Dive into our comprehensive comparison of Plus500 and IG, two of the leading forex brokers in the market. We’ll explore their main differences, trading costs, platforms, account types, and more to help you decide which broker is the best fit for your trading needs.
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Plus500 and IG are both renowned forex brokers, each with their unique strengths and offerings. Plus500 is known for its user-friendly platform and a wide range of trading instruments. On the other hand, IG stands out with its comprehensive educational resources and advanced trading platforms.
When it comes to trading costs, both Plus500 and IG have their advantages. We’ve conducted extensive forex commission level testing to provide you with accurate information.
Plus500 offers competitive spreads across various markets, making it an attractive choice for traders looking to minimize trading costs. IG, on the other hand, provides tight spreads on major forex pairs, which can be beneficial for forex traders. Our standard account spread testing provides more details.
Plus500 operates on a mainly commission-free model, charging only the spread on trades. IG, however, charges a commission on shares CFDs, which could be a consideration for traders focusing on this market.
Both Plus500 and IG offer free deposits and withdrawals, which is a significant advantage for traders as it allows them to manage their funds without incurring additional costs.
Plus500 charges an inactivity fee if you don’t log into your account for three months, while IG charges an inactivity fee after two years of inactivity. Therefore, Plus500 might be more suitable for active traders, while IG could be a better choice for long-term investors.
Verdict: When it comes to trading costs, Plus500 seems to have a slight edge due to its commission-free model and competitive spreads. However, IG’s tight spreads on major forex pairs and longer inactivity period could be advantageous for certain traders.
| Criteria | Plus500 | IG |
|---|---|---|
| Spreads | Competitive | Tight on major forex pairs |
| Commissions | Mainly commission-free | Commission on shares CFDs |
| Deposit & Withdrawal Fees | Free | Free |
| Other Fees | Inactivity fee after three months | Inactivity fee after two years |
Both Plus500 and IG offer a range of trading platforms to cater to different trader needs. You can find more details in our comparison of the best cTrader forex brokers and the best MetaTrader 4 forex brokers.
While Plus500 does not support MetaTrader 4 or 5, IG offers both of these popular platforms. This gives IG an advantage, especially among traders who prefer these well-established platforms.
Neither Plus500 nor IG supports cTrader or TradingView. Both brokers offer their proprietary platforms, which come with a range of tools and features.
While neither broker offers social or copy trading directly, IG allows for this functionality through third-party platforms like ZuluTrade and Myfxbook.
IG offers VPS services for automated traders, while Plus500 does not. However, Plus500 provides a range of risk management tools, including stop loss, limit orders, and price alerts.
Verdict: IG takes the lead in this category with its support for MetaTrader 4 and 5, third-party social and copy trading, and VPS services. However, Plus500’s proprietary platform and risk management tools are also noteworthy.
| Criteria | Plus500 | IG |
|---|---|---|
| MetaTrader 4 and 5 | No | Yes |
| cTrader and TradingView | No | No |
| Social And Copy Trading | No | Through third-party platforms |
| VPS and Other Trading Tools | No VPS, but offers risk management tools | Offers VPS services |
Trust and regulation are paramount when choosing a forex broker. Both Plus500 and IG are regulated by top-tier authorities, ensuring a high level of investor protection.
Plus500 is regulated by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). IG, on the other hand, is regulated by the FCA, ASIC, MAS, the Swiss Financial Market Supervisory Authority (FINMA), the Dubai Financial Services Authority (DFSA), the Federal Financial Supervisory Authority (BaFin), and the Commodity Futures Trading Commission (CFTC).
Verdict: IG wins this category due to its broader regulatory oversight, which includes more top-tier regulators than Plus500.
| Broker | Regulators |
|---|---|
| Plus500 | FCA, CySEC, ASIC, MAS |
| IG | FCA, ASIC, MAS, FINMA, DFSA, BaFin, CFTC |
Plus500 offers two main types of accounts: a standard live account and a demo account. The live account requires a minimum deposit of $100, and the demo account is free and comes with virtual funds for practice. IG, on the other hand, offers a wider range of account types, including spread betting, CFD, share dealing, and professional accounts, in addition to a demo account. The minimum deposit for a live account at IG is $300. You can find more information in our articles on the best forex broker demo accounts and the best spread betting brokers.
Verdict: IG offers a wider variety of account types, which can cater to a broader range of trader needs and preferences. However, Plus500’s lower minimum deposit requirement could be more appealing to beginner traders or those with a smaller trading budget.
| Criteria | Plus500 | IG |
|---|---|---|
| Account Types | Standard, Demo | Spread Betting, CFD, Share Dealing, Professional, Demo |
| Minimum Deposit | $100 | $300 |
When it comes to the trading environment, both Plus500 and IG have their strengths. Plus500 offers a user-friendly platform with a wide range of trading instruments, making it suitable for both beginner and experienced traders. IG, on the other hand, provides a more advanced trading environment with its comprehensive educational resources, advanced trading platforms, and a wider range of trading instruments.
Based on our exclusive execution speed testing, IG has a slight edge over Plus500. This could be a significant advantage for traders who rely on quick execution for their trading strategies.
Verdict: IG offers a more advanced trading environment with its comprehensive educational resources, advanced trading platforms, and faster execution speeds. However, Plus500’s user-friendly platform and wide range of trading instruments also make it a strong contender.
| Criteria | Plus500 | IG |
|---|---|---|
| Trading Environment | User-friendly platform, wide range of trading instruments | Comprehensive educational resources, advanced trading platforms, faster execution speeds |
Both Plus500 and IG offer robust customer service. Plus500 provides 24/7 customer support via live chat and email. IG also offers 24/7 customer support, but in addition to live chat and email, they also provide phone support.
Verdict: While both brokers offer excellent customer service, IG’s addition of phone support gives it a slight edge in this category.
| Criteria | Plus500 | IG |
|---|---|---|
| Customer Service | 24/7 live chat and email | 24/7 live chat, email, and phone support |
As mentioned earlier, Plus500 requires a minimum deposit of $100 for its live account, while IG requires a minimum deposit of $300. This could be a significant factor for traders with a smaller budget.
Both Plus500 and IG offer a variety of payment methods, including credit card, debit card, bank transfer, and PayPal. This provides traders with flexibility when it comes to funding their accounts.
Based on our exclusive research, Plus500 offers a wider range of trading instruments, including forex, indices, commodities, shares, ETFs, and cryptocurrencies. IG also offers a broad range of markets, but it stands out with its offering of spread betting (for UK and Ireland residents) and share trading, which could be a significant advantage for traders interested in these markets. You can learn more about these factors in our articles on Copy Trading and Social Trading.
Verdict: Both Plus500 and IG offer a wide range of trading instruments, catering to different trader needs. However, IG’s offering of spread betting and share trading gives it a slight edge in this category.
| Criteria | Plus500 | IG |
|---|---|---|
| Trading Instruments | Forex, Indices, Commodities, Shares, ETFs, Cryptocurrencies | Forex, Indices, Commodities, Shares, ETFs, Cryptocurrencies, Spread Betting, Share Trading |
Plus500 is better for beginner traders due to its user-friendly platform, lower minimum deposit requirement, and a wide range of trading instruments. Its competitive spreads and mainly commission-free model also make it a cost-effective choice for new traders.
IG is better for experienced traders due to its advanced trading platforms, comprehensive educational resources, and a wider range of account types. Its tight spreads on major forex pairs, faster execution speeds, and support for MetaTrader 4 and 5 make it a suitable choice for advanced traders.
Best For Beginner Traders: Plus500 is the best choice for beginner traders due to its user-friendly platform, lower minimum deposit requirement, and a wide range of trading instruments. Its competitive spreads and mainly commission-free model also make it a cost-effective choice for new traders.
Best For Experienced Traders: IG is the best choice for experienced traders due to its advanced trading platforms, comprehensive educational resources, and a wider range of account types. Its tight spreads on major forex pairs, faster execution speeds, and support for MetaTrader 4 and 5 make it a suitable choice for advanced traders.
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