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 Plus500 vs Swissquote.
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. Swissquote received a rating of 3.50 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. Both Plus500 and Swissquote are regulated in a major hub. Both Plus500 and Swissquote are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. Swissquote boasts an offering of 78 different currency pairs compared to Plus500's 60 available pairs.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. Swissquote makes Meta Trader available to clients, while Plus500 does not. 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. Swissquote boasts an offering of 31 charting tools compared to Plus500's 0 available charting tools. Plus500 boasts an offering of 103 different indicators (for example, moving averages) compared to Swissquote's 51 available indicators.
Overall, Swissquote comes out on top with 4.00 stars over Plus500's 3.00 stars. And, when it comes to individual category awards, Swissquote posted awards Best in Class - Customer Service in 2018, while Plus500 found itself with none of these.