Dive into our comprehensive comparison of Plus500 and IG Group (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 best fits your trading needs.
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Our full comparison covers the 10 most crucial trading factors to consider when choosing between Plus500 and IG. Below are five notable differences:
When it comes to trading costs, both Plus500 and IG have their advantages. We’ve conducted extensive forex Commission Fees level testing to provide you with accurate information Australian Forex brokers
Spreads
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 Spreads testing provides more details.
Commissions
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.
Deposit & Withdrawal Fees
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.
Other Fees
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 periods 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 Brokers and the Best MT4 Brokers.
| Trading Platform | Plus500 | IG Group |
|---|---|---|
| MetaTrader 4 | No | Yes |
| MetaTrader 5 | No | No |
| cTrader | No | No |
| TradingView | No | Yes |
| Copy Trading | No | Yes |
| Proprietary Platform | Yes | Yes |
MetaTrader 4 and 5
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.
cTrader and TradingView
Neither Plus500 nor IG supports cTrader or TradingView. Both brokers offer their proprietary platforms, which come with a range of tools and features.
Social And Copy Trading
While neither broker offers social or copy trading directly, IG allows for this functionality through third-party platforms like ZuluTrade and Myfxbook.
VPS and Other Trading Tools
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 |
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 demo accounts.
| Plus500 | IG Group | |
|---|---|---|
| Standard Account | Yes | Yes |
| Raw Account | No | Yes |
| Swap Free Account | No | No |
| Active Traders | No | No |
| Spread Betting (UK) | No | Yes |
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 |
Navigating through the trading world, we’ve always prioritised a seamless and straightforward trading experience. Our in-depth analysis of Plus500 and IG Markets, two prominent brokers in the field, has provided us with a wealth of insights into their user experience and ease of use.
Plus500 stands out with its user-friendly platform, which is particularly beneficial for beginners, offering a smooth and intuitive trading journey. On the other hand, IG Markets brings to the table its advanced trading platforms and comprehensive educational resources, catering to both novice and seasoned traders with a wealth of knowledge and tools at their fingertips.
In our own testing, we’ve explored various brokers and their offerings to determine which provides the best trading experience and ease of use. While Plus500 and IG Markets both have their unique strengths and offerings, it’s imperative to consider your trading style, preferred platforms, and desired instruments when making a choice.
Whether you value a straightforward, user-friendly interface or a platform that offers an array of advanced tools and resources, both brokers present viable options, each catering to different aspects of the trading experience. So, your choice boils down to personal preference and trading needs, ensuring your selected broker aligns seamlessly with your trading journey.
Verdict
Plus500 offers a more straightforward and beginner-friendly platform, making it the preferable choice for those prioritizing ease and simplicity in their trading experience.
IG Group Trust Score
Plus500 Trust Score
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).
| Plus500 | IG Group | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) FCA (UK) CYSEC (Cyprus) FMA (New Zealand) MAS (Singapore) | ASIC (Australia) FCA (UK) BaFin (Germany) FINMA (Switzerland) NFA/CFTC (USA) CYSEC (Cyprus) MAS (Singapore) FMA (New Zealand) |
| Tier 2 Regulation | DFSA (Dubai) EFSRA | JFSA (Japan) DFSA (Dubai) |
| Tier 3 Regulation | FSA-S (Seychelles) FSCA (South Africa) | BMA (Bermuda) FSCA (South Africa) |
Verdict
IG wins this category due to its broader regulatory oversight, which includes more top-tier regulators than Plus500.
In the bustling world of trading, a diverse product range and extensive CFD markets are pivotal for traders seeking to diversify their portfolios. Our meticulous analysis of Plus500 and IG Markets has unveiled a spectrum of offerings in terms of products and CFD markets.
Plus500 is renowned for its wide array of trading instruments, encompassing forex, indices, commodities, shares, ETFs, and cryptocurrencies, providing traders with ample opportunities to explore various markets.
Conversely, IG Markets, while also offering a broad range of markets, distinguishes itself with its provision of spread betting (for UK and Ireland residents) and share trading, catering to traders with specific market interests.
| Product/Market | Plus500 | IG Markets |
|---|---|---|
| Forex | Yes | Yes |
| Indices | Yes | Yes |
| Commodities | Yes | Yes |
| Shares | Yes | Yes |
| ETFs | Yes | Yes |
| Cryptocurrencies | Yes | Yes |
| Spread Betting | No | Yes (UK and Ireland) |
| Share Trading | No | Yes |
| Metals | Yes | Yes |
| Energies | Yes | Yes |
| Bonds | Yes | Yes |
Our own testing has further enriched our insights into the product offerings and CFD markets of various brokers. It’s imperative to note that while both Plus500 and IG Markets offer a commendable range of products and markets, the best choice ultimately hinges on your specific trading needs and market interests.
Whether you’re keen on exploring various CFD markets or diving into specific products like spread betting or share trading, both brokers cater to different facets of trading, ensuring a robust trading experience.
Verdict
IG Markets takes the crown for the top product range and CFD markets, offering a slightly more diversified and specialized offering, especially with its provision of spread betting and share trading.
Embarking on a trading journey necessitates a solid foundation of knowledge and understanding of the market dynamics. Both Plus500 and IG Markets have made notable efforts to provide educational resources to traders, albeit with distinct approaches and offerings.
Plus500 maintains a straightforward, user-friendly platform, which is particularly beneficial for beginners, offering a smooth and intuitive trading journey. However, when it comes to educational resources, it offers a limited selection, primarily focusing on a user-friendly trading experience.
IG Markets, on the other hand, provides a comprehensive suite of educational resources, catering to both novice and seasoned traders with a wealth of knowledge and tools at their fingertips. From detailed webinars, courses, and research tools, IG Markets ensures traders are well-equipped with the knowledge to navigate through the trading world effectively.
It’s worth noting that the educational resources provided by brokers can be pivotal in shaping your trading journey, offering insights, strategies, and knowledge that can enhance your trading experience and decision-making processes.
Verdict
IG Markets unequivocally offers superior educational resources, providing a comprehensive and detailed suite of educational content, webinars, and research tools, ensuring traders are well-equipped with essential trading knowledge and insights.
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 |
Navigating through the financial markets, traders often seek brokers that provide a plethora of funding options, ensuring flexibility and convenience in managing their trading accounts. Our detailed analysis of Plus500 and IG Markets reveals distinct approaches to providing funding options to their clientele.
Plus500 offers a range of funding options, including credit/debit cards, electronic wallets, and bank transfers, ensuring traders can fund their accounts with ease and convenience. However, it’s pivotal to note that the availability of these options may vary based on the trader’s country of residence, thereby influencing the accessibility and applicability of certain funding methods.
IG Markets, on the other hand, also provides a variety of funding options, ensuring traders can manage their accounts with flexibility and ease. From traditional methods like bank transfers to modern solutions like electronic wallets, IG Markets caters to a wide array of traders with varying preferences and requirements in funding their accounts.
It’s imperative to note that the availability and applicability of these funding options may be influenced by regulatory stipulations and the trader’s country of residence, thereby necessitating a thorough understanding of the available options.
| Funding Option | Credit/Debit Card | Bank Transfer | PayPal | Skrill | Neteller | Klarna | Trustly | BPay | FasaPay |
|---|---|---|---|---|---|---|---|---|---|
| Plus500 | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ❌ |
| IG Markets | ✅ | ✅ | ✅ | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ |
Verdict
Plus500 offers a more diverse range of funding options, providing traders with additional flexibility and convenience in managing their trading accounts, thereby making it the preferable choice for traders seeking varied funding options.
IG has a lower minimum of $0 vs $100 set by Plus500. Do take note, however, of the various minimum amounts required by IG depending on your region and payment channel:
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £250 Minimum Deposit | $50 Minimum Deposit | €300 Minimum Deposit | $100 |
| Paypal | £250 Minimum Deposit | $50 Minimum Deposit | €300 Minimum Deposit | $100 |
| Bank Wire | £0 Minimum Deposit | $250 Minimum Deposit | €0 Minimum Deposit | $0 |
| Skrill | N/A | N/A | N/A | N/A |
Conversely, Plus500 requires traders to pay the same minimum amount wherever they are located.
| 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
While IG provides the feature of a lower minimum deposit, the actual rate can be higher for some traders. IG does offer more flexibility especially if you use bank transfers, but Plus500’s minimum can still be considered low.
IG Group is the winner because it provides a comprehensive and diversified trading experience, catering to both novice and seasoned traders with its robust platform, extensive educational resources, and a wide array of trading options. The table below summarises the key information that has led us to this verdict, providing a snapshot of how each broker fares across various crucial aspects.
| Criteria | Plus500 | IG Markets |
|---|---|---|
| 1. Lowest Spreads And Fees | ✅ | ✅ |
| 2. Better Trading Platform | ❌ | ✅ |
| 3. Superior Accounts And Features | ✅ | ✅ |
| 4. Best Trading Experience And Ease | ✅ | ❌ |
| 5. Stronger Trust And Regulation | ❌ | ✅ |
| 6. Top Product Range And CFD Markets | ❌ | ✅ |
| 7. Superior Educational Resources | ❌ | ✅ |
| 8. Superior Customer Service | ❌ | ✅ |
| 9. Better Funding Options | ✅ | ❌ |
| 10. Lower Minimum Deposit | ✅ | ❌ |
Plus500 stands out as the better broker for beginner traders, offering a user-friendly platform and a lower minimum deposit, making it accessible and straightforward for those new to trading.
Conversely, IG Group shines as the preferable broker for experienced traders, providing a robust trading platform, a wide array of trading options, and comprehensive educational resources to navigate through the intricate world of trading.
IG Group generally offers lower costs compared to Plus500. With competitive spreads and a transparent fee structure, traders often find IG to be more cost-effective. For instance, IG offers spreads as low as 0.6 pips on Forex pairs, providing traders with cost-efficient trading opportunities. You can explore more about low-cost brokers and their offerings on this page about Lowest Commission Brokers.
IG Group is the better choice for traders looking to use MetaTrader 4. Plus500 does not support MetaTrader 4, limiting its appeal to traders who prefer using this popular trading platform. On the other hand, IG not only supports MetaTrader 4 but also provides additional tools and resources for traders using it. For a detailed comparison and insights into brokers offering MetaTrader 4, you might want to visit this comprehensive guide on the best MT4 forex brokers in the UK.
Neither Plus500 nor IG offers social trading or copy trading features on their platforms. Both brokers have opted to focus on providing robust, individual trading platforms with a range of tools and resources, rather than integrating social trading features. For traders who are specifically interested in platforms that offer social or copy trading, exploring this detailed guide on the best copy trading platforms might provide valuable insights and alternatives.
Yes, IG Group offers spread betting, while Plus500 does not. IG Markets provides spread betting services to residents of the UK and Ireland, offering a tax-efficient way of trading financial markets. For a deeper dive into spread betting and to explore brokers offering these services, you might find this guide on the best spread betting brokers in the UK particularly insightful.
In my opinion, IG is superior for Australian Forex traders. IG is ASIC regulated, ensuring that they adhere to the stringent regulatory requirements set forth by the Australian authorities. Furthermore, while IG was founded overseas, it has a significant presence in Australia, providing local traders with a robust and reliable platform for their trading needs. For more insights into Forex trading in Australia, you might find this page on Best Forex Brokers In Australia quite informative.
Personally, I believe IG Group also takes the lead for UK Forex traders. IG Markets is FCA regulated, aligning with the rigorous regulatory framework in the UK and ensuring a secure trading environment for traders. Although IG Markets was not founded in the UK, its adherence to FCA regulations and its substantial offerings for Forex trading make it a commendable choice for UK traders. For a broader perspective on Forex trading in the UK, you might want to explore this detailed guide on the Best Forex Brokers In UK.
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