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 Interactive Brokers 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. Interactive Brokers received a rating of 4.00 stars over Plus500's 3.00 stars.
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. Interactive Brokers alongside Plus500 are regulated in a major hub. Interactive Brokers and Plus500 are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. Plus500 trails Interactive Brokers by 25 total currency pairs (for example, EUR/USD), with Interactive Brokers offering 85 and Plus500 offering 60.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. Interactive Brokers nor Plus500 offers 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. Interactive Brokers boasts an offering of 9 charting tools compared to Plus500's 0 available charting tools. Interactive Brokers boasts an offering of 121 different indicators (for example, moving averages) compared to Plus500's 103 available indicators.
Overall, Interactive Brokers boasts 4.50 stars versus Plus500's 3.00 stars. And, when it comes to individual category awards, neither Interactive Brokers 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.