After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare CMC Markets vs Plus500.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed 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.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. CMC Markets alongside Plus500 are regulated in a major hub. CMC Markets alongside Plus500 are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. CMC Markets offers its clients access to 183 different currency pairs while Plus500 has 60 available pairs, a difference of 123.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. Neither CMC Markets and Plus500 offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. CMC Markets offers its clients access to 24 charting tools while Plus500 has 0 charting tools, a difference of 24. CMC Markets trails Plus500 by 29 total different indicators (for example, moving averages), with Plus500 offering 103 and CMC Markets offering 74.
Overall, CMC Markets comes out on top with 4.50 stars over Plus500's 3.00 stars. And, when it comes to individual category awards, CMC Markets finished with awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Active Trading and Best in Class - Mobile Trading in 2018, while Plus500 came up with none of these.