We compared Plus500 and ThinkMarkets to help you settle on which broker is for you. We dissect trading features like account types, costs, Forex trading platforms, execution speed when making orders.
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Plus500 and ThinkMarkets are both reputable retail forex brokers, but they cater to different types of traders. Plus500 offers a user-friendly proprietary platform and transparent pricing, making it a great choice for beginners. ThinkMarkets, on the other hand, offers advanced platform offerings and superior execution speed, making it more suited for experienced traders.
When it comes to trading costs, both Plus500 and ThinkMarkets offer competitive pricing. However, ThinkMarkets stands out with its low commission forex brokers and lowest fixed spread forex brokers.
When we look at the average standard account spreads for Plus500 and ThinkMarkets, we see some interesting differences. Plus500’s spreads tend to be higher across the board, with the most significant difference seen in the AUD/JPY pair, where Plus500’s spread is a whopping 3 compared to ThinkMarkets’ 1.2. This trend continues across all pairs, with Plus500 consistently showing higher spreads.
Comparing these brokers to the industry average, ThinkMarkets consistently comes out on top, with spreads lower than the industry average across all pairs. Plus500, on the other hand, tends to have spreads higher than the industry average. This suggests that, purely from a cost perspective, ThinkMarkets could be the more economical choice for traders.
| Forex Pair | Plus500 | ThinkMarkets | Industry Average |
|---|---|---|---|
| EUR/USD | 1.7 | 1.1 | 1.18 |
| USD/JPY | 1.9 | 1.4 | 1.37 |
| GBP/USD | 2.3 | 1.3 | 1.51 |
| AUD/USD | 1.4 | 1.1 | 1.41 |
| USD/CAD | 2 | 1.2 | 1.70 |
| EUR/GBP | 1.7 | 1.1 | 1.56 |
| EUR/JPY | 2.4 | 1.2 | 1.85 |
| AUD/JPY | 3 | 1.2 | 2.09 |
While Plus500’s higher spreads might seem like a deterrent, it is essential to consider the overall trading experience. However, if cost is a significant factor for you, ThinkMarkets appears to be the cheaper option compared to both Plus500 and the industry average.
ThinkMarkets is the only provider that offers a raw spread account and is listed as a forex broker with zero pip account. Plus500 only offers no commission accounts. So if this is the type of account your looking for, it rules out Plus500 as an option.
ThinkMarkets offers competitive commission rates, especially for high-volume traders.
Both brokers offer free deposits and withdrawals, but it’s always a good idea to check with your bank or payment provider for any potential fees on their end.
Neither broker charges inactivity or account maintenance fees, which is a plus for traders who do not trade frequently.
Verdict: When it comes to trading costs, ThinkMarkets is the clear winner due to its lower spreads and competitive commissions.
| Criteria | Plus500 | ThinkMarkets |
|---|---|---|
| Standard Account Spreads | Competitive | Not Published |
| RAW Account Spreads | Available | Available |
| Commission Rates | Competitive | Competitive |
| Deposit & Withdrawal Fees | None | None |
| Other Fees | May apply | May apply |
Plus500 is regulated in 9 difference countries or regions while ThinkMarkets is regulated in 5 countries. Neither broker is regulated in the US or in Canada.
Verdict: Both brokers are trustworthy and well-regulated, but Plus500 has the edge with a few more regulators.
| Broker | Regulators |
|---|---|
| Plus500 | FCA, CySEC, ASIC, FMA, MAS, DFSA, EFSA, FSA-S, FSCA |
| ThinkMarkets | FCA, ASIC, FSCA, FSA-S, CySEC |
Plus500 offers a proprietary platform that’s user-friendly and intuitive, making it a great choice for beginners. ThinkMarkets, on the other hand, offers the best MetaTrader 4 forex brokers and best MetaTrader 5 forex brokers, which are popular among experienced traders.
ThinkMarkets offers both MetaTrader 4 and MetaTrader 5, the industry’s leading trading platforms known for their advanced charting features and automated trading capabilities. Plus500, on the other hand, offers a proprietary platform with a user-friendly interface but does not support MetaTrader.
Neither Plus500 nor ThinkMarkets offer cTrader or TradingView platforms.
| Criteria | Plus500 | ThinkMarkets |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | No | Yes |
| cTrader | No | No |
| TradingView | No | No |
| Other Platforms | No | ThinkTrader |
| VPS Services | Yes | Yes |
While Plus500 does not offer social or copy trading, ThinkMarkets provides social trading through its partnership with ZuluTrade.
| Broker | Social And Copy Trading Platform |
|---|---|
| Plus500 | — |
| ThinkMarkets | MetaTrader Signals |
Verdict: ThinkMarkets, with its MetaTrader support, social trading, and VPS services, offers a more comprehensive trading platform offering than Plus500.
Execution speed is critical in trading, especially for day traders and scalpers. ThinkMarkets prides itself on its superior execution speed, providing traders with quick and efficient trade execution. Plus500 also offers reliable execution speed, but it does not emphasise it as much as ThinkMarkets.
Verdict: ThinkMarkets, with its emphasis on superior execution speed, takes the lead in this category.
| Broker | Limit Order Speed | Market Order Speed |
|---|---|---|
| Plus500 | N/A | N/A |
| ThinkMarkets | 19 ms | 19 ms |
Plus500 offers a standard account and a professional account. ThinkMarkets offers a forex brokers with micro accounts and a ThinkZero account for more experienced traders.
Verdict: ThinkMarkets offers more account types to suit different trading needs and styles.
| Broker | Account Types |
|---|---|
| Plus500 | Standard, Professional, Demo |
| ThinkMarkets | Standard, ThinkZero, Pro, Demo |
Customer service is a crucial aspect of the trading experience. Both Plus500 and ThinkMarkets offer 24/7 customer service, with support available via live chat, email, and phone. They are committed to providing prompt and helpful service to their clients.
Verdict: It’s a tie in this category, as both Plus500 and ThinkMarkets provide excellent customer service.
| Broker | Customer Service |
|---|---|
| Plus500 | 24/7, Live Chat, Email, Phone |
| ThinkMarkets | 24/7, Live Chat, Email, Phone |
When it comes to other trading factors, both brokers offer reasonable minimum deposit levels and a variety of payment methods. However, ThinkMarkets stands out with its Micro Accounts offering.
Both Plus500 and ThinkMarkets have reasonable minimum deposit requirements, making it accessible for new traders to start trading.
Plus500 and ThinkMarkets offer a variety of payment methods, including credit card, bank transfer, and e-wallets, providing convenience for deposits and withdrawals.
Verdict: Both Plus500 and ThinkMarkets cater well to traders’ needs with their reasonable minimum deposit levels and variety of payment methods. It’s a tie in this category.
| Criteria | Plus500 | ThinkMarkets |
|---|---|---|
| Minimum Deposit | $100 | $0 |
| Payment Methods | Variety | Variety |
| Trading Instruments | ||
| Forex CFD | 65 | 46 |
| Shares CFD | 11,000+ | 3670 |
| Cryptos CFD | 18 (+ Crypto 10) |
27 |
| Commodities CFD | 5 Metals 7 Energies 10 Softs |
4 Metals (3 x Golds) (3 x Silver) 3 Energies |
| Indices CFD | 65 | 16 |
| Bonds/Treasuries CFD | No | No |
| Spread Betting (UK only) | No | Yes |
| Other Products | No | No |
| Shares (underlying) | No | Yes |
Best For Beginner Traders: Plus500 is our top pick for beginner traders due to its user-friendly platform and transparent pricing.
Best For Experienced Traders: ThinkMarkets is our top pick for experienced traders due to its advanced platform offerings and superior execution speed.
| — | Plus500 | ThinkMarkets |
|---|---|---|
| Best For Beginner Traders | Yes | No |
| Best For Experienced Traders | No | Yes |
In conclusion, the choice between Plus500 and ThinkMarkets depends on your trading needs and preferences. Both brokers offer a robust trading environment, but ThinkMarkets may be more suited for experienced traders due to its advanced platform offerings and superior execution speed. On the other hand, Plus500’s user-friendly platform and transparent pricing make it a great choice for beginners.
Plus500 is a better choice for beginner traders due to its user-friendly proprietary platform and transparent pricing.
ThinkMarkets prides itself on its superior execution speed, providing quick and efficient trade execution.
