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FXCM vs Plus500 2023

BrokerNotes.co

Written by BrokerNotes.co

January 31, 2023

Trying to decide between FXCM and Plus500? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, FXCM ranks more highly than Plus500.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingFXCMPlus500
Overall Rating 8.5 / 10 8.5 / 10
Account TypeFXCMPlus500
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account No No
Copy TradingFXCMPlus500
Social Trading / Copy Trading Yes No
DupliTrade No No
ZuluTrade Yes No
CryptocurrencyFXCMPlus500
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)FXCMPlus500
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)FXCMPlus500
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsFXCMPlus500
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting Yes No
Social Trading / Copy Trading Yes No
Metals Yes Yes
Energies Yes Yes
Agriculturals No No
ETF No Yes
U.S. Stocks (CFD) Yes Yes
Trading PlatformsFXCMPlus500
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes No
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes No
MetaTrader 5 (MT5) No No
Regulatory LicensesFXCMPlus500
Tier-1 Licenses 3 4
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) Yes No
FCA Authorised (U.K.) Yes Yes
SFC Authorised (Hong Kong) No No
MAS Authorised (Singapore) No Yes
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No No
Tier-2 Licenses 3 3
Tier-3 Licenses 0 0
Research, EducationFXCMPlus500
Trading Central (Recognia) Yes Yes
Forex News (Top-Tier Sources) Yes No
Daily Market Commentary Yes Yes
Autochartist Yes No
Investor Dictionary (Glossary) Yes No
Videos - Beginner Trading Videos Yes Yes
Client Webinars (Archived) Yes Yes
Trading CostsFXCMPlus500
Minimum Initial Deposit Starts from $50 €100
Average Spread EUR/USD - Standard 1.38 (Q2 2022) 0.6 (as of Aug 2018)
All-in Cost EUR/USD - Active 1.38 (Q2 2022) N/A
Active Trader or VIP Discounts Yes No
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No Yes
Trading ToolsFXCMPlus500
Watchlists - Total Fields 12 9
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 57 110
Mobile Charting - Indicators / Studies 59 110
Trust FactorsFXCMPlus500
Year Founded 1999 2008
Publicly Traded (Listed) Yes Yes
Bank No No
Authorised in European Union Yes info Yes info
Trust Score 96 98
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FXCM vs Plus500 Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FXCM vs Plus500.

Can I trust FXCM?

FXCM has a trust score of 96, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust Plus500?

Plus500 has a trust score of 98, giving it a "Highly Trusted" trust label.

Is FXCM a good broker?

FXCM, a Jefferies Group company, is a long-standing brand that caters to global forex and CFD traders. It offers multiple trading platforms for alogrithmic trading and social copy-trading alongside it's flagship platform suite. The range of markets available at FXCM has increased following the addition of its share trading feature, and its known for providing robust market research – though pricing at FXM is just average.

Is Plus500 a good broker?

Plus500 is a highly-trusted broker offering a wide range of CFDs from within its user-friendly trading platforms. While its educational content and range of research trails category leaders, Plus500 is still a great choice for less demanding traders.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. FXCM is ASIC Authorised (Australia), IIROC Authorised (Canada) and FCA Authorised (U.K.), while Plus500 is ASIC Authorised (Australia), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand) and FCA Authorised (U.K.)., neither have SFC Authorised (Hong Kong), CBI Authorised (Ireland), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FXCM is CySEC Authorised (Cyprus), ISA Authorised (Israel) and FSCA Authorised (South Africa), while Plus500 is CySEC Authorised (Cyprus), ISA Authorised (Israel), FSCA Authorised (South Africa) and DFSA / Central Bank Authorised (UAE)., neither have CBRC Authorised (China), SEBI Authorised (India), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses unfortunately, neither FXCM nor Plus500 are SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu)., neither have VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms FXCM supports a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade, whereas Plus500 supports a Proprietary Platform., neither have cTrader and DupliTrade

Does FXCM offer MetaTrader? Does Plus500 offer MetaTrader?

For MetaTrader FXCM provides MetaTrader 4 (MT4), while Plus500 provides neither of these. If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers., neither have MetaTrader 5 (MT5)

How do FXCM and Plus500 differ in terms of minimum deposit? What about average spreads and funding options?

FXCM requires a minimum deposit of Starts from $50, while Plus500 requires a minimum deposit of €100. From our testing we found FXCM offers spreads of 1.38 (Q2 2022), while Plus500 offers spreads of 0.6 (as of Aug 2018). FXCM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for popular funding options, where Plus500 supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, FXCM or Plus500?

FXCM offers a more diverse selection of investment options than Plus500 allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD)., neither have Agriculturals Looking at total tradeable symbols, FXCM has 441, compared to 2800 from Plus500.

Can I trade cryptocurrency with FXCM or Plus500?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither FXCM nor Plus500 allow you to trade physical cryptocurrencies.

Who offers more research tools, FXCM or Plus500?

In terms of research and research tools FXCM gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison Plus500 has the tools listed here: Daily Market Commentary, Stock Charts and Trading Central (Recognia).

Broker Reviews

Still looking for more information, read our broker reviews.

FXCM Review

Plus500 Review

Overall winner: FXCM

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announcementPlease note:

We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.



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