Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare CMC Markets vs Plus500.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. CMC Markets is a better option with a 5.00 star rating over Plus500's 3.00 star rating.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. CMC Markets alongside Plus500 are regulated in a major hub. CMC Markets and Plus500 are publicly traded companies. How many currency pairs are available to trade? CMC Markets boasts an offering of 183 different currency pairs compared to Plus500's 60 available pairs.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Neither offers Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Plus500 trails CMC Markets by 24 total charting tools, with CMC Markets offering 24 and Plus500 offering 0. Plus500 boasts an offering of 103 different indicators (for example, moving averages) compared to CMC Markets's 74 available indicators.
Overall, CMC Markets boasts 4.50 stars versus Plus500's 3.00 stars. And, when it comes to individual category awards, CMC Markets was rated Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Active Trading and Best in Class - Mobile Trading in 2018, while Plus500 was rated none of these.