides a more focused approach, particularly in Forex trading.

Verdict

When it comes to CFDs and markets, Plus500 is the best choice for traders looking for diversity. However, if you primarily focus on Forex, FXCM offers a specialised experience.

Plus500 ReviewVisit Plus500

7. FXCM: Superior Educational Resources

Plus500 provides basic educational materials such as articles and FAQs but lacks advanced courses and webinars for its users. FXCM, on the other hand, offers a comprehensive educational suite for traders of all levels.

• Plus500 provides informative articles that explain fundamental trading concepts.
• FXCM provides a free forex trading guide for beginners.
• FXCM offers webinars as a feature, whereas Plus500 does not provide this service.
• FXCM offers various technical analysis tools that can be used as educational resources.
• Plus500’s educational content is more limited and lacks depth.
• FXCM offers a range of educational resources, including articles, webinars, and tutorials.

Our own testing found that FXCM offers comprehensive educational resources, providing a well-rounded learning experience for traders of all levels.

Verdict

Traders seeking to expand their knowledge can rely on FXCM‘s superior educational resources.

FXCM ReviewVisit FXCM

8. FXCM: Better Customer Service

Plus500 provides 24/7 extensive customer support via live chat, email, and messenger while FXCM has 24/5 customer support via live chat, email, and phone.

Verdict

While they only have 24/5 customer support, FXCM takes the lead in this category by providing customers a better overall website experience.

FXCM ReviewVisit FXCM

9. FXCM: More Funding Options

Plus500 allows deposits through credit/debit cards, PayPal, and bank transfers. FXCM offers the option of using Skrill and Neteller, which can be a game-changer for some traders.

After conducting our own tests, we found that both brokers process deposits quickly but FXCM outperforms in terms of withdrawal speed. FXCM generally processes withdrawals within 24 hours, while Plus500’s withdrawal process may take up to 3 days.

Verdict

FXCM offers better funding options, particularly for traders who prefer using e-wallets like Skrill and Neteller.

FXCM ReviewVisit FXCM

10. FXCM: Lower Minimum Deposit

FXCM has a lower minimum deposit of $50 against the $100 amount by Plus500. The required $50 may be considered flexible by some traders, particularly those who are new to trading.

For both brokers, the minimum deposit applies globally. Here are FXCM’s minimum deposit details:

Next, Plus500’s deposit requirements are similar, except for the higher amount:

Verdict

FXCM wins this round with their $50 minimum deposit requirement. Our testing found that both brokers offer a seamless deposit process. However, FXCM’s lower minimum deposit makes it easier for new traders to start without committing a large sum.

Plus500 ReviewVisit Plus500

So Is FXCM or Plus500 The Best Broker?

FXCM is the winner due to its exceptional performance in many important areas that are critical for new and experienced traders. The table below summarises the key information leading to this verdict.

FXCM: Best For Beginner Traders

FXCM is better suited for beginner traders due to its superior educational resources and customer service.

FXCM: Best For Experienced Traders

FXCM is also the better choice for experienced traders, offering a more solid trading platform and better funding options.