Plus500 vs IC Markets | Broker Comparison
Review Updated: 2022-05-09
So you are looking to compare forex brokers, no doubt you are looking for a forex broker comparison which will help you find who has the best forex spreads and forex leverage. We can help! We have done extensive research of the major forex brokers to bring you a set of results with customisable comparisons between brokers. Use our tool below to make a quick comparison between two forex brokers to see who has what rates and fees. Over on the right of the screen, you will see two drop-down fields. Select the brokers you want to compare. See our full list of broker comparisons here.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 86% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Pros
- Heavily regulated in 11 jurisdictions, including FCA, ASIC and CySEC
- Good transparency on fees, better than average on costs
- Proprietary WebTrader platform and app have won many awards, user-friendly
- More than 2,000 popular asset choices on CFD platform
Cons
- Research and education materials could be more comprehensive
- Customer service has no telephone access
- No MT4 or MT5 trading platform products offered
Trading Derivatives carries a high level of risk to your capital, and you should only trade with money you can afford to lose. 75% of retail investor accounts lose money when trading CFDs with this provider. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Pros
- Direct access to raw spreads – low fee pricing overall
- MetaTrader plus cTrader trading platforms
- ASIC regulation plus CySEC and FSA in Seychelles and SCB in the Bahamas
- Fast account opening process
Cons
- No Negative Balance protection
- Slow Live Chat service
- No US citizens accepted
Feature
Plus500
IC Markets
Minimum deposit:
100 units of USD, EUR, GBP
$200
Withdrawal fee amount:
None
None
Inactivity fee charged (Y/N):
Y
N
Spread from:
Varies
0.0 pip (EUR/USD average 0.1 pip)
Number of instruments:
2,000+
258
Time to open account:
1-2 business days
1-2 business days
Demo account provided (Y/N):
Y
Y
Countries of regulation:
UK, Cyprus, Australia, New Zealand, South Africa, Seychelles, Estonia, Singapore, Israel, US, Japan
Australia, EEA (Cyprus), Seychelles, Bahamas
Products offered:
CFDs in forex, indices, shares, commodities, options, ETFs, and cryptocurrencies in limited jurisdictions, stocks on Plus500Invest (available in certain countries)
Forex pairs with CFDs for Stocks, Indices, Commodities, Bonds, Futures, and Cryptos.
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