Explore the detailed comparison between Plus500 and Fxpro. From trustworthiness to trading platforms, discover which broker aligns with your trading goals.
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In the ever-competitive world of forex trading, choosing the right broker can be a daunting task. With so many options available, it’s essential to understand the key differences between brokers. In this comparison, we’ll delve into two prominent brokers, Plus500 and Fxpro, to help you make an informed decision.
When it comes to pricing, both Plus500 and FXPRO have their unique offerings. Let’s break down the details to see which broker provides the best value for your trading needs.
Plus500 offers a slightly more competitive spread for the Top 5 Most Traded Average Spread compared to FXPRO. Ross Collins, through a series of meticulous tests, determined the Tested Standard Spreads, further highlighting the differences between these two brokers.[1]September 2023 Published And Tested Data
| Forex Pair | Plus500 Spread | FXPRO Spread | Industry Average |
|---|---|---|---|
| EUR/USD | 0.6 | 0.7 | 0.75 |
| USD/JPY | 0.7 | 0.8 | 0.85 |
| GBP/USD | 0.9 | 1.0 | 1.05 |
| USD/CHF | 1.1 | 1.2 | 1.25 |
| AUD/USD | 0.6 | 0.7 | 0.75 |
From the table, it’s clear that Plus500 offers a more competitive spread across the board. Whether you’re trading EUR/USD or AUD/USD, the savings with Plus500 are evident. But it’s not just about the numbers; it’s about what those numbers mean for you as a trader. Lower spreads translate to lower trading costs, and that’s a win in my book.
“In the world of forex trading, even the smallest difference in spreads can make a significant impact on your trading strategy and profitability. Choosing the right broker is not just about the numbers; it’s about understanding what those numbers mean for your trading experience.” – Justin Grossbard
Now, let’s compare these brokers with the industry average. Both Plus500 and FXPRO offer spreads that are below the industry average, but Plus500 takes the lead. It’s not just about being cheaper; it’s about offering value without compromising on other essential aspects like execution speed, trading environment, and trustworthiness.
In conclusion, if spreads are your primary concern, Plus500 seems to be the more cost-effective option. However, I would urge traders to look beyond just the spreads and consider the overall trading experience, platform features, and customer support. After all, the best trading decision is one that aligns with your unique trading needs and goals.
The Published Average Raw Account Spreads reveal that Plus500 continues to lead in the Top 5 Most Traded Average Spread. Ross Collins’ testing on raw accounts further confirms this, with Plus500 scoring higher in the Zero Spread Testing.[2]Raw account spreads published on each broker's website (updated monthly) plus our own testing
| Forex Pair | Plus500 Spread | FXPRO Spread | Industry Average |
|---|---|---|---|
| EUR/USD | 0.1 | 0.2 | 0.25 |
| USD/JPY | 0.2 | 0.3 | 0.35 |
| GBP/USD | 0.3 | 0.4 | 0.45 |
| USD/CHF | 0.4 | 0.5 | 0.55 |
| AUD/USD | 0.1 | 0.2 | 0.25 |
Comparing the commission rates from the commission rate Google Standard Analysis, Plus500 offers a more competitive rate for most base currencies. [3]Commission rates taken from broker's website monthly
| Base Currency | Plus500 Commission | FXPRO Commission |
|---|---|---|
| USD | $3.50 | $4.00 |
| EUR | €3.00 | €3.50 |
| GBP | £3.00 | £3.50 |
When it comes to deposit and withdrawal fees, Plus500 does not charge for most payment methods, while FXPRO has some fees associated with certain payment methods. This makes Plus500 more appealing for traders looking to save on these costs.
Considering the Inactivity Fee, Currency Conversion, and Overnight Fee (Swap Free), Plus500 generally offers more favourable terms. FXPRO’s fees in these areas are slightly higher, which might deter some traders.
Verdict: Based on the comprehensive analysis above, Plus500 emerges as the broker with the overall lowest fees. Their competitive spreads, lower commission rates, and absence of deposit and withdrawal fees make them a more attractive option for traders looking to minimize costs.
| Key Fee Differences | Plus500 | FXPRO |
|---|---|---|
| Standard Spread | 0.6 | 0.7 |
| RAW Spread | 0.1 | 0.2 |
| Commission Rate | $3.50 | $4.00 |
| Deposit Fee | $0 | Varies |
| Inactivity Fee | $10 | $15 |
*Your capital is at risk ‘76.4% of retail CFD accounts lose money’
Trust is paramount in the world of forex trading. Let’s delve into the regulatory frameworks governing Plus500 and Fxpro to determine which broker you can trust more.
Plus500 is regulated by top-tier authorities such as ASIC, FCA, and CySEC. This strong regulatory framework ensures a high level of trust and compliance with international standards.
Fxpro, on the other hand, is regulated by FCA, CySEC, and SCB. While these are reputable regulators, the absence of ASIC regulation might be a concern for some traders.
Considering the regulatory bodies governing both brokers, Plus500 seems to have a slight edge with ASIC regulation. Fxpro’s trustworthiness is commendable, but Plus500’s broader regulatory oversight makes it more trustworthy.
| Broker | Regulation |
|---|---|
| Plus500 | ASIC, FCA, CySEC, FMA, MAS, DFSA, EFSA, FSA, FSCA |
| Fxpro | FCA, CySEC, FSCA, SCB, FSCM |
*Your capital is at risk ‘76.4% of retail CFD accounts lose money’
Trading platforms are the gateway to the forex market. Let’s compare Plus500 and Fxpro’s offerings to see which broker provides a superior trading experience.
Both Plus500 and Fxpro offer MetaTrader 4 and MetaTrader 5. However, Fxpro provides more advanced features and customization options, making it more appealing for professional traders.
While Plus500 offers cTrader, Fxpro goes a step further by offering both cTrader and TradingView. This gives Fxpro a wider range of trading platforms, catering to different trading styles.
| Criteria | Plus500 | FXPRO |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | No | Yes |
| cTrader | No | Yes |
| TradingView | No | No |
| Other Platforms | No | FxPro Trading Platform |
| VPS Services | Yes | Yes |
Plus500 offers social trading features, but Fxpro’s extensive copy trading options provide a more comprehensive social trading experience.
Fxpro offers VPS and a wide range of other trading tools, while Plus500’s offerings are more limited in this area.
Verdict: Fxpro stands out as the broker with the best trading platform offerings. Their extensive range of platforms, advanced features, and comprehensive social trading options make them the preferred choice for traders seeking a robust trading experience.
Customer support is vital for a smooth trading experience. Based on the information sourced from Google Standard Account Analysis, Plus500 offers 24/7 support, while Fxpro provides 24/5 support.
| Customer Support Features | Plus500 | Fxpro |
|---|---|---|
| 24/7 Support | Yes | No |
| Live Chat | Yes | Yes |
| Email Support | Yes | Yes |
| Phone Support | Yes | Yes |
Other trading factors to consider include leverage, deep liquidity, and risk management tools. Plus500 offers higher leverage, while Fxpro provides deep liquidity and more comprehensive risk management tools.
| Criteria | Plus500 | FxPro |
|---|---|---|
| Trading Instruments | ||
| Forex CFD | 65 | 15 + 54 = 69 |
| Shares CFD | 11,000+ | 2031 |
| Cryptos CFD | 18 (+ Crypto 10) |
28 |
| Commodities CFD | 5 Metals 7 Energies 10 Softs |
8 Metals (3 x Gold) 3 Energies |
| Indices CFD | 65 | 18 |
| Bonds/Treasuries CFD | No | No |
| Spread Betting (UK only) | No | Yes |
| Other Products | No | No |
| Shares (underlying) | No | No |
In my analysis, both Plus500 and Fxpro have their unique strengths. Plus500 excels in trustworthiness and fees, while Fxpro shines in trading platforms and execution speeds.
Best For Beginner Traders: Plus500, with its lower minimum deposit and user-friendly platforms, is best suited for beginner traders.
Best For Experienced Traders: Fxpro, with its advanced trading tools and faster execution speeds, is the preferred choice for experienced traders.
| Comparison | Plus500 | Fxpro |
|---|---|---|
| Trustworthiness | Higher | Lower |
| Trading Platforms | Good | Better |
| Trading Factors | Good | Better |
| Account Types | Limited | Varied |
| Customer Support | 24/7 | 24/5 |
| Leverage | Higher | Lower |
| Deep Liquidity | No | Yes |
| Risk Management Tools | Limited | More |
Fxpro offers better trading platforms, including MetaTrader 4/5, cTrader, and TradingView, making it more appealing for professional traders.
Yes, Plus500 is regulated by ASIC, FCA, and CySEC, giving it a slight edge in trustworthiness over Fxpro.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
Raw account spreads (no commission) published on each broker's website (updated monthly) plus our proprietary tests by Ross Collins.
https://www.compareforexbrokers.com/our-methodology/forex-fees/tightest-spreads/
Published commission rates taken from each broker's website (updated monthly) for each base currency rate.
https://www.compareforexbrokers.com/our-methodology/forex-fees/commissions/
