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 FXCM 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. FXCM is a better option with a 4.00 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. FXCM alongside Plus500 are regulated in a major hub. FXCM alongside Plus500 are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. Plus500 offers its clients access to 60 different currency pairs while FXCM has 39 available pairs, a difference of 21.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FXCM makes Meta Trader available to clients, while Plus500 does not. 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. FXCM offers its clients access to 31 charting tools while Plus500 has 0 charting tools, a difference of 31. Plus500 offers its clients access to 103 different indicators (for example, volume) while FXCM has 51 available indicators, a difference of 52.
Overall, FXCM boasts 4.50 stars versus Plus500's 3.00 stars. And, when it comes to individual category awards, FXCM was rated Best in Class - Platforms & Tools, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018, while Plus500 was rated none of these.