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 LCG 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. Both LCG and Plus500 hold a 3.00 star rating.
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. LCG alongside Plus500 are regulated in a major hub. Both LCG and Plus500 are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. Plus500 trails LCG by 22 total currency pairs (for example, EUR/USD), with LCG offering 82 and Plus500 offering 60.
To round out our comparison of LCG vs Plus500, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. LCG offers Meta Trader 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 LCG by 31 total charting tools, with LCG offering 31 and Plus500 offering 0. LCG trails Plus500 by 52 total different indicators (for example, moving averages), with Plus500 offering 103 and LCG offering 51.
Overall, LCG comes out on top with 4.00 stars over Plus500's 3.00 stars. And, when it comes to individual category awards, unfortunately, neither LCG nor Plus500 received awards 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.