After conducting a thorough analysis of Plus500 vs FXCM, we have concluded that FXCM outperforms Plus500. Discover how these two brokers compare in our analysis.
Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
Our full comparison covers the 10 most important trading factors when considering Plus500 and FXCM. Here are five key differences:
When it comes to trading costs, both Plus500 and FXCM have their advantages. Try the FXCM vs Plus500 fee calculator below based on the most popular forex pairs and base currencies.
Plus500 Spreads
| Plus500 | EUR/USD | USD/JPY | GBP/USD | AUD/USD | USD/CAD | EUR/GBP | EUR/JPY | AUD/JPY | All-in Cost EUR/USD - Active |
EUR/USD Standard Account |
|---|---|---|---|---|---|---|---|---|---|---|
| MyFxBook | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| BrokerChooser | 0.80 | 1.00 | 1.30 | 0.80 | 2.00 | N/A | N/A | N/A | N/A | N/A |
| ForexBrokers.com | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| CompareForexBrokers | 1.70 | 1.90 | 2.30 | 1.40 | 2.00 | 1.70 | 2.40 | 3.00 | N/A | N/A |
| Plus500 | 0.02 | 0.11 | 0.09 | 0.25 | 0.15 | 0.11 | 0.28 | 0.36 | N/A | N/A |
| Consensus | 0.84 | 1.00 | 1.23 | 0.82 | 1.38 | 0.91 | 1.34 | 1.68 | N/A | N/A |
FXCM Spreads
| FXCM | EUR/USD | USD/JPY | GBP/USD | AUD/USD | USD/CAD | EUR/GBP | EUR/JPY | AUD/JPY | All-in Cost EUR/USD - Active |
EUR/USD Standard Account |
|---|---|---|---|---|---|---|---|---|---|---|
| MyFxBook | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| BrokerChooser | 0.70 | 1.00 | 1.00 | 0.90 | 1.40 | N/A | N/A | N/A | N/A | N/A |
| ForexBrokers.com | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.38 | 1.38 |
| CompareForexBrokers | 0.56 | 0.30 | 0.60 | 0.90 | 0.40 | 0.60 | 0.70 | 0.80 | N/A | N/A |
| FXCM | 0.05 | 0.12 | 0.07 | 0.22 | N/A | 0.14 | 0.07 | 0.33 | N/A | N/A |
| Consensus | 0.44 | 0.47 | 0.56 | 0.67 | 0.90 | 0.37 | 0.39 | 0.57 | 1.38 | 1.38 |
The graph below shows just the consensus data, with Plus500 having lower spreads for all major currency pairs.
Standard and RAW Account Spreads
Plus500’s standard account offers competitive spreads, making it a cost-effective option. On the other hand, FXCM provides attractive spreads, particularly for frequently traded currency pairs.
If you have a RAW account with FXCM, you can enjoy tighter spreads and save more money in the long run. Plus500 does not offer a RAW account option.
Commission Rates
Plus500 operates using a commission-free business model and generates revenue by charging a spread. Although there are no commissions on some FXCM account types and instruments, others may still be subject to commission fees.
Verdict
When it comes to trading costs, both FXCM’s RAW account spreads and Plus500’s commission-free model have their merits. However, Plus500 may be the more cost-effective option for traders who don’t want to worry about commissions.
Both Plus500 and FXCM offer various trading platforms suitable for different levels of experience and trading styles.
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 or TradingView platforms, but both brokers offer unique platforms with various tools and features.
| Criteria | Plus500 | FXCM |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | No | No |
| cTrader | No | No |
| TradingView | No | Yes |
| Other Platforms | No | Trading Station |
| VPS Services | Yes | Yes |
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.
Plus500:
FXCM:
Verdict
FXCM offers a variety of account types and features tailored to different traders, including region-specific options like Spread Betting for UK traders.
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.
Now, let’s talk about our own testing. We found that the Plus500 platform is highly responsive, with virtually no lag. On the other hand, 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.
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
FXCM Trust Score
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 | FXCM | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) FCA (UK) CYSEC (Cyprus) FMA (New Zealand) MAS (Singapore) |
ASIC (Australia) FCA (UK) CYSEC (Cyprus) CIRO (CANADA) BaFin (Germany) |
| Tier 2 Regulation | DFSA (Dubai) EFSRA |
FSCA (South Africa) ISA (Israel) |
| Tier 3 Regulation | FSA-S (Seychelles) FSCA (South Africa) |
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!
Both Plus500 and FXCM provide a vast range of products and CFD markets. Plus500 offers a wide range of trading instruments, including Forex CFDs, Share CFDs, and Cryptocurrency CFDs, while FXCM primarily focuses on Forex trading with limited options for Shares and Cryptos CFDs.
| Product Type | Plus500 | FXCM |
|---|---|---|
| Forex CFDs | 65 | 42 |
| Shares CFDs | 11,000+ | 219 |
| Cryptos CFDs | 18 | 7 |
| Commodities CFDs | 5 Metals, 7 Energies, 10 Softs | 3 Metals, 5 Energies, 3 Softs |
| Indices CFDs | 65 | 16 |
| Bonds/Treasuries CFDs | No | 1 |
| Spread Betting (UK only) | No | Yes |
| Other Products | No | No |
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.
There is a significant difference in the extent and variety of educational resources provided by Plus500 and FXCM. 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.
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.
Both Plus500 and FXCM provide extensive customer support via live chat, email, and phone.
Verdict
With its 24/5 customer support, FXCM takes the lead in this category.
Funding options are crucial for trading, and Plus500 and FXCM offer various funding methods. 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.
| Funding Option | Plus500 | FXCM |
|---|---|---|
| Credit/Debit Card | ✅ | ✅ |
| PayPal | ✅ | ❌ |
| Bank Transfer | ✅ | ✅ |
| Skrill | ❌ | ✅ |
| Neteller | ❌ | ✅ |
| UnionPay | ❌ | ❌ |
| WebMoney | ❌ | ❌ |
| Bitcoin | ❌ | ❌ |
| ACH/EFT | ❌ | ❌ |
Verdict
FXCM offers better funding options, particularly for traders who prefer using e-wallets like Skrill and Neteller.
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:
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £50 Minimum Deposit | $50 Minimum Deposit | €50 Minimum Deposit | $50 |
| Bank Wire | £50 Minimum Deposit | $50 Minimum Deposit | €50 Minimum Deposit | $50 |
| Skrill | £50 Minimum Deposit | $50 Minimum Deposit | €50 Minimum Deposit | $50 |
| Neteller | £50 Minimum Deposit | $50 Minimum Deposit | €50 Minimum Deposit | $50 |
Next, Plus500’s deposit requirements are similar, except for the higher amount:
| 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
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.
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.
| Criteria | FXCM | 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 | ✅ | ❌ |
FXCM is better suited for beginner traders due to its superior educational resources and customer service.
FXCM is also the better choice for experienced traders, offering a more solid trading platform and better funding options.
Plus500 has lower costs when it comes to spreads and fees. Traders can benefit from the broker’s commission-free model, which makes it a more cost-effective option. For more detailed information on low-cost brokers, you can visit this guide on brokers with low commissions.
FXCM is the better choice for MetaTrader 4 users. They offer both MetaTrader 4 and MetaTrader 5, providing traders with a greater range of options. For a list of the best MetaTrader 4 brokers, check out this MetaTrader 4 broker comparison.
FXCM offers social trading through the ZuluTrade platform. This feature enables traders to easily adopt successful traders’ insights and strategies by copying their trades. For more on social trading platforms, you can read this guide on the best forex social trading platforms.
FXCM offers spread betting, but Plus500 does not. This is particularly useful for UK traders looking to benefit from tax advantages. For more information, you can check out this guide on the best spread betting brokers in the UK.
In my opinion, Plus500 is the superior choice for Australian Forex traders. Both brokers are ASIC-regulated, but Plus500 has a more diverse range of CFDs and markets. Plus500 is also founded overseas, while FXCM is not based in Australia. For a comprehensive list of top brokers in Australia, you can visit this Australian Forex brokers guide.
From my perspective, FXCM is the better option for UK Forex traders. Both brokers are FCA-regulated, but FXCM offers a more solid trading platform and better funding options. Neither broker is founded in the UK; they are both based overseas. For more details, you can check out this guide on the best trading platforms in the UK.
Ask an Expert