To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare eToro vs Plus500.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. eToro received a rating of 3.50 stars over Plus500's 3.00 stars.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. eToro and Plus500 both are regulated in a major hub. Plus500 is a publicly traded company while eToro is not. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. Plus500 boasts an offering of 60 different currency pairs compared to eToro's 47 available pairs.
To round out our comparison of eToro vs Plus500, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. eToro nor Plus500 offers Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. eToro boasts an offering of 14 charting tools compared to Plus500's 0 available charting tools. eToro trails Plus500 by 37 total different indicators (for example, moving averages), with Plus500 offering 103 and eToro offering 66.
Overall, eToro takes the upper hand with 4.00 stars over Plus500's 3.00 stars. And, when it comes to individual category awards, eToro finished with awards Best in Class - Customer Service in 2018, while Plus500 came up with none of these.