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 Plus500 vs Swissquote.
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. Swissquote's score is 3.50 stars versus 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. Plus500 alongside Swissquote are regulated in a major hub. Plus500 and Swissquote are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. Plus500 trails Swissquote by 18 total currency pairs (for example, EUR/USD), with Swissquote offering 78 and Plus500 offering 60.
To round out our comparison of Plus500 vs Swissquote, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. Swissquote has Meta Trader, Plus500 doesn't. 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. Swissquote 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 Swissquote has 51 available indicators, a difference of 52.
Overall, Swissquote boasts 4.00 stars versus Plus500's 3.00 stars. And, when it comes to individual category awards, Swissquote was rated Best in Class - Customer Service in 2018, while Plus500 was rated none of these.