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 TickMill.
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. TickMill's score is 4.00 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 TickMill are regulated in a major hub. Plus500 is a publicly traded company, TickMill isn't. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. TickMill offers its clients access to 62 different currency pairs while Plus500 has 60 available pairs, a difference of 2.
To round out our comparison of Plus500 vs TickMill, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. TickMill 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. TickMill boasts an offering of 31 charting tools compared to Plus500's 0 available charting tools. TickMill trails Plus500 by 52 total different indicators (for example, moving averages), with Plus500 offering 103 and TickMill offering 51.
Overall, TickMill boasts 3.50 stars versus Plus500's 3.00 stars. And, when it comes to individual category awards, unfortunately, neither Plus500 nor TickMill 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.