Plus500 vs FXCM Comparison

Which Broker Has Lowest Trading Costs?

When it comes to trading costs, both Plus500 and FXCM have their advantages.

1. Standard Account Spreads

Plus500 offers competitive spreads on its standard account, making it a cost-effective choice for many traders. On the other hand, FXCM also provides tight spreads, particularly for popular currency pairs.

2. RAW Account Spreads

For RAW account holders, FXCM offers even tighter spreads, which can lead to significant savings in the long run. Plus500 does not offer a RAW account option.

3. Commission Rates

Plus500 operates on a commission-free model, instead generating revenue from spreads. FXCM, however, charges commissions on certain account types and instruments.

4. Deposit & Withdrawal Fees

Neither Plus500 nor FXCM charge any deposit or withdrawal fees, which is a major plus for both brokers.

5. Other Fees

Both brokers have some additional fees, such as inactivity fees. It’s important to review these before choosing a broker.

Verdict: When it comes to trading costs, FXCM’s RAW account spreads and Plus500’s commission-free model both have their merits. However, Plus500 may be the more cost-effective option for traders who don’t want to worry about commissions.

Plus500 ReviewVisit Plus500

Who Has Better Trust And Regulation?

Trust and regulation are crucial factors when choosing a forex broker. Both Plus500 and FXCM are regulated by multiple top-tier authorities, which ensures they adhere to strict 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. These regulators are known for their stringent standards and rigorous oversight, providing traders with an added layer of security.

Similarly, FXCM is also 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 a range of regulatory requirements designed to protect traders.

FXCM ReviewVisit FXCM

What Trading Platforms Are Offered?

Both Plus500 and FXCM offer a range of trading platforms to suit different trading styles and experience levels.

1. MetaTrader 4and 5

FXCM offers both MetaTrader 4 and MetaTrader 5 platforms, which are popular for their advanced features and extensive customizability. Plus500, on the other hand, offers its proprietary Plus500 trading platform, which is known for its user-friendly interface and ease of use.

2. cTrader and TradingView

Neither Plus500 nor FXCM offer the cTrader or TradingView platforms. However, both brokers offer their own unique platforms that provide a range of tools and features.

3. Social And Copy Trading

Plus500 does not offer social or copy trading features. FXCM, on the other hand, offers social trading through the ZuluTrade platform, allowing traders to copy the trades of experienced traders.

4. VPS and Other Trading Tools

FXCM offers VPS services for automated trading, as well as a range of other trading tools such as trading signals and technical analysis tools. Plus500 does not offer VPS services but does provide a range of risk management tools.

Verdict: When it comes to trading platforms, FXCM’s offering of MetaTrader and social trading features gives it the edge over Plus500.

FXCM ReviewVisit FXCM

What Account Types Are Available?

Plus500 offers two main types of accounts: a standard live trading account and a demo account. FXCM, on the other hand, offers a wider range of account types, including Standard, Active Trader, and Professional accounts, as well as a demo account.

Verdict: FXCM offers a wider range of account types, catering to a broader range of trader needs and experiences.

FXCM ReviewVisit FXCM

Which Broker Has Superior Customer Service Levels

Both Plus500 and FXCM offer comprehensive customer service, including live chat, email support, and phone support. However, FXCM offers 24/7 support, while Plus500’s support is available 24/7.

Verdict: With its 24/7 customer support, FXCM takes the lead in this category.

FXCM ReviewVisit FXCM

Other Trading Factors

Minimum Deposit Levels

Plus500 has a minimum deposit requirement of $100, while FXCM has a higher minimum deposit requirement of $300.

Payment Methods

Both brokers offer a range of payment methods, including credit/debit card, bank transfer, and e-wallets like PayPal and Skrill.

Other Factors

Both brokers offer a range of educational resources, including webinars, articles, and tutorials. However, FXCM offers a more comprehensive education section, including a free forex trading guide for beginners.

Verdict: While both brokers offer a range of features and resources, FXCM’s higher minimum deposit may be a barrier for some traders. Plus500, with its lower minimum deposit and user-friendly platform, may be more accessible for beginner traders.

Plus500 ReviewVisit Plus500

Our Take On Which Broker Is Best

Best For Beginner Traders: Plus500, with its user-friendly platform, lower minimum deposit, and comprehensive range of trading instruments, is our top pick for beginner traders.

Best For Experienced Traders: FXCM, with its advanced trading tools, comprehensive educational resources, and range of accounttypes, is our top pick for experienced traders.

FXCM ReviewVisit FXCM