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 IC Markets 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. IC Markets received a rating of 4.00 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. Both IC Markets and Plus500 are regulated in a major hub. Plus500 is a publicly traded company, IC Markets isn't. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. IC Markets boasts an offering of 63 different currency pairs compared to Plus500's 60 available pairs.
To round out our comparison of IC Markets vs Plus500, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. IC Markets makes Meta Trader available to clients, while Plus500 does not. 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. Plus500 trails IC Markets by 31 total charting tools, with IC Markets offering 31 and Plus500 offering 0. IC Markets trails Plus500 by 52 total different indicators (for example, moving averages), with Plus500 offering 103 and IC Markets offering 51.
Overall, IC Markets takes the upper hand with 4.00 stars over Plus500's 3.00 stars. And, when it comes to individual category awards, neither IC Markets nor Plus500 were rated Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.