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 FXCM 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. FXCM is a better option with a 4.00 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. FXCM and Plus500 both are regulated in a major hub. Both FXCM and Plus500 are publicly traded companies. How many currency pairs are available to trade? Plus500 offers its clients access to 60 different currency pairs while FXCM has 39 available pairs, a difference of 21.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. FXCM makes Meta Trader available to clients, while Plus500 does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. FXCM boasts an offering of 31 charting tools compared to Plus500's 0 available charting tools. FXCM trails Plus500 by 52 total different indicators (for example, moving averages), with Plus500 offering 103 and FXCM offering 51.
Overall, FXCM takes the upper hand with 4.50 stars over Plus500's 3.00 stars. And, when it comes to individual category awards, FXCM finished with awards Best in Class - Platforms & Tools, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018, while Plus500 came up with none of these.